Lazard 10-Q 1 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 21, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	LZD
Entity Registrant Name	Lazard Group LLC
Entity Central Index Key	1,326,141
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0
Managing Member Interests [Member]
Document Information [Line Items]
Membership Interests, Shares Outstanding		2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 883,737	$ 1,131,440
Deposits with banks and short-term investments	572,496	419,668
Cash deposited with clearing organizations and other segregated cash	33,687	29,030
Receivables (net of allowance for doubtful accounts of $29,662 and $16,386 at March 31, 2017 and December 31, 2016, respectively):
Fees	439,836	564,291
Customers and other	87,778	73,991
Lazard Ltd subsidiaries	14,827	28,702
Total receivables, net	542,441	666,984
Investments	382,074	459,422
Property (net of accumulated amortization and depreciation of $296,274 and $285,997 at March 31, 2017 and December 31, 2016, respectively)	206,120	208,997
Goodwill and other intangible assets (net of accumulated amortization of $60,051 and $59,618 at March 31, 2017 and December 31, 2016, respectively)	365,056	358,982
Deferred tax assets	63,994	59,767
Other assets	245,550	181,694
Total Assets	3,295,155	3,515,984
Liabilities:
Deposits and other customer payables	625,798	472,283
Accrued compensation and benefits	288,575	539,944
Senior debt	1,189,043	1,188,600
Payable to Lazard Ltd subsidiaries	65,370	60,898
Deferred tax liabilities	8,254	8,625
Capital lease obligations	6,913	7,205
Other liabilities	512,223	502,289
Total Liabilities	2,696,176	2,779,844
Commitments and contingencies
MEMBERS’ EQUITY
Members' equity (net of 5,948,475 and 6,697,790 shares of Lazard Ltd Class A common stock, at a cost of $231,595 and $244,518 at March 31, 2017 and December 31, 2016, respectively)	796,324	949,669
Accumulated other comprehensive loss, net of tax	(256,885)	(270,775)
Total Lazard Group LLC Members' Equity	539,439	678,894
Noncontrolling interests	59,540	57,246
Total Members’ Equity	598,979	736,140
Total Liabilities and Members’ Equity	$ 3,295,155	$ 3,515,984

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 29,662	$ 16,386
Property, accumulated amortization and depreciation	296,274	285,997
Other intangible assets, accumulated amortization	$ 60,051	$ 59,618
Lazard Ltd common stock, shares	5,948,475	6,697,790
Lazard Ltd common stock, cost	$ 231,595	$ 244,518

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
REVENUE
Investment banking and other advisory fees	$ 334,916	$ 265,143
Asset management fees	272,924	233,731
Interest income	1,739	1,548
Other	27,722	9,882
Total revenue	637,301	510,304
Interest expense	14,824	12,700
Net revenue	622,477	497,604
OPERATING EXPENSES
Compensation and benefits	361,316	297,198
Occupancy and equipment	27,459	27,002
Marketing and business development	19,487	19,688
Technology and information services	23,979	22,931
Professional services	11,086	9,532
Fund administration and outsourced services	15,911	13,435
Amortization and other acquisition-related costs	1,148	644
Other	9,079	9,127
Total operating expenses	469,465	399,557
OPERATING INCOME	153,012	98,047
Provision for income taxes	21,995	11,735
NET INCOME	131,017	86,312
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	2,877	3,900
NET INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	$ 128,140	$ 82,412

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME	$ 131,017	$ 86,312
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments (net of tax expense of $9 for the three months ended March 31, 2016)	13,299	7,501
Employee benefit plans:
Actuarial loss (net of tax benefit of $261 and $70 for the three months ended March 31, 2017 and 2016, respectively)	(495)	(141)
Adjustment for items reclassified to earnings (net of tax expense of $276 and $393 for the three months ended March 31, 2017 and 2016, respectively)	1,086	1,186
OTHER COMPREHENSIVE INCOME, NET OF TAX	13,890	8,546
COMPREHENSIVE INCOME	144,907	94,858
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	2,877	3,900
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	$ 142,030	$ 90,958

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Currency translation adjustments, tax expense		$ 9
Tax benefit on actuarial loss, employee benefit plans	$ 261	70
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 276	$ 393

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 131,017	$ 86,312
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property	7,660	8,389
Amortization of deferred expenses and share-based incentive compensation	92,707	117,108
Amortization and other acquisition-related costs	1,148	644
Deferred tax provision (benefit)	307	(3,819)
(Increase) decrease in operating assets:
Deposits with banks and short-term investments	(146,251)	19,498
Cash deposited with clearing organizations and other segregated cash	(4,533)	1,474
Receivables-net	128,918	73,473
Investments	66,979	86,712
Other assets	(72,607)	(46,174)
Increase (decrease) in operating liabilities:
Deposits and other payables	146,272	(42,137)
Accrued compensation and benefits and other liabilities	(237,147)	(356,297)
Net cash (used in) provided by operating activities	114,470	(54,817)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(3,847)	(5,454)
Disposals of property	135	104
Net cash used in investing activities	(3,712)	(5,350)
Proceeds from:
Contributions from noncontrolling interests		93
Excess tax benefits from share-based incentive compensation		2,720
Payments for:
Capital lease obligations	(396)	(417)
Distributions to noncontrolling interests	(991)	(424)
Purchase of Lazard Ltd Class A common stock	(106,048)	(83,140)
Distributions to members	(193,460)	(153,090)
Settlement of vested share-based incentive compensation	(61,478)	(50,455)
Other financing activities	(7,957)	(1,614)
Net cash used in financing activities	(370,330)	(286,327)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	11,869	12,187
NET DECREASE IN CASH AND CASH EQUIVALENTS	(247,703)	(334,307)
CASH AND CASH EQUIVALENTS—January 1	1,131,440	1,025,844
CASH AND CASH EQUIVALENTS—March 31	$ 883,737	$ 691,537

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Changes in Members' Equity - USD ($) $ in Thousands		Total	Members' Equity [Member]	Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]	Total Lazard Group LLC Members' Equity [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2015	[1]	$ 702,900	$ 839,517	$ (189,758)	$ 649,759	$ 53,141
Comprehensive income (loss):
Net income		86,312	82,412		82,412	3,900
Other comprehensive income - net of tax		8,546		8,546	8,546
Amortization of share-based incentive compensation		94,638	94,638		94,638
Distributions to members and noncontrolling interests, net		(153,421)	(153,090)		(153,090)	(331)
Purchase of Lazard Ltd Class A common stock		(83,140)	(83,140)		(83,140)
Delivery of Lazard Ltd Class A common stock in connection with share-based incentive compensation and related tax benefit		(50,033)	(50,033)		(50,033)
Business acquisitions and related equity transactions:
Other		(1,614)	(1,614)		(1,614)
Balance at Mar. 31, 2016		604,188	728,690	(181,212)	547,478	56,710
Balance at Dec. 31, 2016		736,140	949,669	(270,775)	678,894	57,246
Adjustment for the cumulative effect on prior years from the adoption of new accounting guidance related to share-based incentive compensation at Dec. 31, 2016		4,945	4,945		4,945
Balance, as adjusted at Dec. 31, 2016		741,085	954,614	(270,775)	683,839	57,246
Comprehensive income (loss):
Net income		131,017	128,140		128,140	2,877
Other comprehensive income - net of tax		13,890		13,890	13,890
Amortization of share-based incentive compensation		77,527	77,527		77,527
Distributions to members and noncontrolling interests, net		(194,451)	(193,460)		(193,460)	(991)
Purchase of Lazard Ltd Class A common stock		(106,048)	(106,048)		(106,048)
Delivery of Lazard Ltd Class A common stock in connection with share-based incentive compensation and related tax benefit		(61,478)	(61,478)		(61,478)
Business acquisitions and related equity transactions:
Lazard Ltd Class A common stock issuable (including related amortization)		93	93		93
Other		(2,656)	(3,064)		(3,064)	408
Balance at Mar. 31, 2017		$ 598,979	$ 796,324	$ (256,885)	$ 539,439	$ 59,540
[1]	At both January 1, 2016 and March 31, 2016, in addition to profit participation interests, there were two managing member interests.

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Changes in Members' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2017
Tax benefit related to delivery of Class A Common Stock in connection with share-based incentive compensation	$ 422
Managing Member Interests [Member]
Membership Interests, shares issued	2	2

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	1. 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” or the “Company”). Lazard Group is a Delaware limited liability company and is governed by an Amended and Restated Operating Agreement dated as of October 26, 2015, as amended (the “Operating Agreement”). Lazard Ltd, a Bermuda holding company, and its subsidiaries (collectively referred to as “Lazard Ltd”), including its indirect investment in Lazard Group, is one of the world’s preeminent financial advisory and asset management firms and has long specialized 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 and individuals. Lazard Ltd indirectly held 100% of all outstanding Lazard Group common membership interests as of March 31, 2017 and December 31, 2016. Lazard Ltd, 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 mergers and acquisitions (“M&A”) and other strategic matters, restructurings, capital structure, capital raising, corporate preparedness and various other financial matters, and • Asset Management, which offers a broad range of global investment solutions and investment 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, deferred tax assets, outstanding indebtedness, certain contingent obligations, and assets and liabilities associated with Lazard Group’s Paris-based subsidiary Lazard Frères Banque SA (“LFB”). Basis of Presentation The accompanying condensed consolidated financial statements of Lazard Group 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, 2016. The accompanying December 31, 2016 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 which 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 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 assumed 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 consolidated results of operations for the three month period ended March 31, 2017 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, 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. 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 (ii) elects the option to measure at fair value. Intercompany transactions and balances have been eliminated.

Recent Accounting Developments

Recent Accounting Developments	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Developments	2. RECENT ACCOUNTING DEVELOPMENTS Compensation—Stock Compensation: Improvements to Employee Share-Based Payment Accounting —In March 2016, the Financial Accounting Standards Board (the “FASB”) issued new guidance regarding share-based incentive compensation. The new guidance includes several amendments which affect various aspects of the accounting for share-based incentive compensation transactions, including the income tax consequences, estimation of forfeitures, effect on earnings per share, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective for annual and interim periods beginning after December 15, 2016. The Company adopted this new guidance on January 1, 2017. The new guidance has since January 1, 2017 affected, and the Company expects that in future periods the new guidance will affect, the provision for income taxes for the delivery of stock under share-based incentive compensation arrangements, as well as the effective tax rate in the relevant periods, which could be material to the condensed consolidated statements of operations and the classification of cash flows in the relevant periods. The inclusion of excess tax benefits as an operating activity within the statement of cash flows was adopted on a prospective basis, with prior periods unadjusted. Upon adoption of the new guidance, the Company also recorded deferred tax assets of $4,945, net of a valuation allowance of $12,090, for previously unrecognized excess tax benefits (including tax benefits from dividends or dividend equivalents) on share-based incentive compensation arrangements, with an offsetting adjustment to retained earnings. With respect to forfeiture rates, the Company will continue to estimate the number of awards expected to be forfeited, rather than electing the option to account for forfeitures as they occur. See Note 14. Revenue from Contracts with Customers —In May 2014, the FASB issued comprehensive new revenue recognition guidance. The guidance requires a company to recognize revenue when it transfers promised services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those services and requires enhanced disclosures. The guidance also changes the accounting for certain contract costs, including whether they may be offset against revenue in the condensed consolidated statements of operations. On July 9, 2015, the FASB approved the deferral of the effective date of the new revenue guidance by one year to annual reporting periods beginning after December 15, 2017, with early adoption being permitted for annual periods beginning after December 15, 2016. The guidance may be adopted using a full retrospective approach or a modified cumulative effect approach. During 2016, the FASB issued additional clarifications for certain aspects of the new revenue recognition guidance. The Company currently expects to adopt the revenue recognition guidance in the first quarter of 2018. The Company’s implementation efforts include the identification of revenue within the scope of the guidance and the evaluation of revenue contracts. The Company also continues to evaluate both the timing of revenue recognition and the presentation of certain contract costs. Classification of Certain Cash Receipts and Cash Payments— In August and November 2016, the FASB issued updated guidance which clarifies how a company should classify certain cash receipts and cash payments on the statement of cash flows and clarifies that restricted cash should be included in the total of cash and cash equivalents on the statement of cash flows. The new guidance for both updates is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. The new guidance is to be applied on a retrospective basis. The Company is currently evaluating the new guidance. Clarifying the Definition of a Business— In January 2017, the FASB issued updated guidance to clarify the definition of a business within the context of business combinations. The updated guidance requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This updated guidance is expected to reduce the number of transactions that need to be further evaluated as business combinations. If further evaluation is necessary, the updated guidance will require that a business set include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. The updated guidance will remove the evaluation of whether a market participant could replace missing elements. The new guidance is effective for annual and interim periods beginning after December 15, 2017 and is to be applied on a prospective basis. The Company is currently evaluating the new guidance. Compensation — — — I n March 2016, the FASB issued updated guidance on the presentation of net benefit cost in the statement of operations and the components eligible for capitalization. The new guidance requires that only the service cost component of net periodic pension cost and net periodic postretirement benefit cost be presented with other employee compensation costs in operating expenses. The other components of net benefit cost, including amortization of prior service cost, and gains and losses from settlements and curtailments, are to be included in non-operating expenses. The new guidance also stipulates that only the service cost component of net benefit cost is eligible for capitalization. This new guidance is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the new guidance. Leases —In February 2016, the FASB issued updated guidance for leases. The guidance requires a lessee to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial condition, (ii) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis, and (iii) classify all cash payments within operating activities in the statement of cash flows. The new guidance is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The new guidance is to be applied on a modified retrospective basis. The Company is currently evaluating the new guidance. Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments —In June 2016, the FASB issued new guidance regarding the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology in the current guidance with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The new guidance is effective for annual and interim periods beginning after December 15, 2019 with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the new guidance. Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment —In January 2017, the FASB issued updated guidance which eliminated Step 2 from the goodwill impairment test. Step 2 is the process of measuring a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires entities to measure a goodwill impairment loss as the amount by which a reporting unit’s carrying value exceeds its fair value, limited to the carrying amount of goodwill. The FASB also eliminated the requirements for entities that have reporting units with zero or negative carrying amounts to perform a qualitative assessment for the goodwill impairment test. Instead, those entities would be required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The new guidance is effective for interim or annual goodwill impairment tests performed in fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the new guidance.

Receivables

Receivables	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Receivables	3. RECEIVABLES The Company’s receivables represent fee receivables, amounts due from customers and other receivables, and amounts due from Lazard Ltd subsidiaries. Receivables are stated net of an estimated allowance for doubtful accounts, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. Activity in the allowance for doubtful accounts for the three month periods ended March 31, 2017 and 2016 was as follows: Three Months Ended March 31, 2017 2016 Beginning Balance $ 16,386 $ 12,882 Bad debt expense, net of recoveries 13,651 514 Charge-offs, foreign currency translation and other adjustments (375 ) (2,166 ) Ending Balance $ 29,662 $ 11,230 Bad debt expense, net of recoveries is included in “investment banking and other advisory fees” on the condensed consolidated statements of operations. At March 31, 2017 and December 31, 2016, the Company had receivables past due or deemed uncollectible of $42,489 and $22,212, respectively. Of the Company’s fee receivables at March 31, 2017 and December 31, 2016, $63,119 and $76,133, respectively, represented interest-bearing financing receivables. In addition, at March 31, 2017 and December 31, 2016, the Company had interest-bearing receivables from Lazard Ltd subsidiaries of $2,837 and $20,365, respectively. Based upon our historical loss experience, the credit quality of the counterparties, and the lack of past due or uncollectible amounts, there was no allowance for doubtful accounts required at those dates related to such receivables. The aggregate carrying amount of our non-interest bearing receivables of $476,485 and $570,486 at March 31, 2017 and December 31, 2016, respectively, approximates fair value.

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments Schedule [Abstract]
Investments	4. INVESTMENTS The Company’s investments and securities sold, not yet purchased, consist of the following at March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 Interest-bearing deposits $ 483 $ 456 Equities 42,962 41,017 Funds: Alternative investments (a) 31,046 32,441 Debt (a) 61,486 74,597 Equity (a) 135,926 188,268 Private equity 109,949 122,421 338,407 417,727 Equity method 222 222 Total investments 382,074 459,422 Less: Interest-bearing deposits 483 456 Equity method 222 222 Investments, at fair value $ 381,369 $ 458,744 Securities sold, not yet purchased, at fair value (included in “other liabilities”) $ 4,293 $ 4,482 (a) Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $11,085, $24,004 and $71,552, respectively, at March 31, 2017 and $13,080, $37,869 and $128,219, respectively, at December 31, 2016, held in order to satisfy the Company’s liability 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 actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 6 and 12). Interest-bearing deposits have original maturities of greater than three months but equal to or less than one year and are carried at cost that approximates fair value due to their short-term maturities. Equities primarily consist of seed investments invested in marketable equity securities of large-, mid- and small-cap domestic, international and global companies held within separately managed accounts related to our Asset Management business. Alternative investment funds primarily consist of interests in various Lazard-managed hedge funds, funds of funds and mutual funds. Debt funds primarily consist of seed investments in funds related to our Asset Management business that invest in debt securities, amounts related to LFI discussed above and an investment in a Lazard-managed debt fund. Equity funds primarily consist of seed investments in funds related to our Asset Management business that invest in equity securities, 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 mezzanine fund, which invests in mezzanine debt of a diversified selection of small- to mid-cap European companies, and (iii) a fund targeting significant noncontrolling-stake investments in established private companies. 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”). During the three month periods ended March 31, 2017 and 2016, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to “trading” securities still held as of the reporting date as follows: Three Months Ended March 31, 2017 2016 Net unrealized investment gains $ 13,180 $ 4,992

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. 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 equities 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 securities 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 primarily based on the publicly reported closing price for the fund. The fair value of investments in private equity funds is classified as Level 2 for certain investments that were valued based on a probable transaction value as of the reporting date that differs from net asset value (“NAV”). 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 and the estimated fair value of the 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. The fair value of derivatives entered into by the Company is classified as Level 2 and 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 6. Investments Measured at 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 March 31, 2017 and December 31, 2016, 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: March 31, 2017 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Equities $ 41,425 $ - $ 1,537 $ - $ 42,962 Funds: Alternative investments 23,999 - - 7,047 31,046 Debt 61,480 - - 6 61,486 Equity 135,884 - - 42 135,926 Private equity - 28,196 - 81,753 109,949 Derivatives - 4,057 - - 4,057 Total $ 262,788 $ 32,253 $ 1,537 $ 88,848 $ 385,426 Liabilities: Securities sold, not yet purchased $ 4,293 $ - $ - $ - $ 4,293 Contingent consideration liability - - 4,078 - 4,078 Derivatives - 179,023 - - 179,023 Total $ 4,293 $ 179,023 $ 4,078 $ - $ 187,394 December 31, 2016 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Equities $ 39,509 $ - $ 1,508 $ - $ 41,017 Funds: Alternative investments 25,316 - - 7,125 32,441 Debt 74,591 - - 6 74,597 Equity 188,229 - - 39 188,268 Private equity - - - 122,421 122,421 Derivatives - 1,993 - - 1,993 Total $ 327,645 $ 1,993 $ 1,508 $ 129,591 $ 460,737 Liabilities: Securities sold, not yet purchased $ 4,482 $ - $ - $ - $ 4,482 Contingent consideration liability - 3,364 3,364 Derivatives - 182,223 - - 182,223 Total $ 4,482 $ 182,223 $ 3,364 $ - $ 190,069 The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 Beginning Balance Net Realized Gains/Losses Included In Earnings (a) Purchases/ Acquisitions Sales/ Dispositions Foreign Currency Translation Adjustments Ending Balance Assets: Investments: Equities $ 1,508 $ 2 $ - $ (8 ) $ 35 $ 1,537 Total Level 3 Assets $ 1,508 $ 2 $ - $ (8 ) $ 35 $ 1,537 Liabilities: Contingent consideration liability $ 3,364 $ 714 $ - $ - $ - $ 4,078 Total Level 3 Liabilities $ 3,364 $ 714 $ - $ - $ - $ 4,078 Three Months Ended March 31, 2016 Beginning Balance Net Realized Gains / Purchases/ Acquisitions Sales/ Dispositions Foreign Currency Translation Adjustments Ending Balance Assets: Investments: Equities $ 1,276 $ 3 $ - $ - $ 22 $ 1,301 Total Level 3 Assets $ 1,276 $ 3 $ - $ - $ 22 $ 1,301 (a) Earnings recorded in “other revenue” for investments in equities for the three month periods ended March 31, 2017 and 2016 include net unrealized gains of $0 and $3, respectively. Earnings recorded in “amortization and other acquisition-related costs” for the contingent consideration liability for the three month period ended March 31, 2017 includes unrealized losses of $714. There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the three month periods ended March 31, 2017 and 2016. Certain investments that were valued at NAV as of December 31, 2016 were transferred to Level 2 from the NAV category in the three months ended March 31, 2017, as these investments were valued based on a probable transaction value as of the reporting date that differs from NAV. The following tables present, at March 31, 2017 and December 31, 2016, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value: March 31, 2017 Estimated Liquidation Period of Investments Not Redeemable Investments Redeemable Fair Value Unfunded Commitments % of Fair Value Not Redeemable % Next 5 Years % 5-10 Years % Thereafter Redemption Frequency Redemption Notice Period Alternative Hedge funds $ 5,974 $ - NA NA NA NA (a) <30-60 days Funds of funds 505 - NA NA NA NA (b) <30-90 days Other 568 - NA NA NA NA (c) <30-60 days Debt funds 6 - NA NA NA NA (d) 30 days Equity funds 42 - NA NA NA NA (e) <30-90 days Private equity funds: Equity growth 81,753 9,183 (f) 100 % 14 % 40 % 46 % NA NA Total $ 88,848 $ 9,183 (a) weekly (48%), monthly (2%) and quarterly (50%) (b) monthly (98%) and quarterly (2%) (c) daily (6%) and monthly (94%) (d) daily (100%) (e) daily (18%), monthly (51%) and quarterly (31%) (f) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $6,904 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. December 31, 2016 Estimated Liquidation Period of Investments Not Redeemable Investments Redeemable Fair Value Unfunded Commitments % of Fair Value Not Redeemable % Next 5 Years % 5-10 Years % Thereafter Redemption Frequency Redemption Notice Period Alternative Hedge funds $ 6,190 $ - NA NA NA NA (a) <30-60 days Funds of funds 492 - NA NA NA NA (b) <30-90 days Other 443 - NA NA NA NA (c) <30-60 days Debt funds 6 - NA NA NA NA (d) 30 days Equity funds 39 - NA NA NA NA (e) <30-90 days Private equity funds: Equity growth 90,824 9,183 (f) 100 % 12 % 33 % 55 % NA NA Mezzanine debt 31,597 - 100 % - - 100 % NA NA Total $ 129,591 $ 9,183 (a) weekly (73%), monthly (2%) and quarterly (25%) (b) monthly (98%) and quarterly (2%) (c) daily (7%) and monthly (93%) (d) daily (100%) (e) daily (19%), monthly (50%) and quarterly (31%) (f) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $6,886 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. Investment Capital Funding Commitments —At March 31, 2017, the Company’s maximum unfunded commitments for capital contributions to investment funds primarily arose from commitments to EGCP III, which amounted to $8,613. The investment period for EGCP III ended on October 12, 2016, after which point the Company’s obligation to fund capital contributions for new investments in EGCP III expired. The Company remains obligated until October 12, 2023 (or any earlier liquidation of EGCP III) to make capital contributions necessary to fund follow-on investments and to pay for fund expenses.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives	6. DERIVATIVES The Company enters into forward foreign currency exchange rate contracts, interest rate swaps, interest rate futures, total return swap contracts on various equity and debt indices and other derivative contracts to economically hedge exposures to fluctuations in currency exchange rates, interest rates and equity and debt prices. The Company reports its derivative instruments separately as assets and liabilities unless a legal right of set-off exists under a master netting agreement enforceable by law. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the condensed consolidated statements of financial condition. Gains and losses on the Company’s derivative instruments are generally included in “interest income” and “interest expense”, respectively, or “revenue-other”, depending on the nature of the underlying item, in the condensed consolidated statements of operations. In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments, adjusted for estimated forfeitures, and is included in “accrued compensation and benefits” in the condensed consolidated statements of financial condition. Changes in the fair value of the derivative liabilities are included in “compensation and benefits” in the condensed consolidated statements of operations, the impact of which equally offsets the changes in the fair value of investments which are currently expected to be delivered upon settlement of LFI and other similar deferred compensation arrangements, which are reported in “revenue-other” in the condensed consolidated statements of operations. The table below presents 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 12) on the accompanying condensed consolidated statements of financial condition as of March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 Derivative Assets: Forward foreign currency exchange rate contracts $ 3,937 $ 1,993 Total return swaps and other (a) 120 - $ 4,057 $ 1,993 Derivative Liabilities: Forward foreign currency exchange rate contracts $ 736 $ 2,792 Total return swaps and other (a) 3,547 9,043 LFI and other similar deferred compensation arrangements 174,740 170,388 $ 179,023 $ 182,223 (a) For total return swaps, amounts represent the netting of gross derivative assets and liabilities of $197 and $3,624 as of March 31, 2017, respectively, and $357 and $9,400 as of December 31, 2016, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $12,376 and $16,996 as of March 31, 2017 and December 31, 2016, respectively. Net gains (losses) with respect to derivative instruments (predominantly reflected 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 periods ended March 31, 2017 and 2016, were as follows: Three Months Ended March 31, 2017 2016 Forward foreign currency exchange rate contracts $ 1,472 $ (7,300 ) LFI and other similar deferred compensation arrangements (7,353 ) 2,514 Total return swaps and other (5,385 ) (37 ) Total $ (11,266 ) $ (4,823 )

Property

Property	3 Months Ended
	Mar. 31, 2017
Property Plant And Equipment [Abstract]
Property	7. PROPERTY At March 31, 2017 and December 31, 2016, property consisted of the following: Estimated Depreciable March 31, December 31, Life in Years 2017 2016 Buildings 33 $ 134,711 $ 132,821 Leasehold improvements 3-20 177,165 175,810 Furniture and equipment 3-10 180,091 172,325 Construction in progress 10,427 14,038 Total 502,394 494,994 Less - Accumulated depreciation and amortization 296,274 285,997 Property $ 206,120 $ 208,997

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	8. GOODWILL AND OTHER INTANGIBLE ASSETS The components of goodwill and other intangible assets at March 31, 2017 and December 31, 2016 are presented below: March 31, December 31, 2017 2016 Goodwill $ 358,631 $ 352,124 Other intangible assets (net of accumulated amortization) 6,425 6,858 $ 365,056 $ 358,982 At March 31, 2017 and December 31, 2016, goodwill of $294,090 and $287,583, respectively, was attributable to the Company’s Financial Advisory segment and, at each such respective date, $64,541 of goodwill was attributable to the Company’s Asset Management segment. Changes in the carrying amount of goodwill for the three month periods ended March 31, 2017 and 2016 are as follows: Three Months Ended March 31, 2017 2016 Balance, January 1 $ 352,124 $ 320,761 Foreign currency translation adjustments 6,507 6,289 Balance, March 31 $ 358,631 $ 327,050 All changes in the carrying amount of goodwill for the three month periods ended March 31, 2017 and 2016 are attributable to the Company’s Financial Advisory segment. The gross cost and accumulated amortization of other intangible assets as of March 31, 2017 and December 31, 2016, by major intangible asset category, are as follows: March 31, 2017 December 31, 2016 Gross Cost Accumulated Amortization Net Carrying Amount Gross Cost Accumulated Amortization Net Carrying Amount Success/performance fees $ 33,040 $ 26,926 $ 6,114 $ 33,040 $ 26,543 $ 6,497 Management fees, customer relationships and non-compete agreements 33,436 33,125 311 33,436 33,075 361 $ 66,476 $ 60,051 $ 6,425 $ 66,476 $ 59,618 $ 6,858 Amortization expense of intangible assets, included in “amortization and other acquisition-related costs” in the condensed consolidated statements of operations, for the three month periods ended March 31, 2017 and 2016 was $434 and $644, respectively. Estimated future amortization expense is as follows: Year Ending December 31, Amortization Expense (a) 2017 (April 1 through December 31) $ 5,646 2018 779 Total amortization expense $ 6,425 (a) Approximately 33% of intangible asset amortization is attributable to a noncontrolling interest.

Senior Debt

Senior Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Senior Debt	9. SENIOR DEBT Senior debt is comprised of the following as of March 31, 2017 and December 31, 2016: Outstanding as of Initial Annual March 31, 2017 December 31, 2016 Principal Amount Maturity Date Interest Rate(a) Principal Unamortized Debt Costs Carrying Value Principal Unamortized Debt Costs Carrying Value Lazard Group 2020 Senior Notes 500,000 11/14/20 4.25 % $ 500,000 $ 3,339 $ 496,661 $ 500,000 $ 3,569 $ 496,431 Lazard Group 2025 Senior Notes 400,000 2/13/25 3.75 % 400,000 3,714 396,286 400,000 3,833 396,167 Lazard Group 2027 Senior Notes 300,000 3/1/27 3.625 % 300,000 3,904 296,096 300,000 3,998 296,002 Total $ 1,200,000 $ 10,957 $ 1,189,043 $ 1,200,000 $ 11,400 $ 1,188,600 (a) The effective interest rates of Lazard Group’s 4.25% senior notes due November 14, 2020 (the “2020 Notes”), Lazard Group’s 3.75% senior notes due February 13, 2025 (the “2025 Notes”) and Lazard Group’s 3.625% senior notes due March 1, 2027 (the “2027 Notes”) are 4.43%, 3.87% and 3.76%, respectively. On September 25, 2015, Lazard Group entered into an Amended and Restated Credit Agreement for a five-year $150,000 senior revolving credit facility with a group of lenders (the “Amended and Restated Credit Agreement”), which expires in September 2020. The Amended and Restated Credit Agreement amended and restated the previous credit agreement dated September 25, 2012. Borrowings under the Amended and Restated Credit Agreement generally will bear interest at LIBOR plus an applicable margin for specific interest periods determined based on Lazard Group’s highest credit rating from an internationally recognized credit agency. At March 31, 2017 and December 31, 2016, no amounts were outstanding under the Amended and Restated Credit Agreement. The Amended and Restated Credit Agreement, the indenture and the supplemental indentures relating to Lazard Group’s senior notes contain certain covenants, events of default and other customary provisions, including a customary make-whole provision in the event of early redemption, where applicable. As of March 31, 2017, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured. As of March 31, 2017, the Company had approximately $172,000 in unused lines of credit available to it, including the credit facility provided under the Amended and Restated Credit Agreement, and unused lines of credit available to LFB of approximately $21,000 (at March 31, 2017 exchange rates). The Company’s senior debt at March 31, 2017 and December 31, 2016 is carried at historical amounts of $1,189,043 and $1,188,600, respectively. At those dates, the fair value of such senior debt was approximately $1,219,000 and $1,204,000, 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. COMMITMENTS AND CONTINGENCIES Leases —The Company has various leases and other contractual commitments arising in the ordinary course of business. Guarantees —In the normal course of business, LFB provides indemnifications to third parties to protect them in the event of non-performance by its clients. At March 31, 2017, LFB had $3,174 of such indemnifications and held $3,092 of collateral/counter-guarantees to secure these commitments. The Company believes the likelihood of loss with respect to these indemnities is remote. Accordingly, no liability is recorded in the condensed consolidated statement of financial condition. Business Acquisitions —For a business acquired in 2016, consideration consists of (i) previously paid one-time cash payment and 60,817 shares of Class A common stock subject to non-compete provisions and (ii) up to 210,431 additional shares of Class A common stock that are subject to certain performance thresholds. As of March 31, 2017, none of the contingent shares had been earned. Other Commitments —The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, each of LFB and LFNY may enter into underwriting commitments in which it will participate as an underwriter. At March 31, 2017, LFB and LFNY had no such underwriting commitments. See Notes 5 and 13 for information regarding commitments relating to investment capital funding commitments and obligations to fund our pension plans, respectively. In the opinion of management, the fulfillment of the commitments described herein will 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, 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 experiences 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 fiscal 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

Members' Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Members' Equity	11. MEMBERS’ EQUITY 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 Ltd may declare on its Class A common stock and (ii) tax distributions in respect of income taxes that Lazard Ltd’s subsidiaries incur. During the three month periods ended March 31, 2017 and 2016, Lazard Group distributed $193,460 and $153,090, respectively, to the subsidiaries of Lazard Ltd. 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. Share Repurchase Program —During the three month period ended March 31, 2017 and since 2014, the Board of Directors of Lazard authorized the repurchase of Lazard Ltd Class A common stock as set forth in the table below: Date Repurchase Authorization Expiration April 2014 $ 200,000 December February 2015 $ 150,000 December January 2016 $ 200,000 December April 2016 $ 113,182 December November 2016 $ 236,000 December The Company expects that the share repurchase program will primarily be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”). 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 quarter to quarter due to a variety of factors. Purchases with respect to such program are set forth in the table below: Three Months Ended March 31: Number of Shares Purchased Average Price Per Share 2016 2,424,571 $ 34.29 2017 2,464,967 $ 43.02 During the three month periods ended March 31, 2017 and 2016, certain of our executive officers received Lazard Ltd Class A common stock in connection with the vesting of previously-granted deferred equity incentive awards. The vesting 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 Lazard Ltd Class A common stock from the executive officers equal in value to all or a portion of the estimated amount of such tax. In addition, during the three month period ended March 31, 2017, the Company purchased shares of Lazard Ltd Class A common stock from an executive officer. The aggregate value of all such purchases during the three month periods ended March 31, 2017 and 2016 was approximately $14,700 and $3,100, respectively. As of March 31, 2017, a total of $249,078 of share repurchase authorization remained available under Lazard Ltd’s share repurchase program, $13,078 of which will expire on December 31, 2017 and $236,000 of which will expire on December 31, 2018. During the three month period ended March 31, 2017, Lazard Ltd 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), Net of Tax (“AOCI”) —The tables below reflect the balances of each component of AOCI at March 31, 2017 and 2016 and activity during the three month periods then ended: Currency Translation Adjustments Employee Benefit Plans Total AOCI Amount Attributable to Noncontrolling Interests Total Lazard Group AOCI Balance, January 1, 2017 $ (109,306 ) $ (161,471 ) $ (270,777 ) $ (2 ) $ (270,775 ) Activity January 1 to March 31, 2017: Other comprehensive income (loss) before reclassifications 13,299 (495 ) 12,804 - 12,804 Adjustments for items reclassified to earnings, net of tax - 1,086 1,086 - 1,086 Net other comprehensive income 13,299 591 13,890 - 13,890 Balance, March 31, 2017 $ (96,007 ) $ (160,880 ) $ (256,887 ) $ (2 ) $ (256,885 ) Currency Translation Adjustments Employee Benefit Plans Total AOCI Amount Attributable to Noncontrolling Interests Total Lazard Group AOCI Balance, January 1, 2016 $ (52,687 ) $ (137,073 ) $ (189,760 ) $ (2 ) $ (189,758 ) Activity January 1 to March 31, 2016: Other comprehensive income (loss) before reclassifications 7,501 (141 ) 7,360 - 7,360 Adjustments for items reclassified to earnings, net of tax - 1,186 1,186 - 1,186 Net other comprehensive income 7,501 1,045 8,546 - 8,546 Balance, March 31, 2016 $ (45,186 ) $ (136,028 ) $ (181,214 ) $ (2 ) $ (181,212 ) The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 2016 Amortization relating to employee benefit plans (a) $ 1,362 $ 1,579 Less - related income taxes 276 393 Total reclassifications, net of tax $ 1,086 $ 1,186 (a) Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “compensation and benefits” expense on the condensed consolidated statements of operations. Noncontrolling Interests —Noncontrolling interests principally represent interests held in Edgewater’s management vehicles that the Company is deemed to control, but does not own. The tables below summarize net income attributable to noncontrolling interests for the three month periods ended March 31, 2017 and 2016 and noncontrolling interests as of March 31, 2017 and December 31, 2016 in the Company’s condensed consolidated financial statements: Net Income Attributable to Noncontrolling Interests Three Months Ended March 31, 2017 2016 Edgewater $ 2,877 $ 3,900 Noncontrolling Interests as of March 31, December 31, 2017 2016 Edgewater $ 59,533 $ 57,238 Other 7 8 Total $ 59,540 $ 57,246

Incentive Plans

Incentive Plans	3 Months Ended
	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Incentive Plans	12. INCENTIVE PLANS Share-Based Incentive Plan Awards A description of Lazard Ltd’s 2008 Plan and 2005 Equity Incentive Plan (the “2005 Plan”) and activity with respect thereto during the three month periods ended March 31, 2017 and 2016 is presented below. Shares Available Under the 2008 Plan and 2005 Plan The 2008 Plan authorizes the issuance of shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”) and other share-based awards. Under the 2008 Plan, the maximum number of shares available is based on a formula that limits the aggregate number of shares that may, at any time, be subject to awards that are considered “outstanding” under the 2008 Plan to 30% of the then-outstanding shares of Class A common stock. The 2005 Plan authorized the issuance of up to 25,000,000 shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, RSUs and other share-based awards. Each RSU or similar award granted under the 2005 Plan represents a contingent right to receive one share of Class A common stock, at no cost to the recipient. The fair value of such awards is generally determined based on the closing market price of Class A common stock at the date of grant. The 2005 Plan expired in the second quarter of 2015, although unvested awards granted under the 2005 Plan remain outstanding and continue to be subject to its terms. The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs and restricted stock awards) and “professional services” expense (with respect to deferred stock units (“DSUs”)) within the Company’s accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 2016 Share-based incentive awards: RSUs $ 55,941 $ 54,408 PRSUs 11,782 16,689 Restricted Stock 9,649 23,476 DSUs 77 33 Total $ 77,449 $ 94,606 The ultimate amount of compensation and benefits expense relating to share-based awards is dependent upon the actual number of shares of Class A common stock that vest. The Company periodically assesses the forfeiture rates used for such estimates, including as a result of any applicable performance conditions. A change in estimated forfeiture rates or performance results in a cumulative adjustment to previously recorded 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 DSUs RSUs generally require future service as a condition for the delivery of the underlying shares of Class A common stock (unless the recipient is then eligible for retirement under the Company’s retirement policy) and convert into shares of Class A common stock on a one-for-one basis after the stipulated vesting periods. PRSUs, which are RSUs that are also subject to service-based vesting conditions, have additional performance conditions, and are described below. The grant date fair value of the RSUs, net of an estimated forfeiture rate, is amortized over the vesting periods or 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 that provides that during vesting periods each RSU is attributed additional RSUs (or fractions thereof) equivalent to any dividends paid on Class A common stock during such period. During the three month periods ended March 31, 2017 and 2016, dividend participation rights required the issuance of 613,795 and 700,651 RSUs, respectively. Non-executive members of the Board of Directors of Lazard Group, who are the same Non-Executive Directors of Lazard Ltd (“Non-Executive Directors”), receive approximately 55% of their annual compensation for service on the Board of Directors and its committees in the form of DSUs, which resulted in 1,551 DSUs granted during the three month period ended March 31, 2017. Their remaining compensation is payable in cash, which they may elect to receive in the form of additional DSUs under the Directors’ Fee Deferral Unit Plan described below. DSUs are convertible into shares of Class A common stock at the time of cessation of service to the Board of Directors. DSUs include a cash dividend participation right equivalent to dividends paid on Class A common stock. The Company’s Directors’ Fee Deferral Unit Plan permits the Non-Executive Directors to elect to receive additional DSUs in lieu of some or all of their cash fees. The number of DSUs granted to a Non-Executive Director pursuant to this election will equal the value of cash fees that the applicable Non-Executive Director has elected to forego pursuant to such election, divided by the market value of a share of Class A common stock on the date immediately preceding the date of the grant. During the three month periods ended March 31, 2017 and 2016, 3,555 and 2,110 DSUs, respectively, had been granted pursuant to such Plan. DSU awards are expensed at their fair value on their date of grant, inclusive of amounts related to the Directors’ Fee Deferral Unit Plan. The following is a summary of activity relating to RSUs and DSUs during the three month periods ended March 31, 2017 and 2016: RSUs DSUs Units Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Balance, January 1, 2017 11,698,138 $ 40.65 276,725 $ 36.05 Granted (including 613,795 RSUs relating to dividend participation) 4,926,935 $ 43.05 5,106 $ 42.91 Forfeited (19,077 ) $ 39.88 - Vested (3,621,454 ) $ 45.53 - Balance, March 31, 2017 12,984,542 $ 40.20 281,831 $ 36.18 Balance, January 1, 2016 9,599,658 $ 44.06 312,670 $ 35.98 Granted (including 700,651 RSUs relating to dividend participation) 6,140,020 $ 34.54 2,110 $ 31.47 Forfeited (55,826 ) $ 41.58 - - Vested (4,100,192 ) $ 39.12 - - Balance, March 31, 2016 11,583,660 $ 40.78 314,780 $ 35.95 In connection with RSUs that vested during the three month periods ended March 31, 2017 and 2016, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 1,229,531 and 1,327,399 shares of Class A common stock during such respective three month periods. Accordingly, 2,391,923 and 2,772,793 shares of Class A common stock held by the Company were delivered during the three month periods ended March 31, 2017 and 2016, respectively. As of March 31, 2017, estimated unrecognized RSU compensation expense was approximately $260,079, with such expense expected to be recognized over a weighted average period of approximately 1.0 year subsequent to March 31, 2017. Restricted Stock The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the three month periods ended March 31, 2017 and 2016: Restricted Shares Weighted Average Grant Date Fair Value Balance, January 1, 2017 1,655,073 $ 40.95 Granted 841,355 $ 42.58 Forfeited (11,087 ) $ 41.38 Vested (263,457 ) $ 47.93 Balance, March 31, 2017 2,221,884 $ 40.73 Balance, January 1, 2016 713,738 $ 47.12 Granted 1,795,258 $ 36.78 Forfeited (25,662 ) $ 39.89 Vested (627,110 ) $ 36.61 Balance, March 31, 2016 1,856,224 $ 40.77 In connection with shares of restricted Class A common stock that vested during the three month periods ended March 31, 2017 and 2016, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 108,239 and 77,795 shares of Class A common stock during such respective three month periods. Accordingly, 155,218 and 549,315 shares of Class A common stock held by the Company were delivered during the three month periods ended March 31, 2017 and 2016, respectively. The restricted stock awards include a cash dividend participation right equivalent to dividends paid on Class A common stock during the period, which will vest concurrently with the underlying restricted stock award. At March 31, 2017, estimated unrecognized restricted stock expense was approximately $55,675, with such expense to be recognized over a weighted average period of approximately 0.9 years subsequent to March 31, 2017. PRSUs PRSUs are RSUs that are subject to both performance-based and service-based vesting conditions. The number of shares of Class A common stock that a recipient will receive upon vesting of a PRSU will be calculated by reference to certain performance metrics that relate to Lazard Ltd’s performance over a three-year period. The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU generally can range from zero to two times the target number. PRSUs will vest on a single date three years following the date of the grant, provided the applicable service and performance conditions are satisfied. In addition, the performance metrics applicable to each PRSU will be evaluated on an annual basis at the end of each fiscal year during the performance period and, if Lazard Ltd has achieved a threshold level of performance with respect to the fiscal year, 25% of the target number of shares of Class A common stock subject to each PRSU will no longer be at risk of forfeiture based on the achievement of performance criteria. PRSUs include dividend participation rights that provide that during vesting periods, the target number of PRSUs (or, following the relevant performance period, the actual number of shares of Class A common stock that are no longer subject to performance conditions) receive dividend equivalents at the same rate that dividends are paid on Class A common stock during such periods. These dividend equivalents are credited as RSUs that are not subject to the performance-based vesting criteria but are otherwise subject to the same restrictions as the underlying PRSUs to which they relate. The following is a summary of activity relating to PRSUs during the three month periods ended March 31, 2017 and 2016: PRSUs Weighted Average Grant Date Fair Value Balance, January 1, 2017 1,590,756 $ 40.76 Granted (a) 458,113 $ 43.76 Vested (752,770 ) $ 42.26 Balance, March 31, 2017 1,296,099 $ 40.95 Balance, January 1, 2016 1,019,038 $ 44.49 Granted (a) 627,956 $ 32.91 Vested (417,018 ) $ 38.43 Balance, March 31, 2016 1,229,976 $ 40.63 (a) Represents PRSU awards granted during the relevant year at the target payout level. In connection with certain PRSUs that vested during the three month periods ended March 31, 2017 and 2016, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 85,629 and 64,169 shares of Class A common stock during such respective three month periods. Accordingly, 667,141 and 352,849 shares of Class A common stock held by the Company were delivered during the three month periods ended March 31, 2017 and 2016, respectively. Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. As of March 31, 2017, the total estimated unrecognized compensation expense was approximately $20,853, and the Company expects to amortize such expense over a weighted-average period of approximately 0.7 years subsequent to March 31, 2017. LFI and Other Similar Deferred Compensation Arrangements Commencing in February 2011, the Company granted LFI to eligible employees. In connection with LFI and other similar deferred compensation arrangements, which generally require future service as a condition for vesting, the Company recorded 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 vesting periods or 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 statement 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 three month periods ended March 31, 2017 and 2016: Prepaid Compensation Asset Compensation Liability Balance, January 1, 2017 $ 49,650 $ 170,388 Granted 77,580 77,580 Settled - (81,559 ) Forfeited (93 ) (133 ) Amortization (12,491 ) - Change in fair value related to: Increase in fair value of underlying investments - 7,353 Adjustment for estimated forfeitures - 532 Other (12 ) 579 Balance, March 31, 2017 $ 114,634 $ 174,740 Prepaid Compensation Asset Compensation Liability Balance, January 1, 2016 $ 75,703 $ 193,574 Granted 51,871 51,871 Settled - (64,488 ) Forfeited (340 ) (681 ) Amortization (19,436 ) - Change in fair value related to: Decrease in fair value of underlying investments - (2,514 ) Adjustment for estimated forfeitures - 1,804 Other 132 913 Balance, March 31, 2016 $ 107,930 $ 180,479 The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 1.0 year subsequent to March 31, 2017. 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 periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 2016 Amortization, net of forfeitures $ 12,983 $ 20,899 Change in the fair value of underlying investments 7,353 (2,514 ) Total $ 20,336 $ 18,385

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	13. 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”) and, until December 2016, in the U.S., a partially funded contributory medical post-retirement plan covering certain qualifying U.S. employees (the “medical plan” and together with the pension plans, the “post-retirement plans”). The Company also offers defined contribution plans to its employees. The post-retirement 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 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 (the “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 (credit) related to the Company’s post-retirement plans for the three month periods ended March 31, 2017 and 2016: Pension Plans Medical Plan Three Months Ended March 31, 2017 2016 2017 2016 Components of Net Periodic Benefit Cost (Credit): Service cost $ 340 $ 307 $ - $ 4 Interest cost 3,981 5,213 - 45 Expected return on plan assets (6,105 ) (7,166 ) - - Amortization of: Prior service cost 30 590 - - Net actuarial loss (gain) 1,332 989 - - Net periodic benefit cost (credit) $ (422 ) $ (67 ) $ - $ 49

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	14. INCOME TAXES Although a portion of Lazard Group’s income is subject to U.S. federal 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 from its U.S. operations is generally not subject to U.S. federal income taxes because such income is attributable to its partners. Lazard Group, through its subsidiaries, is subject to state and local taxes on its income apportioned to various state and local jurisdictions. Outside the U.S., Lazard Group operates principally through subsidiary corporations that are subject to local income taxes in foreign jurisdictions. Lazard Group is also subject to New York City Unincorporated Business Tax (“UBT”) attributable to its operations apportioned to New York City. The Company recorded income tax provisions of $21,995 and $11,735 for the three month periods ended March 31, 2017 and 2016, respectively, representing effective tax rates of 14.4% and 12.0%, respectively. The difference between the U.S. federal statutory rate of 35.0% 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) change in the valuation allowance affecting the provision for income taxes, (iii) taxes payable to foreign jurisdictions, (iv) excess net tax benefit for share-based incentive compensation, and (v) U.S. state and local taxes, which are incremental to the U.S. federal statutory tax rate. On January 1, 2017, the Company adopted new accounting guidance on share-based incentive compensation. Upon adoption, the Company recognized excess tax benefits of $2,003 from the vesting of share-based incentive compensation in the provision for income taxes in the condensed consolidated statements of operations for the three month period ended March 31, 2017. The Company also recorded deferred tax assets of $4,945, net of a valuation allowance of $12,090, as of January 1, 2017, for previously unrecognized excess tax benefits (including tax benefits from dividends or dividend equivalents) on share-based incentive compensation, with an offsetting adjustment to retained earnings. See Note 2 for further information on the adoption of this new guidance. Substantially all of Lazard’s operations outside the U.S. are conducted in “pass-through” entities for U.S. income tax purposes. The Company provides for U.S. income taxes on a current basis for the relevant portion of those earnings. The repatriation of prior earnings attributable to “non-pass-through” entities would not result in the recognition of a material amount of additional U.S. income taxes.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Parties	15. RELATED PARTIES Receivable from and Payable to Lazard Ltd Subsidiaries Lazard Group’s receivables from subsidiaries of Lazard Ltd at March 31, 2017 and December 31, 2016 included interest-bearing loans of $2,837 and $20,365, respectively, including accrued interest thereon. Interest income relating to interest-bearing loans with subsidiaries of Lazard Ltd amounted to $133 and $185 for the three month periods ended March 31, 2017 and 2016, respectively. Lazard Group’s payables to subsidiaries of Lazard Ltd at March 31, 2017 and December 31, 2016 included interest-bearing loans, including interest thereon, of approximately $65,000 and $60,500, respectively. Interest expense relating to interest-bearing loans with subsidiaries of Lazard Ltd amounted to $944 and $867 for the three month periods ended March 31, 2017 and 2016. 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 fees for providing such services. Investment advisory fees relating to such services were $140,577 and $118,910 for the three month periods ended March 31, 2017 and 2016, respectively, and are included in “asset management fees” on the condensed consolidated statements of operations. Of such amounts, $52,867 and $49,944 remained as receivables at March 31, 2017 and December 31, 2016, respectively, and are included in “fees receivable” on the condensed consolidated statements of financial condition. Other See Note 11 for information regarding related party transactions pertaining to shares repurchased from certain of our executive officers.

Regulatory Authorities

Regulatory Authorities	3 Months Ended
	Mar. 31, 2017
Regulatory Capital Requirements [Abstract]
Regulatory Authorities	16. 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 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 March 31, 2017, the aggregate regulatory net capital of the U.K. Subsidiaries was $128,206, which exceeded the minimum requirement by $112,123. 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 and other clients, and asset-liability management. The investment services activities of the Paris group, exercised through LFB and other subsidiaries of CFLF, primarily LFG (asset management), also are subject to regulation and supervision by the Autorité des Marchés Financiers. At March 31, 2017, the consolidated regulatory net capital of CFLF was $133,162, which exceeded the minimum requirement set for regulatory capital levels by $88,708. 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. During the third quarter of 2013, the Company and the ACPR agreed on terms for the consolidated supervision of LFB and certain other non-Financial Advisory European subsidiaries of the Company (referred to herein, on a combined basis, as the “combined European regulated group”) under such rules. Under this supervision, the combined European regulated group is required to comply with minimum requirements for regulatory net capital to be reported on a quarterly basis and satisfy periodic financial and other reporting obligations. At December 31, 2016, the regulatory net capital of the combined European regulated group was $159,102, which exceeded the minimum requirement set for regulatory capital levels by $84,949. Additionally, the combined European regulated group, together with our European Financial Advisory entities, is required to perform an annual risk assessment and provide certain other information on a periodic basis, including financial reports and information relating to financial performance, balance sheet data and capital structure. 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 March 31, 2017, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $120,725, which exceeded the minimum required capital by $94,924. At March 31, 2017, each of these subsidiaries individually was in compliance with its regulatory capital requirements. Any new or expanded rules and regulations that may be adopted in countries in which we operate (including regulations that have not yet been proposed) could affect us in other ways.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	17. 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 above. 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 periods ended March 31, 2017 and 2016 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 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 allocates investment gains and losses, 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, 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 March 31, 2017 2016 Financial Advisory Net Revenue $ 335,684 $ 266,014 Operating Expenses 259,362 227,078 Operating Income $ 76,322 $ 38,936 Asset Management Net Revenue $ 283,363 $ 245,759 Operating Expenses 188,751 175,161 Operating Income $ 94,612 $ 70,598 Corporate Net Revenue $ 3,430 $ (14,169 ) Operating Expenses 21,352 (2,682 ) Operating Loss $ (17,922 ) $ (11,487 ) Total Net Revenue $ 622,477 $ 497,604 Operating Expenses 469,465 399,557 Operating Income $ 153,012 $ 98,047 As Of March 31, 2017 December 31, 2016 Total Assets Financial Advisory $ 807,368 $ 883,384 Asset Management 572,915 645,653 Corporate 1,914,872 1,986,947 Total $ 3,295,155 $ 3,515,984

Organization and Basis of Pre27

Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
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” or the “Company”). Lazard Group is a Delaware limited liability company and is governed by an Amended and Restated Operating Agreement dated as of October 26, 2015, as amended (the “Operating Agreement”). Lazard Ltd, a Bermuda holding company, and its subsidiaries (collectively referred to as “Lazard Ltd”), including its indirect investment in Lazard Group, is one of the world’s preeminent financial advisory and asset management firms and has long specialized 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 and individuals. Lazard Ltd indirectly held 100% of all outstanding Lazard Group common membership interests as of March 31, 2017 and December 31, 2016. Lazard Ltd, 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 mergers and acquisitions (“M&A”) and other strategic matters, restructurings, capital structure, capital raising, corporate preparedness and various other financial matters, and • Asset Management, which offers a broad range of global investment solutions and investment 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, deferred tax assets, outstanding indebtedness, certain contingent obligations, and assets and liabilities associated with Lazard Group’s Paris-based subsidiary Lazard Frères Banque SA (“LFB”).
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements of Lazard Group 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, 2016. The accompanying December 31, 2016 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 which 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 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 assumed 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 consolidated results of operations for the three month period ended March 31, 2017 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, 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. 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 (ii) elects the option to measure at fair value. Intercompany transactions and balances have been eliminated.
Recent Accounting Developments	Compensation—Stock Compensation: Improvements to Employee Share-Based Payment Accounting —In March 2016, the Financial Accounting Standards Board (the “FASB”) issued new guidance regarding share-based incentive compensation. The new guidance includes several amendments which affect various aspects of the accounting for share-based incentive compensation transactions, including the income tax consequences, estimation of forfeitures, effect on earnings per share, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective for annual and interim periods beginning after December 15, 2016. The Company adopted this new guidance on January 1, 2017. The new guidance has since January 1, 2017 affected, and the Company expects that in future periods the new guidance will affect, the provision for income taxes for the delivery of stock under share-based incentive compensation arrangements, as well as the effective tax rate in the relevant periods, which could be material to the condensed consolidated statements of operations and the classification of cash flows in the relevant periods. The inclusion of excess tax benefits as an operating activity within the statement of cash flows was adopted on a prospective basis, with prior periods unadjusted. Upon adoption of the new guidance, the Company also recorded deferred tax assets of $ 4,945, net of a valuation allowance of $12,090, for previously unrecognized excess tax benefits (including tax benefits from dividends or dividend equivalents) on share-based incentive compensation arrangements, with an offsetting adjustment to retained earnings. With respect to forfeiture rates, the Company will continue to estimate the number of awards expected to be forfeited, rather than electing the option to account for forfeitures as they occur. See Note 14. Revenue from Contracts with Customers —In May 2014, the FASB issued comprehensive new revenue recognition guidance. The guidance requires a company to recognize revenue when it transfers promised services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those services and requires enhanced disclosures. The guidance also changes the accounting for certain contract costs, including whether they may be offset against revenue in the condensed consolidated statements of operations. On July 9, 2015, the FASB approved the deferral of the effective date of the new revenue guidance by one year to annual reporting periods beginning after December 15, 2017, with early adoption being permitted for annual periods beginning after December 15, 2016. The guidance may be adopted using a full retrospective approach or a modified cumulative effect approach. During 2016, the FASB issued additional clarifications for certain aspects of the new revenue recognition guidance. The Company currently expects to adopt the revenue recognition guidance in the first quarter of 2018. The Company’s implementation efforts include the identification of revenue within the scope of the guidance and the evaluation of revenue contracts. The Company also continues to evaluate both the timing of revenue recognition and the presentation of certain contract costs. Classification of Certain Cash Receipts and Cash Payments— In August and November 2016, the FASB issued updated guidance which clarifies how a company should classify certain cash receipts and cash payments on the statement of cash flows and clarifies that restricted cash should be included in the total of cash and cash equivalents on the statement of cash flows. The new guidance for both updates is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. The new guidance is to be applied on a retrospective basis. The Company is currently evaluating the new guidance. Clarifying the Definition of a Business— In January 2017, the FASB issued updated guidance to clarify the definition of a business within the context of business combinations. The updated guidance requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This updated guidance is expected to reduce the number of transactions that need to be further evaluated as business combinations. If further evaluation is necessary, the updated guidance will require that a business set include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. The updated guidance will remove the evaluation of whether a market participant could replace missing elements. The new guidance is effective for annual and interim periods beginning after December 15, 2017 and is to be applied on a prospective basis. The Company is currently evaluating the new guidance. Compensation — — — I n March 2016, the FASB issued updated guidance on the presentation of net benefit cost in the statement of operations and the components eligible for capitalization. The new guidance requires that only the service cost component of net periodic pension cost and net periodic postretirement benefit cost be presented with other employee compensation costs in operating expenses. The other components of net benefit cost, including amortization of prior service cost, and gains and losses from settlements and curtailments, are to be included in non-operating expenses. The new guidance also stipulates that only the service cost component of net benefit cost is eligible for capitalization. This new guidance is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the new guidance. Leases —In February 2016, the FASB issued updated guidance for leases. The guidance requires a lessee to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial condition, (ii) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis, and (iii) classify all cash payments within operating activities in the statement of cash flows. The new guidance is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The new guidance is to be applied on a modified retrospective basis. The Company is currently evaluating the new guidance. Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments —In June 2016, the FASB issued new guidance regarding the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology in the current guidance with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The new guidance is effective for annual and interim periods beginning after December 15, 2019 with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the new guidance. Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment —In January 2017, the FASB issued updated guidance which eliminated Step 2 from the goodwill impairment test. Step 2 is the process of measuring a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires entities to measure a goodwill impairment loss as the amount by which a reporting unit’s carrying value exceeds its fair value, limited to the carrying amount of goodwill. The FASB also eliminated the requirements for entities that have reporting units with zero or negative carrying amounts to perform a qualitative assessment for the goodwill impairment test. Instead, those entities would be required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The new guidance is effective for interim or annual goodwill impairment tests performed in fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the new guidance.
Derivative Instruments	The Company enters into forward foreign currency exchange rate contracts, interest rate swaps, interest rate futures, total return swap contracts on various equity and debt indices and other derivative contracts to economically hedge exposures to fluctuations in currency exchange rates, interest rates and equity and debt prices. The Company reports its derivative instruments separately as assets and liabilities unless a legal right of set-off exists under a master netting agreement enforceable by law. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the condensed consolidated statements of financial condition. Gains and losses on the Company’s derivative instruments are generally included in “interest income” and “interest expense”, respectively, or “revenue-other”, depending on the nature of the underlying item, in the condensed consolidated statements of operations. In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments, adjusted for estimated forfeitures, and is included in “accrued compensation and benefits” in the condensed consolidated statements of financial condition. Changes in the fair value of the derivative liabilities are included in “compensation and benefits” in the condensed consolidated statements of operations, the impact of which equally offsets the changes in the fair value of investments which are currently expected to be delivered upon settlement of LFI and other similar deferred compensation arrangements, which are reported in “revenue-other” in the condensed consolidated statements of operations.
Fair Value Measurement Policy	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 equities 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 securities 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 primarily based on the publicly reported closing price for the fund. The fair value of investments in private equity funds is classified as Level 2 for certain investments that were valued based on a probable transaction value as of the reporting date that differs from net asset value (“NAV”). 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 and the estimated fair value of the 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. The fair value of derivatives entered into by the Company is classified as Level 2 and 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 6. Investments Measured at 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.
Share-Based Incentive Plan Awards	Share-Based Incentive Plan Awards A description of Lazard Ltd’s 2008 Plan and 2005 Equity Incentive Plan (the “2005 Plan”) and activity with respect thereto during the three month periods ended March 31, 2017 and 2016 is presented below. Shares Available Under the 2008 Plan and 2005 Plan The 2008 Plan authorizes the issuance of shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”) and other share-based awards. Under the 2008 Plan, the maximum number of shares available is based on a formula that limits the aggregate number of shares that may, at any time, be subject to awards that are considered “outstanding” under the 2008 Plan to 30% of the then-outstanding shares of Class A common stock. The 2005 Plan authorized the issuance of up to 25,000,000 shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, RSUs and other share-based awards. Each RSU or similar award granted under the 2005 Plan represents a contingent right to receive one share of Class A common stock, at no cost to the recipient. The fair value of such awards is generally determined based on the closing market price of Class A common stock at the date of grant. The 2005 Plan expired in the second quarter of 2015, although unvested awards granted under the 2005 Plan remain outstanding and continue to be subject to its terms.
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 (the “Trustees”). Management also evaluates from time to time whether to make voluntary contributions to the plans.

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Schedule of Activity in Allowance for Doubtful Accounts	Activity in the allowance for doubtful accounts for the three month periods ended March 31, 2017 and 2016 was as follows: Three Months Ended March 31, 2017 2016 Beginning Balance $ 16,386 $ 12,882 Bad debt expense, net of recoveries 13,651 514 Charge-offs, foreign currency translation and other adjustments (375 ) (2,166 ) Ending Balance $ 29,662 $ 11,230

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments Schedule [Abstract]
Company's Investments and Securities Sold, Not Yet Purchased	The Company’s investments and securities sold, not yet purchased, consist of the following at March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 Interest-bearing deposits $ 483 $ 456 Equities 42,962 41,017 Funds: Alternative investments (a) 31,046 32,441 Debt (a) 61,486 74,597 Equity (a) 135,926 188,268 Private equity 109,949 122,421 338,407 417,727 Equity method 222 222 Total investments 382,074 459,422 Less: Interest-bearing deposits 483 456 Equity method 222 222 Investments, at fair value $ 381,369 $ 458,744 Securities sold, not yet purchased, at fair value (included in “other liabilities”) $ 4,293 $ 4,482 (a) Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $11,085, $24,004 and $71,552, respectively, at March 31, 2017 and $13,080, $37,869 and $128,219, respectively, at December 31, 2016, held in order to satisfy the Company’s liability 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 actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 6 and 12).
Schedule of Trading Securities Net Unrealized Investment Gains and Losses	During the three month periods ended March 31, 2017 and 2016, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to “trading” securities still held as of the reporting date as follows: Three Months Ended March 31, 2017 2016 Net unrealized investment gains $ 13,180 $ 4,992

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis and Investments Measured at NAV	The following tables present, as of March 31, 2017 and December 31, 2016, 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: March 31, 2017 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Equities $ 41,425 $ - $ 1,537 $ - $ 42,962 Funds: Alternative investments 23,999 - - 7,047 31,046 Debt 61,480 - - 6 61,486 Equity 135,884 - - 42 135,926 Private equity - 28,196 - 81,753 109,949 Derivatives - 4,057 - - 4,057 Total $ 262,788 $ 32,253 $ 1,537 $ 88,848 $ 385,426 Liabilities: Securities sold, not yet purchased $ 4,293 $ - $ - $ - $ 4,293 Contingent consideration liability - - 4,078 - 4,078 Derivatives - 179,023 - - 179,023 Total $ 4,293 $ 179,023 $ 4,078 $ - $ 187,394 December 31, 2016 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Equities $ 39,509 $ - $ 1,508 $ - $ 41,017 Funds: Alternative investments 25,316 - - 7,125 32,441 Debt 74,591 - - 6 74,597 Equity 188,229 - - 39 188,268 Private equity - - - 122,421 122,421 Derivatives - 1,993 - - 1,993 Total $ 327,645 $ 1,993 $ 1,508 $ 129,591 $ 460,737 Liabilities: Securities sold, not yet purchased $ 4,482 $ - $ - $ - $ 4,482 Contingent consideration liability - 3,364 3,364 Derivatives - 182,223 - - 182,223 Total $ 4,482 $ 182,223 $ 3,364 $ - $ 190,069
Summary 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 periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 Beginning Balance Net Realized Gains/Losses Included In Earnings (a) Purchases/ Acquisitions Sales/ Dispositions Foreign Currency Translation Adjustments Ending Balance Assets: Investments: Equities $ 1,508 $ 2 $ - $ (8 ) $ 35 $ 1,537 Total Level 3 Assets $ 1,508 $ 2 $ - $ (8 ) $ 35 $ 1,537 Liabilities: Contingent consideration liability $ 3,364 $ 714 $ - $ - $ - $ 4,078 Total Level 3 Liabilities $ 3,364 $ 714 $ - $ - $ - $ 4,078 Three Months Ended March 31, 2016 Beginning Balance Net Realized Gains / Purchases/ Acquisitions Sales/ Dispositions Foreign Currency Translation Adjustments Ending Balance Assets: Investments: Equities $ 1,276 $ 3 $ - $ - $ 22 $ 1,301 Total Level 3 Assets $ 1,276 $ 3 $ - $ - $ 22 $ 1,301 (a) Earnings recorded in “other revenue” for investments in equities for the three month periods ended March 31, 2017 and 2016 include net unrealized gains of $0 and $3, respectively. Earnings recorded in “amortization and other acquisition-related costs” for the contingent consideration liability for the three month period ended March 31, 2017 includes unrealized losses of $714.
Fair Value of Certain Investments Based on NAV	The following tables present, at March 31, 2017 and December 31, 2016, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value: March 31, 2017 Estimated Liquidation Period of Investments Not Redeemable Investments Redeemable Fair Value Unfunded Commitments % of Fair Value Not Redeemable % Next 5 Years % 5-10 Years % Thereafter Redemption Frequency Redemption Notice Period Alternative Hedge funds $ 5,974 $ - NA NA NA NA (a) <30-60 days Funds of funds 505 - NA NA NA NA (b) <30-90 days Other 568 - NA NA NA NA (c) <30-60 days Debt funds 6 - NA NA NA NA (d) 30 days Equity funds 42 - NA NA NA NA (e) <30-90 days Private equity funds: Equity growth 81,753 9,183 (f) 100 % 14 % 40 % 46 % NA NA Total $ 88,848 $ 9,183 (a) weekly (48%), monthly (2%) and quarterly (50%) (b) monthly (98%) and quarterly (2%) (c) daily (6%) and monthly (94%) (d) daily (100%) (e) daily (18%), monthly (51%) and quarterly (31%) (f) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $6,904 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. December 31, 2016 Estimated Liquidation Period of Investments Not Redeemable Investments Redeemable Fair Value Unfunded Commitments % of Fair Value Not Redeemable % Next 5 Years % 5-10 Years % Thereafter Redemption Frequency Redemption Notice Period Alternative Hedge funds $ 6,190 $ - NA NA NA NA (a) <30-60 days Funds of funds 492 - NA NA NA NA (b) <30-90 days Other 443 - NA NA NA NA (c) <30-60 days Debt funds 6 - NA NA NA NA (d) 30 days Equity funds 39 - NA NA NA NA (e) <30-90 days Private equity funds: Equity growth 90,824 9,183 (f) 100 % 12 % 33 % 55 % NA NA Mezzanine debt 31,597 - 100 % - - 100 % NA NA Total $ 129,591 $ 9,183 (a) weekly (73%), monthly (2%) and quarterly (25%) (b) monthly (98%) and quarterly (2%) (c) daily (7%) and monthly (93%) (d) daily (100%) (e) daily (19%), monthly (50%) and quarterly (31%) (f) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $6,886 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition	The table below presents 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 12) on the accompanying condensed consolidated statements of financial condition as of March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 Derivative Assets: Forward foreign currency exchange rate contracts $ 3,937 $ 1,993 Total return swaps and other (a) 120 - $ 4,057 $ 1,993 Derivative Liabilities: Forward foreign currency exchange rate contracts $ 736 $ 2,792 Total return swaps and other (a) 3,547 9,043 LFI and other similar deferred compensation arrangements 174,740 170,388 $ 179,023 $ 182,223 (a) For total return swaps, amounts represent the netting of gross derivative assets and liabilities of $197 and $3,624 as of March 31, 2017, respectively, and $357 and $9,400 as of December 31, 2016, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $12,376 and $16,996 as of March 31, 2017 and December 31, 2016, respectively.
Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments	Net gains (losses) with respect to derivative instruments (predominantly reflected 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 periods ended March 31, 2017 and 2016, were as follows: Three Months Ended March 31, 2017 2016 Forward foreign currency exchange rate contracts $ 1,472 $ (7,300 ) LFI and other similar deferred compensation arrangements (7,353 ) 2,514 Total return swaps and other (5,385 ) (37 ) Total $ (11,266 ) $ (4,823 )

Property (Tables)

Property (Tables)	3 Months Ended
	Mar. 31, 2017
Property Plant And Equipment [Abstract]
Components of Property	At March 31, 2017 and December 31, 2016, property consisted of the following: Estimated Depreciable March 31, December 31, Life in Years 2017 2016 Buildings 33 $ 134,711 $ 132,821 Leasehold improvements 3-20 177,165 175,810 Furniture and equipment 3-10 180,091 172,325 Construction in progress 10,427 14,038 Total 502,394 494,994 Less - Accumulated depreciation and amortization 296,274 285,997 Property $ 206,120 $ 208,997

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Components of Goodwill and Other Intangible Assets	The components of goodwill and other intangible assets at March 31, 2017 and December 31, 2016 are presented below: March 31, December 31, 2017 2016 Goodwill $ 358,631 $ 352,124 Other intangible assets (net of accumulated amortization) 6,425 6,858 $ 365,056 $ 358,982
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill for the three month periods ended March 31, 2017 and 2016 are as follows: Three Months Ended March 31, 2017 2016 Balance, January 1 $ 352,124 $ 320,761 Foreign currency translation adjustments 6,507 6,289 Balance, March 31 $ 358,631 $ 327,050
Gross Cost and Accumulated Amortization of Other Intangible Assets	The gross cost and accumulated amortization of other intangible assets as of March 31, 2017 and December 31, 2016, by major intangible asset category, are as follows: March 31, 2017 December 31, 2016 Gross Cost Accumulated Amortization Net Carrying Amount Gross Cost Accumulated Amortization Net Carrying Amount Success/performance fees $ 33,040 $ 26,926 $ 6,114 $ 33,040 $ 26,543 $ 6,497 Management fees, customer relationships and non-compete agreements 33,436 33,125 311 33,436 33,075 361 $ 66,476 $ 60,051 $ 6,425 $ 66,476 $ 59,618 $ 6,858
Estimated Future Amortization Expense	Estimated future amortization expense is as follows: Year Ending December 31, Amortization Expense (a) 2017 (April 1 through December 31) $ 5,646 2018 779 Total amortization expense $ 6,425 (a) Approximately 33% of intangible asset amortization is attributable to a noncontrolling interest.

Senior Debt (Tables)

Senior Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Senior Debt	Senior debt is comprised of the following as of March 31, 2017 and December 31, 2016: Outstanding as of Initial Annual March 31, 2017 December 31, 2016 Principal Amount Maturity Date Interest Rate(a) Principal Unamortized Debt Costs Carrying Value Principal Unamortized Debt Costs Carrying Value Lazard Group 2020 Senior Notes 500,000 11/14/20 4.25 % $ 500,000 $ 3,339 $ 496,661 $ 500,000 $ 3,569 $ 496,431 Lazard Group 2025 Senior Notes 400,000 2/13/25 3.75 % 400,000 3,714 396,286 400,000 3,833 396,167 Lazard Group 2027 Senior Notes 300,000 3/1/27 3.625 % 300,000 3,904 296,096 300,000 3,998 296,002 Total $ 1,200,000 $ 10,957 $ 1,189,043 $ 1,200,000 $ 11,400 $ 1,188,600 (a) The effective interest rates of Lazard Group’s 4.25% senior notes due November 14, 2020 (the “2020 Notes”), Lazard Group’s 3.75% senior notes due February 13, 2025 (the “2025 Notes”) and Lazard Group’s 3.625% senior notes due March 1, 2027 (the “2027 Notes”) are 4.43%, 3.87% and 3.76%, respectively.

Members' Equity (Tables)

Members' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Share Repurchase Authorized by Board of Directors	Share Repurchase Program —During the three month period ended March 31, 2017 and since 2014, the Board of Directors of Lazard authorized the repurchase of Lazard Ltd Class A common stock as set forth in the table below: Date Repurchase Authorization Expiration April 2014 $ 200,000 December February 2015 $ 150,000 December January 2016 $ 200,000 December April 2016 $ 113,182 December November 2016 $ 236,000 December
Schedule of Share Repurchase Program	The Company expects that the share repurchase program will primarily be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”). 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 quarter to quarter due to a variety of factors. Purchases with respect to such program are set forth in the table below: Three Months Ended March 31: Number of Shares Purchased Average Price Per Share 2016 2,424,571 $ 34.29 2017 2,464,967 $ 43.02
Accumulated Other Comprehensive Income (Loss), Net of Tax	Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”) —The tables below reflect the balances of each component of AOCI at March 31, 2017 and 2016 and activity during the three month periods then ended: Currency Translation Adjustments Employee Benefit Plans Total AOCI Amount Attributable to Noncontrolling Interests Total Lazard Group AOCI Balance, January 1, 2017 $ (109,306 ) $ (161,471 ) $ (270,777 ) $ (2 ) $ (270,775 ) Activity January 1 to March 31, 2017: Other comprehensive income (loss) before reclassifications 13,299 (495 ) 12,804 - 12,804 Adjustments for items reclassified to earnings, net of tax - 1,086 1,086 - 1,086 Net other comprehensive income 13,299 591 13,890 - 13,890 Balance, March 31, 2017 $ (96,007 ) $ (160,880 ) $ (256,887 ) $ (2 ) $ (256,885 ) Currency Translation Adjustments Employee Benefit Plans Total AOCI Amount Attributable to Noncontrolling Interests Total Lazard Group AOCI Balance, January 1, 2016 $ (52,687 ) $ (137,073 ) $ (189,760 ) $ (2 ) $ (189,758 ) Activity January 1 to March 31, 2016: Other comprehensive income (loss) before reclassifications 7,501 (141 ) 7,360 - 7,360 Adjustments for items reclassified to earnings, net of tax - 1,186 1,186 - 1,186 Net other comprehensive income 7,501 1,045 8,546 - 8,546 Balance, March 31, 2016 $ (45,186 ) $ (136,028 ) $ (181,214 ) $ (2 ) $ (181,212 )
Adjustments for Items Reclassified Out of AOCI	The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 2016 Amortization relating to employee benefit plans (a) $ 1,362 $ 1,579 Less - related income taxes 276 393 Total reclassifications, net of tax $ 1,086 $ 1,186 (a) Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “compensation and benefits” expense on the condensed consolidated statements of operations.
Net Income Attributable to Noncontrolling Interests	The tables below summarize net income attributable to noncontrolling interests for the three month periods ended March 31, 2017 and 2016 and noncontrolling interests as of March 31, 2017 and December 31, 2016 in the Company’s condensed consolidated financial statements: Net Income Attributable to Noncontrolling Interests Three Months Ended March 31, 2017 2016 Edgewater $ 2,877 $ 3,900 Noncontrolling Interests as of March 31, December 31, 2017 2016 Edgewater $ 59,533 $ 57,238 Other 7 8 Total $ 59,540 $ 57,246

Incentive Plans (Tables)

Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense	The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs and restricted stock awards) and “professional services” expense (with respect to deferred stock units (“DSUs”)) within the Company’s accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 2016 Share-based incentive awards: RSUs $ 55,941 $ 54,408 PRSUs 11,782 16,689 Restricted Stock 9,649 23,476 DSUs 77 33 Total $ 77,449 $ 94,606
Summary 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 three month periods ended March 31, 2017 and 2016: Prepaid Compensation Asset Compensation Liability Balance, January 1, 2017 $ 49,650 $ 170,388 Granted 77,580 77,580 Settled - (81,559 ) Forfeited (93 ) (133 ) Amortization (12,491 ) - Change in fair value related to: Increase in fair value of underlying investments - 7,353 Adjustment for estimated forfeitures - 532 Other (12 ) 579 Balance, March 31, 2017 $ 114,634 $ 174,740 Prepaid Compensation Asset Compensation Liability Balance, January 1, 2016 $ 75,703 $ 193,574 Granted 51,871 51,871 Settled - (64,488 ) Forfeited (340 ) (681 ) Amortization (19,436 ) - Change in fair value related to: Decrease in fair value of underlying investments - (2,514 ) Adjustment for estimated forfeitures - 1,804 Other 132 913 Balance, March 31, 2016 $ 107,930 $ 180,479 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 periods ended March 31, 2017 and 2016: Three Months Ended March 31, 2017 2016 Amortization, net of forfeitures $ 12,983 $ 20,899 Change in the fair value of underlying investments 7,353 (2,514 ) Total $ 20,336 $ 18,385
Restricted Stock Units and Deferred Stock Units [Member]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity relating to RSUs and DSUs during the three month periods ended March 31, 2017 and 2016: RSUs DSUs Units Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Balance, January 1, 2017 11,698,138 $ 40.65 276,725 $ 36.05 Granted (including 613,795 RSUs relating to dividend participation) 4,926,935 $ 43.05 5,106 $ 42.91 Forfeited (19,077 ) $ 39.88 - Vested (3,621,454 ) $ 45.53 - Balance, March 31, 2017 12,984,542 $ 40.20 281,831 $ 36.18 Balance, January 1, 2016 9,599,658 $ 44.06 312,670 $ 35.98 Granted (including 700,651 RSUs relating to dividend participation) 6,140,020 $ 34.54 2,110 $ 31.47 Forfeited (55,826 ) $ 41.58 - - Vested (4,100,192 ) $ 39.12 - - Balance, March 31, 2016 11,583,660 $ 40.78 314,780 $ 35.95
Restricted Stock Awards Class A [Member]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the three month periods ended March 31, 2017 and 2016: Restricted Shares Weighted Average Grant Date Fair Value Balance, January 1, 2017 1,655,073 $ 40.95 Granted 841,355 $ 42.58 Forfeited (11,087 ) $ 41.38 Vested (263,457 ) $ 47.93 Balance, March 31, 2017 2,221,884 $ 40.73 Balance, January 1, 2016 713,738 $ 47.12 Granted 1,795,258 $ 36.78 Forfeited (25,662 ) $ 39.89 Vested (627,110 ) $ 36.61 Balance, March 31, 2016 1,856,224 $ 40.77
PRSUs [Member]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity relating to PRSUs during the three month periods ended March 31, 2017 and 2016: PRSUs Weighted Average Grant Date Fair Value Balance, January 1, 2017 1,590,756 $ 40.76 Granted (a) 458,113 $ 43.76 Vested (752,770 ) $ 42.26 Balance, March 31, 2017 1,296,099 $ 40.95 Balance, January 1, 2016 1,019,038 $ 44.49 Granted (a) 627,956 $ 32.91 Vested (417,018 ) $ 38.43 Balance, March 31, 2016 1,229,976 $ 40.63 (a) Represents PRSU awards granted during the relevant year at the target payout level.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Cost (Credit)	The following table summarizes the components of net periodic benefit cost (credit) related to the Company’s post-retirement plans for the three month periods ended March 31, 2017 and 2016: Pension Plans Medical Plan Three Months Ended March 31, 2017 2016 2017 2016 Components of Net Periodic Benefit Cost (Credit): Service cost $ 340 $ 307 $ - $ 4 Interest cost 3,981 5,213 - 45 Expected return on plan assets (6,105 ) (7,166 ) - - Amortization of: Prior service cost 30 590 - - Net actuarial loss (gain) 1,332 989 - - Net periodic benefit cost (credit) $ (422 ) $ (67 ) $ - $ 49

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
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 March 31, 2017 2016 Financial Advisory Net Revenue $ 335,684 $ 266,014 Operating Expenses 259,362 227,078 Operating Income $ 76,322 $ 38,936 Asset Management Net Revenue $ 283,363 $ 245,759 Operating Expenses 188,751 175,161 Operating Income $ 94,612 $ 70,598 Corporate Net Revenue $ 3,430 $ (14,169 ) Operating Expenses 21,352 (2,682 ) Operating Loss $ (17,922 ) $ (11,487 ) Total Net Revenue $ 622,477 $ 497,604 Operating Expenses 469,465 399,557 Operating Income $ 153,012 $ 98,047 As Of March 31, 2017 December 31, 2016 Total Assets Financial Advisory $ 807,368 $ 883,384 Asset Management 572,915 645,653 Corporate 1,914,872 1,986,947 Total $ 3,295,155 $ 3,515,984

Organization and Basis of Pre39

Organization and Basis of Presentation - Additional Information (Detail) - Segment	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Organization And Basis Of Presentation [Line Items]
Governing operating agreement, date	Oct. 26, 2015
Number of business segments	2
Lazard Ltd [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held	100.00%	100.00%

Recent Accounting Developments

Recent Accounting Developments - Additional Information (Detail) - Adjustments for New Accounting Principle [Member] $ in Thousands	Jan. 01, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets recorded for previously unrecognized excess tax benefits on share-based payment awards	$ 4,945
Deferred tax assets, valuation allowance	$ 12,090

Receivables - Schedule of Activ

Receivables - Schedule of Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allowance For Doubtful Accounts Receivable Rollforward
Allowance for doubtful accounts receivables, Beginning balance	$ 16,386	$ 12,882
Bad debt expense, net of recoveries	13,651	514
Charge-offs, foreign currency translation and other adjustments	(375)	(2,166)
Allowance for doubtful accounts receivables, Ending balance	$ 29,662	$ 11,230

Receivables - Additional Inform

Receivables - Additional Information (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables past due or deemed uncollectible	$ 42,489,000	$ 22,212,000
Interest-bearing financing fee receivables	63,119,000	76,133,000
Interest-bearing receivables from Lazard Ltd subsidiaries	14,827,000	28,702,000
Allowance for doubtful accounts receivables	29,662,000	16,386,000	$ 11,230,000	$ 12,882,000
Aggregate carrying amount of non-interest bearing receivables	476,485,000	570,486,000
Lazard Ltd Subsidiaries [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest-bearing receivables from Lazard Ltd subsidiaries	2,837,000	20,365,000
Interest Bearing Receivables [Member] | Lazard Ltd Subsidiaries [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest-bearing receivables from Lazard Ltd subsidiaries	2,837,000	20,365,000
Financing Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts receivables	$ 0	$ 0

Investments - Company's Investm

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Total investments	$ 382,074	$ 459,422
Equity method	222	222
Investments, at fair value	381,369	458,744
Securities sold, not yet purchased, at fair value (included in "other liabilities")	4,293	4,482
Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Total investments	483	456
Equities [Member]
Schedule of Investments [Line Items]
Total investments	42,962	41,017
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Total investments	31,046	32,441
Investments, at fair value	31,046	32,441
Debt Funds [Member]
Schedule of Investments [Line Items]
Total investments	61,486	74,597
Investments, at fair value	61,486	74,597
Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	135,926	188,268
Investments, at fair value	135,926	188,268
Private Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	109,949	122,421
Investments, at fair value	109,949	122,421
Funds Total [Member]
Schedule of Investments [Line Items]
Total investments	$ 338,407	$ 417,727

Investments - Company's Inves44

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Investments	$ 382,074	$ 459,422
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Investments	31,046	32,441
Alternative Investment Funds [Member] | Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	11,085	13,080
Debt Funds [Member]
Schedule of Investments [Line Items]
Investments	61,486	74,597
Debt Funds [Member] | Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	24,004	37,869
Equity Funds [Member]
Schedule of Investments [Line Items]
Investments	135,926	188,268
Equity Funds [Member] | Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	$ 71,552	$ 128,219

Investments - Additional Inform

Investments - Additional Information (Detail) - Interest-bearing Deposits [Member]	3 Months Ended
	Mar. 31, 2017
Minimum [Member]
Schedule of Investments [Line Items]
Interest-bearing deposits maturity period	3 months
Maximum [Member]
Schedule of Investments [Line Items]
Interest-bearing deposits maturity period	1 year

Investments - Schedule of Tradi

Investments - Schedule of Trading Securities Net Unrealized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Realized Or Unrealized Gain Loss On Trading Securities [Abstract]
Net unrealized investment gains	$ 13,180	$ 4,992

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis and Investments Measured at NAV (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 381,369	$ 458,744
Total Derivative Assets	4,057	1,993
Total investments measured at fair value	385,426	460,737
Securities sold, not yet purchased	4,293	4,482
Contingent consideration liability	4,078	3,364
Total Derivative Liabilities	179,023	182,223
Total of Liabilities Measured at Fair Value	187,394	190,069
Fair Value, Measurements, Nonrecurring [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments measured at fair value	88,848	129,591
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments measured at fair value	262,788	327,645
Securities sold, not yet purchased	4,293	4,482
Total of Liabilities Measured at Fair Value	4,293	4,482
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Derivative Assets	4,057	1,993
Total investments measured at fair value	32,253	1,993
Total Derivative Liabilities	179,023	182,223
Total of Liabilities Measured at Fair Value	179,023	182,223
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments measured at fair value	1,537	1,508
Contingent consideration liability	4,078	3,364
Total of Liabilities Measured at Fair Value	4,078	3,364
Equities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	42,962	41,017
Equities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	41,425	39,509
Equities [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,537	1,508
Alternative Investment Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	31,046	32,441
Alternative Investment Funds [Member] | Fair Value, Measurements, Nonrecurring [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7,047	7,125
Alternative Investment Funds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	23,999	25,316
Debt Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	61,486	74,597
Debt Funds [Member] | Fair Value, Measurements, Nonrecurring [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6	6
Debt Funds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	61,480	74,591
Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	135,926	188,268
Equity Funds [Member] | Fair Value, Measurements, Nonrecurring [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	42	39
Equity Funds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	135,884	188,229
Private Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	109,949	122,421
Private Equity Funds [Member] | Fair Value, Measurements, Nonrecurring [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	81,753	$ 122,421
Private Equity Funds [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 28,196

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Assets:
Beginning Balance	$ 1,508	$ 1,276
Net Unrealized/Realized Gains/Losses Included In Earnings	2	3
Purchases/Acquisitions	0	0
Sales/Dispositions	(8)	0
Foreign Currency Translation Adjustments	35	22
Ending Balance	1,537	1,301
Liabilities:
Beginning Balance	3,364
Net Unrealized/Realized Gains/Losses Included In Earnings	714
Purchases/Acquisitions	0
Sales/Dispositions	0
Foreign Currency Translation Adjustments	0
Ending Balance	4,078
Contingent Consideration Liability [Member]
Liabilities:
Beginning Balance	3,364
Net Unrealized/Realized Gains/Losses Included In Earnings	714
Purchases/Acquisitions	0
Sales/Dispositions	0
Foreign Currency Translation Adjustments	0
Ending Balance	4,078
Equities [Member]
Assets:
Beginning Balance	1,508	1,276
Net Unrealized/Realized Gains/Losses Included In Earnings	2	3
Purchases/Acquisitions	0	0
Sales/Dispositions	(8)	0
Foreign Currency Translation Adjustments	35	22
Ending Balance	$ 1,537	$ 1,301

Fair Value Measurements - Sum49

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Equities [Member]
Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Net unrealized gains	$ 0	$ 3
Contingent Consideration Liability [Member]
Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Net unrealized losses	$ 714

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Fair Value Option Quantitative Disclosures [Line Items]
Transfers between Level 1, 2 and 3 in fair value measurement hierarchy	$ 0	$ 0
Unfunded Commitments	9,183,000		$ 9,183,000
EGCP III [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 8,613,000
End of the investment period	Oct. 12, 2016
Remaining obligation date	Oct. 12, 2023

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 88,848	$ 129,591
Unfunded Commitments	9,183	9,183
Hedge Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 5,974	$ 6,190
Hedge Funds [Member] | Weekly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	48.00%	73.00%
Hedge Funds [Member] | Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	2.00%	2.00%
Hedge Funds [Member] | Quarterly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	50.00%	25.00%
Hedge Funds [Member] | Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Hedge Funds [Member] | Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Funds of Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 505	$ 492
Funds of Funds [Member] | Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	98.00%	98.00%
Funds of Funds [Member] | Quarterly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	2.00%	2.00%
Funds of Funds [Member] | Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Funds of Funds [Member] | Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	90 days
Other [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 568	$ 443
Other [Member] | Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	94.00%	93.00%
Other [Member] | Daily [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	6.00%	7.00%
Other [Member] | Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Other [Member] | Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Debt Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 6	$ 6
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt Funds [Member] | Daily [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	100.00%	100.00%
Equity Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 42	$ 39
Equity Funds [Member] | Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	51.00%	50.00%
Equity Funds [Member] | Quarterly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	31.00%	31.00%
Equity Funds [Member] | Daily [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	18.00%	19.00%
Equity Funds [Member] | Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Equity Funds [Member] | Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	90 days
Private Equity Funds [Member] | Equity Growth [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 81,753	$ 90,824
Unfunded Commitments	$ 9,183	$ 9,183
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	14.00%	12.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	40.00%	33.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	46.00%	55.00%
Private Equity Funds [Member] | Mezzanine Debt [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value		$ 31,597
% of Fair Value Not Redeemable		100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter		100.00%

Fair Value Measurements - Fai52

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 9,183	$ 9,183
Private Equity Funds [Member] | Consolidated But Not Owned [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 6,904	$ 6,886

Derivatives - Fair Values of De

Derivatives - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 4,057	$ 1,993
Derivative Liabilities	179,023	182,223
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	3,937	1,993
Derivative Liabilities	736	2,792
Total Return Swaps and Other [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	120
Derivative Liabilities	3,547	9,043
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 174,740	$ 170,388

Derivatives - Fair Values of 54

Derivatives - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Gross derivative liability	$ 174,740	$ 170,388	$ 180,479	$ 193,574
Total Return Swaps [Member]
Derivatives, Fair Value [Line Items]
Gross derivative assets	197	357
Gross derivative liability	3,624	9,400
Cash collateral pledged for total return swaps	$ 12,376	$ 16,996

Derivatives - Net Gains (Losses

Derivatives - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (11,266)	$ (4,823)
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	1,472	(7,300)
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(7,353)	2,514
Total Return Swaps and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (5,385)	$ (37)

Property - Components of Proper

Property - Components of Property (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 502,394	$ 494,994
Less - Accumulated depreciation and amortization	296,274	285,997
Property	206,120	208,997
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 134,711	132,821
Property, plant and equipment, useful life	33 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 177,165	175,810
Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 180,091	172,325
Furniture and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 10,427	$ 14,038

Goodwill and Other Intangible57

Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 358,631	$ 352,124	$ 327,050	$ 320,761
Other intangible assets (net of accumulated amortization)	6,425	6,858
Goodwill and other intangible assets, Total	$ 365,056	$ 358,982

Goodwill and Other Intangible58

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 358,631	$ 327,050	$ 352,124	$ 320,761
Amortization of intangible assets	434	$ 644
Financial Advisory Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	294,090		287,583
Asset Management Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 64,541		$ 64,541

Goodwill and Other Intangible59

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 352,124	$ 320,761
Foreign currency translation adjustments	6,507	6,289
Ending Balance	$ 358,631	$ 327,050

Goodwill and Other Intangible60

Goodwill and Other Intangible Assets - Gross Cost and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	$ 66,476	$ 66,476
Other intangible assets, Accumulated Amortization	60,051	59,618
Other intangible assets, Net Carrying Amount	6,425	6,858
Success/Performance Fees [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	33,040	33,040
Other intangible assets, Accumulated Amortization	26,926	26,543
Other intangible assets, Net Carrying Amount	6,114	6,497
Management Fees, Customer Relationships and Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	33,436	33,436
Other intangible assets, Accumulated Amortization	33,125	33,075
Other intangible assets, Net Carrying Amount	$ 311	$ 361

Goodwill and Other Intangible61

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Mar. 31, 2017USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2017 (April 1 through December 31)	$ 5,646
2,018	779
Total amortization expense	$ 6,425

Goodwill and Other Intangible62

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Percentage of intangible asset amortization attributable to non-controlling interests	33.00%

Senior Debt - Senior Debt (Deta

Senior Debt - Senior Debt (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	$ 1,200,000,000	$ 1,200,000,000
Senior Debt, Outstanding Unamortized Debt Costs	10,957,000	11,400,000
Senior Debt, Outstanding Carrying Value	1,189,043,000	1,188,600,000
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000,000
Senior Debt, Maturity Date	Nov. 14, 2020
Senior Debt, Annual Interest Rate	4.25%
Senior Debt, Outstanding Principal	$ 500,000,000	500,000,000
Senior Debt, Outstanding Unamortized Debt Costs	3,339,000	3,569,000
Senior Debt, Outstanding Carrying Value	496,661,000	496,431,000
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 400,000,000
Senior Debt, Maturity Date	Feb. 13, 2025
Senior Debt, Annual Interest Rate	3.75%
Senior Debt, Outstanding Principal	$ 400,000,000	400,000,000
Senior Debt, Outstanding Unamortized Debt Costs	3,714,000	3,833,000
Senior Debt, Outstanding Carrying Value	396,286,000	396,167,000
Lazard Group 3.625% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 300,000,000
Senior Debt, Maturity Date	Mar. 1, 2027
Senior Debt, Annual Interest Rate	3.625%
Senior Debt, Outstanding Principal	$ 300,000,000	300,000,000
Senior Debt, Outstanding Unamortized Debt Costs	3,904,000	3,998,000
Senior Debt, Outstanding Carrying Value	$ 296,096,000	$ 296,002,000

Senior Debt - Senior Debt (Pare

Senior Debt - Senior Debt (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2017
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate	4.25%
Original Maturity Date	Nov. 14, 2020
Effective interest rates of senior notes	4.43%
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate	3.75%
Original Maturity Date	Feb. 13, 2025
Effective interest rates of senior notes	3.87%
Lazard Group 3.625% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate	3.625%
Original Maturity Date	Mar. 1, 2027
Effective interest rates of senior notes	3.76%

Senior Debt - Additional Inform

Senior Debt - Additional Information (Detail) - USD ($)	Sep. 25, 2015	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Senior debt		$ 1,189,043,000	$ 1,188,600,000
Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		172,000,000
Senior Debt [Member]
Debt Instrument [Line Items]
Senior debt		1,189,043,000	1,188,600,000
Fair value of senior debt		1,219,000,000	1,204,000,000
LFB [Member] | Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		21,000,000
Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Senior revolving credit facility	$ 150,000,000
Duration of senior revolving credit facility, in years	5 years
Expiration of credit facility	2020-09
Outstanding credit facility		$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2016	Mar. 31, 2017
Other Commitments [Line Items]
Guarantees indemnifications		$ 3,174,000
Collateral/counter-guarantees		3,092,000
LFB [Member]
Other Commitments [Line Items]
Other commitments		0
LFNY [Member]
Other Commitments [Line Items]
Other commitments		$ 0
Business Acquisitions [Member]
Other Commitments [Line Items]
Number of contingent shares earned		0
Business Acquisitions [Member] | Lazard Ltd [Member]
Other Commitments [Line Items]
Common stock issued and issuable	60,817
Business Acquisitions [Member] | Lazard Ltd [Member] | Maximum [Member]
Other Commitments [Line Items]
Contingent shares issuable upon satisfaction of performance thresholds	210,431

Members' Equity - Additional In

Members' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Lazard Ltd [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining authorization	$ 249,078
Lazard Ltd [Member] | January and April, 2016 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining authorization	$ 13,078
Share repurchase authorization expiration date	Dec. 31, 2017
Lazard Ltd [Member] | November, 2016 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining authorization	$ 236,000
Share repurchase authorization expiration date	Dec. 31, 2018
Lazard Ltd Subsidiaries [Member]
Schedule Of Stockholders Equity [Line Items]
Distribution to members	$ 193,460	$ 153,090
Executive Officers [Member]
Schedule Of Stockholders Equity [Line Items]
Shares repurchased, value	$ 14,700	$ 3,100

Members' Equity - Schedule of S

Members' Equity - Schedule of Share Repurchase Authorized by Board of Directors (Detail) - Lazard Ltd [Member]	3 Months Ended
	Mar. 31, 2017USD ($)
April, 2014 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 200,000,000
Expiration	Dec. 31, 2015
February, 2015 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 150,000,000
Expiration	Dec. 31, 2016
January, 2016 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 200,000,000
Expiration	Dec. 31, 2017
April, 2016 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 113,182,000
Expiration	Dec. 31, 2017
November, 2016 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 236,000,000
Expiration	Dec. 31, 2018

Members' Equity - Schedule of69

Members' Equity - Schedule of Share Repurchase Program (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Repurchase Program [Abstract]
Number of Shares Purchased	2,464,967	2,424,571
Average Price Per Share	$ 43.02	$ 34.29

Members' Equity - Accumulated O

Members' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 736,140	$ 702,900	[1]
Other comprehensive income (loss) before reclassifications	12,804	7,360
Adjustments for items reclassified to earnings, net of tax	1,086	1,186
OTHER COMPREHENSIVE INCOME, NET OF TAX	13,890	8,546
Balance	598,979	604,188
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(109,306)	(52,687)
Other comprehensive income (loss) before reclassifications	13,299	7,501
OTHER COMPREHENSIVE INCOME, NET OF TAX	13,299	7,501
Balance	(96,007)	(45,186)
Employee Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(161,471)	(137,073)
Other comprehensive income (loss) before reclassifications	(495)	(141)
Adjustments for items reclassified to earnings, net of tax	1,086	1,186
OTHER COMPREHENSIVE INCOME, NET OF TAX	591	1,045
Balance	(160,880)	(136,028)
Total AOCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(270,777)	(189,760)
Balance	(256,887)	(181,214)
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2)	(2)
Balance	(2)	(2)
Total Lazard Group AOCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(270,775)	(189,758)	[1]
Other comprehensive income (loss) before reclassifications	12,804	7,360
Adjustments for items reclassified to earnings, net of tax	1,086	1,186
OTHER COMPREHENSIVE INCOME, NET OF TAX	13,890	8,546
Balance	$ (256,885)	$ (181,212)
[1]	At both January 1, 2016 and March 31, 2016, in addition to profit participation interests, there were two managing member interests.

Members' Equity - Adjustments f

Members' Equity - Adjustments for Items Reclassified Out of AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	$ 1,086	$ 1,186
Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization relating to employee benefit plans	1,362	1,579
Less - related income taxes	276	393
Total reclassifications, net of tax	$ 1,086	$ 1,186

Members' Equity - Net Income At

Members' Equity - Net Income Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Change In Ownership Interest [Line Items]
Net Income Attributable to Noncontrolling Interests	$ 2,877	$ 3,900
Noncontrolling interests	59,540		$ 57,246
Edgewater [Member]
Change In Ownership Interest [Line Items]
Net Income Attributable to Noncontrolling Interests	2,877	$ 3,900
Noncontrolling interests	59,533		57,238
Other [Member]
Change In Ownership Interest [Line Items]
Noncontrolling interests	$ 7		$ 8

Incentive Plans - Additional In

Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend participation rights required the issuance of RSUs	613,795	700,651
Non-Executive [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual compensation received by directors in the form of DSUs	55.00%
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis	one-for-one
Grant date fair value, amortized periods	generally one-third after two years, and the remaining two-thirds after the third year
Unrecognized compensation expense	$ 260,079
Unrecognized compensation expense, years	1 year
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual compensation paid in DSUs	1,551
Units granted under the directors deferred unit plan	3,555	2,110
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 55,675
Unrecognized compensation expense, years	10 months 24 days
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 20,853
Unrecognized compensation expense, years	8 months 12 days
Percentage of target number of shares subject to each PRSU no longer subject to forfeiture due to threshold level of performance being achieved	25.00%
Descriptions of vesting period associated with PRSUs	PRSUs will vest on a single date three years following the date of the grant
Vesting period of PRSUs granted	3 years
PSRU's target share distribution for Class A common stock, description	The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU generally can range from zero to two times the target number.
Lazard Ltd [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery	1,229,531	1,327,399
Delivery of common stock associated with stock awards	2,391,923	2,772,793
Lazard Ltd [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery	108,239	77,795
Delivery of common stock associated with stock awards	155,218	549,315
Lazard Ltd [Member] | PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery	85,629	64,169
Delivery of common stock associated with stock awards	667,141	352,849
Lazard Ltd [Member] | Awarded Under 2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding Class A common stock	30.00%
Lazard Ltd [Member] | 2005 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements, 2005 Plan	25,000,000
Lazard Fund Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, years	1 year

Incentive Plans - Summary of Im

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based incentive awards:
Share-based incentive awards	$ 77,449	$ 94,606
RSUs [Member]
Share-based incentive awards:
Share-based incentive awards	55,941	54,408
PRSUs [Member]
Share-based incentive awards:
Share-based incentive awards	11,782	16,689
Restricted Stock [Member]
Share-based incentive awards:
Share-based incentive awards	9,649	23,476
DSUs [Member]
Share-based incentive awards:
Share-based incentive awards	$ 77	$ 33

Incentive Plans - Schedule of A

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
RSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	11,698,138	9,599,658
Units, Granted	4,926,935	6,140,020
Units, Forfeited	(19,077)	(55,826)
Units, Vested	(3,621,454)	(4,100,192)
Units, Ending Balance	12,984,542	11,583,660
Weighted Average Grant Date Fair Value, Beginning Balance	$ 40.65	$ 44.06
Weighted Average Grant Date Fair Value, Granted	43.05	34.54
Weighted Average Grant Date Fair Value, Forfeited	39.88	41.58
Weighted Average Grant Date Fair Value, Vested	45.53	39.12
Weighted Average Grant Date Fair Value, Ending Balance	$ 40.20	$ 40.78
DSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	276,725	312,670
Units, Granted	5,106	2,110
Units, Ending Balance	281,831	314,780
Weighted Average Grant Date Fair Value, Beginning Balance	$ 36.05	$ 35.98
Weighted Average Grant Date Fair Value, Granted	42.91	31.47
Weighted Average Grant Date Fair Value, Ending Balance	$ 36.18	$ 35.95

Incentive Plans - Schedule of76

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Parenthetical) (Detail) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Dividend participation rights	613,795	700,651

Incentive Plans - Summary of Ac

Incentive Plans - Summary of Activity Related to Shares of Restricted Class A Common Stock (Detail) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	1,655,073	713,738
Units, Granted	841,355	1,795,258
Units, Forfeited	(11,087)	(25,662)
Units, Vested	(263,457)	(627,110)
Units, Ending Balance	2,221,884	1,856,224
Weighted Average Grant Date Fair Value, Beginning Balance	$ 40.95	$ 47.12
Weighted Average Grant Date Fair Value, Granted	42.58	36.78
Weighted Average Grant Date Fair Value, Forfeited	41.38	39.89
Weighted Average Grant Date Fair Value, Vested	47.93	36.61
Weighted Average Grant Date Fair Value, Ending Balance	$ 40.73	$ 40.77

Incentive Plans - Summary of 78

Incentive Plans - Summary of Activity Relating to PRSUs (Detail) - PRSUs [Member] - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	1,590,756	1,019,038
Units, Granted	458,113	627,956
Units, Vested	(752,770)	(417,018)
Units, Ending Balance	1,296,099	1,229,976
Weighted Average Grant Date Fair Value, Beginning Balance	$ 40.76	$ 44.49
Weighted Average Grant Date Fair Value, Granted	43.76	32.91
Weighted Average Grant Date Fair Value, Vested	42.26	38.43
Weighted Average Grant Date Fair Value, Ending Balance	$ 40.95	$ 40.63

Incentive Plans - Summary of LF

Incentive Plans - Summary of LFI and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Deferred Compensation Arrangements [Abstract]
Prepaid Compensation Asset, Beginning Balance	$ 49,650	$ 75,703
Prepaid Compensation Asset, Granted	77,580	51,871
Prepaid Compensation Asset, Forfeited	(93)	(340)
Prepaid Compensation Asset, Amortization	(12,491)	(19,436)
Prepaid Compensation Asset, Other	(12)	132
Prepaid Compensation Asset, Ending Balance	114,634	107,930
Compensation Liability, Beginning Balance	170,388	193,574
Compensation Liability, Granted	77,580	51,871
Compensation Liability, Settled	(81,559)	(64,488)
Compensation Liability, Forfeited	(133)	(681)
Compensation Liability, Increase (Decrease) in fair value of underlying investments	7,353	(2,514)
Compensation Liability, Adjustment for estimated forfeitures	532	1,804
Compensation Liability, Other	579	913
Compensation Liability, Ending Balance	$ 174,740	$ 180,479

Incentive Plans - Summary of 80

Incentive Plans - Summary of Impact of LFI and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation [Abstract]
Amortization, net of forfeitures	$ 12,983	$ 20,899
Change in the fair value of underlying investments	7,353	(2,514)
Total	$ 20,336	$ 18,385

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Pension Plans [Member]
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 340	$ 307
Interest cost	3,981	5,213
Expected return on plan assets	(6,105)	(7,166)
Amortization of:
Prior service cost	30	590
Net actuarial loss (gain)	1,332	989
Net periodic benefit cost (credit)	$ (422)	(67)
Medical Plan [Member]
Components of Net Periodic Benefit Cost (Credit):
Service cost		4
Interest cost		45
Amortization of:
Net periodic benefit cost (credit)		$ 49

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jan. 01, 2017
Income Tax [Line Items]
Income tax provisions (benefits)	$ 21,995	$ 11,735
Effective income tax rates	14.40%	12.00%
U.S. federal statutory income tax rate	35.00%
Adjustments for New Accounting Principle [Member]
Income Tax [Line Items]
Income tax provisions (benefits)	$ 2,003
Deferred tax assets recorded for previously unrecognized excess tax benefits on share-based payment awards			$ 4,945
Deferred tax assets, valuation allowance			$ 12,090

Related Parties - Additional In

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Receivables from related party	$ 14,827		$ 28,702
Asset management fees	272,924	$ 233,731
Fees receivable	439,836		564,291
Lazard Ltd Subsidiaries [Member]
Related Party Transaction [Line Items]
Receivables from related party	2,837		20,365
Interest income related to interest-bearing loans	133	185
Notes payable related parties current and noncurrent	65,000		60,500
Interest expense related to interest-bearing loans with subsidiaries	944	867
Sponsored Funds [Member]
Related Party Transaction [Line Items]
Asset management fees	140,577	$ 118,910
Fees receivable	$ 52,867		$ 49,944

Regulatory Authorities - Additi

Regulatory Authorities - Additional Information (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
LFNY [Member]
Regulatory Requirements [Line Items]
Specified fixed percentage, minimum required capital	6.67%
Minimum net capital requirement as defined under exchange act	$ 100,000
Regulatory capital	79,663,000
Regulatory capital in excess of minimum requirement	$ 74,877,000
Aggregate indebtedness to net capital ratio	0.90
LFNY [Member] | Maximum [Member]
Regulatory Requirements [Line Items]
Aggregate indebtedness to net capital ratio	15
U.K. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	$ 128,206,000
Regulatory capital in excess of minimum requirement	112,123,000
CFLF [Member]
Regulatory Requirements [Line Items]
Regulatory capital	133,162,000
Regulatory capital in excess of minimum requirement	88,708,000
Combined European Regulated Group [Member]
Regulatory Requirements [Line Items]
Regulatory capital		$ 159,102,000
Regulatory capital in excess of minimum requirement		$ 84,949,000
Other U.S. and Non-U.S. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	120,725,000
Regulatory capital in excess of minimum requirement	$ 94,924,000

Segment Information - Segment's

Segment Information - Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net Revenue	$ 622,477	$ 497,604
Operating Expenses	469,465	399,557
Operating Income (Loss)	153,012	98,047
Total Assets	3,295,155		$ 3,515,984
Operating Segments [Member] | Financial Advisory Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue	335,684	266,014
Operating Expenses	259,362	227,078
Operating Income (Loss)	76,322	38,936
Total Assets	807,368		883,384
Operating Segments [Member] | Asset Management Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue	283,363	245,759
Operating Expenses	188,751	175,161
Operating Income (Loss)	94,612	70,598
Total Assets	572,915		645,653
Corporate [Member]
Segment Reporting Information [Line Items]
Net Revenue	3,430	(14,169)
Operating Expenses	21,352	(2,682)
Operating Income (Loss)	(17,922)	$ (11,487)
Total Assets	$ 1,914,872		$ 1,986,947