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STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Share Repurchase Authorized by Board of Directors

The Board of Directors of Lazard authorized the repurchase of Lazard, Inc. common stock (“common stock”) as set forth in the table below as of September 30, 2024:


Date	Repurchase Authorization		Expiration
February 2022	$	300,000	December 31, 2024
July 2022	$	500,000	December 31, 2024
July 2024	$	200,000	December 31, 2026

Schedule of Shares Repurchased Under the Share Repurchase Program

Purchases with respect to such program are set forth in the table below:


Nine Months Ended September 30:	Number of Shares Purchased	Average Price Per Share
2023	2,782,662	$	36.67
2024	1,123,413	$	39.10

Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax

The tables below reflect the balances of each component of AOCI at September 30, 2024 and 2023 and activity during the three month and nine month periods then ended:


	Three Months Ended September 30, 2024
	Currency Translation Adjustments		Employee Benefit Plans		Total AOCI		Amount Attributable to Noncontrolling Interests		Total Lazard, Inc. AOCI
Balance - July 1, 2024	$	(144,825)	$	(161,467)	$	(306,292)	$	1	$	(306,293)
Activity:
Other comprehensive income (loss) before reclassifications	41,627		(9,033)		32,594		33		32,561
Adjustments for items reclassified to earnings, net of tax	–		1,888		1,888		–		1,888
Net other comprehensive income (loss)	41,627		(7,145)		34,482		33		34,449
Balance, September 30, 2024	$	(103,198)	$	(168,612)	$	(271,810)	$	34	$	(271,844)


	Nine Months Ended September 30, 2024
	Currency Translation Adjustments		Employee Benefit Plans		Total AOCI		Amount Attributable to Noncontrolling Interests		Total Lazard, Inc. AOCI
Balance - January 1, 2024	$	(123,991)	$	(165,958)	$	(289,949)	$	1	$	(289,950)
Activity:
Other comprehensive income (loss) before reclassifications	20,793		(7,429)		13,364		33		13,331
Adjustments for items reclassified to earnings, net of tax	–		4,775		4,775		–		4,775
Net other comprehensive income (loss)	20,793		(2,654)		18,139		33		18,106
Balance, September 30, 2024	$	(103,198)	$	(168,612)	$	(271,810)	$	34	$	(271,844)


	Three Months Ended September 30, 2023
	Currency Translation Adjustments		Employee Benefit Plans		Total AOCI		Amount Attributable to Noncontrolling Interests		Total Lazard, Inc. AOCI
Balance - July 1, 2023	$	(139,907)	$	(141,980)	$	(281,887)	$	(1)	$	(281,886)
Activity:
Other comprehensive income (loss) before reclassifications	(19,935)		5,054		(14,881)		1		(14,882)
Adjustments for items reclassified to earnings, net of tax	2,129		1,580		3,709		–		3,709
Net other comprehensive income (loss)	(17,806)		6,634		(11,172)		1		(11,173)
Balance, September 30, 2023	$	(157,713)	$	(135,346)	$	(293,059)	$	–	$	(293,059)


	Nine Months Ended September 30, 2023
	Currency Translation Adjustments		Employee Benefit Plans		Total AOCI		Amount Attributable to Noncontrolling Interests		Total Lazard, Inc. AOCI
Balance - January 1, 2023	$	(156,924)	$	(138,930)	$	(295,854)	$	–	$	(295,854)
Activity:
Other comprehensive loss before reclassifications	(2,946)		(332)		(3,278)		–		(3,278)
Adjustments for items reclassified to earnings, net of tax	2,157		3,916		6,073		–		6,073
Net other comprehensive income (loss)	(789)		3,584		2,795		–		2,795
Balance, September 30, 2023	$	(157,713)	$	(135,346)	$	(293,059)	$	–	$	(293,059)

Schedule of Adjustments for Items Reclassified From AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month and nine month periods ended September 30, 2024 and 2023:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Currency translation losses (a)	$	–	$	2,129	$	–	$	2,157
Employee benefit plans:
Amortization relating to employee benefit plans (b)	2,433		1,954		6,230		5,051
Less - related income taxes	545		374		1,455		1,135
	1,888		1,580		4,775		3,916
Total reclassifications, net of tax	$	1,888	$	3,709	$	4,775	$	6,073

__________________________

(a)Represents currency translation losses reclassified from AOCI associated with closing of certain of our offices. Such amounts are included in “revenue–other” on the condensed consolidated statements of operations.

(b)Included in the computation of net periodic benefit cost (see Note 14). Such amounts are included in “operating expenses–other” on the condensed consolidated statements of operations.