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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUE      
Interest income $ 53,604 $ 42,022 $ 29,457
Other 224,088 89,588 40,602
Total revenue 3,139,904 2,593,162 2,855,093
Interest expense 88,067 77,673 81,522
Net revenue 3,051,837 2,515,489 2,773,571
OPERATING EXPENSES      
Compensation and benefits 2,003,212 1,946,010 1,656,451
Occupancy and equipment 132,935 131,117 122,251
Marketing and business development 99,446 99,357 83,103
Technology and information services 183,524 189,670 171,702
Professional services 87,109 89,308 69,535
Fund administration and outsourced services 107,173 110,878 109,978
Benefit pursuant to tax receivable agreement (8,237) (43,894) (1,209)
Other 60,203 73,000 44,912
Total operating expenses 2,665,365 2,595,446 2,256,723
OPERATING INCOME (LOSS) 386,472 (79,957) 516,848
Provision (benefit) for income taxes 99,764 (22,650) 124,365
NET INCOME (LOSS) 286,708 (57,307) 392,483
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS 6,796 18,172 34,966
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD $ 279,912 $ (75,479) $ 357,517
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:      
Basic (in shares) 93,139,352 88,993,985 95,664,129
Diluted (in shares) 102,392,171 88,993,985 100,997,674
NET INCOME (LOSS) PER SHARE OF COMMON STOCK:      
Basic (in usd per share) $ 2.93 $ (0.90) $ 3.68
Diluted (in usd per share) $ 2.68 $ (0.90) $ 3.51
Investment banking and other advisory fees      
REVENUE      
Revenue $ 1,747,198 $ 1,383,799 $ 1,659,079
Asset management fees      
REVENUE      
Revenue $ 1,115,014 $ 1,077,753 $ 1,125,955