Lazard 10-K 23 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	333-126751
Entity Registrant Name	LAZARD GROUP LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0278097
Entity Address, Address Line One	30 Rockefeller Plaza
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10112
City Area Code	212
Local Phone Number	632-6000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Documents Incorporated by Reference	None.
Entity Central Index Key	0001326141
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Amendment Flag	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		0
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, New York USA
Subsidiaries of Lazard Ltd
Document Information [Line Items]
Common Unit, Outstanding	2			2	2
Subsidiaries of Lazard Ltd | Subsequent Event
Document Information [Line Items]
Common Unit, Outstanding		2

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2023		Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 966,168		$ 1,180,473
Deposits with banks and short-term investments	219,576		779,246
Restricted cash	34,091		625,381
Receivables (net of allowance for credit losses of $28,503 and $17,737 at December 31, 2023 and 2022, respectively):
Fees	560,552		491,861
Customers and other	201,767		160,898
Lazard Ltd subsidiaries	82,451		74,005
Receivables, net	844,770		726,764
Investments	701,964		698,977
Property (net of accumulated amortization and depreciation of $414,547 and $393,595 at December 31, 2023 and 2022, respectively, including $72,921 of property held for sale at December 31, 2023)	232,516		250,037
Operating lease right-of-use assets	406,428		430,665
Goodwill and other intangible assets (net of accumulated amortization of $67,681 and $67,621 at December 31, 2023 and 2022, respectively)	373,604		356,459
Deferred tax assets	52,225		37,601
Other assets	398,983		376,196
Total Assets	4,230,325		5,461,799
Liabilities:
Deposits and other customer payables	443,262		921,834
Accrued compensation and benefits	780,789		733,460
Operating lease liabilities	484,380		512,730
Senior debt	1,690,200		1,687,714
Payable to Lazard Ltd subsidiaries	19,334		20,189
Deferred tax liabilities	3,857		3,920
Other liabilities	538,363		531,968
Total Liabilities	3,960,185		4,411,815
Commitments and contingencies
Redeemable noncontrolling interests	87,675		583,471
MEMBERS’ EQUITY
Members' equity (net of 25,300,624 and 26,774,550 shares of Lazard Ltd Class A common stock, at a cost of $937,112 and $993,065 at December 31, 2023 and 2022, respectively)	410,311		638,956
Accumulated other comprehensive loss, net of tax	(274,431)		(280,587)
Total Lazard Group LLC Members' Equity	135,880		358,369
Noncontrolling interests	46,585		108,144
Total Members’ Equity	182,465	[1]	466,513	[2]
Total Liabilities, Redeemable Noncontrolling Interests and Members’ Equity	$ 4,230,325		$ 5,461,799
[1] (*) At December 31, 2023, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2022, in addition to profit participation interests, there were two managing member interests.

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Allowance for credit losses receivables	$ 28,503	$ 17,737
Property, accumulated amortization and depreciation	414,547	393,595
Property net	232,516	250,037
Other intangible assets, accumulated amortization	$ 67,681	$ 67,621
Lazard Ltd common stock, shares (in shares)	25,300,624,000	26,774,550,000
Lazard Ltd common stock, cost	$ 937,112	$ 993,065
Office Building
Property net	$ 72,921

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUE
Interest income	$ 41,435	$ 29,214	$ 5,609
Other	89,044	40,964	158,615
Total revenue	2,591,602	2,844,653	3,303,778
Interest expense	75,374	80,364	80,569
Net revenue	2,516,228	2,764,289	3,223,209
OPERATING EXPENSES
Compensation and benefits	1,939,840	1,647,811	1,884,859
Occupancy and equipment	130,696	121,624	127,395
Marketing and business development	99,273	82,914	42,705
Technology and information services	189,520	171,478	146,572
Professional services	82,968	66,929	75,337
Fund administration and outsourced services	110,878	109,978	130,501
Amortization and other acquisition-related costs	334	60	60
Other	72,903	42,694	45,117
Total operating expenses	2,626,412	2,243,488	2,452,546
OPERATING INCOME (LOSS)	(110,184)	520,801	770,663
Provision for income taxes	49,059	81,653	101,687
NET INCOME (LOSS)	(159,243)	439,148	668,976
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	18,173	34,966	14,481
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	(177,416)	404,182	654,495
Investment banking and other advisory fees
REVENUE
Revenue	1,383,370	1,648,520	1,784,932
Asset management fees
REVENUE
Revenue	$ 1,077,753	$ 1,125,955	$ 1,354,622

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (159,243)	$ 439,148	$ 668,976
Currency translation adjustments:
Currency translation adjustments before reclassification	30,720	(63,779)	(48,401)
Adjustment for items reclassified to earnings	2,413	32	(7,516)
Employee benefit plans:
Actuarial gain (loss) (net of tax expense (benefit) of $(7,657), $(5,437) and $11,912 for the years ended December 31, 2023, 2022 and 2021, respectively)	(24,459)	(11,955)	34,666
Prior service cost (net of tax benefit of $2,567 for the year ended December 31, 2023)	(7,751)	0	0
Adjustment for items reclassified to earnings (net of tax expense of $1,521, $994 and $1,609 for the years ended December 31, 2023, 2022 and 2021, respectively)	5,233	4,152	5,660
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	6,156	(71,550)	(15,591)
COMPREHENSIVE INCOME (LOSS)	(153,087)	367,598	653,385
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	18,173	34,966	14,481
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	$ (171,260)	$ 332,632	$ 638,904

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	$ (7,657)	$ (5,437)	$ 11,912
Tax benefit on prior service credit	2,567
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 1,521	$ 994	$ 1,609

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (159,243)	$ 439,148	$ 668,976
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property	42,847	42,037	38,014
Noncash lease expense	63,376	60,420	73,865
Currency translation adjustment reclassification	2,413	32	(7,516)
Amortization of deferred expenses and share-based incentive compensation	428,592	405,125	393,056
Amortization and other acquisition-related costs	334	60	60
Deferred tax provision (benefit)	(6,972)	3,795	5,858
Impairment of equity method investments and other receivables	22,981	0	0
Impairment of assets associated with cost-saving initiatives	8,801	0	0
Loss on LGAC liquidation	17,929	0	0
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Receivables-net	(108,945)	125,522	(8,718)
Investments	(145,010)	178,025	(458,593)
Other assets	(50,707)	(46,588)	(26,826)
Accrued compensation and benefits and other liabilities	54,232	(373,318)	241,841
Net cash provided by operating activities	170,628	834,258	920,017
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(28,297)	(49,509)	(39,698)
Disposals of property	461	573	641
Acquisition of business, net of cash acquired	(10,516)	0	0
Other investing activities	0	(7,500)	0
Net cash used in investing activities	(38,352)	(56,436)	(39,057)
Proceeds from:
Customer deposits, net	0	0	350,868
LGAC IPO	0	0	575,000
Contributions from members	0	0	14,000
Contributions from noncontrolling interests	1,627	464	334
Other financing activities	450	50	0
Payments for:
Customer deposits, net	(572,025)	(373,044)	0
Distributions to noncontrolling interests	(5,792)	(31,911)	(11,328)
LGAC IPO underwriting fees and other offering costs	0	0	(9,352)
Purchase of Class A common stock	(102,051)	(691,705)	(406,149)
Distribution to redeemable noncontrolling interests in connection with LGAC redemption	(585,891)	0	0
Distribution to members	(161,984)	(228,045)	(233,234)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements	(54,528)	(61,916)	(68,012)
LFI Consolidated Funds redemptions	(35,238)	(10,020)	(20,915)
Other financing activities	(12,462)	(11,035)	(8,450)
Net cash provided by (used in) financing activities	(1,527,894)	(1,407,162)	182,762
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	30,353	(186,128)	(161,817)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(1,365,265)	(815,468)	901,905
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1	2,585,100	3,400,568	2,498,663
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— December 31	$ 1,219,835	$ 2,585,100	$ 3,400,568

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION:
Cash and cash equivalents	$ 966,168	$ 1,180,473	$ 1,435,576
Deposits with banks and short-term investments	219,576	779,246	1,347,544
Restricted cash	34,091	625,381	617,448
TOTAL CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	1,219,835	2,585,100	3,400,568
Cash paid during the year for:
Interest	72,157	77,024	77,861
Income taxes, net of refunds	$ 43,810	$ 133,381	$ 73,516

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($) $ in Thousands		Total	Members' Equity	Accumulated Other Comprehensive Income (Loss), Net of Tax	Total Lazard Group Members’ Equity	Noncontrolling Interests	Redeemable Noncontrolling Interests
Balance at the beginning at Dec. 31, 2020		$ 710,869	$ 818,430	$ (193,446)	$ 624,984	$ 85,885	$ 0
Comprehensive income (loss):
Net income (loss)		672,641	654,495		654,495	18,146	(3,665)
Other comprehensive income (loss) - net of tax		(15,591)		(15,591)	(15,591)
Amortization of share-based incentive compensation		233,958	233,958		233,958
Distributions to members and noncontrolling interests, net		(244,228)	(233,234)		(233,234)	(10,994)
Purchase of Class A common stock		(406,149)	(406,149)		(406,149)
Delivery of Class A common stock in connection with share-based incentive compensation and related tax expense (benefit)		(68,051)	(68,051)		(68,051)
Contribution from members		14,000	14,000		14,000
LFI Consolidated Funds		18,832				18,832
Change in redemption value of redeemable noncontrolling interests		(43,919)	(30,749)		(30,749)	(13,170)	43,919
Transfer of Class A common stock to Lazard Ltd Subsidiaries		10,536	10,536		10,536
Contribution from redeemable noncontrolling interests, net							534,746
Other		(8,432)	(8,429)		(8,429)	(3)
Balance at the end at Dec. 31, 2021	[1]	874,466	984,807	(209,037)	775,770	98,696	575,000
Comprehensive income (loss):
Net income (loss)		425,136	404,182		404,182	20,954	14,012
Other comprehensive income (loss) - net of tax		(71,550)		(71,550)	(71,550)
Amortization of share-based incentive compensation		240,641	240,641		240,641
Distributions to members and noncontrolling interests, net		(259,492)	(228,045)		(228,045)	(31,447)
Purchase of Class A common stock		(691,705)	(691,705)		(691,705)
Delivery of Class A common stock in connection with share-based incentive compensation and related tax expense (benefit)		(61,820)	(61,820)		(61,820)
LFI Consolidated Funds		18,279				18,279
Change in redemption value of redeemable noncontrolling interests		5,541	3,879		3,879	1,662	(5,541)
Dividend-equivalents		(10,872)	(10,872)		(10,872)
Other		(2,111)	(2,111)		(2,111)
Balance at the end at Dec. 31, 2022	[2]	466,513	638,956	(280,587)	358,369	108,144	583,471
Comprehensive income (loss):
Net income (loss)		(171,224)	(177,416)		(177,416)	6,192	11,981
Other comprehensive income (loss) - net of tax		6,156		6,156	6,156
Amortization of share-based incentive compensation		250,570	250,570		250,570
Distributions to members and noncontrolling interests, net		(166,149)	(161,984)		(161,984)	(4,165)
Purchase of Class A common stock		(102,051)	(102,051)		(102,051)
Delivery of Class A common stock in connection with share-based incentive compensation and related tax expense (benefit)		(54,519)	(54,519)		(54,519)
Class A common stock issuable		1,775	1,775		1,775
LFI Consolidated Funds		(74,164)				(74,164)	77,525
Change in redemption value of redeemable noncontrolling interests		(589)	(412)		(412)	(177)	589
Distribution to redeemable noncontrolling interests							(585,891)
Reversal to net loss of amounts previously charged to members' equity and noncontrolling interests		17,929	13,195		13,195	4,734
Reversal of deferred offering costs liability		20,125	14,087		14,087	6,038
Dividend-equivalents		(11,600)	(11,600)		(11,600)
Other		(307)	(290)		(290)	(17)
Balance at the end at Dec. 31, 2023	[3]	$ 182,465	$ 410,311	$ (274,431)	$ 135,880	$ 46,585	$ 87,675
[1] (*) At December 31, 2021, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2022, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2023, in addition to profit participation interests, there were two managing member interests.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax expense (benefit) related to delivery of Class A common stock in connection with share-based incentive compensation	$ (9)	$ (96)	$ 39
Subsidiaries of Lazard Ltd
Managing member interests (in shares)	2	2	2

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	ORGANIZATION AND BASIS OF PRESENTATION Organization The accompanying consolidated financial statements are those of Lazard Group LLC and its subsidiaries (collectively referred to as “Lazard Group”, “we” or the “Company”). Lazard Group is a Delaware limited liability company, which as of December 31, 2022 was governed by an Amended and Restated Operating Agreement dated as of February 4, 2019. Such operating agreement was subsequently amended and restated effective as of January 1, 2023 (as so amended and restated, 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 that specializes in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, governments, institutions, partnerships and individuals. Lazard Ltd indirectly held 100% of all outstanding Lazard Group common membership interests as of December 31, 2023 and 2022. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group. On January 1, 2024, Lazard Ltd completed its conversion (the “Conversion”) from an exempted company incorporated under the laws of Bermuda named Lazard Ltd to a U.S. C-Corporation named Lazard, Inc. Lazard Group’s principal operating activities are included in two business segments: • Financial Advisory, which offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a wide array of financial advisory services regarding strategic and mergers and acquisitions (“M&A”) advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory matters and capital raising and placement, and • Asset Management, which offers a broad range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. In addition, we record selected other activities in our Corporate segment, including management of cash, investments, outstanding indebtedness, and certain assets and liabilities associated with a special purpose acquisition company that was sponsored by an affiliate of the Company, Lazard Growth Acquisition Corp. I (“LGAC”). Basis of Presentation The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates: • Voting interest entities (“VOEs”) where the Company holds a majority of the voting interest in such VOEs, and • Variable interest entities (“VIEs”) where the Company is the primary beneficiary having the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of, or receive benefits from, the VIE that could be potentially significant to the VIE (see Note 23). When the Company does not have a controlling interest in an entity, but exerts significant influence over such entity’s operating and financial decisions, the Company either (i) applies the equity method of accounting in which it records a proportionate share of the entity’s net earnings or losses or (ii) elects the option to measure its investment at fair value. Intercompany transactions and balances have been eliminated. The consolidated financial statements include Lazard Group and Lazard Group’s principal operating subsidiaries: Lazard Frères & Co. LLC (“LFNY”), a New York limited liability company, along with its subsidiaries, including Lazard Asset Management LLC and its subsidiaries (collectively referred to as “LAM”); the French limited liability companies Compagnie Financière Lazard Frères SAS (“CFLF”), along with its subsidiaries, Lazard Frères Banque SA (“LFB”) and Lazard Frères Gestion SAS (“LFG”), and Maison Lazard SAS and its subsidiaries; and Lazard & Co., Limited (“LCL”), through Lazard & Co., Holdings Limited (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries. Lazard Growth Acquisition Corp. I In February 2021, LGAC consummated its $575,000 initial public offering (the “LGAC IPO”). LGAC was a special purpose acquisition company, that was incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). LGACo 1 LLC, a Delaware series limited liability company and the Company’s subsidiary, was the sponsor of LGAC. LGAC was considered to be a VIE. The Company held a controlling financial interest in LGAC through the sponsor’s ownership of Class B founder shares of LGAC. As a result, both LGAC and the sponsor were consolidated in the Company’s financial statements. The proceeds from the LGAC IPO of $575,000 were held in a trust account, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds in the trust account to the LGAC shareholders in connection with the redemption of LGAC’s Class A ordinary shares, subject to certain conditions. The cash held in the trust account was recorded in “restricted cash” on the consolidated statements of financial condition as of December 31, 2022. Transaction costs, which consisted of a net underwriting fee of $8,500, $20,125 of non-cash deferred underwriting fees (included in “other liabilities” on the consolidated statements of financial condition as of December 31, 2022) and $852 of other offering costs, were charged against the gross proceeds of the LGAC IPO. “Redeemable noncontrolling interests” of $583,471 associated with the publicly held LGAC Class A ordinary shares were recorded on the Company’s consolidated statements of financial condition as of December 31, 2022 at redemption value and classified as temporary equity. Changes in redemption value were recognized immediately as they occurred and adjusted the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable noncontrolling interests were affected by credits or charges to members’ equity and noncontrolling interests attributable to certain members of LGACo 1 LLC based on pro rata ownership. The warrants exercisable for LGAC Class A ordinary shares that were issued in connection with the LGAC IPO (the “LGAC Warrants”) met the definition of a liability under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 815 and were classified as derivative liabilities which were remeasured at fair value at each balance sheet date until exercised or cancelled, with changes in fair value reported to earnings. See Note 8.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES The accounting policies below relate to reported amounts and disclosures in the consolidated financial statements. Foreign Currency— The consolidated financial statements are presented in U.S. Dollars. Many of the Company’s non-U.S. subsidiaries have a functional currency ( i.e. , the currency in which operational activities are primarily conducted) that is other than the U.S. Dollar, generally the currency of the country in which such subsidiaries are domiciled. Such subsidiaries’ assets and liabilities are translated into U.S. Dollars at year-end exchange rates, while revenue and expenses are translated at average exchange rates during the year based on the daily closing exchange rates. Adjustments that result from translating amounts from a subsidiary’s functional currency to U.S. Dollars are reported in “accumulated other comprehensive income (loss), net of tax” (“AOCI”). Foreign currency remeasurement gains and losses on transactions in non-functional currencies are included on the consolidated statements of operations. Foreign currency remeasurement gains (losses), net of gains and losses from forward foreign currency exchange rate contracts (see Note 8) amounted to $(5,531), $778 and $(952) for the years ended December 31, 2023, 2022 and 2021, respectively, and are included in “revenue-other” on the respective consolidated statements of operations. Use of Estimates— The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of management’s estimates. In preparing the consolidated financial statements, management makes estimates and assumptions regarding: • valuations of assets and liabilities requiring fair value estimates including, but not limited to, investments, derivatives and assumptions used to value pension and other post-retirement plans; • the assessment of probability with respect to recognizing revenue; • the discount rate used to measure operating lease right-of-use assets and operating lease liabilities; • the adequacy of the allowance for credit losses; • the realization of deferred tax assets and adequacy of tax reserves for uncertain tax positions; • the outcome of litigation; • the carrying amount of goodwill and other intangible assets; • the vesting of share-based and other deferred compensation plan awards; and • other matters that affect the reported amounts and disclosure of contingencies in the consolidated financial statements. Estimates, by their nature, are based on judgment and available information. Therefore, actual results could differ from those estimates and could have a material impact on the consolidated financial statements. Cash and Cash Equivalents— The Company defines cash equivalents as short-term, highly liquid securities and cash deposits with original maturities of 90 days or less when purchased. Deposits with Banks and Short-Term Investments— Represents LFB’s short-term deposits, including with the Banque de France and amounts placed by LFB in short-term, highly liquid securities with original maturities of 90 days or less when purchased. The level of these deposits and investments may be driven by the level of LFB demand deposits (which can fluctuate significantly on a daily basis) and by changes in asset allocation. Restricted Cash— Primarily represents LGAC restricted cash (see Note 1) in 2022, escrowed cash balances that the Company cannot access prior to meeting certain requirements and other restricted cash deposits made by the Company, including those to satisfy the requirements of clearing organizations. Receivables and Allowance for Credit Losses— The Company’s receivables represent fee receivables, amounts due from customers and other receivables. The fee receivables are generally due within 60 days from the date of invoice, except as related to certain restructuring services and certain capital raising activities where fees are due upon specified contractual payment terms. For customer loans within customers and other receivables, the Company has elected to apply the practical expedient, in accordance with the current expected credit losses (“CECL”) guidance for financial assets with collateral maintenance provisions, which generally results in no expected credit losses given that these loans are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans. Receivables are stated net of an estimated allowance for credit losses determined in accordance with the CECL model, for general credit risk of the overall portfolio and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. For fee receivables, the allowance for credit losses is determined together for all Financial Advisory fees, except for Private Capital Advisory given the different nature of the business, client composition, and risk characteristics. An allowance for credit losses is determined separately for Private Capital Advisory. In addition, a separate allowance for credit losses is determined for all Asset Management fees. The allowances are measured by the application of an average charge-off rate, determined annually based on historical bad debt charge-off experience, to the fee receivable balance of the respective services, adjusted for the specific allowance recognized based on current conditions of individual clients. The current conditions are considered on a quarterly basis and include the aging of the receivables, the client’s ability to make payments, and the Company’s relationship with the client. In addition, the Company also performs a qualitative assessment on a quarterly basis to monitor economic factors and other uncertainties that may require additional adjustment to the expected credit losses allowance. Financial Advisory and Asset Management fee receivables are generally deemed past due when they are outstanding 60 days from the date of invoice, except for certain transactions that include specific contractual payment terms that may vary from approximately one month to four years following the invoice date (as is the case for certain Private Capital Advisory fees) or may be subject to court approval (as is the case with Restructuring activities that include bankruptcy proceedings). In such cases, receivables are deemed past due when payment is not received by the agreed-upon contractual date or the court approval date, respectively. Financial Advisory and Asset Management fee receivables past due in excess of 180 days and 10 months, respectively, are generally fully provided for unless there is evidence that the balance is collectible. Notwithstanding our policy for receivables past due, any specific receivables that are deemed uncollectible result in specific reserves against such exposures. See Note 5 for additional information regarding the Company’s receivables and allowance for credit losses. Investments— Investments in debt and marketable equity securities held either directly, or indirectly through asset management funds are accounted for at fair value, with any increase or decrease in fair value recorded in earnings. Such amounts are reflected in “revenue-other” in the consolidated statements of operations. Investments also include interests in alternative investment funds and private equity funds, each accounted for at fair value, and investments accounted for under the equity method of accounting. Any increases or decreases in the carrying value of the investments accounted for at fair value and the Company’s share of net income or losses pertaining to its equity method investments are reflected in “revenue-other” in the consolidated statements of operations. Additionally, equity method investments are tested for impairment if circumstances indicate impairment may have occurred. Impairment charges are reflected in “revenue-other” in the consolidated statements of operations. Dividend income is reflected in “revenue-other” in the consolidated statements of operations. Securities transactions and the related revenue and expenses are recorded on a “trade date” basis. See Notes 6 and 7 for additional information regarding the Company’s investments. Property-net— Property is stated at cost less accumulated depreciation and amortization. Buildings are depreciated on a straight-line basis over their estimated useful lives. Leasehold improvements are capitalized and are amortized over the lesser of the economic useful life of the improvement or the term of the lease. Depreciation of furniture and equipment, including computer hardware and software, is determined on a straight-line basis using estimated useful lives. Depreciation and amortization expenses aggregating $42,847, $42,037 and $38,014 for the years ended December 31, 2023, 2022 and 2021, respectively, are included on the consolidated statements of operations in “occupancy and equipment” or “technology and information services”, depending on the nature of the underlying asset. Repairs and maintenance are expensed as incurred. Operating Lease Right-of-use Assets and Operating Lease Liabilities— The Company determines if an arrangement is, or contains, a lease at its inception and reevaluates the arrangement if the terms are modified. Operating lease right-of-use assets (“ROU assets”) represent the right to use an underlying asset for the lease term and operating lease liabilities reflect the obligation to make lease payments arising from the lease. At any given time during the lease term, the operating lease liability represents the present value of the remaining lease payments and the operating lease ROU asset is measured at the amount of the lease liability, adjusted for rent prepayments, unamortized initial direct costs and the remaining balance of lease incentives received. Both the operating lease ROU asset and the operating lease liability are reduced to zero at the end of the lease. See Note 10 for additional information regarding the Company’s ROU assets and operating lease liabilities. Goodwill and Other Intangible Assets— Goodwill has an indefinite life and is tested for impairment annually, as of November 1, or more frequently if circumstances indicate impairment may have occurred. The Company performs a qualitative assessment about whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount in lieu of actually calculating the fair value of the reporting unit. If events indicate that it is more likely than not that a reporting unit’s fair value is less than its carrying value, the Company performs a quantitative assessment to determine the fair value of the reporting unit and compares it to its carrying value. If the carrying value of a reporting unit exceeds its fair value, the Company would recognize an impairment loss equal to the excess. Intangible assets that are not deemed to have an indefinite life are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The pattern of amortization reflects the timing of the realization of the economic benefits of such intangible assets. For acquired customer contracts, the period of realization is deemed to be the period when the related revenue is recognized. The impairment analysis is performed by comparing the carrying value of the intangible asset being reviewed for impairment to the current and expected future cash flows expected to be generated from such asset on an undiscounted basis, including eventual disposition. An impairment loss would be measured for the amount by which the carrying amount of the intangible asset exceeds its fair value. See Note 11 with respect to goodwill and other intangible assets. Derivative Instruments— A derivative is typically defined as a financial instrument whose value is “derived” from underlying assets, indices or reference rates, such as a future, forward, swap, warrant or option contract, or other financial instrument with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount ( e.g. , interest rate swaps or currency forwards) or to purchase or sell other financial instruments at specified terms on a specified date ( e.g. , options to buy or sell securities or currencies). 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, in which case the Company would net the applicable assets and liabilities and related receivable and payable for net cash collateral under such contracts. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the consolidated statements of financial condition. Gains and losses on the Company’s derivative instruments are generally included in “interest income” and “interest expense” or “revenue-other”, depending on the nature of the underlying item, in the consolidated statements of operations. In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests (“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 consolidated statements of financial condition. Changes in the fair value of the derivative liabilities are included in “compensation and benefits” in the 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 consolidated statements of operations. For information regarding LFI and other similar deferred compensation arrangements, see Notes 6, 8 and 16. For information regarding LGAC Warrants that are accounted for as derivative liabilities, see Notes 1 and 8. Deposits and Other Customer Payables— Principally consists of LFB customer-related demand deposits. Securities Sold, Not Yet Purchased— Securities sold, not yet purchased represents liabilities for securities sold for which payment has been received and the obligations to deliver such securities are included within “other liabilities” in the consolidated statements of financial condition. These securities are accounted for at fair value, with any increase or decrease in fair value recorded in earnings in accordance with standard securities industry practices. Such gains and losses are reflected in “revenue-other” in the consolidated statements of operations . Fair Value of Financial Assets and Liabilities— The majority of the Company’s financial assets and liabilities are recorded at fair value or at amounts that approximate fair value. Such assets and liabilities include cash and cash equivalents, deposits with banks and short-term investments, restricted cash, receivables, investments (excluding investments accounted for under the equity method of accounting), derivative instruments, deposits and other customer payables. Redeemable Noncontrolling Interests— See Notes 15 and 23 for information regarding consolidated VIE interests held by employees and Note 1 for information regarding interests in LGAC classified as temporary equity. Investment Banking and Other Advisory Fees — Fees for Financial Advisory services are recorded when: (i) a contract with a client has been identified, (ii) the performance obligations in the contract have been identified, (iii) the fee or other transaction price has been determined, (iv) the fee or other transaction price has been allocated to each performance obligation in the contract, and (v) the Company has satisfied the applicable performance obligation. The expenses that are directly related to such transactions are recorded as incurred and presented within operating expenses when the Company is primarily responsible for fulfilling the promise of the arrangement. Revenues associated with the reimbursement of such expenses are recorded when the Company is contractually entitled to reimbursement and presented within investment banking and other advisory fees. Asset Management Fees —Fees for Asset Management services are primarily comprised of management fees and incentive fees. Management fees are derived from fees for investment management and other services provided to clients. Revenue is recorded in accordance with the same five criteria as Financial Advisory fees, which generally results in management fees being recorded on a daily, monthly or quarterly basis, primarily based on a percentage of client assets managed. Fees vary with the type of assets managed, with higher fees earned on equity assets, alternative investment (such as hedge fund) and private equity funds, and lower fees earned on fixed income and money market products. Expenses that are directly related to the sale or distribution of fund interests are recorded as incurred and presented within operating expenses when the Company is primarily responsible for fulfilling the promise of the arrangement. Revenues associated with the reimbursement of such expenses are recorded when the Company is contractually entitled to reimbursement and presented within asset management fees. In addition, the Company earns performance-based incentive fees on various investment products, including traditional products and alternative investment funds such as hedge funds and private equity funds. For hedge funds, incentive fees are calculated based on a specific percentage of a fund’s net appreciation, in some cases in excess of established benchmarks or thresholds. The Company records incentive fees on traditional products and hedge funds when a significant reversal in the amount of the cumulative revenue to be recognized is not probable, which is typically at the end of the relevant performance measurement period. The incentive fee measurement period is generally an annual period (unless an account is terminated during the year). The incentive fees received at the end of the measurement period are not subject to reversal or clawback. Incentive fees on hedge funds generally are subject to loss carryforward provisions in which losses incurred by the hedge funds in any year are applied against certain gains realized by the hedge funds in future periods before any incentive fees can be earned. For private equity funds, incentive fees may be earned in the form of a “carried interest” if profits arising from realized investments exceed a specified threshold. Typically, such carried interest is ultimately calculated on a whole-fund or investment by investment basis and, therefore, clawback of carried interest toward the end of the life of the fund can occur. As a result, the Company recognizes incentive fees earned on our private equity funds only when it is probable that a clawback will not occur. Receivables relating to asset management and incentive fees are reported in “fees receivable” on the consolidated statements of financial condition. Equity-Based Incentive Compensation Awards— Equity-based incentive compensation awards that do not require future service are expensed immediately. Equity-based compensation awards that require future service are expensed over the applicable requisite service period, based on the grant date fair value of the award. Compensation expense recognized for equity-based incentive compensation is determined based on the number of awards that in the Company’s estimate are considered probable of vesting (including as a result of any applicable performance conditions). Equity-based incentive compensation is primarily recognized in “compensation and benefits” expense. Income Taxes— Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Such temporary differences are reflected as “deferred tax assets” and “deferred tax liabilities” on the consolidated statements of financial condition. A deferred tax asset is recognized if it is more likely than not (defined as a likelihood of greater than 50%) that a tax benefit will be accepted by the relevant taxing authority. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized and, when necessary, a valuation allowance is established. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the following possible sources of taxable income when assessing the realization of deferred tax assets: • future reversals of existing taxable temporary differences; • future taxable income exclusive of reversing temporary differences and carryforwards; • taxable income in prior carryback years; and • tax-planning strategies. The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available information, including the following: • nature, frequency, magnitude and duration of any past losses and current operating results; • duration of statutory carryforward periods; • historical experience with tax attributes expiring unused; and • near-term and medium-term financial outlook. The Company records tax positions taken or expected to be taken in a tax return based upon the Company’s estimates regarding the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits in “provision for income taxes”. See Note 19 for additional information relating to income taxes.

Recent Accounting Developments

Recent Accounting Developments	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Recent Accounting Developments	RECENT ACCOUNTING DEVELOPMENTS Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures —In November 2023, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about reportable segment’s expenses. The amendments include new annual and interim disclosure requirements primarily related to significant segment expenses, reportable segments’ profit or loss, and information on the chief operating decision maker. The new guidance is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments shall be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the new guidance. Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2023
Revenue Recognition [Abstract]
Revenue Recognition	REVENUE RECOGNITION The Company disaggregates revenue based on its business segment results and believes that the following information provides a reasonable representation of how performance obligations relate to the nature, amount, timing and uncertainty of revenue and cash flows: Year Ended December 31, 2023 2022 2021 Net Revenue: Financial Advisory (a) $ 1,384,341 $ 1,655,596 $ 1,794,132 Asset Management: Management fees and other (b) $ 1,121,950 $ 1,137,583 $ 1,304,582 Incentive fees (c) 29,546 67,344 120,403 Total Asset Management $ 1,151,496 $ 1,204,927 $ 1,424,985 ________________________ (a) Financial Advisory is comprised of a wide array of financial advisory services regarding M&A advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory and capital raising and placement work for clients. The benefits of these advisory services are generally transferred to the Company’s clients over time, and consideration for these advisory services typically includes transaction completion, transaction announcement and retainer fees. Retainer fees are generally fixed and recognized over the period in which the advisory services are performed. However, transaction announcement and transaction completion fees are variable and subject to constraints, and they are typically not recognized until there is an announcement date or a completion date, respectively, due to the uncertainty associated with those events. Therefore, in any given period, advisory fees recognized for certain transactions may relate to services performed in prior periods. The advisory fees that may be unrecognized as of the end of a reporting period, primarily comprised of fees associated with transaction announcements and transaction completions, generally remain unrecognized due to the uncertainty associated with those events. (b) Management fees and other is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services generally includes management fees, which are based on assets under management and recognized over the period in which the management services are performed. The selling or distribution of fund interests is a separate performance obligation within management fees and other, and the benefits of such services are transferred to the Company’s clients at the point in time that such fund interests are sold or distributed. (c) Incentive fees is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services is generally variable and includes performance or incentive fees. The fees allocated to these management services that are unrecognized as of the end of the reporting period are generally amounts that are subject to constraints due to the uncertainty associated with performance targets and clawbacks. In addition to the above, contracts with clients include trade-based commission income, which is recognized at the point in time of execution and presented within other revenue. Such income may be earned by providing trade facilitation, execution, clearance and settlement, custody, and trade administration services to clients. With regard to the disclosure requirement for remaining performance obligations, the Company elected the practical expedients permitted in the guidance to (i) exclude contracts with a duration of one year or less; and (ii) exclude variable consideration, such as transaction completion and transaction announcement fees, that is allocated entirely to unsatisfied performance obligations. Excluded variable consideration typically relates to contracts with a duration of one year or less, and is generally constrained due to uncertainties. Therefore, when applying the practical expedients, amounts related to remaining performance obligations are not material to the Company’s consolidated financial statements.

Receivables and Allowance for C

Receivables and Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Receivables and Allowance for Credit Losses	RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES The Company’s receivables represent fee receivables, amounts due from customers and other receivables and amounts due from Lazard Ltd subsidiaries. Where applicable, receivables are stated net of an estimated allowance for credit losses determined in accordance with the CECL model. Of the Company’s fee receivables at December 31, 2023 and 2022, $113,929 and $97,964, respectively, represented financing receivables for our Private Capital Advisory fees. At December 31, 2023 and 2022, customers and other receivables included $86,412 and $128,890, respectively, of customer loans, which are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of both December 31, 2023 and 2022. The aggregate carrying amount of other fees and customers and other receivables and amounts due from Lazard Ltd subsidiaries was $644,429 and $499,910 at December 31, 2023 and 2022, respectively. Activity in the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021 was as follows: Year Ended December 31, 2023 2022 2021 Beginning Balance $ 17,737 $ 33,955 $ 36,649 Bad debt expense, net of reversals 20,875 1,769 3,805 Charge-offs, foreign currency translation and other adjustments (10,109) (17,987) (6,499) Ending Balance $ 28,503 $ 17,737 $ 33,955 Bad debt expense, net of reversals represents the current period provision of expected credit losses and is included in “operating expenses–other” on the consolidated statements of operations. The allowance for credit losses is substantially all related to Financial Advisory fee receivables and other receivables.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS The Company’s investments consist of the following at December 31, 2023 and 2022: December 31, 2023 2022 Debt $ 4,285 $ – Equities 54,717 43,889 Funds: Alternative investments (a) 61,680 56,947 Debt (a) 191,325 178,556 Equity (a) 343,139 350,282 Private equity 46,818 53,822 642,962 639,607 Investments, at fair value 701,964 683,496 Equity method investments – 15,481 Total investments $ 701,964 $ 698,977 _______________________ (a) Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 23), with fair values of $27,454, $175,449 and $284,099, respectively, at December 31, 2023 and $24,137, $142,632 and $266,528, respectively, at December 31, 2022, held in order to satisfy the Company’s obligation upon vesting of previously granted LFI and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 8 and 16). Debt primarily consists of investments in government securities held within separately managed accounts in order to seed strategies in our Asset Management business. Equities primarily consist of investments in marketable equity securities of large-, mid- and small-cap domestic, international and global companies held within separately managed accounts in order to seed strategies in our Asset Management business. Alternative investment funds primarily consist of interests in various Lazard-managed hedge funds, funds of funds and mutual funds. Such amounts primarily consist of investments in funds in order to seed strategies in our Asset Management business, and amounts related to LFI discussed above. Debt funds primarily consist of investments in debt securities in order to seed strategies in our Asset Management business, amounts related to LFI discussed above and an investment in a Lazard-managed debt fund. Equity funds primarily consist of investments in equity securities in order to seed strategies in our Asset Management business, and amounts related to LFI discussed above. Private equity investments include those owned by Lazard and those consolidated but not owned by Lazard. Private equity investments owned by Lazard are primarily comprised of investments in private equity funds. Such investments primarily include (i) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a fund primarily making equity and buyout investments in middle market companies, (ii) a fund targeting significant noncontrolling-stake investments in established private companies and (iii) a seed investment in a fund that invests in sustainable private infrastructure opportunities. Private equity investments consolidated but not owned by Lazard relate to the economic interests that are owned by the management team and other investors in the Edgewater Funds (“Edgewater”). Equity method investments represent certain partnership interests accounted for under the equity method of accounting. During the years ended December 31, 2023, 2022 and 2021, the Company reported in “revenue-other” on its consolidated statements of operations net unrealized investment gains and losses pertaining to equity securities and trading debt securities still held as of the reporting date as follows: Year Ended December 31, 2023 2022 2021 Net unrealized investment gains (losses) $ 54,228 $ (92,793) $ 14,154

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair Value Hierarchy of Investments and Certain Other Assets and Liabilities —Lazard categorizes its investments and certain other assets and liabilities recorded at fair value into a three-level fair value hierarchy as follows: Level 1. Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that Lazard has the ability to access. Level 2. Assets and liabilities whose values are based on (i) quoted prices for similar assets or liabilities in an active market, or quoted prices for identical or similar assets or liabilities in non-active markets, or (ii) inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data. Level 3. Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis. The fair value of debt is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets. 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 interests in private companies are generally classified as Level 3. The fair value of investments in alternative investment funds, debt funds and equity funds is classified as Level 1 when the fair values are based on the publicly reported closing price for the fund, or Level 2 when based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. The fair value of investments in certain private equity funds is classified as Level 3 for (i) certain investments that are valued based on the potential transaction value and (ii) when the acquisition price is considered the best measure of fair value. The fair value of securities sold, not yet purchased, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets. The fair value of the contingent consideration liability is classified as Level 3. The contingent consideration liability is initially recorded at fair value on the acquisition date and is included in “other liabilities” on the consolidated statements of financial condition. The fair value of the contingent consideration liability is remeasured at each reporting period. The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods. Any change in the fair value is recognized in “amortization and other acquisition-related costs” in the consolidated statements of operations. Our business acquisitions may involve the potential payment of contingent consideration upon the achievement of certain performance thresholds. The fair value of derivatives classified as Level 1 is based on the listed market price of such instruments. The fair value of derivatives classified as Level 2 is based on the values of the related underlying assets, indices or reference rates as follows: the fair value of forward foreign currency exchange rate contracts is a function of the spot rate and the interest rate differential of the two currencies from the trade date to settlement date; the fair value of total return swaps is based on the change in fair value of the related underlying equity security, financial instrument or index and a specified notional holding; the fair value of interest rate swaps is based on the interest rate yield curve; and the fair value of derivative liabilities related to LFI and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. The fair value of derivatives classified as Level 3 is based on a Black-Scholes valuation model that utilizes both observable and unobservable inputs. Unobservable inputs include model adjustments for valuation uncertainty. See Note 8. Investments Measured at Net Asset Value (“NAV”) —As a practical expedient, the Company uses NAV or its equivalent to measure the fair value of certain investments. NAV is primarily determined based on information provided by external fund administrators. The Company’s investments valued at NAV as a practical expedient in (i) alternative investment funds, debt funds and equity funds are redeemable in the near term, and (ii) private equity funds are not redeemable in the near term as a result of redemption restrictions. The following tables present, as of December 31, 2023 and 2022, 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: December 31, 2023 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Debt $ 4,285 $ – $ – $ – $ 4,285 Equities 54,224 – 493 – 54,717 Funds: Alternative investments 15,676 – – 46,004 61,680 Debt 180,907 10,413 – 5 191,325 Equity 343,094 – – 45 343,139 Private equity – – 273 46,545 46,818 Derivatives – 2,789 – – 2,789 Total $ 598,186 $ 13,202 $ 766 $ 92,599 $ 704,753 Liabilities: Securities sold, not yet purchased $ 4,809 $ – $ – $ – $ 4,809 Contingent consideration liability – – 6,583 – 6,583 Derivatives – 368,673 – – 368,673 Total $ 4,809 $ 368,673 $ 6,583 $ – $ 380,065 December 31, 2022 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Equities $ 43,243 $ – $ 646 $ – $ 43,889 Funds: Alternative investments 27,073 – – 29,874 56,947 Debt 178,552 – – 4 178,556 Equity 350,242 – – 40 350,282 Private equity – – 18,772 35,050 53,822 Derivatives – 14,554 – – 14,554 Total $ 599,110 $ 14,554 $ 19,418 $ 64,968 $ 698,050 Liabilities: Securities sold, not yet purchased $ 4,651 $ – $ – $ – $ 4,651 Derivatives 115 327,045 – – 327,160 Total $ 4,766 $ 327,045 $ – $ – $ 331,811 The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equities $ 646 $ 54 $ – $ (281) $ 74 $ 493 Private equity funds 18,772 – – (18,508) 9 273 Total Level 3 assets $ 19,418 $ 54 $ – $ (18,789) $ 83 $ 766 Liabilities: Contingent consideration $ – $ 274 $ 7,754 $ (1,445) $ – $ 6,583 Total Level 3 liabilities $ – $ 274 $ 7,754 $ (1,445) $ – $ 6,583 Year Ended December 31, 2022 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equities $ 578 $ 99 $ – $ – $ (31) $ 646 Private equity funds 293 – 18,000 (13) 492 18,772 Total Level 3 assets $ 871 $ 99 $ 18,000 $ (13) $ 461 $ 19,418 Year Ended December 31, 2021 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equities $ 1,671 $ (796) $ – $ (235) $ (62) $ 578 Private equity funds 1,486 951 – (2,121) (23) 293 Total Level 3 assets $ 3,157 $ 155 $ – $ (2,356) $ (85) $ 871 Liabilities: Derivatives $ – $ – $ 11,500 $ (11,500) $ – $ – Total Level 3 liabilities $ – $ – $ 11,500 $ (11,500) $ – $ – _____________________ (a) Earnings recorded in “ other revenue amortization and other acquisition-related costs (b) Transfers out of Level 3 private equity funds during the years ended December 31, 2023 and 2021 reflect investments valued at NAV as of December 31, 2023 and 2021. Transfers out of Level 3 derivatives during the year ended December 31, 2021 reflected transfers of derivative liabilities for LGAC Warrants to Level 1 principally due to a change in the inputs used to value these derivatives. (c) For the year ended December 31, 2023, acquisitions represent the initial recognition of the contingent consideration liability (noncash transaction), and settlements represent aggregate cash and noncash settlement of contingent consideration after the acquisition date. There were no other transfers into or out of Level 3 within the fair value hierarchy during the years ended December 31, 2023, 2022 and 2021. Financial Instruments Not Measured at Fair Value— The tables below present the carrying value, fair value and fair value hierarchy category of certain financial instruments as of December 31, 2023 and 2022 that are not measured at fair value in the Company’s consolidated statement of financial condition. December 31, 2023 Fair Value Measurements Using: Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 966,168 $ 966,168 $ 966,168 $ – $ – Deposits with banks and short-term investments 219,576 219,576 219,576 – – Restricted cash 34,091 34,091 34,091 – – Financing receivables 113,929 113,694 – – 113,694 Customer loans 86,412 86,412 – – 86,412 Other fees and customers and other receivables and amounts due from Lazard Ltd subsidiaries 644,429 644,429 644,429 – – Financial Liabilities: Deposits and other customer payables $ 443,262 $ 443,262 $ 443,262 $ – $ – Senior debt 1,690,200 1,651,726 – 1,651,726 – December 31, 2022 Carrying Value Fair Value Measurements Using: Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 1,180,473 $ 1,180,473 $ 1,180,473 $ – $ – Deposits with banks and short-term investments 779,246 779,246 779,246 – – Restricted cash 625,381 625,381 625,381 – – Financing receivables 97,964 98,362 – – 98,362 Customer loans 128,890 128,890 – – 128,890 Other fees and customers and other receivables and amounts due from Lazard Ltd subsidiaries 499,910 499,910 499,910 – – Financial Liabilities: Deposits and other customer payables $ 921,834 $ 921,834 $ 921,834 $ – $ – Senior debt 1,687,714 1,601,917 – 1,601,917 – Cash and cash equivalents are carried at either cost or amortized cost that approximates fair value due to their short-term maturities. The carrying value of deposits with banks and short-term investments, and restricted cash, approximates fair value because of the relatively short period of time between their origination and expected maturity. Fair values of financing receivables were generally determined by discounting both principal and interest cash flows expected to be collected, using a discount rate approximating current market interest rates for comparable financial instruments and based on unobservable inputs. The carrying value of customer loans approximates fair value as such loans are fully collateralized and bear interest at rates that regularly reset in accordance with market reference rates. The carrying value of other fees and customers and other receivables and amounts due from Lazard Ltd subsidiaries and deposits and other customer payables approximates fair value due to their short-term nature. The Company’s senior debt is carried at its principal amount outstanding, net of unamortized debt costs. The fair value of the Company’s senior debt is based on market quotations. The following tables present, at December 31, 2023 and 2022, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value: December 31, 2023 Investments Redeemable NAV Unfunded Commitments % of NAV Not Redeemable Redemption Frequency Redemption Notice Period Alternative investment funds: Hedge funds $ 45,324 $ – NA (a) 30-60 days Other 680 – NA (b) <30-30 days Debt funds 5 – NA (c) <30 days Equity funds 45 – NA (d) <30-60 days Private equity funds: Equity growth 46,545 5,505 (e) 100 % (f) NA NA Total $ 92,599 $ 5,505 ____________________ (a) monthly (74%) and quarterly (26%) (b) daily (4%) and monthly (96%) (c) daily (100%) (d) monthly (34%) and annually (66%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $9,605 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f) Distributions from each fund will be received as the underlying investments of the funds are liquidated. December 31, 2022 Investments Redeemable NAV Unfunded Commitments % of NAV Not Redeemable Redemption Frequency Redemption Notice Period Alternative investment funds: Hedge funds $ 29,259 $ – NA (a) 30-60 days Other 615 – NA (b) <30-30 days Debt funds 4 – NA (c) <30 days Equity funds 40 – NA (d) <30-60 days Private equity funds: Equity growth 35,050 5,455 (e) 100 % (f) NA NA Total $ 64,968 $ 5,455 ____________________ (a) monthly (68%) and quarterly (32%) (b) daily (5%) and monthly (95%) (c) daily (100%) (d) monthly (35%) and annually (65%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,003 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f)

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES The tables below present the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 16) on the accompanying consolidated statements of financial condition as of December 31, 2023 and 2022. Notional amounts provide an indication of the volume of the Company's derivative activity. Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the consolidated statements of financial condition where the Company has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, amounts are not eligible for netting on the consolidated statements of financial condition, and those derivative assets and liabilities are shown separately in the table below. In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on the consolidated statements of financial condition. December 31, 2023 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 3,400 $ 283,635 $ 1,847 $ 170,704 Total return swaps and other 133 4,478 12,290 117,139 LFI and other similar deferred compensation arrangements – – 365,420 352,891 Total gross derivatives 3,533 $ 288,113 379,557 $ 640,734 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (604) (603) Total return swaps and other (140) (10,281) Net derivatives in "other assets" and "other liabilities" 2,789 368,673 Amounts not netted (a): Cash collateral – (243) Securities collateral – – $ 2,789 $ 368,430 December 31, 2022 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 1,356 $ 170,103 $ 921 $ 128,098 Total return swaps and other 13,427 155,026 72 1,398 LGAC Warrants – – 115 11,500 LFI and other similar deferred compensation arrangements – – 326,282 338,126 Total gross derivatives 14,783 $ 325,129 327,390 $ 479,122 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (157) (158) Total return swaps and other (72) (72) Net derivatives in "other assets" and "other liabilities" 14,554 327,160 Amounts not netted (a): Cash collateral – – Securities collateral – – $ 14,554 $ 327,160 _____________________ (a) Amounts are subject to master netting arrangements but do not meet the criteria for netting on the consolidated statements of financial condition under U.S. GAAP. For some counterparties, the collateral amounts of securities and cash collateral pledged may exceed the derivative assets and derivative liabilities balances. Where this is the case, the total amount reported is limited to the net derivative assets and net derivative liabilities balances with that counterparty. Net gains (losses) with respect to derivative instruments (included in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021, were as follows: Year Ended December 31, 2023 2022 2021 Forward foreign currency exchange rate contracts $ (2,701) $ 4,721 $ 11,007 LFI and other similar deferred compensation arrangements (41,463) 44,261 (35,494) LGAC Warrants 115 9,890 1,495 Total return swaps and other (16,957) 23,212 (14,460) Total $ (61,006) $ 82,084 $ (37,452) See Note 1 for additional information on LGAC Warrants.

Property, Net

Property, Net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Net	PROPERTY, NET At December 31, 2023 and 2022, property consisted of the following: Estimated December 31, 2023 2022 Buildings (a) 33 $ 170,830 $ 135,103 Leasehold improvements (a) 3-20 233,732 207,285 Furniture and equipment 3-10 230,713 235,684 Construction in progress 11,788 65,560 Total 647,063 643,632 Less - Accumulated depreciation and amortization (a) 414,547 393,595 Property, net $ 232,516 $ 250,037 ________________________ (a) The Company classified assets relating to an owned office building as held for sale as of December 31, 2023, the carrying amount of which was $72,921 (net of accumulated depreciation). The owned office building is available for immediate sale in its present condition and the Company expects the owned office building to be sold within one year. The property held for sale is reported within the Corporate segment. Effective January 1, 2024, depreciation expense will no longer be recorded on this asset.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	LEASES The Company as a Lessee The Company leases office space and equipment under non-cancelable lease agreements, which expire on various dates through 2034. Substantially all of these arrangements are operating leases relating to office space. Certain leases have renewal options that can be exercised at the discretion of the Company. The Company only includes renewal options in the lease term when it is reasonably certain to exercise the option. The Company does not record leases with a lease term of 12 months or less on the consolidated statements of financial condition; lease expense for these leases is recognized over the lease term on a straight-line basis. The operating lease liabilities at commencement reflect total lease payments discounted using an incremental borrowing rate (on a collateralized basis) based on the lease term (the “Discount”), as an implicit rate was not readily determinable for any of the Company’s operating leases. The Company determines its Discount with consideration of the Company’s public debt issuances as well as publicly available data for instruments with similar characteristics. For office space and equipment leases, the Company accounts for the lease and non-lease components as a single lease component. In addition to rent payments, operating leases for office space generally contain payments for real estate taxes, insurance costs, common area maintenance, and utilities that are not fixed. The Company accounts for these costs as variable payments and does not include them in the lease component. There are certain office leases outside of the U.S. that have annual rent increases based on a year-over-year change in an index that are also accounted for as variable payments and are excluded from the lease component. The following table summarizes the components of operating lease expense reflected on the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Operating lease cost $ 80,001 $ 78,259 $ 86,023 Variable lease cost 23,404 20,968 21,056 Sublease income (934) (4,969) (7,303) Total $ 102,471 $ 94,258 $ 99,776 The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the years ended December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid for operating leases $ 81,530 $ 81,219 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 35,282 $ 33,531 Weighted average remaining lease term 8 years 9 years Weighted average discount rate 3.9 % 3.7 % Maturities of the operating lease liabilities outstanding at December 31, 2023 for each of the years in the period ending December 31, 2028 and thereafter are set forth in the table below. Year Ending December 31, 2024 $ 82,110 2025 72,983 2026 64,587 2027 63,123 2028 59,863 Thereafter 221,452 Total lease payments 564,118 Less - Discount 79,738 Operating lease liabilities $ 484,380 In addition, to the table above, the Company had undiscounted future lease payments of $119,225 related to an operating lease that was signed but not yet commenced at December 31, 2023. This operating lease will commence in 2024 with a lease term of 15 years. The Company as a Lessor The Company has entered into a lease agreement which provides a third-party the right to use its owned office building. The lease contains options to renew and terminate and is classified as an operating lease. The following table presents the carrying value of the assets subject to leases reported on the consolidated statements of financial condition : Year Ending December 31, 2023 Property, net $ 72,921 Accumulated depreciation $ 104,171 The Company classified the owned office building as held for sale as of December 31, 2023. See Note 9. For the year ended December 31, 2023, the Company’s operating lease income included in “ revenue-other The following table presents undiscounted future cash inflows under the operating lease as of December 31, 2023: Year Ending December 31, 2024 $ 2,758 2025 8,273 2026 8,273 2027 8,273 2028 8,273 Thereafter 24,820 Total lease payment to be received $ 60,670
Leases	LEASES The Company as a Lessee The Company leases office space and equipment under non-cancelable lease agreements, which expire on various dates through 2034. Substantially all of these arrangements are operating leases relating to office space. Certain leases have renewal options that can be exercised at the discretion of the Company. The Company only includes renewal options in the lease term when it is reasonably certain to exercise the option. The Company does not record leases with a lease term of 12 months or less on the consolidated statements of financial condition; lease expense for these leases is recognized over the lease term on a straight-line basis. The operating lease liabilities at commencement reflect total lease payments discounted using an incremental borrowing rate (on a collateralized basis) based on the lease term (the “Discount”), as an implicit rate was not readily determinable for any of the Company’s operating leases. The Company determines its Discount with consideration of the Company’s public debt issuances as well as publicly available data for instruments with similar characteristics. For office space and equipment leases, the Company accounts for the lease and non-lease components as a single lease component. In addition to rent payments, operating leases for office space generally contain payments for real estate taxes, insurance costs, common area maintenance, and utilities that are not fixed. The Company accounts for these costs as variable payments and does not include them in the lease component. There are certain office leases outside of the U.S. that have annual rent increases based on a year-over-year change in an index that are also accounted for as variable payments and are excluded from the lease component. The following table summarizes the components of operating lease expense reflected on the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Operating lease cost $ 80,001 $ 78,259 $ 86,023 Variable lease cost 23,404 20,968 21,056 Sublease income (934) (4,969) (7,303) Total $ 102,471 $ 94,258 $ 99,776 The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the years ended December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid for operating leases $ 81,530 $ 81,219 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 35,282 $ 33,531 Weighted average remaining lease term 8 years 9 years Weighted average discount rate 3.9 % 3.7 % Maturities of the operating lease liabilities outstanding at December 31, 2023 for each of the years in the period ending December 31, 2028 and thereafter are set forth in the table below. Year Ending December 31, 2024 $ 82,110 2025 72,983 2026 64,587 2027 63,123 2028 59,863 Thereafter 221,452 Total lease payments 564,118 Less - Discount 79,738 Operating lease liabilities $ 484,380 In addition, to the table above, the Company had undiscounted future lease payments of $119,225 related to an operating lease that was signed but not yet commenced at December 31, 2023. This operating lease will commence in 2024 with a lease term of 15 years. The Company as a Lessor The Company has entered into a lease agreement which provides a third-party the right to use its owned office building. The lease contains options to renew and terminate and is classified as an operating lease. The following table presents the carrying value of the assets subject to leases reported on the consolidated statements of financial condition : Year Ending December 31, 2023 Property, net $ 72,921 Accumulated depreciation $ 104,171 The Company classified the owned office building as held for sale as of December 31, 2023. See Note 9. For the year ended December 31, 2023, the Company’s operating lease income included in “ revenue-other The following table presents undiscounted future cash inflows under the operating lease as of December 31, 2023: Year Ending December 31, 2024 $ 2,758 2025 8,273 2026 8,273 2027 8,273 2028 8,273 Thereafter 24,820 Total lease payment to be received $ 60,670

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The components of goodwill and other intangible assets at December 31, 2023 and 2022 are presented below: December 31, 2023 2022 Goodwill $ 373,574 $ 356,369 Other intangible assets (net of accumulated amortization) 30 90 $ 373,604 $ 356,459 Changes in the carrying amount of goodwill for the years ended December 31, 2023, 2022 and 2021 are as follows: Year Ended December 31, 2023 2022 2021 Financial Advisory Asset Management Total Financial Advisory Asset Management Total Financial Advisory Asset Management Total Balance, January 1 $ 291,828 $ 64,541 $ 356,369 $ 292,646 $ 64,541 $ 357,187 $ 297,141 $ 64,541 $ 361,682 Acquisition of – 16,729 16,729 – – – – – – Foreign currency 476 – 476 (818) – (818) (4,495) – (4,495) Balance, December 31 $ 292,304 $ 81,270 $ 373,574 $ 291,828 $ 64,541 $ 356,369 $ 292,646 $ 64,541 $ 357,187 The Company tests goodwill for impairment annually or more frequently if circumstances indicate that impairment may have occurred. Pursuant to the Company’s goodwill impairment tests for the years ended December 31, 2023, 2022 and 2021, the Company determined that no impairment existed.

Other Assets and Other Liabilit

Other Assets and Other Liabilities	12 Months Ended
	Dec. 31, 2023
Other Assets And Other Liabilities [Abstract]
Other Assets and Other Liabilities	OTHER ASSETS AND OTHER LIABILITIES The following table sets forth the Company’s other assets, by type, as of December 31, 2023 and 2022: December 31, 2023 2022 Current income and other tax receivables $ 54,169 $ 55,193 Prepaid compensation (see Note 16) 115,972 112,124 Other advances and prepayments 117,452 105,653 Other 111,390 103,226 Total $ 398,983 $ 376,196 The following table sets forth the Company’s other liabilities, by type, as of December 31, 2023 and 2022: December 31, 2023 2022 Accrued expenses $ 193,290 $ 195,218 Current income and other taxes payable 131,813 110,998 Employee benefit-related liabilities 23,829 30,580 Unclaimed funds at LFB 16,994 16,435 Deferred revenue (a) 140,417 137,330 Securities sold, not yet purchased 4,809 4,651 Deferred offering costs – 20,125 Other 27,211 16,631 Total $ 538,363 $ 531,968 _____________________ (a)

Senior Debt

Senior Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Senior Debt	SENIOR DEBT Senior debt is comprised of the following as of December 31, 2023 and 2022: Outstanding as of December 31, 2023 December 31, 2022 Initial Principal Amount Maturity Date Annual Interest Rate(a) Principal Unamortized Debt Costs Carrying Value Principal Unamortized Debt Costs Carrying Value Lazard Group 2025 Senior Notes $ 400,000 2/13/25 3.75 % $ 400,000 $ 531 $ 399,469 $ 400,000 $ 1,003 $ 398,997 Lazard Group 2027 Senior Notes 300,000 3/1/27 3.625 % 300,000 1,235 298,765 300,000 1,625 298,375 Lazard Group 2028 Senior Notes 500,000 9/19/28 4.50 % 500,000 4,012 495,988 500,000 4,864 495,136 Lazard Group 2029 Senior Notes 500,000 3/11/29 4.375 % 500,000 4,022 495,978 500,000 4,794 495,206 Total $ 1,700,000 $ 9,800 $ 1,690,200 $ 1,700,000 $ 12,286 $ 1,687,714 _____________________ (a) The effective interest rates of Lazard Group’s 3.75% senior notes due February 13, 2025 (the “2025 Notes”), Lazard Group’s 3.625% senior notes due March 1, 2027 (the “2027 Notes”), Lazard Group’s 4.50% senior notes due September 19, 2028 (the “2028 Notes”) and Lazard Group’s 4.375% senior notes due March 11, 2029 (the “2029 Notes”) are 3.87%, 3.76%, 4.67% and 4.53%, respectively. On June 6, 2023, Lazard Group entered into a Second Amended and Restated Credit Agreement with a group of lenders for a five-year, $200,000 senior revolving credit facility expiring in June 2028 (the “Second Amended and Restated Credit Agreement”). The Second Amended and Restated Credit Agreement amended and restated the three-year, $200,000 senior revolving credit facility that was due to expire in July 2023 (the “Previous Credit Agreement”) in its entirety. Borrowings under the Second Amended and Restated Credit Agreement generally will bear interest at adjusted term SOFR plus an applicable margin for specific interest periods determined based on Lazard Group’s highest credit rating from an internationally recognized credit agency. The Second Amended and Restated Credit Agreement contains certain covenants, events of default and other customary provisions, including customary benchmark-replacement mechanics. At December 31, 2023 and 2022, no amounts were outstanding under the Second Amended and Restated Credit Agreement and the Previous Credit Agreement, respectively. As of December 31, 2023, the Company had approximately $209,400 in unused lines of credit available to it, including the credit facility provided under the Second Amended and Restated Credit Agreement. The Second Amended and Restated Credit Agreement and 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 December 31, 2023, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured. Debt maturities relating to senior borrowings outstanding at December 31, 2023 for each of the five years in the period ending December 31, 2028 and thereafter are set forth in the table below. Year Ending December 31, 2024 $ – 2025 400,000 2026 – 2027 300,000 2028 500,000 Thereafter 500,000 Total $ 1,700,000

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments— See Notes 7 and 17 for information regarding commitments relating to investment capital funding commitments and obligations to fund our pension plans, respectively. The fulfillment of the commitments described herein should not have a material adverse effect on the Company’s consolidated financial position or results of operations. Legal— The Company is involved from time to time in judicial, governmental, regulatory and arbitration proceedings and inquiries concerning matters arising in connection with the conduct of our businesses, including proceedings initiated by former employees alleging wrongful termination. The Company reviews such matters on a case-by-case basis and establishes any required accrual if a loss is probable and the amount of such loss can be reasonably estimated. The Company may experience significant variation in its revenue and earnings on an annual basis. Accordingly, the results of any pending matter or matters could be significant when compared to the Company’s earnings in any particular year. The Company believes, however, based on currently available information, that the results of any pending matters, in the aggregate, will not have a material effect on its business or financial condition.

Members' Equity and Redeemable

Members' Equity and Redeemable Noncontrolling Interests	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Members' Equity and Redeemable Noncontrolling Interests	MEMBERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS Lazard Group Distributions —Distributions in respect of Lazard Group’s common membership interests are allocated to the holders of such interests in accordance with the provisions of the Operating Agreement. Such distributions primarily represent amounts necessary to fund (i) any dividends Lazard Ltd may declare on its Class A common stock (“common stock”), the only class of common stock of Lazard outstanding, and (ii) tax distributions in respect of income taxes that Lazard Ltd’s subsidiaries incur. During the years ended December 31, 2023, 2022 and 2021, Lazard Group distributed $161,984, $228,045 and $233,234, respectively, to the subsidiaries of Lazard Ltd. In addition, in March 2023 and February 2022, Lazard Group distributed 1,521,620 and 1,902,756 shares of common stock, respectively, to one of its managing members, which is a subsidiary of Lazard Ltd, in non-cash transactions, in connection with the settlement of profits interest participation rights (see Note 16). There was no impact on total members’ equity resulting from such distributions. Pursuant to Lazard Group’s Operating Agreement, Lazard Group allocates and distributes to its members a substantial portion of its distributable profits in installments as soon as practicable after the end of each fiscal year. Such installment distributions usually begin in February. See Note 20 for information regarding a related party transaction. Share Repurchase Program —The Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below. Date Repurchase Expiration February 2022 $ 300,000 December 31, 2024 July 2022 $ 500,000 December 31, 2024 The Company expects that the share repurchase program will continue to be used to offset a portion of the shares that have been or will be issued under Lazard’s 2018 Incentive Compensation Plan, as amended (the “2018 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from period to period due to a variety of factors. Purchases with respect to such program are set forth in the table below: Year Ended December 31: Number of Average 2021 9,124,295 $ 44.51 2022 19,666,798 $ 35.17 2023 2,782,662 $ 36.67 There were 25,300,624 and 26,774,550 shares of common stock held by Lazard Group at December 31, 2023 and 2022, respectively. Such shares of common stock are reported, at cost, as a reduction of members’ equity within the accompanying consolidated statements of financial condition. During 2023, 2022 and 2021, certain of our executive officers received common stock in connection with the vesting or settlement of previously-granted deferred equity incentive awards. The vesting or settlement of such equity awards gave rise to a tax payable by the executive officers, and, consistent with our past practice, the Company purchased shares of common stock from certain of our executive officers equal in value to all or a portion of the estimated amount of such tax. In addition, during the years ended December 31, 2023, 2022 and 2021, the Company purchased shares of common stock from certain of our executive officers. The aggregate value of all such purchases in 2023, 2022 and 2021 was approximately $11,100, $16,500 and $19,800, respectively. Such shares of common stock are reported at cost. As of December 31, 2023, a total of $200,095 of share repurchase authorization remaining available under Lazard Ltd’s share repurchase program will expire on December 31, 2024. During the year ended December 31, 2023, 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) (“AOCI”), Net of Tax —The tables below reflect the balances of each component of AOCI at December 31, 2023, 2022 and 2021 and activity during the years then ended: Currency Employee Total Amount Total Balance, January 1, 2023 $ (140,102) $ (140,483) $ (280,585) $ 2 $ (280,587) Activity: Other comprehensive income (loss) before reclassifications 30,720 (32,210) (1,490) – (1,490) Adjustments for items reclassified to earnings, net of tax 2,413 5,233 7,646 – 7,646 Net other comprehensive income (loss) 33,133 (26,977) 6,156 – 6,156 Balance, December 31, 2023 $ (106,969) $ (167,460) $ (274,429) $ 2 $ (274,431) Currency Employee Total Amount Total Balance, January 1, 2022 $ (76,355) $ (132,680) $ (209,035) $ 2 $ (209,037) Activity: Other comprehensive loss before reclassifications (63,779) (11,955) (75,734) – (75,734) Adjustments for items reclassified to earnings, net of tax 32 4,152 4,184 – 4,184 Net other comprehensive loss (63,747) (7,803) (71,550) – (71,550) Balance, December 31, 2022 $ (140,102) $ (140,483) $ (280,585) $ 2 $ (280,587) Currency Employee Total Amount Total Balance, January 1, 2021 $ (20,438) $ (173,006) $ (193,444) $ 2 $ (193,446) Activity: Other comprehensive income (loss) before reclassifications (48,401) 34,666 (13,735) – (13,735) Adjustments for items reclassified to earnings, net of tax (7,516) 5,660 (1,856) – (1,856) Net other comprehensive income (loss) (55,917) 40,326 (15,591) – (15,591) Balance, December 31, 2021 $ (76,355) $ (132,680) $ (209,035) $ 2 $ (209,037) The table below reflects adjustments for items reclassified out of AOCI, by component, for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Currency translation losses (gains) (a) $ 2,413 $ 32 $ (7,516) Employee benefit plans: Amortization relating to employee benefit plans (b) 6,754 5,146 7,269 Less - related income taxes 1,521 994 1,609 5,233 4,152 5,660 Total reclassifications, net of tax $ 7,646 $ 4,184 $ (1,856) ________________________ (a) Represents currency translation losses (gains) reclassified from AOCI associated with closing certain of our offices. Such amounts are included in “revenue–other” on the consolidated statements of operations. (b) Included in the computation of net periodic benefit cost (see Note 17). Such amounts are included in “operating expenses–other” on the consolidated statements of operations. Noncontrolling Interests— Noncontrolling interests principally represent (i) interests held in Edgewater’s management vehicles that the Company is deemed to control, but does not own, (ii) LGAC interests (see Note 1) and (iii) consolidated VIE interests held by employees (see Note 23). The tables below summarize net income (loss) attributable to noncontrolling interests for the years ended December 31, 2023, 2022 and 2021 and noncontrolling interests as of December 31, 2023 and 2022 in the Company’s consolidated financial statements: Net Income (Loss) 2023 2022 2021 Edgewater $ 6,051 $ 31,314 $ 10,466 LFI Consolidated Funds 10,150 (11,415) 7,950 LGAC 1,968 15,064 (3,940) Other 4 3 5 Total $ 18,173 $ 34,966 $ 14,481 Noncontrolling Interests 2023 2022 Edgewater $ 46,571 $ 44,681 LFI Consolidated Funds – 74,164 LGAC – (10,714) Other 14 13 Total $ 46,585 $ 108,144 Redeemable Noncontrolling Interests —Redeemable noncontrolling interests principally represent LGAC interests as of December 31, 2022 (see Note 1) and consolidated VIE interests held by employees as of December 31, 2023 (see Note 23). Consolidated VIE interests held by employees (vested LFI awards), which may be redeemed at any time at the option of the holder for cash, are recorded on the Company’s consolidated statements of financial position at redemption value and classified as temporary equity. Changes in redemption value are recognized immediately as they occur and will adjust the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period.

Incentive Plans

Incentive Plans	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Incentive Plans	INCENTIVE PLANS Share-Based Incentive Plan Awards A description of Lazard Ltd’s 2018 Plan and 2008 Incentive Compensation Plan (the “2008 Plan”) and activity with respect thereto during the years ended December 31, 2023, 2022 and 2021 is presented below. Shares Available Under the 2018 Plan and 2008 Plan Total shares available for issuance under incentive compensation plans are primarily from the 2018 Plan, which became effective on April 24, 2018. The aggregate number of shares authorized for issuance under the 2018 Plan is 50,000,000. Such shares may be issued pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”), restricted stock awards (“RSAs”), profits interest participation rights (“PIPRs”), and other share-based awards, as further discussed below. The 2008 Plan authorized the issuance of shares of common stock pursuant to the grant or exercise of stock options, stock appreciation rights, RSUs, PRSUs and other share-based awards. The 2008 Plan was terminated on April 24, 2018, although outstanding deferred stock unit (“DSU”) awards granted under the 2008 Plan before its termination continue to be subject to its terms. Expense The following reflects the expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, RSAs and PIPRs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying consolidated statements of operations: Year Ended December 31, 2023 2022 2021 Share-based incentive awards: RSUs $ 165,435 $ 125,664 $ 124,895 PRSUs 2,488 2,011 6,136 RSAs 25,073 23,923 17,765 PIPRs 55,712 86,810 83,046 DSUs 931 1,116 1,058 Total $ 249,639 $ 239,524 $ 232,900 Compensation and benefits expense relating to share-based awards with service and/or performance conditions is reversed if the awards are forfeited due to these conditions not being met. Compensation and benefits expense relating to share-based awards with market-based conditions is not reversed if these awards are forfeited based solely on failing to meet such market-based conditions. The Company periodically assesses forfeiture rates, including as a result of any applicable performance conditions. A change in estimated forfeiture rates or performance results in a cumulative adjustment to compensation and benefits expense and also would cause the aggregate amount of compensation expense recognized in future periods to differ from the estimated unrecognized compensation expense described below. The Company’s share-based incentive plans and awards are described below. RSUs, PRSUs and DSUs RSUs generally require future service as a condition for vesting (unless the recipient is then eligible for retirement under the Company’s retirement policy) and convert into shares of common stock on a one-for-one basis after the stipulated vesting periods. The grant date fair value of the RSUs, net of an estimated forfeiture rate, is expensed over the requisite service periods (generally, one-third after two years and the remaining two-thirds after the third year), and is adjusted for actual forfeitures over such period. RSUs generally include a dividend participation right that provides that, during the applicable vesting period, each RSU is attributed additional RSUs equivalent to any dividends paid on common stock during such period. During the year ended December 31, 2023, dividend participation rights required the issuance of 711,673 RSUs. In connection with RSUs that settled during the year ended December 31, 2023, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 1,213,264 shares of common stock during the year. Accordingly, 2,158,820 shares of common stock, respectively, held by the Company were delivered during the year ended December 31, 2023. PRSUs are RSUs that are subject to performance-based and service-based vesting conditions, and beginning with awards granted in February 2021, a market-based condition. The number of shares of common stock that a recipient receives upon vesting of a PRSU is calculated by reference to certain performance-based and market-based metrics that relate to Lazard Ltd’s performance over a three-year period. The target number of shares of common stock subject to each PRSU is one; however, based on the achievement of both the performance-based and market-based conditions, the number of shares of common stock that may be received will range from zero to 2.4 times the target number. PRSUs vest on a single date approximately three years following the date of the grant, provided the applicable service and performance conditions are satisfied. PRSUs include dividend participation rights that are subject to the same vesting restrictions (including performance conditions) as the underlying PRSUs to which they relate and are settled in cash at the same rate that dividends are paid on common stock. Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. 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 a portion of their compensation for service on the Board of Directors and its committees in the form of DSUs and can elect to receive the cash-portion of their compensation in DSUs in lieu of cash. Total DSUs granted to Non-Executive Directors during the year ended December 31, 2023 were 62,654. DSUs are convertible into shares of common stock on a one-for-one basis at the time of cessation of service to the Board of Directors. DSUs include a cash dividend participation right equivalent to dividends paid on common stock. DSU awards are expensed at their fair value on their date of grant. The following is a summary of activity relating to RSUs, PRSUs and DSUs for the year ended December 31, 2023: RSUs PRSUs DSUs Units Weighted Units Weighted Units Weighted Balance, January 1, 2023 9,022,917 $ 37.97 94,690 $ 39.27 400,820 $ 37.66 Granted (including 711,673 RSUs relating to dividend participation) 5,700,485 $ 36.49 – $ – 62,654 $ 29.71 Forfeited (282,967) $ 35.37 – $ – - $ – Settled (3,372,084) $ 41.65 – $ – (134,744) $ 36.21 PRSUs performance units earned (a) 30,775 $ 46.63 Balance, December 31, 2023 11,068,351 $ 36.15 125,465 $ 41.07 328,730 $ 36.74 _____________________ (a) Represents PRSUs earned during the fiscal year under the performance conditions of previously-granted PRSU awards in excess of the target payout levels of such awards. The weighted-average grant date fair value of RSUs granted in 2023, 2022 and 2021 was $36.49, $33.73 and $43.38, respectively. The weighted-average grant date fair value of PRSUs granted in 2022 and 2021 was $35.44 and $46.63, respectively. The weighted-average grant date fair value of DSUs granted in 2023, 2022 and 2021 was $29.71, $35.78 and $46.75, respectively. As of December 31, 2023, the total estimated unrecognized compensation expense of RSUs and PRSUs was $122,498 and $1,185, respectively. The Company expects to expense such amounts over weighted-average periods of approximately 0.9 and 0.4 years, respectively, subsequent to December 31, 2023. RSAs The following is a summary of activity related to RSAs associated with compensation arrangements during the year ended December 31, 2023: RSAs Weighted Balance, January 1, 2023 1,266,424 $ 36.99 Granted (including 94,985 relating to dividend participation) 670,064 $ 37.60 Forfeited (15,897) $ 39.14 Settled (684,645) $ 39.13 Balance, December 31, 2023 1,235,946 $ 36.10 The weighted-average grant date fair value of RSAs granted in 2023, 2022 and 2021 was $37.60, $33.37 and $43.80, respectively. In connection with RSAs that settled during the year ended December 31, 2023, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 279,385 shares of common stock during the year. Accordingly, 405,260 shares of common stock held by the Company were delivered during the year ended December 31, 2023. RSAs generally include a dividend participation right that provides that during the applicable vesting period each RSA is attributed additional RSAs equivalent to any dividends paid on common stock during such period. During the year ended December 31, 2023, dividend participation rights required the issuance of 94,985 RSAs. At December 31, 2023, estimated unrecognized RSAs expense was $15,967, with such expense to be recognized over a weighted average period of approximately 0.8 years subsequent to December 31, 2023. Profits Interest Participation Rights Profits interest participation rights (“PIPRs”) are equity incentive awards that, subject to certain vesting and other conditions described below, may be exchanged for shares of common stock pursuant to the 2018 Plan. They are a class of membership interests in the Company that are intended to qualify as “profits interests” for U.S. federal income tax purposes and are recorded within members’ equity in the Company’s consolidated statements of financial condition. PIPRs, with the exception of Stock Price PIPRs (“SP-PIPRs”), as explained below, generally provide for vesting approximately three years following the grant date, so long as applicable vesting and other conditions have been satisfied. Like outstanding RSUs and similar awards, PIPRs are subject to continued employment and other conditions and restrictions and are forfeited if those conditions and restrictions are not fulfilled. A recipient generally realizes value from PIPRs only to the extent that applicable vesting and other conditions are satisfied, and an amount of economic appreciation in the assets of the Company occurs as necessary to satisfy certain partnership tax rules (referred to as the “Minimum Value Condition”), otherwise the PIPRs will be forfeited. Upon satisfaction of such conditions, PIPRs that are in parity with the value of common stock will be exchanged on a one-for-one basis for shares of common stock. If forfeited based solely on failing to meet the Minimum Value Condition, or, if applicable, common stock price milestones as described below, the associated compensation expense would not be reversed. All PIPR awards are subject to service-based vesting conditions. In addition to PIPR awards with only service-based vesting conditions (“Ordinary PIPRs”) granted to certain of our executive officers and a limited number of employees, the Company has granted the following types of PIPRs to certain of our executive officers, that are subject to additional vesting and market-based conditions: • Performance PIPRs (“P-PIPRs”), which are subject to service-based and performance-based vesting conditions, and beginning in February 2021, incremental market-based conditions. • SP-PIPRs, which are subject to service-based vesting conditions and common stock price milestones and are eligible to vest in three tranches. The number of shares of common stock that a recipient will receive upon the exchange of a P-PIPR award is calculated by reference to applicable performance-based vesting conditions and, beginning with P-PIPRs granted in 2021, incremental market-based conditions and only result in value to the recipient to the extent the vesting and other conditions are satisfied. The target number of shares of common stock subject to each P-PIPR is one. Based on the achievement of performance conditions, as determined and approved by the Compensation Committee, the number of shares of common stock that may be received in connection with the P-PIPR awards granted prior to February 2021 will range from zero to two times the target number. For the P-PIPR awards granted beginning in February 2021, subject to both performance-based and incremental market-based conditions, the number of shares that may be received will range from zero to 2.4 times the target number. Unless applicable vesting and other conditions are satisfied during the three-year performance period, and the Minimum Value Condition is satisfied within five years following the grant date, all P-PIPRs will be forfeited. SP-PIPRs are eligible to vest in three tranches (each, a “Tranche”) based on the achievement of service conditions and Tranche-specific common stock price milestones measured as of a specified anniversary of the date of grant, as described below. Their aggregate fair value at the grant date, which based on the estimated probability of achieving the common stock price milestones is approximately $33,900, is expensed over the requisite service periods. SP-PIPRs will vest: • 20% if, during the three years following the date of grant, the Company’s common stock price has appreciated 25% above the average trailing 30 consecutive day stock price preceding the date of grant (the “Grant Date Stock Price”); • 40% if, during the five years following the date of grant, the Company’s common stock price has appreciated 50% above the Grant Date Stock Price; • 40% if, during the seven years following the date of grant, the Company’s common stock price has appreciated 100% above the Grant Date Stock Price. Each Tranche is subject to the executive’s continued employment through the applicable anniversary of the date of grant and requires that the applicable common stock price milestone is sustained for any 30 consecutive day period prior to the anniversary of the date of grant of the applicable Tranche (the “Expiration Date”). If the service conditions and common stock price milestones, as described above, are not achieved as of the Expiration Date, all SP-PIPRs in such Tranche will be forfeited. The following is a summary of activity relating to all PIPRs during the year ended December 31, 2023: Ordinary PIPRs (a) P-PIPRs SP-PIPRs Units Weighted Units Weighted Units Weighted Balance, January 1, 2023 1,684,404 $ 39.96 2,447,224 $ 40.29 – $ – Granted 1,521,458 $ 34.50 – $ – 2,250,000 $ 15.06 Forfeited (16,695) $ 43.23 – $ – – $ – Settled (548,398) $ 42.89 (973,222) $ 41.76 – $ – Performance units earned (b) 484,827 $ 46.63 Balance, December 31, 2023 2,640,769 $ 36.19 1,958,829 $ 41.12 2,250,000 $ 15.06 _____________________ (a) Includes PIPR awards with only service-based vesting conditions. (b) Represents P-PIPRs earned during the fiscal year under the performance conditions of previously-granted P-PIPR awards in excess of the target payout levels of such awards. Fair values shown above represent the weighted average as of grant date. The weighted-average grant date fair value of ordinary PIPRs and SP-PIPRs granted in 2023 was $34.50 and $15.06, respectively. The weighted-average grant date fair value of ordinary PIPRs and P-PIPRs granted in 2022 was $32.95 and $35.44, respectively. The weighted-average grant date fair value of ordinary PIPRs and P-PIPRs granted in 2021 was $43.23 and $46.63, respectively. Compensation expense recognized for ordinary PIPRs and P-PIPRs is determined by multiplying the number of shares of common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. Compensation expense recognized for SP-PIPRs is determined by multiplying the number of shares of common stock underlying such awards by the grant date fair value. As of December 31, 2023, the total estimated unrecognized compensation expense of all profits interest participation rights was $57,954 and the Company expects to expense such amount over a weighted-average period of approximately 1.8 years subsequent to December 31, 2023. LFI and Other Similar Deferred Compensation Arrangements In connection with LFI and other similar deferred compensation arrangements, granted to eligible employees, which generally require future service as a condition for vesting, the Company records a prepaid compensation asset and a corresponding compensation liability on the grant date based upon the fair value of the award. The prepaid asset is amortized on a straight-line basis over the applicable requisite service periods (which are generally similar to the comparable periods for RSUs) and is charged to “compensation and benefits” expense within the Company’s consolidated statements of operations. LFI and similar deferred compensation arrangements that do not require future service are expensed immediately. The related compensation liability is accounted for at fair value as a derivative liability, which contemplates the impact of estimated forfeitures, and is adjusted for changes in fair value primarily related to changes in value of the underlying investments. The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the year ended December 31, 2023: Prepaid Compensation Balance, January 1, 2023 $ 112,124 $ 326,282 Granted 159,981 159,981 Settled – (171,738) Amortization and the impact of forfeitures (156,254) 8,103 Change in fair value of underlying investments – 41,463 Other 121 1,329 Balance, December 31, 2023 $ 115,972 $ 365,420 The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 0.8 years subsequent to December 31, 2023. The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Amortization and the impact of forfeitures $ 164,357 $ 154,878 $ 151,604 Change in the fair value of underlying investments 41,463 (44,261) 35,494 Total $ 205,820 $ 110,617 $ 187,098 Incentive Awards Granted in the First Quarter of 2024 In the first quarter of 2024, the Company granted approximately $374,000 of deferred share-based incentive compensation awards to eligible employees as part of the 2023 year-end compensation process. These grants included: RSUs; PIPRs; and LFI and other similar deferred compensation arrangements. The Company also granted approximately $95,000 of cash retention awards that are subject to a required three-year service period subsequent to payment by the Company. If the service requirement is not met, the award is subject to clawback. The cash retention awards will be amortized over the requisite service period beginning on the grant date.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The Company provides retirement and other post-retirement benefits to certain of its employees through defined benefit pension plans (the “pension plans”). The Company also offers defined contribution plans to its employees. The pension plans generally provide benefits to participants based on average levels of compensation. Expenses related to the Company’s employee benefit plans are included in “compensation and benefits” expense for the service cost component, and “operating expenses–other” for the other components of benefit costs on the consolidated statements of operations. Employer Contributions to Pension Plans —The Company’s funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans’ trustees. Management also evaluates from time to time whether to make voluntary contributions to the plans. Contributions to the non-U.S. pension plans during the year ending December 31, 2024 are not expected to be material. The following table summarizes the changes in the benefit obligations, the fair value of the assets, the funded status and amounts recognized in the consolidated statements of financial condition for the post-retirement plans. The Company uses December 31 as the measurement date for its post-retirement plans. Pension Plans 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 440,050 $ 731,978 Service cost 338 543 Interest cost 20,930 11,130 Amendments 10,201 – Actuarial (gain) loss 21,937 (203,009) Benefits paid (25,542) (29,357) Foreign currency translation and other adjustments 22,787 (71,235) Benefit obligation at end of year 490,701 440,050 Change in plan assets Fair value of plan assets at beginning of year 468,872 782,463 Actual return on plan assets 22,461 (215,237) Employer contributions 5,673 4,206 Benefits paid (25,542) (29,357) Foreign currency translation and other adjustments 24,987 (73,203) Fair value of plan assets at end of year 496,451 468,872 Funded (deficit) at end of year $ 5,750 $ 28,822 Amounts recognized in the consolidated statements of financial condition at December 31, 2023 and 2022 consist of: Prepaid pension asset (included in “other assets”) $ 10,507 $ 35,268 Accrued benefit liability (included in “other liabilities”) (4,757) (6,446) Net amount recognized $ 5,750 $ 28,822 Amounts recognized in AOCI (excluding tax benefits of $38,516 and $29,813 at December 31, 2023 and 2022, respectively) consist of: Actuarial net loss $ 193,193 $ 167,724 Prior service cost 12,782 2,572 Net amount recognized $ 205,975 $ 170,296 For the years ended December 31, 2023 and 2022, the change in the benefit obligation related to the actuarial (gain) loss is principally attributable to changes in the discount rates. The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2023 and 2022: U.S. Pension Plans Non-U.S. Pension Plans Total 2023 2022 2023 2022 2023 2022 Fair value of plan assets $ 15,511 $ 14,983 $ 480,940 $ 453,889 $ 496,451 $ 468,872 Accumulated benefit obligation $ 19,999 $ 20,518 $ 470,702 $ 419,532 $ 490,701 $ 440,050 Projected benefit obligation $ 19,999 $ 20,518 $ 470,702 $ 419,532 $ 490,701 $ 440,050 The following table summarizes the components of net periodic benefit cost (credit), the return on the Company’s post-retirement plan assets, benefits paid, contributions and other amounts recognized in AOCI for the years ended December 31, 2023, 2022 and 2021: Pension Plans 2023 2022 2021 Components of Net Periodic Benefit Cost (Credit): Service cost $ 338 $ 543 $ 876 Interest cost 20,930 11,130 8,679 Expected return on plan assets (23,942) (24,482) (26,077) Amortization of: Prior service cost 107 106 118 Net actuarial loss 6,647 5,040 7,151 Settlement loss – – 1,056 Net periodic benefit cost (credit) $ 4,080 $ (7,663) $ (8,197) Actual return on plan assets $ 22,461 $ (215,237) $ 26,046 Employer contributions $ 5,673 $ 4,206 $ 4,493 Benefits paid $ 25,542 $ 29,357 $ 29,327 Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax expense (benefit) of $(8,703), $(4,443) and $13,521 during the years ended December 31, 2023, 2022 and 2021, respectively): Net actuarial (gain) loss $ 23,521 $ 31,174 $ (40,717) Prior service cost 10,172 – – Reclassification of prior service (cost) credit to earnings (107) (106) (118) Reclassification of actuarial gain (loss) to earnings (6,647) (5,040) (7,151) Currency translation and other adjustments 8,740 (13,783) (5,860) Total recognized in AOCI $ 35,679 $ 12,245 $ (53,846) Net amount recognized in total periodic benefit cost and AOCI $ 39,759 $ 4,582 $ (62,043) The assumptions used to develop actuarial present value of the projected benefit obligation and net periodic pension cost as of or for the years ended December 31, 2023, 2022 and 2021 are set forth below: Pension Plans 2023 2022 2021 Weighted average assumptions used to determine benefit obligations: Discount rate 4.4 % 4.7 % 1.8 % Weighted average assumptions used to determine net periodic benefit cost: Discount rate 4.3 % 2.1 % 1.1 % Expected long-term rate of return on plan assets 5.1 % 3.4 % 3.3 % Generally, the Company determined the discount rates for its defined benefit plans by utilizing indices for long-term, high-quality bonds and ensuring that the discount rate does not exceed the yield reported for those indices after adjustment for the duration of the plans’ liabilities. In selecting the expected long-term rate of return on plan assets, the Company considered the average rate of earnings expected on the funds invested or to be invested to provide for the benefits of the plan, giving consideration to expected returns on different asset classes held by the plans in light of prevailing economic conditions as well as historical returns. This basis is consistent for all years presented. Expected Benefit Payments —The following table summarizes the expected benefit payments for the Company’s pension plans for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter: Pension 2024 $ 28,564 2025 27,844 2026 28,130 2027 28,654 2028 29,105 2029-2033 146,096 Plan Assets —The following tables present the categorization of our pension plans’ assets as of December 31, 2023 and 2022, measured at fair value, into a fair value hierarchy and investments measured at NAV or its equivalent as a practical expedient in accordance with fair value measurement disclosure requirements: As of December 31, 2023 Level 1 Level 2 Level 3 NAV (a) Total Assets: Cash $ 9,286 $ – $ – $ – $ 9,286 Debt 41,215 – – – 41,215 Equities 11,496 – – – 11,496 Funds: Alternative investments – – – 6,640 6,640 Debt 7,268 58,876 – 236,553 302,697 Equity 58,773 55,692 – 6,434 120,899 Other – 4,218 – – 4,218 Total $ 128,038 $ 118,786 $ – $ 249,627 $ 496,451 As of December 31, 2022 Level 1 Level 2 Level 3 NAV (a) Total Assets: Cash $ 18,084 $ – $ – $ – $ 18,084 Debt 79,505 – – – 79,505 Equities 15,480 – – – 15,480 Funds: Alternative investments – – – 9,113 9,113 Debt 6,350 – – 220,141 226,491 Equity 49,041 49,297 – 7,138 105,476 Other – 14,723 – – 14,723 Total $ 168,460 $ 64,020 $ – $ 236,392 $ 468,872 _____________________ (a) Represents certain investments measured at NAV or its equivalent as a practical expedient in determining fair value. In accordance with current accounting guidance, these investments have not been classified in the fair value hierarchy. Included in equity funds are $63,927 and $54,810 as of December 31, 2023 and 2022, respectively, that are invested in funds managed by the Company. Consistent with the plans’ investment strategies, at December 31, 2023 and 2022, the Company’s U.S. pension plan had 50% and 57%, respectively, of the plans’ assets invested in equity funds in Level 1 and measured at NAV or its equivalent as a practical expedient, 47% and 42%, respectively, invested in Level 1 debt funds, and at December 31, 2023 and 2022, 3% and 1%, respectively, invested in cash, which is a Level 1 asset. The Company’s non-U.S. pension plans at December 31, 2023 and 2022 had 26% and 25%, respectively, of the plans’ assets invested in equities and equity funds that are primarily Level 1 and Level 2 assets; 70% and 66%, respectively, of the plans’ assets invested in debt and debt funds that are Level 1, Level 2 and measured at NAV or its equivalent as a practical expedient, and 4% and 9%, respectively, of the plans’ assets invested in cash, which is a Level 1 asset, other investments, which is a Level 2 asset, or in alternative investment funds that are primarily measured at NAV. Investment Policies and Strategies —The primary investment goal is to ensure that the pension plans remain well funded, taking account of the likely future risks to investment returns and contributions. As a result, a portfolio of assets is maintained with appropriate liquidity and diversification that can be expected to generate long-term future returns that minimize the long-term costs of the pension plans without exposing the plans to an unacceptable risk of under-funding. The Company’s likely future ability to pay such contributions as are required to maintain the funded status of the plans over a reasonable time period is considered when determining the level of risk that is appropriate. The fair value of plan investments classified as Level 1 assets are based on market quotes. The fair value of plan investments classified as Level 2 assets 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. The fair value of plan investments measured at NAV or its equivalent as a practical expedient is determined based on information provided by external fund administrators and such investments are redeemable in the near term. Defined Contribution Plans —Pursuant to certain matching contributions, the Company contributes to employer sponsored defined contribution plans. Such contributions amounted to $22,190, $19,636 and $17,764 for the years ended December 31, 2023, 2022 and 2021, respectively, which are included in “compensation and benefits” expense on the consolidated statements of operations.

Cost-Savings Initiatives

Cost-Savings Initiatives	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Cost-Savings Initiatives	COST-SAVING INITIATIVES The Company conducted firm-wide cost-saving initiatives that will continue through the first quarter of 2024. Expenses and losses associated with the cost-saving initiatives for the year ended December 31, 2023 consisted of the following: Year Ended December 31, 2023 Financial Advisory Asset Management Corporate Total Severance and other employee $ 94,457 $ 49,152 $ 34,732 $ 178,341 Technology asset impairments 144 7,877 – 8,021 Foreign exchange related losses 2,411 – 3,054 5,465 Other 2,230 470 2,291 4,991 Total $ 99,242 $ 57,499 $ 40,077 $ 196,818 Additional compensation and benefits expense of approximately $40,000 was incurred in the first quarter of 2024. Activity related to the obligations pursuant to the cost-saving initiatives during the year ended December 31, 2023 was as follows: Accrued Compensation and Benefits Other Total Balance, January 1, 2023 $ – $ – $ – Total expenses 178,341 18,477 196,818 Less: Noncash expenses (a) 32,757 11,213 43,970 Payments and settlements 94,238 6,312 100,550 Balance, December 31, 2023 $ 51,346 $ 952 $ 52,298 ___________________________________ (a) Noncash expenses reflected in “accrued compensation and benefits” activity principally represents accelerated amortization of deferred incentive compensation awards. Noncash expenses reflected in “other” activity principally relates to technology asset impairments and certain foreign exchange related losses.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	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 Unincorporated Business Tax (“UBT”) attributable to its operations apportioned to New York City. The components of the Company’s provision for income taxes for the years ended December 31, 2023, 2022 and 2021, and a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rates for such years, are shown below. Year Ended December 31, 2023 2022 2021 Current: Federal $ 169 $ 248 $ (3,808) Foreign 53,131 71,800 98,142 State and local 2,731 5,810 1,495 Total current 56,031 77,858 95,829 Deferred: Federal (57) 5 82 Foreign (5,045) 3,299 5,081 State and local (1,870) 491 695 Total deferred (6,972) 3,795 5,858 Total $ 49,059 $ 81,653 $ 101,687 Year Ended December 31, 2023 2022 2021 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % Rate benefit for U.S. Partnership operations (21.0) (21.0) (21.0) Foreign taxes (43.5) 15.0 13.3 State and local taxes – 1.0 0.7 Uncertain tax positions (0.9) (0.3) (0.3) Other (0.1) – (0.5) Effective income tax rate (44.5 %) 15.7 % 13.2 % See Note 22 regarding “operating income (loss)” by geographic region. Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated statements of financial condition. These temporary differences result in taxable or deductible amounts in future years. Details of the Company’s deferred tax assets and liabilities are as follows: December 31, 2023 2022 Deferred Tax Assets: Basis adjustments (a) $ – $ 22 Compensation and benefits 73,722 63,334 Net operating loss and tax credit carryforwards 80,795 76,509 Depreciation and amortization 5,520 5,041 Other 10,463 9,111 Gross deferred tax assets 170,500 154,017 Valuation allowance (79,127) (80,347) Deferred tax assets (net of valuation allowance) 91,373 73,670 Deferred Tax Liabilities: Depreciation and amortization 3,787 4,476 Compensation and benefits 21,500 22,927 Goodwill 1,742 1,512 Other 15,976 11,074 Deferred tax liabilities 43,005 39,989 Net deferred tax assets $ 48,368 $ 33,681 _____________________ (a) The basis adjustments recorded as of December 31, 2023 and 2022 are primarily the result of additional basis from acquisitions of interests. The historical profitability of each tax-paying entity is an important factor in determining whether to record a valuation allowance and when to release any such allowance. Certain of our tax-paying entities have individually experienced losses on a cumulative three year basis or have tax attributes that may expire unused. In addition, some of our tax-paying entities have recorded a valuation allowance on substantially all of their deferred tax assets due to the combined effect of operating losses in certain subsidiaries of these entities as well as foreign taxes that together substantially offset any U.S. tax liability. Taking into account all available information, we cannot determine that it is more likely than not that deferred tax assets held by these entities will be realized. Consequently, we have recorded valuation allowances on $79,127 and $80,347 of deferred tax assets held by these entities as of December 31, 2023 and 2022, respectively. Changes in the deferred tax assets valuation allowance for the years ended December 31, 2023, 2022 and 2021 was as follows: Year Ended December 31, 2023 2022 2021 Beginning Balance $ 80,347 $ 79,129 $ 76,728 Charged (credited) to provision for income taxes (474) 6,844 4,400 Charged (credited) to other comprehensive income and other (746) (5,626) (1,999) Ending Balance $ 79,127 $ 80,347 $ 79,129 The Company had net operating loss and tax credit carryforwards for which related deferred tax assets of $80,795 were recorded at December 31, 2023 primarily relating to: (i) indefinite-lived net operating loss carryforwards (subject to various limitations) of approximately $27,000 in Australia, Brazil, Germany, Hong Kong, Luxembourg, Saudi Arabia, Singapore; and (ii) carryforwards of approximately $47,000 that expire in different periods, including U.S. foreign tax credits of $5,600 that begin to expire in 2024 and are fully offset by a valuation allowance. With few exceptions, the Company is no longer subject to income tax examination by foreign tax authorities and by U.S. federal, state and local tax authorities for years prior to 2017. While the Company is under examination in various tax jurisdictions with respect to certain open years, the Company does not expect that the result of any final determination related to these examinations will have a material impact on its financial statements. Developments with respect to such examinations are monitored on an ongoing basis and adjustments to tax liabilities are made as appropriate. A reconciliation of the beginning to the ending amount of gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2023, 2022 and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Balance, January 1 (excluding interest and penalties of $17,855, $18,442 and $18,745, respectively) $ 52,877 $ 53,507 $ 55,725 Increases in gross unrecognized tax benefits relating to tax positions taken during: Prior years 265 257 165 Current year 11,658 13,273 11,841 Decreases in gross unrecognized tax benefits relating to: Tax positions taken during prior years (837) (975) (5,774) Settlements with tax authorities (243) (43) (134) Lapse of the applicable statute of limitations (9,733) (13,142) (8,316) Balance, December 31 (excluding interest and penalties of $18,446, $17,855 and $18,442, respectively) $ 53,987 $ 52,877 $ 53,507 Additional information with respect to unrecognized tax benefits is as follows: Year Ended December 31, 2023 2022 2021 Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $18,446, $17,855 and $18,442, respectively) $ 60,225 $ 59,202 $ 61,452 Unrecognized tax benefits that, if recognized, would not affect the effective tax rate $ 12,208 $ 11,530 $ 10,497 Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $5,446, $6,344 and $5,210, respectively) $ 591 $ (587) $ (303) The Company anticipates that it is reasonably possible that approximately $9,700 of unrecognized tax benefits, including interest and penalties recorded at December 31, 2023, may be recognized within 12 months as a result of the lapse of the statute of limitations in various tax jurisdictions.

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIES Receivable from and Payable to Lazard Ltd Subsidiaries The partial settlement of the interest-bearing loans as of December 31, 2021 of $10,536 reflects the transfer of 241,235 shares of common stock from Lazard Group to a subsidiary of Lazard Ltd. Such amount was reflected in members’ equity as of December 31, 2021 and was a non-cash transaction. Sponsored Funds The Company serves as an investment advisor for certain affiliated investment companies and fund entities and receives management fees and, for the alternative investment funds, performance-based incentive fees for providing such services. Asset management fees relating to such services were $538,457, $592,985 and $708,900 for the years ended December 31, 2023, 2022 and 2021, respectively, and are included in “asset management fees” on the consolidated statements of operations. Of such amounts, $67,598 and $57,283 remained as receivables at December 31, 2023 and 2022, respectively, and are included in “fees receivable” on the consolidated statements of financial condition. Other See Note 15 for information regarding related party transactions pertaining to shares repurchased from certain of our executive officers.

Regulatory Authorities

Regulatory Authorities	12 Months Ended
	Dec. 31, 2023
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Regulatory Authorities	REGULATORY AUTHORITIES LFNY is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Exchange Act. Under the basic method permitted by this rule, the minimum required net capital, as defined, is a specified fixed percentage (6 2/3%) of total aggregate indebtedness recorded in LFNY’s Financial and Operational Combined Uniform Single (“FOCUS”) report filed with the Financial Industry Regulatory Authority (“FINRA”), or $5, whichever is greater. In addition, the ratio of aggregate indebtedness (as defined) to net capital may not exceed 15:1. At December 31, 2023, LFNY exceeded its minimum requirement for regulatory net capital of $6,529, and was in compliance with its aggregate indebtedness to net capital ratio requirement. 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 December 31, 2023, the aggregate regulatory net capital of the U.K. Subsidiaries was $220,204, which exceeded the minimum requirement by $154,383. CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”) for its banking activities conducted through its subsidiary, LFB. LFB, as a registered bank, is engaged primarily in commercial and private banking services for clients and funds managed by LFG (asset management) and other clients, and asset-liability management. The investment services activities exercised through LFB and other subsidiaries of CFLF, primarily LFG, also are subject to regulation and supervision by the Autorité des Marchés Financiers. At December 31, 2023, the consolidated regulatory net capital of CFLF was $156,703, which exceeded the minimum requirement set for regulatory capital levels by $62,519. 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. In 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. At December 31, 2023, the regulatory net capital of the combined European regulated group was $181,665, which exceeded the minimum requirement set for regulatory capital levels by $78,796. 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. 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 December 31, 2023, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $143,682, which exceeded the minimum required capital by $120,239. At December 31, 2023, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company’s reportable segments offer different products and services and are managed separately, as different levels and types of expertise are required to effectively manage the segments’ transactions. Each segment is reviewed to determine the allocation of resources and to assess its performance. The Company’s principal operating activities are included in its Financial Advisory and Asset Management business segments as described in Note 1. In addition, as described in Note 1, the Company records selected other activities in its Corporate segment. The Company’s segment information for the years ended December 31, 2023, 2022 and 2021 is prepared using the following methodology: • Revenue and expenses directly associated with each segment are included in determining operating income. • Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including revenue, headcount, square footage and other factors. • Segment assets are based on those directly associated with each segment, and include an allocation of certain assets relating to various segments, based on the most relevant measures applicable, including headcount, square footage and other factors. The Company records other revenue, interest income and interest expense among the various segments based on the segment in which the underlying asset or liability is reported. Each segment’s operating expenses include (i) compensation and benefits expenses incurred directly in support of the businesses and (ii) other operating expenses, which include directly incurred expenses for occupancy and equipment, marketing and business development, technology and information services, professional services, fund administration and outsourced services and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, human resources, legal, information technology, facilities management and senior management activities. For the years ended December 31, 2023, 2022 and 2021, no individual client constituted more than 10% of the net revenue of any of the Company’s business segments. 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: Year Ended December 31, 2023 2022 2021 Financial Advisory Net Revenue $ 1,384,341 $ 1,655,596 $ 1,794,132 Operating Expenses (a) 1,483,427 1,292,382 1,345,849 Operating Income (Loss) $ (99,086) $ 363,214 $ 448,283 Asset Management Net Revenue $ 1,151,496 $ 1,204,927 $ 1,424,985 Operating Expenses (a) 1,011,574 963,640 1,032,825 Operating Income $ 139,922 $ 241,287 $ 392,160 Corporate Net Revenue (Loss) $ (19,609) $ (96,234) $ 4,092 Operating Expenses (Credit) (a) 131,411 (12,534) 73,872 Operating Loss $ (151,020) $ (83,700) $ (69,780) Total Net Revenue $ 2,516,228 $ 2,764,289 $ 3,223,209 Operating Expenses (a) 2,626,412 2,243,488 2,452,546 Operating Income (Loss) $ (110,184) $ 520,801 $ 770,663 _____________________ (a) Operating expenses include depreciation and amortization of property as set forth in table below. Year Ended December 31, 2023 2022 2021 Financial Advisory $ 8,511 $ 8,669 $ 8,180 Asset Management 6,476 9,390 5,618 Corporate 27,860 23,978 24,216 Total $ 42,847 $ 42,037 $ 38,014 December 31, 2023 2022 Total Assets Financial Advisory $ 1,131,657 $ 1,074,278 Asset Management (b) 1,232,364 1,786,830 Corporate (b) 1,866,304 2,600,691 Total $ 4,230,325 $ 5,461,799 _____________________ (b) Effective December 31, 2023, certain assets, primarily “deposits with banks and short-term investments”, previously reported in the Corporate segment are reported in the Asset Management segment resulting from a change in the segment in which such assets are managed. Comparable prior year information has been recast to reflect the updated presentation. Geographic Information Due to the highly integrated nature of international financial markets, the Company manages its business based on the profitability of the enterprise as a whole, not by geographic region. The Company’s revenue and total assets are generally allocated based on the country or domicile of the legal entity providing the service. The following table sets forth the net revenue from, and total assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above. In the table below, Americas principally includes the U.S., EMEA principally includes the U.K. and France, and Asia Pacific principally includes Australia. Year Ended December 31, 2023 2022 2021 Net Revenue: Americas $ 1,193,795 $ 1,477,774 $ 1,810,976 EMEA 1,162,052 1,136,636 1,251,058 Asia Pacific 160,381 149,879 161,175 Total $ 2,516,228 $ 2,764,289 $ 3,223,209 Operating Income: Americas $ (255,084) $ 239,593 $ 446,731 EMEA 108,058 248,404 295,991 Asia Pacific 36,842 32,804 27,941 Total $ (110,184) $ 520,801 $ 770,663 December 31, 2023 2022 Total Assets: Americas $ 2,403,506 $ 3,067,477 EMEA 1,679,644 2,218,147 Asia Pacific 147,175 176,175 Total $ 4,230,325 $ 5,461,799

Consolidated VIEs

Consolidated VIEs	12 Months Ended
	Dec. 31, 2023
Variable Interest Entity, Measure of Activity [Abstract]
Consolidated VIEs	CONSOLIDATED VIEs The Company’s consolidated VIEs as of December 31, 2022 include LGAC (see Note 1) and as of December 31, 2023 and 2022 include certain funds (“LFI Consolidated Funds”) that were established for the benefit of employees participating in the Company’s existing LFI deferred compensation arrangement. Lazard invests in these funds and is the investment manager and is therefore deemed to have both the power to direct the most significant activities of the funds and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to these funds. The assets of LFI Consolidated Funds, except as it relates to $113,174 and $115,666 of LFI Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the consolidated statements of financial condition consist of the following at December 31, 2023 and 2022. December 31, 2023 2022 ASSETS Cash and cash equivalents $ 4,627 $ 3,644 Customers and other receivables 23,277 240 Investments 196,112 186,300 Other assets 683 622 Total assets $ 224,699 $ 190,806 LIABILITIES Deposits and other customer payables $ 23,498 $ 528 Other liabilities 353 448 Total liabilities $ 23,851 $ 976

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of Registrant (Parent Company Only)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule I - Condensed Financial Information of Registrant (Parent Company Only)	(parent company only) CONDENSED STATEMENTS OF FINANCIAL CONDITION DECEMBER 31, 2023 AND 2022 (dollars in thousands) December 31, 2023 2022 ASSETS Cash and cash equivalents $ 43,924 $ 142,793 Due from subsidiaries of Lazard Ltd 641,063 509,375 Other receivables, net 1,527 12,658 Investments in subsidiaries, equity method 1,407,434 1,441,091 Other investments 226,610 234,371 Property, net 80,208 85,669 Operating lease right-of-use assets 290,791 295,369 Goodwill and other intangible assets, net 148,796 148,796 Other assets 113,021 74,192 Total assets $ 2,953,374 $ 2,944,314 LIABILITIES AND MEMBERS’ EQUITY Liabilities: Accrued compensation and benefits $ 263,022 $ 190,837 Due to subsidiaries of Lazard Ltd 477,896 313,080 Operating lease liabilities 354,936 361,396 Senior debt 1,690,200 1,687,714 Other liabilities 31,440 32,918 Total liabilities 2,817,494 2,585,945 Commitments and contingencies MEMBERS’ EQUITY Members' equity 410,311 638,956 Accumulated other comprehensive loss, net of tax (274,431) (280,587) Total members’ equity 135,880 358,369 Total liabilities and members' equity $ 2,953,374 $ 2,944,314 (parent company only) CONDENSED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 (dollars in thousands) Year Ended December 31, 2023 2022 2021 REVENUE Equity in earnings of subsidiaries $ 56,147 $ 607,764 $ 827,651 Interest income 2,845 2,999 327 Other 12,668 (20,255) 55,709 Total revenue 71,660 590,508 883,687 Interest expense 83,555 75,978 74,210 Net revenue (loss) (11,895) 514,530 809,477 OPERATING EXPENSES Compensation and benefits 135,823 97,797 142,260 Professional services 17,202 7,720 6,457 Other 13,129 1,056 4,505 Total operating expenses 166,154 106,573 153,222 OPERATING INCOME (LOSS) (178,049) 407,957 656,255 Provision (benefit) for income taxes (633) 3,775 1,760 NET INCOME (LOSS) $ (177,416) $ 404,182 $ 654,495 (parent company only) CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 (dollars in thousands) Year Ended December 31, 2023 2022 2021 NET INCOME (LOSS) $ (177,416) $ 404,182 $ 654,495 OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: Currency translation adjustments: Currency translation adjustments before reclassification 30,720 (63,779) (48,401) Adjustment for items reclassified to earnings 2,413 32 (7,516) Employee benefit plans: Actuarial gain (loss) (net of tax expense (benefit) of $(7,657), $(5,437) and $11,912 for the years ended December 31, 2023, 2022 and 2021, respectively) (24,459) (11,955) 34,666 Prior service cost (net of tax benefit of $2,567 for the year ended December 31, 2023) (7,751) – – Adjustments for items reclassified to earnings (net of tax expense of $1,521, $994 and $1,609 for the years ended December 31, 2023, 2022 and 2021, respectively) 5,233 4,152 5,660 OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX 6,156 (71,550) (15,591) COMPREHENSIVE INCOME (LOSS) $ (171,260) $ 332,632 $ 638,904 (parent company only) CONDENSED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 (dollars in thousands) Year Ended December 31, 2023 2022 2021 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (177,416) $ 404,182 $ 654,495 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in earnings of subsidiaries (56,147) (607,764) (827,651) Deferred tax provision (benefit) (608) 443 271 Amortization of deferred expenses and share-based 358,720 341,317 346,981 Depreciation and amortization of property 10,719 12,722 10,775 Noncash lease expense 23,211 23,996 22,603 Impairment of equity method investments and other 19,129 – – Distributions received from subsidiaries 173,848 757,968 651,362 Changes in operating assets and liabilities: Due to/from subsidiaries 30,994 16,806 80,921 Other investments (123,345) 223,106 (352,359) Other operating assets and liabilities 24,591 (95,530) (21,778) Net cash provided by operating activities 283,696 1,077,246 565,620 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to property (8,422) (3,912) (4,123) Capital contribution to subsidiaries (44,420) (6,257) (26,168) Other investing activities – (7,500) – Net cash used in investing activities (52,842) (17,669) (30,291) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from: Contributions from members – – 14,000 Other financing activities 450 50 – Payments for: Distributions to members (161,984) (228,045) (233,234) Settlement of share-based incentive compensation (54,528) (61,916) (68,012) Purchase of Lazard Ltd Class A common stock (102,051) (691,705) (406,149) Other financing activities (11,610) (11,012) (8,429) Net cash used in financing activities (329,723) (992,628) (701,824) Net increase (decrease) in cash and cash equivalents (98,869) 66,949 (166,495) Cash and cash equivalents, January 1 142,793 75,844 242,339 Cash and cash equivalents, December 31 $ 43,924 $ 142,793 $ 75,844

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (177,416)	$ 404,182	$ 654,495

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Organization	Organization The accompanying consolidated financial statements are those of Lazard Group LLC and its subsidiaries (collectively referred to as “Lazard Group”, “we” or the “Company”). Lazard Group is a Delaware limited liability company, which as of December 31, 2022 was governed by an Amended and Restated Operating Agreement dated as of February 4, 2019. Such operating agreement was subsequently amended and restated effective as of January 1, 2023 (as so amended and restated, 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 that specializes in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, governments, institutions, partnerships and individuals. Lazard Ltd indirectly held 100% of all outstanding Lazard Group common membership interests as of December 31, 2023 and 2022. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group. On January 1, 2024, Lazard Ltd completed its conversion (the “Conversion”) from an exempted company incorporated under the laws of Bermuda named Lazard Ltd to a U.S. C-Corporation named Lazard, Inc. Lazard Group’s principal operating activities are included in two business segments: • Financial Advisory, which offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a wide array of financial advisory services regarding strategic and mergers and acquisitions (“M&A”) advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory matters and capital raising and placement, and • Asset Management, which offers a broad range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. In addition, we record selected other activities in our Corporate segment, including management of cash, investments, outstanding indebtedness, and certain assets and liabilities associated with a special purpose acquisition company that was sponsored by an affiliate of the Company, Lazard Growth Acquisition Corp. I (“LGAC”).
Basis of Presentation	Basis of Presentation The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates: • Voting interest entities (“VOEs”) where the Company holds a majority of the voting interest in such VOEs, and • Variable interest entities (“VIEs”) where the Company is the primary beneficiary having the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of, or receive benefits from, the VIE that could be potentially significant to the VIE (see Note 23). When the Company does not have a controlling interest in an entity, but exerts significant influence over such entity’s operating and financial decisions, the Company either (i) applies the equity method of accounting in which it records a proportionate share of the entity’s net earnings or losses or (ii) elects the option to measure its investment at fair value. Intercompany transactions and balances have been eliminated. The consolidated financial statements include Lazard Group and Lazard Group’s principal operating subsidiaries: Lazard Frères & Co. LLC (“LFNY”), a New York limited liability company, along with its subsidiaries, including Lazard Asset Management LLC and its subsidiaries (collectively referred to as “LAM”); the French limited liability companies Compagnie Financière Lazard Frères SAS (“CFLF”), along with its subsidiaries, Lazard Frères Banque SA (“LFB”) and Lazard Frères Gestion SAS (“LFG”), and Maison Lazard SAS and its subsidiaries; and Lazard & Co., Limited (“LCL”), through Lazard & Co., Holdings Limited (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries.
Foreign Currency	Foreign Currency— The consolidated financial statements are presented in U.S. Dollars. Many of the Company’s non-U.S. subsidiaries have a functional currency ( i.e. , the currency in which operational activities are primarily conducted) that is other than the U.S. Dollar, generally the currency of the country in which such subsidiaries are domiciled. Such subsidiaries’ assets and liabilities are translated into U.S. Dollars at year-end exchange rates, while revenue and expenses are translated at average exchange rates during the year based on the daily closing exchange rates. Adjustments that result from translating amounts from a subsidiary’s functional currency to U.S. Dollars are reported in “accumulated other comprehensive income (loss), net of tax” (“AOCI”). Foreign currency remeasurement gains and losses on transactions in non-functional currencies are included on the consolidated statements of operations. Foreign currency remeasurement gains (losses), net of gains and losses from forward foreign currency exchange rate contracts (see Note 8) amounted to $(5,531), $778 and $(952) for the years ended December 31, 2023, 2022 and 2021, respectively, and are included in “revenue-other” on the respective consolidated statements of operations.
Use of Estimates	Use of Estimates— The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of management’s estimates. In preparing the consolidated financial statements, management makes estimates and assumptions regarding: • valuations of assets and liabilities requiring fair value estimates including, but not limited to, investments, derivatives and assumptions used to value pension and other post-retirement plans; • the assessment of probability with respect to recognizing revenue; • the discount rate used to measure operating lease right-of-use assets and operating lease liabilities; • the adequacy of the allowance for credit losses; • the realization of deferred tax assets and adequacy of tax reserves for uncertain tax positions; • the outcome of litigation; • the carrying amount of goodwill and other intangible assets; • the vesting of share-based and other deferred compensation plan awards; and • other matters that affect the reported amounts and disclosure of contingencies in the consolidated financial statements. Estimates, by their nature, are based on judgment and available information. Therefore, actual results could differ from those estimates and could have a material impact on the consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents—
Deposits with Banks and Short-Term Investments	Deposits with Banks and Short-Term Investments— Represents LFB’s short-term deposits, including with the Banque de France and amounts placed by LFB in short-term, highly liquid securities with original maturities of 90 days or less when purchased. The level of these deposits and investments may be driven by the level of LFB demand deposits (which can fluctuate significantly on a daily basis) and by changes in asset allocation.
Restricted Cash	Restricted Cash—
Receivables and Allowance for Credit Losses	Receivables and Allowance for Credit Losses— The Company’s receivables represent fee receivables, amounts due from customers and other receivables. The fee receivables are generally due within 60 days from the date of invoice, except as related to certain restructuring services and certain capital raising activities where fees are due upon specified contractual payment terms. For customer loans within customers and other receivables, the Company has elected to apply the practical expedient, in accordance with the current expected credit losses (“CECL”) guidance for financial assets with collateral maintenance provisions, which generally results in no expected credit losses given that these loans are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans. Receivables are stated net of an estimated allowance for credit losses determined in accordance with the CECL model, for general credit risk of the overall portfolio and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. For fee receivables, the allowance for credit losses is determined together for all Financial Advisory fees, except for Private Capital Advisory given the different nature of the business, client composition, and risk characteristics. An allowance for credit losses is determined separately for Private Capital Advisory. In addition, a separate allowance for credit losses is determined for all Asset Management fees. The allowances are measured by the application of an average charge-off rate, determined annually based on historical bad debt charge-off experience, to the fee receivable balance of the respective services, adjusted for the specific allowance recognized based on current conditions of individual clients. The current conditions are considered on a quarterly basis and include the aging of the receivables, the client’s ability to make payments, and the Company’s relationship with the client. In addition, the Company also performs a qualitative assessment on a quarterly basis to monitor economic factors and other uncertainties that may require additional adjustment to the expected credit losses allowance. Financial Advisory and Asset Management fee receivables are generally deemed past due when they are outstanding 60 days from the date of invoice, except for certain transactions that include specific contractual payment terms that may vary from approximately one month to four years following the invoice date (as is the case for certain Private Capital Advisory fees) or may be subject to court approval (as is the case with Restructuring activities that include bankruptcy proceedings). In such cases, receivables are deemed past due when payment is not received by the agreed-upon contractual date or the court approval date, respectively. Financial Advisory and Asset Management fee receivables past due in excess of 180 days and 10 months, respectively, are generally fully provided for unless there is evidence that the balance is collectible. Notwithstanding our policy for receivables past due, any specific receivables that are deemed uncollectible result in specific reserves against such exposures. See Note 5 for additional information regarding the Company’s receivables and allowance for credit losses.
Investments	Investments— Investments in debt and marketable equity securities held either directly, or indirectly through asset management funds are accounted for at fair value, with any increase or decrease in fair value recorded in earnings. Such amounts are reflected in “revenue-other” in the consolidated statements of operations. Investments also include interests in alternative investment funds and private equity funds, each accounted for at fair value, and investments accounted for under the equity method of accounting. Any increases or decreases in the carrying value of the investments accounted for at fair value and the Company’s share of net income or losses pertaining to its equity method investments are reflected in “revenue-other” in the consolidated statements of operations. Additionally, equity method investments are tested for impairment if circumstances indicate impairment may have occurred. Impairment charges are reflected in “revenue-other” in the consolidated statements of operations. Dividend income is reflected in “revenue-other” in the consolidated statements of operations. Securities transactions and the related revenue and expenses are recorded on a “trade date” basis. See Notes 6 and 7 for additional information regarding the Company’s investments.
Property-net	Property-net— Property is stated at cost less accumulated depreciation and amortization. Buildings are depreciated on a straight-line basis over their estimated useful lives. Leasehold improvements are capitalized and are amortized over the lesser of the economic useful life of the improvement or the term of the lease. Depreciation of furniture and equipment, including computer hardware and software, is determined on a straight-line basis using estimated useful lives. Depreciation and amortization expenses aggregating $42,847, $42,037 and $38,014 for the years ended December 31, 2023, 2022 and 2021, respectively, are included on the consolidated statements of operations in “occupancy and equipment” or “technology and information services”, depending on the nature of the underlying asset. Repairs and maintenance are expensed as incurred.
Operating Lease Right-of-use Assets and Operating Lease Liabilities	Operating Lease Right-of-use Assets and Operating Lease Liabilities— The Company determines if an arrangement is, or contains, a lease at its inception and reevaluates the arrangement if the terms are modified. Operating lease right-of-use assets (“ROU assets”) represent the right to use an underlying asset for the lease term and operating lease liabilities reflect the obligation to make lease payments arising from the lease. At any given time during the lease term, the operating lease liability represents the present value of the remaining lease payments and the operating lease ROU asset is measured at the amount of the lease liability, adjusted for rent prepayments, unamortized initial direct costs and the remaining balance of lease incentives received. Both the operating lease ROU asset and the operating lease liability are reduced to zero at the end of the lease. See Note 10 for additional information regarding the Company’s ROU assets and operating lease liabilities.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets— Goodwill has an indefinite life and is tested for impairment annually, as of November 1, or more frequently if circumstances indicate impairment may have occurred. The Company performs a qualitative assessment about whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount in lieu of actually calculating the fair value of the reporting unit. If events indicate that it is more likely than not that a reporting unit’s fair value is less than its carrying value, the Company performs a quantitative assessment to determine the fair value of the reporting unit and compares it to its carrying value. If the carrying value of a reporting unit exceeds its fair value, the Company would recognize an impairment loss equal to the excess. Intangible assets that are not deemed to have an indefinite life are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The pattern of amortization reflects the timing of the realization of the economic benefits of such intangible assets. For acquired customer contracts, the period of realization is deemed to be the period when the related revenue is recognized. The impairment analysis is performed by comparing the carrying value of the intangible asset being reviewed for impairment to the current and expected future cash flows expected to be generated from such asset on an undiscounted basis, including eventual disposition. An impairment loss would be measured for the amount by which the carrying amount of the intangible asset exceeds its fair value.
Derivative Instruments	Derivative Instruments— A derivative is typically defined as a financial instrument whose value is “derived” from underlying assets, indices or reference rates, such as a future, forward, swap, warrant or option contract, or other financial instrument with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount ( e.g. , interest rate swaps or currency forwards) or to purchase or sell other financial instruments at specified terms on a specified date ( e.g. , options to buy or sell securities or currencies). 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, in which case the Company would net the applicable assets and liabilities and related receivable and payable for net cash collateral under such contracts. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the consolidated statements of financial condition. Gains and losses on the Company’s derivative instruments are generally included in “interest income” and “interest expense” or “revenue-other”, depending on the nature of the underlying item, in the consolidated statements of operations. In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests (“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 consolidated statements of financial condition. Changes in the fair value of the derivative liabilities are included in “compensation and benefits” in the 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 consolidated statements of operations. For information regarding LFI and other similar deferred compensation arrangements, see Notes 6, 8 and 16. For information regarding LGAC Warrants that are accounted for as derivative liabilities, see Notes 1 and 8. Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the consolidated statements of financial condition where the Company has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, amounts are not eligible for netting on the consolidated statements of financial condition, and those derivative assets and liabilities are shown separately in the table below. In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on the consolidated statements of financial condition.
Deposits and Other Customer Payables	Deposits and Other Customer Payables— Principally consists of LFB customer-related demand deposits.
Securities Sold, Not Yet Purchased	Securities Sold, Not Yet Purchased— Securities sold, not yet purchased represents liabilities for securities sold for which payment has been received and the obligations to deliver such securities are included within “other liabilities” in the consolidated statements of financial condition. These securities are accounted for at fair value, with any increase or decrease in fair value recorded in earnings in accordance with standard securities industry practices. Such gains and losses are reflected in “revenue-other” in the consolidated statements of operations
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities— The majority of the Company’s financial assets and liabilities are recorded at fair value or at amounts that approximate fair value. Such assets and liabilities include cash and cash equivalents, deposits with banks and short-term investments, restricted cash, receivables, investments (excluding investments accounted for under the equity method of accounting), derivative instruments, deposits and other customer payables.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests— See
Investment Banking and Other Advisory Fees	Investment Banking and Other Advisory Fees — Fees for Financial Advisory services are recorded when: (i) a contract with a client has been identified, (ii) the performance obligations in the contract have been identified, (iii) the fee or other transaction price has been determined, (iv) the fee or other transaction price has been allocated to each performance obligation in the contract, and (v) the Company has satisfied the applicable performance obligation. The expenses that are directly related to such transactions are recorded as incurred and presented within operating expenses when the Company is primarily responsible for fulfilling the promise of the arrangement. Revenues associated with the reimbursement of such expenses are recorded when the Company is contractually entitled to reimbursement and presented within investment banking and other advisory fees.
Asset Management Fees	Asset Management Fees —Fees for Asset Management services are primarily comprised of management fees and incentive fees. Management fees are derived from fees for investment management and other services provided to clients. Revenue is recorded in accordance with the same five criteria as Financial Advisory fees, which generally results in management fees being recorded on a daily, monthly or quarterly basis, primarily based on a percentage of client assets managed. Fees vary with the type of assets managed, with higher fees earned on equity assets, alternative investment (such as hedge fund) and private equity funds, and lower fees earned on fixed income and money market products. Expenses that are directly related to the sale or distribution of fund interests are recorded as incurred and presented within operating expenses when the Company is primarily responsible for fulfilling the promise of the arrangement. Revenues associated with the reimbursement of such expenses are recorded when the Company is contractually entitled to reimbursement and presented within asset management fees. In addition, the Company earns performance-based incentive fees on various investment products, including traditional products and alternative investment funds such as hedge funds and private equity funds. For hedge funds, incentive fees are calculated based on a specific percentage of a fund’s net appreciation, in some cases in excess of established benchmarks or thresholds. The Company records incentive fees on traditional products and hedge funds when a significant reversal in the amount of the cumulative revenue to be recognized is not probable, which is typically at the end of the relevant performance measurement period. The incentive fee measurement period is generally an annual period (unless an account is terminated during the year). The incentive fees received at the end of the measurement period are not subject to reversal or clawback. Incentive fees on hedge funds generally are subject to loss carryforward provisions in which losses incurred by the hedge funds in any year are applied against certain gains realized by the hedge funds in future periods before any incentive fees can be earned. For private equity funds, incentive fees may be earned in the form of a “carried interest” if profits arising from realized investments exceed a specified threshold. Typically, such carried interest is ultimately calculated on a whole-fund or investment by investment basis and, therefore, clawback of carried interest toward the end of the life of the fund can occur. As a result, the Company recognizes incentive fees earned on our private equity funds only when it is probable that a clawback will not occur.
Equity-Based Incentive Compensation Awards	Equity-Based Incentive Compensation Awards— Equity-based incentive compensation awards that do not require future service are expensed immediately. Equity-based compensation awards that require future service are expensed over the applicable requisite service period, based on the grant date fair value of the award. Compensation expense recognized for equity-based incentive compensation is determined based on the number of awards that in the Company’s estimate are considered probable of vesting (including as a result of any applicable performance conditions). Equity-based incentive compensation is primarily recognized in “compensation and benefits” expense.
Income Taxes	Income Taxes— Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Such temporary differences are reflected as “deferred tax assets” and “deferred tax liabilities” on the consolidated statements of financial condition. A deferred tax asset is recognized if it is more likely than not (defined as a likelihood of greater than 50%) that a tax benefit will be accepted by the relevant taxing authority. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized and, when necessary, a valuation allowance is established. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the following possible sources of taxable income when assessing the realization of deferred tax assets: • future reversals of existing taxable temporary differences; • future taxable income exclusive of reversing temporary differences and carryforwards; • taxable income in prior carryback years; and • tax-planning strategies. The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available information, including the following: • nature, frequency, magnitude and duration of any past losses and current operating results; • duration of statutory carryforward periods; • historical experience with tax attributes expiring unused; and • near-term and medium-term financial outlook. The Company records tax positions taken or expected to be taken in a tax return based upon the Company’s estimates regarding the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits in “provision for income taxes”. See Note 19 for additional information relating to income taxes.
Recent Accounting Developments	RECENT ACCOUNTING DEVELOPMENTS Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures —In November 2023, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about reportable segment’s expenses. The amendments include new annual and interim disclosure requirements primarily related to significant segment expenses, reportable segments’ profit or loss, and information on the chief operating decision maker. The new guidance is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments shall be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the new guidance. Income Taxes (Topic 740): Improvements to Income Tax Disclosures
Fair Value Measurements	Fair Value Hierarchy of Investments and Certain Other Assets and Liabilities —Lazard categorizes its investments and certain other assets and liabilities recorded at fair value into a three-level fair value hierarchy as follows: Level 1. Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that Lazard has the ability to access. Level 2. Assets and liabilities whose values are based on (i) quoted prices for similar assets or liabilities in an active market, or quoted prices for identical or similar assets or liabilities in non-active markets, or (ii) inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data. Level 3. Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis. The fair value of debt is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets. 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 interests in private companies are generally classified as Level 3. The fair value of investments in alternative investment funds, debt funds and equity funds is classified as Level 1 when the fair values are based on the publicly reported closing price for the fund, or Level 2 when based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. The fair value of investments in certain private equity funds is classified as Level 3 for (i) certain investments that are valued based on the potential transaction value and (ii) when the acquisition price is considered the best measure of fair value. The fair value of securities sold, not yet purchased, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets. The fair value of the contingent consideration liability is classified as Level 3. The contingent consideration liability is initially recorded at fair value on the acquisition date and is included in “other liabilities” on the consolidated statements of financial condition. The fair value of the contingent consideration liability is remeasured at each reporting period. The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods. Any change in the fair value is recognized in “amortization and other acquisition-related costs” in the consolidated statements of operations. Our business acquisitions may involve the potential payment of contingent consideration upon the achievement of certain performance thresholds. The fair value of derivatives classified as Level 1 is based on the listed market price of such instruments. The fair value of derivatives classified as Level 2 is based on the values of the related underlying assets, indices or reference rates as follows: the fair value of forward foreign currency exchange rate contracts is a function of the spot rate and the interest rate differential of the two currencies from the trade date to settlement date; the fair value of total return swaps is based on the change in fair value of the related underlying equity security, financial instrument or index and a specified notional holding; the fair value of interest rate swaps is based on the interest rate yield curve; and the fair value of derivative liabilities related to LFI and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. The fair value of derivatives classified as Level 3 is based on a Black-Scholes valuation model that utilizes both observable and unobservable inputs. Unobservable inputs include model adjustments for valuation uncertainty. See Note 8. Investments Measured at Net Asset Value (“NAV”) —As a practical expedient, the Company uses NAV or its equivalent to measure the fair value of certain investments. NAV is primarily determined based on information provided by external fund administrators. The Company’s investments valued at NAV as a practical expedient in (i) alternative investment funds, debt funds and equity funds are redeemable in the near term, and (ii) private equity funds are not redeemable in the near term as a result of redemption restrictions.
Employer Contributions to Pension Plans	Employer Contributions to Pension Plans —The Company’s funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans’ trustees. Management also evaluates from time to time whether to make voluntary contributions to the plans.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue Recognition [Abstract]
Schedule of Revenue Based on Business Segment Results	The Company disaggregates revenue based on its business segment results and believes that the following information provides a reasonable representation of how performance obligations relate to the nature, amount, timing and uncertainty of revenue and cash flows: Year Ended December 31, 2023 2022 2021 Net Revenue: Financial Advisory (a) $ 1,384,341 $ 1,655,596 $ 1,794,132 Asset Management: Management fees and other (b) $ 1,121,950 $ 1,137,583 $ 1,304,582 Incentive fees (c) 29,546 67,344 120,403 Total Asset Management $ 1,151,496 $ 1,204,927 $ 1,424,985 ________________________ (a) Financial Advisory is comprised of a wide array of financial advisory services regarding M&A advisory, capital markets advisory, shareholder advisory, restructuring and liability management, sovereign advisory, geopolitical advisory and other strategic advisory and capital raising and placement work for clients. The benefits of these advisory services are generally transferred to the Company’s clients over time, and consideration for these advisory services typically includes transaction completion, transaction announcement and retainer fees. Retainer fees are generally fixed and recognized over the period in which the advisory services are performed. However, transaction announcement and transaction completion fees are variable and subject to constraints, and they are typically not recognized until there is an announcement date or a completion date, respectively, due to the uncertainty associated with those events. Therefore, in any given period, advisory fees recognized for certain transactions may relate to services performed in prior periods. The advisory fees that may be unrecognized as of the end of a reporting period, primarily comprised of fees associated with transaction announcements and transaction completions, generally remain unrecognized due to the uncertainty associated with those events. (b) Management fees and other is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services generally includes management fees, which are based on assets under management and recognized over the period in which the management services are performed. The selling or distribution of fund interests is a separate performance obligation within management fees and other, and the benefits of such services are transferred to the Company’s clients at the point in time that such fund interests are sold or distributed. (c) Incentive fees is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services is generally variable and includes performance or incentive fees. The fees allocated to these management services that are unrecognized as of the end of the reporting period are generally amounts that are subject to constraints due to the uncertainty associated with performance targets and clawbacks.

Receivables and Allowance for_2

Receivables and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Activity in Allowance for Credit Losses	Activity in the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021 was as follows: Year Ended December 31, 2023 2022 2021 Beginning Balance $ 17,737 $ 33,955 $ 36,649 Bad debt expense, net of reversals 20,875 1,769 3,805 Charge-offs, foreign currency translation and other adjustments (10,109) (17,987) (6,499) Ending Balance $ 28,503 $ 17,737 $ 33,955

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments and Securities Sold, not yet Purchased	The Company’s investments consist of the following at December 31, 2023 and 2022: December 31, 2023 2022 Debt $ 4,285 $ – Equities 54,717 43,889 Funds: Alternative investments (a) 61,680 56,947 Debt (a) 191,325 178,556 Equity (a) 343,139 350,282 Private equity 46,818 53,822 642,962 639,607 Investments, at fair value 701,964 683,496 Equity method investments – 15,481 Total investments $ 701,964 $ 698,977 _______________________ (a) Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 23), with fair values of $27,454, $175,449 and $284,099, respectively, at December 31, 2023 and $24,137, $142,632 and $266,528, respectively, at December 31, 2022, held in order to satisfy the Company’s obligation upon vesting of previously granted LFI and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 8 and 16).
Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses	During the years ended December 31, 2023, 2022 and 2021, the Company reported in “revenue-other” on its consolidated statements of operations net unrealized investment gains and losses pertaining to equity securities and trading debt securities still held as of the reporting date as follows: Year Ended December 31, 2023 2022 2021 Net unrealized investment gains (losses) $ 54,228 $ (92,793) $ 14,154

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present, as of December 31, 2023 and 2022, 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: December 31, 2023 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Debt $ 4,285 $ – $ – $ – $ 4,285 Equities 54,224 – 493 – 54,717 Funds: Alternative investments 15,676 – – 46,004 61,680 Debt 180,907 10,413 – 5 191,325 Equity 343,094 – – 45 343,139 Private equity – – 273 46,545 46,818 Derivatives – 2,789 – – 2,789 Total $ 598,186 $ 13,202 $ 766 $ 92,599 $ 704,753 Liabilities: Securities sold, not yet purchased $ 4,809 $ – $ – $ – $ 4,809 Contingent consideration liability – – 6,583 – 6,583 Derivatives – 368,673 – – 368,673 Total $ 4,809 $ 368,673 $ 6,583 $ – $ 380,065 December 31, 2022 Level 1 Level 2 Level 3 NAV Total Assets: Investments: Equities $ 43,243 $ – $ 646 $ – $ 43,889 Funds: Alternative investments 27,073 – – 29,874 56,947 Debt 178,552 – – 4 178,556 Equity 350,242 – – 40 350,282 Private equity – – 18,772 35,050 53,822 Derivatives – 14,554 – – 14,554 Total $ 599,110 $ 14,554 $ 19,418 $ 64,968 $ 698,050 Liabilities: Securities sold, not yet purchased $ 4,651 $ – $ – $ – $ 4,651 Derivatives 115 327,045 – – 327,160 Total $ 4,766 $ 327,045 $ – $ – $ 331,811
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 years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equities $ 646 $ 54 $ – $ (281) $ 74 $ 493 Private equity funds 18,772 – – (18,508) 9 273 Total Level 3 assets $ 19,418 $ 54 $ – $ (18,789) $ 83 $ 766 Liabilities: Contingent consideration $ – $ 274 $ 7,754 $ (1,445) $ – $ 6,583 Total Level 3 liabilities $ – $ 274 $ 7,754 $ (1,445) $ – $ 6,583 Year Ended December 31, 2022 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equities $ 578 $ 99 $ – $ – $ (31) $ 646 Private equity funds 293 – 18,000 (13) 492 18,772 Total Level 3 assets $ 871 $ 99 $ 18,000 $ (13) $ 461 $ 19,418 Year Ended December 31, 2021 Beginning Net Unrealized/ Purchases/ Sales/ Foreign Ending Assets: Investments: Equities $ 1,671 $ (796) $ – $ (235) $ (62) $ 578 Private equity funds 1,486 951 – (2,121) (23) 293 Total Level 3 assets $ 3,157 $ 155 $ – $ (2,356) $ (85) $ 871 Liabilities: Derivatives $ – $ – $ 11,500 $ (11,500) $ – $ – Total Level 3 liabilities $ – $ – $ 11,500 $ (11,500) $ – $ – _____________________ (a) Earnings recorded in “ other revenue amortization and other acquisition-related costs (b) Transfers out of Level 3 private equity funds during the years ended December 31, 2023 and 2021 reflect investments valued at NAV as of December 31, 2023 and 2021. Transfers out of Level 3 derivatives during the year ended December 31, 2021 reflected transfers of derivative liabilities for LGAC Warrants to Level 1 principally due to a change in the inputs used to value these derivatives. (c) For the year ended December 31, 2023, acquisitions represent the initial recognition of the contingent consideration liability (noncash transaction), and settlements represent aggregate cash and noncash settlement of contingent consideration after the acquisition date.
Financial Instruments Not Measured at Fair Value	Financial Instruments Not Measured at Fair Value— The tables below present the carrying value, fair value and fair value hierarchy category of certain financial instruments as of December 31, 2023 and 2022 that are not measured at fair value in the Company’s consolidated statement of financial condition. December 31, 2023 Fair Value Measurements Using: Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 966,168 $ 966,168 $ 966,168 $ – $ – Deposits with banks and short-term investments 219,576 219,576 219,576 – – Restricted cash 34,091 34,091 34,091 – – Financing receivables 113,929 113,694 – – 113,694 Customer loans 86,412 86,412 – – 86,412 Other fees and customers and other receivables and amounts due from Lazard Ltd subsidiaries 644,429 644,429 644,429 – – Financial Liabilities: Deposits and other customer payables $ 443,262 $ 443,262 $ 443,262 $ – $ – Senior debt 1,690,200 1,651,726 – 1,651,726 – December 31, 2022 Carrying Value Fair Value Measurements Using: Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 1,180,473 $ 1,180,473 $ 1,180,473 $ – $ – Deposits with banks and short-term investments 779,246 779,246 779,246 – – Restricted cash 625,381 625,381 625,381 – – Financing receivables 97,964 98,362 – – 98,362 Customer loans 128,890 128,890 – – 128,890 Other fees and customers and other receivables and amounts due from Lazard Ltd subsidiaries 499,910 499,910 499,910 – – Financial Liabilities: Deposits and other customer payables $ 921,834 $ 921,834 $ 921,834 $ – $ – Senior debt 1,687,714 1,601,917 – 1,601,917 –
Fair Value of Certain Investments Based on NAV	The following tables present, at December 31, 2023 and 2022, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value: December 31, 2023 Investments Redeemable NAV Unfunded Commitments % of NAV Not Redeemable Redemption Frequency Redemption Notice Period Alternative investment funds: Hedge funds $ 45,324 $ – NA (a) 30-60 days Other 680 – NA (b) <30-30 days Debt funds 5 – NA (c) <30 days Equity funds 45 – NA (d) <30-60 days Private equity funds: Equity growth 46,545 5,505 (e) 100 % (f) NA NA Total $ 92,599 $ 5,505 ____________________ (a) monthly (74%) and quarterly (26%) (b) daily (4%) and monthly (96%) (c) daily (100%) (d) monthly (34%) and annually (66%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $9,605 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f) Distributions from each fund will be received as the underlying investments of the funds are liquidated. December 31, 2022 Investments Redeemable NAV Unfunded Commitments % of NAV Not Redeemable Redemption Frequency Redemption Notice Period Alternative investment funds: Hedge funds $ 29,259 $ – NA (a) 30-60 days Other 615 – NA (b) <30-30 days Debt funds 4 – NA (c) <30 days Equity funds 40 – NA (d) <30-60 days Private equity funds: Equity growth 35,050 5,455 (e) 100 % (f) NA NA Total $ 64,968 $ 5,455 ____________________ (a) monthly (68%) and quarterly (32%) (b) daily (5%) and monthly (95%) (c) daily (100%) (d) monthly (35%) and annually (65%) (e) Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,003 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders. (f)

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition	The tables below present the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 16) on the accompanying consolidated statements of financial condition as of December 31, 2023 and 2022. Notional amounts provide an indication of the volume of the Company's derivative activity. Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the consolidated statements of financial condition where the Company has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, amounts are not eligible for netting on the consolidated statements of financial condition, and those derivative assets and liabilities are shown separately in the table below. In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on the consolidated statements of financial condition. December 31, 2023 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 3,400 $ 283,635 $ 1,847 $ 170,704 Total return swaps and other 133 4,478 12,290 117,139 LFI and other similar deferred compensation arrangements – – 365,420 352,891 Total gross derivatives 3,533 $ 288,113 379,557 $ 640,734 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (604) (603) Total return swaps and other (140) (10,281) Net derivatives in "other assets" and "other liabilities" 2,789 368,673 Amounts not netted (a): Cash collateral – (243) Securities collateral – – $ 2,789 $ 368,430 December 31, 2022 Derivative Assets Derivative Liabilities Fair Value Notional Fair Value Notional Forward foreign currency exchange rate contracts $ 1,356 $ 170,103 $ 921 $ 128,098 Total return swaps and other 13,427 155,026 72 1,398 LGAC Warrants – – 115 11,500 LFI and other similar deferred compensation arrangements – – 326,282 338,126 Total gross derivatives 14,783 $ 325,129 327,390 $ 479,122 Counterparty and cash collateral netting: Forward foreign currency exchange rate contracts (157) (158) Total return swaps and other (72) (72) Net derivatives in "other assets" and "other liabilities" 14,554 327,160 Amounts not netted (a): Cash collateral – – Securities collateral – – $ 14,554 $ 327,160 _____________________ (a)
Schedule of Net Gains and (Losses) With Respect To Derivative Instruments (Including Derivatives Not Designed As Hedging Instruments)	Net gains (losses) with respect to derivative instruments (included in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021, were as follows: Year Ended December 31, 2023 2022 2021 Forward foreign currency exchange rate contracts $ (2,701) $ 4,721 $ 11,007 LFI and other similar deferred compensation arrangements (41,463) 44,261 (35,494) LGAC Warrants 115 9,890 1,495 Total return swaps and other (16,957) 23,212 (14,460) Total $ (61,006) $ 82,084 $ (37,452)

Property, Net (Tables)

Property, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Components of Property	At December 31, 2023 and 2022, property consisted of the following: Estimated December 31, 2023 2022 Buildings (a) 33 $ 170,830 $ 135,103 Leasehold improvements (a) 3-20 233,732 207,285 Furniture and equipment 3-10 230,713 235,684 Construction in progress 11,788 65,560 Total 647,063 643,632 Less - Accumulated depreciation and amortization (a) 414,547 393,595 Property, net $ 232,516 $ 250,037 ________________________ (a) The Company classified assets relating to an owned office building as held for sale as of December 31, 2023, the carrying amount of which was $72,921 (net of accumulated depreciation). The owned office building is available for immediate sale in its present condition and the Company expects the owned office building to be sold within one year. The property held for sale is reported within the Corporate segment. Effective January 1, 2024, depreciation expense will no longer be recorded on this asset.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Operating Lease Expense	The following table summarizes the components of operating lease expense reflected on the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Operating lease cost $ 80,001 $ 78,259 $ 86,023 Variable lease cost 23,404 20,968 21,056 Sublease income (934) (4,969) (7,303) Total $ 102,471 $ 94,258 $ 99,776
Schedule of Supplemental Cash Flow Information and Certain Other Information Related to Operating Leases	The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the years ended December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid for operating leases $ 81,530 $ 81,219 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 35,282 $ 33,531 Weighted average remaining lease term 8 years 9 years Weighted average discount rate 3.9 % 3.7 %
Schedule of Maturities of Operating Lease Liabilities Outstanding	Maturities of the operating lease liabilities outstanding at December 31, 2023 for each of the years in the period ending December 31, 2028 and thereafter are set forth in the table below. Year Ending December 31, 2024 $ 82,110 2025 72,983 2026 64,587 2027 63,123 2028 59,863 Thereafter 221,452 Total lease payments 564,118 Less - Discount 79,738 Operating lease liabilities $ 484,380
Schedule of Carrying Value of Assets Subject to Leases on Consolidated Statements of Financial Condition	The following table presents the carrying value of the assets subject to leases reported on the consolidated statements of financial condition : Year Ending December 31, 2023 Property, net $ 72,921 Accumulated depreciation $ 104,171
Schedule of Undiscounted Future Cash Inflows Under Operating Lease	The following table presents undiscounted future cash inflows under the operating lease as of December 31, 2023: Year Ending December 31, 2024 $ 2,758 2025 8,273 2026 8,273 2027 8,273 2028 8,273 Thereafter 24,820 Total lease payment to be received $ 60,670

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Goodwill and Other Intangible Assets	The components of goodwill and other intangible assets at December 31, 2023 and 2022 are presented below: December 31, 2023 2022 Goodwill $ 373,574 $ 356,369 Other intangible assets (net of accumulated amortization) 30 90 $ 373,604 $ 356,459
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill for the years ended December 31, 2023, 2022 and 2021 are as follows: Year Ended December 31, 2023 2022 2021 Financial Advisory Asset Management Total Financial Advisory Asset Management Total Financial Advisory Asset Management Total Balance, January 1 $ 291,828 $ 64,541 $ 356,369 $ 292,646 $ 64,541 $ 357,187 $ 297,141 $ 64,541 $ 361,682 Acquisition of – 16,729 16,729 – – – – – – Foreign currency 476 – 476 (818) – (818) (4,495) – (4,495) Balance, December 31 $ 292,304 $ 81,270 $ 373,574 $ 291,828 $ 64,541 $ 356,369 $ 292,646 $ 64,541 $ 357,187

Other Assets and Other Liabil_2

Other Assets and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets And Other Liabilities [Abstract]
Schedule of Other Assets	The following table sets forth the Company’s other assets, by type, as of December 31, 2023 and 2022: December 31, 2023 2022 Current income and other tax receivables $ 54,169 $ 55,193 Prepaid compensation (see Note 16) 115,972 112,124 Other advances and prepayments 117,452 105,653 Other 111,390 103,226 Total $ 398,983 $ 376,196
Schedule of Other Liabilities	The following table sets forth the Company’s other liabilities, by type, as of December 31, 2023 and 2022: December 31, 2023 2022 Accrued expenses $ 193,290 $ 195,218 Current income and other taxes payable 131,813 110,998 Employee benefit-related liabilities 23,829 30,580 Unclaimed funds at LFB 16,994 16,435 Deferred revenue (a) 140,417 137,330 Securities sold, not yet purchased 4,809 4,651 Deferred offering costs – 20,125 Other 27,211 16,631 Total $ 538,363 $ 531,968 _____________________ (a)

Senior Debt (Tables)

Senior Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Senior Debt	Senior debt is comprised of the following as of December 31, 2023 and 2022: Outstanding as of December 31, 2023 December 31, 2022 Initial Principal Amount Maturity Date Annual Interest Rate(a) Principal Unamortized Debt Costs Carrying Value Principal Unamortized Debt Costs Carrying Value Lazard Group 2025 Senior Notes $ 400,000 2/13/25 3.75 % $ 400,000 $ 531 $ 399,469 $ 400,000 $ 1,003 $ 398,997 Lazard Group 2027 Senior Notes 300,000 3/1/27 3.625 % 300,000 1,235 298,765 300,000 1,625 298,375 Lazard Group 2028 Senior Notes 500,000 9/19/28 4.50 % 500,000 4,012 495,988 500,000 4,864 495,136 Lazard Group 2029 Senior Notes 500,000 3/11/29 4.375 % 500,000 4,022 495,978 500,000 4,794 495,206 Total $ 1,700,000 $ 9,800 $ 1,690,200 $ 1,700,000 $ 12,286 $ 1,687,714 _____________________ (a) The effective interest rates of Lazard Group’s 3.75% senior notes due February 13, 2025 (the “2025 Notes”), Lazard Group’s 3.625% senior notes due March 1, 2027 (the “2027 Notes”), Lazard Group’s 4.50% senior notes due September 19, 2028 (the “2028 Notes”) and Lazard Group’s 4.375% senior notes due March 11, 2029 (the “2029 Notes”) are 3.87%, 3.76%, 4.67% and 4.53%, respectively.
Schedule of Debt Maturities Relating to Senior Borrowings Outstanding	Debt maturities relating to senior borrowings outstanding at December 31, 2023 for each of the five years in the period ending December 31, 2028 and thereafter are set forth in the table below. Year Ending December 31, 2024 $ – 2025 400,000 2026 – 2027 300,000 2028 500,000 Thereafter 500,000 Total $ 1,700,000

Members' Equity and Redeemabl_2

Members' Equity and Redeemable Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Share Repurchase Authorized by Board of Directors	Share Repurchase Program —The Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below. Date Repurchase Expiration February 2022 $ 300,000 December 31, 2024 July 2022 $ 500,000 December 31, 2024
Schedule of Shares Repurchased Under the Share Repurchase Program	The Company expects that the share repurchase program will continue to be used to offset a portion of the shares that have been or will be issued under Lazard’s 2018 Incentive Compensation Plan, as amended (the “2018 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from period to period due to a variety of factors. Purchases with respect to such program are set forth in the table below: Year Ended December 31: Number of Average 2021 9,124,295 $ 44.51 2022 19,666,798 $ 35.17 2023 2,782,662 $ 36.67
Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax	Accumulated Other Comprehensive Income (Loss) (“AOCI”), Net of Tax —The tables below reflect the balances of each component of AOCI at December 31, 2023, 2022 and 2021 and activity during the years then ended: Currency Employee Total Amount Total Balance, January 1, 2023 $ (140,102) $ (140,483) $ (280,585) $ 2 $ (280,587) Activity: Other comprehensive income (loss) before reclassifications 30,720 (32,210) (1,490) – (1,490) Adjustments for items reclassified to earnings, net of tax 2,413 5,233 7,646 – 7,646 Net other comprehensive income (loss) 33,133 (26,977) 6,156 – 6,156 Balance, December 31, 2023 $ (106,969) $ (167,460) $ (274,429) $ 2 $ (274,431) Currency Employee Total Amount Total Balance, January 1, 2022 $ (76,355) $ (132,680) $ (209,035) $ 2 $ (209,037) Activity: Other comprehensive loss before reclassifications (63,779) (11,955) (75,734) – (75,734) Adjustments for items reclassified to earnings, net of tax 32 4,152 4,184 – 4,184 Net other comprehensive loss (63,747) (7,803) (71,550) – (71,550) Balance, December 31, 2022 $ (140,102) $ (140,483) $ (280,585) $ 2 $ (280,587) Currency Employee Total Amount Total Balance, January 1, 2021 $ (20,438) $ (173,006) $ (193,444) $ 2 $ (193,446) Activity: Other comprehensive income (loss) before reclassifications (48,401) 34,666 (13,735) – (13,735) Adjustments for items reclassified to earnings, net of tax (7,516) 5,660 (1,856) – (1,856) Net other comprehensive income (loss) (55,917) 40,326 (15,591) – (15,591) Balance, December 31, 2021 $ (76,355) $ (132,680) $ (209,035) $ 2 $ (209,037)
Schedule of Adjustments for Items Reclassified From AOCI	The table below reflects adjustments for items reclassified out of AOCI, by component, for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Currency translation losses (gains) (a) $ 2,413 $ 32 $ (7,516) Employee benefit plans: Amortization relating to employee benefit plans (b) 6,754 5,146 7,269 Less - related income taxes 1,521 994 1,609 5,233 4,152 5,660 Total reclassifications, net of tax $ 7,646 $ 4,184 $ (1,856) ________________________ (a) Represents currency translation losses (gains) reclassified from AOCI associated with closing certain of our offices. Such amounts are included in “revenue–other” on the consolidated statements of operations. (b) Included in the computation of net periodic benefit cost (see Note 17). Such amounts are included in “operating expenses–other” on the consolidated statements of operations.
Schedule of Net Income (Loss) Attributable to Noncontrolling Interests	The tables below summarize net income (loss) attributable to noncontrolling interests for the years ended December 31, 2023, 2022 and 2021 and noncontrolling interests as of December 31, 2023 and 2022 in the Company’s consolidated financial statements: Net Income (Loss) 2023 2022 2021 Edgewater $ 6,051 $ 31,314 $ 10,466 LFI Consolidated Funds 10,150 (11,415) 7,950 LGAC 1,968 15,064 (3,940) Other 4 3 5 Total $ 18,173 $ 34,966 $ 14,481 Noncontrolling Interests 2023 2022 Edgewater $ 46,571 $ 44,681 LFI Consolidated Funds – 74,164 LGAC – (10,714) Other 14 13 Total $ 46,585 $ 108,144

Incentive Plans (Tables)

Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense	The following reflects the expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, RSAs and PIPRs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying consolidated statements of operations: Year Ended December 31, 2023 2022 2021 Share-based incentive awards: RSUs $ 165,435 $ 125,664 $ 124,895 PRSUs 2,488 2,011 6,136 RSAs 25,073 23,923 17,765 PIPRs 55,712 86,810 83,046 DSUs 931 1,116 1,058 Total $ 249,639 $ 239,524 $ 232,900
Schedule of LFI and Other Similar Deferred Compensation Arrangements	The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the year ended December 31, 2023: Prepaid Compensation Balance, January 1, 2023 $ 112,124 $ 326,282 Granted 159,981 159,981 Settled – (171,738) Amortization and the impact of forfeitures (156,254) 8,103 Change in fair value of underlying investments – 41,463 Other 121 1,329 Balance, December 31, 2023 $ 115,972 $ 365,420 The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 Amortization and the impact of forfeitures $ 164,357 $ 154,878 $ 151,604 Change in the fair value of underlying investments 41,463 (44,261) 35,494 Total $ 205,820 $ 110,617 $ 187,098
RSUs, PRSUs and DSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity relating to RSUs, PRSUs and DSUs for the year ended December 31, 2023: RSUs PRSUs DSUs Units Weighted Units Weighted Units Weighted Balance, January 1, 2023 9,022,917 $ 37.97 94,690 $ 39.27 400,820 $ 37.66 Granted (including 711,673 RSUs relating to dividend participation) 5,700,485 $ 36.49 – $ – 62,654 $ 29.71 Forfeited (282,967) $ 35.37 – $ – - $ – Settled (3,372,084) $ 41.65 – $ – (134,744) $ 36.21 PRSUs performance units earned (a) 30,775 $ 46.63 Balance, December 31, 2023 11,068,351 $ 36.15 125,465 $ 41.07 328,730 $ 36.74 _____________________ (a)
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity related to RSAs associated with compensation arrangements during the year ended December 31, 2023: RSAs Weighted Balance, January 1, 2023 1,266,424 $ 36.99 Granted (including 94,985 relating to dividend participation) 670,064 $ 37.60 Forfeited (15,897) $ 39.14 Settled (684,645) $ 39.13 Balance, December 31, 2023 1,235,946 $ 36.10
PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Activity Relating to Share-based Awards	The following is a summary of activity relating to all PIPRs during the year ended December 31, 2023: Ordinary PIPRs (a) P-PIPRs SP-PIPRs Units Weighted Units Weighted Units Weighted Balance, January 1, 2023 1,684,404 $ 39.96 2,447,224 $ 40.29 – $ – Granted 1,521,458 $ 34.50 – $ – 2,250,000 $ 15.06 Forfeited (16,695) $ 43.23 – $ – – $ – Settled (548,398) $ 42.89 (973,222) $ 41.76 – $ – Performance units earned (b) 484,827 $ 46.63 Balance, December 31, 2023 2,640,769 $ 36.19 1,958,829 $ 41.12 2,250,000 $ 15.06 _____________________ (a) Includes PIPR awards with only service-based vesting conditions. (b) Represents P-PIPRs earned during the fiscal year under the performance conditions of previously-granted P-PIPR awards in excess of the target payout levels of such awards.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition	The following table summarizes the changes in the benefit obligations, the fair value of the assets, the funded status and amounts recognized in the consolidated statements of financial condition for the post-retirement plans. The Company uses December 31 as the measurement date for its post-retirement plans. Pension Plans 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 440,050 $ 731,978 Service cost 338 543 Interest cost 20,930 11,130 Amendments 10,201 – Actuarial (gain) loss 21,937 (203,009) Benefits paid (25,542) (29,357) Foreign currency translation and other adjustments 22,787 (71,235) Benefit obligation at end of year 490,701 440,050 Change in plan assets Fair value of plan assets at beginning of year 468,872 782,463 Actual return on plan assets 22,461 (215,237) Employer contributions 5,673 4,206 Benefits paid (25,542) (29,357) Foreign currency translation and other adjustments 24,987 (73,203) Fair value of plan assets at end of year 496,451 468,872 Funded (deficit) at end of year $ 5,750 $ 28,822 Amounts recognized in the consolidated statements of financial condition at December 31, 2023 and 2022 consist of: Prepaid pension asset (included in “other assets”) $ 10,507 $ 35,268 Accrued benefit liability (included in “other liabilities”) (4,757) (6,446) Net amount recognized $ 5,750 $ 28,822 Amounts recognized in AOCI (excluding tax benefits of $38,516 and $29,813 at December 31, 2023 and 2022, respectively) consist of: Actuarial net loss $ 193,193 $ 167,724 Prior service cost 12,782 2,572 Net amount recognized $ 205,975 $ 170,296
Schedule of Fair Value of Plan Assets, Accumulated Benefit Obligation and Projected Benefit Obligation	The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2023 and 2022: U.S. Pension Plans Non-U.S. Pension Plans Total 2023 2022 2023 2022 2023 2022 Fair value of plan assets $ 15,511 $ 14,983 $ 480,940 $ 453,889 $ 496,451 $ 468,872 Accumulated benefit obligation $ 19,999 $ 20,518 $ 470,702 $ 419,532 $ 490,701 $ 440,050 Projected benefit obligation $ 19,999 $ 20,518 $ 470,702 $ 419,532 $ 490,701 $ 440,050
Schedule of Components of Net Periodic Benefit Cost (Credit)	The following table summarizes the components of net periodic benefit cost (credit), the return on the Company’s post-retirement plan assets, benefits paid, contributions and other amounts recognized in AOCI for the years ended December 31, 2023, 2022 and 2021: Pension Plans 2023 2022 2021 Components of Net Periodic Benefit Cost (Credit): Service cost $ 338 $ 543 $ 876 Interest cost 20,930 11,130 8,679 Expected return on plan assets (23,942) (24,482) (26,077) Amortization of: Prior service cost 107 106 118 Net actuarial loss 6,647 5,040 7,151 Settlement loss – – 1,056 Net periodic benefit cost (credit) $ 4,080 $ (7,663) $ (8,197) Actual return on plan assets $ 22,461 $ (215,237) $ 26,046 Employer contributions $ 5,673 $ 4,206 $ 4,493 Benefits paid $ 25,542 $ 29,357 $ 29,327 Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax expense (benefit) of $(8,703), $(4,443) and $13,521 during the years ended December 31, 2023, 2022 and 2021, respectively): Net actuarial (gain) loss $ 23,521 $ 31,174 $ (40,717) Prior service cost 10,172 – – Reclassification of prior service (cost) credit to earnings (107) (106) (118) Reclassification of actuarial gain (loss) to earnings (6,647) (5,040) (7,151) Currency translation and other adjustments 8,740 (13,783) (5,860) Total recognized in AOCI $ 35,679 $ 12,245 $ (53,846) Net amount recognized in total periodic benefit cost and AOCI $ 39,759 $ 4,582 $ (62,043)
Schedule of Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation and Net Periodic Pension Cost	The assumptions used to develop actuarial present value of the projected benefit obligation and net periodic pension cost as of or for the years ended December 31, 2023, 2022 and 2021 are set forth below: Pension Plans 2023 2022 2021 Weighted average assumptions used to determine benefit obligations: Discount rate 4.4 % 4.7 % 1.8 % Weighted average assumptions used to determine net periodic benefit cost: Discount rate 4.3 % 2.1 % 1.1 % Expected long-term rate of return on plan assets 5.1 % 3.4 % 3.3 %
Schedule of Expected Benefit Payments	The following table summarizes the expected benefit payments for the Company’s pension plans for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter: Pension 2024 $ 28,564 2025 27,844 2026 28,130 2027 28,654 2028 29,105 2029-2033 146,096
Schedule of Categorization of Plans' Assets	The following tables present the categorization of our pension plans’ assets as of December 31, 2023 and 2022, measured at fair value, into a fair value hierarchy and investments measured at NAV or its equivalent as a practical expedient in accordance with fair value measurement disclosure requirements: As of December 31, 2023 Level 1 Level 2 Level 3 NAV (a) Total Assets: Cash $ 9,286 $ – $ – $ – $ 9,286 Debt 41,215 – – – 41,215 Equities 11,496 – – – 11,496 Funds: Alternative investments – – – 6,640 6,640 Debt 7,268 58,876 – 236,553 302,697 Equity 58,773 55,692 – 6,434 120,899 Other – 4,218 – – 4,218 Total $ 128,038 $ 118,786 $ – $ 249,627 $ 496,451 As of December 31, 2022 Level 1 Level 2 Level 3 NAV (a) Total Assets: Cash $ 18,084 $ – $ – $ – $ 18,084 Debt 79,505 – – – 79,505 Equities 15,480 – – – 15,480 Funds: Alternative investments – – – 9,113 9,113 Debt 6,350 – – 220,141 226,491 Equity 49,041 49,297 – 7,138 105,476 Other – 14,723 – – 14,723 Total $ 168,460 $ 64,020 $ – $ 236,392 $ 468,872 _____________________ (a) Represents certain investments measured at NAV or its equivalent as a practical expedient in determining fair value. In accordance with current accounting guidance, these investments have not been classified in the fair value hierarchy.

Cost-Savings Initiatives (Table

Cost-Savings Initiatives (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Activities Related to Cost Savings Initiatives	Expenses and losses associated with the cost-saving initiatives for the year ended December 31, 2023 consisted of the following: Year Ended December 31, 2023 Financial Advisory Asset Management Corporate Total Severance and other employee $ 94,457 $ 49,152 $ 34,732 $ 178,341 Technology asset impairments 144 7,877 – 8,021 Foreign exchange related losses 2,411 – 3,054 5,465 Other 2,230 470 2,291 4,991 Total $ 99,242 $ 57,499 $ 40,077 $ 196,818 Additional compensation and benefits expense of approximately $40,000 was incurred in the first quarter of 2024. Activity related to the obligations pursuant to the cost-saving initiatives during the year ended December 31, 2023 was as follows: Accrued Compensation and Benefits Other Total Balance, January 1, 2023 $ – $ – $ – Total expenses 178,341 18,477 196,818 Less: Noncash expenses (a) 32,757 11,213 43,970 Payments and settlements 94,238 6,312 100,550 Balance, December 31, 2023 $ 51,346 $ 952 $ 52,298 ___________________________________ (a) Noncash expenses reflected in “accrued compensation and benefits” activity principally represents accelerated amortization of deferred incentive compensation awards. Noncash expenses reflected in “other” activity principally relates to technology asset impairments and certain foreign exchange related losses.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The components of the Company’s provision for income taxes for the years ended December 31, 2023, 2022 and 2021, and a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rates for such years, are shown below. Year Ended December 31, 2023 2022 2021 Current: Federal $ 169 $ 248 $ (3,808) Foreign 53,131 71,800 98,142 State and local 2,731 5,810 1,495 Total current 56,031 77,858 95,829 Deferred: Federal (57) 5 82 Foreign (5,045) 3,299 5,081 State and local (1,870) 491 695 Total deferred (6,972) 3,795 5,858 Total $ 49,059 $ 81,653 $ 101,687
Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Tax Rates	Year Ended December 31, 2023 2022 2021 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % Rate benefit for U.S. Partnership operations (21.0) (21.0) (21.0) Foreign taxes (43.5) 15.0 13.3 State and local taxes – 1.0 0.7 Uncertain tax positions (0.9) (0.3) (0.3) Other (0.1) – (0.5) Effective income tax rate (44.5 %) 15.7 % 13.2 %
Schedule of Deferred Tax Assets and Liabilities	Details of the Company’s deferred tax assets and liabilities are as follows: December 31, 2023 2022 Deferred Tax Assets: Basis adjustments (a) $ – $ 22 Compensation and benefits 73,722 63,334 Net operating loss and tax credit carryforwards 80,795 76,509 Depreciation and amortization 5,520 5,041 Other 10,463 9,111 Gross deferred tax assets 170,500 154,017 Valuation allowance (79,127) (80,347) Deferred tax assets (net of valuation allowance) 91,373 73,670 Deferred Tax Liabilities: Depreciation and amortization 3,787 4,476 Compensation and benefits 21,500 22,927 Goodwill 1,742 1,512 Other 15,976 11,074 Deferred tax liabilities 43,005 39,989 Net deferred tax assets $ 48,368 $ 33,681 _____________________ (a) The basis adjustments recorded as of December 31, 2023 and 2022 are primarily the result of additional basis from acquisitions of interests.
Schedule of Changes in Deferred Tax Assets Valuation Allowance	Changes in the deferred tax assets valuation allowance for the years ended December 31, 2023, 2022 and 2021 was as follows: Year Ended December 31, 2023 2022 2021 Beginning Balance $ 80,347 $ 79,129 $ 76,728 Charged (credited) to provision for income taxes (474) 6,844 4,400 Charged (credited) to other comprehensive income and other (746) (5,626) (1,999) Ending Balance $ 79,127 $ 80,347 $ 79,129
Schedule of Gross Unrecognized Tax Benefits	A reconciliation of the beginning to the ending amount of gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2023, 2022 and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Balance, January 1 (excluding interest and penalties of $17,855, $18,442 and $18,745, respectively) $ 52,877 $ 53,507 $ 55,725 Increases in gross unrecognized tax benefits relating to tax positions taken during: Prior years 265 257 165 Current year 11,658 13,273 11,841 Decreases in gross unrecognized tax benefits relating to: Tax positions taken during prior years (837) (975) (5,774) Settlements with tax authorities (243) (43) (134) Lapse of the applicable statute of limitations (9,733) (13,142) (8,316) Balance, December 31 (excluding interest and penalties of $18,446, $17,855 and $18,442, respectively) $ 53,987 $ 52,877 $ 53,507
Schedule of Additional Information Relating to Unrecognized Tax Benefits	Additional information with respect to unrecognized tax benefits is as follows: Year Ended December 31, 2023 2022 2021 Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $18,446, $17,855 and $18,442, respectively) $ 60,225 $ 59,202 $ 61,452 Unrecognized tax benefits that, if recognized, would not affect the effective tax rate $ 12,208 $ 11,530 $ 10,497 Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $5,446, $6,344 and $5,210, respectively) $ 591 $ (587) $ (303)

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets	Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets: Year Ended December 31, 2023 2022 2021 Financial Advisory Net Revenue $ 1,384,341 $ 1,655,596 $ 1,794,132 Operating Expenses (a) 1,483,427 1,292,382 1,345,849 Operating Income (Loss) $ (99,086) $ 363,214 $ 448,283 Asset Management Net Revenue $ 1,151,496 $ 1,204,927 $ 1,424,985 Operating Expenses (a) 1,011,574 963,640 1,032,825 Operating Income $ 139,922 $ 241,287 $ 392,160 Corporate Net Revenue (Loss) $ (19,609) $ (96,234) $ 4,092 Operating Expenses (Credit) (a) 131,411 (12,534) 73,872 Operating Loss $ (151,020) $ (83,700) $ (69,780) Total Net Revenue $ 2,516,228 $ 2,764,289 $ 3,223,209 Operating Expenses (a) 2,626,412 2,243,488 2,452,546 Operating Income (Loss) $ (110,184) $ 520,801 $ 770,663 _____________________ (a) Operating expenses include depreciation and amortization of property as set forth in table below. Year Ended December 31, 2023 2022 2021 Financial Advisory $ 8,511 $ 8,669 $ 8,180 Asset Management 6,476 9,390 5,618 Corporate 27,860 23,978 24,216 Total $ 42,847 $ 42,037 $ 38,014 December 31, 2023 2022 Total Assets Financial Advisory $ 1,131,657 $ 1,074,278 Asset Management (b) 1,232,364 1,786,830 Corporate (b) 1,866,304 2,600,691 Total $ 4,230,325 $ 5,461,799 _____________________ (b)
Schedule of Operating Income, Revenue and Identifiable Assets by Geographical Areas	The following table sets forth the net revenue from, and total assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above. In the table below, Americas principally includes the U.S., EMEA principally includes the U.K. and France, and Asia Pacific principally includes Australia. Year Ended December 31, 2023 2022 2021 Net Revenue: Americas $ 1,193,795 $ 1,477,774 $ 1,810,976 EMEA 1,162,052 1,136,636 1,251,058 Asia Pacific 160,381 149,879 161,175 Total $ 2,516,228 $ 2,764,289 $ 3,223,209 Operating Income: Americas $ (255,084) $ 239,593 $ 446,731 EMEA 108,058 248,404 295,991 Asia Pacific 36,842 32,804 27,941 Total $ (110,184) $ 520,801 $ 770,663 December 31, 2023 2022 Total Assets: Americas $ 2,403,506 $ 3,067,477 EMEA 1,679,644 2,218,147 Asia Pacific 147,175 176,175 Total $ 4,230,325 $ 5,461,799

Consolidated VIEs (Tables)

Consolidated VIEs (Tables)	12 Months Ended
	Dec. 31, 2023
Variable Interest Entity, Measure of Activity [Abstract]
Summary of Consolidated VIE Assets and Liabilities	The Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the consolidated statements of financial condition consist of the following at December 31, 2023 and 2022. December 31, 2023 2022 ASSETS Cash and cash equivalents $ 4,627 $ 3,644 Customers and other receivables 23,277 240 Investments 196,112 186,300 Other assets 683 622 Total assets $ 224,699 $ 190,806 LIABILITIES Deposits and other customer payables $ 23,498 $ 528 Other liabilities 353 448 Total liabilities $ 23,851 $ 976

Organization and Basis of Pre_2

Organization and Basis of Presentation - Additional Information (Details)		1 Months Ended	12 Months Ended
	Feb. 23, 2023 USD ($)	Feb. 28, 2021 USD ($)	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Organization And Basis Of Presentation [Line Items]
Number of business segments | Segment			2
Initial public offering (LGAC)			$ 0	$ 0	$ 575,000,000
Deferred costs			0	20,125,000
Redeemable noncontrolling interests			87,675,000	583,471,000
LGAC Warrants
Organization And Basis Of Presentation [Line Items]
Redemption rights and liquidating distributions relating to LGAC warrants			0
LGAC
Organization And Basis Of Presentation [Line Items]
Initial public offering (LGAC)		$ 575,000,000
Redeemable noncontrolling interests				$ 583,471,000
Assets held-in-trust, noncurrent	$ 585,891,000
LGAC | Other Revenue
Organization And Basis Of Presentation [Line Items]
Losses on dissolution			$ 17,929,000
LGAC | Net Underwriting Fee
Organization And Basis Of Presentation [Line Items]
Net underwriting fee		8,500,000
LGAC | Non-cash Deferred Underwriting Fees
Organization And Basis Of Presentation [Line Items]
Deferred costs		20,125,000
LGAC | Other Offering Cost
Organization And Basis Of Presentation [Line Items]
Other offering costs		$ 852,000
Lazard Group LLC
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held (as a percent)			100%	100%

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Foreign currency remeasurement gains (losses), net of gains and losses from forward foreign currency exchange rate contracts	$ (5,531)	$ 778	$ (952)
Depreciation and amortization expense	$ 42,847	$ 42,037	$ 38,014
Financing Receivable, Past Due [Line Items]
Credit term	60 days
Threshold period past due	60 days
Financial Advisory
Financing Receivable, Past Due [Line Items]
Threshold period past due, full provision	180 days
Asset Management
Financing Receivable, Past Due [Line Items]
Threshold period past due, full provision	10 months
Minimum
Financing Receivable, Past Due [Line Items]
Credit term	1 month
Maximum
Financing Receivable, Past Due [Line Items]
Credit term	4 years

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue Based on Business Segment Results (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial Advisory
Disaggregation Of Revenue [Line Items]
Net revenue	$ 1,384,341	$ 1,655,596	$ 1,794,132
Asset Management
Disaggregation Of Revenue [Line Items]
Net revenue	1,151,496	1,204,927	1,424,985
Asset Management | Management Fees and Other
Disaggregation Of Revenue [Line Items]
Net revenue	1,121,950	1,137,583	1,304,582
Asset Management | Incentive Fees
Disaggregation Of Revenue [Line Items]
Net revenue	$ 29,546	$ 67,344	$ 120,403

Receivables and Allowance for_3

Receivables and Allowance for Credit Losses - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	$ 113,929	$ 97,964
Carrying amount	644,429	499,910
Customer and Other Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer loans	$ 86,412	$ 128,890

Receivables and Allowance for_4

Receivables and Allowance for Credit Losses - Schedule of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 17,737	$ 33,955	$ 36,649
Bad debt expense, net of reversals	20,875	1,769	3,805
Charge-offs, foreign currency translation and other adjustments	(10,109)	(17,987)	(6,499)
Ending Balance	$ 28,503	$ 17,737	$ 33,955

Investments - Investments and S

Investments - Investments and Securities Sold, not yet Purchased (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investments	$ 701,964	$ 698,977
Investments, at fair value	701,964	683,496
Equity method investments	0	15,481
Lazard Group LLC
Schedule of Investments [Line Items]
Investments	113,174	115,666
Debt
Schedule of Investments [Line Items]
Investments	4,285	0
Equities
Schedule of Investments [Line Items]
Investments	54,717	43,889
Funds:
Schedule of Investments [Line Items]
Investments	642,962	639,607
Alternative investments funds
Schedule of Investments [Line Items]
Investments	61,680	56,947
Alternative investments funds | Lazard Fund Interests | Lazard Group LLC
Schedule of Investments [Line Items]
Investments	27,454	24,137
Debt funds
Schedule of Investments [Line Items]
Investments	191,325	178,556
Debt funds | Lazard Fund Interests | Lazard Group LLC
Schedule of Investments [Line Items]
Investments	175,449	142,632
Equity funds
Schedule of Investments [Line Items]
Investments	343,139	350,282
Equity funds | Lazard Fund Interests | Lazard Group LLC
Schedule of Investments [Line Items]
Investments	284,099	266,528
Private equity
Schedule of Investments [Line Items]
Investments	$ 46,818	$ 53,822

Investments - Schedule of Equit

Investments - Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment gains (losses)	$ 54,228	$ (92,793)	$ 14,154

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	$ 701,964	$ 683,496
Assets, fair value disclosure		698,050
Securities sold, not yet purchased	$ 4,809	4,651
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	Other liabilities
Liabilities, fair value disclosure		$ 331,811
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other assets
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets	$ 2,789	$ 14,554
Assets, fair value disclosure	704,753
Securities sold, not yet purchased	4,809	4,651
Contingent consideration liability	6,583
Derivative liabilities	368,673	327,160
Liabilities, fair value disclosure	380,065
Fair Value, Recurring | Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	4,285
Fair Value, Recurring | Equities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	54,717	43,889
Fair Value, Recurring | Alternative investments funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	61,680	56,947
Fair Value, Recurring | Debt funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	191,325	178,556
Fair Value, Recurring | Equity funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	343,139	350,282
Fair Value, Recurring | Private equity
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	46,818	53,822
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, fair value disclosure	598,186	599,110
Securities sold, not yet purchased	4,809	4,651
Derivative liabilities		115
Liabilities, fair value disclosure	4,809	4,766
Fair Value, Recurring | Level 1 | Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	4,285
Fair Value, Recurring | Level 1 | Equities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	54,224	43,243
Fair Value, Recurring | Level 1 | Alternative investments funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	15,676	27,073
Fair Value, Recurring | Level 1 | Debt funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	180,907	178,552
Fair Value, Recurring | Level 1 | Equity funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	343,094	350,242
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets	2,789	14,554
Assets, fair value disclosure	13,202	14,554
Derivative liabilities	368,673	327,045
Liabilities, fair value disclosure	368,673	327,045
Fair Value, Recurring | Level 2 | Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	0
Fair Value, Recurring | Level 2 | Debt funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	10,413
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, fair value disclosure	766	19,418
Contingent consideration liability	6,583
Liabilities, fair value disclosure	6,583
Fair Value, Recurring | Level 3 | Equities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	493	646
Fair Value, Recurring | Level 3 | Private equity
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	273	18,772
Fair Value, Recurring | NAV
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, fair value disclosure	92,599	64,968
Fair Value, Recurring | NAV | Alternative investments funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	46,004	29,874
Fair Value, Recurring | NAV | Debt funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	5	4
Fair Value, Recurring | NAV | Equity funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	45	40
Fair Value, Recurring | NAV | Private equity
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments, at fair value	$ 46,545	$ 35,050

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets:
Beginning Balance	$ 19,418	$ 871	$ 3,157
Net Unrealized/Realized Gains/Losses Included In Earnings	54	99	155
Purchases/ Acquisitions/ Issuances	0	18,000	0
Sales/Settlements/Transfers	(18,789)	(13)	(2,356)
Foreign Currency Translation Adjustments	83	461	(85)
Ending Balance	$ 766	$ 19,418	$ 871
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other
Liabilities:
Beginning Balance	$ 0	$ 0
Net Unrealized/Realized Gains/Losses Included In Earnings	274	0
Purchases/ Acquisitions/ Issuances	7,754	11,500
Sales/Settlements/Transfers	(1,445)	(11,500)
Foreign Currency Translation Adjustments	0	0
Ending Balance	$ 6,583	$ 0	$ 0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other		Other
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization and other acquisition-related costs
Level 3
Liabilities:
Unrealized gains (losses) on assets	$ (6)	$ 99	$ 155
Unrealized losses on liability	(274)
Contingent consideration liability
Liabilities:
Beginning Balance	0
Net Unrealized/Realized Gains/Losses Included In Earnings	274
Purchases/ Acquisitions/ Issuances	7,754
Sales/Settlements/Transfers	(1,445)
Foreign Currency Translation Adjustments	0
Ending Balance	6,583	0
Derivatives
Liabilities:
Beginning Balance		0	0
Net Unrealized/Realized Gains/Losses Included In Earnings			0
Purchases/ Acquisitions/ Issuances			11,500
Sales/Settlements/Transfers			(11,500)
Foreign Currency Translation Adjustments			0
Ending Balance			0
Equities
Assets:
Beginning Balance	646	578	1,671
Net Unrealized/Realized Gains/Losses Included In Earnings	54	99	(796)
Purchases/ Acquisitions/ Issuances	0	0	0
Sales/Settlements/Transfers	(281)	0	(235)
Foreign Currency Translation Adjustments	74	(31)	(62)
Ending Balance	493	646	578
Private equity
Assets:
Beginning Balance	18,772	293	1,486
Net Unrealized/Realized Gains/Losses Included In Earnings	0	0	951
Purchases/ Acquisitions/ Issuances	0	18,000	0
Sales/Settlements/Transfers	(18,508)	(13)	(2,121)
Foreign Currency Translation Adjustments	9	492	(23)
Ending Balance	$ 273	$ 18,772	$ 293

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Transfers into or out of Level 3 in the fair value measurement hierarchy	$ 0	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Carrying Value
Cash and cash equivalents	$ 966,168	$ 1,180,473	$ 1,435,576
Deposits with banks and short-term investments	219,576	779,246
Restricted cash	34,091	625,381	617,448
Financing receivables	113,929	97,964
Other fees and customers and other receivables	644,429	499,910
Fair Value
Deposits with banks and short-term investments	219,576	779,246	$ 1,347,544
Carrying Value
Deposits and other customer payables	443,262	921,834
Senior debt	1,690,200	1,687,714
Carrying Value
Carrying Value
Cash and cash equivalents	966,168	1,180,473
Deposits with banks and short-term investments	219,576	779,246
Restricted cash	34,091	625,381
Financing receivables	113,929	97,964
Customer loans	86,412	128,890
Other fees and customers and other receivables	644,429	499,910
Carrying Value
Deposits and other customer payables	443,262	921,834
Senior debt	1,690,200	1,687,714
Fair Value
Fair Value
Cash and cash equivalents	966,168	1,180,473
Deposits with banks and short-term investments	219,576	779,246
Restricted cash	34,091	625,381
Financing receivables	113,694	98,362
Customer loans	86,412	128,890
Other fees and customers and other receivables	644,429	499,910
Fair Value
Deposits and other customer payables	443,262	921,834
Senior debt	1,651,726	1,601,917
Fair Value | Level 1
Fair Value
Cash and cash equivalents	966,168	1,180,473
Deposits with banks and short-term investments	219,576	779,246
Restricted cash	34,091	625,381
Financing receivables	0	0
Customer loans	0	0
Other fees and customers and other receivables	644,429	499,910
Fair Value
Deposits and other customer payables	443,262	921,834
Senior debt	0	0
Fair Value | Level 2
Fair Value
Cash and cash equivalents	0	0
Deposits with banks and short-term investments	0	0
Restricted cash	0	0
Financing receivables	0	0
Customer loans	0	0
Other fees and customers and other receivables	0	0
Fair Value
Deposits and other customer payables	0	0
Senior debt	1,651,726	1,601,917
Fair Value | Level 3
Fair Value
Cash and cash equivalents	0	0
Deposits with banks and short-term investments	0	0
Restricted cash	0	0
Financing receivables	113,694	98,362
Customer loans	86,412	128,890
Other fees and customers and other receivables	0	0
Fair Value
Deposits and other customer payables	0	0
Senior debt	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 92,599	$ 64,968
Unfunded Commitments	5,505	5,455
Hedge funds
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 45,324	$ 29,259
Hedge funds | Monthly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	74%	68%
Hedge funds | Quarterly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	26%	32%
Hedge funds | Minimum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Hedge funds | Maximum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Other
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 680	$ 615
Other | Monthly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	96%	95%
Other | Daily
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	4%	5%
Other | Minimum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Other | Maximum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt funds
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 5	$ 4
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt funds | Daily
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	100%	100%
Equity funds
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 45	$ 40
Equity funds | Monthly
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	34%	35%
Equity funds | Annually
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments redeemable (as percent)	66%	65%
Equity funds | Minimum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Equity funds | Maximum
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Private equity | Equity growth
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 46,545	$ 35,050
Unfunded Commitments	$ 5,505	$ 5,455
% of NAV Not Redeemable	100%	100%
Private equity | Consolidated But Not Owned
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 9,605	$ 8,003

DERIVATIVES - Fair Values of De

DERIVATIVES - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 3,533	$ 14,783
Derivative assets, amounts not netted: cash collateral	0	0
Derivative assets, amounts not netted: securities collateral	0	0
Derivative assets, fair value, total	2,789	14,554
Derivative assets, notional amount	288,113	325,129
Derivative liabilities, fair value	379,557	327,390
Derivative liabilities, amounts not netted: cash collateral	(243)	0
Derivative liabilities, amounts not netted: securities collateral	0	0
Derivative liabilities, fair value, total	368,430	327,160
Derivative liabilities, notional	640,734	479,122
Forward foreign currency exchange rate contracts
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	3,400	1,356
Derivative assets fair value counterparty and cash collateral netting	(604)	(157)
Derivative assets, notional amount	283,635	170,103
Derivative liabilities, fair value	1,847	921
Derivative liabilities, fair value, counterparty and cash collateral netting	(603)	(158)
Derivative liabilities, notional	170,704	128,098
Total return swaps and other
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	133	13,427
Derivative assets fair value counterparty and cash collateral netting	(140)	(72)
Derivative assets, notional amount	4,478	155,026
Derivative liabilities, fair value	12,290	72
Derivative liabilities, fair value, counterparty and cash collateral netting	(10,281)	(72)
Derivative liabilities, notional	117,139	1,398
LFI and other similar deferred compensation arrangements
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative assets, notional amount	0	0
Derivative liabilities, fair value	365,420	326,282
Derivative liabilities, notional	352,891	338,126
LGAC Warrants
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		0
Derivative assets, notional amount		0
Derivative liabilities, fair value		115
Derivative liabilities, notional		11,500
Net derivatives in "other assets" and "other liabilities"
Derivatives, Fair Value [Line Items]
Derivative assets, net derivatives	2,789	14,554
Derivative liabilities, net derivatives	$ 368,673	$ 327,160

Derivatives - Net Gains (Losses

Derivatives - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Total	$ (61,006)	$ 82,084	$ (37,452)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other
Forward foreign currency exchange rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain (loss)	$ (2,701)	$ 4,721	$ 11,007
LFI and other similar deferred compensation arrangements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain (loss)	(41,463)	44,261	(35,494)
LGAC Warrants
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain (loss)	115	9,890	1,495
Total return swaps and other
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain (loss)	$ (16,957)	$ 23,212	$ (14,460)

Property, Net (Details)

Property, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 647,063	$ 643,632
Less - Accumulated depreciation and amortization	414,547	393,595
Property, net	232,516	250,037
Office Building
Property, Plant and Equipment [Line Items]
Property, net	$ 72,921
Buildings
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	33 years
Property, plant and equipment, gross	$ 170,830	135,103
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 233,732	207,285
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	3 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	20 years
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 230,713	235,684
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	3 years
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	10 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,788	$ 65,560

Leases - Schedule of Components

Leases - Schedule of Components of Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 80,001	$ 78,259	$ 86,023
Variable lease cost	23,404	20,968	21,056
Sublease income	(934)	(4,969)	(7,303)
Total	$ 102,471	$ 94,258	$ 99,776

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information and Certain Other Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$ 81,530	$ 81,219
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 35,282	$ 33,531
Weighted average remaining lease term	8 years	9 years
Weighted average discount rate (as a percent)	3.90%	3.70%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 82,110
2025	72,983
2026	64,587
2027	63,123
2028	59,863
Thereafter	221,452
Total lease payments	564,118
Less - Discount	79,738
Operating lease liabilities	$ 484,380	$ 512,730

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Leases [Abstract]
Undiscounted future lease payments on operating lease signed but not yet commeced	$ 119,225
Operating lease not yet commenced, term	15 years
Operating lease income	$ 6,393
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other

Leases - Schedule of Carrying V

Leases - Schedule of Carrying Value of Assets Subject to Leases on Consolidated Statements of Financial Condition (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
Property, net	$ 72,921
Accumulated depreciation	$ 104,171

Leases - Schedule of Undiscount

Leases - Schedule of Undiscounted Future Cash Inflows Under Operating Lease (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 2,758
2025	8,273
2026	8,273
2027	8,273
2028	8,273
Thereafter	24,820
Total lease payment to be received	$ 60,670

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 373,574	$ 356,369	$ 357,187	$ 361,682
Other intangible assets (net of accumulated amortization)	30	90
Goodwill and other intangible assets, Total	$ 373,604	$ 356,459

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 356,369	$ 357,187	$ 361,682
Acquisition of business	16,729	0	0
Foreign currency translation adjustments	476	(818)	(4,495)
Ending balance	373,574	356,369	357,187
Financial Advisory
Goodwill [Roll Forward]
Beginning balance	291,828	292,646	297,141
Acquisition of business	0	0	0
Foreign currency translation adjustments	476	(818)	(4,495)
Ending balance	292,304	291,828	292,646
Asset Management
Goodwill [Roll Forward]
Beginning balance	64,541	64,541	64,541
Acquisition of business	16,729	0	0
Foreign currency translation adjustments	0	0	0
Ending balance	$ 81,270	$ 64,541	$ 64,541

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss	$ 0	$ 0	$ 0
Amortization of intangible assets	$ 60,000	$ 60,000	$ 60,000

Other Assets and Other Liabil_3

Other Assets and Other Liabilities - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Assets And Other Liabilities [Abstract]
Current income and other tax receivables	$ 54,169	$ 55,193
Prepaid compensation (see Note 16)	115,972	112,124
Other advances and prepayments	117,452	105,653
Other	111,390	103,226
Total	$ 398,983	$ 376,196

Other Assets and Other Liabil_4

Other Assets and Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other Assets And Other Liabilities [Abstract]
Accrued expenses	$ 193,290	$ 195,218
Current income and other taxes payable	131,813	110,998
Employee benefit-related liabilities	23,829	30,580
Unclaimed funds at LFB	16,994	16,435
Deferred revenue	140,417	137,330
Securities sold, not yet purchased	4,809	4,651
Deferred offering costs	0	20,125
Other	27,211	16,631
Total	538,363	531,968
Revenue recognized during the year	$ 18,775
Deferred revenue		$ 18,775

Senior Debt - Senior Debt (Deta

Senior Debt - Senior Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal	$ 1,700,000,000	$ 1,700,000,000
Unamortized Debt Costs	9,800,000	12,286,000
Carrying Value	1,690,200,000	1,687,714,000
Lazard Group 2025 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount	$ 400,000,000
Maturity Date	Feb. 13, 2025
Annual Interest Rate	3.75%
Principal	$ 400,000,000	400,000,000
Unamortized Debt Costs	531,000	1,003,000
Carrying Value	$ 399,469,000	398,997,000
Senior notes interest rate	3.75%
Senior debt maturity date	Feb. 13, 2025
Effective interest rates of senior notes	3.87%
Lazard Group 2027 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount	$ 300,000,000
Maturity Date	Mar. 01, 2027
Annual Interest Rate	3.625%
Principal	$ 300,000,000	300,000,000
Unamortized Debt Costs	1,235,000	1,625,000
Carrying Value	$ 298,765,000	298,375,000
Senior notes interest rate	3.625%
Senior debt maturity date	Mar. 01, 2027
Effective interest rates of senior notes	3.76%
Lazard Group 2028 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount	$ 500,000,000
Maturity Date	Sep. 19, 2028
Annual Interest Rate	4.50%
Principal	$ 500,000,000	500,000,000
Unamortized Debt Costs	4,012,000	4,864,000
Carrying Value	$ 495,988,000	495,136,000
Senior notes interest rate	4.50%
Senior debt maturity date	Sep. 19, 2028
Effective interest rates of senior notes	4.67%
Lazard Group 2029 Senior Notes
Debt Instrument [Line Items]
Initial Principal Amount	$ 500,000,000
Maturity Date	Mar. 11, 2029
Annual Interest Rate	4.375%
Principal	$ 500,000,000	500,000,000
Unamortized Debt Costs	4,022,000	4,794,000
Carrying Value	$ 495,978,000	$ 495,206,000
Senior notes interest rate	4.375%
Senior debt maturity date	Mar. 11, 2029
Effective interest rates of senior notes	4.53%

Senior Debt - Additional Inform

Senior Debt - Additional Information (Details) - USD ($)		1 Months Ended
	Jun. 06, 2023	Jul. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Unused Lines of Credit
Debt Instrument [Line Items]
Unused lines of credit			$ 209,400,000
Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit, initiation date	Jun. 06, 2023
Duration of senior revolving credit facility, in years	5 years
Senior revolving credit facility	$ 200,000,000
Outstanding credit facility			0
Line of credit, expiration date	Jun. 06, 2028
Previous Credit Agreement
Debt Instrument [Line Items]
Duration of senior revolving credit facility, in years		3 years
Senior revolving credit facility		$ 200,000,000
Outstanding credit facility			$ 0	$ 0
Line of credit, expiration date		Jul. 31, 2023

Senior Debt - Debt Maturities R

Senior Debt - Debt Maturities Relating to Senior Borrowings Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total	$ 1,700,000	$ 1,700,000
Senior Borrowings
Debt Instrument [Line Items]
2024	0
2025	400,000
2026	0
2027	300,000
2028	500,000
Thereafter	500,000
Total	$ 1,700,000

Members' Equity and Redeemabl_3

Members' Equity and Redeemable Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2023	Feb. 28, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Stockholders Equity [Line Items]
Distributions to members and noncontrolling interests, net			$ (166,149)	$ (259,492)	$ (244,228)
Aggregate value of all shares repurchased			102,051	$ 691,705	406,149
Share repurchase remaining authorization			$ 200,095
Expiration			Dec. 31, 2024
Common Stock
Schedule Of Stockholders Equity [Line Items]
Common stock held by subsidiaries, shares			25,300,624	26,774,550
Lazard Ltd Subsidiaries | Management | Common Stock
Schedule Of Stockholders Equity [Line Items]
Number of shares distributed to Ltd subsidiaries (in shares)	1,521,620	1,902,756
Executive Officers | Common Stock
Schedule Of Stockholders Equity [Line Items]
Aggregate value of all shares repurchased			$ 11,100	$ 16,500	19,800
Lazard Group
Schedule Of Stockholders Equity [Line Items]
Distributions to members and noncontrolling interests, net			(161,984)	(228,045)	(233,234)
Aggregate value of all shares repurchased			$ 102,051	$ 691,705	$ 406,149

Members' Equity and Redeemabl_4

Members' Equity and Redeemable Noncontrolling Interests - Schedule of Share Repurchase Authorized by Board of Directors (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Equity, Class of Treasury Stock [Line Items]
Expiration	Dec. 31, 2024
February 2022
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2024
July 2022
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 500,000,000
Expiration	Dec. 31, 2024

Members' Equity and Redeemabl_5

Members' Equity and Redeemable Noncontrolling Interests - Schedule of Shares Repurchased Under the Share Repurchase Program (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Number of Shares Purchased	2,782,662	19,666,798	9,124,295
Average Price Per Share (in usd per share)	$ 36.67	$ 35.17	$ 44.51

Members' Equity and Redeemabl_6

Members' Equity and Redeemable Noncontrolling Interests - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	$ 466,513	[1]	$ 874,466	[2]	$ 710,869
Other comprehensive income (loss) before reclassifications	(1,490)		(75,734)		(13,735)
Adjustments for items reclassified to earnings, net of tax	7,646		4,184		(1,856)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	6,156		(71,550)		(15,591)
Balance at the end	182,465	[3]	466,513	[1]	874,466	[2]
Total AOCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(280,585)		(209,035)		(193,444)
Balance at the end	(274,429)		(280,585)		(209,035)
Currency Translation Adjustments
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(140,102)		(76,355)		(20,438)
Other comprehensive income (loss) before reclassifications	30,720		(63,779)		(48,401)
Adjustments for items reclassified to earnings, net of tax	2,413		32		(7,516)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	33,133		(63,747)		(55,917)
Balance at the end	(106,969)		(140,102)		(76,355)
Employee Benefit Plans
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(140,483)		(132,680)		(173,006)
Other comprehensive income (loss) before reclassifications	(32,210)		(11,955)		34,666
Adjustments for items reclassified to earnings, net of tax	5,233		4,152		5,660
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(26,977)		(7,803)		40,326
Balance at the end	(167,460)		(140,483)		(132,680)
Amount Attributable to Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	2		2		2
Other comprehensive income (loss) before reclassifications	0		0		0
Adjustments for items reclassified to earnings, net of tax	0		0		0
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	0		0		0
Balance at the end	2		2		2
Total Lazard Group AOCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning	(280,587)	[1]	(209,037)	[2]	(193,446)
Other comprehensive income (loss) before reclassifications	(1,490)		(75,734)		(13,735)
Adjustments for items reclassified to earnings, net of tax	7,646		4,184		(1,856)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	6,156		(71,550)		(15,591)
Balance at the end	$ (274,431)	[3]	$ (280,587)	[1]	$ (209,037)	[2]
[1] (*) At December 31, 2022, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2021, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2023, in addition to profit participation interests, there were two managing member interests.

Members' Equity and Redeemabl_7

Members' Equity and Redeemable Noncontrolling Interests - Adjustments for Items Reclassified Out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	$ 7,646	$ 4,184	$ (1,856)
Currency Translation Adjustments
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	2,413	32	(7,516)
Employee Benefit Plans
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization relating to employee benefit plans	6,754	5,146	7,269
Less - related income taxes	1,521	994	1,609
Total reclassifications, net of tax	$ 5,233	$ 4,152	$ 5,660

Members' Equity and Redeemabl_8

Members' Equity and Redeemable Noncontrolling Interests - Net Income (Loss) Attributable to Noncontrolling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	$ 18,173	$ 34,966	$ 14,481
Noncontrolling interest	46,585	108,144
LFI Consolidated Funds
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	10,150	(11,415)	7,950
Noncontrolling interest	0	74,164
Edgewater
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	6,051	31,314	10,466
Noncontrolling interest	46,571	44,681
LGAC
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	1,968	15,064	(3,940)
Noncontrolling interest	0	(10,714)
Other
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	4	3	$ 5
Noncontrolling interest	$ 14	$ 13

Incentive Plans - Additional In

Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Thousands		2 Months Ended	12 Months Ended
	Apr. 24, 2018	Feb. 22, 2024 USD ($)	Dec. 31, 2023 USD ($) d tranche $ / shares shares	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares	Feb. 01, 2021	Jan. 31, 2021
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred incentive compensation awards | $		$ 374,000
Cash retention awards granted | $		$ 95,000
Required service period		3 years
Lazard Fund Interests
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, period			9 months 18 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis			one-for-one
Number of dividend participation rights issued (in shares)			711,673
Units granted (in shares)			5,700,485
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 36.49	$ 33.73	$ 43.38
Unrecognized compensation expense | $			$ 122,498
Unrecognized compensation expense, period			10 months 24 days
RSUs | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
RSUs | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			66.67%
DSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis			one-for-one
Units granted (in shares)			62,654
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 29.71	35.78	46.75
DSUs | Non-Executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			62,654
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			670,064
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 37.60	33.37	43.80
Unrecognized compensation expense | $			$ 15,967
Unrecognized compensation expense, period			9 months 18 days
Dividend participation rights issued (in shares)			94,985
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			0
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 0	35.44	46.63
Unrecognized compensation expense | $			$ 1,185
Unrecognized compensation expense, period			4 months 24 days
Performance period			3 years
Common stock, conversion ratio			1
Vesting period			3 years
PRSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier			0
PRSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier			2.4
PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis			one-for-one
Unrecognized compensation expense | $			$ 57,954
Unrecognized compensation expense, period			1 year 9 months 18 days
PIPRs Excluding Stock Price PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Ordinary PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			1,521,458
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 34.50	32.95	43.23
P-PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			0
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 0	$ 35.44	$ 46.63
Performance period			3 years
Target number of shares of common stock			1
Minimum Value Condition, period			5 years
P-PIPRs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier						0	0
P-PIPRs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target number of shares, multiplier						2.4	2
SP-PIPRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			2,250,000
Weighted-average grant date fair value of awards granted (in usd per share) | $ / shares			$ 15.06
Award vesting, number of tranches | tranche			3
Common stock price, number of consecutive days | d			30
SP-PIPRs | Scenario, Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period, fair value | $			$ 33,900
SP-PIPRs | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			20%
Common stock price, appreciation period following date of grant			3 years
Common stock price, appreciation (as a percent)			25%
SP-PIPRs | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			40%
Common stock price, appreciation period following date of grant			5 years
Common stock price, appreciation (as a percent)			50%
SP-PIPRs | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			40%
Common stock price, appreciation period following date of grant			7 years
Common stock price, appreciation (as a percent)			100%
Common Stock | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery (in shares)			1,213,264
Delivery of common stock associated with stock awards (in shares)			2,158,820
Common Stock | RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery (in shares)			279,385
Delivery of common stock associated with stock awards (in shares)			405,260
2018 Equity Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements			50,000,000
Awarded Under 2008 Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation plan expiration period	Apr. 24, 2018

Incentive Plans - Schedule of I

Incentive Plans - Schedule of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based incentive awards:
Share-based incentive awards	$ 249,639	$ 239,524	$ 232,900
RSUs
Share-based incentive awards:
Share-based incentive awards	165,435	125,664	124,895
PRSUs
Share-based incentive awards:
Share-based incentive awards	2,488	2,011	6,136
RSAs
Share-based incentive awards:
Share-based incentive awards	25,073	23,923	17,765
PIPRs
Share-based incentive awards:
Share-based incentive awards	55,712	86,810	83,046
DSUs
Share-based incentive awards:
Share-based incentive awards	$ 931	$ 1,116	$ 1,058

Incentive Plans - Schedule of A

Incentive Plans - Schedule of Activity Relating to RSUs, PRSUs and DSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RSUs
Units
Units beginning balance (in shares)	9,022,917
Units granted (in shares)	5,700,485
Units forfeited (in shares)	(282,967)
Units settled (in shares)	(3,372,084)
Units ending balance (in shares)	11,068,351	9,022,917
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 37.97
Weighted average grant date fair value, granted (in usd per share)	36.49	$ 33.73	$ 43.38
Weighted average grant date fair value, forfeited (in usd per share)	35.37
Weighted average grant date fair value, settled (in usd per share)	41.65
Weighted average grant date fair value, ending balance (in usd per share)	$ 36.15	$ 37.97
Number of dividend participation rights issued (in shares)	711,673
PRSUs
Units
Units beginning balance (in shares)	94,690
Units granted (in shares)	0
Units forfeited (in shares)	0
Units settled (in shares)	0
Performance units earned (in shares)	30,775
Units ending balance (in shares)	125,465	94,690
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 39.27
Weighted average grant date fair value, granted (in usd per share)	0	$ 35.44	46.63
Weighted average grant date fair value, forfeited (in usd per share)	0
Weighted average grant date fair value, settled (in usd per share)	0
Weighted average grant date fair value, performance units earned (in usd per share)	46.63
Weighted average grant date fair value, ending balance (in usd per share)	$ 41.07	$ 39.27
DSUs
Units
Units beginning balance (in shares)	400,820
Units granted (in shares)	62,654
Units forfeited (in shares)	0
Units settled (in shares)	(134,744)
Units ending balance (in shares)	328,730	400,820
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 37.66
Weighted average grant date fair value, granted (in usd per share)	29.71	$ 35.78	$ 46.75
Weighted average grant date fair value, forfeited (in usd per share)	0
Weighted average grant date fair value, settled (in usd per share)	36.21
Weighted average grant date fair value, ending balance (in usd per share)	$ 36.74	$ 37.66

Incentive Plans - Summary of Ac

Incentive Plans - Summary of Activity Related to RSAs (Details) - RSAs - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Units
Units beginning balance (in shares)	1,266,424
Units granted (in shares)	670,064
Units forfeited (in shares)	(15,897)
Units settled (in shares)	(684,645)
Units ending balance (in shares)	1,235,946	1,266,424
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 36.99
Weighted average grant date fair value, granted (in usd per share)	37.60	$ 33.37	$ 43.80
Weighted average grant date fair value, forfeited (in usd per share)	39.14
Weighted average grant date fair value, settled (in usd per share)	39.13
Weighted average grant date fair value, ending balance (in usd per share)	$ 36.10	$ 36.99
Number of dividend participation rights issued	94,985

Incentive Plans - Summary of _2

Incentive Plans - Summary of Activity Relating to PRSUs (Details) - PRSUs	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Units
Units beginning balance (in shares) | shares	94,690
Performance units earned (in shares) | shares	30,775
Units ending balance (in shares) | shares	125,465
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share) | $ / shares	$ 39.27
Weighted average grant date fair value, performance units earned (in usd per share) | $ / shares	46.63
Weighted average grant date fair value, ending balance (in usd per share) | $ / shares	$ 41.07

Incentive Plans - Summary of _3

Incentive Plans - Summary of Activity Relating to PIPRs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Ordinary PIPRs
Units
Units beginning balance (in shares)	1,684,404
Units granted (in shares)	1,521,458
Units forfeited (in shares)	(16,695)
Units settled (in shares)	(548,398)
Units ending balance (in shares)	2,640,769	1,684,404
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 39.96
Weighted average grant date fair value, granted (in usd per share)	34.50	$ 32.95	$ 43.23
Weighted average grant date fair value, forfeited (in usd per share)	43.23
Weighted average grant date fair value, settled (in usd per share)	42.89
Weighted average grant date fair value, ending balance (in usd per share)	$ 36.19	$ 39.96
P-PIPRs
Units
Units beginning balance (in shares)	2,447,224
Units granted (in shares)	0
Units forfeited (in shares)	0
Units settled (in shares)	(973,222)
Units, performance units earned (in shares)	484,827
Units ending balance (in shares)	1,958,829	2,447,224
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 40.29
Weighted average grant date fair value, granted (in usd per share)	0	$ 35.44	$ 46.63
Weighted average grant date fair value, forfeited (in usd per share)	0
Weighted average grant date fair value, settled (in usd per share)	41.76
Weighted average grant date fair value, performance units earned (in usd per share)	46.63
Weighted average grant date fair value, ending balance (in usd per share)	$ 41.12	$ 40.29
SP-PIPRs
Units
Units beginning balance (in shares)	0
Units granted (in shares)	2,250,000
Units forfeited (in shares)	0
Units settled (in shares)	0
Units ending balance (in shares)	2,250,000	0
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in usd per share)	$ 0
Weighted average grant date fair value, granted (in usd per share)	15.06
Weighted average grant date fair value, forfeited (in usd per share)	0
Weighted average grant date fair value, settled (in usd per share)	0
Weighted average grant date fair value, ending balance (in usd per share)	$ 15.06	$ 0

Incentive Plans - Schedule of L

Incentive Plans - Schedule of LFI and Other Similar Deferred Compensation Arrangements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Prepaid Compensation Asset
Prepaid compensation asset, beginning balance	$ 112,124
Prepaid compensation asset, granted	159,981
Prepaid compensation asset, settled	0
Prepaid compensation asset, amortization and the impact of forfeitures	(156,254)
Prepaid compensation asset, change in fair value of underlying investments	0
Prepaid compensation asset, other	121
Prepaid compensation asset, ending balance	115,972
LFI and other similar deferred compensation arrangements
Compensation Liability
Derivative liability, beginning balance	326,282
Derivative liability, granted	159,981
Derivative liability, settled	(171,738)
Derivative liability, amortization and the impact of forfeitures	8,103
Derivative liability, change in fair value of underlying investments	41,463
Derivative liability, other	1,329
Derivative liability, ending balance	$ 365,420

Incentive Plans - Schedule of_2

Incentive Plans - Schedule of Impact of LFI and Other Similar Deferred Compensation Arrangements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Amortization and the impact of forfeitures	$ 164,357	$ 154,878	$ 151,604
Change in the fair value of underlying investments	41,463	(44,261)	35,494
Total	$ 205,820	$ 110,617	$ 187,098

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Equity funds that are invested in funds managed by the company	$ 63,927	$ 54,810
Contributions to employer sponsored defined contribution plans	$ 22,190	$ 19,636	$ 17,764
Pension Plans | U.S. | Level 1 and NAV | Equity funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	50%	57%
Pension Plans | U.S. | Level 1 | Debt funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	47%	42%
Pension Plans | U.S. | Level 1 | Cash
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	3%	1%
Pension Plans | Non-U.S. | Level 1 and Level 2 | Equities and equity funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	26%	25%
Pension Plans | Non-U.S. | Level 1, Level 2 and NAV | Debt and debt funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	70%	66%
Pension Plans | Non-U.S. | Level 1 and Level 2 or NAV | Cash, other investments and alternative investment funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	4%	9%

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in plan assets
Fair value of plan assets at beginning of year	$ 468,872
Fair value of plan assets at end of year	496,451	$ 468,872
Pension Plans
Change in benefit obligation
Benefit obligation at beginning of year	440,050	731,978
Service cost	338	543	$ 876
Interest cost	20,930	11,130	8,679
Amendments	10,201	0
Actuarial (gain) loss	21,937	(203,009)
Benefits paid	(25,542)	(29,357)
Foreign currency translation and other adjustments	22,787	(71,235)
Benefit obligation at end of year	490,701	440,050	731,978
Change in plan assets
Fair value of plan assets at beginning of year	468,872	782,463
Actual return on plan assets	22,461	(215,237)	26,046
Employer contributions	5,673	4,206	4,493
Benefits paid	(25,542)	(29,357)	(29,327)
Foreign currency translation and other adjustments	24,987	(73,203)
Fair value of plan assets at end of year	496,451	468,872	$ 782,463
Funded (deficit) at end of year	5,750	28,822
Prepaid pension asset (included in “other assets”)	10,507	35,268
Accrued benefit liability (included in “other liabilities”)	(4,757)	(6,446)
Net amount recognized	5,750	28,822
Actuarial net loss	193,193	167,724
Prior service cost	12,782	2,572
Net amount recognized	205,975	170,296
Tax benefits on amounts recognized in OCI	$ 38,516	$ 29,813

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Fair Value of Plan Assets, Accumulated Benefit Obligation and Projected Benefit Obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 496,451	$ 468,872
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	496,451	468,872	$ 782,463
Accumulated benefit obligation	490,701	440,050
Projected benefit obligation	490,701	440,050	$ 731,978
Pension Plans | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15,511	14,983
Accumulated benefit obligation	19,999	20,518
Projected benefit obligation	19,999	20,518
Pension Plans | Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	480,940	453,889
Accumulated benefit obligation	470,702	419,532
Projected benefit obligation	$ 470,702	$ 419,532

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amortization of:
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other
Pension Plans
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 338	$ 543	$ 876
Interest cost	20,930	11,130	8,679
Expected return on plan assets	(23,942)	(24,482)	(26,077)
Amortization of:
Prior service cost	107	106	118
Net actuarial loss	6,647	5,040	7,151
Settlement loss	0	0	1,056
Net periodic benefit cost (credit)	4,080	(7,663)	(8,197)
Actual return on plan assets	22,461	(215,237)	26,046
Employer contributions	5,673	4,206	4,493
Benefits paid	25,542	29,357	29,327
Net actuarial (gain) loss	23,521	31,174	(40,717)
Prior service cost	10,172	0	0
Reclassification of prior service (cost) credit to earnings	(107)	(106)	(118)
Reclassification of actuarial gain (loss) to earnings	(6,647)	(5,040)	(7,151)
Currency translation and other adjustments	8,740	(13,783)	(5,860)
Total recognized in AOCI	35,679	12,245	(53,846)
Net amount recognized in total periodic benefit cost and AOCI	39,759	4,582	(62,043)
Tax expense (benefit) on other changes in plan assets and benefit obligations recognized in AOCI	$ (8,703)	$ (4,443)	$ 13,521

Employee Benefit Plans - Sche_3

Employee Benefit Plans - Schedule of Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation and Net Periodic Pension Cost (Details) - Pension Plans	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Weighted average assumptions used to determine benefit obligations, Discount rate	4.40%	4.70%	1.80%
Weighted average assumptions used to determine net periodic benefit cost, Discount rate	4.30%	2.10%	1.10%
Weighted average assumptions used to determine net periodic benefit cost, Expected long-term rate of return on plan assets	5.10%	3.40%	3.30%

Employee Benefit Plans - Sche_4

Employee Benefit Plans - Schedule of Expected Benefit Payments (Details) - Pension Plans $ in Thousands	Dec. 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2024	$ 28,564
2025	27,844
2026	28,130
2027	28,654
2028	29,105
2029-2033	$ 146,096

Employee Benefit Plans - Sche_5

Employee Benefit Plans - Schedule of Categorization of Plans' Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	$ 496,451	$ 468,872
Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	128,038	168,460
Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	118,786	64,020
Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	249,627	236,392
Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	9,286	18,084
Cash | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	9,286	18,084
Cash | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Cash | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Cash | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Debt
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	41,215	79,505
Debt | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	41,215	79,505
Debt | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Debt | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Debt | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	11,496	15,480
Equities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	11,496	15,480
Equities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Equities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Equities | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Alternative investments funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	6,640	9,113
Alternative investments funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Alternative investments funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Alternative investments funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Alternative investments funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	6,640	9,113
Debt funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	302,697	226,491
Debt funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	7,268	6,350
Debt funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	58,876	0
Debt funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Debt funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	236,553	220,141
Equity funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	120,899	105,476
Equity funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	58,773	49,041
Equity funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	55,692	49,297
Equity funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Equity funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	6,434	7,138
Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	4,218	14,723
Other | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Other | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	4,218	14,723
Other | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	0	0
Other | NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	$ 0	$ 0

Cost-Savings Initiatives - Expe

Cost-Savings Initiatives - Expenses Associated with Cost Savings Initiatives (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Cost Saving initiatives [Line Items]
Restructuring charges		$ 196,818
Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges		178,341
Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges		8,021
Foreign exchange related losses associated with closing of certain offices (included in "revenue-other")
Cost Saving initiatives [Line Items]
Restructuring charges		5,465
Other
Cost Saving initiatives [Line Items]
Restructuring charges		4,991
Compensation and Benefits Expense | Forecast
Cost Saving initiatives [Line Items]
Restructuring charges	$ 40,000
Operating Segments | Financial Advisory
Cost Saving initiatives [Line Items]
Restructuring charges		99,242
Operating Segments | Financial Advisory | Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges		94,457
Operating Segments | Financial Advisory | Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges		144
Operating Segments | Financial Advisory | Foreign exchange related losses associated with closing of certain offices (included in "revenue-other")
Cost Saving initiatives [Line Items]
Restructuring charges		2,411
Operating Segments | Financial Advisory | Other
Cost Saving initiatives [Line Items]
Restructuring charges		2,230
Operating Segments | Asset Management
Cost Saving initiatives [Line Items]
Restructuring charges		57,499
Operating Segments | Asset Management | Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges		49,152
Operating Segments | Asset Management | Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges		7,877
Operating Segments | Asset Management | Foreign exchange related losses associated with closing of certain offices (included in "revenue-other")
Cost Saving initiatives [Line Items]
Restructuring charges		0
Operating Segments | Asset Management | Other
Cost Saving initiatives [Line Items]
Restructuring charges		470
Corporate
Cost Saving initiatives [Line Items]
Restructuring charges		40,077
Corporate | Severance and other employee termination expenses (included in "compensation and benefits" expense)
Cost Saving initiatives [Line Items]
Restructuring charges		34,732
Corporate | Technology asset impairments (included in "technology and information services")
Cost Saving initiatives [Line Items]
Restructuring charges		0
Corporate | Foreign exchange related losses associated with closing of certain offices (included in "revenue-other")
Cost Saving initiatives [Line Items]
Restructuring charges		3,054
Corporate | Other
Cost Saving initiatives [Line Items]
Restructuring charges		$ 2,291

Cost-Savings Initiatives - Acti

Cost-Savings Initiatives - Activity Related to Cost Savings Initiatives (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 0
Total expenses	196,818
Noncash expenses	43,970
Payments and settlements	100,550
Balance at end of period	52,298
Accrued Compensation and Benefits
Restructuring Reserve [Roll Forward]
Balance at beginning of period	0
Total expenses	178,341
Noncash expenses	32,757
Payments and settlements	94,238
Balance at end of period	51,346
Other
Restructuring Reserve [Roll Forward]
Balance at beginning of period	0
Total expenses	18,477
Noncash expenses	11,213
Payments and settlements	6,312
Balance at end of period	$ 952

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 169	$ 248	$ (3,808)
Foreign	53,131	71,800	98,142
State and local	2,731	5,810	1,495
Total current	56,031	77,858	95,829
Deferred:
Federal	(57)	5	82
Foreign	(5,045)	3,299	5,081
State and local	(1,870)	491	695
Total deferred	(6,972)	3,795	5,858
Total	$ 49,059	$ 81,653	$ 101,687

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Tax Rates (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21%	21%	21%
Rate benefit for U.S. Partnership operations	(21.00%)	(21.00%)	(21.00%)
Foreign taxes	(43.50%)	15%	13.30%
State and local taxes	0%	1%	0.70%
Uncertain tax positions	(0.90%)	(0.30%)	(0.30%)
Other	(0.10%)	0%	(0.50%)
Effective income tax rate	(44.50%)	15.70%	13.20%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets:
Basis adjustments	$ 0	$ 22
Compensation and benefits	73,722	63,334
Net operating loss and tax credit carryforwards	80,795	76,509
Depreciation and amortization	5,520	5,041
Other	10,463	9,111
Gross deferred tax assets	170,500	154,017
Valuation allowance	(79,127)	(80,347)
Deferred tax assets (net of valuation allowance)	91,373	73,670
Deferred Tax Liabilities:
Depreciation and amortization	3,787	4,476
Compensation and benefits	21,500	22,927
Goodwill	1,742	1,512
Other	15,976	11,074
Deferred tax liabilities	43,005	39,989
Net deferred tax assets	$ 48,368	$ 33,681

Income Taxes- Additional Inform

Income Taxes- Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax [Line Items]
Deferred tax assets, valuation allowance	$ 79,127	$ 80,347
Deferred tax assets recorded due to net operating losses and tax credit carryforwards	80,795
Indefinite-lived net operating loss carryforwards	27,000
Unrecognized tax benefits, including interest and penalties recorded that may be recognized within 12 months	9,700
U.S.
Income Tax [Line Items]
Amount of certain net operating loss tax carryforwards	47,000
Foreign
Income Tax [Line Items]
Certain tax carryforwards	$ 5,600

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes in Deferred Tax Assets Valuation Allowance (Details) - Valuation Allowance, Deferred Tax Asset - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	$ 79,127	$ 80,347	$ 79,129	$ 76,728
Charged (credited) to provision for income taxes	(474)	6,844	4,400
Charged (credited) to other comprehensive income and other	(746)	(5,626)	(1,999)
Ending Balance	$ 79,127	$ 80,347	$ 79,129

Income Taxes - Schedule of Gros

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Interest and penalties	$ 18,446	$ 17,855	$ 18,442	$ 18,745
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, January 1 (excluding interest and penalties of $17,855, $18,442 and $18,745, respectively)	52,877	53,507	55,725
Increases in gross unrecognized tax benefits relating to tax positions taken during prior years	265	257	165
Increases in gross unrecognized tax benefits relating to tax positions taken during current year	11,658	13,273	11,841
Decreases in gross unrecognized tax benefits relating to tax positions taken during prior years	(837)	(975)	(5,774)
Decreases in gross unrecognized tax benefits relating to settlements with tax authorities	(243)	(43)	(134)
Decreases in gross unrecognized tax benefits relating to lapse of the applicable statute of limitations	(9,733)	(13,142)	(8,316)
Balance, December 31 (excluding interest and penalties of $18,446, $17,855 and $18,442, respectively)	$ 53,987	$ 52,877	$ 53,507

Income Taxes - Schedule of Addi

Income Taxes - Schedule of Additional Information Relating to Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $18,446, $17,855 and $18,442, respectively)	$ 60,225	$ 59,202	$ 61,452
Unrecognized tax benefits that, if recognized, would not affect the effective tax rate	12,208	11,530	10,497
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $5,446, $6,344 and $5,210, respectively)	591	(587)	(303)
Interest and penalties	18,446	17,855	18,442	$ 18,745
Reversal of interest and penalties	$ 5,446	$ 6,344	$ 5,210

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Fees receivable	$ 560,552	$ 491,861
Lazard Ltd Subsidiaries
Related Party Transaction [Line Items]
Partial settlement of interest-bearing loans			$ 10,536
Shares transfer			241,235
Investment Advisor
Related Party Transaction [Line Items]
Type of Revenue [Extensible List]	Asset management fees	Asset management fees	Asset management fees
Investment Advisor | Sponsored Funds
Related Party Transaction [Line Items]
Revenue	$ 538,457	$ 592,985	$ 708,900
Fees receivable	$ 67,598	$ 57,283

Regulatory Authorities - Additi

Regulatory Authorities - Additional Information (Details) $ in Thousands	Dec. 31, 2023 USD ($)
LFNY
Regulatory Requirements [Line Items]
Minimum net capital requirement as defined under exchange act	$ 5
Minimum net capital requirement	6,529
U.K. Subsidiaries
Regulatory Requirements [Line Items]
Regulatory capital	220,204
Regulatory capital in excess of minimum requirement	154,383
CFLF
Regulatory Requirements [Line Items]
Regulatory capital	156,703
Regulatory capital in excess of minimum requirement	62,519
Combined European Regulated Group
Regulatory Requirements [Line Items]
Regulatory capital	181,665
Regulatory capital in excess of minimum requirement	78,796
Other U.S. and Non-U.S. Subsidiaries
Regulatory Requirements [Line Items]
Regulatory capital	143,682
Regulatory capital in excess of minimum requirement	$ 120,239

Segment Information - Segment's

Segment Information - Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net Revenue	$ 2,516,228	$ 2,764,289	$ 3,223,209
Operating Expenses	2,626,412	2,243,488	2,452,546
Operating Income (Loss)	(110,184)	520,801	770,663
Depreciation and amortization of property	42,847	42,037	38,014
Total assets	4,230,325	5,461,799
Operating Segments | Financial Advisory
Segment Reporting Information [Line Items]
Net Revenue	1,384,341	1,655,596	1,794,132
Operating Expenses	1,483,427	1,292,382	1,345,849
Operating Income (Loss)	(99,086)	363,214	448,283
Depreciation and amortization of property	8,511	8,669	8,180
Total assets	1,131,657	1,074,278
Operating Segments | Asset Management
Segment Reporting Information [Line Items]
Net Revenue	1,151,496	1,204,927	1,424,985
Operating Expenses	1,011,574	963,640	1,032,825
Operating Income (Loss)	139,922	241,287	392,160
Depreciation and amortization of property	6,476	9,390	5,618
Total assets	1,232,364	1,786,830
Corporate
Segment Reporting Information [Line Items]
Net Revenue	(19,609)	(96,234)	4,092
Operating Expenses	131,411	(12,534)	73,872
Operating Income (Loss)	(151,020)	(83,700)	(69,780)
Depreciation and amortization of property	27,860	23,978	$ 24,216
Total assets	$ 1,866,304	$ 2,600,691

Segment Information - Schedule

Segment Information - Schedule of Revenue from External Customers and Identifiable Assets, by Geographical Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net Revenue	$ 2,516,228	$ 2,764,289	$ 3,223,209
Operating Income	(110,184)	520,801	770,663
Total Assets	4,230,325	5,461,799
Americas
Segment Reporting Information [Line Items]
Net Revenue	1,193,795	1,477,774	1,810,976
Operating Income	(255,084)	239,593	446,731
Total Assets	2,403,506	3,067,477
EMEA
Segment Reporting Information [Line Items]
Net Revenue	1,162,052	1,136,636	1,251,058
Operating Income	108,058	248,404	295,991
Total Assets	1,679,644	2,218,147
Asia Pacific
Segment Reporting Information [Line Items]
Net Revenue	160,381	149,879	161,175
Operating Income	36,842	32,804	$ 27,941
Total Assets	$ 147,175	$ 176,175

Consolidated VIEs - Additional

Consolidated VIEs - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments	$ 701,964	$ 698,977
Investment, Type [Extensible Enumeration]	Lazard Fund Interests	Lazard Fund Interests
Lazard Group LLC
Variable Interest Entity [Line Items]
Investments	$ 113,174	$ 115,666

Consolidated VIEs - Summary of

Consolidated VIEs - Summary of Consolidated VIE Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 966,168	$ 1,180,473	$ 1,435,576
Customers and other receivables	201,767	160,898
Investments	701,964	698,977
Other assets	398,983	376,196
Total assets	4,230,325	5,461,799
Liabilities:
Deposits and other customer payables	443,262	921,834
Other liabilities	538,363	531,968
Total liabilities	3,960,185	4,411,815
Consolidated VIEs
ASSETS
Cash and cash equivalents	4,627	3,644
Customers and other receivables	23,277	240
Investments	196,112	186,300
Other assets	683	622
Total assets	224,699	190,806
Liabilities:
Deposits and other customer payables	23,498	528
Other liabilities	353	448
Total liabilities	$ 23,851	$ 976

Schedule I - Condensed Financ_2

Schedule I - Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 966,168		$ 1,180,473		$ 1,435,576
Investments in subsidiaries, equity method	0		15,481
Property net	232,516		250,037
Operating lease right-of-use assets	406,428		430,665
Goodwill and other intangible assets, net	373,604		356,459
Other assets	398,983		376,196
Total Assets	4,230,325		5,461,799
Liabilities:
Accrued compensation and benefits	780,789		733,460
Due to subsidiaries and other liabilities	538,363		531,968
Operating lease liabilities	484,380		512,730
Senior debt	1,690,200		1,687,714
Total liabilities	3,960,185		4,411,815
Commitments and contingencies
Members' equity	410,311		638,956
MEMBERS’ EQUITY
Accumulated other comprehensive loss, net of tax	(274,431)		(280,587)
Total Members’ Equity	182,465	[1]	466,513	[2]	874,466	[3]	$ 710,869
Total Liabilities, Redeemable Noncontrolling Interests and Members’ Equity	4,230,325		5,461,799
Parent Company
ASSETS
Cash and cash equivalents	43,924		142,793		$ 75,844		$ 242,339
Other receivables, net	1,527		12,658
Investments in subsidiaries, equity method	1,407,434		1,441,091
Other Investments	226,610		234,371
Property net	80,208		85,669
Operating lease right-of-use assets	290,791		295,369
Goodwill and other intangible assets, net	148,796		148,796
Other assets	113,021		74,192
Total Assets	2,953,374		2,944,314
Liabilities:
Accrued compensation and benefits	263,022		190,837
Due to subsidiaries and other liabilities	31,440		32,918
Operating lease liabilities	354,936		361,396
Senior debt	1,690,200		1,687,714
Total liabilities	2,817,494		2,585,945
Commitments and contingencies
Members' equity	410,311		638,956
MEMBERS’ EQUITY
Accumulated other comprehensive loss, net of tax	(274,431)		(280,587)
Total Members’ Equity	135,880		358,369
Total Liabilities, Redeemable Noncontrolling Interests and Members’ Equity	2,953,374		2,944,314
Parent Company | Subsidiaries of Lazard Ltd
ASSETS
Other receivables, net	641,063		509,375
Liabilities:
Due to subsidiaries and other liabilities	$ 477,896		$ 313,080
[1] (*) At December 31, 2023, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2022, in addition to profit participation interests, there were two managing member interests. (*) At December 31, 2021, in addition to profit participation interests, there were two managing member interests.

Schedule I - Condensed Financ_3

Schedule I - Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUE
Interest income	$ 41,435	$ 29,214	$ 5,609
Other	89,044	40,964	158,615
Total revenue	2,591,602	2,844,653	3,303,778
Interest expense	75,374	80,364	80,569
Net revenue	2,516,228	2,764,289	3,223,209
OPERATING EXPENSES
Compensation and benefits	1,939,840	1,647,811	1,884,859
Professional services	82,968	66,929	75,337
Other	72,903	42,694	45,117
Total operating expenses	2,626,412	2,243,488	2,452,546
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	(177,416)	404,182	654,495
Operating Income (Loss)	(110,184)	520,801	770,663
Provision for income taxes	49,059	81,653	101,687
Parent Company
REVENUE
Equity in earnings of subsidiaries	56,147	607,764	827,651
Interest income	2,845	2,999	327
Other	12,668	(20,255)	55,709
Total revenue	71,660	590,508	883,687
Interest expense	83,555	75,978	74,210
Net revenue	(11,895)	514,530	809,477
OPERATING EXPENSES
Compensation and benefits	135,823	97,797	142,260
Professional services	17,202	7,720	6,457
Other	13,129	1,056	4,505
Total operating expenses	166,154	106,573	153,222
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	(177,416)	404,182	654,495
Operating Income (Loss)	(178,049)	407,957	656,255
Provision for income taxes	$ (633)	$ 3,775	$ 1,760

Schedule I - Condensed Financ_4

Schedule I - Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Statement of Income Captions [Line Items]
NET INCOME	$ (177,416)	$ 404,182	$ 654,495
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments before reclassification	30,720	(63,779)	(48,401)
Adjustment for items reclassified to earnings	2,413	32	(7,516)
Employee benefit plans:
Actuarial gain (loss) (net of tax expense (benefit) of $(7,657), $(5,437) and $11,912 for the years ended December 31, 2023, 2022 and 2021, respectively)	(24,459)	(11,955)	34,666
Prior service cost (net of tax benefit of $2,567 for the year ended December 31, 2023)	(7,751)	0	0
Adjustments for items reclassified to earnings (net of tax expense of $1,521, $994 and $1,609 for the years ended December 31, 2023, 2022 and 2021, respectively)	5,233	4,152	5,660
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	6,156	(71,550)	(15,591)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	(171,260)	332,632	638,904
Parent Company
Condensed Statement of Income Captions [Line Items]
NET INCOME	(177,416)	404,182	654,495
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments before reclassification	30,720	(63,779)	(48,401)
Adjustment for items reclassified to earnings	2,413	32	(7,516)
Employee benefit plans:
Actuarial gain (loss) (net of tax expense (benefit) of $(7,657), $(5,437) and $11,912 for the years ended December 31, 2023, 2022 and 2021, respectively)	(24,459)	(11,955)	34,666
Prior service cost (net of tax benefit of $2,567 for the year ended December 31, 2023)	(7,751)	0	0
Adjustments for items reclassified to earnings (net of tax expense of $1,521, $994 and $1,609 for the years ended December 31, 2023, 2022 and 2021, respectively)	5,233	4,152	5,660
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	6,156	(71,550)	(15,591)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC	$ (171,260)	$ 332,632	$ 638,904

Schedule I - Condensed Financ_5

Schedule I - Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Comprehensive Income (Loss) (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	$ (7,657)	$ (5,437)	$ 11,912
Tax benefit on prior service credit	2,567
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	1,521	994	1,609
Parent Company
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	(7,657)	(5,437)	11,912
Tax benefit on prior service credit	2,567
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 1,521	$ 994	$ 1,609

Schedule I - Condensed Financ_6

Schedule I - Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (177,416)	$ 404,182	$ 654,495
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred tax provision (benefit)	(6,972)	3,795	5,858
Amortization of deferred expenses and share-based incentive compensation	428,592	405,125	393,056
Depreciation and amortization of property	42,847	42,037	38,014
Impairment of equity method investments and other receivables	22,981	0	0
Changes in operating assets and liabilities:
Net cash provided by operating activities	170,628	834,258	920,017
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(28,297)	(49,509)	(39,698)
Net cash used in investing activities	(38,352)	(56,436)	(39,057)
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributions from members	0	0	14,000
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements	(54,528)	(61,916)	(68,012)
Purchase of Lazard Ltd Class A common stock	(102,051)	(691,705)	(406,149)
Other financing activities	(12,462)	(11,035)	(8,450)
Net cash provided by (used in) financing activities	(1,527,894)	(1,407,162)	182,762
Net increase (decrease) in cash and cash equivalents	(1,365,265)	(815,468)	901,905
Cash and cash equivalents, January 1	1,180,473	1,435,576
Cash and cash equivalents, December 31	966,168	1,180,473	1,435,576
Parent Company
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(177,416)	404,182	654,495
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of subsidiaries	(56,147)	(607,764)	(827,651)
Deferred tax provision (benefit)	(608)	443	271
Amortization of deferred expenses and share-based incentive compensation	358,720	341,317	346,981
Depreciation and amortization of property	10,719	12,722	10,775
Noncash lease expense	23,211	23,996	22,603
Impairment of equity method investments and other receivables	19,129	0	0
Distributions received from subsidiaries	173,848	757,968	651,362
Changes in operating assets and liabilities:
Due to/from subsidiaries	30,994	16,806	80,921
Other investments	(123,345)	223,106	(352,359)
Other operating assets and liabilities	24,591	(95,530)	(21,778)
Net cash provided by operating activities	283,696	1,077,246	565,620
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(8,422)	(3,912)	(4,123)
Capital contribution to subsidiaries	(44,420)	(6,257)	(26,168)
Other investing activities	0	(7,500)	0
Net cash used in investing activities	(52,842)	(17,669)	(30,291)
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributions from members	0	0	14,000
Other financing activities	450	50	0
Distributions to members	(161,984)	(228,045)	(233,234)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements	(54,528)	(61,916)	(68,012)
Purchase of Lazard Ltd Class A common stock	(102,051)	(691,705)	(406,149)
Other financing activities	(11,610)	(11,012)	(8,429)
Net cash provided by (used in) financing activities	(329,723)	(992,628)	(701,824)
Net increase (decrease) in cash and cash equivalents	(98,869)	66,949	(166,495)
Cash and cash equivalents, January 1	142,793	75,844	242,339
Cash and cash equivalents, December 31	$ 43,924	$ 142,793	$ 75,844