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Condensed Consolidated Statements Of Operations (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUE        
Investment banking and other advisory fees $ 243,096 $ 245,282 $ 463,423 $ 514,491
Money management fees 230,906 180,899 445,598 358,002
Interest income 4,363 5,500 7,855 10,607
Other 22,240 11,472 45,070 23,861
Total revenue 500,605 443,153 961,946 906,961
Interest expense 23,313 24,118 46,631 49,715
Net revenue 477,292 419,035 915,315 857,246
OPERATING EXPENSES        
Compensation and benefits 286,480 263,021 556,479 563,398
Occupancy and equipment 22,977 21,320 45,685 42,590
Marketing and business development 20,879 18,252 38,990 33,855
Technology and information services 20,582 16,996 40,149 34,648
Professional services 13,120 10,814 22,961 18,985
Fund administration and outsourced services 13,507 10,996 26,758 22,370
Amortization of intangible assets related to acquisitions 1,706 1,769 3,180 3,539
Restructuring       87,108
Other 8,839 8,816 18,465 18,183
Total operating expenses 388,090 351,984 752,667 824,676
OPERATING INCOME 89,202 [1] 67,051 [1] 162,648 [1] 32,570 [1]
Provision for income taxes 17,636 13,523 31,099 19,936
NET INCOME 71,566 53,528 131,549 12,634
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS 9,562 8,956 14,538 1,596
NET INCOME ATTRIBUTABLE TO LAZARD LTD $ 62,004 $ 44,572 $ 117,011 $ 11,038
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic 119,107,386 103,527,014 117,221,070 96,631,576
Diluted 139,347,933 139,944,310 138,969,263 108,995,837
NET INCOME PER SHARE OF COMMON STOCK:        
Basic $ 0.52 $ 0.43 $ 1.00 $ 0.11
Diluted $ 0.48 $ 0.39 $ 0.91 $ 0.10
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK $ 0.16 $ 0.125 $ 0.285 $ 0.25
[1] Operating income (loss) for the six month period ended June 30, 2010 was significantly impacted by certain charges related to the three month period ended March 31, 2010. Such impact, including the amounts attributable to each of the Company's business segments, is described in the table below: