CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| REVENUE | ||||
| Interest income | $ 9,207 | $ 12,854 | $ 20,869 | $ 24,325 |
| Other | 39,122 | 18,450 | 71,641 | 62,584 |
| Total revenue | 817,160 | 707,991 | 1,486,324 | 1,493,472 |
| Interest expense | 21,163 | 22,642 | 42,276 | 43,370 |
| Net revenue | 795,997 | 685,349 | 1,444,048 | 1,450,102 |
| OPERATING EXPENSES | ||||
| Compensation and benefits | 519,208 | 452,560 | 949,478 | 1,003,384 |
| Occupancy and equipment | 33,703 | 32,031 | 69,116 | 64,888 |
| Marketing and business development | 29,593 | 25,493 | 57,324 | 49,092 |
| Technology and information services | 49,272 | 46,406 | 95,488 | 91,323 |
| Professional services | 24,589 | 23,734 | 43,426 | 43,614 |
| Fund administration and outsourced services | 30,054 | 27,114 | 56,599 | 53,254 |
| Other | 16,497 | 14,371 | 24,901 | 26,346 |
| Total operating expenses | 702,916 | 621,709 | 1,296,332 | 1,331,901 |
| OPERATING INCOME | 93,081 | 63,640 | 147,716 | 118,201 |
| Provision for income taxes | 31,764 | 11,587 | 24,410 | 25,924 |
| NET INCOME | 61,317 | 52,053 | 123,306 | 92,277 |
| LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 5,971 | 2,144 | 7,585 | 6,613 |
| NET INCOME ATTRIBUTABLE TO LAZARD | $ 55,346 | $ 49,909 | $ 115,721 | $ 85,664 |
| WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING: | ||||
| Basic (in shares) | 97,534,319 | 92,886,364 | 96,394,871 | 92,073,414 |
| Diluted (in shares) | 104,911,633 | 100,627,867 | 104,870,193 | 99,989,817 |
| NET INCOME PER SHARE OF COMMON STOCK: | ||||
| Basic (in USD per share) | $ 0.56 | $ 0.53 | $ 1.17 | $ 0.91 |
| Diluted (in USD per share) | $ 0.52 | $ 0.49 | $ 1.08 | $ 0.84 |
| Investment banking and other advisory fees | ||||
| REVENUE | ||||
| Revenue | $ 493,226 | $ 408,773 | $ 853,593 | $ 861,800 |
| Asset management fees | ||||
| REVENUE | ||||
| Revenue | $ 275,605 | $ 267,914 | $ 540,221 | $ 544,763 |
| X | ||||||||||
- Definition Expenses relating to fund administration and outsourced services and include such expenses as mutual fund service fees, outsourced fees and custody fees. No definition available.
|
| X | ||||||||||
- Definition The amount of expense in the period for communications and data processing expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|