Supplemental Financial Information - Quarterly Results

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Supplemental Financial Information - Quarterly Results

SUPPLEMENTAL FINANCIAL INFORMATION

QUARTERLY RESULTS (UNAUDITED)

The following represents the Company’s unaudited quarterly results for the years ended December 31, 2013 and 2012. These quarterly results were prepared in conformity with generally accepted accounting principles and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature.

	2013 Fiscal Quarter
	First(a)		Second(a)		Third		Fourth(b)			Year
	(dollars in thousands, except per share data)
Net revenue	$	401,903	$	490,405	$	480,354	$	612,690		$	1,985,352
Operating expenses		380,306		449,467		399,236		539,536			1,768,545
Operating income	$	21,597	$	40,938	$	81,118	$	73,154		$	216,807
Net income	$	17,649	$	31,921	$	62,748	$	52,796		$	165,114
Less - net income (loss) attributable to noncontrolling interests		2,289		568		2,466		(421	)		4,902
Net income attributable to Lazard Ltd	$	15,360	$	31,353	$	60,282	$	53,217		$	160,212
Attributable to Lazard Ltd Class A common stockholders:
Net income per share of common stock:
Basic		$0.13		$0.26		$0.49		$0.44			$1.33
Diluted		$0.12		$0.24		$0.45		$0.40			$1.21
Dividends declared per share of common stock		—		$0.25		$0.25		$0.50			$1.00

(a) See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives.

(b) See Note 11 of Notes to Consolidated Financial Statements for information regarding the debt refinancing.

	2012 Fiscal Quarter
	First		Second		Third		Fourth(a)			Year
	(dollars in thousands, except per share data)
Net revenue	$	486,039	$	436,910	$	428,806	$	560,693		$	1,912,448
Operating expenses		448,216		392,377		382,080		565,890			1,788,563
Operating income (loss)	$	37,823	$	44,533	$	46,726	$	(5,197	)	$	123,885
Net income (loss)	$	29,056	$	34,162	$	33,673	$	(4,106	)	$	92,785
Less - net income attributable to noncontrolling interests		3,504		3,341		372		1,259			8,476
Net income (loss) attributable to Lazard Ltd	$	25,552	$	30,821	$	33,301	$	(5,365	)	$	84,309
Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$0.21		$0.26		$0.29		$(0.05	)		$0.72
Diluted		$0.20		$0.24		$0.26		$(0.05	)		$0.65
Dividends declared per share of common stock		$0.16		$0.20		$0.20		$ 0.60			$1.16

(a) See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives announced in the fourth quarter of 2012.