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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program—During the nine month period ended September 30, 2019 and since 2017, 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
October 2017	$	200,000	December 31, 2019
April 2018	$	300,000	December 31, 2020
October 2018	$	300,000	December 31, 2020
February 2019	$	300,000	December 31, 2020

Schedule of Shares Repurchased Under the Share Repurchase Program

The Company expects that the share repurchase program will continue to 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:

Nine Months Ended September 30:

Number of

Purchased

Average

Price Per

2018

5,797,789

52.88

2019

11,946,943

36.01

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 September 30, 2019 and 2018 and activity during the three month and nine month periods then ended:

	Three Months Ended September 30, 2019
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, July 1, 2019	$	(133,410	)	$	(138,577	)	$	(271,987	)	$	(3	)	$	(271,984	)
Activity:
Other comprehensive income (loss) before reclassifications		(26,760	)		9,050			(17,710	)		1			(17,711	)
Adjustments for items reclassified to earnings, net of tax		-			1,074			1,074			-			1,074
Net other comprehensive income (loss)		(26,760	)		10,124			(16,636	)		1			(16,637	)
Balance, September 30, 2019	$	(160,170	)	$	(128,453	)	$	(288,623	)	$	(2	)	$	(288,621	)

	Nine Months Ended September 30, 2019
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2019	$	(130,137	)	$	(143,683	)	$	(273,820	)	$	(2	)	$	(273,818	)
Activity:
Other comprehensive income (loss) before reclassifications		(30,033	)		11,911			(18,122	)		-			(18,122	)
Adjustments for items reclassified to earnings, net of tax		-			3,319			3,319			-			3,319
Net other comprehensive income (loss)		(30,033	)		15,230			(14,803	)		-			(14,803	)
Balance, September 30, 2019	$	(160,170	)	$	(128,453	)	$	(288,623	)	$	(2	)	$	(288,621	)

	Three Months Ended September 30, 2018
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, July 1, 2018	$	(109,642	)	$	(143,859	)	$	(253,501	)	$	(2	)	$	(253,499	)
Activity:
Other comprehensive income (loss) before reclassifications		(8,676	)		863			(7,813	)		2			(7,815	)
Adjustments for items reclassified to earnings, net of tax		-			949			949			-			949
Net other comprehensive income (loss)		(8,676	)		1,812			(6,864	)		2			(6,866	)
Balance, September 30, 2018	$	(118,318	)	$	(142,047	)	$	(260,365	)	$	-		$	(260,365	)

	Nine Months Ended September 30, 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		(34,783	)		4,149			(30,634	)		1			(30,635	)
Adjustments for items reclassified to earnings, net of tax		-			2,788			2,788			-			2,788
Net other comprehensive income (loss)		(34,783	)		6,937			(27,846	)		1			(27,847	)
Balance, September 30, 2018	$	(118,318	)	$	(142,047	)	$	(260,365	)	$	-		$	(260,365	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month and nine month periods ended September 30, 2019 and 2018:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Amortization relating to employee benefit plans (a)	$	1,246	$	1,213	$	3,843	$	3,736
Less - related income taxes		172		264		524		948
Total reclassifications, net of tax	$	1,074	$	949	$	3,319	$	2,788

(a)	Included in the computation of net periodic benefit cost (see Note 15). Such amounts are included in “operating expenses—other” 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 and nine month periods ended September 30, 2019 and 2018 and noncontrolling interests as of September 30, 2019 and December 31, 2018 in the Company’s condensed consolidated financial statements:

	Net Income Attributable to Noncontrolling Interests
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Edgewater	$	1,302	$	1,651	$	8,237	$	5,034
Consolidated VIEs		189		-		423		-
Other		1		-		2		2
Total	$	1,492	$	1,651	$	8,662	$	5,036

	Noncontrolling Interests as of
	September 30,		December 31,
	2019		2018
Edgewater	$	52,311	$	52,695
Profits interest participation rights		7,343		535
Consolidated VIEs		13,110		-
Other		15		12
Total	$	72,779	$	53,242