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 and nine month periods ended September 30, 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 and nine month periods ended September 30, 2018 and 2017 are presented below:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Net income attributable to Lazard Ltd - basic	$	107,074	$	109,210	$	413,729	$	337,141
Net income attributable to Lazard Ltd - diluted	$	107,074	$	109,210	$	413,729	$	337,141
Weighted average number of shares of Class A common stock outstanding		119,197,949		120,987,607		119,647,775		121,868,223
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		258,567		255,991		249,851		274,080
Weighted average number of shares of Class A common stock outstanding - basic		119,456,516		121,243,598		119,897,626		122,142,303
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation		10,403,212		11,150,066		10,852,766		10,265,248
Weighted average number of shares of Class A common stock outstanding - diluted		129,859,728		132,393,664		130,750,392		132,407,551
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$	0.90	$	0.90	$	3.45	$	2.76
Diluted	$	0.82	$	0.82	$	3.16	$	2.55