16.	NET INCOME PER SHARE OF CLASS A COMMON STOCK

The Company’s basic and diluted net income per share calculations for the three month periods ended March 31, 2018 and 2017 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 periods ended March 31, 2018 and 2017 are presented below:

	Three Months Ended
	March 31,
	2018		2017
Net income attributable to Lazard Ltd - basic	$	159,692	$	107,553
Net income attributable to Lazard Ltd - diluted	$	159,692	$	107,553
Weighted average number of shares of Class A common stock outstanding		119,695,749		122,531,221
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		234,357		283,942
Weighted average number of shares of Class A common stock outstanding - basic		119,930,106		122,815,163
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation		12,212,288		9,874,212
Weighted average number of shares of Class A common stock outstanding - diluted		132,142,394		132,689,375
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$	1.33	$	0.88
Diluted	$	1.21	$	0.81