Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program—During the three month period ended March 31, 2018 and since 2015, the Board of Directors of Lazard authorized the repurchase of Class A common stock as set forth in the table below:

Date	Repurchase Authorization		Expiration
February 2015	$	150,000	December 31, 2016
January 2016	$	200,000	December 31, 2017
April 2016	$	113,182	December 31, 2017
November 2016	$	236,000	December 31, 2018
October 2017	$	200,000	December 31, 2019

Schedule of Shares Repurchased Under the Share Repurchase Program

The Company expects that the share repurchase program will primarily be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”) and the Lazard Ltd 2018 Incentive Compensation Plan (the “2018 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from quarter to quarter due to a variety of factors. Purchases with respect to such program are set forth in the table below:

Three Months Ended March 31:

Number of

Purchased

Average

Price Per

2017

2,464,967

43.02

2018

2,662,286

54.82

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss), Net of Tax—The tables below reflect the balances of each component of AOCI at March 31, 2018 and 2017 and activity during the three month periods then ended:

	Three Months Ended March 31, 2018
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2018	$	(83,535	)	$	(148,984	)	$	(232,519	)	$	(1	)	$	(232,518	)
Activity:
Other comprehensive income (loss) before reclassifications		17,346			(5,014	)		12,332			-			12,332
Adjustments for items reclassified to earnings, net of tax		-			1,062			1,062			-			1,062
Net other comprehensive income (loss)		17,346			(3,952	)		13,394			-			13,394
Balance, March 31, 2018	$	(66,189	)	$	(152,936	)	$	(219,125	)	$	(1	)	$	(219,124	)

	Three Months Ended March 31, 2017
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2017	$	(155,204	)	$	(159,020	)	$	(314,224	)	$	(2	)	$	(314,222	)
Activity:
Other comprehensive income (loss) before reclassifications		16,932			(495	)		16,437			-			16,437
Adjustments for items reclassified to earnings, net of tax		-			1,086			1,086			-			1,086
Net other comprehensive income		16,932			591			17,523			-			17,523
Balance, March 31, 2017	$	(138,272	)	$	(158,429	)	$	(296,701	)	$	(2	)	$	(296,699	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2018 and 2017:

	Three Months Ended
	March 31,
	2018		2017
Amortization relating to employee benefit plans (a)	$	1,278	$	1,362
Less - related income taxes		216		276
Total reclassifications, net of tax	$	1,062	$	1,086

(a)	Included in the computation of net periodic benefit cost (see Note 14). Such amounts are included in “compensation and benefits” expense on the condensed consolidated statements of operations.

Net Income Attributable to Noncontrolling Interests

The tables below summarize net income attributable to noncontrolling interests for the three month periods ended March 31, 2018 and 2017 and noncontrolling interests as of March 31, 2018 and December 31, 2017 in the Company’s condensed consolidated financial statements:

	Net Income Attributable to Noncontrolling Interests
	Three Months Ended
	March 31,
	2018		2017
Edgewater	$	1,968	$	2,877
Other		1		-
Total	$	1,969	$	2,877

	Noncontrolling Interests as of
	March 31,		December 31,
	2018		2017
Edgewater	$	59,062	$	58,568
Other		558		534
Total	$	59,620	$	59,102