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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUE        
Interest income $ 1,059 $ 3,962 $ 4,811 $ 11,775
Other 26,402 14,668 56,634 65,537
Total revenue 598,022 611,073 1,748,443 1,923,552
Interest expense 20,344 20,005 60,459 58,120
Net revenue 577,678 591,068 1,687,984 1,865,432
OPERATING EXPENSES        
Compensation and benefits 354,625 391,363 1,025,948 1,136,087
Occupancy and equipment 31,318 29,856 94,090 89,104
Marketing and business development 7,562 27,318 34,265 84,086
Technology and information services 33,457 34,076 97,444 104,956
Professional services 14,701 15,105 45,974 48,466
Fund administration and outsourced services 26,196 28,425 76,639 85,848
Amortization and other acquisition-related costs 458 1,022 1,359 9,534
Other 4,681 11,530 27,623 33,630
Total operating expenses 472,998 538,695 1,403,342 1,591,711
OPERATING INCOME 104,680 52,373 284,642 273,721
Provision for income taxes 28,165 4,177 76,720 55,536
NET INCOME 76,515 48,196 207,922 218,185
LESS - NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS 1,423 1,492 (4,650) 8,662
NET INCOME ATTRIBUTABLE TO LAZARD LTD $ 75,092 $ 46,704 $ 212,572 $ 209,523
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic 107,168,615 109,285,727 106,711,547 111,070,395
Diluted 113,181,564 113,881,690 112,929,830 116,959,041
NET INCOME PER SHARE OF COMMON STOCK:        
Basic $ 0.69 $ 0.42 $ 1.96 $ 1.87
Diluted $ 0.66 $ 0.40 $ 1.88 $ 1.77
Investment Banking and Other Advisory Fees [Member]        
REVENUE        
Revenue $ 304,999 $ 305,303 $ 906,927 $ 970,081
Asset Management Fees [Member]        
REVENUE        
Revenue $ 265,562 $ 287,140 $ 780,071 $ 876,159