Lazard 10-Q1 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

COVER

COVER	9 Months Ended
COVER	Sep. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	333-126751
Entity Registrant Name	LAZARD GROUP LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0278097
Entity Address, Address Line One	30 Rockefeller Plaza
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10112
City Area Code	212
Local Phone Number	632-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001326141
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands		Sep. 30, 2024		Dec. 31, 2023
ASSETS
Cash and cash equivalents		$ 1,160,545		$ 966,168
Deposits with banks and short-term investments		313,023		219,576
Restricted cash		34,998		34,091
Receivables (net of allowance for credit losses of $27,239 and $28,503 at September 30, 2024 and December 31, 2023, respectively):
Fees		529,322		560,552
Customers and other		152,705		201,767
Lazard, Inc. subsidiaries		83,523		82,451
Receivables		765,550		844,770
Investments		688,411		701,964
Property (net of accumulated amortization and depreciation of $332,911 and $414,547 at September 30, 2024 and December 31, 2023, respectively, including $72,921 of property held for sale at December 31, 2023)		158,440		232,516
Operating lease right-of-use assets		450,462		406,428
Goodwill and other intangible assets (net of accumulated amortization of $67,711 and $67,681 at September 30, 2024 and December 31, 2023, respectively)		373,755		373,604
Deferred tax assets		90,224		52,225
Other assets		395,327		398,983
Total Assets		4,430,735		4,230,325
Liabilities:
Deposits and other customer payables		346,834		443,262
Accrued compensation and benefits		633,712		780,789
Operating lease liabilities		521,521		484,380
Senior debt		1,852,843		1,690,200
Payable to Lazard, Inc. subsidiaries		24,841		19,334
Deferred tax liabilities		2,173		3,857
Other liabilities		608,589		538,363
Total Liabilities		3,990,513		3,960,185
Commitments and contingencies
Redeemable noncontrolling interests		84,467		87,675
MEMBERS’ EQUITY
Members' equity (net of 22,256,653 and 25,300,624 shares of Lazard, Inc. common stock, at a cost of $826,643 and $937,112 at September 30, 2024 and December 31, 2023, respectively)		561,560		410,311
Accumulated other comprehensive loss, net of tax		(256,461)		(274,431)
Total Lazard Group LLC Members’ Equity		305,099		135,880
Noncontrolling interests		50,656		46,585
Total Members’ Equity	[1]	355,755	[2]	182,465
Total Liabilities, Redeemable Noncontrolling Interests and Members’ Equity		$ 4,430,735		$ 4,230,325

[1] () At January 1, 2024 and September 30, 2024, in addition to profit participation interests, there were two managing member interests. () At July 1, 2024 and September 30, 2024, in addition to profit participation interests, there were two managing member interests.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowance for credit losses	$ 27,239	$ 28,503
Property, accumulated amortization and depreciation	332,911	414,547
Property, net	158,440	232,516
Other intangible assets, accumulated amortization	$ 67,711	$ 67,681
Common stock, shares	22,256,653	25,300,624
Common stock, cost	$ 826,643	$ 937,112
Office Building
Property, net		$ 72,921

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUE
Interest income	$ 14,919	$ 11,484	$ 38,841	$ 34,597
Other	147,368	410	210,646	40,507
Total revenue	807,335	543,258	2,301,098	1,766,203
Interest expense	22,524	18,763	65,055	56,425
Net revenue	784,811	524,495	2,236,043	1,709,778
OPERATING EXPENSES
Compensation and benefits	465,393	364,060	1,468,756	1,380,814
Occupancy and equipment	34,244	32,997	98,904	97,398
Marketing and business development	21,782	20,752	70,873	72,014
Technology and information services	44,628	46,858	135,947	142,182
Professional services	19,108	18,150	60,901	61,700
Fund administration and outsourced services	27,995	27,884	81,249	83,428
Amortization and other acquisition-related costs	53	96	189	239
Other	10,007	14,941	36,132	52,814
Total operating expenses	623,210	525,738	1,952,951	1,890,589
OPERATING INCOME (LOSS)	161,601	(1,243)	283,092	(180,811)
Provision (benefit) for income taxes	39,499	(29,374)	70,645	67,405
NET INCOME (LOSS)	122,102	28,131	212,447	(248,216)
LESS - NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS	8,198	(364)	14,811	10,245
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	113,904	28,495	197,636	(258,461)
Investment banking and other advisory fees
REVENUE
Revenue	366,385	265,764	1,228,185	892,383
Asset management fees
REVENUE
Revenue	$ 278,663	$ 265,600	$ 823,426	$ 798,716

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 122,102	$ 28,131	$ 212,447	$ (248,216)
Currency translation adjustments:
Currency translation adjustments before reclassification	41,490	(19,712)	20,656	(3,088)
Adjustment for items reclassified to earnings	0	2,472	0	2,500
Employee benefit plans:
Actuarial gain (loss) (net of tax expense (benefit) of $(2,254) and $1,195 for the three months ended September 30, 2024 and 2023, respectively, and $(1,595) and $121 for the nine months ended September 30, 2024 and 2023, respectively)	(9,033)	5,054	(7,429)	(332)
Adjustment for items reclassified to earnings (net of tax expense of $545 and $374 for the three months ended September 30, 2024 and 2023, respectively, and $1,455 and $1,135 for the nine months ended September 30, 2024 and 2023, respectively)	1,888	1,580	4,775	3,916
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	34,345	(10,606)	18,002	2,996
COMPREHENSIVE INCOME (LOSS)	156,447	17,525	230,449	(245,220)
LESS - COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS	8,231	(366)	14,843	10,244
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	$ 148,216	$ 17,891	$ 215,606	$ (255,464)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	$ (2,254)	$ 1,195	$ (1,595)	$ 121
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 545	$ 374	$ 1,455	$ 1,135

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 212,447	$ (248,216)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of deferred expenses and share-based incentive compensation	376,116	352,826
Noncash lease expense	49,698	47,509
Depreciation and amortization of property	27,284	32,172
Currency translation adjustment reclassification	0	2,500
Amortization and other acquisition-related costs	189	239
Deferred tax benefit	(34,533)	(10,280)
Gain on sale of property	(114,271)	0
Impairment of equity method investments and other receivables	0	22,981
Impairment of assets associated with cost-saving initiatives	0	8,561
Loss on LGAC liquidation	0	17,929
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Receivables-net	84,740	14,135
Investments	66,402	(100,714)
Other assets	(92,128)	(26,546)
Accrued compensation and benefits and other liabilities	(192,878)	(285,210)
Net cash provided by (used in) operating activities	383,066	(172,114)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(30,625)	(19,505)
Proceeds from sale of property	194,283	0
Purchase of equity method investment	(17,488)	0
Purchase of debt securities	(98,350)	0
Proceeds from sales and maturities of debt securities	50,000	0
Other disposals of property	1,995	352
Other investing activities	(723)	0
Acquisition of business, net of cash acquired	0	(10,516)
Net cash used in investing activities	99,092	(29,669)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from (payments for) customer deposits, net	(42,610)	(466,658)
Proceeds from:
Issuance of senior debt, net of expenses	396,010	0
Contributions from noncontrolling interests	1,839	1,198
Other financing activities	150	50
Payments for:
Extinguishment of senior debt	(233,073)	0
Distributions to noncontrolling interests	(3,956)	(5,068)
Distribution to redeemable noncontrolling interests in connection with LGAC redemption	0	(585,891)
Purchase of common stock	(43,928)	(102,051)
Distributions to members	(167,179)	(120,184)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements	(64,190)	(53,923)
LFI Consolidated Funds redemptions	(39,074)	(36,816)
Other financing activities	(12,192)	(10,186)
Net cash used in financing activities	(208,203)	(1,379,529)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	14,776	(5,183)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	288,731	(1,586,495)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1	1,219,835	2,585,100
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—September 30	$ 1,508,566	$ 998,605

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION:
Cash and cash equivalents	$ 1,160,545	$ 966,168
Deposits with banks and short-term investments	313,023	219,576
Restricted cash	34,998	34,091
TOTAL CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	$ 1,508,566	$ 1,219,835	$ 998,605	$ 2,585,100

CONDENSED CONSOLIDATED STATEM_8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($) $ in Thousands		Total		Members' Equity		Accumulated Other Comprehensive Income (Loss), Net of Tax		Total Lazard Group Members’ Equity	Noncontrolling Interests		Redeemable Noncontrolling Interests
Balance at the beginning at Dec. 31, 2022		$ 466,513	[1]	$ 638,956	[1]	$ (280,587)	[1]	$ 358,369	$ 108,144	[1]	$ 583,471	[1]
Comprehensive income:
Net income (loss)		(253,765)		(258,461)				(258,461)	4,696		5,549
Other comprehensive income (loss) - net of tax		2,996				2,997		2,997	(1)
Amortization of share-based incentive compensation		209,630		209,630				209,630
Distributions to members and noncontrolling interests, net		(124,054)		(120,184)				(120,184)	(3,870)
Purchase of common stock		(102,051)		(102,051)				(102,051)
Delivery of common stock in connection with share-based incentive compensation and related tax expense (benefit)		(53,914)		(53,914)				(53,914)
Business acquisition and related equity transactions: Common stock issuable		1,775		1,775				1,775
LFI Consolidated Funds		(74,164)							(74,164)		78,063
Change in redemption value of redeemable noncontrolling interests		(589)		(412)				(412)	(177)		589
Distribution to redeemable noncontrolling interests											(585,891)
Reversal to net loss of amounts previously charged to members' equity and noncontrolling interests		17,929		13,195				13,195	4,734
Reversal of deferred offering cost liability		20,125		14,087				14,087	6,038
Dividend-equivalents		(9,334)		(9,334)				(9,334)
Other		(697)		(680)				(680)	(17)
Balance at the end at Sep. 30, 2023	[1],[2]	100,400		332,607		(277,590)		55,017	45,383		81,781
Balance at the beginning at Jun. 30, 2023	[2]	78,017		302,566		(266,986)		35,580	42,437		83,583
Comprehensive income:
Net income (loss)		31,382		28,495				28,495	2,887		(3,251)
Other comprehensive income (loss) - net of tax		(10,606)				(10,604)		(10,604)	(2)
Amortization of share-based incentive compensation		58,362		58,362				58,362
(Distributions to) contributions from members and noncontrolling interests, net		(46,439)		(46,500)				(46,500)	61
Purchase of common stock		(2,954)		(2,954)				(2,954)
Delivery of common stock in connection with share-based incentive compensation and related tax expense (benefit)		(5,209)		(5,209)				(5,209)
LFI Consolidated Funds											1,449
Dividend-equivalents		(2,153)		(2,153)				(2,153)
Balance at the end at Sep. 30, 2023	[1],[2]	100,400		332,607		(277,590)		55,017	45,383		81,781
Balance at the beginning at Dec. 31, 2023		182,465	[3]	410,311	[3]	(274,431)	[3]	135,880	46,585	[3]	87,675	[3]
Comprehensive income:
Net income (loss)		203,792		197,636				197,636	6,156		8,655
Other comprehensive income (loss) - net of tax		18,002				17,970		17,970	32
Amortization of share-based incentive compensation		235,129		235,129				235,129
Distributions to members and noncontrolling interests, net		(169,296)		(167,179)				(167,179)	(2,117)
Purchase of common stock		(43,928)		(43,928)				(43,928)
Delivery of common stock in connection with share-based incentive compensation and related tax expense (benefit)		(64,246)		(64,246)				(64,246)
Contribution from members		1,606		1,606				1,606
Acquisition of Lazard, Inc. subsidiary		1,979		1,979				1,979
Business acquisition and related equity transactions: Common stock issuable		1,235		1,235				1,235
LFI Consolidated Funds											(11,863)
Dividend-equivalents		(11,107)		(11,107)				(11,107)
Other		124		124				124
Balance at the end at Sep. 30, 2024	[3],[4]	355,755		561,560		(256,461)		305,099	50,656		84,467
Balance at the beginning at Jun. 30, 2024	[4]	183,482		425,989		(290,773)		135,216	48,266		80,931
Comprehensive income:
Net income (loss)		116,525		113,904				113,904	2,621		5,577
Other comprehensive income (loss) - net of tax		34,345				34,312		34,312	33
Amortization of share-based incentive compensation		75,584		75,584				75,584
Distributions to members and noncontrolling interests, net		(45,364)		(45,100)				(45,100)	(264)
Purchase of common stock		(3,112)		(3,112)				(3,112)
Delivery of common stock in connection with share-based incentive compensation and related tax expense (benefit)		(2,618)		(2,618)				(2,618)
LFI Consolidated Funds											(2,041)
Dividend-equivalents		(3,274)		(3,274)				(3,274)
Other		187		187				187
Balance at the end at Sep. 30, 2024	[3],[4]	$ 355,755		$ 561,560		$ (256,461)		$ 305,099	$ 50,656		$ 84,467

[1] () At January 1, 2023 and September 30, 2023, in addition to profit participation interests, there were two managing member interests. () At July 1, 2023 and September 30, 2023, in addition to profit participation interests, there were two managing member interests. () At January 1, 2024 and September 30, 2024, in addition to profit participation interests, there were two managing member interests. () At July 1, 2024 and September 30, 2024, in addition to profit participation interests, there were two managing member interests.

CONDENSED CONSOLIDATED STATEM_9

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Related tax expense (benefit) of share-based incentive compensation on delivery common stock	$ 21	$ (6)	$ 56	$ (9)
Partnership Interest
Managing member interests (in shares)	2	2	2	2	2	2	2	2

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Organization The accompanying condensed consolidated financial statements are those of Lazard Group LLC and its subsidiaries (collectively referred to as “Lazard Group”, “we” or the “Company”). Lazard Group is a Delaware limited liability company, which is governed by an Amended and Restated Operating Agreement that is effective as of January 1, 2023 (the “Operating Agreement”). Lazard, Inc. and its subsidiaries (collectively referred to as “Lazard, Inc.”) is one of the world’s preeminent financial advisory and asset management firms, incorporated in Delaware, that specializes in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, governments, institutions, partnerships, family offices and individuals. On January 1, 2024, Lazard Ltd completed its conversion (the “Conversion”) from an exempted company incorporated under the laws of Bermuda named Lazard Ltd to a U.S. C-Corporation named Lazard, Inc. Lazard, Inc. indirectly held 100% of all outstanding common membership interests of Lazard Group as of September 30, 2024 and December 31, 2023. Lazard, Inc., through its control of the managing members of Lazard Group, controls Lazard Group. Lazard Group’s principal operating activities are included in two business segments: • Financial Advisory, which offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a wide array of financial advisory services regarding strategic and mergers and acquisitions (“M&A”) advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory matters and capital raising and placement, and • Asset Management, which offers a broad range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. In addition, we record selected other activities in our Corporate segment, including management of cash, investments and outstanding indebtedness. Basis of Presentation The accompanying condensed consolidated financial statements of Lazard have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard Group’s Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying December 31, 2023 unaudited condensed consolidated statement of financial condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the condensed consolidated financial statements and the accompanying disclosures. For example, discretionary compensation and benefits expense for interim periods is accrued based on the year-to-date amount of revenue earned, and an estimated annual ratio of compensation and benefits expense to revenue, with the applicable amounts adjusted for certain items. Although these estimates are based on management’s knowledge of current events and actions that Lazard may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the three month and nine month periods ended September 30, 2024 are not indicative of the results to be expected for any future interim or annual period. The condensed consolidated financial statements include Lazard Group and Lazard Group’s principal operating subsidiaries: Lazard Frères & Co. LLC (“LFNY”), a New York limited liability company, along with its subsidiaries, including Lazard Asset Management LLC and its subsidiaries (collectively referred to as “LAM”); the French limited liability companies Compagnie Financière Lazard Frères SAS (“CFLF”), along with its subsidiaries, Lazard Frères Banque SA (“LFB”) and Lazard Frères Gestion SAS (“LFG”), and Maison Lazard SAS and its subsidiaries; and Lazard & Co., Limited (“LCL”), through Lazard & Co., Holdings Limited (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries. The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates: • Voting interest entities (“VOEs”) where the Company holds a majority of the voting interest in such VOEs and • Variable interest entities (“VIEs”) where the Company is the primary beneficiary having the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of, or receive benefits from, the VIE that could be potentially significant to the VIE (see Note 20). When the Company does not have a controlling interest in an entity, but exerts significant influence over such entity’s operating and financial decisions, the Company either (i) applies the equity method of accounting in which it records a proportionate share of the entity’s net earnings or losses or (ii) elects the option to measure its investment at fair value. Intercompany transactions and balances have been eliminated.

RECENT ACCOUNTING DEVELOPMENTS

RECENT ACCOUNTING DEVELOPMENTS	9 Months Ended
RECENT ACCOUNTING DEVELOPMENTS	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING DEVELOPMENTS	RECENT ACCOUNTING DEVELOPMENTS Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures —In November 2023, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about each reportable segment’s expenses. The amendments include new annual and interim disclosure requirements primarily related to significant segment expenses, reportable segments’ profit or loss, and information on the chief operating decision maker. The new guidance is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments shall be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the new guidance. Income Taxes (Topic 740): Improvements to Income Tax Disclosures —In December 2023, the FASB issued an accounting standard update to enhance the transparency and decision usefulness of income tax disclosures. The amendments include new annual disclosure requirements related to the rate reconciliation, information about income taxes paid, and disaggregated information on pre-tax income or loss and income tax expense from continuing operations. The amendments also eliminated certain disclosure requirements. The new guidance is effective for annual periods beginning after December 15, 2024, and shall be applied on a prospective basis. The Company is currently evaluating the new guidance. Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
REVENUE RECOGNITION	Sep. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company disaggregates revenue based on its business segment results and believes that the following information provides a reasonable representation of how performance obligations relate to the nature, amount, timing and uncertainty of revenue and cash flows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Revenue: Financial Advisory (a) $ 370,918 $ 266,156 $ 1,236,319 $ 895,313 Asset Management: Management fees and other (b) $ 288,814 $ 282,657 $ 857,246 $ 843,590 Incentive fees (c) 5,064 2,198 17,595 13,622 Total Asset Management $ 293,878 $ 284,855 $ 874,841 $ 857,212 ___________________________________ (a) Financial Advisory is comprised of a wide array of financial advisory services regarding M&A advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory and capital raising and placement work for clients. The benefits of these advisory services are generally transferred to the Company’s clients over time, and consideration for these advisory services typically includes transaction completion, transaction announcement and retainer fees. Retainer fees are generally fixed and recognized over the period in which the advisory services are performed. However, transaction announcement and transaction completion fees are variable and subject to constraints, and they are typically not recognized until there is an announcement date or a completion date, respectively, due to the uncertainty associated with those events. Therefore, in any given period, advisory fees recognized for certain transactions may relate to services performed in prior periods. The advisory fees that may be unrecognized as of the end of a reporting period, primarily comprised of fees associated with transaction announcements and transaction completions, generally remain unrecognized due to the uncertainty associated with those events. (b) Management fees and other is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services generally includes management fees, which are based on assets under management and recognized over the period in which the management services are performed. The selling or distribution of fund interests is a separate performance obligation within management fees and other, and the benefits of such services are transferred to the Company’s clients at the point in time that such fund interests are sold or distributed. (c) Incentive fees is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services is generally variable and includes performance or incentive fees. The fees allocated to these management services that are unrecognized as of the end of the reporting period are generally amounts that are subject to constraints due to the uncertainty associated with performance targets and clawbacks. In addition to the above, contracts with clients include trade-based commission income, which is recognized at the point in time of execution and presented within other revenue. Such income may be earned by providing trade facilitation, execution, clearance and settlement, custody, and trade administration services to clients. With regard to the disclosure requirement for remaining performance obligations, the Company elected the practical expedients permitted in the guidance to (i) exclude contracts with a duration of one year or less; and (ii) exclude variable consideration, such as transaction completion and transaction announcement fees, that is allocated entirely to unsatisfied performance obligations. Excluded variable consideration typically relates to contracts with a duration of one year or less, and is generally constrained due to uncertainties. At September 30, 2024, the Company had deferred revenue of $137,040 included in “other liabilities” on the condensed consolidated statements of financial condition. During the three month and nine month periods ended September 30, 2024, the Company recognized $5,134 and $15,702 in revenue, respectively, that was included in the deferred revenue balance as of December 31, 2023 of $140,417.

RECEIVABLES AND ALLOWANCE FOR C

RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES	9 Months Ended
RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES	Sep. 30, 2024
Receivables [Abstract]
RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES	RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES The Company’s receivables represent fee receivables, amounts due from customers and other receivables and amounts due from Lazard, Inc. subsidiaries. Where applicable, receivables are stated net of an estimated allowance for credit losses determined in accordance with the current expected credit losses (“CECL”) model. Of the Company’s fee receivables at September 30, 2024 and December 31, 2023, $116,333 and $113,929, respectively, represented financing receivables for our Private Capital Advisory fees. At September 30, 2024 and December 31, 2023, customers and other receivables included $93,417 and $86,412, respectively, of customer loans provided by LFB to high net worth individuals and families, which are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of both September 30, 2024 and December 31, 2023. The aggregate carrying amount of other fees and customers and other receivables and amounts due from Lazard, Inc. subsidiaries was $555,800 and $644,429 at September 30, 2024 and December 31, 2023, respectively. Activity in the allowance for credit losses for the three month and nine month periods ended September 30, 2024 and 2023 was as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Beginning Balance $ 29,686 $ 27,095 $ 28,503 $ 17,737 Provision for credit losses, net of reversals (1,472) 2,267 3,451 13,287 Charge-offs (1,375) (8,345) (4,858) (10,231) Foreign currency translation and other adjustments 400 64 143 288 Ending Balance $ 27,239 $ 21,081 $ 27,239 $ 21,081 The provision for credit losses, net of reversals represents the current period provision of expected credit losses and is included in “operating expenses-other” on the condensed consolidated statements of operations. The allowance for credit losses is substantially all related to Financial Advisory fee receivables and other receivables.

INVESTMENTS

INVESTMENTS	9 Months Ended
INVESTMENTS	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS The Company’s investments consist of the following at September 30, 2024 and December 31, 2023: September 30, December 31, Debt $ 51,101 $ 4,285 Equity 57,798 54,717 Funds: Alternative investments (a) 59,558 61,680 Debt (a) 150,924 191,325 Equity (a) 304,736 343,139 Private equity 46,357 46,818 Total funds 561,575 642,962 Investments, at fair value 670,474 701,964 Equity method investments 17,937 – Total investments $ 688,411 $ 701,964 ___________________________________ (a) Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 20), with fair values of $23,829, $133,925 and $237,687, respectively, at September 30, 2024 and $27,454, $175,449 and $284,099, respectively, at December 31, 2023, held in order to satisfy the Company’s obligation upon vesting of previously granted Lazard Fund Interests (“LFI”) and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 7 and 13). Debt securities primarily consists of U.S. Treasury securities with remaining maturities at time of purchase of greater than three months and less than one year and investments in government securities held within separately managed accounts in order to seed strategies in our Asset Management business. Equity securities primarily consist of investments in marketable equity securities of large-, mid- and small-cap domestic, international and global companies held within separately managed accounts in order to seed strategies in our Asset Management business. Alternative investment funds primarily consist of interests in various Lazard-managed hedge funds, funds of funds and mutual funds. Such amounts primarily consist of investments in funds in order to seed strategies in our Asset Management business, and amounts related to LFI discussed above. Debt funds primarily consist of investments in debt securities in order to seed strategies in our Asset Management business and amounts related to LFI discussed above. Equity funds primarily consist of investments in equity securities in order to seed strategies in our Asset Management business, and amounts related to LFI discussed above. Private equity investments include those owned by Lazard and those consolidated but not owned by Lazard. Private equity investments owned by Lazard are primarily comprised of investments in private equity funds. Such investments primarily include (i) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a fund primarily making equity and buyout investments in middle market companies, (ii) a fund targeting significant noncontrolling-stake investments in established private companies and (iii) a seed investment in a fund that invests in sustainable private infrastructure opportunities. Private equity investments consolidated but not owned by Lazard relate to the economic interests that are owned by the management team and other investors in the Edgewater Funds (“Edgewater”). Equity method investments include an interest in a venture capital asset management entity accounted for under the equity method of accounting. The carrying amount includes amounts related to intangible assets, which are amortized, and goodwill. During the three month and nine month periods ended September 30, 2024 and 2023, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to equity securities and trading debt securities still held as of the reporting date as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net unrealized investment gains (losses) $ 23,050 $ (23,879) $ 23,803 $ 14,551

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value Hierarchy of Investments and Certain Other Assets and Liabilities —Lazard categorizes its investments and certain other assets and liabilities recorded at fair value into a three-level fair value hierarchy as follows: Level 1. Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that Lazard has the ability to access. Level 2. Assets and liabilities whose values are based on (i) quoted prices for similar assets or liabilities in an active market, or quoted prices for identical or similar assets or liabilities in non-active markets, or (ii) inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data. Level 3. Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis. The fair value of debt securities, including instruments reported as either cash and cash equivalents, deposits with banks and short-term investments, or investments, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets, or Level 2 when based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. The fair value of equity securities is classified as Level 1 or Level 3 as follows: marketable equity securities are classified as Level 1 and are valued based on the last trade price on the primary exchange for that security as provided by external pricing services; equity interests in private companies are generally classified as Level 3. The fair value of investments in alternative investment funds, debt funds and equity funds is classified as Level 1 when the fair values are based on the publicly reported closing price for the fund, or Level 2 when based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. The fair value of investments in certain private equity funds is classified as Level 3 for (i) certain investments that are valued based on the potential transaction value and (ii) when the acquisition price is considered the best measure of fair value. The fair value of securities sold, not yet purchased, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets. The fair value of the contingent consideration liability is classified as Level 3. The contingent consideration liability is initially recorded at fair value on the acquisition date and is included in “other liabilities” on the condensed consolidated statements of financial condition. The fair value of the contingent consideration liability is remeasured at each reporting period. The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods. Any change in the fair value is recognized in “amortization and other acquisition-related costs” in the condensed consolidated statements of operations. Our business acquisitions may involve the potential payment of contingent consideration upon the achievement of certain performance thresholds. The fair value of derivatives classified as Level 2 is based on the values of the related underlying assets, indices or reference rates as follows: the fair value of forward foreign currency exchange rate contracts is a function of the spot rate and the interest rate differential of the two currencies from the trade date to settlement date; the fair value of total return swaps is based on the change in fair value of the related underlying equity security, financial instrument or index and a specified notional holding; the fair value of interest rate swaps is based on the interest rate yield curve; and the fair value of derivative liabilities related to LFI and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. See Note 7. Investments Measured at Net Asset Value (“NAV”) —As a practical expedient, the Company uses NAV or its equivalent to measure the fair value of certain investments. NAV is primarily determined based on information provided by external fund administrators. The Company’s investments valued at NAV as a practical expedient in (i) alternative investment funds, debt funds and equity funds are redeemable in the near term, and (ii) private equity funds are not redeemable in the near term as a result of redemption restrictions. The following tables present, as of September 30, 2024 and December 31, 2023, the classification of (i) investments and certain other assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy and (ii) investments measured at NAV or its equivalent as a practical expedient: September 30, 2024 Level 1 Level 2 Level 3 NAV Total Assets: Cash and cash equivalents (a) $ 120,453 $ – $ – $ – $ 120,453 Deposits with banks and short-term 24,631 – – – 24,631 Investments: Debt (a) 49,673 1,428 – – 51,101 Equity 57,148 – 650 – 57,798 Funds: Alternative investments 11,078 – – 48,480 59,558 Debt 135,629 15,292 – 3 150,924 Equity 304,487 196 – 53 304,736 Private equity – – 276 46,081 46,357 Derivatives – 2,359 – – 2,359 Total $ 703,099 $ 19,275 $ 926 $ 94,617 $ 817,917 Liabilities: Securities sold, not yet purchased $ 5,041 $ – $ – $ – $ 5,041 Contingent consideration liability – – 4,442 – 4,442 Derivatives – 293,023 – – 293,023 Total $ 5,041 $ 293,023 $ 4,442 $ – $ 302,506 __________________________________ (a) Level 1 represents U.S. Treasury securities. December 31, 2023 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Debt $ 4,285 $ – $ – $ – $ 4,285 Equity 54,224 – 493 – 54,717 Funds: Alternative investments 15,676 – – 46,004 61,680 Debt 180,907 10,413 – 5 191,325 Equity 343,094 – – 45 343,139 Private equity – – 273 46,545 46,818 Derivatives – 2,789 – – 2,789 Total $ 598,186 $ 13,202 $ 766 $ 92,599 $ 704,753 Liabilities: Securities sold, not yet purchased $ 4,809 $ – $ – $ – $ 4,809 Contingent consideration liability – – 6,583 – 6,583 Derivatives – 368,673 – – 368,673 Total $ 4,809 $ 368,673 $ 6,583 $ – $ 380,065 The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the three month and nine month periods ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equity $ 611 $ 9 $ – $ – $ 30 $ 650 Private equity funds 264 – – – 12 276 Total Level 3 assets $ 875 $ 9 $ – $ – $ 42 $ 926 Liabilities: Contingent consideration $ 4,389 $ 53 $ – $ – $ – $ 4,442 Total Level 3 liabilities $ 4,389 $ 53 $ – $ – $ – $ 4,442 Nine Months Ended September 30, 2024 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equity $ 493 $ 46 $ 109 $ – $ 2 $ 650 Private equity funds 273 – – – 3 276 Total Level 3 assets $ 766 $ 46 $ 109 $ – $ 5 $ 926 Liabilities: Contingent consideration $ 6,583 $ 159 $ – $ (2,300) $ – $ 4,442 Total Level 3 liabilities $ 6,583 $ 159 $ – $ (2,300) $ – $ 4,442 Three Months Ended September 30, 2023 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equity $ 642 $ (95) $ – $ – $ (7) $ 540 Private equity funds 268 – – – (7) 261 Total Level 3 assets $ 910 $ (95) $ – $ – $ (14) $ 801 Liabilities: Contingent consideration $ 6,422 $ 81 $ – $ – $ – $ 6,503 Total Level 3 liabilities $ 6,422 $ 81 $ – $ – $ – $ 6,503 Nine Months Ended September 30, 2023 Beginning Net Unrealized/ Purchases/Acquisitions/ Sales/ Foreign Ending Assets: Investments: Equities $ 646 $ (81) $ – $ – $ (25) $ 540 Private equity funds 18,772 – – (18,508) (3) 261 Total Level 3 assets $ 19,418 $ (81) $ – $ (18,508) $ (28) $ 801 Liabilities: Contingent consideration $ – $ 194 $ 7,754 $ (1,445) $ – $ 6,503 Total Level 3 liabilities $ – $ 194 $ 7,754 $ (1,445) $ – $ 6,503 __________________________________ (a) Earnings recorded in “ other revenue amortization and other acquisition-related costs (b) For the nine month period ended September 30, 2023, acquisitions represent the initial recognition of the contingent consideration liability (noncash transaction). Settlements for the nine month periods ended September 30, 2024 and 2023 represent aggregate cash and noncash settlement of contingent consideration after the acquisition date. (c) Transfers out of Level 3 private equity funds in the nine month period ended September 30, 2023 reflect investments valued at NAV as of September 30, 2023 that were previously valued based on the acquisition price. The following tables present, at September 30, 2024 and December 31, 2023, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value: September 30, 2024 Investments Redeemable NAV Unfunded Commitments % of Redemption Frequency Redemption Notice Period Alternative investment funds: Hedge funds $ 47,780 $ – NA (a) 30-60 days Other 700 – NA (b) <30-30 days Debt funds 3 – NA (c) <30 days Equity funds 53 – NA (d) <30-30 days Private equity funds: Equity growth 46,081 5,448 (e) 100 % (f) NA NA Total $ 94,617 $ 5,448 ___________________________________ (a) monthly (74%) and quarterly (26%) (b) daily (4%) and monthly (96%) (c) daily (100%) (d) monthly (100%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,800 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f) Distributions from each fund will be received as the underlying investments of the funds are liquidated. December 31, 2023 Investments Redeemable NAV Unfunded % of Redemption Redemption Alternative investment funds: Hedge funds $ 45,324 $ – NA (a) 30-60 days Other 680 – NA (b) <30-30 days Debt funds 5 – NA (c) <30 days Equity funds 45 – NA (d) <30-60 days Private equity funds: Equity growth 46,545 5,505 (e) 100 % (f) NA NA Total $ 92,599 $ 5,505 ___________________________________ (a) monthly (74%) and quarterly (26%) (b) daily (4%) and monthly (96%) (c) daily (100%) (d) monthly (34%) and annually (66%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $9,605 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f) Distributions from each fund will be received as the underlying investments of the funds are liquidated.

DERIVATIVES

DERIVATIVES	9 Months Ended
DERIVATIVES	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The tables below present the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 13) on the accompanying condensed consolidated statements of financial condition as of September 30, 2024 and December 31, 2023. Notional amounts provide an indication of the volume of the Company's derivative activity. Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the condensed consolidated statements of financial condition where the Company has a right to set off under an enforceable master netting agreement. In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on the condensed consolidated statements of financial condition. September 30, 2024 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 2,526 $ 185,354 $ 4,499 $ 360,223 Total return swaps and other 103 1,042 20,920 130,344 LFI and other similar deferred compensation arrangements – – 284,968 254,637 Total gross derivatives 2,629 $ 186,396 310,387 $ 745,204 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (173) (172) Total return swaps and other (97) (17,192) Net derivatives in "other assets" and "other liabilities" 2,359 293,023 Amounts not netted on the statement of financial condition (a): Cash collateral (649) (2,126) Securities collateral – – $ 1,710 $ 290,897 December 31, 2023 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 3,400 $ 283,635 $ 1,847 $ 170,704 Total return swaps and other 133 4,478 12,290 117,139 LFI and other similar deferred compensation arrangements – – 365,420 352,891 Total gross derivatives 3,533 $ 288,113 379,557 $ 640,734 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (604) (603) Total return swaps and other (140) (10,281) Net derivatives in "other assets" and "other liabilities" 2,789 368,673 Amounts not netted on the statement of financial condition (a): Cash collateral – (243) Securities collateral – – $ 2,789 $ 368,430 ___________________________________ (a) Amounts are subject to master netting arrangements but do not meet the criteria for netting on the condensed consolidated statements of financial condition under U.S. GAAP. For some counterparties, the amounts of securities and cash collateral pledged may exceed the derivative assets and derivative liabilities balances. Where this is the case, the amount of collateral offset within net derivatives is limited to the net derivative assets and net derivative liabilities balances with that counterparty. Net gains (losses) with respect to derivative instruments (included in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and 2023 were as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Forward foreign currency exchange rate contracts $ (5,860) $ (984) $ (2,635) $ (1,684) LFI and other similar deferred compensation arrangements (16,732) 10,598 (24,904) (15,530) LGAC Warrants – – – 115 Total return swaps and other (8,143) 6,523 (14,086) (4,907) Total $ (30,735) $ 16,137 $ (41,625) $ (22,006)

PROPERTY, NET

PROPERTY, NET	9 Months Ended
PROPERTY, NET	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, NET	PROPERTY, NET At September 30, 2024 and December 31, 2023, property consisted of the following: Estimated September 30, December 31, Buildings (a) 33 $ 12,345 $ 170,830 Leasehold improvements (a) 3-20 217,339 233,732 Furniture and equipment 3-10 168,063 162,075 Computer software 3-5 68,157 68,638 Construction in progress 25,447 11,788 Total 491,351 647,063 Less - Accumulated depreciation and amortization (a) 332,911 414,547 Property, net $ 158,440 $ 232,516 ________________________ (a) On July 22, 2024, the Company completed the sale of an owned office building, including rights to the operating lease income, for gross proceeds of $194,283. The carrying amount of the property at the time of sale was $72,594. The asset was previously classified as property held for sale. In addition, a $6,550 receivable (included in “other assets”) related to operating lease income on the owned office building was classified as held for sale as of December 31, 2023. The sale resulted in a gain of $114,271, which has been recognized in “revenue-other” on the condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and is reported in the Corporate segment. Effective June 30, 2024, in the table above, computer software is being reported separately for September 30, 2024 and December 31, 2023. Computer software was previously included as a component of furniture and equipment. Prior year information has been recast to reflect the updated presentation.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The components of goodwill and other intangible assets at September 30, 2024 and December 31, 2023 are presented below: September 30, December 31, Goodwill $ 373,755 $ 373,574 Other intangible assets (net of accumulated amortization) – 30 $ 373,755 $ 373,604 Changes in the carrying amount of goodwill for the nine month periods ended September 30, 2024 and 2023 are as follows: Nine Months Ended September 30, 2024 2023 Financial Advisory Asset Management Total Financial Advisory Asset Management Total Balance, January 1 $ 292,304 $ 81,270 $ 373,574 $ 291,828 $ 64,541 $ 356,369 Acquisition of business – – – – 16,729 16,729 Foreign currency translation adjustments 181 – 181 (89) – (89) Balance, September 30 $ 292,485 $ 81,270 $ 373,755 $ 291,739 $ 81,270 $ 373,009

SENIOR DEBT

SENIOR DEBT	9 Months Ended
SENIOR DEBT	Sep. 30, 2024
Debt Disclosure [Abstract]
SENIOR DEBT	SENIOR DEBT Senior debt is comprised of the following as of September 30, 2024 and December 31, 2023: Outstanding as of September 30, 2024 December 31, 2023 Initial Maturity Annual Effective Interest Rate Principal Unamortized Carrying Principal Unamortized Carrying Lazard Group $ 400,000 2/13/25 3.75 % 3.77 % $ 164,347 $ 72 $ 164,275 $ 400,000 $ 531 $ 399,469 Lazard Group 300,000 3/1/27 3.625 % 3.76 % 300,000 943 299,057 300,000 1,235 298,765 Lazard Group 500,000 9/19/28 4.50 % 4.67 % 500,000 3,373 496,627 500,000 4,012 495,988 Lazard Group 500,000 3/11/29 4.375 % 4.53 % 500,000 3,442 496,558 500,000 4,022 495,978 Lazard Group 400,000 3/15/31 6.00 % 6.14 % 400,000 3,674 396,326 – – – Total $ 1,864,347 $ 11,504 $ 1,852,843 $ 1,700,000 $ 9,800 $ 1,690,200 __________________________ (a) In March 2024, Lazard Group completed an offering of $400,000 aggregate principal amount of 6.00% senior notes due in 2031. Interest on the 2031 Notes is payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2024. Lazard Group used a portion of the net proceeds from the 2031 Notes to purchase in a tender offer $235,653 aggregate principal amount of the 2025 Notes. On October 30, 2024, the Company announced that it will redeem all of the issued and outstanding 2025 Notes on December 12, 2024. The Company’s senior debt is unsecured and is carried at its principal amount outstanding, net of unamortized debt costs. At September 30, 2024 and December 31, 2023, the fair value of such senior debt was approximately $1,876,000 and $1,652,000, respectively. The fair value of the Company’s senior debt is based on market quotations. The Company’s senior debt would be categorized within Level 2 of the hierarchy of fair value measurements if carried at fair value. On June 6, 2023, Lazard Group entered into a Second Amended and Restated Credit Agreement with a group of lenders for a five-year, $200,000 senior revolving credit facility expiring in June 2028 (the “Second Amended and Restated Credit Agreement”). Borrowings under the Second Amended and Restated Credit Agreement generally will bear interest at adjusted term SOFR plus an applicable margin for specific interest periods determined based on Lazard Group’s highest credit rating from an internationally recognized credit agency. The Second Amended and Restated Credit Agreement contains certain covenants, events of default and other customary provisions, including customary benchmark-replacement mechanics. As of September 30, 2024, the Company had approximately $209,500 in unused lines of credit available to it, including the credit facility provided under the Second Amended and Restated Credit Agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Leases In June 2024, the Company commenced a non-cancelable office lease with a lease term of approximately 15 years. Such lease increased operating lease right-of-use assets and operating lease liabilities on the condensed consolidated statements of financial condition by $76,539 and $71,977, respectively, as of June 30, 2024, the initial recognition being a noncash transaction. In July 2024, the Company signed a lease agreement for additional office facilities, with lease commencement anticipated in 2027. The lease term is 10 years and has undiscounted future lease payments of approximately $110,000. Other Commitments See Notes 6 and 14 for information regarding commitments relating to investment capital funding commitments and obligations to fund our pension plans, respectively. The fulfillment of the commitments described herein should not have a material adverse effect on the Company’s condensed consolidated financial position or results of operations. Legal —The Company is involved from time to time in judicial, governmental, regulatory and arbitration proceedings and inquiries concerning matters arising in connection with the conduct of our businesses, including proceedings initiated by former employees alleging wrongful termination. The Company reviews such matters on a case-by-case basis and establishes any required accrual if a loss is probable and the amount of such loss can be reasonably estimated. The Company may experience significant variation in its revenue and earnings on a quarterly basis. Accordingly, the results of any pending matter or matters could be significant when compared to the Company’s earnings in any particular quarter. The Company believes, however, based on currently available information, that the results of any pending matters, in the aggregate, will not have a material effect on its business or financial condition.

MEMBERS_ EQUITY AND REDEEMABLE

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS	9 Months Ended
MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS	Sep. 30, 2024
Equity [Abstract]
MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS	MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS Lazard Group Distributions —Distributions in respect of Lazard Group’s common membership interests are allocated to the holders of such interests in accordance with the provisions of the Operating Agreement. Such distributions primarily represent amounts necessary to fund (i) any dividends Lazard, Inc. may declare on its common stock (“common stock”), and (ii) tax distributions in respect of income taxes that Lazard, Inc.’s subsidiaries incur. During the nine month periods ended September 30, 2024 and 2023, Lazard Group distributed $167,179 and $120,184, respectively, to the subsidiaries of Lazard, Inc. In addition, in March 2023, Lazard Group distributed 1,521,620 shares of common stock to one of its managing members, which is a subsidiary of Lazard, Inc., in a non-cash transaction, in connection with the settlement of profits interest participation rights during the nine month period ended September 30, 2023 (see Note 13). There was no impact on total members’ equity resulting from such distributions. Pursuant to Lazard Group’s Operating Agreement, Lazard Group allocates and distributes to its members a substantial portion of its distributable profits in installments as soon as practicable after the end of each fiscal year. Such installment distributions usually begin in February. Contributions From Members —See Note 17 for information regarding a related party transaction. Share Repurchase Program —The Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below as of September 30, 2024: Date Repurchase Expiration February 2022 $ 300,000 December 31, 2024 July 2022 $ 500,000 December 31, 2024 July 2024 $ 200,000 December 31, 2026 The Company’s purchases under the share repurchase program over time are used to offset dilution from the shares that have been or will be issued under Lazard, Inc.’s 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: Nine Months Ended September 30: Number of Average 2023 2,782,662 $ 36.67 2024 1,123,413 $ 39.10 During the nine month periods ended September 30, 2024 and 2023, certain of our executive officers received common stock in connection with the vesting or settlement of previously-granted deferred equity incentive awards. The vesting or settlement of such equity awards gave rise to a tax payable by the executive officers, and, consistent with our past practice, the Company purchased shares of common stock from certain of our executive officers equal in value to all or a portion of the estimated amount of such tax. In addition, during the nine month periods ended September 30, 2024 and 2023, the Company purchased shares of common stock from certain of our executive officers. The aggregate value of all such purchases during the nine month periods ended September 30, 2024 and 2023 was approximately $14,300 and $11,100, respectively. Such shares of common stock are reported at cost. As of September 30, 2024, a total of $356,166 of share repurchase authorization remained available under Lazard, Inc.’s share repurchase program, of which $156,166 will expire on December 31, 2024 and $200,000 will expire on December 31, 2026. During the nine month period ended September 30, 2024, Lazard, Inc. had in place trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), pursuant to which it effected stock repurchases in the open market. Accumulated Other Comprehensive Income (Loss) (“AOCI”), 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 Employee Total Amount Total Balance - July 1, 2024 $ (127,803) $ (162,969) $ (290,772) $ 1 $ (290,773) Activity: Other comprehensive income (loss) before reclassifications 41,490 (9,033) 32,457 33 32,424 Adjustments for items reclassified to earnings, net of tax – 1,888 1,888 – 1,888 Net other comprehensive income (loss) 41,490 (7,145) 34,345 33 34,312 Balance, September 30, 2024 $ (86,313) $ (170,114) $ (256,427) $ 34 $ (256,461) Nine Months Ended September 30, 2024 Currency Employee Total Amount Total Balance - January 1, 2024 $ (106,969) $ (167,460) $ (274,429) $ 2 $ (274,431) Activity: Other comprehensive income (loss) before reclassifications 20,656 (7,429) 13,227 32 13,195 Adjustments for items reclassified to earnings, net of tax – 4,775 4,775 – 4,775 Net other comprehensive income (loss) 20,656 (2,654) 18,002 32 17,970 Balance, September 30, 2024 $ (86,313) $ (170,114) $ (256,427) $ 34 $ (256,461) Three Months Ended September 30, 2023 Currency Employee Total Amount Total Balance - July 1, 2023 $ (123,450) $ (143,533) $ (266,983) $ 3 $ (266,986) Activity: Other comprehensive income (loss) before reclassifications (19,712) 5,054 (14,658) (2) (14,656) Adjustments for items reclassified to earnings, net of tax 2,472 1,580 4,052 – 4,052 Net other comprehensive income (loss) (17,240) 6,634 (10,606) (2) (10,604) Balance, September 30, 2023 $ (140,690) $ (136,899) $ (277,589) $ 1 $ (277,590) Nine Months Ended September 30, 2023 Currency Employee Total Amount Total Balance - January 1, 2023 $ (140,102) $ (140,483) $ (280,585) $ 2 $ (280,587) Activity: Other comprehensive loss before reclassifications (3,088) (332) (3,420) (1) (3,419) Adjustments for items reclassified to earnings, net of tax 2,500 3,916 6,416 – 6,416 Net other comprehensive income (loss) (588) 3,584 2,996 (1) 2,997 Balance, September 30, 2023 $ (140,690) $ (136,899) $ (277,589) $ 1 $ (277,590) 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 Nine Months Ended 2024 2023 2024 2023 Currency translation losses (a) $ – $ 2,472 $ – $ 2,500 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 $ 4,052 $ 4,775 $ 6,416 __________________________ (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. Noncontrolling Interests —Noncontrolling interests principally represent (i) interests held in Edgewater’s management vehicles that the Company is deemed to control, but does not own and (ii) LGAC interests (see Note 20). Redeemable Noncontrolling Interests —Redeemable noncontrolling interests principally represent consolidated VIE interests held by employees (vested LFI awards), which may be redeemed at any time at the option of the holder for cash, are recorded on the Company’s condensed consolidated statements of financial position at redemption value and classified as temporary equity. Changes in redemption value are recognized immediately as they occur and will adjust the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period (see Note 20).

INCENTIVE PLANS

INCENTIVE PLANS	9 Months Ended
INCENTIVE PLANS	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
INCENTIVE PLANS	INCENTIVE PLANS Share-Based Incentive Plan Awards Total shares available for issuance under incentive compensation plans are primarily from the 2018 Plan, which became effective on April 24, 2018 and was amended on May 9, 2024 to increase the aggregate number of shares authorized for issuance by 20,000,000 shares. The aggregate number of shares authorized for issuance under the 2018 Plan is 70,000,000. Such shares may be issued pursuant to the grant or exercise of stock options; stock appreciation rights; restricted stock units, restricted stock awards, and deferred stock units (collectively “RSUs”); performance-based restricted stock units (“PRSUs”); profits interest participation rights (“PIPRs”); and other share-based awards. Expense The following reflects the expense with respect to share-based incentive plans, which is primarily recorded within “compensation and benefits” expense in the Company’s accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Share-based incentive awards: RSUs $ 57,554 $ 46,902 $ 185,200 $ 158,761 PRSUs 318 569 1,037 1,920 PIPRs 17,655 10,815 47,942 48,077 Total $ 75,527 $ 58,286 $ 234,179 $ 208,758 Compensation and benefits expense relating to share-based awards with service and/or performance conditions is reversed if the awards are forfeited due to these conditions not being met. Compensation and benefits expense relating to share-based awards with market-based conditions is not reversed if these awards are forfeited based solely on failing to meet such market-based conditions. The Company periodically assesses forfeiture rates, including as a result of any applicable performance conditions. A change in estimated forfeiture rates or performance results in a cumulative adjustment to compensation and benefits expense and also would cause the aggregate amount of compensation expense recognized in future periods to differ from the estimated unrecognized compensation expense described below. The Company’s share-based incentive plans and awards are described below. RSUs and PRSUs RSUs generally require future service as a condition for vesting (unless the recipient is then eligible for retirement under the Company’s retirement policy or is a non-executive member of the Board of Directors) and convert into shares of common stock on a one-for-one basis after the stipulated vesting periods. The grant date fair value of the RSUs, net of an estimated forfeiture rate, is expensed over the requisite service periods (generally, one-third after two years and the remaining two-thirds after the third year), and is adjusted for actual forfeitures over such period. RSUs generally include a dividend participation right during the applicable vesting period, which is payable in additional units. During the nine month period ended September 30, 2024, dividend participation rights required the issuance of an aggregate 608,673 units of RSUs. In connection with RSUs and PRSUs that settled during the nine month period ended September 30, 2024, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 1,619,201 and 29,690 shares, respectively, of common stock during such nine month period. Accordingly, 2,537,447 and 33,479 shares, respectively, of common stock held by the Company were delivered during the nine month period ended September 30, 2024. PRSUs are a type of RSU that is incrementally subject to performance-based and service-based vesting conditions and a market-based condition. The number of shares of common stock that a recipient receives upon vesting of a PRSU is calculated by reference to certain performance-based and market-based metrics that relate to Lazard, Inc.’s performance over a three-year period. The target number of shares of common stock subject to each PRSU is one; however, based on the achievement of both the performance-based and market-based conditions, the number of shares of common stock that may be received will range from zero to 2.4 times the target number. PRSUs vest on a single date approximately three years following the date of the grant, provided the applicable service and performance conditions are satisfied. PRSUs include dividend participation rights that are subject to the same vesting restrictions (including performance conditions) as the underlying PRSUs to which they relate and are settled in cash at the same rate that dividends are paid on common stock. Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. The following is a summary of activity relating to RSUs and PRSUs during the nine month period ended September 30, 2024: RSUs PRSUs Units Weighted Units Weighted Balance, January 1, 2024 12,633,027 $ 36.16 125,465 $ 41.07 Granted (including 608,673 RSUs relating to dividend participation) 8,921,474 $ 38.75 – $ – Forfeited (882,108) $ 36.66 – $ – Settled (4,156,648) $ 38.54 (63,169) $ 46.63 Balance, September 30, 2024 16,515,745 $ 36.93 62,296 $ 35.44 The weighted-average grant date fair value of RSUs granted in the nine month period ended September 30, 2023 was $36.56. As of September 30, 2024, the total estimated unrecognized compensation expense related to RSUs and PRSUs was $245,018 and $73, respectively. The Company expects to expense such amounts over weighted-average periods of approximately 1.8 and 0.1 years, respectively, subsequent to September 30, 2024. PIPRs PIPRs are equity incentive awards that, subject to certain vesting and other conditions described below, may be exchanged for shares of common stock pursuant to the 2018 Plan. They are a class of membership interests in the Company that are intended to qualify as “profits interests” for U.S. federal income tax purposes and are recorded within members’ equity in the Company’s condensed consolidated statements of financial condition. PIPRs, with the exception of Stock Price PIPRs (“SP-PIPRs”), as explained below, generally provide for vesting approximately three years following the grant date, so long as applicable vesting and other conditions have been satisfied. PIPRs are subject to continued employment and other conditions and restrictions and are forfeited if those conditions and restrictions are not fulfilled. A recipient generally realizes value from PIPRs only to the extent that applicable vesting and other conditions are satisfied, and an amount of economic appreciation in the assets of the Company occurs as necessary to satisfy certain partnership tax rules (referred to as the “Minimum Value Condition”), otherwise the PIPRs will be forfeited. Upon satisfaction of such conditions, PIPRs that are in parity with the value of common stock will be exchanged on a one-for-one basis for shares of common stock. If forfeited based solely on failing to meet the Minimum Value Condition, or, if applicable, common stock price milestones as described below, the associated compensation expense would not be reversed. All PIPR awards are subject to service-based vesting conditions. In addition to PIPR awards with only service based vesting conditions (“Ordinary PIPRs”) granted to certain of our executive officers and a limited number of employees, the Company has granted the following types of PIPRs to certain of our executive officers, that are subject to additional vesting and market-based conditions: • Performance PIPRs (“P-PIPRs”), which are subject to service-based and performance-based vesting conditions and incremental market-based conditions. • SP-PIPRs, which are subject to service-based vesting conditions and common stock price milestones and are eligible to vest in three tranches. The number of shares of common stock that a recipient will receive upon the exchange of a P-PIPR award is calculated by reference to applicable performance-based vesting conditions and, beginning with P-PIPRs granted in 2021, incremental market-based conditions and only result in value to the recipient to the extent the vesting and other conditions are satisfied. The target number of shares of common stock subject to each P-PIPR is one. Based on the achievement of performance conditions, as determined and approved by the Compensation Committee, the number of shares of common stock that may be received in connection with the P-PIPR awards granted prior to February 2021 will range from zero to two times the target number. For the P-PIPR awards granted beginning in February 2021, subject to both performance-based and incremental market-based conditions, the number of shares that may be received will range from zero to 2.4 times the target number. Unless applicable vesting and other conditions are satisfied during the three-year performance period, and the Minimum Value Condition is satisfied within five years following the grant date, all P-PIPRs will be forfeited. SP-PIPRs are eligible to vest in three tranches (each, a “Tranche”) based on the achievement of service conditions and Tranche-specific common stock price milestones measured as of a specified anniversary of the date of grant, as described below. Their aggregate fair value at the grant date, which based on the estimated probability of achieving the common stock price milestones is approximately $33,900, is expensed over the requisite service periods. Each Tranche, as described below, is subject to the executive’s continued employment through the applicable anniversary of the date of grant and requires that the applicable common stock price milestone is sustained for any 30 consecutive day period prior to the anniversary of the date of grant of the applicable Tranche (the “Expiration Date”). SP-PIPRs vest: • 20% if, during the three years following the date of grant, the common stock price has appreciated 25% above the average trailing 30 consecutive day stock price preceding the date of grant (the “Grant Date Stock Price”); • 40% if, during the five years following the date of grant, the common stock price has appreciated 50% above the Grant Date Stock Price; • 40% if, during the seven years following the date of grant, the common stock price has appreciated 100% above the Grant Date Stock Price. If the service conditions and common stock price milestones, as described above, are not achieved as of the Expiration Date, all SP-PIPRs in such Tranche will be forfeited. The following is a summary of activity relating to all PIPRs during the nine month period ended September 30, 2024: Ordinary PIPRs (a) P-PIPRs SP-PIPRs Units Weighted Units Weighted Units Weighted Balance, January 1, 2024 2,640,769 $ 36.19 1,958,829 $ 41.12 2,250,000 $ 15.06 Granted 1,368,964 $ 38.26 – $ – – $ – Forfeited (61,878) $ 35.85 – $ – – $ – Settled (601,433) $ 43.23 (995,169) $ 46.63 – $ – Balance, September 30, 2024 3,346,422 $ 35.78 963,660 $ 35.44 2,250,000 $ 15.06 __________________________ (a) Includes PIPR awards with only service-based vesting conditions. Fair values shown above represent the weighted average as of grant date. The weighted-average grant date fair value of ordinary PIPRs and SP-PIPRs granted in the nine month periods ended September 30, 2023 was $35.94 and $15.06, respectively. Compensation expense recognized for ordinary PIPRs and P-PIPRs is determined by multiplying the number of shares of common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. Compensation expense recognized for SP-PIPRs is determined by multiplying the number of shares of common stock underlying such awards by the grant date fair value. As of September 30, 2024, the total estimated unrecognized compensation expense of all profits interest participation rights was $58,979 and the Company expects to expense such amount over a weighted-average period of approximately 3.0 years subsequent to September 30, 2024. LFI and Other Similar Deferred Compensation Arrangements In connection with LFI and other similar deferred compensation arrangements, granted to eligible employees, which generally require future service as a condition for vesting, the Company records a prepaid compensation asset and a corresponding compensation liability on the grant date based upon the fair value of the award. The prepaid asset is amortized on a straight-line basis over the applicable requisite service periods (which are generally similar to the comparable periods for RSUs) and is charged to “compensation and benefits” expense within the Company’s condensed consolidated statements of operations. LFI and similar deferred compensation arrangements that do not require future service are expensed immediately. The related compensation liability is accounted for at fair value as a derivative liability, which contemplates the impact of estimated forfeitures, and is adjusted for changes in fair value primarily related to changes in value of the underlying investments. The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the nine month period ended September 30, 2024: Prepaid Compensation Balance, January 1, 2024 $ 115,972 $ 365,420 Granted 40,227 40,227 Settled – (142,519) Amortization and the impact of forfeitures (84,550) (3,448) Change in fair value of underlying investments – 24,904 Other (73) 384 Balance, September 30, 2024 $ 71,576 $ 284,968 The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 1.3 years subsequent to September 30, 2024. The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Amortization and the impact of forfeitures $ 22,997 $ 41,368 $ 81,102 $ 133,454 Change in the fair value of underlying investments 16,732 (10,598) 24,904 15,530 Total $ 39,729 $ 30,770 $ 106,006 $ 148,984 Cash Retention Awards In the first nine months of 2024, the Company granted and paid approximately $94,000 of cash retention awards that are subject to repayment in full in connection with a termination of employment for cause or resignation without good reason on or prior to the three-year service period. In connection with these awards, the Company recorded a prepaid compensation asset on the grant date based upon the amount paid. The prepaid compensation asset is amortized over the requisite service period beginning on the grant date and is charged to “compensation and benefits” expense in the condensed consolidated statements of operations. Amortization expense for the nine months ended September 30, 2024 was approximately $47,000. The remaining prepaid compensation asset was approximately $44,000 as of September 30, 2024.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
EMPLOYEE BENEFIT PLANS	Sep. 30, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company provides retirement and other post-retirement benefits to certain of its employees through defined benefit pension plans (the “pension plans”). The Company also offers defined contribution plans to its employees. The pension plans generally provide benefits to participants based on average levels of compensation. Expenses related to the Company’s employee benefit plans are included in “compensation and benefits” expense for the service cost component, and “operating expenses-other” for the other components of benefit costs on the condensed consolidated statements of operations. Employer Contributions to Pension Plans —The Company’s funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans’ trustees. Management also evaluates from time to time whether to make voluntary contributions to the plans. The following table summarizes the components of net periodic benefit cost related to the Company’s pension plans for the three month and nine month periods ended September 30, 2024 and 2023: Pension Plans Three Months Ended September 30, 2024 2023 Components of Net Periodic Benefit Cost: Service cost $ 170 $ 74 Interest cost 5,345 5,322 Expected return on plan assets (6,721) (6,068) Amortization of: Prior service cost 138 28 Net actuarial loss 2,295 1,926 Settlement loss – 791 Net periodic benefit cost $ 1,227 $ 2,073 Pension Plans Nine Months Ended September 30, 2024 2023 Components of Net Periodic Benefit Cost: Service cost $ 498 $ 256 Interest cost 15,774 15,746 Expected return on plan assets (19,797) (17,916) Amortization of: Prior service cost 402 81 Net actuarial loss 5,828 4,970 Settlement loss – 2,333 Net periodic benefit cost $ 2,705 $ 5,470

COST-SAVING INITIATIVES

COST-SAVING INITIATIVES	9 Months Ended
COST-SAVING INITIATIVES	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
COST-SAVING INITIATIVES	COST-SAVING INITIATIVES The Company conducted firm-wide cost-saving initiatives over the course of 2023, which were completed during the first quarter of 2024. Expenses and losses associated with the cost-saving initiatives for the nine month period ended September 30, 2024 and for the three month and nine month periods ended September 30, 2023 consisted of the following: Nine Months Ended September 30, 2024 Financial Advisory Asset Management Corporate Total Severance and other employee $ 32,773 $ 11,545 $ 2,292 $ 46,610 Other 39 14 1,397 1,450 Total $ 32,812 $ 11,559 $ 3,689 $ 48,060 Three Months Ended September 30, 2023 Financial Advisory Asset Management Corporate Total Severance and other employee $ (529) $ 4,190 $ 4,772 $ 8,433 Technology asset impairments 56 515 – 571 Foreign exchange related losses associated with closing of certain offices (included in "revenue other") 2,507 – 2,483 4,990 Other 1,469 28 42 1,539 Total $ 3,503 $ 4,733 $ 7,297 $ 15,533 Nine Months Ended September 30, 2023 Financial Advisory Asset Management Corporate Total Severance and other employee $ 86,254 $ 44,958 $ 31,309 $ 162,521 Technology asset impairments 144 7,812 – 7,956 Foreign exchange related losses associated with closing of certain offices (included in "revenue-other") 2,507 – 2,483 4,990 Other 1,991 308 1,952 4,251 Total $ 90,896 $ 53,078 $ 35,744 $ 179,718 Activity related to the obligations pursuant to the cost-saving initiatives during the nine month period ended September 30, 2024 was as follows: Accrued Compensation and Benefits Other Total Balance, January 1, 2024 $ 51,346 $ 952 $ 52,298 Total expenses 46,610 1,450 48,060 Less: Noncash expenses (a) 9,249 2,349 11,598 Payments and settlements 79,797 53 79,850 Balance, September 30, 2024 $ 8,910 $ - $ 8,910 ___________________________________ (a)

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Lazard Group primarily operates in the U.S. as a limited liability company that is treated as a partnership for U.S. federal income tax purposes. As a result, Lazard Group’s income pertaining to the limited liability company is not subject to U.S. federal income tax because taxes associated with such income represent obligations of its partners. Lazard Group, through its subsidiaries, is subject to state and local taxes on its income apportioned to various state and local jurisdictions. Lazard Group operates principally through subsidiary corporations including through those domiciled outside the U.S. that are subject to local income taxes in foreign jurisdictions. In addition, Lazard Group is subject to Unincorporated Business Tax (“UBT”) attributable to its operations apportioned to New York City. The Company recorded income tax provision (benefit) of $39,499 and $70,645 for the three month and nine month periods ended September 30, 2024, respectively, and $(29,374) and $67,405 for the three month and nine month periods ended September 30, 2023, respectively, representing effective tax rates of 24.4%, 25.0%, 2,363.2% and (37.3)%, respectively. The difference between the U.S. federal statutory rate of 21.0% and the effective tax rates reflected above principally relates to (i) Lazard Group primarily operating as a limited liability company in the U.S., (ii) taxes payable to foreign jurisdictions, (iii) the tax impact of differences in the value of share based incentive compensation, changes in judgment relating to uncertain tax positions and other discrete items, (iv) change in the valuation allowance affecting the provision for income taxes and (v) U.S. state and local taxes, which are incremental to the U.S. federal statutory tax rate.

RELATED PARTIES

RELATED PARTIES	9 Months Ended
RELATED PARTIES	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES Receivable from and Payable to Lazard, Inc. Subsidiaries In the second quarter of 2024, a subsidiary of Lazard, Inc. contributed an interest-bearing intercompany loan, including interest thereon, of $1,606 due from a Lazard Group subsidiary to Lazard Group. Such amount was reflected in members’ equity as of September 30, 2024 and was a noncash transaction. Sponsored Funds The Company serves as an investment advisor for certain affiliated investment companies and fund entities and receives management fees and, for the alternative investment funds, performance-based incentive fees for providing such services. Asset management fees relating to such services were $140,025 and $407,875 for the three month and nine month periods ended September 30, 2024, respectively, and $135,899 and $405,269 for the three month and nine month periods ended September 30, 2023, respectively, and are included in “asset management fees” on the condensed consolidated statements of operations. Of such amounts, $52,589 and $67,598 remained as receivables at September 30, 2024 and December 31, 2023, respectively, and are included in “fees receivable” on the condensed consolidated statements of financial condition. Other See Note 12 for information regarding related party transactions pertaining to shares repurchased from certain of our executive officers.

REGULATORY AUTHORITIES

REGULATORY AUTHORITIES	9 Months Ended
REGULATORY AUTHORITIES	Sep. 30, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
REGULATORY AUTHORITIES	REGULATORY AUTHORITIES LFNY is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Exchange Act. Under the basic method permitted by this rule, the minimum required net capital, as defined, is a specified fixed percentage (6 2/3%) of total aggregate indebtedness recorded in LFNY’s Financial and Operational Combined Uniform Single (“FOCUS”) report filed with the Financial Industry Regulatory Authority (“FINRA”), or $5, whichever is greater. In addition, the ratio of aggregate indebtedness (as defined) to net capital may not exceed 15:1. At September 30, 2024, LFNY’s regulatory net capital was $126,504, which exceeded the minimum requirement by $119,918. LFNY’s aggregate indebtedness to net capital ratio was 0.78:1 as of September 30, 2024. Certain U.K. subsidiaries of the Company, including LCL, Lazard Fund Managers Limited and Lazard Asset Management Limited (collectively, the “U.K. Subsidiaries”) are regulated by the Financial Conduct Authority. At September 30, 2024, the aggregate regulatory net capital of the U.K. Subsidiaries was $156,894, which exceeded the minimum requirement by $79,560. CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”) for its banking activities conducted through its subsidiary, LFB. LFB, as a registered bank, is engaged primarily in commercial and private banking services for clients and funds managed by LFG (asset management) and other clients, and asset-liability management. The investment services activities exercised through LFB and other subsidiaries of CFLF, primarily LFG, also are subject to regulation and supervision by the Autorité des Marchés Financiers. At June 30, 2024, the consolidated regulatory net capital of CFLF was $160,273, which exceeded the minimum requirement set for regulatory capital levels by $68,870. In addition, pursuant to the consolidated supervision rules in the European Union, LFB, in particular, as a French credit institution, is required to be supervised by a regulatory body, either in the U.S. or in the European Union. LFB and certain other non-Financial Advisory subsidiaries of the Company in the European Union (referred to herein, on a combined basis, as the “combined European regulated group”) is subject to consolidated supervision based on an agreement with the ACPR and under such rules is required to comply with minimum requirements for regulatory net capital. At June 30, 2024, the regulatory net capital of the combined European regulated group was $182,588, which exceeded the minimum requirement set for regulatory capital levels by $83,794. Additionally, the combined European regulated group, together with our Financial Advisory entities in the European Union, is required to perform an annual risk assessment and provide certain other information on a periodic basis. Certain other U.S. and non-U.S. subsidiaries are subject to various capital adequacy requirements promulgated by various regulatory and exchange authorities in the countries in which they operate. At September 30, 2024, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $108,953, which exceeded the minimum required capital by $84,860. At September 30, 2024, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company’s reportable segments offer different products and services and are managed separately, as different levels and types of expertise are required to effectively manage the segments’ transactions. Each segment is reviewed to determine the allocation of resources and to assess its performance. The Company’s principal operating activities are included in its Financial Advisory and Asset Management business segments as described in Note 1. In addition, as described in Note 1, the Company records selected other activities in its Corporate segment. The Company’s segment information for the three month and nine month periods ended September 30, 2024 and 2023 is prepared using the following methodology: • Revenue and expenses directly associated with each segment are included in determining operating income. • Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including revenue, headcount, square footage and other factors. • Segment assets are based on those directly associated with each segment, and include an allocation of certain assets relating to various segments, based on the most relevant measures applicable, including headcount, square footage and other factors. The Company records other revenue, interest income and interest expense among the various segments based on the segment in which the underlying asset or liability is reported. Each segment’s operating expenses include (i) compensation and benefits expenses incurred directly in support of the businesses and (ii) other operating expenses, which include directly incurred expenses for occupancy and equipment, marketing and business development, technology and information services, professional services, fund administration and outsourced services and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, human resources, legal, information technology, facilities management and senior management activities. Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Financial Advisory Net Revenue $ 370,918 $ 266,156 $ 1,236,319 $ 895,313 Operating Expenses 333,962 294,848 1,132,578 1,057,506 Operating Income (Loss) $ 36,956 $ (28,692) $ 103,741 $ (162,193) Asset Management Net Revenue $ 293,878 $ 284,855 $ 874,841 $ 857,212 Operating Expenses 251,981 232,011 749,066 749,281 Operating Income $ 41,897 $ 52,844 $ 125,775 $ 107,931 Corporate Net Revenue (Loss) $ 120,015 $ (26,516) $ 124,883 $ (42,747) Operating Expenses (Credits) 37,267 (1,121) 71,307 83,802 Operating Income (Loss) $ 82,748 $ (25,395) $ 53,576 $ (126,549) Total Net Revenue $ 784,811 $ 524,495 $ 2,236,043 $ 1,709,778 Operating Expenses 623,210 525,738 1,952,951 1,890,589 Operating Income (Loss) $ 161,601 $ (1,243) $ 283,092 $ (180,811) As Of September 30, 2024 December 31, 2023 Total Assets Financial Advisory $ 1,149,194 $ 1,131,657 Asset Management 1,117,161 1,232,364 Corporate 2,164,380 1,866,304 Total $ 4,430,735 $ 4,230,325

CONSOLIDATED VIEs

CONSOLIDATED VIEs	9 Months Ended
CONSOLIDATED VIEs	Sep. 30, 2024
Variable Interest Entity, Measure of Activity [Abstract]
CONSOLIDATED VIEs	CONSOLIDATED VIEs LFI Consolidated Funds The Company’s consolidated VIEs as of September 30, 2024 and December 31, 2023 include certain funds (“LFI Consolidated Funds”) that were established for the benefit of employees participating in the Company’s existing LFI deferred compensation arrangement. Lazard invests in these funds and is the investment manager and is therefore deemed to have both the power to direct the most significant activities of the funds and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to these funds. The assets of LFI Consolidated Funds, except as it relates to $71,964 and $113,174 of LFI September 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 2,921 $ 4,627 Customers and other receivables 526 23,277 Investments 153,146 196,112 Other assets 493 683 Total assets $ 157,086 $ 224,699 LIABILITIES Deposits and other customer payables $ 293 $ 23,498 Other liabilities 362 353 Total liabilities $ 655 $ 23,851 Lazard Growth Acquisition Corp. I In addition, the Company’s consolidated VIEs for the nine month period ended September 30, 2023 included Lazard Growth Acquisition Corp. I (“LGAC”), a former special purpose acquisition company. The Company held a controlling financial interest in LGAC through a subsidiary’s ownership of Class B founder shares of LGAC. As a result, both LGAC and the sponsor were consolidated in the Company’s financial statements. “Redeemable noncontrolling interests” of $583,471 associated with the publicly held LGAC Class A ordinary shares were recorded on the Company’s consolidated statements of financial condition as of December 31, 2022 at redemption value and classified as temporary equity.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 113,904	$ 28,495	$ 197,636	$ (258,461)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Policies)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization The accompanying condensed consolidated financial statements are those of Lazard Group LLC and its subsidiaries (collectively referred to as “Lazard Group”, “we” or the “Company”). Lazard Group is a Delaware limited liability company, which is governed by an Amended and Restated Operating Agreement that is effective as of January 1, 2023 (the “Operating Agreement”). Lazard, Inc. and its subsidiaries (collectively referred to as “Lazard, Inc.”) is one of the world’s preeminent financial advisory and asset management firms, incorporated in Delaware, that specializes in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, governments, institutions, partnerships, family offices and individuals. On January 1, 2024, Lazard Ltd completed its conversion (the “Conversion”) from an exempted company incorporated under the laws of Bermuda named Lazard Ltd to a U.S. C-Corporation named Lazard, Inc. Lazard, Inc. indirectly held 100% of all outstanding common membership interests of Lazard Group as of September 30, 2024 and December 31, 2023. Lazard, Inc., through its control of the managing members of Lazard Group, controls Lazard Group. Lazard Group’s principal operating activities are included in two business segments: • Financial Advisory, which offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a wide array of financial advisory services regarding strategic and mergers and acquisitions (“M&A”) advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory matters and capital raising and placement, and • Asset Management, which offers a broad range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. In addition, we record selected other activities in our Corporate segment, including management of cash, investments and outstanding indebtedness.
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements of Lazard have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard Group’s Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying December 31, 2023 unaudited condensed consolidated statement of financial condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented.
Use of Estimates	Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the condensed consolidated financial statements and the accompanying disclosures. For example, discretionary compensation and benefits expense for interim periods is accrued based on the year-to-date amount of revenue earned, and an estimated annual ratio of compensation and benefits expense to revenue, with the applicable amounts adjusted for certain items. Although these estimates are based on management’s knowledge of current events and actions that Lazard may undertake in the future, actual results may differ materially from the estimates.
Consolidation	The condensed consolidated results of operations for the three month and nine month periods ended September 30, 2024 are not indicative of the results to be expected for any future interim or annual period. The condensed consolidated financial statements include Lazard Group and Lazard Group’s principal operating subsidiaries: Lazard Frères & Co. LLC (“LFNY”), a New York limited liability company, along with its subsidiaries, including Lazard Asset Management LLC and its subsidiaries (collectively referred to as “LAM”); the French limited liability companies Compagnie Financière Lazard Frères SAS (“CFLF”), along with its subsidiaries, Lazard Frères Banque SA (“LFB”) and Lazard Frères Gestion SAS (“LFG”), and Maison Lazard SAS and its subsidiaries; and Lazard & Co., Limited (“LCL”), through Lazard & Co., Holdings Limited (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries. The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates: • Voting interest entities (“VOEs”) where the Company holds a majority of the voting interest in such VOEs and • Variable interest entities (“VIEs”) where the Company is the primary beneficiary having the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of, or receive benefits from, the VIE that could be potentially significant to the VIE (see Note 20). When the Company does not have a controlling interest in an entity, but exerts significant influence over such entity’s operating and financial decisions, the Company either (i) applies the equity method of accounting in which it records a proportionate share of the entity’s net earnings or losses or (ii) elects the option to measure its investment at fair value. Intercompany transactions and balances have been eliminated.
Recent Accounting Developments	RECENT ACCOUNTING DEVELOPMENTS Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures —In November 2023, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about each reportable segment’s expenses. The amendments include new annual and interim disclosure requirements primarily related to significant segment expenses, reportable segments’ profit or loss, and information on the chief operating decision maker. The new guidance is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments shall be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the new guidance. Income Taxes (Topic 740): Improvements to Income Tax Disclosures —In December 2023, the FASB issued an accounting standard update to enhance the transparency and decision usefulness of income tax disclosures. The amendments include new annual disclosure requirements related to the rate reconciliation, information about income taxes paid, and disaggregated information on pre-tax income or loss and income tax expense from continuing operations. The amendments also eliminated certain disclosure requirements. The new guidance is effective for annual periods beginning after December 15, 2024, and shall be applied on a prospective basis. The Company is currently evaluating the new guidance. Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards
Revenue Recognition	The Company disaggregates revenue based on its business segment results and believes that the following information provides a reasonable representation of how performance obligations relate to the nature, amount, timing and uncertainty of revenue and cash flows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Revenue: Financial Advisory (a) $ 370,918 $ 266,156 $ 1,236,319 $ 895,313 Asset Management: Management fees and other (b) $ 288,814 $ 282,657 $ 857,246 $ 843,590 Incentive fees (c) 5,064 2,198 17,595 13,622 Total Asset Management $ 293,878 $ 284,855 $ 874,841 $ 857,212 ___________________________________ (a) Financial Advisory is comprised of a wide array of financial advisory services regarding M&A advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory and capital raising and placement work for clients. The benefits of these advisory services are generally transferred to the Company’s clients over time, and consideration for these advisory services typically includes transaction completion, transaction announcement and retainer fees. Retainer fees are generally fixed and recognized over the period in which the advisory services are performed. However, transaction announcement and transaction completion fees are variable and subject to constraints, and they are typically not recognized until there is an announcement date or a completion date, respectively, due to the uncertainty associated with those events. Therefore, in any given period, advisory fees recognized for certain transactions may relate to services performed in prior periods. The advisory fees that may be unrecognized as of the end of a reporting period, primarily comprised of fees associated with transaction announcements and transaction completions, generally remain unrecognized due to the uncertainty associated with those events. (b) Management fees and other is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services generally includes management fees, which are based on assets under management and recognized over the period in which the management services are performed. The selling or distribution of fund interests is a separate performance obligation within management fees and other, and the benefits of such services are transferred to the Company’s clients at the point in time that such fund interests are sold or distributed. (c) Incentive fees is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services is generally variable and includes performance or incentive fees. The fees allocated to these management services that are unrecognized as of the end of the reporting period are generally amounts that are subject to constraints due to the uncertainty associated with performance targets and clawbacks. In addition to the above, contracts with clients include trade-based commission income, which is recognized at the point in time of execution and presented within other revenue. Such income may be earned by providing trade facilitation, execution, clearance and settlement, custody, and trade administration services to clients. With regard to the disclosure requirement for remaining performance obligations, the Company elected the practical expedients permitted in the guidance to (i) exclude contracts with a duration of one year or less; and (ii) exclude variable consideration, such as transaction completion and transaction announcement fees, that is allocated entirely to unsatisfied performance obligations. Excluded variable consideration typically relates to contracts with a duration of one year or less, and is generally constrained due to uncertainties.
Receivables and Allowance for Credit Losses	The Company’s receivables represent fee receivables, amounts due from customers and other receivables and amounts due from Lazard, Inc. subsidiaries. Where applicable, receivables are stated net of an estimated allowance for credit losses determined in accordance with the current expected credit losses (“CECL”) model.
Fair Value Measurements	Fair Value Hierarchy of Investments and Certain Other Assets and Liabilities —Lazard categorizes its investments and certain other assets and liabilities recorded at fair value into a three-level fair value hierarchy as follows: Level 1. Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that Lazard has the ability to access. Level 2. Assets and liabilities whose values are based on (i) quoted prices for similar assets or liabilities in an active market, or quoted prices for identical or similar assets or liabilities in non-active markets, or (ii) inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data. Level 3. Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis. The fair value of debt securities, including instruments reported as either cash and cash equivalents, deposits with banks and short-term investments, or investments, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets, or Level 2 when based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. The fair value of equity securities is classified as Level 1 or Level 3 as follows: marketable equity securities are classified as Level 1 and are valued based on the last trade price on the primary exchange for that security as provided by external pricing services; equity interests in private companies are generally classified as Level 3. The fair value of investments in alternative investment funds, debt funds and equity funds is classified as Level 1 when the fair values are based on the publicly reported closing price for the fund, or Level 2 when based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. The fair value of investments in certain private equity funds is classified as Level 3 for (i) certain investments that are valued based on the potential transaction value and (ii) when the acquisition price is considered the best measure of fair value. The fair value of securities sold, not yet purchased, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets. The fair value of the contingent consideration liability is classified as Level 3. The contingent consideration liability is initially recorded at fair value on the acquisition date and is included in “other liabilities” on the condensed consolidated statements of financial condition. The fair value of the contingent consideration liability is remeasured at each reporting period. The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods. Any change in the fair value is recognized in “amortization and other acquisition-related costs” in the condensed consolidated statements of operations. Our business acquisitions may involve the potential payment of contingent consideration upon the achievement of certain performance thresholds. The fair value of derivatives classified as Level 2 is based on the values of the related underlying assets, indices or reference rates as follows: the fair value of forward foreign currency exchange rate contracts is a function of the spot rate and the interest rate differential of the two currencies from the trade date to settlement date; the fair value of total return swaps is based on the change in fair value of the related underlying equity security, financial instrument or index and a specified notional holding; the fair value of interest rate swaps is based on the interest rate yield curve; and the fair value of derivative liabilities related to LFI and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. See Note 7. Investments Measured at Net Asset Value (“NAV”) —As a practical expedient, the Company uses NAV or its equivalent to measure the fair value of certain investments. NAV is primarily determined based on information provided by external fund administrators. The Company’s investments valued at NAV as a practical expedient in (i) alternative investment funds, debt funds and equity funds are redeemable in the near term, and (ii) private equity funds are not redeemable in the near term as a result of redemption restrictions.
Derivatives	Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the condensed consolidated statements of financial condition where the Company has a right to set off under an enforceable master netting agreement.
Employer Contributions to Pension Plans	Employer Contributions to Pension Plans —The Company’s funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans’ trustees. Management also evaluates from time to time whether to make voluntary contributions to the plans.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
REVENUE RECOGNITION (Tables)	Sep. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Revenue Based on Business Segment Results	The Company disaggregates revenue based on its business segment results and believes that the following information provides a reasonable representation of how performance obligations relate to the nature, amount, timing and uncertainty of revenue and cash flows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Revenue: Financial Advisory (a) $ 370,918 $ 266,156 $ 1,236,319 $ 895,313 Asset Management: Management fees and other (b) $ 288,814 $ 282,657 $ 857,246 $ 843,590 Incentive fees (c) 5,064 2,198 17,595 13,622 Total Asset Management $ 293,878 $ 284,855 $ 874,841 $ 857,212 ___________________________________ (a) Financial Advisory is comprised of a wide array of financial advisory services regarding M&A advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory and capital raising and placement work for clients. The benefits of these advisory services are generally transferred to the Company’s clients over time, and consideration for these advisory services typically includes transaction completion, transaction announcement and retainer fees. Retainer fees are generally fixed and recognized over the period in which the advisory services are performed. However, transaction announcement and transaction completion fees are variable and subject to constraints, and they are typically not recognized until there is an announcement date or a completion date, respectively, due to the uncertainty associated with those events. Therefore, in any given period, advisory fees recognized for certain transactions may relate to services performed in prior periods. The advisory fees that may be unrecognized as of the end of a reporting period, primarily comprised of fees associated with transaction announcements and transaction completions, generally remain unrecognized due to the uncertainty associated with those events. (b) Management fees and other is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services generally includes management fees, which are based on assets under management and recognized over the period in which the management services are performed. The selling or distribution of fund interests is a separate performance obligation within management fees and other, and the benefits of such services are transferred to the Company’s clients at the point in time that such fund interests are sold or distributed. (c) Incentive fees is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services is generally variable and includes performance or incentive fees. The fees allocated to these management services that are unrecognized as of the end of the reporting period are generally amounts that are subject to constraints due to the uncertainty associated with performance targets and clawbacks.

RECEIVABLES AND ALLOWANCE FOR_2

RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Tables)	9 Months Ended
RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Tables)	Sep. 30, 2024
Receivables [Abstract]
Schedule of Activity in Allowance for Credit Losses	Activity in the allowance for credit losses for the three month and nine month periods ended September 30, 2024 and 2023 was as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Beginning Balance $ 29,686 $ 27,095 $ 28,503 $ 17,737 Provision for credit losses, net of reversals (1,472) 2,267 3,451 13,287 Charge-offs (1,375) (8,345) (4,858) (10,231) Foreign currency translation and other adjustments 400 64 143 288 Ending Balance $ 27,239 $ 21,081 $ 27,239 $ 21,081

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
INVESTMENTS (Tables)	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments and Securities Sold, not yet Purchased	The Company’s investments consist of the following at September 30, 2024 and December 31, 2023: September 30, December 31, Debt $ 51,101 $ 4,285 Equity 57,798 54,717 Funds: Alternative investments (a) 59,558 61,680 Debt (a) 150,924 191,325 Equity (a) 304,736 343,139 Private equity 46,357 46,818 Total funds 561,575 642,962 Investments, at fair value 670,474 701,964 Equity method investments 17,937 – Total investments $ 688,411 $ 701,964 ___________________________________ (a) Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 20), with fair values of $23,829, $133,925 and $237,687, respectively, at September 30, 2024 and $27,454, $175,449 and $284,099, respectively, at December 31, 2023, held in order to satisfy the Company’s obligation upon vesting of previously granted Lazard Fund Interests (“LFI”) and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 7 and 13).
Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses	During the three month and nine month periods ended September 30, 2024 and 2023, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to equity securities and trading debt securities still held as of the reporting date as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net unrealized investment gains (losses) $ 23,050 $ (23,879) $ 23,803 $ 14,551

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present, as of September 30, 2024 and December 31, 2023, the classification of (i) investments and certain other assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy and (ii) investments measured at NAV or its equivalent as a practical expedient: September 30, 2024 Level 1 Level 2 Level 3 NAV Total Assets: Cash and cash equivalents (a) $ 120,453 $ – $ – $ – $ 120,453 Deposits with banks and short-term 24,631 – – – 24,631 Investments: Debt (a) 49,673 1,428 – – 51,101 Equity 57,148 – 650 – 57,798 Funds: Alternative investments 11,078 – – 48,480 59,558 Debt 135,629 15,292 – 3 150,924 Equity 304,487 196 – 53 304,736 Private equity – – 276 46,081 46,357 Derivatives – 2,359 – – 2,359 Total $ 703,099 $ 19,275 $ 926 $ 94,617 $ 817,917 Liabilities: Securities sold, not yet purchased $ 5,041 $ – $ – $ – $ 5,041 Contingent consideration liability – – 4,442 – 4,442 Derivatives – 293,023 – – 293,023 Total $ 5,041 $ 293,023 $ 4,442 $ – $ 302,506 __________________________________ (a) Level 1 represents U.S. Treasury securities. December 31, 2023 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Debt $ 4,285 $ – $ – $ – $ 4,285 Equity 54,224 – 493 – 54,717 Funds: Alternative investments 15,676 – – 46,004 61,680 Debt 180,907 10,413 – 5 191,325 Equity 343,094 – – 45 343,139 Private equity – – 273 46,545 46,818 Derivatives – 2,789 – – 2,789 Total $ 598,186 $ 13,202 $ 766 $ 92,599 $ 704,753 Liabilities: Securities sold, not yet purchased $ 4,809 $ – $ – $ – $ 4,809 Contingent consideration liability – – 6,583 – 6,583 Derivatives – 368,673 – – 368,673 Total $ 4,809 $ 368,673 $ 6,583 $ – $ 380,065
Schedule of Changes in Fair Value of Company's Level 3 Assets and Liabilities	The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the three month and nine month periods ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equity $ 611 $ 9 $ – $ – $ 30 $ 650 Private equity funds 264 – – – 12 276 Total Level 3 assets $ 875 $ 9 $ – $ – $ 42 $ 926 Liabilities: Contingent consideration $ 4,389 $ 53 $ – $ – $ – $ 4,442 Total Level 3 liabilities $ 4,389 $ 53 $ – $ – $ – $ 4,442 Nine Months Ended September 30, 2024 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equity $ 493 $ 46 $ 109 $ – $ 2 $ 650 Private equity funds 273 – – – 3 276 Total Level 3 assets $ 766 $ 46 $ 109 $ – $ 5 $ 926 Liabilities: Contingent consideration $ 6,583 $ 159 $ – $ (2,300) $ – $ 4,442 Total Level 3 liabilities $ 6,583 $ 159 $ – $ (2,300) $ – $ 4,442 Three Months Ended September 30, 2023 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equity $ 642 $ (95) $ – $ – $ (7) $ 540 Private equity funds 268 – – – (7) 261 Total Level 3 assets $ 910 $ (95) $ – $ – $ (14) $ 801 Liabilities: Contingent consideration $ 6,422 $ 81 $ – $ – $ – $ 6,503 Total Level 3 liabilities $ 6,422 $ 81 $ – $ – $ – $ 6,503 Nine Months Ended September 30, 2023 Beginning Net Unrealized/ Purchases/Acquisitions/ Sales/ Foreign Ending Assets: Investments: Equities $ 646 $ (81) $ – $ – $ (25) $ 540 Private equity funds 18,772 – – (18,508) (3) 261 Total Level 3 assets $ 19,418 $ (81) $ – $ (18,508) $ (28) $ 801 Liabilities: Contingent consideration $ – $ 194 $ 7,754 $ (1,445) $ – $ 6,503 Total Level 3 liabilities $ – $ 194 $ 7,754 $ (1,445) $ – $ 6,503 __________________________________ (a) Earnings recorded in “ other revenue amortization and other acquisition-related costs (b) For the nine month period ended September 30, 2023, acquisitions represent the initial recognition of the contingent consideration liability (noncash transaction). Settlements for the nine month periods ended September 30, 2024 and 2023 represent aggregate cash and noncash settlement of contingent consideration after the acquisition date. (c) Transfers out of Level 3 private equity funds in the nine month period ended September 30, 2023 reflect investments valued at NAV as of September 30, 2023 that were previously valued based on the acquisition price.
Schedule of Fair Value of Certain Investments Based on NAV	The following tables present, at September 30, 2024 and December 31, 2023, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value: September 30, 2024 Investments Redeemable NAV Unfunded Commitments % of Redemption Frequency Redemption Notice Period Alternative investment funds: Hedge funds $ 47,780 $ – NA (a) 30-60 days Other 700 – NA (b) <30-30 days Debt funds 3 – NA (c) <30 days Equity funds 53 – NA (d) <30-30 days Private equity funds: Equity growth 46,081 5,448 (e) 100 % (f) NA NA Total $ 94,617 $ 5,448 ___________________________________ (a) monthly (74%) and quarterly (26%) (b) daily (4%) and monthly (96%) (c) daily (100%) (d) monthly (100%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,800 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f) Distributions from each fund will be received as the underlying investments of the funds are liquidated. December 31, 2023 Investments Redeemable NAV Unfunded % of Redemption Redemption Alternative investment funds: Hedge funds $ 45,324 $ – NA (a) 30-60 days Other 680 – NA (b) <30-30 days Debt funds 5 – NA (c) <30 days Equity funds 45 – NA (d) <30-60 days Private equity funds: Equity growth 46,545 5,505 (e) 100 % (f) NA NA Total $ 92,599 $ 5,505 ___________________________________ (a) monthly (74%) and quarterly (26%) (b) daily (4%) and monthly (96%) (c) daily (100%) (d) monthly (34%) and annually (66%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $9,605 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f) Distributions from each fund will be received as the underlying investments of the funds are liquidated.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
DERIVATIVES (Tables)	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition	The tables below present the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 13) on the accompanying condensed consolidated statements of financial condition as of September 30, 2024 and December 31, 2023. Notional amounts provide an indication of the volume of the Company's derivative activity. Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the condensed consolidated statements of financial condition where the Company has a right to set off under an enforceable master netting agreement. In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on the condensed consolidated statements of financial condition. September 30, 2024 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 2,526 $ 185,354 $ 4,499 $ 360,223 Total return swaps and other 103 1,042 20,920 130,344 LFI and other similar deferred compensation arrangements – – 284,968 254,637 Total gross derivatives 2,629 $ 186,396 310,387 $ 745,204 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (173) (172) Total return swaps and other (97) (17,192) Net derivatives in "other assets" and "other liabilities" 2,359 293,023 Amounts not netted on the statement of financial condition (a): Cash collateral (649) (2,126) Securities collateral – – $ 1,710 $ 290,897 December 31, 2023 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 3,400 $ 283,635 $ 1,847 $ 170,704 Total return swaps and other 133 4,478 12,290 117,139 LFI and other similar deferred compensation arrangements – – 365,420 352,891 Total gross derivatives 3,533 $ 288,113 379,557 $ 640,734 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (604) (603) Total return swaps and other (140) (10,281) Net derivatives in "other assets" and "other liabilities" 2,789 368,673 Amounts not netted on the statement of financial condition (a): Cash collateral – (243) Securities collateral – – $ 2,789 $ 368,430 ___________________________________ (a) Amounts are subject to master netting arrangements but do not meet the criteria for netting on the condensed consolidated statements of financial condition under U.S. GAAP. For some counterparties, the amounts of securities and cash collateral pledged may exceed the derivative assets and derivative liabilities balances. Where this is the case, the amount of collateral offset within net derivatives is limited to the net derivative assets and net derivative liabilities balances with that counterparty.
Schedule of Net Gains and (Losses) With Respect To Derivative Instruments (Including Derivatives Not Designed As Hedging Instruments)	Net gains (losses) with respect to derivative instruments (included in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and 2023 were as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Forward foreign currency exchange rate contracts $ (5,860) $ (984) $ (2,635) $ (1,684) LFI and other similar deferred compensation arrangements (16,732) 10,598 (24,904) (15,530) LGAC Warrants – – – 115 Total return swaps and other (8,143) 6,523 (14,086) (4,907) Total $ (30,735) $ 16,137 $ (41,625) $ (22,006)

PROPERTY, NET (Tables)

PROPERTY, NET (Tables)	9 Months Ended
PROPERTY, NET (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Components of Property	At September 30, 2024 and December 31, 2023, property consisted of the following: Estimated September 30, December 31, Buildings (a) 33 $ 12,345 $ 170,830 Leasehold improvements (a) 3-20 217,339 233,732 Furniture and equipment 3-10 168,063 162,075 Computer software 3-5 68,157 68,638 Construction in progress 25,447 11,788 Total 491,351 647,063 Less - Accumulated depreciation and amortization (a) 332,911 414,547 Property, net $ 158,440 $ 232,516 ________________________ (a)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Components of Goodwill and Other Intangible Assets	The components of goodwill and other intangible assets at September 30, 2024 and December 31, 2023 are presented below: September 30, December 31, Goodwill $ 373,755 $ 373,574 Other intangible assets (net of accumulated amortization) – 30 $ 373,755 $ 373,604
Schedule Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill for the nine month periods ended September 30, 2024 and 2023 are as follows: Nine Months Ended September 30, 2024 2023 Financial Advisory Asset Management Total Financial Advisory Asset Management Total Balance, January 1 $ 292,304 $ 81,270 $ 373,574 $ 291,828 $ 64,541 $ 356,369 Acquisition of business – – – – 16,729 16,729 Foreign currency translation adjustments 181 – 181 (89) – (89) Balance, September 30 $ 292,485 $ 81,270 $ 373,755 $ 291,739 $ 81,270 $ 373,009

SENIOR DEBT (Tables)

SENIOR DEBT (Tables)	9 Months Ended
SENIOR DEBT (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Senior Debt	Senior debt is comprised of the following as of September 30, 2024 and December 31, 2023: Outstanding as of September 30, 2024 December 31, 2023 Initial Maturity Annual Effective Interest Rate Principal Unamortized Carrying Principal Unamortized Carrying Lazard Group $ 400,000 2/13/25 3.75 % 3.77 % $ 164,347 $ 72 $ 164,275 $ 400,000 $ 531 $ 399,469 Lazard Group 300,000 3/1/27 3.625 % 3.76 % 300,000 943 299,057 300,000 1,235 298,765 Lazard Group 500,000 9/19/28 4.50 % 4.67 % 500,000 3,373 496,627 500,000 4,012 495,988 Lazard Group 500,000 3/11/29 4.375 % 4.53 % 500,000 3,442 496,558 500,000 4,022 495,978 Lazard Group 400,000 3/15/31 6.00 % 6.14 % 400,000 3,674 396,326 – – – Total $ 1,864,347 $ 11,504 $ 1,852,843 $ 1,700,000 $ 9,800 $ 1,690,200 __________________________ (a) In March 2024, Lazard Group completed an offering of $400,000 aggregate principal amount of 6.00% senior notes due in 2031. Interest on the 2031 Notes is payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2024. Lazard Group used a portion of the net proceeds from the 2031 Notes to purchase in a tender offer $235,653 aggregate principal amount of the 2025 Notes. On October 30, 2024, the Company announced that it will redeem all of the issued and outstanding 2025 Notes on December 12, 2024.

MEMBERS_ EQUITY AND REDEEMABL_2

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Share Repurchase Authorized by Board of Directors	The Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below as of September 30, 2024: Date Repurchase 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 Average 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 Employee Total Amount Total Balance - July 1, 2024 $ (127,803) $ (162,969) $ (290,772) $ 1 $ (290,773) Activity: Other comprehensive income (loss) before reclassifications 41,490 (9,033) 32,457 33 32,424 Adjustments for items reclassified to earnings, net of tax – 1,888 1,888 – 1,888 Net other comprehensive income (loss) 41,490 (7,145) 34,345 33 34,312 Balance, September 30, 2024 $ (86,313) $ (170,114) $ (256,427) $ 34 $ (256,461) Nine Months Ended September 30, 2024 Currency Employee Total Amount Total Balance - January 1, 2024 $ (106,969) $ (167,460) $ (274,429) $ 2 $ (274,431) Activity: Other comprehensive income (loss) before reclassifications 20,656 (7,429) 13,227 32 13,195 Adjustments for items reclassified to earnings, net of tax – 4,775 4,775 – 4,775 Net other comprehensive income (loss) 20,656 (2,654) 18,002 32 17,970 Balance, September 30, 2024 $ (86,313) $ (170,114) $ (256,427) $ 34 $ (256,461) Three Months Ended September 30, 2023 Currency Employee Total Amount Total Balance - July 1, 2023 $ (123,450) $ (143,533) $ (266,983) $ 3 $ (266,986) Activity: Other comprehensive income (loss) before reclassifications (19,712) 5,054 (14,658) (2) (14,656) Adjustments for items reclassified to earnings, net of tax 2,472 1,580 4,052 – 4,052 Net other comprehensive income (loss) (17,240) 6,634 (10,606) (2) (10,604) Balance, September 30, 2023 $ (140,690) $ (136,899) $ (277,589) $ 1 $ (277,590) Nine Months Ended September 30, 2023 Currency Employee Total Amount Total Balance - January 1, 2023 $ (140,102) $ (140,483) $ (280,585) $ 2 $ (280,587) Activity: Other comprehensive loss before reclassifications (3,088) (332) (3,420) (1) (3,419) Adjustments for items reclassified to earnings, net of tax 2,500 3,916 6,416 – 6,416 Net other comprehensive income (loss) (588) 3,584 2,996 (1) 2,997 Balance, September 30, 2023 $ (140,690) $ (136,899) $ (277,589) $ 1 $ (277,590)
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 Nine Months Ended 2024 2023 2024 2023 Currency translation losses (a) $ – $ 2,472 $ – $ 2,500 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 $ 4,052 $ 4,775 $ 6,416 __________________________ (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.

INCENTIVE PLANS (Tables)

INCENTIVE PLANS (Tables)	9 Months Ended
INCENTIVE PLANS (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense	The following reflects the expense with respect to share-based incentive plans, which is primarily recorded within “compensation and benefits” expense in the Company’s accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Share-based incentive awards: RSUs $ 57,554 $ 46,902 $ 185,200 $ 158,761 PRSUs 318 569 1,037 1,920 PIPRs 17,655 10,815 47,942 48,077 Total $ 75,527 $ 58,286 $ 234,179 $ 208,758
Schedule of LFI and Other Similar Deferred Compensation Arrangements	The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the nine month period ended September 30, 2024: Prepaid Compensation Balance, January 1, 2024 $ 115,972 $ 365,420 Granted 40,227 40,227 Settled – (142,519) Amortization and the impact of forfeitures (84,550) (3,448) Change in fair value of underlying investments – 24,904 Other (73) 384 Balance, September 30, 2024 $ 71,576 $ 284,968 The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Amortization and the impact of forfeitures $ 22,997 $ 41,368 $ 81,102 $ 133,454 Change in the fair value of underlying investments 16,732 (10,598) 24,904 15,530 Total $ 39,729 $ 30,770 $ 106,006 $ 148,984
RSUs and PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity relating to RSUs and PRSUs during the nine month period ended September 30, 2024: RSUs PRSUs Units Weighted Units Weighted Balance, January 1, 2024 12,633,027 $ 36.16 125,465 $ 41.07 Granted (including 608,673 RSUs relating to dividend participation) 8,921,474 $ 38.75 – $ – Forfeited (882,108) $ 36.66 – $ – Settled (4,156,648) $ 38.54 (63,169) $ 46.63 Balance, September 30, 2024 16,515,745 $ 36.93 62,296 $ 35.44
PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity relating to all PIPRs during the nine month period ended September 30, 2024: Ordinary PIPRs (a) P-PIPRs SP-PIPRs Units Weighted Units Weighted Units Weighted Balance, January 1, 2024 2,640,769 $ 36.19 1,958,829 $ 41.12 2,250,000 $ 15.06 Granted 1,368,964 $ 38.26 – $ – – $ – Forfeited (61,878) $ 35.85 – $ – – $ – Settled (601,433) $ 43.23 (995,169) $ 46.63 – $ – Balance, September 30, 2024 3,346,422 $ 35.78 963,660 $ 35.44 2,250,000 $ 15.06 __________________________ (a)

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
EMPLOYEE BENEFIT PLANS (Tables)	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of of Net Periodic Benefit Cost	The following table summarizes the components of net periodic benefit cost related to the Company’s pension plans for the three month and nine month periods ended September 30, 2024 and 2023: Pension Plans Three Months Ended September 30, 2024 2023 Components of Net Periodic Benefit Cost: Service cost $ 170 $ 74 Interest cost 5,345 5,322 Expected return on plan assets (6,721) (6,068) Amortization of: Prior service cost 138 28 Net actuarial loss 2,295 1,926 Settlement loss – 791 Net periodic benefit cost $ 1,227 $ 2,073 Pension Plans Nine Months Ended September 30, 2024 2023 Components of Net Periodic Benefit Cost: Service cost $ 498 $ 256 Interest cost 15,774 15,746 Expected return on plan assets (19,797) (17,916) Amortization of: Prior service cost 402 81 Net actuarial loss 5,828 4,970 Settlement loss – 2,333 Net periodic benefit cost $ 2,705 $ 5,470

COST-SAVING INITIATIVES (Tables

COST-SAVING INITIATIVES (Tables)	9 Months Ended
COST-SAVING INITIATIVES (Tables)	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Activities Related to Cost Savings Initiatives	Expenses and losses associated with the cost-saving initiatives for the nine month period ended September 30, 2024 and for the three month and nine month periods ended September 30, 2023 consisted of the following: Nine Months Ended September 30, 2024 Financial Advisory Asset Management Corporate Total Severance and other employee $ 32,773 $ 11,545 $ 2,292 $ 46,610 Other 39 14 1,397 1,450 Total $ 32,812 $ 11,559 $ 3,689 $ 48,060 Three Months Ended September 30, 2023 Financial Advisory Asset Management Corporate Total Severance and other employee $ (529) $ 4,190 $ 4,772 $ 8,433 Technology asset impairments 56 515 – 571 Foreign exchange related losses associated with closing of certain offices (included in "revenue other") 2,507 – 2,483 4,990 Other 1,469 28 42 1,539 Total $ 3,503 $ 4,733 $ 7,297 $ 15,533 Nine Months Ended September 30, 2023 Financial Advisory Asset Management Corporate Total Severance and other employee $ 86,254 $ 44,958 $ 31,309 $ 162,521 Technology asset impairments 144 7,812 – 7,956 Foreign exchange related losses associated with closing of certain offices (included in "revenue-other") 2,507 – 2,483 4,990 Other 1,991 308 1,952 4,251 Total $ 90,896 $ 53,078 $ 35,744 $ 179,718 Activity related to the obligations pursuant to the cost-saving initiatives during the nine month period ended September 30, 2024 was as follows: Accrued Compensation and Benefits Other Total Balance, January 1, 2024 $ 51,346 $ 952 $ 52,298 Total expenses 46,610 1,450 48,060 Less: Noncash expenses (a) 9,249 2,349 11,598 Payments and settlements 79,797 53 79,850 Balance, September 30, 2024 $ 8,910 $ - $ 8,910 ___________________________________ (a)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
SEGMENT INFORMATION (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets	Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Financial Advisory Net Revenue $ 370,918 $ 266,156 $ 1,236,319 $ 895,313 Operating Expenses 333,962 294,848 1,132,578 1,057,506 Operating Income (Loss) $ 36,956 $ (28,692) $ 103,741 $ (162,193) Asset Management Net Revenue $ 293,878 $ 284,855 $ 874,841 $ 857,212 Operating Expenses 251,981 232,011 749,066 749,281 Operating Income $ 41,897 $ 52,844 $ 125,775 $ 107,931 Corporate Net Revenue (Loss) $ 120,015 $ (26,516) $ 124,883 $ (42,747) Operating Expenses (Credits) 37,267 (1,121) 71,307 83,802 Operating Income (Loss) $ 82,748 $ (25,395) $ 53,576 $ (126,549) Total Net Revenue $ 784,811 $ 524,495 $ 2,236,043 $ 1,709,778 Operating Expenses 623,210 525,738 1,952,951 1,890,589 Operating Income (Loss) $ 161,601 $ (1,243) $ 283,092 $ (180,811) As Of September 30, 2024 December 31, 2023 Total Assets Financial Advisory $ 1,149,194 $ 1,131,657 Asset Management 1,117,161 1,232,364 Corporate 2,164,380 1,866,304 Total $ 4,430,735 $ 4,230,325

CONSOLIDATED VIEs (Tables)

CONSOLIDATED VIEs (Tables)	9 Months Ended
CONSOLIDATED VIEs (Tables)	Sep. 30, 2024
Variable Interest Entity, Measure of Activity [Abstract]
Schedule of Consolidated VIE Assets and Liabilities	The Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the condensed consolidated statements of financial condition consist of the following at September 30, 2024 and December 31, 2023. September 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 2,921 $ 4,627 Customers and other receivables 526 23,277 Investments 153,146 196,112 Other assets 493 683 Total assets $ 157,086 $ 224,699 LIABILITIES Deposits and other customer payables $ 293 $ 23,498 Other liabilities 362 353 Total liabilities $ 655 $ 23,851

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Details) - Segment	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Organization And Basis Of Presentation [Line Items]
Number of business segments	2
Lazard Group LLC
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held (as a percent)	100%	100%

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue Based on Business Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financial Advisory
Disaggregation Of Revenue [Line Items]
Net revenue	$ 370,918	$ 266,156	$ 1,236,319	$ 895,313
Asset Management
Disaggregation Of Revenue [Line Items]
Net revenue	293,878	284,855	874,841	857,212
Asset Management \| Management Fees and Other
Disaggregation Of Revenue [Line Items]
Net revenue	288,814	282,657	857,246	843,590
Asset Management \| Incentive Fees
Disaggregation Of Revenue [Line Items]
Net revenue	$ 5,064	$ 2,198	$ 17,595	$ 13,622

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Deferred revenue	$ 137,040	$ 137,040	$ 140,417
Revenue recognized that was included in the deferred revenue balance	$ 5,134	$ 15,702

RECEIVABLES AND ALLOWANCE FOR_3

RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	$ 116,333	$ 113,929
Carrying amount	555,800	644,429
Customer and Other Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer loans	$ 93,417	$ 86,412

RECEIVABLES AND ALLOWANCE FOR_4

RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 29,686	$ 27,095	$ 28,503	$ 17,737
Provision for credit losses, net of reversals	(1,472)	2,267	3,451	13,287
Charge-offs	(1,375)	(8,345)	(4,858)	(10,231)
Foreign currency translation and other adjustments	400	64	143	288
Ending Balance	$ 27,239	$ 21,081	$ 27,239	$ 21,081

INVESTMENTS - Investments and S

INVESTMENTS - Investments and Securities Sold, Not Yet Purchased (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Investments	$ 688,411	$ 701,964
Investments, at fair value	670,474	701,964
Equity method investments	17,937	0
Debt
Schedule of Investments [Line Items]
Investments	51,101	4,285
Equity
Schedule of Investments [Line Items]
Investments	57,798	54,717
Total funds
Schedule of Investments [Line Items]
Investments	561,575	642,962
Alternative investments
Schedule of Investments [Line Items]
Investments	59,558	61,680
Alternative investments \| Lazard Fund Interests
Schedule of Investments [Line Items]
Investments	23,829	27,454
Debt
Schedule of Investments [Line Items]
Investments	150,924	191,325
Debt \| Lazard Fund Interests
Schedule of Investments [Line Items]
Investments	133,925	175,449
Equity
Schedule of Investments [Line Items]
Investments	304,736	343,139
Equity \| Lazard Fund Interests
Schedule of Investments [Line Items]
Investments	237,687	284,099
Private equity
Schedule of Investments [Line Items]
Investments	$ 46,357	$ 46,818

INVESTMENTS - Schedule of Equit

INVESTMENTS - Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment gains (losses)	$ 23,050	$ (23,879)	$ 23,803	$ 14,551

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Investments, at fair value	$ 670,474	$ 701,964
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Liabilities:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Fair Value, Measurements, Recurring
Assets:
Derivative assets	$ 2,359	$ 2,789
Assets, fair value disclosure	817,917	704,753
Liabilities:
Securities sold, not yet purchased	5,041	4,809
Contingent consideration liability	4,442	6,583
Derivative liabilities	293,023	368,673
Total of liabilities measured at fair value	302,506	380,065
Fair Value, Measurements, Recurring \| Debt
Assets:
Investments, at fair value	51,101	4,285
Fair Value, Measurements, Recurring \| Equity
Assets:
Investments, at fair value	57,798	54,717
Fair Value, Measurements, Recurring \| Alternative investments
Assets:
Investments, at fair value	59,558	61,680
Fair Value, Measurements, Recurring \| Debt
Assets:
Investments, at fair value	150,924	191,325
Fair Value, Measurements, Recurring \| Equity
Assets:
Investments, at fair value	304,736	343,139
Fair Value, Measurements, Recurring \| Private equity
Assets:
Investments, at fair value	46,357	46,818
Fair Value, Measurements, Recurring \| U.S. Treasury Securities
Assets:
Deposits with banks and short-term investments	24,631
Fair Value, Measurements, Recurring \| U.S. Treasury Securities
Assets:
Cash and cash equivalents	120,453
Fair Value, Measurements, Recurring \| Level 1
Assets:
Derivative assets	0	0
Assets, fair value disclosure	703,099	598,186
Liabilities:
Securities sold, not yet purchased	5,041	4,809
Contingent consideration liability	0	0
Derivative liabilities	0	0
Total of liabilities measured at fair value	5,041	4,809
Fair Value, Measurements, Recurring \| Level 1 \| Debt
Assets:
Investments, at fair value	49,673	4,285
Fair Value, Measurements, Recurring \| Level 1 \| Equity
Assets:
Investments, at fair value	57,148	54,224
Fair Value, Measurements, Recurring \| Level 1 \| Alternative investments
Assets:
Investments, at fair value	11,078	15,676
Fair Value, Measurements, Recurring \| Level 1 \| Debt
Assets:
Investments, at fair value	135,629	180,907
Fair Value, Measurements, Recurring \| Level 1 \| Equity
Assets:
Investments, at fair value	304,487	343,094
Fair Value, Measurements, Recurring \| Level 1 \| Private equity
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 1 \| U.S. Treasury Securities
Assets:
Deposits with banks and short-term investments	24,631
Fair Value, Measurements, Recurring \| Level 1 \| U.S. Treasury Securities
Assets:
Cash and cash equivalents	120,453
Fair Value, Measurements, Recurring \| Level 2
Assets:
Derivative assets	2,359	2,789
Assets, fair value disclosure	19,275	13,202
Liabilities:
Securities sold, not yet purchased	0	0
Contingent consideration liability	0	0
Derivative liabilities	293,023	368,673
Total of liabilities measured at fair value	293,023	368,673
Fair Value, Measurements, Recurring \| Level 2 \| Debt
Assets:
Investments, at fair value	1,428	0
Fair Value, Measurements, Recurring \| Level 2 \| Equity
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Alternative investments
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Debt
Assets:
Investments, at fair value	15,292	10,413
Fair Value, Measurements, Recurring \| Level 2 \| Equity
Assets:
Investments, at fair value	196	0
Fair Value, Measurements, Recurring \| Level 2 \| Private equity
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 2 \| U.S. Treasury Securities
Assets:
Deposits with banks and short-term investments	0
Fair Value, Measurements, Recurring \| Level 2 \| U.S. Treasury Securities
Assets:
Cash and cash equivalents	0
Fair Value, Measurements, Recurring \| Level 3
Assets:
Derivative assets	0	0
Assets, fair value disclosure	926	766
Liabilities:
Securities sold, not yet purchased	0	0
Contingent consideration liability	4,442	6,583
Derivative liabilities	0	0
Total of liabilities measured at fair value	4,442	6,583
Fair Value, Measurements, Recurring \| Level 3 \| Debt
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Equity
Assets:
Investments, at fair value	650	493
Fair Value, Measurements, Recurring \| Level 3 \| Alternative investments
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Debt
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Equity
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Private equity
Assets:
Investments, at fair value	276	273
Fair Value, Measurements, Recurring \| Level 3 \| U.S. Treasury Securities
Assets:
Deposits with banks and short-term investments	0
Fair Value, Measurements, Recurring \| Level 3 \| U.S. Treasury Securities
Assets:
Cash and cash equivalents	0
Fair Value, Measurements, Recurring \| NAV
Assets:
Derivative assets	0	0
Assets, fair value disclosure	94,617	92,599
Liabilities:
Securities sold, not yet purchased	0	0
Contingent consideration liability	0	0
Derivative liabilities	0	0
Total of liabilities measured at fair value	0	0
Fair Value, Measurements, Recurring \| NAV \| Debt
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| NAV \| Equity
Assets:
Investments, at fair value	0	0
Fair Value, Measurements, Recurring \| NAV \| Alternative investments
Assets:
Investments, at fair value	48,480	46,004
Fair Value, Measurements, Recurring \| NAV \| Debt
Assets:
Investments, at fair value	3	5
Fair Value, Measurements, Recurring \| NAV \| Equity
Assets:
Investments, at fair value	53	45
Fair Value, Measurements, Recurring \| NAV \| Private equity
Assets:
Investments, at fair value	46,081	$ 46,545
Fair Value, Measurements, Recurring \| NAV \| U.S. Treasury Securities
Assets:
Deposits with banks and short-term investments	0
Fair Value, Measurements, Recurring \| NAV \| U.S. Treasury Securities
Assets:
Cash and cash equivalents	$ 0

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Assets:
Beginning Balance	$ 875	$ 910	$ 766	$ 19,418
Net Unrealized/ Realized Gains/Losses Included In Earnings	9	(95)	46	(81)
Purchases/ Issuances	0	0	109	0
Sales/ Settlements	0	0	0	(18,508)
Foreign Currency Translation Adjustments	42	(14)	5	(28)
Ending Balance	$ 926	$ 801	$ 926	$ 801
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Liabilities:
Beginning Balance	$ 4,389	$ 6,422	$ 6,583	$ 0
Net Unrealized/ Realized Gains/Losses Included In Earnings	53	81	159	194
Purchases/ Issuances	0	0	0	7,754
Sales/ Settlements	0	0	(2,300)	(1,445)
Foreign Currency Translation Adjustments	0	0	0	0
Ending Balance	$ 4,442	$ 6,503	$ 4,442	$ 6,503
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization and other acquisition-related costs	Amortization and other acquisition-related costs	Amortization and other acquisition-related costs	Amortization and other acquisition-related costs
Level 3
Liabilities:
Unrealized gains (losses) on assets	$ 9	$ (76)	$ 46	$ (62)
Net unrealized gains (losses) on liabilities	(53)	(81)	(159)	(194)
Contingent consideration liability
Liabilities:
Beginning Balance	4,389	6,422	6,583	0
Net Unrealized/ Realized Gains/Losses Included In Earnings	53	81	159	194
Purchases/ Issuances	0	0	0	7,754
Sales/ Settlements	0	0	(2,300)	(1,445)
Foreign Currency Translation Adjustments	0	0	0	0
Ending Balance	4,442	6,503	4,442	6,503
Equity
Assets:
Beginning Balance	611	642	493	646
Net Unrealized/ Realized Gains/Losses Included In Earnings	9	(95)	46	(81)
Purchases/ Issuances	0	0	109	0
Sales/ Settlements	0	0	0	0
Foreign Currency Translation Adjustments	30	(7)	2	(25)
Ending Balance	650	540	650	540
Private equity funds
Assets:
Beginning Balance	264	268	273	18,772
Net Unrealized/ Realized Gains/Losses Included In Earnings	0	0	0	0
Purchases/ Issuances	0	0	0	0
Sales/ Settlements	0	0	0	(18,508)
Foreign Currency Translation Adjustments	12	(7)	3	(3)
Ending Balance	$ 276	$ 261	$ 276	$ 261

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value of Certain Investments Based on NAV (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
NAV	$ 94,617	$ 92,599
Unfunded Commitments	5,448	5,505
Hedge funds
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
NAV	$ 47,780	$ 45,324
Hedge funds \| Monthly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	74%	74%
Hedge funds \| Quarterly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	26%	26%
Hedge funds \| Minimum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period	30 days	30 days
Hedge funds \| Maximum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period	60 days	60 days
Other
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
NAV	$ 700	$ 680
Other \| Monthly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	96%	96%
Other \| Daily
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	4%	4%
Other \| Minimum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period	30 days	30 days
Other \| Maximum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period	30 days	30 days
Debt
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
NAV	$ 3	$ 5
Redemption Notice Period	30 days	30 days
Debt \| Daily
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	100%	100%
Equity
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
NAV	$ 53	$ 45
Equity \| Monthly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	100%	34%
Equity \| Annually
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)		66%
Equity \| Minimum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period	30 days	30 days
Equity \| Maximum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period	30 days	60 days
Private equity \| Equity growth
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
NAV	$ 46,081	$ 46,545
Unfunded Commitments	$ 5,448	$ 5,505
% of NAV Not Redeemable	100%	100%
Private equity \| Consolidated but not owned
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 8,800	$ 9,605

DERIVATIVES - Fair Values of De

DERIVATIVES - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 2,629	$ 3,533
Derivative assets, amounts not netted: cash collateral	(649)	0
Derivative assets, amounts not netted, securities collateral	0	0
Derivative assets, fair value, total	1,710	2,789
Derivative assets, notional amount	186,396	288,113
Derivative liabilities, fair value	310,387	379,557
Derivative liabilities, amounts not netted: cash collateral	(2,126)	(243)
Derivative liabilities, amounts not netted: securities collateral	0	0
Derivative liabilities, fair value, total	290,897	368,430
Derivative liabilities, notional	745,204	640,734
Forward foreign currency exchange rate contracts
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	2,526	3,400
Derivative assets, fair value, counterparty and cash collateral netting	(173)	(604)
Derivative assets, notional amount	185,354	283,635
Derivative liabilities, fair value	4,499	1,847
Derivative liabilities, fair value, counterparty and cash collateral netting	(172)	(603)
Derivative liabilities, notional	360,223	170,704
Total return swaps and other
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	103	133
Derivative assets, fair value, counterparty and cash collateral netting	(97)	(140)
Derivative assets, notional amount	1,042	4,478
Derivative liabilities, fair value	20,920	12,290
Derivative liabilities, fair value, counterparty and cash collateral netting	(17,192)	(10,281)
Derivative liabilities, notional	130,344	117,139
LFI and other similar deferred compensation arrangements
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative assets, notional amount	0	0
Derivative liabilities, fair value	284,968	365,420
Derivative liabilities, notional	254,637	352,891
Net derivatives in "other assets" and "other liabilities"
Derivatives, Fair Value [Line Items]
Derivative assets, net derivatives	2,359	2,789
Derivative liabilities, net derivatives	$ 293,023	$ 368,673

DERIVATIVES - Net Gains (Losses

DERIVATIVES - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total	$ (30,735)	$ 16,137	$ (41,625)	$ (22,006)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Forward foreign currency exchange rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total return swaps and other	$ (5,860)	$ (984)	$ (2,635)	$ (1,684)
LFI and other similar deferred compensation arrangements
Derivative Instruments, Gain (Loss) [Line Items]
Total return swaps and other	(16,732)	10,598	(24,904)	(15,530)
LGAC Warrants
Derivative Instruments, Gain (Loss) [Line Items]
Total return swaps and other	0	0	0	115
Total return swaps and other
Derivative Instruments, Gain (Loss) [Line Items]
Total return swaps and other	$ (8,143)	$ 6,523	$ (14,086)	$ (4,907)

PROPERTY, NET - Components of P

PROPERTY, NET - Components of Property (Details) - USD ($) $ in Thousands		9 Months Ended
	Jul. 22, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 491,351		$ 647,063
Less - Accumulated depreciation and amortization		332,911		414,547
Property, net		158,440		232,516
Proceeds from sale of property		194,283	$ 0
Gain from sale of property		$ 114,271	$ 0
Office Building
Property, Plant and Equipment [Line Items]
Property, net	$ 72,594			72,921
Proceeds from sale of property	194,283
Total lease payments to be received				6,550
Gain from sale of property	$ 114,271
Buildings
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		33 years
Property, plant and equipment, gross		$ 12,345		170,830
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 217,339		233,732
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		20 years
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 168,063		162,075
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		3 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		10 years
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 68,157		68,638
Computer software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		3 years
Computer software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years		5 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 25,447		$ 11,788

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Components of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 373,755	$ 373,574	$ 373,009	$ 356,369
Other intangible assets (net of accumulated amortization)	0	30
Goodwill and other intangible assets, total	$ 373,755	$ 373,604

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Beginning Balance	$ 373,574	$ 356,369
Acquisition of business	0	16,729
Foreign currency translation adjustments	181	(89)
Ending Balance	373,755	373,009
Financial Advisory
Goodwill [Roll Forward]
Beginning Balance	292,304	291,828
Acquisition of business	0	0
Foreign currency translation adjustments	181	(89)
Ending Balance	292,485	291,739
Asset Management
Goodwill [Roll Forward]
Beginning Balance	81,270	64,541
Acquisition of business	0	16,729
Foreign currency translation adjustments	0	0
Ending Balance	$ 81,270	$ 81,270

SENIOR DEBT - Senior Debt (Deta

SENIOR DEBT - Senior Debt (Details) - USD ($)	1 Months Ended	9 Months Ended
SENIOR DEBT - Senior Debt (Details) - USD ($)	Mar. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal		$ 1,864,347,000	$ 1,700,000,000
Unamortized Debt Costs		11,504,000	9,800,000
Carrying Value		1,852,843,000	1,690,200,000
Lazard Group 2025 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount		$ 400,000,000
Maturity Date		Feb. 13, 2025
Annual Interest Rate		3.75%
Effective Interest Rate		3.77%
Principal		$ 164,347,000	400,000,000
Unamortized Debt Costs		72,000	531,000
Carrying Value		164,275,000	399,469,000
Aggregate principal amount of debt purchased	$ 235,653,000
Lazard Group 2027 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount		$ 300,000,000
Maturity Date		Mar. 01, 2027
Annual Interest Rate		3.625%
Effective Interest Rate		3.76%
Principal		$ 300,000,000	300,000,000
Unamortized Debt Costs		943,000	1,235,000
Carrying Value		299,057,000	298,765,000
Lazard Group 2028 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount		$ 500,000,000
Maturity Date		Sep. 19, 2028
Annual Interest Rate		4.50%
Effective Interest Rate		4.67%
Principal		$ 500,000,000	500,000,000
Unamortized Debt Costs		3,373,000	4,012,000
Carrying Value		496,627,000	495,988,000
Lazard Group 2029 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount		$ 500,000,000
Maturity Date		Mar. 11, 2029
Annual Interest Rate		4.375%
Effective Interest Rate		4.53%
Principal		$ 500,000,000	500,000,000
Unamortized Debt Costs		3,442,000	4,022,000
Carrying Value		496,558,000	495,978,000
Lazard Group 2031 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount	$ 400,000,000	$ 400,000,000
Maturity Date		Mar. 15, 2031
Annual Interest Rate	6%	6%
Effective Interest Rate		6.14%
Principal		$ 400,000,000	0
Unamortized Debt Costs		3,674,000	0
Carrying Value		$ 396,326,000	$ 0

SENIOR DEBT - Additional Inform

SENIOR DEBT - Additional Information (Details) - USD ($)	Jun. 06, 2028	Jun. 06, 2023	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Fair value of senior debt			$ 1,876,000,000	$ 1,652,000,000
Unused Lines of Credit
Debt Instrument [Line Items]
Unused lines of credit			$ 209,500,000
Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit, initiation date		Jun. 06, 2023
Duration of senior revolving credit facility, in years		5 years
Senior revolving credit facility		$ 200,000,000
Second Amended and Restated Credit Agreement \| Forecast \| Subsequent Event
Debt Instrument [Line Items]
Line of credit, expiration date	Jun. 06, 2028

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Office lease term	15 years
Increase in operating lease right-of-use assets	$ 76,539
Increase in operating lease liabilities	$ 71,977
Lease not yet commenced, term		10 years
Undiscounted future lease payments		$ 110

MEMBERS_ EQUITY AND REDEEMABL_3

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 24, 2024	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Distributions to members and noncontrolling interests, net			$ 45,364		$ 169,296	$ 124,054
Aggregate value of all shares repurchased			3,112	$ 2,954	43,928	102,051
Share repurchase remaining authorization			356,166		356,166
Share repurchase authorization expiration date	Dec. 31, 2026
Share Repurchase Expiring December 31, 2024
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Share repurchase remaining authorization			156,166		156,166
Share Repurchase Expiring December 31, 2026
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Share repurchase remaining authorization			200,000		200,000
Lazard Ltd Subsidiaries \| Management \| Common Stock
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Number of shares distributed to Inc subsidiaries (in shares)		1,521,620,000
Executive Officers \| Common Stock
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Aggregate value of all shares repurchased					14,300	11,100
Members' Equity
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Distributions to members and noncontrolling interests, net			45,100		167,179	120,184
Aggregate value of all shares repurchased			$ 3,112	$ 2,954	$ 43,928	$ 102,051

MEMBERS_ EQUITY AND REDEEMABL_4

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - Schedule of Share Repurchase Authorized by Board of Directors (Details) - USD ($)		9 Months Ended
	Jul. 24, 2024	Sep. 30, 2024
Equity, Class of Treasury Stock [Line Items]
Expiration	Dec. 31, 2026
February 2022
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization		$ 300,000,000
Expiration		Dec. 31, 2024
July 2022
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization		$ 500,000,000
Expiration		Dec. 31, 2024
July 2024
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization		$ 200,000,000
Expiration		Dec. 31, 2026

MEMBERS_ EQUITY AND REDEEMABL_5

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - Schedule of Shares Repurchased Under the Share Repurchase Program (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Equity [Abstract]
Number of shares purchased (in shares)	1,123,413	2,782,662
Average price per share (in usd per share)	$ 39.10	$ 36.67

MEMBERS_ EQUITY AND REDEEMABL_6

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2024		Sep. 30, 2023		Sep. 30, 2024		Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	$ 183,482	[1]	$ 78,017	[2]	$ 182,465	[3]	$ 466,513	[4]
Other comprehensive income (loss) before reclassifications	32,457		(14,658)		13,227		(3,420)
Adjustments for items reclassified to earnings, net of tax	1,888		4,052		4,775		6,416
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	34,345		(10,606)		18,002		2,996
Balance at the end	355,755	[1],[3]	100,400	[2],[4]	355,755	[1],[3]	100,400	[2],[4]
Currency Translation Adjustments
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(127,803)		(123,450)		(106,969)		(140,102)
Other comprehensive income (loss) before reclassifications	41,490		(19,712)		20,656		(3,088)
Adjustments for items reclassified to earnings, net of tax	0		2,472		0		2,500
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	41,490		(17,240)		20,656		(588)
Balance at the end	(86,313)		(140,690)		(86,313)		(140,690)
Employee Benefit Plans
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(162,969)		(143,533)		(167,460)		(140,483)
Other comprehensive income (loss) before reclassifications	(9,033)		5,054		(7,429)		(332)
Adjustments for items reclassified to earnings, net of tax	1,888		1,580		4,775		3,916
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(7,145)		6,634		(2,654)		3,584
Balance at the end	(170,114)		(136,899)		(170,114)		(136,899)
Total AOCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(290,772)		(266,983)		(274,429)		(280,585)
Balance at the end	(256,427)		(277,589)		(256,427)		(277,589)
Amount Attributable to Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	1		3		2		2
Other comprehensive income (loss) before reclassifications	33		(2)		32		(1)
Adjustments for items reclassified to earnings, net of tax	0		0		0		0
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	33		(2)		32		(1)
Balance at the end	34		1		34		1
Total Lazard Group AOCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(290,773)	[1]	(266,986)	[2]	(274,431)	[3]	(280,587)	[4]
Other comprehensive income (loss) before reclassifications	32,424		(14,656)		13,195		(3,419)
Adjustments for items reclassified to earnings, net of tax	1,888		4,052		4,775		6,416
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	34,312		(10,604)		17,970		2,997
Balance at the end	$ (256,461)	[1],[3]	$ (277,590)	[2],[4]	$ (256,461)	[1],[3]	$ (277,590)	[2],[4]

[1] () At July 1, 2024 and September 30, 2024, in addition to profit participation interests, there were two managing member interests. () At July 1, 2023 and September 30, 2023, in addition to profit participation interests, there were two managing member interests. () At January 1, 2024 and September 30, 2024, in addition to profit participation interests, there were two managing member interests. () At January 1, 2023 and September 30, 2023, in addition to profit participation interests, there were two managing member interests.

MEMBERS_ EQUITY AND REDEEMABL_7

MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - Adjustments for Items Reclassified From AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications, net of tax	$ 1,888	$ 4,052	$ 4,775	$ 6,416
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications, net of tax	0	2,472	0	2,500
Employee Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization relating to employee benefit plans	2,433	1,954	6,230	5,051
Less - related income taxes	545	374	1,455	1,135
Total reclassifications, net of tax	$ 1,888	$ 1,580	$ 4,775	$ 3,916

INCENTIVE PLANS - Additional In

INCENTIVE PLANS - Additional Information (Details) $ / shares in Units, $ in Thousands		9 Months Ended
	May 09, 2024 shares	Sep. 30, 2024 USD ($) d tranche $ / shares shares	Sep. 30, 2023 $ / shares	Dec. 31, 2023 USD ($)	Feb. 01, 2021	Jan. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash retention awards granted and paid \| $		$ 94,000
Service period		3 years
Prepaid compensation asset \| $		$ 71,576		$ 115,972
Cash retention awards, amortization expense \| $		$ 47,000
LFI and Similar Deferred Compensation Arrangements
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense (in years)		1 year 3 months 18 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis		one-for-one
Number of dividend participation rights issued (in shares)		608,673
Units granted (in shares)		8,921,474
Weighted average grant date fair value, granted (in USD per share) \| $ / shares		$ 38.75	$ 36.56
Unrecognized compensation expense \| $		$ 245,018
Unrecognized compensation expense (in years)		1 year 9 months 18 days
RSUs \| Vesting One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		33.33%
RSUs \| Vesting Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		66.67%
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Conversion ratio		1
Vesting period		3 years
Units granted (in shares)		0
Weighted average grant date fair value, granted (in USD per share) \| $ / shares		$ 0
Unrecognized compensation expense \| $		$ 73
Unrecognized compensation expense (in years)		1 month 6 days
PRSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier		2.4
PRSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier		0
Profits Interest Participation Rights Excluding Stock Price PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
P-PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Units granted (in shares)		0
Weighted average grant date fair value, granted (in USD per share) \| $ / shares		$ 0
Target number of shares of common stock		1
Minimum Value Condition, period		5 years
P-PIPRs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier					2.4	2
P-PIPRs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier					0	0
SP-PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		0
Weighted average grant date fair value, granted (in USD per share) \| $ / shares		$ 0	15.06
Award vesting, number of tranches \| tranche		3
Common stock price, number of consecutive days \| d		30
SP-PIPRs \| Scenario, Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period, fair value \| $		$ 33,900
SP-PIPRs \| Vesting One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		20%
Common stock price, appreciation period		3 years
Common stock price, appreciation (as a percent)		25%
SP-PIPRs \| Vesting Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		40%
Common stock price, appreciation period		5 years
Common stock price, appreciation (as a percent)		50%
SP-PIPRs \| Vesting Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		40%
Common stock price, appreciation period		7 years
Common stock price, appreciation (as a percent)		100%
Ordinary PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		1,368,964
Weighted average grant date fair value, granted (in USD per share) \| $ / shares		$ 38.26	$ 35.94
PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis		one-for-one
Unrecognized compensation expense \| $		$ 58,979
Unrecognized compensation expense (in years)		3 years
Prepaid Compensation Asset Related to Cash Retention Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Prepaid compensation asset \| $		$ 44,000
Common Stock \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery (in shares)		1,619,201
Delivery of common stock associated with stock awards (in shares)		2,537,447
Common Stock \| PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery (in shares)		29,690
Delivery of common stock associated with stock awards (in shares)		33,479
2018 Equity Incentive Plan \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares authorized (in shares)	20,000,000
Common stock shares authorized (in shares)		70,000,000

INCENTIVE PLANS - Schedule of I

INCENTIVE PLANS - Schedule of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based incentive awards	$ 75,527	$ 58,286	$ 234,179	$ 208,758
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based incentive awards	57,554	46,902	185,200	158,761
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based incentive awards	318	569	1,037	1,920
PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based incentive awards	$ 17,655	$ 10,815	$ 47,942	$ 48,077

INCENTIVE PLANS - Schedule of A

INCENTIVE PLANS - Schedule of Activity Relating to Restricted Stock Awards, PRSUs and DSUs (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
RSUs
Units
Units beginning balance (in shares)	12,633,027
Units granted (in shares)	8,921,474
Units forfeited (in shares)	(882,108)
Units settled (in shares)	(4,156,648)
Units ending balance (in shares)	16,515,745
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in USD per share)	$ 36.16
Weighted average grant date fair value, granted (in USD per share)	38.75	$ 36.56
Weighted average grant date fair value, forfeited (in USD per share)	36.66
Weighted average grant date fair value, settled (in USD per share)	38.54
Weighted average grant date fair value, ending balance (in USD per share)	$ 36.93
Number of dividend participation rights issued (in shares)	608,673
PRSUs
Units
Units beginning balance (in shares)	125,465
Units granted (in shares)	0
Units forfeited (in shares)	0
Units settled (in shares)	(63,169)
Units ending balance (in shares)	62,296
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in USD per share)	$ 41.07
Weighted average grant date fair value, granted (in USD per share)	0
Weighted average grant date fair value, forfeited (in USD per share)	0
Weighted average grant date fair value, settled (in USD per share)	46.63
Weighted average grant date fair value, ending balance (in USD per share)	$ 35.44

INCENTIVE PLANS - Schedule of_2

INCENTIVE PLANS - Schedule of Activity Relating to PIPRs (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Ordinary PIPRs
Units
Units beginning balance (in shares)	2,640,769
Units granted (in shares)	1,368,964
Units forfeited (in shares)	(61,878)
Units settled (in shares)	(601,433)
Units ending balance (in shares)	3,346,422
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in USD per share)	$ 36.19
Weighted average grant date fair value, granted (in USD per share)	38.26	$ 35.94
Weighted average grant date fair value, forfeited (in USD per share)	35.85
Weighted average grant date fair value, settled (in USD per share)	43.23
Weighted average grant date fair value, ending balance (in USD per share)	$ 35.78
P-PIPRs
Units
Units beginning balance (in shares)	1,958,829
Units granted (in shares)	0
Units forfeited (in shares)	0
Units settled (in shares)	(995,169)
Units ending balance (in shares)	963,660
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in USD per share)	$ 41.12
Weighted average grant date fair value, granted (in USD per share)	0
Weighted average grant date fair value, forfeited (in USD per share)	0
Weighted average grant date fair value, settled (in USD per share)	46.63
Weighted average grant date fair value, ending balance (in USD per share)	$ 35.44
SP-PIPRs
Units
Units beginning balance (in shares)	2,250,000
Units granted (in shares)	0
Units forfeited (in shares)	0
Units settled (in shares)	0
Units ending balance (in shares)	2,250,000
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in USD per share)	$ 15.06
Weighted average grant date fair value, granted (in USD per share)	0	$ 15.06
Weighted average grant date fair value, forfeited (in USD per share)	0
Weighted average grant date fair value, settled (in USD per share)	0
Weighted average grant date fair value, ending balance (in USD per share)	$ 15.06

INCENTIVE PLANS - Schedule of L

INCENTIVE PLANS - Schedule of LFI and Other Similar Deferred Compensation Arrangements (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Beginning balance, prepaid compensation asset	$ 115,972
Prepaid compensation asset, granted	40,227
Prepaid compensation asset, settled	0
Prepaid compensation asset, amortization and the impact of forfeitures	(84,550)
Prepaid compensation asset, change in fair value of underlying investments	0
Prepaid compensation asset, other	(73)
Ending balance, prepaid compensation asset	71,576
LFI and other similar deferred compensation arrangements
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Beginning balance, compensation liability	365,420
Compensation liability, granted	40,227
Compensation liability, settled	(142,519)
Compensation liability, amortization and the impact of forfeitures	(3,448)
Compensation liability, change in fair value of underlying investments	24,904
Compensation liability, other	384
Ending balance, compensation liability	$ 284,968

INCENTIVE PLANS - Schedule of_3

INCENTIVE PLANS - Schedule of Impact of LFI and Other Similar Deferred Compensation Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Amortization and the impact of forfeitures	$ 22,997	$ 41,368	$ 81,102	$ 133,454
Change in the fair value of underlying investments	16,732	(10,598)	24,904	15,530
Total	$ 39,729	$ 30,770	$ 106,006	$ 148,984

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Cost (Credit) (Details) - Pension Plans - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 170	$ 74	$ 498	$ 256
Interest cost	5,345	5,322	15,774	15,746
Expected return on plan assets	(6,721)	(6,068)	(19,797)	(17,916)
Amortization of:
Prior service cost	138	28	402	81
Net actuarial loss	2,295	1,926	5,828	4,970
Settlement loss	0	791	0	2,333
Net periodic benefit cost	$ 1,227	$ 2,073	$ 2,705	$ 5,470

COST-SAVING INITIATIVES - Expen

COST-SAVING INITIATIVES - Expenses Associated With The Cost Savings Initiatives (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cost Saving initiatives [Line Items]
Restructuring charges	$ 15,533	$ 48,060	$ 179,718
Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges	8,433	46,610	162,521
Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges	571		7,956
Foreign exchange related losses associated with closing of certain offices (included in "revenue other")
Cost Saving initiatives [Line Items]
Restructuring charges	4,990		4,990
Other
Cost Saving initiatives [Line Items]
Restructuring charges	1,539	1,450	4,251
Operating Segments \| Financial Advisory
Cost Saving initiatives [Line Items]
Restructuring charges	3,503	32,812	90,896
Operating Segments \| Financial Advisory \| Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges	(529)	32,773	86,254
Operating Segments \| Financial Advisory \| Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges	56		144
Operating Segments \| Financial Advisory \| Foreign exchange related losses associated with closing of certain offices (included in "revenue other")
Cost Saving initiatives [Line Items]
Restructuring charges	2,507		2,507
Operating Segments \| Financial Advisory \| Other
Cost Saving initiatives [Line Items]
Restructuring charges	1,469	39	1,991
Operating Segments \| Asset Management
Cost Saving initiatives [Line Items]
Restructuring charges	4,733	11,559	53,078
Operating Segments \| Asset Management \| Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges	4,190	11,545	44,958
Operating Segments \| Asset Management \| Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges	515		7,812
Operating Segments \| Asset Management \| Foreign exchange related losses associated with closing of certain offices (included in "revenue other")
Cost Saving initiatives [Line Items]
Restructuring charges	0		0
Operating Segments \| Asset Management \| Other
Cost Saving initiatives [Line Items]
Restructuring charges	28	14	308
Corporate
Cost Saving initiatives [Line Items]
Restructuring charges	7,297	3,689	35,744
Corporate \| Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges	4,772	2,292	31,309
Corporate \| Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges	0		0
Corporate \| Foreign exchange related losses associated with closing of certain offices (included in "revenue other")
Cost Saving initiatives [Line Items]
Restructuring charges	2,483		2,483
Corporate \| Other
Cost Saving initiatives [Line Items]
Restructuring charges	$ 42	$ 1,397	$ 1,952

COST-SAVING INITIATIVES - Activ

COST-SAVING INITIATIVES - Activity Related To The Obligations Pursuant To The Cost Savings Initiatives (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Balance at beginning of period		$ 52,298
Total expenses	$ 15,533	48,060	$ 179,718
Noncash expenses		11,598
Payments and settlements		79,850
Balance at end of period		8,910
Accrued Compensation and Benefits
Restructuring Reserve [Roll Forward]
Balance at beginning of period		51,346
Total expenses		46,610
Noncash expenses		9,249
Payments and settlements		79,797
Balance at end of period		8,910
Other
Restructuring Reserve [Roll Forward]
Balance at beginning of period		952
Total expenses		1,450
Noncash expenses		2,349
Payments and settlements		53
Balance at end of period		$ 0

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ 39,499	$ (29,374)	$ 70,645	$ 67,405
Effective income tax rates (as a percent)	24.40%	2,363.20%	25%	(37.30%)
U.S. federal statutory income tax rate (as a percent)			21%

RELATED PARTIES - Additional In

RELATED PARTIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Contribution from members				$ 1,606
Fees receivable	$ 529,322			529,322		$ 560,552
Subsidiary
Related Party Transaction [Line Items]
Contribution from members		$ 1,606
Investment Advisor \| Sponsored Funds
Related Party Transaction [Line Items]
Revenue	140,025		$ 135,899	407,875	$ 405,269
Fees receivable	$ 52,589			$ 52,589		$ 67,598

REGULATORY AUTHORITIES - Additi

REGULATORY AUTHORITIES - Additional Information (Detail) $ in Thousands	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
LFNY
Regulatory Requirements [Line Items]
Minimum net capital requirement as defined under exchange act	$ 5
Regulatory capital	126,504
Regulatory capital in excess of minimum requirement	$ 119,918
Aggregate indebtedness to net capital ratio	0.78
U.K. Subsidiaries
Regulatory Requirements [Line Items]
Regulatory capital	$ 156,894
Regulatory capital in excess of minimum requirement	79,560
CFLF
Regulatory Requirements [Line Items]
Regulatory capital		$ 160,273
Regulatory capital in excess of minimum requirement		68,870
Combined European Regulated Group
Regulatory Requirements [Line Items]
Regulatory capital		182,588
Regulatory capital in excess of minimum requirement		$ 83,794
Other U.S. and Non-U.S. Subsidiaries
Regulatory Requirements [Line Items]
Regulatory capital	108,953
Regulatory capital in excess of minimum requirement	$ 84,860

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net Revenue	$ 784,811	$ 524,495	$ 2,236,043	$ 1,709,778
Operating Expenses (Credits)	623,210	525,738	1,952,951	1,890,589
Operating Income (Loss)	161,601	(1,243)	283,092	(180,811)
Total Assets	4,430,735		4,430,735		$ 4,230,325
Operating Segments \| Financial Advisory
Segment Reporting Information [Line Items]
Net Revenue	370,918	266,156	1,236,319	895,313
Operating Expenses (Credits)	333,962	294,848	1,132,578	1,057,506
Operating Income (Loss)	36,956	(28,692)	103,741	(162,193)
Total Assets	1,149,194		1,149,194		1,131,657
Operating Segments \| Asset Management
Segment Reporting Information [Line Items]
Net Revenue	293,878	284,855	874,841	857,212
Operating Expenses (Credits)	251,981	232,011	749,066	749,281
Operating Income (Loss)	41,897	52,844	125,775	107,931
Total Assets	1,117,161		1,117,161		1,232,364
Corporate
Segment Reporting Information [Line Items]
Net Revenue	120,015	(26,516)	124,883	(42,747)
Operating Expenses (Credits)	37,267	(1,121)	71,307	83,802
Operating Income (Loss)	82,748	$ (25,395)	53,576	$ (126,549)
Total Assets	$ 2,164,380		$ 2,164,380		$ 1,866,304

CONSOLIDATED VIEs - Additional

CONSOLIDATED VIEs - Additional Information (Details) - USD ($) $ in Thousands		9 Months Ended
	Feb. 23, 2023	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments			$ 688,411	$ 701,964
Investment, Type [Extensible Enumeration]			Lazard Fund Interests	Lazard Fund Interests
Redeemable noncontrolling interests			$ 84,467	$ 87,675
LGAC
Variable Interest Entity [Line Items]
Redeemable noncontrolling interests					$ 583,471
Assets held-in-trust, noncurrent	$ 585,891
LGAC \| Non-cash Deferred Underwriting Fees
Variable Interest Entity [Line Items]
Deferred costs		$ 20,125
LGAC \| Other Revenue
Variable Interest Entity [Line Items]
Losses on dissolution		$ 17,929
Lazard Group LLC
Variable Interest Entity [Line Items]
Investments			$ 71,964	$ 113,174

CONSOLIDATED VIEs - Schedule of

CONSOLIDATED VIEs - Schedule of Consolidated VIE Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 1,160,545	$ 966,168
Customers and other receivables	152,705	201,767
Investments	688,411	701,964
Other assets	395,327	398,983
Total Assets	4,430,735	4,230,325
LIABILITIES
Deposits and other customer payables	346,834	443,262
Other liabilities	608,589	538,363
Total Liabilities	3,990,513	3,960,185
Consolidated VIEs
ASSETS
Cash and cash equivalents	2,921	4,627
Customers and other receivables	526	23,277
Investments	153,146	196,112
Other assets	493	683
Total Assets	157,086	224,699
LIABILITIES
Deposits and other customer payables	293	23,498
Other liabilities	362	353
Total Liabilities	$ 655	$ 23,851