Net Income Per Share of Common Stock

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Share of Common Stock

18. 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 years ended December 31, 2022, 2021, and 2020 are presented below:

	Year Ended December 31,
	2022			2021			2020
Net income attributable to Lazard Ltd	$	357,517		$	528,064		$	402,461
Add - adjustment for earnings attributable to participating    securities		(5,732	)		(8,647	)		(7,667	)
Net income attributable to Lazard Ltd - basic		351,785			519,417			394,794
Add - adjustment for earnings attributable to participating    securities		2,641			7,068			6,429
Net income attributable to Lazard Ltd - diluted	$	354,426		$	526,485		$	401,223
Weighted average number of shares of common    stock outstanding		93,994,663			104,166,347			104,803,849
Add - adjustment for shares of common stock    issuable on a non-contingent basis		1,669,466			1,869,461			2,058,890
Weighted average number of shares of common    stock outstanding - basic		95,664,129			106,035,808			106,862,739
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of    common stock issuable from share-based    incentive compensation		5,333,545			7,638,891			6,620,641
Weighted average number of shares of common stock    outstanding - diluted		100,997,674			113,674,699			113,483,380
Net income attributable to Lazard Ltd per share of    common stock:
Basic	$	3.68		$	4.90		$	3.69
Diluted	$	3.51		$	4.63		$	3.54