Net Income Per Share of Common Stock

9 Months Ended

Sep. 30, 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 and nine month periods ended September 30, 2022 and 2021 are presented below:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Net income attributable to Lazard Ltd	$	105,797		$	107,209		$	315,153		$	317,687
Add - adjustment for earnings attributable to participating securities		(1,903	)		(1,808	)		(4,726	)		(4,649	)
Net income attributable to Lazard Ltd - basic		103,894			105,401			310,427			313,038
Add - adjustment for earnings attributable to participating securities		635			1,360			2,318			4,201
Net income attributable to Lazard Ltd - diluted	$	104,529		$	106,761		$	312,745		$	317,239
Weighted average number of shares of common stock outstanding		91,742,376			103,614,495			96,585,793			104,754,715
Add - adjustment for shares of common stock issuable on a non-contingent basis		1,533,255			1,801,248			1,575,234			1,729,937
Weighted average number of shares of common stock outstanding - basic		93,275,631			105,415,743			98,161,027			106,484,652
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		5,589,525			7,578,294			5,107,351			7,655,284
Weighted average number of shares of common stock outstanding - diluted		98,865,156			112,994,037			103,268,378			114,139,936
Net income attributable to Lazard Ltd per share of common stock:
Basic	$	1.11		$	1.00		$	3.16		$	2.94
Diluted	$	1.06		$	0.94		$	3.03		$	2.78