Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program— Since 2021 and through the three month period ended March 31, 2022, the Board of Directors of Lazard authorized the repurchase of Lazard Ltd Class A common stock (“common stock”), the only class of common stock of Lazard outstanding, as set forth in the table below:

Date	Repurchase Authorization		Expiration
April 2021	$	300,000	December 31, 2022
February 2022	$	300,000	December 31, 2024

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, as amended (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 period to period 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 Shares Purchased		Average Price Per Share
2021		2,899,541	$	42.30
2022		4,717,821	$	37.26

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss) (“AOCI”), Net of Tax—The tables below reflect the balances of each component of AOCI at March 31, 2022 and 2021 and activity during the three month periods then ended:

	Three Months Ended March 31, 2022
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2022	$	(92,178	)	$	(131,669	)	$	(223,847	)	$	-		$	(223,847	)
Activity:
Other comprehensive income (loss) before    reclassifications		(18,068	)		3,439			(14,629	)		(1	)		(14,628	)
Adjustments for items reclassified to earnings,    net of tax		-			849			849			-			849
Net other comprehensive income (loss)		(18,068	)		4,288			(13,780	)		(1	)		(13,779	)
Balance, March 31, 2022	$	(110,246	)	$	(127,381	)	$	(237,627	)	$	(1	)	$	(237,626	)

	Three Months Ended March 31, 2021
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Ltd AOCI
Balance, January 1, 2021	$	(67,724	)	$	(170,644	)	$	(238,368	)	$	-	$	(238,368	)
Activity:
Other comprehensive income (loss) before    reclassifications		(19,743	)		1,065			(18,678	)		1		(18,679	)
Adjustments for items reclassified to earnings,    net of tax		-			1,336			1,336			-		1,336
Net other comprehensive income (loss)		(19,743	)		2,401			(17,342	)		1		(17,343	)
Balance, March 31, 2021	$	(87,467	)	$	(168,243	)	$	(255,710	)	$	1	$	(255,711	)

Adjustments for Items Reclassified From AOCI

The table below reflects adjustments for items reclassified from AOCI, by component, for the three month periods ended March 31, 2022 and 2021:

	Three Months Ended
	March 31,
	2022		2021
Employee benefit plans:
Amortization relating to employee benefit plans (a)	$	1,116	$	1,717
Less - related income taxes		267		381
Total reclassifications, net of tax	$	849	$	1,336

(a) Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “operating expenses—other” on the condensed consolidated statements of operations.

Net Income (Loss) Attributable to Noncontrolling Interests

The tables below summarize net income (loss) attributable to noncontrolling interests for the three month periods ended March 31, 2022 and 2021 and noncontrolling interests as of March 31, 2022 and December 31, 2021 in the Company’s condensed consolidated financial statements:

	Net Income (Loss) Attributable to Noncontrolling Interests
	Three Months Ended
	March 31,
	2022			2021
Edgewater	$	6,988		$	1,456
LFI Consolidated Funds		(2,751	)		2,268
LGAC		2,860			(200	)
Other		2			2
Total	$	7,099		$	3,526

	Noncontrolling Interests as of
	March 31,			December 31,
	2022			2021
Edgewater	$	47,485		$	44,826
Profits interest participation rights		5,650			4,049
LFI Consolidated Funds		79,100			67,299
LGAC		(12,447	)		(13,445	)
Other		14			15
Total	$	119,802		$	102,744