Net Income Per Share of Common Stock

3 Months Ended

Mar. 31, 2022

15.	NET INCOME PER SHARE OF COMMON STOCK

The Company issued certain profits interest participation rights, including certain PRPUs, that the Company is required under U.S. GAAP to treat as participating securities and therefore the Company is required to utilize the “two-class” method of computing basic and diluted net income per share.

The Company’s basic and diluted net income per share calculations using the “two-class” method for the three month periods ended March 31, 2022 and 2021 are presented below:

	Three Months Ended
	March 31,
	2022			2021
Net income attributable to Lazard Ltd	$	113,876		$	87,300
Add - adjustment for earnings attributable to participating securities		(1,733	)		(1,292	)
Net income attributable to Lazard Ltd - basic		112,143			86,008
Add - adjustment for earnings attributable to participating securities		1,129			1,292
Net income attributable to Lazard Ltd - diluted	$	113,272		$	87,300
Weighted average number of shares of common stock outstanding		100,634,720			105,545,273
Add - adjustment for shares of common stock issuable on a non-contingent basis		1,912,557			1,746,287
Weighted average number of shares of common stock outstanding - basic		102,547,277			107,291,560
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		5,639,365			8,530,734
Weighted average number of shares of common stock outstanding - diluted		108,186,642			115,822,294
Net income attributable to Lazard Ltd per share of common stock:
Basic	$	1.09		$	0.80
Diluted	$	1.05		$	0.75