15.	NET INCOME PER SHARE OF CLASS A COMMON STOCK

The Company’s basic and diluted net income per share calculations for the three month and six month periods ended June 30, 2017 and 2016 are computed as described below.

Basic Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective periods.

Denominator—utilizes the weighted average number of shares of Class A common stock outstanding for the respective periods, plus applicable adjustments to such shares associated with shares of Class A common stock issuable on a non-contingent basis.

Diluted Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective periods as in the basic net income per share calculation described above.

Denominator—utilizes the weighted average number of shares of Class A common stock outstanding for the respective periods as in the basic net income per share calculation described above, plus, to the extent dilutive, the incremental number of shares of Class A common stock required to settle share-based incentive compensation.

The calculations of the Company’s basic and diluted net income per share and weighted average shares outstanding for the three month and six month periods ended June 30, 2017 and 2016 are presented below:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Net income attributable to Lazard Ltd - basic	$	120,378	$	80,357	$	227,931	$	147,180
Net income attributable to Lazard Ltd - diluted	$	120,378	$	80,357	$	227,931	$	147,180
Weighted average number of shares of Class A common stock outstanding		122,085,842		125,389,937		122,308,531		125,679,184
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		282,308		72,011		283,125		72,011
Weighted average number of shares of Class A common stock outstanding - basic		122,368,150		125,461,948		122,591,656		125,751,195
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation		9,771,466		6,879,574		9,822,840		6,865,208
Weighted average number of shares of Class A common stock outstanding - diluted		132,139,616		132,341,522		132,414,496		132,616,403
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$	0.98	$	0.64	$	1.86	$	1.17
Diluted	$	0.91	$	0.61	$	1.72	$	1.11