View Filing Data

Compensation and benefits

74,866

64,233

89,168

Total revenue

1,919,638

2,003,077

1,638,408

Interest expense

90,126

97,709

107,890

Net revenue

1,829,512

1,905,368

1,530,518

OPERATING EXPENSES

1,168,945

1,194,168

1,309,240

Occupancy and equipment

100,698

88,328

88,453

Marketing and business development

88,411

77,057

64,047

Technology and information services

83,212

73,744

69,620

Professional services

48,324

43,502

44,569

Fund administration and outsourced services

52,793

47,574

37,927

Amortization of intangible assets related to acquisitions

11,915

7,867

4,990

Provision (benefit) pursuant to tax receivable agreement

429

2,361

(1,258)

Restructuring

87,108

62,550

Provision for income taxes

39,286

40,009

32,614

Total operating expenses

^[1]

1,594,013

1,661,718

1,712,752

OPERATING INCOME (LOSS)

235,499

243,650

(182,234)

44,940

49,227

6,011

NET INCOME (LOSS)

190,559

194,423

(188,245)

LESS - NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

15,642

19,444

(58,003)

NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD LTD

$ 174,917

$ 174,979

$ (130,242)

WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:

Basic

118,032,020

104,411,253

78,311,947

Diluted

137,629,525

138,469,654

78,311,947

NET INCOME (LOSS) PER SHARE OF COMMON STOCK:

Basic

$ 1.48

$ 1.68

$ (1.68)

Diluted

1.36

(1.68)

DIVIDENDS DECLARED PER SHARE OF COMMON STOCK

$ 0.605

$ 0.50

$ 0.45

[1]	Operating expenses include depreciation and amortization of property as set forth in table below.

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 190,559	$ 194,423	$ (188,245)
Noncash items included in net income (loss):
Depreciation and amortization of property	24,580	22,712	22,541
Amortization of deferred expenses, share-based incentive compensation and interest rate hedge	300,286	316,232	372,472
Amortization of intangible assets related to acquisitions	11,915	7,867	4,990
Deferred tax provision (benefit)	7,214	8,116	(23,434)
Investment losses (including other-than-temporary impairment losses)		8,854	1,825
(Gains) loss on extinguishment of debt	(18,171)	424	(258)
(Increase) decrease in operating assets:
Deposits with banks	63,639	(221,072)	84,033
Cash deposited with clearing organizations and other segregated cash	16,408	(73,005)	(5,004)
Receivables-net	61,153	(52,690)	(26,357)
Investments	31,543	(50,809)	(37,293)
Other assets	(61,648)	(11,534)	25,579
Increase (decrease) in operating liabilities:
Deposits and other payables	(63,141)	46,750	(249,777)
Accrued compensation and benefits and other liabilities	(166,535)	(27,470)	263,703
Net cash provided by operating activities	397,802	168,798	244,775
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses in 2009 (net of cash acquired of $6,641), and equity method investments			(39,139)
Distributions relating to equity method investments		51,437
Additions to property	(46,438)	(13,382)	(11,913)
Disposals of property	1,161	432	583
Purchases of held-to-maturity securities			(136,095)
Proceeds from sales of held-to-maturity securities		132,209
Purchases of available-for-sale securities			(3,466)
Proceeds from sales and maturities of available-for-sale securities		241,029	93,472
Net cash provided by (used) in investing activities	(45,277)	411,725	(96,558)
Proceeds from:
Contributions from noncontrolling interests	17,505	4,624	1,474
Excess tax benefits from share-based incentive compensation	1,386
Other financing activities		33,312	52
Payments for:
Senior and subordinated debt	(131,829)	(10,375)	(635)
Capital lease obligations	(2,322)	(2,400)	(2,980)
Distributions to noncontrolling interests	(33,734)	(37,587)	(52,739)
Repurchase of common membership interests from members of LAZ-MD Holdings	(794)	(7,248)	(13,285)
Purchase of Class A common stock	(204,835)	(149,981)	(50,479)
Class A common stock dividends	(70,572)	(50,581)	(33,451)
Settlement of vested share-based incentive compensation	(93,750)	(57,576)	(13,479)
Other financing activities	(33,414)	(74)	(40)
Net cash used in financing activities	(552,359)	(277,886)	(165,562)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(6,070)	(10,271)	24,967
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(205,904)	292,366	7,622
CASH AND CASH EQUIVALENTS-January 1	1,209,695	917,329	909,707
CASH AND CASH EQUIVALENTS-December 31	1,003,791	1,209,695	917,329
Supplemental investing non-cash transaction:
Class A common stock issued/issuable in connection with business acquisitions	39,654	41,174	10,946
Cash paid during the year for:
Interest	92,702	102,110	99,491
Income taxes	$ 56,568	$ 69,454	$ 31,476

Consolidated Statements Of Cash Flows (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2009 USD ($)
Condensed Consolidated Statements Of Cash Flows [Abstract]
Acquisition of businesses, net of cash acquired	$ 6,641

Consolidated Statements Of Changes In Stockholders' Equity - USD ($)
$ in Thousands

Series A Preferred Stock [Member]

Common Stock [Member]

Additional Paid-In-Capital [Member]

Retained Earnings [Member]

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Member]

Class A Common Stock Held By Subsidiaries [Member]

Total Lazard Ltd Stockholders' Equity [Member]

Noncontrolling Interests [Member]

Total

Beginning balance (in shares) at Dec. 31, 2008

31,745

76,294,913

^[1]

9,376,162

Balance at Dec. 31, 2008

$ 763

$ 429,694

$ 221,410

$ (79,435)

$ (321,852)

$ 250,580

$ 61,172

$ 311,752

Comprehensive income (loss):

Other comprehensive income (loss) - net of tax:

(130,242)

(58,003)

(188,245)

37,355

16,250

53,605

803

274

1,077

Net unrealized gain

20,575

7,039

27,614

945

323

1,268

(11,290)

(3,862)

(15,152)

(13,573)

(4,642)

(18,215)

Comprehensive income (loss)

2,260

773

3,033

(93,167)

(41,848)

(135,015)

Business acquisitions:

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization) (in Shares)

^[1]

1,473,866

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

$ 15

28,126

28,141

10,999

39,140

Conversion of Series A preferred stock into Class A common stock (in shares)

(4,862)

479,732

^[1]

Conversion of Series A preferred stock into Class A common stock

$ 5

(5)

268,129

91,249

359,378

4,951

(4,991)

(40)

(33,451)

1,984,997

Delivery of Class A common stock in connection with share-based incentive compensation (in shares)

$ (50,479)

(50,479)

(5,510,384)

Delivery of Class A common stock in connection with share-based incentive compensation

(194,670)

$ 181,191

(13,479)

Repurchase of common membership interests from LAZ-MD Holdings

(9,900)

(3,385)

(13,285)

Class A common stock issued in exchange for Lazard Group common membership interests (in shares)

^[1]

13,917,402

Class A common stock issued in exchange for Lazard Group common membership interests

$ 139

(139)

Acquisitions of and distributions to noncontrolling interests, net

58,576

23,745

(14,688)

9,057

(9,057)

Ending balance (in shares) at Dec. 31, 2009

26,883

92,165,913

^[1]

5,850,775

Balance at Dec. 31, 2009

$ 922

549,931

52,726

(57,048)

$ (191,140)

355,391

167,706

523,097

Comprehensive income (loss):

Other comprehensive income (loss) - net of tax:

174,979

19,444

194,423

(8,937)

(520)

(9,457)

1,093

1,163

Net unrealized gain

2,941

188

3,129

8,930

571

9,501

16,769

1,072

17,841

Comprehensive income (loss)

1,544

1,643

197,319

20,924

218,243

Business acquisitions:

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization) (in Shares)

^[1]

315,617

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

$ 3

46,220

46,223

1,653

47,876

Conversion of Series A preferred stock into Class A common stock (in shares)

(4,862)

572,988

^[1]

Conversion of Series A preferred stock into Class A common stock

$ 6

(6)

286,957

18,346

305,303

10,606

(10,656)

(50)

(3)

(53)

(50,581)

4,686,892

Delivery of Class A common stock in connection with share-based incentive compensation (in shares)

$ (149,981)

(149,981)

(6,690,159)

Delivery of Class A common stock in connection with share-based incentive compensation

(286,847)

$ 229,271

(57,576)

Repurchase of common membership interests from LAZ-MD Holdings

(6,812)

(436)

(7,248)

3,000,000

^[1]

3,000,000

Class A common stock issued in exchange for Lazard Group common membership interests (in shares)

$ 30

116,070

$ (116,100)

^[1]

23,643,419

Class A common stock issued in exchange for Lazard Group common membership interests

$ 236

(236)

Ending balance (in shares) at Dec. 31, 2010

(32,963)

42,958

(11,450)

31,508

(31,508)

22,021

119,697,937

^[1]

6,847,508

Balance at Dec. 31, 2010

$ 1,197

758,841

166,468

(46,158)

$ (227,950)

652,398

143,719

796,117

Comprehensive income (loss):

Other comprehensive income (loss) - net of tax:

174,917

15,642

190,559

(8,760)

(714)

(9,474)

1,000

1,054

(36,256)

(1,992)

(38,248)

Comprehensive income (loss)

2,091

115

2,206

132,992

13,105

146,097

Business acquisitions:

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

41,800

3,056

44,856

Conversion of Series A preferred stock into Class A common stock (in shares)

(14,100)

2,434,561

^[1]

Conversion of Series A preferred stock into Class A common stock

$ 24

(24)

Delivery of Class A common stock (including in connection with LAM Merger), shares

(3,515,362)

Delivery of Class A common stock (including in connection with LAM Merger)

(126,812)

$ 123,411

(3,401)

260,816

14,326

275,142

12,092

(12,167)

(75)

(4)

(79)

(70,572)

6,135,189

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits (in shares)

$ (204,835)

(204,835)

(5,975,318)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

(297,779)

$ 204,992

(92,787)

(92,778)

Repurchase of common membership interests from LAZ-MD Holdings

(753)

(41)

(794)

Class A common stock issued in exchange for Lazard Group common membership interests (in shares)

^[1]

876,814

Class A common stock issued in exchange for Lazard Group common membership interests

$ 9

(9)

(1,580)

Ending balance (in shares) at Dec. 31, 2011

(21,317)

12,421

(281)

12,140

(12,140)

7,921

123,009,312

^[1]

3,492,017

Balance at Dec. 31, 2011

$ 1,230

$ 659,013

$ 258,646

$ (88,364)

$ (104,382)

$ 726,143

$ 140,713

$ 866,856

[1]	Includes 92,165,912, 119,697,936 and 123,009,311 shares of the Company's Class A common stock issued at December 31, 2009, 2010 and 2011, respectively, and 1 share of the Company's Class B common stock at each such date.

Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Dec. 31, 2008

Common Stock [Member]

Class A Common Stock [Member]

^[1]

123,009,312

119,697,937

92,165,913

76,294,913

Share-based incentive compensation and related tax benefits

$ 972

Class A Common Stock [Member] | Common Stock [Member]

Class B Common Stock [Member] | Common Stock [Member]

123,009,311

119,697,936

92,165,912

Organization And Basis Of Presentation [Abstract]

[1]	Includes 92,165,912, 119,697,936 and 123,009,311 shares of the Company's Class A common stock issued at December 31, 2009, 2010 and 2011, respectively, and 1 share of the Company's Class B common stock at each such date.

Organization And Basis Of Presentation

12 Months Ended

Dec. 31, 2011

Organization And Basis Of Presentation

1.	*ORGANIZATION AND BASIS OF PRESENTATION*

Organization

Lazard Ltd, a Bermuda holding company, and its subsidiaries (collectively referred to as "Lazard Ltd", "Lazard", "we" or the "Company"), including Lazard Ltd's indirect investment in Lazard Group LLC, a Delaware limited liability company (collectively referred to, together with its subsidiaries, as "Lazard Group"), is one of the world's preeminent financial advisory and asset management firms and has long specialized in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, partnerships, institutions, governments and high net worth individuals.

Lazard Ltd indirectly held approximately 94.8% and 94.0% of all outstanding Lazard Group common membership interests as of December 31, 2011 and 2010, respectively. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group. LAZ-MD Holdings LLC ("LAZ-MD Holdings"), an entity owned by Lazard Group's current and former managing directors, held approximately 5.2% and 6.0% of the outstanding Lazard Group common membership interests as of December 31, 2011 and 2010, respectively. Additionally, LAZ-MD Holdings was the sole owner of the one issued and outstanding share of Lazard Ltd's Class B common stock (the "Class B common stock") which provided LAZ-MD Holdings with approximately 5.2% and 6.0% of the voting power but no economic rights in the Company as of December 31, 2011 and 2010, respectively. Subject to certain limitations, LAZ-MD Holdings' interests in Lazard Group are exchangeable for Lazard Ltd Class A common stock, par value $0.01 per share ("Class A common stock"). Lazard Group is governed by an Operating Agreement dated as of May 10, 2005, as amended (the "Operating Agreement").

Our sole operating asset is our indirect ownership of common membership interests of Lazard Group and our managing member interest of Lazard Group, whose principal operating activities are included in two business segments:

•

Financial Advisory, which offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a wide array of financial advisory services regarding mergers and acquisitions ("M&A") and other strategic matters, restructurings, capital structure, capital raising and various other financial matters, and

•

Asset Management, which includes strategies for the management of equity and fixed income securities and alternative investment and private equity funds, as well as wealth management.

In addition, we record selected other activities in our Corporate segment, including management of cash, certain investments and the commercial banking activities of Lazard Group's Paris-based Lazard Frères Banque SA ("LFB"). We also allocate outstanding indebtedness to our Corporate segment.

LFB is a registered bank regulated by the Autorité de Contrôle Prudentiel. It is engaged primarily in commercial and private banking services for clients and funds managed by Lazard Frères Gestion SAS ("LFG") and other clients, investment banking activities, including participation in underwritten offerings of securities in France, asset-liability management and limited trading in securities and foreign exchange.

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 (i) entities in which it has a controlling financial interest, (ii) variable interest entities ("VIEs") where the Company has a variable interest and is deemed to be the primary beneficiary and (iii) limited partnerships where the Company is the general partner, unless the presumption of control is overcome. When the Company does not have a controlling interest in an entity, but exerts significant influence over the entity's operating and financial decisions, the Company applies the equity method of accounting in which it records in earnings its share of earnings or losses of the entity. Intercompany transactions and balances have been eliminated.

The consolidated financial statements include Lazard Ltd, 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"); its French limited liability companies Compagnie Financière Lazard Frères SAS ("CFLF") along with its subsidiaries, LFB and LFG, and Maison Lazard SAS and its subsidiaries; and Lazard & Co., Limited ("LCL"), through Lazard & Co., Holdings Limited, an English private limited company ("LCH"), together with their jointly owned affiliates and subsidiaries.

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
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Significant Accounting Policies [Abstract]

Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies

2.	*SIGNIFICANT ACCOUNTING POLICIES*

The accounting policies below relate to reported amounts and disclosures in the consolidated financial statements.

Foreign Currency Translation—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. Net foreign currency remeasurement gains (losses) amounted to $1,406, $(1,606) and $5,700, respectively, for the years ended December 31, 2011, 2010 and 2009, and are included in "revenue-other" on the respective consolidated statements of operations.

Use of 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, securities sold, not yet purchased and assumptions used to value pension and other post-retirement plans;

•

the adequacy of the allowance for doubtful accounts;

•

the realization of deferred taxes and adequacy of tax reserves for uncertain tax positions;

•

the outcome of litigation;

•

the carrying amount of goodwill and other intangible assets;

•

the amortization period of intangible assets;

•

the valuation of shares issued or issuable that contain transfer restrictions;

•

share-based and other deferred compensation plan forfeitures, 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—Represents LFB's short-term deposits, principally with the Banque de France. The level of these deposits may be driven by the level of LFB customer and bank-related interest-bearing time and demand deposits (which can fluctuate significantly on a daily basis) and by changes in asset allocation.

Cash Deposited with Clearing Organizations and Other Segregated Cash—Primarily represents restricted cash deposits made by the Company, including those to satisfy the requirements of clearing organizations.

Allowance for Doubtful Accounts—We maintain an allowance for bad debts to provide for estimated losses relating to fees and customer receivables. We determine the adequacy of the allowance by estimating the probability of loss based on management's analysis of the client's creditworthiness and specifically reserve against exposures where we determine the receivables may be impaired, which may include situations where a fee is in dispute or litigation has commenced.

With respect to fees receivable from Financial Advisory activities, such receivables are generally deemed past due when they are outstanding 60 days from the date of invoice. However, some Financial Advisory transactions include specific contractual payment terms that may vary from one month to four years (as is the case for our Private Fund Advisory fees) following the invoice date or may be subject to court approval (as is the case with bankruptcy-related restructuring assignments). 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 fee receivables past due in excess of 180 days are fully provided for unless there is evidence that the balance is collectable. Asset Management fees are deemed past due and fully provided for when such receivables are outstanding 12 months after the invoice date. Notwithstanding our policy for receivables past due, we specifically reserve against exposures relating to Financial Advisory and Asset Management fees where we determine receivables are impaired.

See Note 4 of Notes to Consolidated Financial Statements for additional information regarding receivables.

Investments—Investments in debt and marketable equity securities held either directly or indirectly through asset management funds at the Company's broker-dealer subsidiaries are accounted for at fair value, with any increase or decrease in fair value recorded in earnings in accordance with standard industry practices. Such amounts are reflected in "revenue-other" in the consolidated statements of operations.

Investments in debt and marketable equity securities held at the Company's non broker-dealer subsidiaries may include "trading", "available-for-sale" and "held-to-maturity" securities. Investments in debt and marketable equity securities considered "trading" securities are accounted for at fair value, with any increase or decrease in fair value reflected in "revenue-other" in the consolidated statements of operations. Investments in debt securities considered "available-for-sale" securities are accounted for at fair value, with any increase or decrease in fair value reported in AOCI, until such time they are realized and reclassified to earnings. Investments in debt securities considered "held-to-maturity" securities are accounted for at amortized cost. Declines in the fair value of "available-for-sale" and "held-to-maturity" securities that are determined to be other-than-temporary are charged to earnings, which, for periods beginning after April 1, 2009, may only include the credit loss component of such declines. At December 31, 2010 and subsequent thereto, the Company had no "available-for-sale" or "held-to-maturity" debt or marketable equity securities.

Other investments include general partnership and limited partnership interests in alternative asset management funds, fixed income funds and private equity investments accounted for at fair value, as well as investments accounted for under the equity method of accounting. Any increases or decreases in the carrying value of those 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.

Dividend income is reflected in "revenue-other" on the consolidated statements of operations. Interest income includes accretion or amortization of any discount or premium arising at acquisition of the related debt security. Securities transactions and the related revenue and expenses are recorded on a "trade date" basis.

See Notes 5 and 6 of Notes to Consolidated Financial Statements for additional information regarding the Company's investments.

Property-net—Property is stated at cost or, in the case of buildings under capital leases, the present value of the future minimum lease payments, less accumulated depreciation and amortization. Buildings represent owned property and amounts recorded pursuant to capital leases (see Notes 10 and 14 of Notes to Consolidated Financial Statements), with the related obligations recorded as capital lease obligations. Such 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 expense aggregating $24,580, $22,712 and $22,541 for the years ended December 31, 2011, 2010 and 2009, respectively, is included on the respective 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.

Goodwill and Other Intangible Assets—As goodwill has an indefinite life, it is required to be tested for impairment annually or more frequently if circumstances indicate impairment may have occurred. For years prior to 2011, the Company assessed whether any goodwill recorded by its applicable reporting units was impaired by comparing the fair value of each reporting unit with its respective carrying amount. In this process, Lazard used its best judgment and information available to it at the time to perform this review and utilized various valuation techniques in order to determine the applicable fair values. Commencing in 2011, as permitted under an amendment issued by the Financial Accounting Standards Board (the "FASB"), the Company elected to perform a qualitative evaluation 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.

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. This 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 of Notes to Consolidated Financial Statements with respect to goodwill and other intangible assets.

Derivative Instruments—A derivative is typically defined as an instrument whose value is "derived" from underlying assets, indices or reference rates, such as a future, forward, swap, 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, equity and fixed income swaps and other derivative contracts to hedge exposures to fluctuations in currency exchange rates, interest rates and equity and debt markets. The Company reports its derivative instruments separately as assets and liabilities unless a legal right of set-off exists under a master netting agreement enforceable by law. The Company's derivative instruments are recorded at their fair value, and are included in "other assets" and "other liabilities" on the consolidated statements of financial condition. Except for derivative instruments hedging its then "available-for-sale" securities held prior to 2011 (see Note 5 of Notes to Consolidated Financial Statements), the Company elected not to apply hedge accounting to its other derivative instruments. Gains and losses on the Company's derivative contracts not designated as hedging instruments, as well as gains and losses on derivative instruments accounted for as fair value hedges, are included in "interest income" and "interest expense", respectively, or "revenue-other", depending on the nature of the underlying item, on the consolidated statements of operations. Furthermore, with respect to derivative instruments designated as fair value hedges, the hedged item is required to be adjusted for changes in fair value of the risk being hedged, with such adjustment accounted for in the consolidated statements of operations.

In addition to the derivative instruments above, the Company recognized a derivative liability relating to its obligation pertaining to Lazard Fund Interests awards ("Lazard Fund Interests") and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments and is included in "accrued compensation and benefits" on the consolidated statement of financial condition as of December 31, 2011. Changes in the fair value of the derivative liability are included in "compensation and benefits" on the consolidated statement of operations for the year ended December 31, 2011, the impact of which equally offsets the changes in the fair value of the underlying investments owned and is reported in "revenue-other" in the consolidated statement of operations. For information regarding Lazard Fund Interests and other similar deferred compensation arrangements, see Notes 7 and 16 of Notes to Consolidated Financial statments.

Deposits and Other Customer Payables—Principally relates to LFB customer-related demand and time deposits, both interest-bearing and non-interest bearing, short-term inter-bank borrowings and amounts due on short-term collateralized borrowing activities. Collateralized borrowing activities amounted to $8,928 and $7,483 at December 31, 2011 and 2010, respectively, and were fully collateralized with pledged assets of equal or greater value at each such date.

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, cash deposited with clearing organizations and other segregated cash, receivables, investments (excluding investments accounted for at amortized cost, interest-bearing deposits or using the equity method of accounting), derivative instruments and deposits and other customer payables. For information regarding the fair value of the Company's senior and subordinated debt, see Note 13 of Notes to Consolidated Financial Statements.

Revenue Recognition

Investment Banking and Other Advisory Fees—Fees for M&A and Strategic Advisory services and Restructuring advisory services are recorded when earned, which is generally the date the related transactions are consummated. Expenses that are directly related to such transactions and billable to clients are deferred to match revenue recognition. "Investment banking and other advisory fees" on the Company's consolidated statements of operations are presented net of client reimbursements of expenses. The amount of expenses reimbursed by clients for the years ended December 31, 2011, 2010 and 2009 are $18,942, $20,216 and $21,673, respectively.

Money Management and Incentive Fees—Money management fees are derived from fees for investment management and advisory services provided to institutional and private clients. Revenue is recorded on an accrual 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 funds) and private equity products, and lower fees earned on fixed income and money market products.

The Company may earn performance-based incentive fees on various investment products, including alternative investment funds such as hedge funds, private equity funds and traditional investment strategies. Incentive fees are calculated based on a specified percentage of a fund's net appreciation, in some cases in excess of established benchmarks. Incentive fees on private equity funds also may be earned in the form of a carried interest if profits from investments exceed a specified threshold. These incentive fees are recorded when realized and are paid at the end of the measurement period. Incentive fees on hedge funds generally are subject to loss carry-forward provisions in which losses incurred by the funds in any year are applied against certain future period net appreciation before any incentive fees can be earned.

The Company records incentive fees at the end of the relevant performance measurement period, when potential uncertainties regarding the ultimate realizable amounts have been determined. The performance fee measurement period is generally an annual period, unless an account terminates during the year. These incentive fees received at the end of the measurement period are not subject to reversal or payback.

Receivables relating to money management and incentive fees are reported in "fees receivable" on the consolidated statements of financial condition.

Soft Dollar Arrangements— The Company's Asset Management business obtains research and other services through "soft dollar" arrangements. Consistent with the "soft dollar" safe harbor established by Section 28(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Asset Management business does not have any contractual obligation or arrangement requiring it to pay for research and other services obtained through soft dollar arrangements with brokers. Instead, the provider is obligated to pay for the services. Consequently, the Company does not incur any liability and does not accrue any expenses in connection with any research or other services obtained by the Asset Management business pursuant to such soft dollar arrangements. If the use of soft dollars is limited or prohibited in the future by regulation, we may have to bear the costs of such research and other services.

Share-Based Incentive Compensation Awards—Share-based incentive compensation awards that do not require future service are expensed immediately; however, awards that require future service are amortized over the applicable vesting period or requisite service period. Expense relating to share-based incentive compensation awards is generally based on the fair value of the Company's Class A common stock on the date of grant, and is recognized in "compensation and benefits" (and, as applicable, in "restructuring" expense, with respect to the expense associated with the acceleration of unrecognized expense pertaining to awards granted previously to individuals who were terminated by the Company in the restructuring programs described in Note 18 of Notes to Consolidated Financial Statements).

Income Taxes—Lazard Ltd, through certain of its subsidiaries, is subject to U.S. corporate federal income tax on its allocable share of the results of operations of Lazard Group, and certain non-U.S. subsidiaries of the Company are subject to income taxes in their local jurisdictions. In addition, the Company is subject to New York City Unincorporated Business Taxes ("UBT") attributable to Lazard Group's operations apportioned to New York City.

Substantially all of Lazard's operations outside the U.S. are conducted in "pass-through" entities for U.S. income tax purposes and the Company provides for U.S. income taxes on a current basis for substantially all of those earnings. The repatriation of prior year earnings attributable to "non-pass-through" entities would not result in the recognition of a material amount of additional U.S. 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 liabilities and are included in "other assets" and "other liabilities", respectively, on the consolidated statements of financial condition.

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 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 positive and negative evidence, including, but not limited to, the following:

•

nature, frequency, and severity of any recent losses;

•

duration of statutory carryforward periods;

•

historical experience with tax attributes expiring unused; and

•

near- and medium-term financial outlook.

Furthermore, management applies the "more likely than not" criteria prior to the recognition of a financial statement benefit of a tax position taken or expected to be taken in a tax return with respect to uncertainty in income taxes.

The Company recognizes interest and/or penalties related to income tax matters in "income tax expense". See Note 19 of Notes to Consolidated Financial Statements for additional information relating to income taxes.

Recent Accounting Developments

12 Months Ended

Dec. 31, 2011

Recent Accounting Developments [Abstract]

Recent Accounting Developments

3.	*RECENT ACCOUNTING DEVELOPMENTS*

Fair Value Measurements—During May 2011, the FASB amended its fair value measurement guidance, which it states was designed to achieve common fair value measurement and disclosure requirements between U.S. GAAP and International Financial Reporting Standards ("IFRS"). Although many of the changes for U.S. GAAP purposes are clarifications of existing guidance or wording changes to align with IFRS, additional disclosures about fair value measurements would be required, including (i) a quantitative disclosure of the unobservable inputs and assumptions used in the measurement, (ii) the valuation processes used and the sensitivity of fair value measurements related to investments categorized within Level 3 of the hierarchy of fair value measurements to changes in unobservable inputs and the interrelationships between those unobservable inputs, if any, and (iii) the categorization by level of the fair value hierarchy for items that are not measured at fair value in the statement of financial condition but for which the fair value is required to be disclosed. The amended fair value measurement guidance will become effective for interim and annual periods beginning after December 15, 2011 and is to be applied prospectively. Early application is not permitted. The Company does not anticipate that the adoption of the amended fair value measurement guidance will have a material impact on the Company's consolidated financial statements.

Other Comprehensive Income—During June 2011, the FASB amended its guidance regarding the presentation of comprehensive income, which it states was designed to improve comparability, consistency and transparency. The amendment requires that all changes in comprehensive income be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In the one-statement approach, the Company would present total net income, including its components, followed by other comprehensive income, including its components, and a total of comprehensive income. In the two-statement approach, the first statement would present total net income and its components as currently presented by the Company in its consolidated statement of operations, followed consecutively by a second statement that would present the components of other comprehensive income, total other comprehensive income and the total of comprehensive income. The amendment is to be applied retrospectively and is effective with interim and annual periods beginning after December 15, 2011, with early adoption permitted. The Company will adopt the amendment in the first quarter of 2012.

Goodwill—During September 2011, the FASB amended its guidance regarding goodwill impairment testing by allowing an entity the option to make a qualitative evaluation 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 a reporting unit. The amendment became effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption was permitted. The Company adopted the amendment during the year ended December 31, 2011. The adoption of the amended guidance did not have a material impact on the Company's consolidated financial statements.

Offsetting of Assets and Liabilities—During December 2011, the FASB issued new disclosure requirements regarding the nature of an entity's rights of setoff and related arrangements associated with its derivative and other financial instruments. The disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods therein, with retrospective application required. The new disclosures are designed to make financial statements that are prepared under U.S. GAAP more comparable to those prepared under IFRS. The Company does not anticipate that the adoption of the new disclosure requirements will have a material impact on the Company's consolidated financial statements.

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 154
-Paragraph 2, 17, 18
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 28
-Paragraph 23, 24
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=6958853&loc=d3e46468-122699

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

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-Publisher FASB
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Receivables - Net

12 Months Ended

Dec. 31, 2011

Receivables - Net [Abstract]

Receivables - Net

4.	*RECEIVABLES - NET*

The Company's "receivables - net" represents receivables from fees, customers and other and related parties.

In connection with collateralized lending activities of LFB, the Company typically receives a pledge of specifically identified securities of equal or greater value than the amount of the cash loaned. Collateralized customer loan receivables, which amounted to $5,952 and $4,009 at December 31, 2011 and 2010, respectively, were collateralized by securities of equal or greater value at each such date.

Receivables are stated net of an estimated allowance for doubtful accounts of $19,450 and $15,017 at December 31, 2011 and 2010, respectively, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. The Company recorded bad debt expense of $7,952, $8,392 and $4,509 for the years ended December 31, 2011, 2010 and 2009, respectively. In addition, the Company recorded charge-offs, foreign currency translation and other adjustments, which resulted in a net decrease to the allowance for doubtful accounts of $3,519, $4,950 and $8,817 for the years ended December 31, 2011, 2010 and 2009, respectively. At December 31, 2011 and 2010, the Company had receivables deemed past due or uncollectible of $22,785 and $17,101, respectively.

Investments

12 Months Ended

Dec. 31, 2011

Investments [Abstract]

Investments

5.	*INVESTMENTS*

The Company's investments and securities sold, not yet purchased, consist of the following at December 31, 2011 and 2010:


	December 31,
	2011		2010
Debt:
U.S. Government and agencies	$	1,260	$	31,900
Non-U.S. Government and other debt and interest-bearing deposits		35,706		29,693

		36,966		61,593

Equities (a)		156,053		88,437

Other:
Interests in alternative asset management funds (a)		20,610		58,656
Fixed income funds (a)		31,121		33,951
Private equity		122,718		163,482
Equity method investments		11,053		11,291

		185,502		267,380

Total investments		378,521		417,410
Less:
Interest-bearing deposits		2,834		7,754
Equity method investments		11,053		11,291

Investments, at fair value	$	364,634	$	398,365

Securities sold, not yet purchased, at fair value (included in "other liabilities")	$	4,282	$	2,897

(a)

At December 31, 2011, equities, interests in alternative asset management funds and fixed income funds include investments with fair values of $19,857, $2,256 and $5,212, respectively, held in order to satisfy the Company's liability upon vesting of previously granted Lazard Fund Interests and other similar deferred compensation arrangements. Lazard Fund Interests represent grants by the Company to eligible employees of actual or notional interests in several Lazard managed funds (see Note 7 and 16 of Notes to Consolidated Financial Statements).

During the year ended December 31, 2010, the Company sold "available-for-sale" debt securities for $214,540, which equaled its then carrying value, and sold "held-to-maturity" U.S. government and agency debt securities for $132,209, which had a carrying value of $126,573. Accordingly, there are no "available-for-sale" or "held-to-maturity" securities at December 31, 2010 and subsequent thereto.

During the year ended December 31, 2009, an other-than-temporary impairment charge of $1,825 pertaining to "available-for-sale" debt securities was recognized in "other-revenue" on the consolidated statement of operations, representing the credit loss component of debt securities whose fair value was below amortized cost. There were no other-than-temporary impairment charges recognized during the year ended December 31, 2010.

The Company's debt securities included in the table above are categorized as "trading" securities. Non-U.S. Government and other debt includes U.S. state and municipal debt securities, as well as amounts seeding products of our Asset Management business.

Equities primarily represent the Company's investments in marketable equity securities of large-, mid- and small-cap domestic, international and global companies seeding new Asset Management products and includes investments in public and private asset management funds managed both by LAM and third-party asset managers.

Interests in alternative asset management funds represent (i) general partner ("GP") interests owned by Lazard in various Lazard-managed alternative asset management funds and (ii) GP interests consolidated by the Company pertaining to noncontrolling interests in such alternative asset management funds, the latter of which aggregated $777 and $8,219 at December 31, 2011 and 2010, respectively. Such noncontrolling interests, which represent GP interests held directly by certain of our Asset Management managing directors or employees of the Company, are deemed to be controlled by, and therefore consolidated by, the Company in accordance with U.S. GAAP. Noncontrolling interests are presented within "stockholders' equity" on the consolidated statements of financial condition (see Note 15 of Notes to Consolidated Financial Statements).

Fixed income funds primarily consist of amounts seeding products of our Asset Management business.

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 and direct private equity interests. Such investments primarily include (i) a mezzanine fund, which invests in mezzanine debt of a diversified selection of small- to mid-cap European companies, (ii) Corporate Partners II Limited ("CP II"), a private equity fund targeting significant noncontrolling-stake investments in established public and private companies, (iii) Lazard Senior Housing Partners LP ("Senior Housing"), which targets controlling interests in companies and assets in the senior housing, extended-stay hotel and shopping center sectors and (iv) Edgewater Growth Capital Partners III, L.P. ("EGCP III"), a private equity fund primarily making equity and buyout investments in lower middle market companies.

Private equity investments consolidated but not owned by Lazard relate to the economic interests that are owned by the leadership team and other investors in the Edgewater Funds ("Edgewater") which aggregated $18,502 and $67,206 at December 31, 2011 and 2010, respectively (see Note 9 of Notes to Consolidated Financial Statements).

On January 24, 2008, Sapphire Industrials Corp. ("Sapphire"), a then newly-organized special purpose acquisition company formed by the Company, completed an initial public offering (the "Sapphire IPO"). Sapphire had been included in equity method investments prior to its dissolution discussed below. Sapphire was formed for the purpose of effecting a business combination within a 24-month period (the "Business Combination") and net proceeds from the Sapphire IPO were placed in a trust account by Sapphire (the "Trust Account") pending consummation of the Business Combination. In connection with the Sapphire IPO, the Company purchased warrants from Sapphire for a total purchase price of $12,500 and Sapphire common stock for an aggregate purchase price of $50,000. The Company's investment in Sapphire had been accounted for using the equity method of accounting. On January 6, 2010, Sapphire announced it had not completed the Business Combination and it would dissolve and distribute the funds in the Trust Account to all of its public shareholders, to the extent they were holders of shares issued in the Sapphire IPO. Pursuant to such dissolution, on January 26, 2010, Sapphire made an initial distribution to the Company aggregating $50,319. All Sapphire warrants expired without value. During the fourth quarter of 2009, the Company recognized a loss of approximately $13,000 principally related to its investment in warrants of Sapphire, with such loss being recorded in "revenue-other" in the accompanying consolidated statement of operations.

The Company recognized gross investment gains and losses for the years ended December 31, 2011, 2010 and 2009, including a gain of $5,636 from the sale of "held-to-maturity" securities during the fourth quarter of 2010, in "revenue-other" on its consolidated statements of operations as follows:


	Year Ended December 31,
	2011		2010		2009
Gross investment gains	$	14,632	$	45,503	$	53,319
Gross investment losses	$	22,376	$	19,703	$	19,740

The table above includes gross unrealized investment gains and losses pertaining to "trading" securities as follows:



	Year Ended December 31,
	2011		2010		2009
Gross unrealized investment gains	$	683	$	78	$	3,723
Gross unrealized investment losses	$	1,135	$	512	$	–

Within AOCI, the Company recorded a reduction in net unrealized losses of $17,923 and $46,273 during the years ended December 31, 2010 and 2009, respectively, pertaining to "available-for-sale" debt securities. The reduction in net unrealized losses during the year ended December 31, 2010 includes the reclassification to earnings of realized gains of $1,755 and realized losses of $16,245 from the sale of the "available-for-sale" portfolio. With respect to adjustments for items reclassified to earnings, the average cost basis is utilized for purposes of calculating realized investment gains and losses.

Fair Value Measurements

12 Months Ended

Dec. 31, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

6.	*FAIR VALUE MEASUREMENTS*

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 quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in non-active markets or assets valued based on net assets value ("NAV", or its equivalent) redeemable at the measurement date or within the near term without redemption restrictions, or 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 management's 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 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 as well as assets valued based on NAV not redeemable within the near term.

The Company's investments in U.S. Government and agency debt securities as well as in non-U.S. Government and other debt securities are considered Level 1 assets when their respective fair values are based on unadjusted quoted prices in active markets and are considered Level 2 assets when their fair values are primarily based on broker quotes as provided by external pricing services.

The fair value of equities is principally classified as Level 1, Level 2 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; public asset management funds are classified as Level 1 and are valued based on the reported closing price for the fund; investments in private asset management funds are classified as Level 2 and are primarily valued based on information provided by fund managers and, secondarily, from external pricing services to the extent managed by LAM; and Level 3 represents equities valued based on NAV and are not redeemable within the near term.

The fair value of interests in alternative asset management funds is classified as either Level 2 or Level 3 depending on the time frame of any applicable redemption restriction, and is based on information provided by external pricing services.

The Company's investments in fixed income funds are considered Level 1 assets when the fair values are based on the reported closing price for the fund or Level 2 assets when their fair values are primarily based on broker quotes as provided by external pricing services.

The fair value of private equity investments is classified as Level 3, and is primarily based on NAV and are not redeemable within the near term.

The fair values of derivatives entered into by the Company are classified as Level 2 and are 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 currency from the trade date to settlement date; the fair value of equity and fixed income swaps is based on the change in fair values of the related underlying equity security, financial instrument or index and a specified notional holding; and the fair values of interest rate swaps are based on the interest rate yield curve.

Where information reported is based on broker quotes, the Company generally obtains one quote/price per instrument. In some cases, quotes related to corporate bonds obtained through external pricing services represent the average of several broker quotes. Where information reported is based on data received from fund managers or from external pricing services, the Company reviews such information to ascertain at which level within the fair value hierarchy to classify the investment.

The following tables present the categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis as of December 31, 2011 and 2010 into the three-level fair value hierarchy in accordance with fair value measurement disclosure requirements:


	As of December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt:
U.S. Government and agencies	$	1,260	$	–	$	–	$	1,260
Non-U.S. Government and other debt (excluding interest-bearing deposits)		15,851		17,021		–		32,872
Equities		115,380		37,332		3,341		156,053
Other (excluding equity method investments):
Interest in alternative asset management funds		–		13,569		7,041		20,610
Fixed income funds		27,539		3,582		–		31,121
Private equity		–		–		122,718		122,718
Derivatives		–		7,131		–		7,131

Total Assets	$	160,030	$	78,635	$	133,100	$	371,765

Liabilities:
Securities sold, not yet purchased	$	4,282	$	–	$	–	$	4,282
Derivatives		–		30,713		–		30,713

Total Liabilities	$	4,282	$	30,713	$	–	$	34,995


	December 31, 2010
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt:
U.S. Government and agencies	$	31,900	$	–	$	–	$	31,900
Non-U.S. Government and other debt (excluding interest-bearing deposits)		21,939		–		–		21,939
Equities		66,269		21,852		316		88,437
Other (excluding equity method investments):
Interest in alternative asset management funds		–		58,656		–		58,656
Fixed income funds		–		33,951		–		33,951
Private equity		–		–		163,482		163,482
Derivatives		–		1,874		–		1,874

Total Assets	$	120,108	$	116,333	$	163,798	$	400,239

Liabilities:
Securities sold, not yet purchased	$	2,897	$	–	$	–	$	2,897
Derivatives		–		3,230		–		3,230

Total Liabilities	$	2,897	$	3,230	$	–	$	6,127

There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the years ended December 31, 2011 and 2010.

The following tables provide a summary of changes in fair value of the Company's Level 3 assets for the years ended December 31, 2011, 2010 and 2009:


	Year Ended December 31, 2011
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	316	$	72		$	3,155	$	(195	)	$	(7	)	$	3,341
Interest in alternative asset management funds		–		(169	)		7,210		–			–			7,041
Private equity		163,482		(3,319	)		33,117		(69,218	)		(1,344	)		122,718

Total Level 3 Assets	$	163,798	$	(3,416	)	$	43,482	$	(69,413	)	$	(1,351	)	$	133,100


	Year Ended December 31, 2010
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue-Other		Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	305	$	6	$	14	$	–		$	(9	)	$	316
Private equity		135,914		8,646		34,288		(11,985	)		(3,381	)		163,482

Total Level 3 Assets	$	136,219	$	8,652	$	34,302	$	(11,985	)	$	(3,390	)	$	163,798


	Year Ended December 31, 2009
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue-Other			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
Investments:
Equities	$	2,453	$	(97	)	$	42	$	(2,093	)	$	–	$	305
Private equity		83,931		6,593			46,938		(3,087	)		1,539		135,914

Total Level 3 Assets	$	86,384	$	6,496		$	46,980	$	(5,180	)	$	1,539	$	136,219

Sales/dispositions of private equity investments for the year ended December 31, 2011 include $49,500 in connection with a reduction of interests in a fund of Edgewater as such fund is no longer consolidated by Lazard.

With respect to net unrealized/realized gains (losses) relating to Level 3 assets, the amount included in earnings for the years ended December 31, 2011, 2010 and 2009 pertaining to investments outstanding at the end of each respective year was $(3,268), $8,299 and $7,178, respectively.

Fair Value of Certain Investments Based on NAV—The Company's Level 2 and Level 3 investments at December 31, 2011 include certain investments that are valued using an NAV as a practical expedient in determining fair value. Information with respect thereto was as follows:


								Estimated Liquidation Period of Investments Not Redeemable									Investments Redeemable
	Fair Value		Unfunded Commitments		% of Fair Value Not Redeemable			% Next 5 Years			% 5-10 Years			% Thereafter			Redemption Frequency	Redemption Notice Period
Equity funds	$	40,512	$	–		2	%		1	%		0	%		1	%	Quarterly	60 Days
Interests in alternative asset management funds		20,600		–		0	%		0	%		0	%		0	%	Quarterly	>90 Days
Fixed income funds		3,582		–		0	%		0	%		0	%		0	%	Monthly	60 Days
Private equity funds		121,276		52,197		100	%		33	%		28	%		39	%	NA

Total	$	185,970	$	52,197

Investment Capital Funding Commitments—At December 31, 2011, the maximum unfunded commitments by the Company for capital contributions to investment funds related to (i) CP II, amounting to $2,492 for potential "follow-on investments" and/or for CP II expenses through the earlier of February 25, 2017 or the liquidation of the fund, (ii) EGCP III, amounting to $41,753, through the earlier of October 12, 2016 (i.e., the end of the investment period) for investments and/or expenses (with a portion of the undrawn amount of such commitment as of that date remaining committed until October 12, 2023 in respect of "follow-on investments" and/or EGCP III expenses) or the liquidation of the fund and (iii) a Lazard-managed Australian private equity fund, amounting to $7,952, through the earlier of November 11, 2016 (i.e., the end of the investment period) for investments and/or expenses (with a portion of the undrawn amount of such commitment as of that date remaining committed until November 11, 2019 in respect of "follow-on investments" and/or fund expenses) or the liquidation of the fund.

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
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Derivatives

12 Months Ended

Dec. 31, 2011

Derivatives [Abstract]

Derivatives

7.	*DERIVATIVES*

The table below represents the fair values of the Company's derivative instruments reported within "other assets" and "other liabilities" and the fair value of the Company's derivative liability relating to its obligation pertaining to Lazard Fund Interests and other similar deferred compensation arrangements reported within "accrued compensation and benefits" (see Note 16 of Notes to Consolidated Financial Statements) on the accompanying consolidated statements of financial condition as of December 31, 2011 and 2010:


	December 31,
	2011		2010
Derivative Assets:
Forward foreign currency exchange rate contracts	$	4,245	$	1,432
Interest rate swaps		1		57
Equity and fixed income swaps and other		2,885		385

	$	7,131	$	1,874

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	445	$	2,151
Interest rate swaps		277		326
Equity and fixed income swaps		91		753
Lazard Fund Interests and other similar deferred compensation arrangements		29,900		–

	$	30,713	$	3,230

Net gains (losses) with respect to derivative instruments not designated as hedging instruments (predominantly reflected in "revenue-other") and the Company's derivative liability relating to its obligation pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (reported in "compensation and benefits" expense, which equally offsets corresponding amounts reported in "revenue-other" as described above) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2011, 2010 and 2009, by type of derivative, were as follows:


	Year Ended December 31,
	2011			2010			2009
Forward foreign currency exchange rate contracts	$	2,422		$	2,291		$	3,311
Interest rate swaps		(13	)		(294	)		625
Equity and fixed income swaps and other		4,289			(6,415	)		(13,810	)
Lazard Fund Interests and other similar deferred compensation arrangements		(3,024	)		–			–

	$	3,674		$	(4,418	)	$	(9,874	)

Derivatives designated as hedging instruments related to interest rate swaps that hedged "available-for-sale" securities and had been accounted for as fair value hedges. For the years ended December 31, 2010 and 2009, the Company recognized pre-tax losses pertaining to interest rate swaps of $2,844 and $1,263, respectively. These losses were substantially offset by gains recognized on the hedged risk portion of such "available-for-sale" securities.

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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LAM Merger Transaction

12 Months Ended

Dec. 31, 2011

LAM Merger Transaction [Abstract]

LAM Merger Transaction

8.	*LAM MERGER TRANSACTION*

On September 25, 2008, the Company, LAM and LAZ Sub I, LLC, a then newly-formed subsidiary of LFNY, completed the merger of LAZ Sub I, LLC with and into LAM (the "LAM Merger"). Prior to the LAM Merger, the common equity interests of LAM were held by LFNY, and certain other equity interests of LAM, representing contingent payments should certain specified fundamental transactions occur, were held by present and former employees of LAM. Following the LAM Merger, all equity interests of LAM are owned directly or indirectly by LFNY.

The aggregate non-contingent consideration relating to the equity interests of LAM held by present and former employees of LAM and its subsidiaries (the "Transaction Consideration") consisted of (i) cash payments made from the closing of the LAM Merger through January 2, 2009 of approximately $60,000, (ii) a cash payment made on October 31, 2011 of approximately $90,000, (iii) the delivery on October 31, 2011 of 2,210,520 shares of Class A common stock and (iv) the satisfaction of certain employees' tax obligations in lieu of delivering 68,384 shares of Class A common stock on October 31, 2011. In addition, with respect to certain former employees of LAM and its subsidiaries, as of December 31, 2011, additional cash payments of $961 and additional issuances of 24,537 shares of Class A common stock are subject to delayed payment/issuance until the eighth anniversary of the closing of the LAM Merger because the applicable employees were no longer employed by Lazard or its affiliates on October 31, 2011, subject to certain exceptions. The related liabilities for the present value of the unpaid cash consideration as of December 31, 2010 were recorded in the accompanying consolidated statement of financial condition in "accrued compensation and benefits" and "other liabilities", and amounted to $15,152 and $71,394, respectively.

Business Acquisitions

12 Months Ended

Dec. 31, 2011

Business Acquisitions

9.	*BUSINESS ACQUISITIONS*

On July 15, 2009, the Company established a private equity business with Edgewater. Edgewater manages funds primarily focused on buy-out and growth equity investments in middle market companies. The acquisition was structured as a purchase by Lazard Group of interests in a holding company that in turn owns interests in the general partner and management company entities of the current Edgewater private equity funds (the "Edgewater Acquisition"). Following the Edgewater Acquisition, Edgewater's leadership team retained a substantial economic interest in such entities.

The aggregate fair value of the consideration recognized by the Company at the acquisition date was $61,624. Such consideration consisted of (i) a one-time cash payment, (ii) 1,142,857 shares of Class A common stock (the "Initial Shares") and (iii) up to 1,142,857 additional shares of Class A common stock subject to earnout criteria and payable over time (the "Earnout Shares"). The Initial Shares are subject to forfeiture provisions that lapse only upon the achievement of certain performance thresholds and transfer restrictions during the four year period ending December 2014. The Earnout Shares will be issued only if certain performance thresholds are met. On December 30, 2011, 285,715 Initial Shares and 57,287 Earnout Shares became unrestricted or were otherwise delivered.

The Edgewater Acquisition was accounted for under the acquisition method of accounting, whereby the results of the acquired business are included in our consolidated financial results from July 15, 2009, the effective date of the acquisition. As a result of the acquisition, we recorded net tangible assets, identifiable intangible assets and goodwill of $53,635 (consisting primarily of Edgewater's investments in the underlying funds and cash), $56,200 and $61,630, respectively, which include amounts for Edgewater's noncontrolling interests held (whose economic interests approximate 50%) aggregating $109,841. Goodwill pertaining to this acquisition is deductible for income tax purposes. See Note 11 of Notes to Consolidated Financial Statements for additional information relating to goodwill and other intangible assets. The operating results relating to Edgewater are included in the Company's Asset Management segment.

In prior years, the Company made certain other business acquisitions. These purchases were affected through an exchange of a combination of cash, Class A common stock, and by Lazard Ltd issuing shares of non-participating convertible Series A and Series B preferred stock, which are or were each convertible into Class A common stock. In connection with such acquisitions, as of December 31, 2011 and 2010, 47,474 and 1,295,029 shares of Class A common stock, respectively, were issuable on a non-contingent basis. Additionally, at December 31, 2010, 4,862 shares of Series A preferred stock were convertible into shares of Class A common stock on a non-contingent basis. During the year ended December 31, 2011, an additional 9,238 shares of Series A preferred stock became convertible, with the total of 14,100 shares of Series A preferred stock converting into 2,434,561 shares of Class A common stock during the year. Depending upon the future performance of such businesses acquired, at December 31, 2011 and 2010, 7,921 and 17,159 shares of Series A preferred stock were contingently convertible into shares of Class A common stock. See Note 15 of Notes to Consolidated Financial Statements for additional information relating to preferred stock.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Appendix F
-Paragraph F4
-Subparagraph e

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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Property-Net

12 Months Ended

Dec. 31, 2011

Property-Net [Abstract]

Property-Net

10.

PROPERTY-NET

At December 31, 2011 and 2010 property-net consists of the following:


	Estimated Depreciable Life in Years		December 31,
	Estimated Depreciable Life in Years		2011		2010
Buildings		33	$	164,168	$	168,711
Leasehold improvements		5-20		159,191		156,250
Furniture and equipment		3-10		85,396		74,881
Construction in progress				26,347		1,580

Total				435,102		401,422
Less - Accumulated depreciation and amortization				266,673		250,898

Property-net			$	168,429	$	150,524

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

Goodwill And Other Intangible Assets [Abstract]

Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Other Intangible Assets

11.

GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at December 31, 2011 and 2010 are presented below:


	December 31,
	2011		2010
Goodwill	$	356,657	$	313,229
Other intangible assets (net of accumulated amortization)		36,442		48,210

	$	393,099	$	361,439

At December 31, 2011 and 2010, goodwill of $292,116 and $251,599, respectively, was attributable to the Company's Financial Advisory segment and, at such respective dates, $64,541 and $61,630 of goodwill was attributable to the Company's Asset Management segment.

Changes in the carrying amount of goodwill for the years ended December 31, 2011, 2010 and 2009 are as follows:


	Year Ended December 31,
	2011		2010		2009
Balance, January 1	$	313,229	$	261,703	$	170,277
Business acquisitions, including additional contingent consideration earned relating thereto		42,566		41,174		70,965
Foreign currency translation adjustments		862		10,352		20,461

Balance, December 31	$	356,657	$	313,229	$	261,703

The Company performs a goodwill impairment test annually or more frequently if circumstances indicate that impairment may have occurred. The Company has selected December 31 as the date to perform its annual impairment test. Pursuant to the Company's goodwill impairment review for the years ended December 31, 2011, 2010 and 2009, the Company determined that no impairment existed.

The gross cost and accumulated amortization of other intangible assets as of December 31, 2011 and 2010, by major intangible asset category, are as follows:


	December 31, 2011						December 31, 2010
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	7,122	$	23,618	$	30,740	$	890	$	29,850
Management fees, customer relationships and non-compete agreements		32,624		19,800		12,824		32,477		14,117		18,360

	$	63,364	$	26,922	$	36,442	$	63,217	$	15,007	$	48,210

Amortization expense of intangible assets for the years ended December 31, 2011, 2010 and 2009 was $11,915, $7,867 and $4,990, respectively. Estimated future amortization expense is as follows:


Year Ending December 31,	Amortization Expense (a)
2012	$	5,397
2013		10,337
2014		8,332
2015		6,735
2016		5,641

Total amortization expense	$	36,442

(a)

Approximately 46% of intangible asset amortization is attributable to a noncontrolling interest.

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Other Assets And Other Liabilities [Abstract]

Other Assets And Other Liabilities

12 Months Ended

Dec. 31, 2011

Other Assets And Other Liabilities

12.

OTHER ASSETS AND OTHER LIABILITIES

The following table sets forth the Company's other assets, by type, as of December 31, 2011 and 2010:


	December 31,
	2011		2010
Current tax receivables and deferred tax assets (net of valuation allowance) and other taxes	$	129,254	$	123,813
Advances and prepayments		86,264		94,973
Deferred debt issuance costs		5,879		7,594
Other		50,701		38,930

Total	$	272,098	$	265,310

The following table sets forth the Company's other liabilities, by type, as of December 31, 2011 and 2010:


	December 31,
	2011		2010
Accrued expenses	$	150,282	$	136,666
Current and deferred income taxes and other taxes		112,691		113,159
Employee benefit-related liabilities		70,036		67,779
Unclaimed funds at LFB		27,281		28,026
Abandoned leased space (principally in the U.K.)		11,688		8,203
Securities sold, not yet purchased		4,282		2,897
LAM Merger (present value of unpaid cash consideration)		777		71,394
Other		63,094		85,286

Total	$	440,131	$	513,410

Senior And Subordinated Debt

12 Months Ended

Dec. 31, 2011

Senior And Subordinated Debt [Abstract]

Senior And Subordinated Debt

13.

SENIOR AND SUBORDINATED DEBT

Senior Debt—Senior debt is comprised of the following as of December 31, 2011 and 2010:


	Initial Principal Amount		Maturity Date		Annual Interest Rate			Outstanding As Of December 31,
	Initial Principal Amount		Maturity Date		Annual Interest Rate			2011		2010
Lazard Group 7.125% Senior Notes (a)	$	550,000		5/15/15		7.125	%	$	528,500	$	528,500
Lazard Group 6.85% Senior Notes (b)		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group Credit Facility (c)		150,000		4/29/13		1.90	%		–		–

Total								$	1,076,850	$	1,076,850

(a)

During the year ended December 31, 2010, the Company repurchased $10,000 principal amount of the 7.125% Senior Notes, at a cost, excluding accrued interest, of $10,375, and, after the write-off of applicable unamortized debt issuance costs of $49, the Company recognized a pre-tax loss of $424. In connection with the issuance of the 7.125% Senior Notes, on April 1, 2005, Lazard Group entered into an interest rate forward agreement. On May 9, 2005, Lazard Group settled the interest rate forward agreement, of which $11,003 was deemed to be the effective portion of the hedge and recorded within AOCI and is being amortized as a charge to interest expense over the ten-year term of the 7.125% Senior Notes.

(b)	During the year ended December 31, 2009, the Company repurchased $900 principal amount of the 6.85% Senior Notes, at a cost, excluding accrued interest, of $635, and, after the write-off of applicable unamortized debt issuance costs of $7, the Company recognized a pre-tax gain of $258.

(c)

On April 29, 2010, Lazard Group entered into a $150,000, three-year senior revolving credit facility with a group of lenders (the "Credit Facility"). The Credit Facility, as amended, replaced the prior revolving credit facility, which was terminated as a condition to effectiveness of the Credit Facility. Interest rates under the Credit Facility vary and are based on either a Federal Funds rate or a Eurodollar rate, in each case plus an applicable margin. As of December 31, 2011, the annual interest rate for a loan accruing interest (based on the Federal Funds overnight rate), including the applicable margin, was 1.90%. At December 31, 2011 and 2010, no amounts were outstanding under the Credit Facility.

The Credit Facility contains customary terms and conditions, including certain financial covenants. In addition, the Credit Facility, 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, 2011, the Company was in compliance with all of these provisions. All of the Company's senior debt obligations are unsecured.

As of December 31, 2011, the Company had approximately $312,000 in unused lines of credit available to it, including the Credit Facility, and unused lines of credit available to LFB of approximately $91,000 (at December 31, 2011 exchange rates) and Edgewater of $65,000. In addition, LFB has access to the Eurosystem Covered Bond Purchase Program of the Banque de France.

Subordinated Debt—Subordinated debt at December 31, 2010 represented a promissory note amounting to $150,000. The note had a maturity date of September 30, 2016 and had a fixed interest rate of 3.25% per annum. Until June 30, 2011, the note had a conversion feature which permitted the holder to convert the note into a maximum of 2,631,570 shares of Class A common stock at an effective conversion price of $57 per share. No conversions had occurred. On July 22, 2011, the Company repurchased the note, at a cost, excluding accrued interest, of $131,829. Such repurchase resulted in a pre-tax gain of $18,171, which was recognized by the Company in the third quarter of 2011 and included in "revenue-other" on the accompanying consolidated statement of operations.

Debt maturities relating to senior borrowings outstanding at December 31, 2011 for each of the five years in the period ending December 31, 2016, and thereafter, are set forth in the table below.


Year Ending December 31,
2012-2014	$	–
2015		528,500
2016		–
Thereafter		548,350

Total	$	1,076,850

The Company's debt at December 31, 2011 and 2010 is recorded at historical amounts. At December 31, 2011 and 2010, the fair value of the Company's senior and subordinated debt outstanding was approximately $1,138,000 and $1,271,000, respectively, and exceeded the aggregate carrying value by approximately $61,000 and $44,000, respectively. The fair value of the Company's senior and subordinated debt was estimated using a discounted cash flow analysis based on the Company's current borrowing rates for similar types of borrowing arrangements or based on market quotations, where available.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Commitments And Contingencies [Abstract]

Commitments And Contingencies

12 Months Ended

Dec. 31, 2011

Commitments And Contingencies

14.

COMMITMENTS AND CONTINGENCIES

Leases—The Company leases office space and equipment under non-cancelable lease agreements, which expire on various dates through 2033.

Operating lease agreements, in addition to base rentals, generally are subject to escalation provisions based on certain costs incurred by the landlord. For the years ended December 31, 2011, 2010 and 2009, aggregate rental expense relating to operating leases amounted to $76,718, $66,350 and $69,412, respectively, and is included in "occupancy and equipment" or "technology and information services" on the consolidated statements of operations, depending on the nature of the underlying asset. The Company subleases office space under agreements, which expire on various dates through 2033. Sublease income from such agreements was $10,967, $10,478, and $11,327 for the years ended December 31, 2011, 2010 and 2009, respectively.

Capital lease obligations recorded under sale/leaseback transactions are payable through 2017 at a weighted average interest rate of approximately 6.4%. Such obligations are collateralized by certain buildings with a net book value of approximately $22,491 and $25,004 at December 31, 2011 and 2010, respectively. The net book value of all assets recorded under capital leases aggregated $24,589 and $27,767 at December 31, 2011 and 2010, respectively.

At December 31, 2011, minimum rental commitments under non-cancelable leases, net of sublease income, are approximately as follows:


Year Ending December 31,	Minimum Rental Commitments
Year Ending December 31,	Capital		Operating
2012	$	3,672	$	57,201
2013		3,588		64,382
2014		3,076		69,634
2015		2,750		65,242
2016		2,431		63,767
Thereafter		8,893		746,829

Total minimum lease payments		24,410		1,067,055
Less amount representing interest		4,326

Present value of capital lease commitments	$	20,084

Sublease proceeds				167,124

Net lease payments			$	899,931

With respect to abandoned leased facilities in the U.K., at December 31, 2011 and 2010, the Company has recognized liabilities of $10,632 and $7,194, respectively, which are included in "other liabilities" on the consolidated statements of financial condition. Payments toward the liabilities continue through the remaining term of the leases. Such liabilities are based on the discounted future commitment, net of expected sublease income. During the year ended December 31, 2011, the Company recorded a charge of $5,539 related to such abandoned lease facilities, which is included within "occupancy and equipment" on the consolidated statement of operations.

Guarantees—In the normal course of business, LFB provides indemnifications to third parties to protect them in the event of non-performance by its clients. At December 31, 2011, LFB had $3,907 of such indemnifications and held $2,655 of collateral/counter-guarantees to secure these commitments. The Company believes the likelihood of loss with respect to these indemnities is remote. Accordingly, no liability is recorded in the consolidated statement of financial condition.

Other Commitments—In the normal course of business, LFB enters into commitments to extend credit, predominately at variable interest rates. Such commitments at December 31, 2011 aggregated $15,647. These commitments have varying expiration dates and are fully collateralized and generally contain requirements for the counterparty to maintain a minimum collateral level. These commitments may not represent future cash requirements as they may expire without being drawn upon.

See Notes 6, 8, 9 and 17 of Notes to Consolidated Financial Statements for information regarding commitments relating to investment capital funding commitments, the LAM Merger, business acquisitions and obligations to fund our pension plans, respectively.

The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, LFB enters into underwriting commitments in which it participates as a joint underwriter. The settlement of such transactions are not expected to have a material adverse effect on the Company's consolidated financial position or results of operations. At December 31, 2011, LFB had no such underwriting commitments.

In the opinion of management, the fulfillment of the commitments described herein will 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, 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 does experience significant variation in its revenue and earnings on a quarterly basis. Accordingly, the results of any pending matter or matters could be significant when compared to the Company's earnings in any particular fiscal quarter. The Company believes, however, based on currently available information, that the results of any pending matters, in the aggregate, will not have a material effect on its business or financial condition.

The entire disclosure for commitments and contingencies.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 450
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-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Stockholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

15.

STOCKHOLDERS' EQUITY

Issuance of Class A Common Shares—During the year ended December 31, 2010, 3,000,000 shares of Class A common stock were newly issued by Lazard Ltd to Lazard Group in connection with the settlement of vested restricted stock unit grants denominated in shares of Class A common stock ("RSUs"). Such shares were authorized as part of the 25,000,000 shares of Class A common stock that may be issued under the Lazard Ltd 2005 Equity Incentive Plan (the "2005 Plan"). In addition, during the years ended December 31, 2011 and 2010, the Company issued an aggregate of 2,434,561 and 888,605 shares of Class A common stock, respectively, and during the year ended December 31, 2011, delivered 3,515,362 shares from Class A common stock held by its subsidiaries in connection with the LAM Merger and certain prior year business acquisitions (see Notes 8 and 9 of Notes to Consolidated Financial Statements).

Secondary Offerings —Pursuant to the applicable Prospectus Supplements during 2009 and 2010, certain selling shareholders of Lazard Ltd (which include current and former managing directors of Lazard (and, from time to time, certain of our directors, executive officers or former executive officers) and their permitted transferees (collectively, the "Selling Shareholders"), who hold LAZ-MD Holdings exchangeable interests and/or Class A common stock) may offer to sell shares of Class A common stock pursuant to applicable underwriting and pricing agreements. Secondary offerings during the years ended December 31, 2009 and 2010 are described below (no such secondary offerings occurred during the year ended December 31, 2011).

2009 – In June 2009, certain Selling Shareholders (the "June 2009 Selling Shareholders") sold 4,000,000 shares of Class A common stock at a price of $26.00 per share (the "June 2009 Secondary Offering"). Separately, in connection with the June 2009 Secondary Offering, Lazard Group agreed to purchase from the June 2009 Selling Shareholders 1,700,000 shares of Class A common stock for an aggregate cost of $44,200 ($26.00 per share), with such purchase being part of the share repurchase program in effect during 2009. In the aggregate, the June 2009 Selling Shareholders sold a total of 5,700,000 shares of Class A common stock (including 2,110,754 shares of Class A common stock previously received upon the exchange of a like number of LAZ-MD Holdings exchangeable interests and 3,589,246 shares of Class A common stock received upon a simultaneous exchange of a like number of LAZ-MD Holdings exchangeable interests).

In September 2009, certain Selling Shareholders (the "September 2009 Selling Shareholders") sold 5,215,921 shares of Class A common stock (including 2,411,001 shares of Class A common stock previously received upon the exchange of a like number of LAZ-MD Holdings exchangeable interests and 2,804,920 shares of Class A common stock received upon a simultaneous exchange of a like number of LAZ-MD Holdings exchangeable interests) at a price of $37.00 per share (the "September 2009 Secondary Offering", and together with the June 2009 Secondary Offering, the "2009 Secondary Offerings").

2010 – In March 2010, certain Selling Shareholders sold 7,869,311 shares of Class A common stock (including (i) 7,262 shares of Class A common stock previously received upon the exchange of a like number of LAZ-MD Holdings exchangeable interests, (ii) 6,180,639 shares of Class A common stock received upon a simultaneous exchange of a like number of LAZ-MD Holdings exchangeable interests (including 5,958,000 shares held by the Estate of Lazard's former Chairman and Chief Executive Officer and related trusts (collectively, the "Estate") and (iii) 1,681,410 shares held by the Estate) at a price of $35.90 per share (collectively, the "March 2010 Secondary Offering").

In August 2010, certain Selling Shareholders (the "August 2010 Selling Shareholders") sold 7,397,837 shares of Class A common stock at a price of $30.32 per share (the "August 2010 Secondary Offering"). Separately, in connection with the August 2010 Secondary Offering, Lazard Group agreed to purchase from the August 2010 Selling Shareholders 2,500,000 shares of Class A common stock for an aggregate cost of $75,800 ($30.32 per share), with such purchase being part of the share repurchase program in effect during 2010. In the aggregate, the August 2010 Selling Shareholders sold a total of 9,897,837 shares of Class A common stock (including 7,194,144 shares of Class A common stock previously received upon the exchange of a like number of LAZ-MD Holdings exchangeable interests and 2,703,693 shares of Class A common stock received upon a simultaneous exchange of a like number of LAZ-MD Holdings exchangeable interests).

In November 2010, certain Selling Shareholders (the "November 2010 Selling Shareholders") sold 3,000,000 shares of Class A common stock at a price of $35.77 per share (the "November 2010 Secondary Offering", and together with the March 2010 Secondary Offering and the August 2010 Secondary Offering, the "2010 Secondary Offerings"). Separately, in connection with the November 2010 Secondary Offering, Lazard Group agreed to purchase from the November 2010 Selling Shareholders 1,220,714 shares of Class A common stock for an aggregate cost of $43,665 ($35.77 per share), with such purchase being part of the share repurchase program in effect during 2010. In the aggregate, the November 2010 Selling Shareholders sold a total of 4,220,714 shares of Class A common stock (including 1,543,245 shares of Class A common stock previously received upon the exchange of a like number of LAZ-MD Holdings exchangeable interests and 2,677,469 shares of Class A common stock received upon a simultaneous exchange of a like number of LAZ-MD Holdings exchangeable interests).

Lazard Ltd did not receive any net proceeds from the sales of Class A common stock from the 2009 Secondary Offerings and the 2010 Secondary Offerings (collectively, the "2009 and 2010 Secondary Offerings").

Lazard Group Distributions—As previously described, Lazard Group's common membership interests are held by subsidiaries of Lazard Ltd and by LAZ-MD Holdings. Pursuant to provisions of the Operating Agreement, Lazard Group distributions in respect of its common membership interests are allocated to the holders of such interests on a pro rata basis. Such distributions represent amounts necessary to fund (i) any dividends Lazard Ltd may declare on its Class A common stock and (ii) tax distributions in respect of income taxes that Lazard Ltd's subsidiaries and the members of LAZ-MD Holdings incur as a result of holding Lazard Group common membership interests.

During the years ended December 31, 2011, 2010 and 2009, Lazard Group distributed the following amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd:


	Year Ended December 31,
	2011		2010		2009
Tax distributions:
LAZ-MD Holdings	$	699	$	9,480	$	25,316
Subsidiaries of Lazard Ltd		16,800		52,135		42,044

	$	17,499	$	61,615	$	67,360

Other distributions:
LAZ-MD Holdings	$	4,383	$	9,804	$	17,403
Subsidiaries of Lazard Ltd		70,572		50,581		33,451

	$	74,955	$	60,385	$	50,854

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.

Exchange of Lazard Group Common Membership Interests—In addition to the simultaneous exchanges that occurred in connection with the 2009 and 2010 Secondary Offerings discussed above, during the years ended 2009, 2010 and 2011, Lazard Ltd issued 7,523,236, 12,081,618 and 876,814 shares of Class A common stock, respectively, in connection with the exchange of a like number of Lazard Group common membership interests (received from members of LAZ-MD Holdings in exchange for a like number of LAZ-MD Holdings exchangeable interests).

See "Noncontrolling Interests" below for additional information regarding Lazard Ltd's and LAZ-MD Holdings' ownership interests in Lazard Group.

Share Repurchase Program—In January 2010, the Board of Directors of Lazard Ltd authorized, on a cumulative basis, the repurchase of up to $200,000 in aggregate cost of its Class A common stock and Lazard Group common membership interests through December 31, 2011. The Company's prior share repurchase program expired on December 31, 2009. In addition, in February 2011 and October 2011, the Board of Directors of Lazard Ltd authorized the repurchase of up to an additional $250,000 and $125,000, respectively, in aggregate cost of Class A common stock and Lazard Group common membership interests through December 31, 2012 and December 31, 2013, respectively. The Company expects that the share repurchase program, with respect to the Class A common stock, will continue to be used primarily to offset a portion of the shares that have been or will be issued under the 2005 Plan and the Lazard Ltd 2008 Incentive Compensation Plan (the "2008 Plan"). Pursuant to such authorizations, purchases have been made in the open market or through privately negotiated transactions, and since inception of the program in February 2006 through December 31, 2011, purchases with respect to such program are set forth in the table below (including, during the year ended December 31, 2011, purchases of 6,135,189 Class A common shares, at an aggregate cost of $204,835, and the purchase of 19,032 Lazard Group common membership interests, at an aggregate cost of $794):


	Number of Shares/Common Membership Interests Purchased		Average Price Per Share/Common Membership Interest
Class A common stock		22,908,848	$	32.94
Lazard Group common membership interests		1,400,089	$	32.66

As a result of the delivery of shares of Class A common stock during the five year period ended December 31, 2011 relating to (i) the settlement of vested RSUs and deferred stock unit grants ("DSUs"), (ii) the incentive plan share awards of shares of restricted Class A common stock, (iii) the issuance of shares of restricted Class A common stock in exchange for RSUs and (iv) the delivery of shares of Class A common stock in connection with business acquisitions and the LAM Merger, there were 3,492,017 and 6,847,508 shares of Class A common stock held by our subsidiaries at December 31, 2011 and 2010, respectively. Such Class A common shares are reported, at cost, as "Class A common stock held by subsidiaries" on the accompanying consolidated statements of financial condition.

As of January 1, 2012, $212,143 of the current aggregate $375,000 share repurchase amount authorized as of such date remained available under the share repurchase program as follows – $87,143 of the $250,000 share repurchase amount expiring December 31, 2012, and all of the $125,000 share repurchase amount expiring December 31, 2013. In addition, under the terms of the 2005 Plan and the 2008 Plan, upon the vesting of RSUs, shares of Class A common stock may be withheld by the Company to cover the recipient's estimated income tax liability (see Note 16 of Notes to Consolidated Financial Statements).

Preferred Stock—Lazard Ltd has 15,000,000 authorized shares of preferred stock, par value $0.01 per share, inclusive of its Series A preferred stock and Series B preferred stock. The Series A and Series B preferred shares are each non-participating securities that are or were each convertible into Class A common stock, and have no voting or dividend rights. During the years ended December 31, 2011, 2010 and 2009, 14,100, 4,862 and 4,862 shares of Series A preferred stock, respectively, were converted into shares of Class A common stock. Such conversions resulted in the issuance of 2,434,561, 572,988, and 479,732 shares of Class A common stock in the years ended December 31, 2011, 2010 and 2009, respectively. As of December 31, 2011 and 2010, 7,921 and 22,021 shares of Series A preferred stock were outstanding, respectively, and no shares of Series B preferred stock were outstanding at such respective dates.

At December 31, 2010, 4,862 shares of the Series A preferred shares outstanding were convertible into shares of Class A common stock. During the year ended December 31, 2011, an additional 9,238 shares became convertible, with the total of 14,100 shares of Series A preferred stock converting into shares of Class A common stock during the year. The remaining 7,921 and 17,159 shares of Series A preferred stock outstanding at December 31, 2011 and 2010, respectively, may become convertible into shares of Class A common stock upon completion or satisfaction of specified obligations in the applicable acquisition agreement (see Note 9 of Notes to Consolidated Financial Statements). The Series A preferred stock conversion rate into shares of Class A common stock varies, with the ultimate conversion rate dependent on certain variables, including the value of the Class A common stock, as defined, and the currency exchange rate on the date of conversion.

Accumulated Other Comprehensive Income (Loss), Net of Tax—The components of AOCI at December 31, 2011 and 2010 are as follows:


	December 31,
	2011			2010
Currency translation adjustments	$	3,719		$	13,193
Interest rate hedge		(3,557	)		(4,611	)
Employee benefit plans		(92,637	)		(56,595	)

Total AOCI		(92,475	)		(48,013	)
Less amount attributable to noncontrolling interests		(4,111	)		(1,855	)

Total Lazard Ltd AOCI	$	(88,364	)	$	(46,158	)

Noncontrolling Interests—Noncontrolling interests principally represent interests held in (i) Lazard Group by LAZ-MD Holdings, (ii) Edgewater's management vehicles that the Company is deemed to control, but does not own, and (iii) various GP interests and investment companies which are deemed to be controlled by the Company.

As of December 31, 2011 and 2010, LAZ-MD Holdings held approximately 5.2% and 6.0%, respectively, of the outstanding Lazard Group common membership interests. Subject to certain limitations, LAZ-MD Holdings' interests in Lazard Group are exchangeable for Class A common stock.

The following tables summarize the changes in ownership interests in Lazard Group held by Lazard Ltd and LAZ-MD Holdings during the years ended December 31, 2011, 2010 and 2009:


	Lazard Ltd					LAZ-MD Holdings						Total Lazard Group Common Membership Interests
	Common Membership Interests		% Ownership			Common Membership Interests			% Ownership			Total Lazard Group Common Membership Interests
Balance, January 1, 2009		76,294,912		62.4	%		45,938,752			37.6	%		122,233,664
Activity January 1, 2009 to December 31, 2009:
Common membership interest activity in connection with:
2009 Secondary Offerings		6,394,166					(6,394,166	)					–
Exchanges for Class A common stock		7,523,236					(7,523,236	)					–
Business acquisitions		1,953,598					–						1,953,598
Repurchase of common membership interests from LAZ-MD Holdings		–					(500,924	)					(500,924	)

Balance, December 31, 2009		92,165,912		74.5	%		31,520,426			25.5	%		123,686,338
Activity January 1, 2010 to December 31, 2010:
Common membership interest activity in connection with:
Equity compensation		3,000,000					–						3,000,000
2010 Secondary Offerings		11,561,801					(11,561,801	)					–
Exchanges for Class A common stock		12,081,618					(12,081,618	)					–
Business acquisitions		888,605					–						888,605
Repurchase of common membership interests from LAZ-MD Holdings		–					(224,382	)					(224,382	)

Balance, December 31, 2010		119,697,936		94.0	%		7,652,625			6.0	%		127,350,561
Activity January 1, 2011 to December 31, 2011:
Common membership interest activity in connection with:
Exchanges for Class A common stock		876,814					(876,814	)					–
Business acquisitions		2,434,561					–						2,434,561
Repurchase of common membership interests from LAZ-MD Holdings		–					(19,032	)					(19,032	)

Balance, December 31, 2011		123,009,311		94.8	%		6,756,779			5.2	%		129,766,090

The change in Lazard Ltd's ownership in Lazard Group in the years ended December 31, 2011, 2010 and 2009 did not materially impact Lazard Ltd's stockholders' equity.

The tables below summarize net income (loss) attributable to noncontrolling interests for the years ended December 31, 2011, 2010 and 2009 and noncontrolling interests as of December 31, 2011 and 2010 in the Company's consolidated financial statements:


Net Income (Loss) Attributable to Noncontrolling Interests Year Ended December 31,
	2011			2010			2009
LAZ-MD Holdings	$	11,964		$	12,564			$(60,836	)
Edgewater		4,130			6,690			2,927
GP interests and consolidated investment companies		(139	)		856			266
Other		(313	)		(666	)		(360	)

Total	$	15,642		$	19,444			$(58,003	)


	Noncontrolling Interests As Of December 31,
	2011		2010
LAZ-MD Holdings	$	31,954	$	22,167
Edgewater		91,713		111,289
GP interests and consolidated investment companies		15,560		8,219
Other		1,486		2,044

Total	$	140,713	$	143,719

Dividend Declared, January 2012—On January 25, 2012, the Board of Directors of Lazard Ltd declared a quarterly dividend of $0.16 per share on its Class A common stock, totaling $19,681, payable on February 24, 2012, to stockholders of record on February 6, 2012.

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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Incentive Plans

12 Months Ended

Dec. 31, 2011

Incentive Plans [Abstract]

Incentive Plans

16.

INCENTIVE PLANS

Share-Based Incentive Plan Awards

A description of Lazard Ltd's 2005 Plan and 2008 Plan and activity with respect thereto during the years ended December 31, 2011, 2010 and 2009, is presented below.

Shares Available Under the 2005 Plan and 2008 Plan

The 2005 Plan authorizes the issuance of up to 25,000,000 shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock, stock units and other equity-based awards. Each stock unit granted under the 2005 Plan represents a contingent right to receive one share of Class A common stock, at no cost to the recipient. The fair value of such stock unit awards is determined based on the closing market price of Class A common stock at the date of grant.

In addition to the shares available under the 2005 Plan, additional shares of Class A common stock are available under the 2008 Plan. The maximum number of shares available under the 2008 Plan is based on a formula that limits the aggregate number of shares that may, at any time, be subject to awards that are considered "outstanding" under the 2008 Plan to 30% of the then-outstanding shares of Class A common stock (treating, for this purpose, the then-outstanding exchangeable interests of LAZ-MD Holdings on a "fully-exchanged" basis as described in the 2008 Plan).

Restricted and Deferred Stock Units

RSUs generally require future service as a condition for the delivery of the underlying shares of Class A common stock (unless the recipient is then eligible for retirement under the Company's retirement policy) and convert into Class A 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 amortized over the vesting periods or requisite service periods, and, for purposes of calculating diluted net income per share, are included in the diluted weighted average shares of Class A common stock outstanding using the treasury stock method. Expense relating to RSUs was as follows within the Company's consolidated statements of operations:


	Year Ended December 31,
	2011		2010		2009
Compensation and benefits (*)	$	264,110	$	256,214	$	333,823
Restructuring		–		46,880		24,239

Total	$	264,110	$	303,094	$	358,062

(*)

Includes, during the year ended December 31, 2010, $24,860 relating to the amendment of the Company's retirement policy (described below) and, during the year ended December 31, 2009, $86,514 of accelerated amortization expense relating to awards held by Lazard's former Chairman and Chief Executive Officer as a result of his death.

RSUs issued subsequent to December 31, 2005 generally include a dividend participation right that provides that during vesting periods each RSU is attributed additional RSUs (or fractions thereof) equivalent to any ordinary quarterly dividends paid on Class A common stock during such period. During the years ended December 31, 2011, 2010 and 2009, issuances of RSUs pertaining to such dividend participation rights and respective charges to "retained earnings", net of estimated forfeitures, (with corresponding credits to "additional paid-in-capital") consisted of the following:


	Year Ended December 31,
	2011		2010		2009
Number of RSUs issued		389,846		318,025		331,642
Charges to retained earnings, net of estimated forfeitures	$	11,120	$	9,522	$	4,042

In January 2010, the Company amended its retirement policy with respect to RSU awards. Such amendment served to modify the retirement eligibility vesting requirements of existing and future RSU awards, and, as noted above, Lazard accelerated the recognition of compensation expense for the affected RSU awards. Accordingly, the Company recorded a non-cash charge to "compensation and benefits" expense of $24,860 in the first quarter of 2010 relating to prior years' awards.

Non-executive members of the Board of Directors receive approximately 55% of their annual compensation for service on the Board of Directors and its committees in the form of DSUs, which resulted in 26,859, 31,588 and 36,627 DSUs granted during the years ended December 31, 2011, 2010 and 2009, respectively. Their remaining compensation is payable in cash, which they may elect to receive in the form of additional DSUs under the Directors' Fee Deferral Unit Plan described below. DSUs are convertible into Class A common stock at the time of cessation of service to the Board. The DSUs include a cash dividend participation right equivalent to any ordinary quarterly dividends paid on Class A common stock, and resulted in nominal cash payments for the years ended December 31, 2011, 2010 and 2009.

On May 9, 2006, the Board of Directors adopted the Directors' Fee Deferral Unit Plan, which allows the Company's Non-Executive Directors to elect to receive additional DSUs pursuant to the 2005 Plan in lieu of some or all of their cash fees. The number of DSUs that shall be granted to a Non-Executive Director pursuant to this election will equal the value of cash fees that the applicable Non-Executive Director has elected to forego pursuant to such election, divided by the market value of a share of Class A common stock on the date on which the foregone cash fees would otherwise have been paid. During the years ended December 31, 2011, 2010 and 2009, 8,184, 7,438 and 8,899 DSUs, respectively, had been granted pursuant to such Plan.

DSU awards are expensed at their fair value on their date of grant, which, inclusive of amounts related to the Directors' Fee Deferral Unit Plan, totaled $1,265, $1,230 and $1,316 during the years ended December 31, 2011, 2010 and 2009, respectively.

The following is a summary of activity relating to RSUs and DSUs during the three-year period ended December 31, 2011:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2009		22,141,468		$	39.17		65,256		$	40.32
Granted (including 331,642 RSUs relating to dividend participation)		8,006,287		$	31.50		45,526		$	28.92
Forfeited		(831,022	)	$	36.91		–			–
Vested/Converted		(5,948,920	)	$	37.64		(7,636	)	$	34.05

Balance, December 31, 2009		23,367,813		$	37.01		103,146		$	35.75
Granted (including 318,025 RSUs relating to dividend participation)		7,890,127		$	35.69		39,026		$	31.51
Forfeited		(859,756)		$	36.13		–			–
Vested/Converted/Exchanged		(8,289,549)		$	39.42		(20,435	)	$	35.38

Balance, December 31, 2010		22,108,635		$	35.67		121,737		$	34.46
Granted (including 389,846 RSUs relating to dividend participation)		7,002,736		$	43.21		35,043		$	36.09
Forfeited		(305,155	)	$	37.83		–			–
Vested/Converted		(8,054,387	)	$	39.13		(16,120	)	$	34.76

Balance, December 31, 2011		20,751,829		$	36.84		140,660		$	34.83

During the years ended December 31, 2011, 2010 and 2009, 8,054,387 RSUs, 8,248,654 RSUs and 5,948,920 RSUs (including the acceleration of 4,406,440 RSUs held by Lazard's former Chairman and Chief Executive Officer as a result of his death) vested, respectively, and, during the year ended December 31, 2010, 40,895 RSUs were exchanged for 40,895 shares of restricted Class A common stock. In connection with the vested RSUs, the Company satisfied certain employees' tax obligations in lieu of issuing 2,353,561, 1,674,261 and 446,172 shares of Class A common stock in the years ended December 31, 2011, 2010 and 2009, respectively. Accordingly, 5,700,826, 6,574,393 and 5,502,748 shares of Class A common stock held by Lazard Group were delivered during the years ended December 31, 2011, 2010 and 2009, respectively.

As of December 31, 2011, unrecognized RSU compensation expense, adjusted for estimated forfeitures, was approximately $259,000, with such unrecognized compensation expense expected to be recognized over a weighted average period of approximately 1.3 years subsequent to December 31, 2011. The ultimate amount of such expense is dependent upon the actual number of RSUs that vest. The Company periodically assesses the forfeiture rates used for such estimates. A change in estimated forfeiture rates would cause the aggregate amount of compensation expense recognized in future periods to differ from the estimated unrecognized compensation expense described herein.

Restricted Stock

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the two-year period ended December 31, 2011:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2010		–			–
Granted/Exchanged (a)		95,332		$	37.63
Vested		–			–

Balance, December 31, 2010		95,332		$	37.63
Granted		327,238		$	43.70
Vested		(327,238	)	$	43.70

Balance, December 31, 2011		95,332		$	37.63

(a)

Includes 40,895 shares of restricted Class A common stock issued in exchange for 40,895 RSUs previously granted during the year at a grant date fair value of $36.10 per share. The vesting terms of such restricted Class A common stock issued are the same as those of the original award exchanged. There was no incremental compensation cost incurred as a result of the exchange.

The Company satisfied certain employees' tax obligations in lieu of delivering 68,866 shares of Class A common stock in connection with shares of restricted Class A common stock that vested during the year ended December 31, 2011. Accordingly, 258,372 shares of Class A common stock held by the Company were delivered during the year ended December 31, 2011.

Expense relating to restricted stock awards is charged to "compensation and benefits" expense within the Company's consolidated statements of operations, and amounted to $9,767 and $979 for the years ended December 31, 2011 and 2010, respectively. The awards include a cash dividend participation right equivalent to any ordinary quarterly dividends paid on Class A common stock during the period, which will vest concurrently with the underlying restricted stock award. At December 31, 2011, unrecognized restricted stock expense was approximately $957, with such expense to be recognized over a weighted average period of approximately 0.7 years subsequent to December 31, 2011.

For purposes of calculating diluted net income per share, such awards are included in the diluted weighted average shares of Class A common stock outstanding using the "treasury stock" method.

Lazard Fund Interests

As previously described, in February 2011 the Company granted to eligible employees Lazard Fund Interests. In connection with the Lazard Fund Interests and other similar deferred compensation arrangements, the Company recorded a prepaid compensation asset and a corresponding compensation liability on the grant date based upon the fair value of the award. The prepaid asset is amortized on a straight-line basis over the applicable vesting periods or requisite service periods, and is charged to "compensation and benefits" expense within the Company's consolidated statement of operations, and amounted to $14,551 for the year ended December 31, 2011. Lazard Fund Interests 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, and is adjusted for changes in fair value primarily related to the changes in the fair value of the underlying investments. Such changes in the fair value of the derivative liability are recorded to "compensation and benefits" expense within the Company's consolidated statements of operations, the impact of which equally offsets the changes in fair value of the underlying investments owned and is reported in "revenue-other" in the consolidated statement of operations (see Note 7 of Notes to Consolidated Financial Statements).

The Lazard Fund Interests granted as of December 31, 2011 generally provide for one-third vesting on March 1, 2013 and two-thirds vesting on March 3, 2014. As of December 31, 2011, unrecognized compensation expense for Lazard Fund Interests and other similar deferred compensation arrangements, adjusted for estimated forfeitures, was approximately $18,000. Such compensation expense will generally be recognized over a weighted average period of approximately 1.8 years subsequent to December 31, 2011.

Incentive Awards Granted In February 2009

A portion of the incentive awards granted in February 2009 included a deferred cash component, which was originally scheduled to vest over a maximum period of four years. During the fourth quarter of 2009, in connection with a review of the Company's compensation policy, the Company accelerated the vesting of the then unamortized portion of such previously awarded deferred cash incentive awards which resulted in a pre-tax charge to "compensation and benefits" expense of $60,512.

Incentive Awards Granted In February 2012

In February 2012, the Company granted approximately $281,000 of deferred incentive awards to eligible employees. These grants included approximately 6.1 million RSUs or shares of restricted Class A common stock, that in accordance with U.S. GAAP, were measured at the grant date fair value of $27.57 per RSU or share of restricted Class A common stock, or an aggregate of approximately $168,000. In addition, eligible employees will have the choice of receiving a portion of their deferred incentive awards in a combination of (i) Lazard Fund Interests, and (ii) additional RSUs or shares of restricted Class A common stock. The aggregate fair value on the date of grant of these awards is approximately $102,000. The remaining deferred incentive awards include deferred cash awards and a portion of fund managers' year-end incentive compensation that is reinvested in certain asset management funds. The aggregate fair value on the date of grant of these awards is approximately $11,000.

The RSUs, restricted stock and Lazard Fund Interests granted each provide for one-third vesting on March 3, 2014 and the remaining two-thirds vesting on March 2, 2015. Compensation expense with respect to such incentive awards will generally be recognized over the vesting period, with such compensation expense to be recognized over a weighted average period of approximately 2.7 years.

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2011

Employee Benefit Plans [Abstract]

Employee Benefit Plans

17.

EMPLOYEE BENEFIT PLANS

The Company provides retirement and other post-retirement benefits to certain of its employees through defined contribution and defined benefit pension plans and other post-retirement plans. These plans generally provide benefits to participants based on average levels of compensation. Expenses related to the Company's employee benefit plans are included in "compensation and benefits" expense on the consolidated statements of operations.

The Company also offers a partially funded contributory post-retirement medical plan covering qualifying U.S. employees (the "Medical Plan"). The Medical Plan pays a stated percentage of most necessary medical expenses incurred by retirees, after subtracting payments by Medicare or other providers and after stated deductibles have been met. Participants become eligible for benefits if they retire from the Company after meeting certain age and service requirements. Effective January 1, 2005, post-retirement health care benefits are no longer offered to those managing directors and employees hired on or after January 1, 2005 and for those managing directors and employees hired before January 1, 2005 who did not attain the age of 40 before December 31, 2005. In addition, effective January 1, 2006, the cost sharing policy changed for those who qualify for the benefit. The plan was amended effective January 1, 2008, such that previously ineligible managing directors and employees who meet the Medical Plan's age and service requirements have the ability, upon retirement, to elect to purchase medical coverage through the Medical Plan at no cost to the Company. The Company will continue to contribute towards the cost of retiree medical premiums for those employees hired before January 1, 2005 who were age 55 or older on or before December 31, 2005.

Employer Contributions to Pension Plans—The Company's funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans' Trustees. Management also evaluates from time to time whether to make voluntary contributions to the plans. The Company did not make any contributions to the U.S. pension plans during the year ended December 31, 2011, however it expects to make a contribution of approximately $700 to the U.S. pension plans in the year ending December 31, 2012.

In accordance with agreements reached with the Trustees of certain U.K. pension plans in 2005, the Company was obligated to make further contributions to such pension plans based upon the cumulative performance of the plans' assets against specific benchmarks as measured on June 1, 2009 and subsequently remeasured on June 1, 2010. As of December 31, 2009, the obligation related to the cumulative underperformance of the plans' assets (the "underperformance obligation") was payable in equal monthly installments through May 2013. During the year ended December 31, 2010, the Company contributed approximately $8,600 to settle the plans' underperformance obligation in full.

Further on June 30, 2009 the Company and the Trustees concluded the December 31, 2007 triennial valuation of the U.K. pension plans discussed above, pursuant to which the Company agreed to annual future contributions to the plan through 2018. The agreement also required the Company to secure its obligations' to the pension plans by placing in escrow 12.5 million British pounds (with the Company depositing such amount in escrow in July 2009), with a final redemption date of December 31, 2018. The aggregate escrow balance at December 31, 2010 had been recorded in "cash deposited with clearing organizations and other segregated cash" and "investments" on the accompanying consolidated statement of financial condition. The terms of this agreement were subject to adjustment based on the results of the December 31, 2010 triennial valuation and subsequent triennial valuations.

During 2011, the Company and the Trustees of the U.K. pension plans referred to above commenced negotiations regarding the terms of the December 31, 2010 triennial valuations of the plans and potential future contributions to the plans. We currently anticipate that the valuations will be concluded by March 31, 2012, with a tentative agreement having been reached in principle that would supersede the June 2009 agreement described above and that provides pension funding terms whereby the Company: (i) made a contribution in December 2011 to the plans of 2.3 million British pounds ($3,687 at December 31, 2011 exchange rates) from the escrow account, (ii) will make contributions of 1 million British pounds during each year from 2012 through 2020 inclusive and (iii) will amend and extend the existing escrow arrangement into an account security arrangement covering 10 million British pounds from the existing escrow and additional contributions of 1 million British pounds into such account security arrangement during each year from 2014 through 2020, inclusive, with an agreement that assets from the account security arrangements will be released into the plans if and to the extent that the value of the plans' assets falls short of the funding target for June 1, 2020 that has been agreed upon with the Trustees. The terms of the tentative agreement are subject to adjustment based on the results of subsequent triennial valuations. Additionally, the Company is discussing with the Trustees the extent to which the Company would contribute to the plans to cover their administrative expenses. The aggregate escrow balance at December 31, 2011 has been recorded in "cash deposited with clearing organizations and other segregated cash" on the accompanying consolidated statement of financial condition. Income on the escrow balance accretes to the Company and is recorded in interest income.

Additionally, during the year ended December 31, 2011, contributions made to other non-U.S. pension plans amounted to $4,867. The Company expects to contribute a similar amount to these other non-U.S. pension plans in the year ending December 31, 2012.

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 U.S. and non-U.S. defined benefit pension plans and the U.S. post-retirement Medical Plan. The Company uses December 31 as the measurement date for its employee benefit plans.


	Pension Plans						Post-Retirement Medical Plan
	2011			2010			2011			2010
Change in benefit obligation
Benefit obligation at beginning of year	$	519,779		$	525,458		$	5,799		$	5,358
Service cost		651			598			69			81
Interest cost		28,266			27,734			278			292
Actuarial (gain) loss		51,401			11,253			(437	)		610
Benefits paid		(21,718	)		(21,826	)		(347	)		(542	)
Foreign currency translation and other adjustments		(3,348	)		(23,438	)

Benefit obligation at end of year		575,031			519,779			5,362			5,799

Change in plan assets
Fair value of plan assets at beginning of year		554,988			524,656
Actual return on plan assets		29,870			61,452
Employer contributions		8,689			13,284			347			542
Benefits paid		(21,718	)		(21,826	)		(347	)		(542	)
Foreign currency translation and other adjustments		(2,918	)		(22,578	)

Fair value of plan assets at end of year		568,911			554,988			–			–

Funded surplus (deficit) at end of year	$	(6,120	)	$	35,209		$	(5,362	)	$	(5,799	)

Amounts recognized in the consolidated statements of financial condition at December 31, 2011 and 2010 consist of:
Prepaid pension asset (included in "other assets")	$	31,457		$	61,572
Accrued benefit liability (included in "other liabilities")		(37,577	)		(26,363	)	$	(5,362	)	$	(5,799	)

Net amount recognized	$	(6,120	)	$	35,209		$	(5,362	)	$	(5,799	)

Amounts recognized in AOCI (excluding tax benefits of $14,183 and $2,689 at December 31, 2011 and 2010, respectively) consist of:
Actuarial net loss (gain)	$	93,186		$	41,898		$	(261	)	$	177
Prior service cost		13,896			17,209

Net amount recognized	$	107,082		$	59,107		$	(261	)	$	177

The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2011 and 2010:


	U.S. Pension Plans As Of December 31,				Non-U.S. Pension Plans As Of December 31,				Total As Of December 31,
	2011		2010		2011		2010		2011		2010
Fair value of plan assets	$	24,295	$	23,471		$544,616	$	531,517	$	568,911	$	554,988
Accumulated benefit obligation	$	33,493	$	26,644	$	541,538	$	493,135	$	575,031	$	519,779
Projected benefit obligation	$	33,493	$	26,644	$	541,538	$	493,135	$	575,031	$	519,779

The following table summarizes the components of benefit cost (credit), the return on plan assets, benefits paid, contributions and other amounts recognized in AOCI for the years ended December 31, 2011, 2010 and 2009:


	Pension Plans For The Years Ended December 31,									Post-Retirement Medical Plan For The Years Ended December 31,
	2011			2010			2009			2011			2010			2009
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	651		$	598		$	1,432		$	69		$	81		$	98
Interest cost		28,266			27,734			27,419			278			292			310
Expected return on plan assets		(30,490	)		(29,347	)		(28,310	)
Amortization of:
Prior service cost (credit)		2,979			2,835			3,099						(1,023	)		(1,382	)
Net actuarial loss		258			806			1,323

Net periodic benefit cost (credit)		1,664			2,626			4,963			347			(650	)		(974	)
Settlements (curtailments)								(7	)

Total benefit cost (credit)	$	1,664		$	2,626		$	4,956		$	347		$	(650	)	$	(974	)


Actual return on plan assets	$	29,870		$	61,452		$	53,499
Employer contributions	$	8,689		$	13,284		$	7,581		$	347		$	542		$	378
Benefits paid	$	21,718		$	21,826		$	22,201		$	347		$	542		$	378
Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax charge (benefit) of $(11,495), $7,530 and $(13,415) during the years ended December 31, 2011, 2010 and 2009, respectively):
Net actuarial (gain) loss	$	51,703		$	(21,026	)	$	22,122		$	(438	)	$	610		$	(1,407	)
Prior service (credit)								(2,449	)
Reclassification of prior service (cost) credit to earnings		(2,979	)		(2,835	)		(3,099	)					1,023			1,382
Reclassification of actuarial loss to earnings		(258	)		(806	)		(1,316	)
Currency translation and other adjustments		(491	)		(3,980	)		28,516

Total recognized in AOCI	$	47,975		$	(28,647	)	$	43,774		$	(438	)	$	1,633		$	(25	)

Net amount recognized in total periodic benefit cost and AOCI	$	49,639		$	(26,021	)	$	48,730		$	(91	)	$	983		$	(999	)

The amounts in AOCI on the consolidated statement of financial condition as of December 31, 2011 that are expected to be recognized as components of net periodic benefit cost (credit) for the year ending December 31, 2012 are as follows:


	Pension Plans		Post-Retirement Medical Plan		Total
Prior service cost	$	2,772	$	–	$	2,772
Net actuarial loss	$	1,504	$	–	$	1,504

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, 2011, 2010 and 2009 are set forth below:


	Pension Plans December 31,									Post-Retirement Medical Plan December 31,
	2011			2010			2009			2011			2010		2009
Weighted average assumptions used to determine benefit obligations:
Discount rate		4.8	%		5.4	%		5.7	%		4.1	%		5.0%		5.6%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		4.7	%		5.0	%		5.5	%		5.0	%		5.6%		5.8%
Expected long-term rate of return on plan assets		5.4	%		5.9	%		6.2	%		–			–		–
Healthcare cost trend rates used to determine net periodic benefit cost:
Initial											8.0	%		8.5%		9.0%
Ultimate											6.0	%		6.0%		6.0%
Year ultimate trend rate achieved											2015			2015		2015

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 historic returns. This basis is consistent for all years presented.

The assumed cost of healthcare has an effect on the amounts reported for the Company's post-retirement plans. A 1% change in the assumed healthcare cost trend rate would increase (decrease) our cost and obligation as follows:


	1% Increase				1% Decrease
	2011		2010		2011			2010
Cost	$	66	$	39	$	(49	)	$	(34	)
Obligation	$	929	$	1,231	$	(649	)	$	(891	)

Expected Benefit Payments—The following table summarizes the expected benefit payments for the Company's plans for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter:


	Pension Plans		Post-Retirement Medical Plan
2012	$	21,055	$	360
2013		21,466		393
2014		22,327		391
2015		23,392		372
2016		24,597		352
2017-2021		136,727		1,737

Plan Assets—The following tables present the categorization of our plans' assets as of December 31, 2011 and 2010, measured at fair value, into a fair value hierarchy in accordance with fair value measurement disclosure requirements:


	As of December 31, 2011
	Level 1		Level 2		Level 3		Total
Asset Category
Cash	$	6,836	$	–	$	–	$	6,836
Equity securities		148,431		–		–		148,431
Debt securities:
Corporate bonds		26,137		–		–		26,137
Non-U.S. Governments and agency securities		22,232		–		–		22,232
Mutual funds:
Equity		11,148		34,395		–		45,543
Debt		13,141		302,384		1,777		317,302
Other		–		2,430		–		2,430

Total	$	227,925	$	339,209	$	1,777	$	568,911


	As of December 31, 2010
	Level 1		Level 2		Total
Asset Category
Cash	$	9,571	$	–	$	9,571
Equity securities		170,989		–		170,989
Debt securities:
Corporate bonds		44,580		–		44,580
Non-U.S. Governments and agency securities		40,515		–		40,515
Mutual funds:
Equity		12,133		33,488		45,621
Debt		11,334		229,551		240,885
Other		–		2,827		2,827

Total	$	289,122	$	265,866	$	554,988

Activity in the fair value of the plans' Level 3 debt mutual funds for the year ended December 31, 2011 consisted of purchases and net unrealized/realized gains of $1,837 and $3, respectively, partially offset by unfavorable foreign currency translation adjustments of $63.

At December 31, 2011 and 2010, the Company's U.S. pension plans had 46% and 52%, respectively, of the plans' assets invested in exchange-traded mutual funds that invest in equity securities and 54% and 48%, respectively, invested in an exchange-traded mutual fund that invests in debt securities, both of which are categorized as Level 1. The Company's non-U.S. pension plans at December 31, 2011 and 2010 had 36% and 43%, respectively, of the plans' assets invested in certain debt mutual funds which are categorized as Level 2. The Company's other non-U.S. pension plans' investment holdings did not individually constitute more than 10% of non-U.S. pension plan assets at December 31, 2011 and 2010.

Investment Policies and Strategies—The primary investment goal is to ensure that the 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 trust 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 values of plan investments classified as Level 1 assets are based on market quotes. The fair values of plan assets classified as Level 2 assets are primarily based on information provided by fund managers.

Defined Contribution Plans—Pursuant to certain matching contributions, the Company contributes to employer sponsored defined contribution plans. Such contributions amounted to $10,944, $9,684 and $8,409 for the years ended December 31, 2011, 2010 and 2009, respectively, which are included in "compensation and benefits" expense on the consolidated statements of operations.

The entire disclosure for pension and other postretirement benefits.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Emerging Issues Task Force (EITF)
-Number 03-2
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-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
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-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Restructuring Plans

12 Months Ended

Dec. 31, 2011

Restructuring Plans [Abstract]

Restructuring Plans

18.

RESTRUCTURING PLAN S

In each of the first quarters of 2010 and 2009, the Company announced a restructuring plan which included certain staff reductions and realignments of personnel (the "2010 Restructuring Plan" and the "2009 Restructuring Plan", respectively, and collectively the "2010 and 2009 Restructuring Plans"). In connection with the 2010 Restructuring Plan, the Company recorded a charge in the first quarter of 2010 of $87,108, inclusive of $46,880 relating to the acceleration of RSUs (in aggregate, the "2010 Restructuring Charge"), and, in connection with the 2009 Restructuring Plan, the Company recorded a charge in the first quarter of 2009 of $62,550, inclusive of $24,239 relating to the acceleration of RSUs (in aggregate, the "2009 Restructuring Charge", and, together with the 2010 Restructuring Charge, the "2010 and 2009 Restructuring Charges").

The 2010 and 2009 Restructuring Charges primarily consisted of compensation-related expenses, including the acceleration of unrecognized expenses pertaining to RSUs previously granted to individuals who were terminated pursuant to the restructuring, severance and benefit payments and other costs. As of December 31, 2011 and 2010, the remaining liability associated with the 2010 Restructuring Plan was $9,456 and $21,381, respectively, and, as of December 31, 2011 and 2010, the remaining liability associated with the 2009 Restructuring Plan was $2,791 and $5,427, respectively. During the years ended December 31, 2011 and 2010, the Company made cash payments of $10,625 and $18,847, respectively, for the 2010 Restructuring Plan and $1,436 and $6,073, respectively, for the 2009 Restructuring Plan. Further during the year ended December 31, 2011, we reduced our provisions by $1,300 and $1,200 for the 2010 and 2009 Restructuring Plans, respectively. Liabilities relating to the 2010 and 2009 Restructuring Plans are reported within "accrued compensation and benefits" and "other liabilities" on the accompanying consolidated statements of financial condition.

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income Taxes

19.

INCOME TAXES

As a result of its indirect investment in Lazard Group, Lazard Ltd, through certain of its subsidiaries, is subject to U.S. federal income taxes on its portion of Lazard Group's operating income. 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. In addition, Lazard Group is subject to UBT which is attributable to Lazard Group's operations apportioned to New York City. UBT is incremental to the U.S. federal statutory tax rate. Outside the U.S., Lazard Group operates principally through subsidiary corporations that are subject to local income taxes.

The components of the Company's provision for income taxes for the years ended December 31, 2011, 2010 and 2009, and a reconciliation of the U.S. federal statutory income tax rate to the Company's effective tax rates for such periods are shown below.


	Year Ended December 31,
	2011			2010		2009
Current:
Federal	$	(501	)	$	833	$	(6,017	)
Foreign		35,885			27,626		35,082
State and local (primarily UBT)		2,342			12,652		380

Total current		37,726			41,111		29,445

Deferred:
Federal		16,167			2,785		(19,287	)
Foreign		(2,832	)		5,331		(4,147	)
State and local (primarily UBT)		(6,121	)		–		–

Total deferred		7,214			8,116		(23,434	)

Total	$	44,940		$	49,227	$	6,011



	Year Ended December 31,
	2011			2010			2009
U.S. federal statutory income tax rate		35.0	%		35.0	%		35.0	%
Income of noncontrolling interests		(2.0	)		(5.0	)		(10.8	)
Foreign source (income) loss not subject to U.S. income tax		(13.8	)		(15.1	)		20.2
Foreign taxes		8.3			12.0			(17.0	)
State and local taxes (primarily UBT)		0.9			4.3			(0.2	)
Change in valuation allowance		(8.3	)		(10.9	)		(32.8	)
Other, net		(1.0	)		(0.1	)		2.3

Effective income tax rate		19.1	%		20.2	%		(3.3	)%

See Note 23 of Notes to Consolidated Financial Statements 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, which are included in "other assets" and "other liabilities", respectively, on the consolidated statements of financial condition, are as follows:


	December 31,
	2011			2010
Deferred Tax Assets:
Basis adjustments (primarily as a result of the separation and recapitalization transactions that occurred during 2005 and from secondary offerings)	$	846,252		$	877,143
Compensation and benefits		196,133			207,080
Net operating loss and tax credit carryforwards		209,781			156,798
Depreciation and amortization		1,519			14,785
Other		25,410			39,316

Gross deferred tax assets		1,279,095			1,295,122
Valuation allowance		(1,145,257	)		(1,165,274	)

Total deferred tax assets (net of valuation allowance)	$	133,838		$	129,848

Deferred Tax Liabilities:
Depreciation and amortization	$	16,240		$	16,469
Compensation and benefits		10,729			20,563
Goodwill		15,031			9,839
Other		41,581			35,201

Total deferred tax liabilities	$	83,581		$	82,072

The basis adjustments recorded as of December 31, 2011 and 2010 are the result of:

•

purchases and redemptions of historical and working member interests consummated in connection with the separation and recapitalization of the Company, which resulted in deferred tax assets of $176,871 and $196,049 at December 31, 2011 and 2010, respectively,

•

tax basis step-ups resulting from the exchange of LAZ-MD exchangeable interests and from secondary offerings, and associated with LAM Merger which in the aggregate resulted in deferred tax assets of $638,069 and $640,720 at December 31, 2011 and 2010, respectively,

•

tax basis step-up for U.S. income tax purposes on certain U.K. assets, which resulted in deferred tax assets of $24,338 and $32,455 at December 31, 2011 and 2010, respectively, and

•

tax basis step-up for payments made under the tax receivable agreement of $6,974 and $7,919 at December 31, 2011 and 2010, respectively.

Although we have been profitable on a consolidated basis in the last two years, certain of our tax-paying entities have individually experienced pre-tax losses on a cumulative three-year basis primarily due to permanent differences between net income and taxable income at such entities. Considering these losses and the other factors listed below, we have recorded valuation allowances on our deferred tax assets of $1,145,257 and $1,165,274 as of December 31, 2011 and December 31, 2010, respectively. If these entities achieve sustainable levels of profitability in the future, we believe there is a reasonable possibility that the valuation allowance recorded against our deferred tax assets at such entities could be reduced significantly. The valuation allowance at December 31, 2011 reflects a net decrease of $20,017 from the balance of $1,165,274 at December 31, 2010.

The Company had net operating loss and tax credit carryforwards for which related deferred tax assets were recorded at December 31, 2011 primarily relating to:

(i)

indefinite-lived carryforwards (subject to various limitations,) of approximately $50,800, primarily in the U.K. and Italy, and

(ii)

certain carryforwards of approximately $137,100 in the U.S., which begin expiring in 2029.

As a result of certain realization requirements regarding share-based incentive plan awards, certain deferred tax assets pertaining to tax deductions related to equity compensation in excess of compensation recognized for financial reporting that would otherwise have been recognized at December 31, 2011 and 2010 of $19,900 and $9,065, respectively, are not included in the table above. The impact of such excess tax deductions will be recorded in stockholders' equity if and when such deferred tax assets are ultimately realized.

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 2007. While we are under examination in various tax jurisdictions with respect to certain open years, the Company believes that the result of any final determination related to these examinations is not expected to 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, 2011, 2010 and 2009 is as follows:


	Year Ended December 31,
	2011			2010			2009
Balance, January 1 (excluding interest and penalties of $7,099, $7,247 and $5,467, respectively)	$	58,605		$	60,558		$	46,725
Increases in gross unrecognized tax benefits relating to tax positions taken during:
Prior years		1,081			2,184			5,271
Current year		16,928			15,756			18,251
Decreases in gross unrecognized tax benefits relating to:
Tax positions taken during prior years		(5,133	)		(644	)		–
Settlements with tax authorities		-			(3,805	)		–
Lapse of the applicable statute of limitations		(9,281	)		(15,444	)		(9,689	)

Balance, December 31 (excluding interest and penalties of $8,454, $7,099 and $7,247, respectively)	$	62,200		$	58,605		$	60,558

Additional information with respect to unrecognized tax benefits is as follows:


	Year Ended December 31,
	2011		2010			2009
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $8,454, $7,099 and $7,247, respectively)	$	44,545	$	39,112		$	41,405
Offset to deferred tax assets for unrecognized tax benefits	$	26,109	$	26,592		$	26,400
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $1,785, $2,430 and $1,223, respectively)	$	1,355	$	(148	)	$	1,780

The Company anticipates that it is reasonably possible that the total amount of unrecognized tax benefits recorded at December 31, 2011 will decrease within 12 months by an amount up to approximately $10,000 as a result of the lapse of the statute of limitations in various tax jurisdictions.

Tax Receivable Agreement

The redemption of historical partner interests in connection with the Company's separation and recapitalization that occurred in May 2005 and the subsequent exchanges through December 31, 2011 of LAZ-MD Holdings exchangeable interests for shares of Class A common stock have resulted, and future exchanges of LAZ-MD Holdings exchangeable interests for shares of Class A common stock may result, in increases in the tax basis of the tangible and/or intangible assets of Lazard Group. Included in our deferred tax assets as of December 31, 2011 are approximately $709,000 related to certain basis step-up assets and approximately $137,000 of net operating losses generated by the amortization of such step-up assets. The tax receivable agreement dated as of May 10, 2005 with LFCM Holdings requires the Company to pay LFCM Holdings 85% of the cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Company actually realizes as a result of the above-mentioned increases in tax basis. During the years ended December 31, 2011, 2010 and 2009, the Company recorded a "provision (benefit) pursuant to tax receivable agreement" on the consolidated statements of operations of $429, $2,361 and $(1,258), respectively, with the liability related thereto at December 31, 2011 and 2010 of $2,790 and $2,361, respectively, included within "related party payables" on the consolidated statements of financial condition (see Note 21 of Notes to Consolidated Financial Statements). During the year ended December 31, 2009, the Company recorded a benefit related to the tax receivable agreement as a result of certain adjustments to previously recorded estimated provisions.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Net Income (Loss) Per Share Of Class A Common Stock [Abstract]

Net Income (Loss) Per Share Of Class A Common Stock

12 Months Ended

Dec. 31, 2011

Net Income (Loss) Per Share Of Class A Common Stock

20.

NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK

The Company's basic and diluted net income (loss) per share calculations for the years ended December 31, 2011, 2010 and 2009 are computed as described below.

Basic Net Income (Loss) Per Share

Numerator—utilizes net income (loss) attributable to Lazard Ltd for the respective years, plus applicable adjustments to such net income (loss) associated with the inclusion of shares of Class A common stock issuable on a non-contingent basis.

Denominator—utilizes the weighted average number of shares of Class A common stock outstanding for the respective years, plus applicable adjustments to such shares associated with shares of Class A common stock issuable on a non-contingent basis.

Diluted Net Income (Loss) Per Share

Numerator—utilizes net income (loss) attributable to Lazard Ltd for the respective years as in the basic net income (loss) per share calculation described above, plus, to the extent applicable and dilutive, (i) interest expense on convertible debt, (ii) changes in net income (loss) attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt and convertible preferred stock and, on an "as-if-exchanged" basis, amounts applicable to LAZ-MD Holdings exchangeable interests and (iii) income tax related to (i) and (ii) above.

Denominator—utilizes the weighted average number of shares of Class A common stock outstanding for the respective years as in the basic net income (loss) per share calculation described above, plus, to the extent dilutive, the incremental number of shares of Class A common stock to settle share-based incentive compensation, convertible debt, convertible preferred stock and LAZ-MD Holdings exchangeable interests, using the "treasury stock" method, the "if converted" method or the "as-if-exchanged" basis, as applicable.

The calculations of the Company's basic and diluted net income (loss) per share and weighted average shares outstanding for the years ended December 31, 2011, 2010 and 2009 are presented below:


	Year Ended December 31,
	2011		2010		2009
Net income (loss) attributable to Lazard Ltd		$174,917		$174,979		$(130,242	)
Add (deduct) - adjustment associated with Class A common stock issuable on a non-contingent basis		284		251		(1,292	)

Net income (loss) attributable to Lazard Ltd - basic		175,201		175,230		(131,534	)
Add - dilutive effect, as applicable, of:
Adjustments to income relating to interest expense and changes in net income (loss) attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests, net of tax		12,512		13,689		–

Net income (loss) attributable to Lazard Ltd - diluted	$	187,713		$188,919		$(131,534	)


Weighted average number of shares of Class A common stock outstanding		115,005,676		101,607,301		75,220,897
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		3,026,344		2,803,952		3,091,050

Weighted average number of shares of Class A common stock outstanding - basic		118,032,020		104,411,253		78,311,947
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests		19,597,505		34,058,401		–

Weighted average number of shares of Class A common stock outstanding - diluted		137,629,525		138,469,654		78,311,947

Net income (loss) attributable to Lazard Ltd per share of Class A common stock:
Basic		$1.48		$1.68		$(1.68	)

Diluted		$1.36		$1.36		$(1.68	)

Related Parties

12 Months Ended

Dec. 31, 2011

Related Parties [Abstract]

Related Parties

21.

RELATED PARTIES

Amounts receivable from, and payable to, related parties are set forth below:


	December 31,
	2011		2010
Receivables
LFCM Holdings	$	14,790	$	24,785
Other		3,711		89

Total	$	18,501	$	24,874

Payables
LFCM Holdings	$	4,850	$	2,819
Other		1,225		–

Total	$	6,075	$	2,819

LFCM Holdings

LFCM Holdings owns and operates the capital markets business and fund management activities, as well as other specified non-operating assets and liabilities, that were transferred to it by Lazard Group (referred to as the "separated businesses") in May 2005 and is owned by various current and former working members, including certain of Lazard's current and former managing directors (which also include certain of the Company's executive officers) who were or are also members of LAZ-MD Holdings. In addition to the master separation agreement, dated as of May 10, 2005, by and among Lazard Ltd, Lazard Group, LAZ-MD Holdings and LFCM Holdings (the "master separation agreement"), which effected the separation and recapitalization that occurred in May 2005, LFCM Holdings entered into an insurance matters agreement and a license agreement that addressed various business matters associated with the separation, as well as several other agreements discussed below.

Under the employee benefits agreement, dated as of May 10, 2005, by and among Lazard Ltd, Lazard Group, LAZ-MD Holdings and LFCM Holdings, LFCM Holdings generally assumed, as of the completion of the separation and recapitalization transactions, all outstanding and future liabilities in respect of the current and former employees of the separated businesses. The Company retained all accrued liabilities under, and assets of, the pension plans in the U.S. and the U.K. as well as the 401(k) plan accounts of the inactive employees of LFCM Holdings and its subsidiaries.

Pursuant to the administrative services agreement, dated as of May 10, 2005, by and among LAZ-MD Holdings, LFCM Holdings and Lazard Group (the "administrative services agreement"), Lazard Group provides selected administrative and support services to LAZ-MD Holdings and LFCM Holdings, such as cash management and debt service administration, accounting and financing activities, tax, payroll, human resources administration, financial transaction support, information technology, public communications, data processing, procurement, real estate management and other general administrative functions. Lazard Group charges for these services based on Lazard Group's cost allocation methodology.

The services provided pursuant to the administrative services agreement by Lazard Group to LFCM Holdings, and by LFCM Holdings to Lazard Group, are subject to automatic annual renewal, unless either party gives 180 days' notice of termination. LFCM Holdings and Lazard Group have a right to terminate the services earlier if there is a change of control of either party or the business alliance provided in the business alliance agreement entered into on May 10, 2005, by and among LAZ-MD Holdings, LFCM Holdings and Lazard Group (the "business alliance agreement") (described below) expires or is terminated. The party receiving a service may also terminate a service earlier upon 180 days' notice as long as the receiving party pays the service provider an additional three months of service fee for the terminated service. In addition, in connection with the various agreements entered into regarding the CP II MgmtCo Spin-Off described below, Lazard Group agreed to provide certain specified services to LFCM Holdings (which, in turn, LFCM Holdings may provide to its subsidiary, CP II MgmtCo ("CP II MgmtCo")).

The business alliance agreement provides, among other matters, that Lazard Group will refer to LFCM Holdings selected opportunities for underwriting and distribution of securities. In addition, Lazard Group will provide assistance in the execution of any such referred business. In exchange for the referral obligation and assistance, Lazard Group will receive a referral fee from LFCM Holdings equal to approximately one-half of the revenue obtained by LFCM Holdings in respect of any underwriting or distribution opportunity. In addition, LFCM Holdings will refer opportunities in the Financial Advisory and Asset Management businesses to Lazard Group. In exchange for this referral, LFCM Holdings will be entitled to a customary finders' fee from Lazard Group. The business alliance agreement further provides that, during the term of the business alliance, LFNY and Lazard Asset Management Securities LLC, an indirect wholly-owned subsidiary of LFNY, will introduce execution and settlement transactions to broker-dealer entities affiliated with LFCM Holdings. The business alliance agreement is subject to periodic automatic renewal, unless Lazard Group or LFCM Holdings elects to terminate the agreement in connection with any such renewal or elects to terminate on account of a change of control of either party.

For the years ended December 31, 2011, 2010 and 2009, amounts recorded by Lazard Group relating to the administrative services agreement amounted to $10,277, $12,110 and $9,717, respectively, and net referral fees for underwriting, private placement, M&A and restructuring transactions under the business alliance agreement amounted to $18,862, $11,506 and $12,301, respectively. Amounts relating to the administrative services agreement are reported as reductions to operating expenses. Net referral fees for underwriting transactions under the business alliance agreement are reported in "revenue-other". Net referral fees for private placement, M&A and restructuring transactions under the business alliance agreement are reported in advisory fee revenue.

Receivables from LFCM Holdings and its subsidiaries as of December 31, 2011 and 2010 primarily include $10,722 and $12,775, respectively, related to administrative and support services and reimbursement of expenses incurred on behalf of LFCM Holdings, and $2,928 and $11,413, respectively, related to referral fees for underwriting and private placement transactions. Payables to LFCM Holdings and its subsidiaries at December 31, 2011 and 2010 relate primarily to obligations pursuant to the tax receivable agreement of $2,790 and $2,361, respectively (see Note 19 of Notes to Consolidated Financial Statements) and $2,060 and $458, respectively, principally relating to certain advances and referral fees for Financial Advisory transactions.

Other

For the years ended December 31, 2011 and 2010, amounts recorded by Lazard Group relating to referral fees for restructuring transactions and fee sharing with MBA Lazard Holdings S.A. Group ("MBA"), an Argentina-based group in which the Company has a 50% ownership interest, amounted to $1,866 and $128, respectively, and are reported in advisory fee revenue. There were no such amounts for the year ended December 31, 2009.

Other receivables at December 31, 2011 and 2010 and payables at December 31, 2011 primarily relate to referral fees for restructuring and M&A transactions with MBA and, in 2011, a related party loan.

LAZ-MD Holdings

Lazard Group provides selected administrative and support services to LAZ-MD Holdings through the administrative services agreement as discussed above, with such services generally to be provided until December 31, 2014 unless terminated earlier because of a change in control of either party. Lazard Group charges LAZ-MD Holdings for these services based on Lazard Group's cost allocation methodology and, for the years ended December 31, 2011, 2010 and 2009, such charges amounted to $750 in each year.

Lazard Alternative Investments

The business alliance agreement, among other things, granted Lazard Group the option to acquire the North American and European fund management activities of Lazard Alternative Investments Holdings LLC ("LAI"), the subsidiary of LFCM Holdings that owns and operates LFCM Holdings' alternative investment (including private equity) activities, for an aggregate purchase price of $8,000 and $2,000, respectively. On December 15, 2009, Lazard Group exercised its option to acquire the European fund management activities of LAI for a purchase price of $2,000. LAI's fund management activities consist of the fund management and general partner entities, together with Lazard Group's direct investments in related funds that were transferred to LFCM Holdings pursuant to or in anticipation of the May 10, 2005 separation (the "separation") from the Company of its former Capital Markets and Other business segment.

The business alliance agreement provides Lazard Group with certain governance rights with respect to LAI and provides for support by LFCM Holdings of the business of LAI. With respect to historical investments and funds transferred to LFCM Holdings as part of the separation, profits realized prior to the exercise of the option are for the account of LFCM Holdings, whereas profits realized after the exercise of the option are for the account of Lazard Group. The master separation agreement and business alliance agreement provide for Lazard Group (i) to invest capital in future funds to be managed by LFCM Holdings' subsidiaries and (ii) to receive incentive distributions from such funds, as well as profits related to such investments, if any, irrespective of whether it exercises its purchase option.

In February 2005, Lazard Group formed CP II, with institutional and Lazard Group capital commitments which required funding at any time through 2010, except for potential follow-on investments and/or CP II expenses. As of December 31, 2011, Lazard Group's investment in CP II amounted to $31,533 which is recorded within "investments - other - private equity" on the consolidated statement of financial condition. Pursuant to the master separation agreement and business alliance agreement, CP II was managed by CP II MgmtCo, and Lazard Group is entitled to receive the carried interest distributions made by CP II (other than the carried interest distributions made to investment professionals who manage the fund).

In February 2009, pursuant to agreements entered into by the Company with a subsidiary of LAI ("LAI North America"), LFCM Holdings and the investment professionals who manage CP II, equity ownership of CP II MgmtCo was transferred from LAI North America to the investment professionals who manage CP II (the "CP II MgmtCo Spin-Off"). Concurrently with the CP II MgmtCo Spin-Off, CP II MgmtCo became a standalone entity. In addition, in connection with a February 2009 $4,000 cash payment from Lazard Group to LFCM Holdings relating to the CP II MgmtCo Spin-Off, the business alliance agreement was amended to remove any restriction on the Company engaging in private equity businesses in North America other than certain investments in real estate and technology and information services. Such amendment reduced the then purchase price relating to our option to acquire the fund management activities of LAI in North America from $6,500 to $2,500. As part of the CP II MgmtCo Spin-Off, we retained our entitlement to receive a slightly reduced portion of the carried interest distributions made by CP II.

The remaining option to purchase the North American fund management activities is currently exercisable at any time prior to May 10, 2014, for a purchase price of $2,500 as described above. The reduced price for the North American option reflects (i) a reduction of $1,500 due to the payment of a like amount in February 2008 to LFCM Holdings in connection with the Sapphire IPO, whereby LFCM Holdings agreed not to assert certain claims that it may believe that it had under the business alliance agreement and (ii) the $4,000 payment described above.

During the fourth quarter of 2011, the Company determined that it was unlikely to exercise the North American option. Accordingly, during such period the Company wrote-off the $5,500 capitalized cost associated with the option which is included within "other" operating expenses on the consolidated statement of operations.

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 850
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-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Regulatory Authorities

12 Months Ended

Dec. 31, 2011

Regulatory Authorities [Abstract]

Regulatory Authorities

22.

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 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 $100, whichever is greater. At December 31, 2011, LFNY's regulatory net capital was $100,819, which exceeded the minimum requirement by $93,184.

Certain U.K. subsidiaries of the Company, including LCL, Lazard Fund Managers Limited and Lazard Asset Management Limited (the "U.K. Subsidiaries") are authorized and regulated by the Financial Services Authority. At December 31, 2011, the aggregate regulatory net capital of the U.K. Subsidiaries was $149,345, which exceeded the minimum requirement by $137,437.

CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel for its banking activities conducted through its subsidiary, LFB. In addition, the investment services activities of the Paris group, exercised through LFB and other subsidiaries of CFLF, primarily LFG (asset management), are subject to regulation and supervision by the Autorité des Marchés Financiers. At December 31, 2011, the consolidated regulatory net capital of CFLF was $175,781, which exceeded the minimum requirement set for regulatory capital levels by $81,099.

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, 2011, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $96,255, which exceeded the minimum required capital by $71,592.

At December 31, 2011, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

Lazard Ltd had been subject to supervision by the SEC as a Supervised Investment Bank Holding Company ("SIBHC"). As a SIBHC, Lazard Ltd was subject to group-wide supervision, which required it to compute allowable capital and risk allowances on a consolidated basis. However, pursuant to Section 617 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"), the SEC's SIBHC program was eliminated on July 21, 2011. Pursuant to relevant rules in the European Union, Lazard Ltd is required to be supervised by another regulatory body, either in the U.S. or the European Union. The Dodd-Frank Act allows certain securities holding companies seeking consolidated supervision, including Lazard Ltd, to elect to be supervised by the Board of Governors of the Federal Reserve. Lazard Ltd anticipates that the Board of Governors of the Federal Reserve will adopt regulations pursuant to Section 618 of the Dodd-Frank Act in the near future for companies that seek to come under its consolidated supervision. Once it analyzes the final scope of such regulations, Lazard Ltd will determine whether it will elect to register to come under the consolidated supervision of the Federal Reserve. Until such regulations are adopted, however, we cannot determine the full impact of such regulations on us. The Dodd-Frank Act and the rules and regulations that may be adopted thereunder (including regulations that have not yet been proposed) could have other effects on us. We continue to monitor the process as such rules are proposed and adopted.

The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Audit and Accounting Guide (AAG)
-Number AAG-DEP
-Chapter 17
-Paragraph 15, 16, 17
-IssueDate 2006-05-01
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6918689&loc=SL5958568-112826

Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information

23.

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 two business segments as described in Note 1 above - Financial Advisory and Asset Management. In addition, as described in Note 1 above, the Company records selected other activities in its Corporate segment.

The Company's segment information for the years ended December 31, 2011, 2010 and 2009 is prepared using the following methodology:

•

Revenue and expenses directly associated with each segment are included in determining operating income.

•

Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including headcount, square footage and other factors.

•

Segment assets are based on those directly associated with each segment, and include an allocation of certain assets relating to various segments, based on the most relevant measures applicable, including headcount, square footage and other factors.

The Company allocates investment gains and losses, interest income and interest expense among the various segments based on the segment in which the underlying asset or liability is reported.

Each segment's operating expenses include (i) compensation and benefits expenses incurred directly in support of the businesses and (ii) other operating expenses, which include directly incurred expenses for occupancy and equipment, marketing and business development, technology and information services, professional services, fund administration and outsourced services and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, legal, facilities management and senior management activities.

There were no clients for the years ended December 31, 2011, 2010 and 2009 that individually 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 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:


		As Of Or For The Year Ended December 31,
		2011			2010			2009
Financial Advisory	Net Revenue	$	992,107		$	1,119,867		$	986,820
	Operating Expenses (a)		929,688			950,968			998,727

	Operating Income (Loss)	$	62,419		$	168,899		$	(11,907	)

	Total Assets	$	767,699		$	799,090		$	706,785


Asset Management	Net Revenue	$	897,401		$	849,662		$	601,652
	Operating Expenses (a)		628,945			584,348			504,452

	Operating Income	$	268,456		$	265,314		$	97,200

	Total Assets	$	583,524		$	687,323		$	702,775


Corporate	Net Revenue	$	(59,996	)	$	(64,161	)	$	(57,954	)
	Operating Expenses (a)		35,380			126,402			209,573

	Operating Loss	$	(95,376	)	$	(190,563	)	$	(267,527	)

	Total Assets	$	1,730,713		$	1,936,119		$	1,738,202


Total	Net Revenue	$	1,829,512		$	1,905,368		$	1,530,518
	Operating Expenses (a)		1,594,013			1,661,718			1,712,752

	Operating Income (Loss)	$	235,499		$	243,650		$	(182,234	)

	Total Assets	$	3,081,936		$	3,422,532		$	3,147,762

(a)	Operating expenses include depreciation and amortization of property as set forth in table below.


	Year Ended December 31,
	2011		2010		2009
Financial Advisory	$	6,739	$	6,718	$	5,933
Asset Management		3,502		3,693		3,557
Corporate		14,339		12,301		13,051

Total	$	24,580	$	22,712	$	22,541

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. Accordingly, management believes that profitability by geographic region is not necessarily meaningful. The Company's revenue and identifiable 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 identifiable assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above.


	As Of Or For The Year Ended December 31,
	2011			2010			2009
Net Revenue:
United States	$	1,083,457		$	1,161,071		$	803,859
United Kingdom		190,307			215,243			191,521
France		234,441			261,085			247,510
Other Western Europe		174,284			141,343			175,231
Rest of World		147,023			126,626			112,397

Total	$	1,829,512		$	1,905,368		$	1,530,518

Operating Income (Loss):
United States	$	209,236		$	223,341		$	(155,645	)
United Kingdom		(18,074	)		4,867			(11,485	)
France		8,262			23,092			(9,143	)
Other Western Europe		27,276			(9,838	)		(3,071	)
Rest of World		8,799			2,188			(2,890	)

Total	$	235,499		$	243,650		$	(182,234	)

Identifiable Assets:
United States	$	1,630,547		$	1,821,992		$	1,589,720
United Kingdom		253,365			324,309			277,751
France		773,196			883,932			908,137
Other Western Europe		116,682			141,216			159,525
Rest of World		308,146			251,083			212,629

Total	$	3,081,936		$	3,422,532		$	3,147,762

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Financial Information - Quarterly Results [Abstract]

Supplemental Financial Information - Quarterly Results

12 Months Ended

Dec. 31, 2011

Supplemental Financial Information - Quarterly Results

SUPPLEMENTAL FINANCIAL INFORMATION

QUARTERLY RESULTS (UNAUDITED)

The following represents the Company's unaudited quarterly results for the years ended December 31, 2011 and 2010. These quarterly results were prepared in conformity with generally accepted accounting principles and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature.


	2011 Fiscal Quarter
	First			Second		Third		Fourth			Year
	(dollars in thousands, except per share data)
Net revenue	$	438,023		$	477,292	$	462,419	$	451,778		$	1,829,512
Operating expenses		364,577			388,090		374,681		466,665			1,594,013

Operating income (loss)	$	73,446		$	89,202	$	87,738	$	(14,887	)	$	235,499

Net income (loss)	$	59,983		$	71,566	$	67,133	$	(8,123	)	$	190,559
Less - net income (loss) attributable to noncontrolling interests		4,976			9,562		4,434		(3,330	)		15,642

Net income (loss) attributable to Lazard Ltd	$	55,007		$	62,004	$	62,699	$	(4,793	)	$	174,917

Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$0.48			$0.52		$0.53		$(0.04	)		$1.48
Diluted		$0.43			$0.48		$0.49		$(0.04	)		$1.36
Dividends declared per share of common stock		$0.125			$0.16		$0.16		$0.16			$0.605

	2010 Fiscal Quarter
	First			Second		Third		Fourth			Year
	(dollars in thousands, except per share data)
Net revenue	$	438,211		$	419,035	$	453,237	$	594,885		$	1,905,368
Operating expenses		472,692			351,984		373,770		463,272			1,661,718

Operating income (loss)	$	(34,481	)	$	67,051	$	79,467	$	131,613		$	243,650

Net income (loss)	$	(40,894	)	$	53,528	$	70,354	$	111,435		$	194,423
Less - net income (loss) attributable to noncontrolling interests		(7,360	)		8,956		6,263		11,585			19,444

Net income (loss) attributable to Lazard Ltd	$	(33,534	)	$	44,572	$	64,091	$	99,850		$	174,979

Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$(0.38	)		$0.43		$0.58		$0.88			$1.68
Diluted		$(0.38	)		$0.39		$0.51		$0.77			$1.36
Dividends declared per share of common stock		$0.125			$0.125		$0.125		$0.125			$0.50

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

Schedule I Condensed Financial Information Of Registrant (Parent Company) [Abstract]

Schedule I Condensed Financial Information Of Registrant (Parent Company)

12 Months Ended

Dec. 31, 2011

Schedule I Condensed Financial Information Of Registrant (Parent Company)

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF FINANCIAL CONDITION

DECEMBER 31, 2011 AND 2010

(dollars in thousands, except per share data)


	December 31,
	2011			2010
ASSETS
Cash and cash equivalents	$	218		$	210
Investments in subsidiaries, equity method		(1,633,687	)		(1,835,651	)
Due from subsidiaries		2,359,798			2,488,286

Total assets	$	726,329		$	652,845


LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Due to subsidiaries	$	–		$	277
Other liabilities		186			170

Total liabilities		186			447

Commitments and contingencies

STOCKHOLDERS' EQUITY
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Series A—7,921 and 22,021 shares issued and outstanding at December 31, 2011 and 2010, respectively		–			–
Series B—no shares issued and outstanding		–			–
Common stock:
Class A, par value $.01 per share (500,000,000 shares authorized; 123,009,311 and 119,697,936 shares issued at December 31, 2011 and 2010, respectively, including shares held by subsidiaries as indicated below)		1,230			1,197
Class B, par value $.01 per share (1 share authorized, issued and outstanding at December 31, 2011 and 2010)		–			–
Additional paid-in-capital		659,013			758,841
Retained earnings		258,646			166,468
Accumulated other comprehensive loss, net of tax		(88,364	)		(46,158	)

		830,525			880,348
Class A common stock held by subsidiaries, at cost (3,492,017 and 6,847,508 shares at December 31, 2011 and 2010, respectively)		(104,382	)		(227,950	)

Total stockholders' equity		726,143			652,398

Total liabilities and stockholders' equity	$	726,329		$	652,845

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

(dollars in thousands)


	Year Ended December 31,
	2011		2010		2009
REVENUE
Equity in earnings (losses) of subsidiaries	$	109,294	$	109,576	$	(193,493	)
Interest and other income		67,042		66,722		64,886

Total revenue		176,336		176,298		(128,607	)

OPERATING EXPENSES
Professional services		1,276		1,217		1,504
Other		143		102		131

Total operating expenses		1,419		1,319		1,635

NET INCOME (LOSS)	$	174,917	$	174,979	$	(130,242	)

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

(dollars in thousands)


	Year Ended December 31,
	2011			2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	174,917		$	174,979		$	(130,242	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Noncash items included in net income (loss):
Equity in (earnings) losses of subsidiaries		(109,294	)		(109,576	)		193,493
Amortization of share-based incentive compensation		–			–			1,316
Changes in due to/from subsidiaries		4,945			(16,215	)		(31,354	)
Changes in other operating assets and liabilities		12			(83	)		174

Net cash provided by operating activities		70,580			49,105			33,387

CASH FLOWS FROM FINANCING ACTIVITIES:
Class A common stock dividends		(70,572	)		(50,581	)		(33,451	)
Other financing activities		–			–			(51	)

Net cash used in financing activities		(70,572	)		(50,581	)		(33,502	)

Net increase (decrease) in cash and cash equivalents		8			(1,476	)		(115	)
Cash and cash equivalents, January 1		210			1,686			1,801

Cash and cash equivalents, December 31	$	218		$	210		$	1,686

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Supplemental investing non-cash transaction:
Class A common stock issued/issuable in connection with business acquisitions	$	39,654		$	41,174		$	10,946

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

(dollars in thousands)


	Series A Preferred Stock					Common Stock				Additional Paid-In- Capital			Retained Earnings			Accumulated Other Comprehensive Loss, Net of Tax			Class A Common Stock Held By Subsidiaries						Total Lazard Ltd Stockholders' Equity
	Series A Preferred Stock					Common Stock													Class A Common Stock Held By Subsidiaries
	Shares			$		*Shares()**		$											Shares			$
Balance – January 1, 2009		31,745		$	–		76,294,913	$	763	$	429,694		$	221,410		$	(79,435	)		9,376,162		$	(321,852	)	$	250,580

Comprehensive income (loss):
Net loss														(130,242	)											(130,242	)
Other comprehensive income (loss) - net of tax:
Currency translation adjustments																	37,355									37,355
Amortization of interest rate hedge																	803									803
Available-for-sale securities:
Net unrealized gain																	20,575									20,575
Adjustment for items reclassified to earnings																	945									945
Employee benefit plans:
Prior service costs																	(11,290	)								(11,290	)
Net actuarial loss																	(13,573	)								(13,573	)
Adjustment for items reclassified to earnings																	2,260									2,260

Comprehensive loss																										(93,167	)

Business acquisitions:
Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)							1,473,866		15		28,126															28,141
Conversion of Series A preferred stock into Class A common stock		(4,862	)		–		479,732		5		(5	)														–
Amortization of share-based incentive compensation											268,129															268,129
Dividend-equivalents											4,951			(4,991	)											(40	)
Class A common stock dividends														(33,451	)											(33,451	)
Purchase of Class A common stock																				1,984,997			(50,479	)		(50,479	)
Delivery of Class A common stock in connection with share-based incentive compensation											(194,670	)								(5,510,384	)		181,191			(13,479	)
Repurchase of common membership interests from LAZ-MD Holdings											(9,900	)														(9,900	)
Class A common stock issued in exchange for Lazard Group common membership interests, including in connection with secondary offerings							13,917,402		139		(139	)														–
Adjustments related to noncontrolling interests											23,745						(14,688	)								9,057

Balance – December 31, 2009		26,883		$	–		92,165,913	$	922	$	549,931		$	52,726		$	(57,048	)		5,850,775		$	(191,140	)	$	355,391

Balance – January 1, 2010		26,883		$	–		92,165,913	$	922	$	549,931		$	52,726		$	(57,048	)		5,850,775		$	(191,140	)	$	355,391

Comprehensive income (loss):
Net income														174,979												174,979
Other comprehensive income (loss) - net of tax:
Currency translation adjustments																	(8,937	)								(8,937	)
Amortization of interest rate hedge																	1,093									1,093
Available-for-sale securities:
Net unrealized gain																	2,941									2,941
Adjustment for items reclassified to earnings																	8,930									8,930
Employee benefit plans:
Net actuarial gain																	16,769									16,769
Adjustment for items reclassified to earnings																	1,544									1,544

Comprehensive income																										197,319

Business acquisitions:
Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)							315,617		3		46,220															46,223
Conversion of Series A preferred stock into Class A common stock		(4,862	)				572,988		6		(6	)														–
Amortization of share-based incentive compensation											286,957															286,957
Dividend-equivalents											10,606			(10,656	)											(50	)
Class A common stock dividends														(50,581	)											(50,581	)
Purchase of Class A common stock																				4,686,892			(149,981	)		(149,981	)
Delivery of Class A common stock in connection with share-based incentive compensation											(286,847	)								(6,690,159	)		229,271			(57,576	)
Repurchase of common membership interests from LAZ-MD Holdings											(6,812	)														(6,812	)
Issuance of Class A common stock							3,000,000		30		116,070									3,000,000			(116,100	)		–
Class A common stock issued in exchange for Lazard Group common membership interests, including in connection with secondary offerings							23,643,419		236		(236	)														–
Adjustments related to noncontrolling interests											42,958						(11,450	)								31,508

Balance – December 31, 2010		22,021		$	–		119,697,937	$	1,197	$	758,841		$	166,468		$	(46,158	)		6,847,508		$	(227,950	)	$	652,398

Balance – January 1, 2011		22,021		$	–		119,697,937	$	1,197	$	758,841		$	166,468		$	(46,158	)		6,847,508		$	(227,950	)	$	652,398

Comprehensive income (loss):
Net income														174,917												174,917
Other comprehensive income (loss) - net of tax:
Currency translation adjustments																	(8,760	)								(8,760	)
Amortization of interest rate hedge																	1,000									1,000
Employee benefit plans:
Net actuarial loss																	(36,256	)								(36,256	)
Adjustments for items reclassified to earnings																	2,091									2,091

Comprehensive income																										132,992

Business acquisitions:
Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)											41,800															41,800
Conversion of Series A preferred stock into Class A common stock		(14,100	)		–		2,434,561		24		(24	)														–
Delivery of Class A common stock (including in connection with LAM Merger)											(126,812	)								(3,515,362	)		123,411			(3,401	)
Amortization of share-based incentive compensation											260,816															260,816
Dividend-equivalents											12,092			(12,167	)											(75	)
Class A common stock dividends														(70,572	)											(70,572	)
Purchase of Class A common stock																				6,135,189			(204,835	)		(204,835	)
Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits of $972											(297,779	)								(5,975,318	)		204,992			(92,787	)
Repurchase of common membership interests from LAZ-MD Holdings											(753	)														(753	)
Class A common stock issued in exchange for Lazard Group common membership interests							876,814		9		(9	)														–
Adjustment related to the change in Lazard Ltd's ownership in Lazard Group											(1,580	)														(1,580	)
Distributions to noncontrolling interests, net																										–
Adjustments related to noncontrolling interests											12,421						(281	)								12,140

Balance – December 31, 2011		7,921		$	–		123,009,312	$	1,230	$	659,013		$	258,646		$	(88,364	)		3,492,017		$	(104,382	)	$	726,143

^(*)	Includes 92,165,912, 119,697,936 and 123,009,311 shares of the Company's Class A common stock issued at December 31, 2009, 2010 and 2011, respectively, and 1 share of the Company's Class B common stock at each such date.

See notes to condensed consolidated financial statements.

LAZARD LTD

(parent company only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1.	*BASIS OF PRESENTATION*

The accompanying Lazard Ltd condensed financial statements (the "Parent Company Financial Statements"), including the notes thereto, should be read in conjunction with the consolidated financial statements of Lazard Ltd and its subsidiaries (the "Company") and the notes thereto.

The Parent Company Financial Statements as of December 31, 2011 and 2010, and for each of the three years in the period ended December 31, 2011, are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and the disclosures in the condensed financial statements. Management believes that the estimates utilized in the preparation of the condensed financial statements are reasonable. Actual results could differ materially from these estimates.

The Parent Company Financial Statements include investments in subsidiaries, accounted for under the equity method.

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

Significant Accounting Policies [Abstract]

Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2011

Foreign Currency Translation

Use Of Estimates

Use of Estimates—In preparing the consolidated financial statements, management makes estimates and assumptions regarding:

•

the adequacy of the allowance for doubtful accounts;

•

the realization of deferred taxes and adequacy of tax reserves for uncertain tax positions;

•

the outcome of litigation;

•

the carrying amount of goodwill and other intangible assets;

•

the amortization period of intangible assets;

•

the valuation of shares issued or issuable that contain transfer restrictions;

•

share-based and other deferred compensation plan forfeitures, and;

•

other matters that affect the reported amounts and disclosure of contingencies in the consolidated financial statements.

Cash And Cash Equivalents

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

Cash Deposited With Clearing Organizations And Other Segregated Cash

Allowance For Doubtful Accounts

See Note 4 of Notes to Consolidated Financial Statements for additional information regarding receivables.

Investments

See Notes 5 and 6 of Notes to Consolidated Financial Statements for additional information regarding the Company's investments.

Property-Net

Goodwill And Other Intangible Assets

See Note 11 of Notes to Consolidated Financial Statements with respect to goodwill and other intangible assets.

Derivative Instruments

Deposits And Other Customer Payables

Securities Sold, Not Yet Purchased

Fair Value Of Financial Assets And Liabilities

<div> <p style="margin-top: 12px; text-indent: 32px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Fair Value of Financial Assets and Liabilities—</i></b>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, cash deposited with clearing organizations and other segregated cash, receivables, investments (excluding investments accounted for at amortized cost, interest-bearing deposits or using the equity method of accounting), derivative instruments and deposits and other customer payables. For information regarding the fair value of the Company's senior and subordinated debt, see Note 13 of Notes to Consolidated Financial Statements. </font></p></div>

Revenue Recognition

Revenue Recognition

Receivables relating to money management and incentive fees are reported in "fees receivable" on the consolidated statements of financial condition.

Share-Based Incentive Compensation Awards

Income Taxes

•

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 positive and negative evidence, including, but not limited to, the following:

•

nature, frequency, and severity of any recent losses;

•

duration of statutory carryforward periods;

•

historical experience with tax attributes expiring unused; and

•

near- and medium-term financial outlook.

Investments (Tables)

12 Months Ended

Dec. 31, 2011

Investments [Abstract]

Company's Investments And Securities Sold, Not Yet Purchased


	December 31,
	2011		2010
Debt:
U.S. Government and agencies	$	1,260	$	31,900
Non-U.S. Government and other debt and interest-bearing deposits		35,706		29,693

		36,966		61,593

Equities (a)		156,053		88,437

Other:
Interests in alternative asset management funds (a)		20,610		58,656
Fixed income funds (a)		31,121		33,951
Private equity		122,718		163,482
Equity method investments		11,053		11,291

		185,502		267,380

Total investments		378,521		417,410
Less:
Interest-bearing deposits		2,834		7,754
Equity method investments		11,053		11,291

Investments, at fair value	$	364,634	$	398,365

Securities sold, not yet purchased, at fair value (included in "other liabilities")	$	4,282	$	2,897

(a)

Gross Investment Gains And Losses On Investments


	Year Ended December 31,
	2011		2010		2009
Gross investment gains	$	14,632	$	45,503	$	53,319
Gross investment losses	$	22,376	$	19,703	$	19,740

Gross Unrealized Investment Gains And Losses Pertaining To "Trading" Securities



	Year Ended December 31,
	2011		2010		2009
Gross unrealized investment gains	$	683	$	78	$	3,723
Gross unrealized investment losses	$	1,135	$	512	$	–

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Measurements [Abstract]

Categorization Of Investments And Certain Other Assets And Liabilities Measured At Fair Value On Recurring Basis


	As of December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt:
U.S. Government and agencies	$	1,260	$	–	$	–	$	1,260
Non-U.S. Government and other debt (excluding interest-bearing deposits)		15,851		17,021		–		32,872
Equities		115,380		37,332		3,341		156,053
Other (excluding equity method investments):
Interest in alternative asset management funds		–		13,569		7,041		20,610
Fixed income funds		27,539		3,582		–		31,121
Private equity		–		–		122,718		122,718
Derivatives		–		7,131		–		7,131

Total Assets	$	160,030	$	78,635	$	133,100	$	371,765

Liabilities:
Securities sold, not yet purchased	$	4,282	$	–	$	–	$	4,282
Derivatives		–		30,713		–		30,713

Total Liabilities	$	4,282	$	30,713	$	–	$	34,995


	December 31, 2010
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt:
U.S. Government and agencies	$	31,900	$	–	$	–	$	31,900
Non-U.S. Government and other debt (excluding interest-bearing deposits)		21,939		–		–		21,939
Equities		66,269		21,852		316		88,437
Other (excluding equity method investments):
Interest in alternative asset management funds		–		58,656		–		58,656
Fixed income funds		–		33,951		–		33,951
Private equity		–		–		163,482		163,482
Derivatives		–		1,874		–		1,874

Total Assets	$	120,108	$	116,333	$	163,798	$	400,239

Liabilities:
Securities sold, not yet purchased	$	2,897	$	–	$	–	$	2,897
Derivatives		–		3,230		–		3,230

Total Liabilities	$	2,897	$	3,230	$	–	$	6,127

Summary Of Changes In Fair Value Of The Company's Level 3 Assets


	Year Ended December 31, 2011
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	316	$	72		$	3,155	$	(195	)	$	(7	)	$	3,341
Interest in alternative asset management funds		–		(169	)		7,210		–			–			7,041
Private equity		163,482		(3,319	)		33,117		(69,218	)		(1,344	)		122,718

Total Level 3 Assets	$	163,798	$	(3,416	)	$	43,482	$	(69,413	)	$	(1,351	)	$	133,100


	Year Ended December 31, 2010
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue-Other		Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	305	$	6	$	14	$	–		$	(9	)	$	316
Private equity		135,914		8,646		34,288		(11,985	)		(3,381	)		163,482

Total Level 3 Assets	$	136,219	$	8,652	$	34,302	$	(11,985	)	$	(3,390	)	$	163,798


	Year Ended December 31, 2009
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue-Other			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
Investments:
Equities	$	2,453	$	(97	)	$	42	$	(2,093	)	$	–	$	305
Private equity		83,931		6,593			46,938		(3,087	)		1,539		135,914

Total Level 3 Assets	$	86,384	$	6,496		$	46,980	$	(5,180	)	$	1,539	$	136,219

Fair Value Of Certain Investments Based On NAV


								Estimated Liquidation Period of Investments Not Redeemable									Investments Redeemable
	Fair Value		Unfunded Commitments		% of Fair Value Not Redeemable			% Next 5 Years			% 5-10 Years			% Thereafter			Redemption Frequency	Redemption Notice Period
Equity funds	$	40,512	$	–		2	%		1	%		0	%		1	%	Quarterly	60 Days
Interests in alternative asset management funds		20,600		–		0	%		0	%		0	%		0	%	Quarterly	>90 Days
Fixed income funds		3,582		–		0	%		0	%		0	%		0	%	Monthly	60 Days
Private equity funds		121,276		52,197		100	%		33	%		28	%		39	%	NA

Total	$	185,970	$	52,197

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13537-108611

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13504-108611

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Fair Value Of Derivatives Reported On Consolidated Statements Of Financial Condition

Derivatives (Tables)

12 Months Ended

Dec. 31, 2011

Derivatives [Abstract]


	December 31,
	2011		2010
Derivative Assets:
Forward foreign currency exchange rate contracts	$	4,245	$	1,432
Interest rate swaps		1		57
Equity and fixed income swaps and other		2,885		385

	$	7,131	$	1,874

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	445	$	2,151
Interest rate swaps		277		326
Equity and fixed income swaps		91		753
Lazard Fund Interests and other similar deferred compensation arrangements		29,900		–

	$	30,713	$	3,230

Schedule Of Derivatives Not Designated As Hedging Instruments In Statements Of Operations Location


	Year Ended December 31,
	2011			2010			2009
Forward foreign currency exchange rate contracts	$	2,422		$	2,291		$	3,311
Interest rate swaps		(13	)		(294	)		625
Equity and fixed income swaps and other		4,289			(6,415	)		(13,810	)
Lazard Fund Interests and other similar deferred compensation arrangements		(3,024	)		–			–

	$	3,674		$	(4,418	)	$	(9,874	)

Property-Net (Tables)

12 Months Ended

Dec. 31, 2011

Property-Net [Abstract]

Property-Net


	Estimated Depreciable Life in Years		December 31,
	Estimated Depreciable Life in Years		2011		2010
Buildings		33	$	164,168	$	168,711
Leasehold improvements		5-20		159,191		156,250
Furniture and equipment		3-10		85,396		74,881
Construction in progress				26,347		1,580

Total				435,102		401,422
Less - Accumulated depreciation and amortization				266,673		250,898

Property-net			$	168,429	$	150,524

Goodwill And Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2011

Goodwill And Other Intangible Assets [Abstract]

Schedule Of Components Of Goodwill And Other Intangible Assets


	December 31,
	2011		2010
Goodwill	$	356,657	$	313,229
Other intangible assets (net of accumulated amortization)		36,442		48,210

	$	393,099	$	361,439

Schedule Of Changes In Carrying Amount Of Goodwill


	Year Ended December 31,
	2011		2010		2009
Balance, January 1	$	313,229	$	261,703	$	170,277
Business acquisitions, including additional contingent consideration earned relating thereto		42,566		41,174		70,965
Foreign currency translation adjustments		862		10,352		20,461

Balance, December 31	$	356,657	$	313,229	$	261,703

Schedule Of Gross Cost And Accumulated Amortization Of Other Intangibles


	December 31, 2011						December 31, 2010
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	7,122	$	23,618	$	30,740	$	890	$	29,850
Management fees, customer relationships and non-compete agreements		32,624		19,800		12,824		32,477		14,117		18,360

	$	63,364	$	26,922	$	36,442	$	63,217	$	15,007	$	48,210

Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense


Year Ending December 31,	Amortization Expense (a)
2012	$	5,397
2013		10,337
2014		8,332
2015		6,735
2016		5,641

Total amortization expense	$	36,442

(a)

Approximately 46% of intangible asset amortization is attributable to a noncontrolling interest.

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

Other Assets And Other Liabilities [Abstract]

Other Assets And Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Schedule Of Other Assets


	December 31,
	2011		2010
Current tax receivables and deferred tax assets (net of valuation allowance) and other taxes	$	129,254	$	123,813
Advances and prepayments		86,264		94,973
Deferred debt issuance costs		5,879		7,594
Other		50,701		38,930

Total	$	272,098	$	265,310

Schedule Of Other Liabilities


	December 31,
	2011		2010
Accrued expenses	$	150,282	$	136,666
Current and deferred income taxes and other taxes		112,691		113,159
Employee benefit-related liabilities		70,036		67,779
Unclaimed funds at LFB		27,281		28,026
Abandoned leased space (principally in the U.K.)		11,688		8,203
Securities sold, not yet purchased		4,282		2,897
LAM Merger (present value of unpaid cash consideration)		777		71,394
Other		63,094		85,286

Total	$	440,131	$	513,410

Senior And Subordinated Debt (Tables)

12 Months Ended

Dec. 31, 2011

Senior And Subordinated Debt [Abstract]

Schedule Of Senior Debt


	Initial Principal Amount		Maturity Date		Annual Interest Rate			Outstanding As Of December 31,
	Initial Principal Amount		Maturity Date		Annual Interest Rate			2011		2010
Lazard Group 7.125% Senior Notes (a)	$	550,000		5/15/15		7.125	%	$	528,500	$	528,500
Lazard Group 6.85% Senior Notes (b)		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group Credit Facility (c)		150,000		4/29/13		1.90	%		–		–

Total								$	1,076,850	$	1,076,850

(a)

(b)	During the year ended December 31, 2009, the Company repurchased $900 principal amount of the 6.85% Senior Notes, at a cost, excluding accrued interest, of $635, and, after the write-off of applicable unamortized debt issuance costs of $7, the Company recognized a pre-tax gain of $258.

(c)

Debt Maturities Relating To Senior Borrowings Outstanding


Year Ending December 31,
2012-2014	$	–
2015		528,500
2016		–
Thereafter		548,350

Total	$	1,076,850

Commitments And Contingencies (Tables)

12 Months Ended

Dec. 31, 2011

Commitments And Contingencies [Abstract]

Schedule Of Future Minimum Rental Payments For Operating Leases And Capital Leases


Year Ending December 31,	Minimum Rental Commitments
Year Ending December 31,	Capital		Operating
2012	$	3,672	$	57,201
2013		3,588		64,382
2014		3,076		69,634
2015		2,750		65,242
2016		2,431		63,767
Thereafter		8,893		746,829

Total minimum lease payments		24,410		1,067,055
Less amount representing interest		4,326

Present value of capital lease commitments	$	20,084

Sublease proceeds				167,124

Net lease payments			$	899,931

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2011

Stockholders' Equity [Abstract]

Schedule Of Group Distributions


	Year Ended December 31,
	2011		2010		2009
Tax distributions:
LAZ-MD Holdings	$	699	$	9,480	$	25,316
Subsidiaries of Lazard Ltd		16,800		52,135		42,044

	$	17,499	$	61,615	$	67,360

Other distributions:
LAZ-MD Holdings	$	4,383	$	9,804	$	17,403
Subsidiaries of Lazard Ltd		70,572		50,581		33,451

	$	74,955	$	60,385	$	50,854

Schedule Of Share Repurchase Program


	Number of Shares/Common Membership Interests Purchased		Average Price Per Share/Common Membership Interest
Class A common stock		22,908,848	$	32.94
Lazard Group common membership interests		1,400,089	$	32.66

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


	December 31,
	2011			2010
Currency translation adjustments	$	3,719		$	13,193
Interest rate hedge		(3,557	)		(4,611	)
Employee benefit plans		(92,637	)		(56,595	)

Total AOCI		(92,475	)		(48,013	)
Less amount attributable to noncontrolling interests		(4,111	)		(1,855	)

Total Lazard Ltd AOCI	$	(88,364	)	$	(46,158	)

Schedule Of Changes In Ownership Interests


	Lazard Ltd					LAZ-MD Holdings						Total Lazard Group Common Membership Interests
	Common Membership Interests		% Ownership			Common Membership Interests			% Ownership			Total Lazard Group Common Membership Interests
Balance, January 1, 2009		76,294,912		62.4	%		45,938,752			37.6	%		122,233,664
Activity January 1, 2009 to December 31, 2009:
Common membership interest activity in connection with:
2009 Secondary Offerings		6,394,166					(6,394,166	)					–
Exchanges for Class A common stock		7,523,236					(7,523,236	)					–
Business acquisitions		1,953,598					–						1,953,598
Repurchase of common membership interests from LAZ-MD Holdings		–					(500,924	)					(500,924	)

Balance, December 31, 2009		92,165,912		74.5	%		31,520,426			25.5	%		123,686,338
Activity January 1, 2010 to December 31, 2010:
Common membership interest activity in connection with:
Equity compensation		3,000,000					–						3,000,000
2010 Secondary Offerings		11,561,801					(11,561,801	)					–
Exchanges for Class A common stock		12,081,618					(12,081,618	)					–
Business acquisitions		888,605					–						888,605
Repurchase of common membership interests from LAZ-MD Holdings		–					(224,382	)					(224,382	)

Balance, December 31, 2010		119,697,936		94.0	%		7,652,625			6.0	%		127,350,561
Activity January 1, 2011 to December 31, 2011:
Common membership interest activity in connection with:
Exchanges for Class A common stock		876,814					(876,814	)					–
Business acquisitions		2,434,561					–						2,434,561
Repurchase of common membership interests from LAZ-MD Holdings		–					(19,032	)					(19,032	)

Balance, December 31, 2011		123,009,311		94.8	%		6,756,779			5.2	%		129,766,090

Schedule Of Net Income (Loss) Attributable To Noncontrolling Interests


Net Income (Loss) Attributable to Noncontrolling Interests Year Ended December 31,
	2011			2010			2009
LAZ-MD Holdings	$	11,964		$	12,564			$(60,836	)
Edgewater		4,130			6,690			2,927
GP interests and consolidated investment companies		(139	)		856			266
Other		(313	)		(666	)		(360	)

Total	$	15,642		$	19,444			$(58,003	)


	Noncontrolling Interests As Of December 31,
	2011		2010
LAZ-MD Holdings	$	31,954	$	22,167
Edgewater		91,713		111,289
GP interests and consolidated investment companies		15,560		8,219
Other		1,486		2,044

Total	$	140,713	$	143,719

Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2011

Incentive Plans [Abstract]

Schedule Of Expense Relating To RSUs Charged To Compensation And Benefits Expense And Restructuring Expense


	Year Ended December 31,
	2011		2010		2009
Compensation and benefits (*)	$	264,110	$	256,214	$	333,823
Restructuring		–		46,880		24,239

Total	$	264,110	$	303,094	$	358,062

(*)

Schedule Of Issuance Of RSUs And Charges To Retained Earnings


	Year Ended December 31,
	2011		2010		2009
Number of RSUs issued		389,846		318,025		331,642
Charges to retained earnings, net of estimated forfeitures	$	11,120	$	9,522	$	4,042

Schedule Of Activity Relating To RSUs And DSUs


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2009		22,141,468		$	39.17		65,256		$	40.32
Granted (including 331,642 RSUs relating to dividend participation)		8,006,287		$	31.50		45,526		$	28.92
Forfeited		(831,022	)	$	36.91		–			–
Vested/Converted		(5,948,920	)	$	37.64		(7,636	)	$	34.05

Balance, December 31, 2009		23,367,813		$	37.01		103,146		$	35.75
Granted (including 318,025 RSUs relating to dividend participation)		7,890,127		$	35.69		39,026		$	31.51
Forfeited		(859,756)		$	36.13		–			–
Vested/Converted/Exchanged		(8,289,549)		$	39.42		(20,435	)	$	35.38

Balance, December 31, 2010		22,108,635		$	35.67		121,737		$	34.46
Granted (including 389,846 RSUs relating to dividend participation)		7,002,736		$	43.21		35,043		$	36.09
Forfeited		(305,155	)	$	37.83		–			–
Vested/Converted		(8,054,387	)	$	39.13		(16,120	)	$	34.76

Balance, December 31, 2011		20,751,829		$	36.84		140,660		$	34.83

Summary Of Activity Related To Shares Of Restricted Class A Common Stock


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2010		–			–
Granted/Exchanged (a)		95,332		$	37.63
Vested		–			–

Balance, December 31, 2010		95,332		$	37.63
Granted		327,238		$	43.70
Vested		(327,238	)	$	43.70

Balance, December 31, 2011		95,332		$	37.63

(a)

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2011

Employee Benefit Plans [Abstract]

Summary Of Changes In The Benefit Obligations In The Consolidated Statements Of Financial Condition


	Pension Plans						Post-Retirement Medical Plan
	2011			2010			2011			2010
Change in benefit obligation
Benefit obligation at beginning of year	$	519,779		$	525,458		$	5,799		$	5,358
Service cost		651			598			69			81
Interest cost		28,266			27,734			278			292
Actuarial (gain) loss		51,401			11,253			(437	)		610
Benefits paid		(21,718	)		(21,826	)		(347	)		(542	)
Foreign currency translation and other adjustments		(3,348	)		(23,438	)

Benefit obligation at end of year		575,031			519,779			5,362			5,799

Change in plan assets
Fair value of plan assets at beginning of year		554,988			524,656
Actual return on plan assets		29,870			61,452
Employer contributions		8,689			13,284			347			542
Benefits paid		(21,718	)		(21,826	)		(347	)		(542	)
Foreign currency translation and other adjustments		(2,918	)		(22,578	)

Fair value of plan assets at end of year		568,911			554,988			–			–

Funded surplus (deficit) at end of year	$	(6,120	)	$	35,209		$	(5,362	)	$	(5,799	)

Amounts recognized in the consolidated statements of financial condition at December 31, 2011 and 2010 consist of:
Prepaid pension asset (included in "other assets")	$	31,457		$	61,572
Accrued benefit liability (included in "other liabilities")		(37,577	)		(26,363	)	$	(5,362	)	$	(5,799	)

Net amount recognized	$	(6,120	)	$	35,209		$	(5,362	)	$	(5,799	)

Amounts recognized in AOCI (excluding tax benefits of $14,183 and $2,689 at December 31, 2011 and 2010, respectively) consist of:
Actuarial net loss (gain)	$	93,186		$	41,898		$	(261	)	$	177
Prior service cost		13,896			17,209

Net amount recognized	$	107,082		$	59,107		$	(261	)	$	177

Summary Of Fair Value Of Plan Assets, The Accumulated Benefit Obligation And The Projected Benefit Obligation


	U.S. Pension Plans As Of December 31,				Non-U.S. Pension Plans As Of December 31,				Total As Of December 31,
	2011		2010		2011		2010		2011		2010
Fair value of plan assets	$	24,295	$	23,471		$544,616	$	531,517	$	568,911	$	554,988
Accumulated benefit obligation	$	33,493	$	26,644	$	541,538	$	493,135	$	575,031	$	519,779
Projected benefit obligation	$	33,493	$	26,644	$	541,538	$	493,135	$	575,031	$	519,779

Summary Of Net Periodic Benefit Cost (Credit)


	Pension Plans For The Years Ended December 31,									Post-Retirement Medical Plan For The Years Ended December 31,
	2011			2010			2009			2011			2010			2009
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	651		$	598		$	1,432		$	69		$	81		$	98
Interest cost		28,266			27,734			27,419			278			292			310
Expected return on plan assets		(30,490	)		(29,347	)		(28,310	)
Amortization of:
Prior service cost (credit)		2,979			2,835			3,099						(1,023	)		(1,382	)
Net actuarial loss		258			806			1,323

Net periodic benefit cost (credit)		1,664			2,626			4,963			347			(650	)		(974	)
Settlements (curtailments)								(7	)

Total benefit cost (credit)	$	1,664		$	2,626		$	4,956		$	347		$	(650	)	$	(974	)


Actual return on plan assets	$	29,870		$	61,452		$	53,499
Employer contributions	$	8,689		$	13,284		$	7,581		$	347		$	542		$	378
Benefits paid	$	21,718		$	21,826		$	22,201		$	347		$	542		$	378
Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax charge (benefit) of $(11,495), $7,530 and $(13,415) during the years ended December 31, 2011, 2010 and 2009, respectively):
Net actuarial (gain) loss	$	51,703		$	(21,026	)	$	22,122		$	(438	)	$	610		$	(1,407	)
Prior service (credit)								(2,449	)
Reclassification of prior service (cost) credit to earnings		(2,979	)		(2,835	)		(3,099	)					1,023			1,382
Reclassification of actuarial loss to earnings		(258	)		(806	)		(1,316	)
Currency translation and other adjustments		(491	)		(3,980	)		28,516

Total recognized in AOCI	$	47,975		$	(28,647	)	$	43,774		$	(438	)	$	1,633		$	(25	)

Net amount recognized in total periodic benefit cost and AOCI	$	49,639		$	(26,021	)	$	48,730		$	(91	)	$	983		$	(999	)

Schedule Of Amounts In AOCI On The Consolidated Statement Of Financial Condition Expected To Be Recognized


	Pension Plans		Post-Retirement Medical Plan		Total
Prior service cost	$	2,772	$	–	$	2,772
Net actuarial loss	$	1,504	$	–	$	1,504

Schedule Of Assumptions Used To Develop Actuarial Present Value Of The Projected Benefit Obligation And Net Periodic Pension Cost


	Pension Plans December 31,									Post-Retirement Medical Plan December 31,
	2011			2010			2009			2011			2010		2009
Weighted average assumptions used to determine benefit obligations:
Discount rate		4.8	%		5.4	%		5.7	%		4.1	%		5.0%		5.6%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		4.7	%		5.0	%		5.5	%		5.0	%		5.6%		5.8%
Expected long-term rate of return on plan assets		5.4	%		5.9	%		6.2	%		–			–		–
Healthcare cost trend rates used to determine net periodic benefit cost:
Initial											8.0	%		8.5%		9.0%
Ultimate											6.0	%		6.0%		6.0%
Year ultimate trend rate achieved											2015			2015		2015

Schedule Of Effect Of Assumed Cost Of Healthcare Reported For The Company's Post Retirement Plans


	1% Increase				1% Decrease
	2011		2010		2011			2010
Cost	$	66	$	39	$	(49	)	$	(34	)
Obligation	$	929	$	1,231	$	(649	)	$	(891	)

Schedule Of Expected Benefit Payments


	Pension Plans		Post-Retirement Medical Plan
2012	$	21,055	$	360
2013		21,466		393
2014		22,327		391
2015		23,392		372
2016		24,597		352
2017-2021		136,727		1,737

Schedule Of Categorization Of Plans' Assets


	As of December 31, 2011
	Level 1		Level 2		Level 3		Total
Asset Category
Cash	$	6,836	$	–	$	–	$	6,836
Equity securities		148,431		–		–		148,431
Debt securities:
Corporate bonds		26,137		–		–		26,137
Non-U.S. Governments and agency securities		22,232		–		–		22,232
Mutual funds:
Equity		11,148		34,395		–		45,543
Debt		13,141		302,384		1,777		317,302
Other		–		2,430		–		2,430

Total	$	227,925	$	339,209	$	1,777	$	568,911


	As of December 31, 2010
	Level 1		Level 2		Total
Asset Category
Cash	$	9,571	$	–	$	9,571
Equity securities		170,989		–		170,989
Debt securities:
Corporate bonds		44,580		–		44,580
Non-U.S. Governments and agency securities		40,515		–		40,515
Mutual funds:
Equity		12,133		33,488		45,621
Debt		11,334		229,551		240,885
Other		–		2,827		2,827

Total	$	289,122	$	265,866	$	554,988

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Schedule Of Provision For Income Taxes


	Year Ended December 31,
	2011			2010		2009
Current:
Federal	$	(501	)	$	833	$	(6,017	)
Foreign		35,885			27,626		35,082
State and local (primarily UBT)		2,342			12,652		380

Total current		37,726			41,111		29,445

Deferred:
Federal		16,167			2,785		(19,287	)
Foreign		(2,832	)		5,331		(4,147	)
State and local (primarily UBT)		(6,121	)		–		–

Total deferred		7,214			8,116		(23,434	)

Total	$	44,940		$	49,227	$	6,011

Schedule Of Reconciliation Of U.S. Federal Statutory Income Tax Rate To Effective Tax Rate



	Year Ended December 31,
	2011			2010			2009
U.S. federal statutory income tax rate		35.0	%		35.0	%		35.0	%
Income of noncontrolling interests		(2.0	)		(5.0	)		(10.8	)
Foreign source (income) loss not subject to U.S. income tax		(13.8	)		(15.1	)		20.2
Foreign taxes		8.3			12.0			(17.0	)
State and local taxes (primarily UBT)		0.9			4.3			(0.2	)
Change in valuation allowance		(8.3	)		(10.9	)		(32.8	)
Other, net		(1.0	)		(0.1	)		2.3

Effective income tax rate		19.1	%		20.2	%		(3.3	)%

Schedule Of Deferred Tax Assets And Liabilities


	December 31,
	2011			2010
Deferred Tax Assets:
Basis adjustments (primarily as a result of the separation and recapitalization transactions that occurred during 2005 and from secondary offerings)	$	846,252		$	877,143
Compensation and benefits		196,133			207,080
Net operating loss and tax credit carryforwards		209,781			156,798
Depreciation and amortization		1,519			14,785
Other		25,410			39,316

Gross deferred tax assets		1,279,095			1,295,122
Valuation allowance		(1,145,257	)		(1,165,274	)

Total deferred tax assets (net of valuation allowance)	$	133,838		$	129,848

Deferred Tax Liabilities:
Depreciation and amortization	$	16,240		$	16,469
Compensation and benefits		10,729			20,563
Goodwill		15,031			9,839
Other		41,581			35,201

Total deferred tax liabilities	$	83,581		$	82,072

Schedule Of Gross Unrecognized Tax Benefits


	Year Ended December 31,
	2011			2010			2009
Balance, January 1 (excluding interest and penalties of $7,099, $7,247 and $5,467, respectively)	$	58,605		$	60,558		$	46,725
Increases in gross unrecognized tax benefits relating to tax positions taken during:
Prior years		1,081			2,184			5,271
Current year		16,928			15,756			18,251
Decreases in gross unrecognized tax benefits relating to:
Tax positions taken during prior years		(5,133	)		(644	)		–
Settlements with tax authorities		-			(3,805	)		–
Lapse of the applicable statute of limitations		(9,281	)		(15,444	)		(9,689	)

Balance, December 31 (excluding interest and penalties of $8,454, $7,099 and $7,247, respectively)	$	62,200		$	58,605		$	60,558

Schedule Of Additional Information Relating To Unrecognized Tax Benefits


	Year Ended December 31,
	2011		2010			2009
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $8,454, $7,099 and $7,247, respectively)	$	44,545	$	39,112		$	41,405
Offset to deferred tax assets for unrecognized tax benefits	$	26,109	$	26,592		$	26,400
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $1,785, $2,430 and $1,223, respectively)	$	1,355	$	(148	)	$	1,780

Net Income (Loss) Per Share Of Class A Common Stock (Tables)

12 Months Ended

Dec. 31, 2011

Net Income (Loss) Per Share Of Class A Common Stock [Abstract]

Schedule Of Company's Basic And Diluted Net Income (Loss) Per Share And Weighted Average Shares Outstanding


	Year Ended December 31,
	2011		2010		2009
Net income (loss) attributable to Lazard Ltd		$174,917		$174,979		$(130,242	)
Add (deduct) - adjustment associated with Class A common stock issuable on a non-contingent basis		284		251		(1,292	)

Net income (loss) attributable to Lazard Ltd - basic		175,201		175,230		(131,534	)
Add - dilutive effect, as applicable, of:
Adjustments to income relating to interest expense and changes in net income (loss) attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests, net of tax		12,512		13,689		–

Net income (loss) attributable to Lazard Ltd - diluted	$	187,713		$188,919		$(131,534	)


Weighted average number of shares of Class A common stock outstanding		115,005,676		101,607,301		75,220,897
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		3,026,344		2,803,952		3,091,050

Weighted average number of shares of Class A common stock outstanding - basic		118,032,020		104,411,253		78,311,947
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests		19,597,505		34,058,401		–

Weighted average number of shares of Class A common stock outstanding - diluted		137,629,525		138,469,654		78,311,947

Net income (loss) attributable to Lazard Ltd per share of Class A common stock:
Basic		$1.48		$1.68		$(1.68	)

Diluted		$1.36		$1.36		$(1.68	)

Related Parties (Tables)

12 Months Ended

Dec. 31, 2011

Related Parties [Abstract]

Schedule Of Amounts Receivable From And Payable To Related Parties


	December 31,
	2011		2010
Receivables
LFCM Holdings	$	14,790	$	24,785
Other		3,711		89

Total	$	18,501	$	24,874

Payables
LFCM Holdings	$	4,850	$	2,819
Other		1,225		–

Total	$	6,075	$	2,819

Segment Information (Tables)

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Schedule Of Segment's Contribution With Respect To Net Revenue, Operating Expenses, Operating Income (Loss) And Total Assets


		As Of Or For The Year Ended December 31,
		2011			2010			2009
Financial Advisory	Net Revenue	$	992,107		$	1,119,867		$	986,820
	Operating Expenses (a)		929,688			950,968			998,727

	Operating Income (Loss)	$	62,419		$	168,899		$	(11,907	)

	Total Assets	$	767,699		$	799,090		$	706,785


Asset Management	Net Revenue	$	897,401		$	849,662		$	601,652
	Operating Expenses (a)		628,945			584,348			504,452

	Operating Income	$	268,456		$	265,314		$	97,200

	Total Assets	$	583,524		$	687,323		$	702,775


Corporate	Net Revenue	$	(59,996	)	$	(64,161	)	$	(57,954	)
	Operating Expenses (a)		35,380			126,402			209,573

	Operating Loss	$	(95,376	)	$	(190,563	)	$	(267,527	)

	Total Assets	$	1,730,713		$	1,936,119		$	1,738,202


Total	Net Revenue	$	1,829,512		$	1,905,368		$	1,530,518
	Operating Expenses (a)		1,594,013			1,661,718			1,712,752

	Operating Income (Loss)	$	235,499		$	243,650		$	(182,234	)

	Total Assets	$	3,081,936		$	3,422,532		$	3,147,762

(a)	Operating expenses include depreciation and amortization of property as set forth in table below.


	Year Ended December 31,
	2011		2010		2009
Financial Advisory	$	6,739	$	6,718	$	5,933
Asset Management		3,502		3,693		3,557
Corporate		14,339		12,301		13,051

Total	$	24,580	$	22,712	$	22,541

Schedule Of Revenue From External Customers And Identifiable Assets, By Geographical Areas


	As Of Or For The Year Ended December 31,
	2011			2010			2009
Net Revenue:
United States	$	1,083,457		$	1,161,071		$	803,859
United Kingdom		190,307			215,243			191,521
France		234,441			261,085			247,510
Other Western Europe		174,284			141,343			175,231
Rest of World		147,023			126,626			112,397

Total	$	1,829,512		$	1,905,368		$	1,530,518

Operating Income (Loss):
United States	$	209,236		$	223,341		$	(155,645	)
United Kingdom		(18,074	)		4,867			(11,485	)
France		8,262			23,092			(9,143	)
Other Western Europe		27,276			(9,838	)		(3,071	)
Rest of World		8,799			2,188			(2,890	)

Total	$	235,499		$	243,650		$	(182,234	)

Identifiable Assets:
United States	$	1,630,547		$	1,821,992		$	1,589,720
United Kingdom		253,365			324,309			277,751
France		773,196			883,932			908,137
Other Western Europe		116,682			141,216			159,525
Rest of World		308,146			251,083			212,629

Total	$	3,081,936		$	3,422,532		$	3,147,762

Supplemental Financial Information - Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2011

Supplemental Financial Information - Quarterly Results [Abstract]

Schedule Of Quarterly Financial Information


	2011 Fiscal Quarter
	First			Second		Third		Fourth			Year
	(dollars in thousands, except per share data)
Net revenue	$	438,023		$	477,292	$	462,419	$	451,778		$	1,829,512
Operating expenses		364,577			388,090		374,681		466,665			1,594,013

Operating income (loss)	$	73,446		$	89,202	$	87,738	$	(14,887	)	$	235,499

Net income (loss)	$	59,983		$	71,566	$	67,133	$	(8,123	)	$	190,559
Less - net income (loss) attributable to noncontrolling interests		4,976			9,562		4,434		(3,330	)		15,642

Net income (loss) attributable to Lazard Ltd	$	55,007		$	62,004	$	62,699	$	(4,793	)	$	174,917

Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$0.48			$0.52		$0.53		$(0.04	)		$1.48
Diluted		$0.43			$0.48		$0.49		$(0.04	)		$1.36
Dividends declared per share of common stock		$0.125			$0.16		$0.16		$0.16			$0.605

	2010 Fiscal Quarter
	First			Second		Third		Fourth			Year
	(dollars in thousands, except per share data)
Net revenue	$	438,211		$	419,035	$	453,237	$	594,885		$	1,905,368
Operating expenses		472,692			351,984		373,770		463,272			1,661,718

Operating income (loss)	$	(34,481	)	$	67,051	$	79,467	$	131,613		$	243,650

Net income (loss)	$	(40,894	)	$	53,528	$	70,354	$	111,435		$	194,423
Less - net income (loss) attributable to noncontrolling interests		(7,360	)		8,956		6,263		11,585			19,444

Net income (loss) attributable to Lazard Ltd	$	(33,534	)	$	44,572	$	64,091	$	99,850		$	174,979

Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$(0.38	)		$0.43		$0.58		$0.88			$1.68
Diluted		$(0.38	)		$0.39		$0.51		$0.77			$1.36
Dividends declared per share of common stock		$0.125			$0.125		$0.125		$0.125			$0.50

Organization And Basis Of Presentation (Details) - $ / shares	Dec. 31, 2011	Dec. 31, 2010
Lazard LTD [Member]
Organization And Basis Of Presentation [Line Items]
Common membership interests held	94.80%	94.00%
Lazard MD Holdings LLC [Member]
Organization And Basis Of Presentation [Line Items]
Common membership interests held	5.20%	6.00%
Class A Common Stock [Member]
Organization And Basis Of Presentation [Line Items]
Common stock, par value	$ 0.01	$ 0.01

Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Significant Accounting Policies [Abstract]
Depreciation and amortization expense	$ 24,580	$ 22,712	$ 22,541
Collateralized borrowing activities	8,928	7,483
Foreign currency remeasurement gains (losses), net	1,406	(1,606)	5,700
Reimbursement of expenses	$ 18,942	$ 20,216	$ 21,673

Receivables - Net (Details) - USD ($) $ in Thousands	12 Months Ended
Receivables - Net (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Receivables - Net [Abstract]
Collateralized customer loan receivables	$ 5,952	$ 4,009
Estimated allowance for doubtful accounts	19,450	15,017
Bad debt expense	7,952	8,392	$ 4,509
Charge-offs, foreign currency translation and other adjustments	3,519	4,950	$ 8,817
Receivables deemed past due or uncollectible	$ 22,785	$ 17,101

Investments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Investments (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2011	Jan. 26, 2010	Jan. 24, 2008
Schedule of Investments [Line Items]
Sale of held-to-maturity securities			$ 132,209
Other-than-temporary impairment charges				$ 1,825
Investments in subsidiaries, equity method	$ 11,291		11,291		$ 11,053
Gain on sale of held-to-maturity securities	5,636
Reduction in net unrealized losses			17,923	$ 46,273
Reclassification to earnings of realized gains			1,755
Reclassification to earnings of realized losses			16,245
Sapphire Industrials Corp. [Member]
Schedule of Investments [Line Items]
Equity method investments - purchase of warrants							$ 12,500
Investments in subsidiaries, equity method							$ 50,000
Equity method investments - distribution from company dissolution						$ 50,319
Alternative Asset Management Funds [Member]
Schedule of Investments [Line Items]
GP interests consolidated, but owned by noncontrolling interests	8,219		8,219		777
Edgewater [Member]
Schedule of Investments [Line Items]
Private equity investments consolidated but not owned by Lazard	67,206		67,206		$ 18,502
U.S. Government And Agencies [Member]
Schedule of Investments [Line Items]
Sale of held-to-maturity securities			132,209
Carrying value of held-to-maturity securities	$ 126,573		126,573
Other Debt And Interest-Bearing Deposits [Member]
Schedule of Investments [Line Items]
Proceeds from the sale of available-for-sale corporate debt securities			$ 214,540
Warrants [Member] \| Sapphire Industrials Corp. [Member]
Schedule of Investments [Line Items]
Loss recognized on investments		$ 13,000

Investments (Company's Investments And Securities Sold, Not Yet Purchased) (Details) - USD ($)
$ in Thousands

Dec. 31, 2011

Dec. 31, 2010

Debt: U.S. Government and agencies

$ 36,966

$ 61,593

Equities

^[1]

156,053

88,437

Total Investments

378,521

417,410

Investments, at fair value

364,634

398,365

Interest-bearing deposits

2,834

7,754

Interests in alternative asset management funds

^[1]

20,610

58,656

Fixed income funds

^[1]

31,121

33,951

Private equity

122,718

163,482

Equity method investments

11,053

11,291

Securities sold, not yet purchased, at fair value (included in "other liabilities")

4,282

2,897

Lazard fund interests fixed income funds

5,212

Lazard fund interests equities

19,857

Lazard Fund Interests in alternative asset management funds

2,256

Other [Member]

U.S. Government And Agencies [Member] | Debt Securities [Member]

Other investments

185,502

267,380

Debt: U.S. Government and agencies

1,260

31,900

Other Debt And Interest-Bearing Deposits [Member] | Debt Securities [Member]

Debt: U.S. Government and agencies

$ 35,706

$ 29,693

[1]

Investments (Gross Investment Gains And Losses On Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Investments [Abstract]
Gross investment gains	$ 14,632	$ 45,503	$ 53,319
Gross investment losses	$ 22,376	$ 19,703	$ 19,740

Investments (Gross Unrealized Investment Gains And Losses Pertaining To "Trading" Securities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Investments [Abstract]
Gross unrealized investment gains	$ 683	$ 78	$ 3,723
Gross unrealized investment losses	$ 1,135	$ 512

The increase (decrease) resulting in a gain from the difference between the fair value and the carrying value, or in the comparative fair values, of trading securities held at each balance sheet date, that was included in earnings for the period.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 12
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 21
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7(c))
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 35
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6956420&loc=d3e24584-111560

The increase (decrease) resulting in a loss from the difference between the fair value and the carrying value, or in the comparative fair values, of trading securities held at each balance sheet date, that was included in earnings for the period.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 12
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 21
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7(c))
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Trading Securities
-URI http://asc.fasb.org/extlink&oid=6526789

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 35
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6956420&loc=d3e24584-111560

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Fair Value, Option, Quantitative Disclosures [Line Items]
Net unrealized gains (losses)	$ (3,268)	$ 8,299	$ 7,178
Sales/dispositions of level 3 assets	(69,413)	(11,985)	(5,180)
Unfunded Commitments	$ 52,197
CP II [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment expiration date	Feb. 25, 2017
Private Equity [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Sales/dispositions of level 3 assets	$ (69,218)	$ (11,985)	$ (3,087)
Unfunded Commitments	52,197
Private Equity [Member] \| Edgewater Growth Capital Partners III, L.P. [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Sales/dispositions of level 3 assets	49,500
Unfunded Commitments	$ 41,753
Investment expiration date	Oct. 12, 2016
Private Equity [Member] \| CP II [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 2,492
Australian Private Equity Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 7,952
Australian Private Equity Fund [Member] \| Edgewater Growth Capital Partners III, L.P. [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Remaining commitment date	Oct. 12, 2023
Maximum [Member] \| Australian Private Equity Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Remaining commitment date	Nov. 11, 2019
Minimum [Member] \| Australian Private Equity Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment expiration date	Nov. 11, 2016

Fair Value Measurements (Categorization Of Investments And Certain Other Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 371,765	$ 400,239
Securities sold, not yet purchased	4,282	2,897
Total Liabilities	34,995	6,127
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	160,030	120,108
Securities sold, not yet purchased	4,282	2,897
Total Liabilities	4,282	2,897
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	78,635	116,333
Total Liabilities	30,713	3,230
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	133,100	163,798
Equities Securities[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	156,053	88,437
Equities Securities[Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	115,380	66,269
Equities Securities[Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	37,332	21,852
Equities Securities[Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,341	316
Derivative Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7,131	1,874
Derivative Assets [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7,131	1,874
Derivative Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	30,713	3,230
Derivative Liabilities [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	30,713	3,230
Other [Member] \| Interest In Alternative Asset Management Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	20,610	58,656
Other [Member] \| Interest In Alternative Asset Management Funds [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	13,569	58,656
Other [Member] \| Interest In Alternative Asset Management Funds [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7,041
Other [Member] \| Private Equity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	122,718	163,482
Other [Member] \| Private Equity [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	122,718	163,482
U.S. Government And Agencies [Member] \| Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,260	31,900
U.S. Government And Agencies [Member] \| Debt Securities [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,260	31,900
Fixed Income Funds [Member] \| Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	31,121	33,951
Fixed Income Funds [Member] \| Other [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	27,539
Fixed Income Funds [Member] \| Other [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,582	33,951
Other Debt (Excluding Interest-Bearing Deposits) [Member] \| Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	32,872	21,939
Other Debt (Excluding Interest-Bearing Deposits) [Member] \| Debt Securities [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	15,851	$ 21,939
Other Debt (Excluding Interest-Bearing Deposits) [Member] \| Debt Securities [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 17,021

Fair Value Measurements (Summary Of Changes In Fair Value Of The Company's Level 3 Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 163,798	$ 136,219	$ 86,384
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	(3,416)	8,652	6,496
Purchases/Acquisitions	43,482	34,302	46,980
Sales/Dispositions	(69,413)	(11,985)	(5,180)
Foreign Currency Translation Adjustments	(1,351)	(3,390)	1,539
Ending Balance	133,100	163,798	136,219
Equities Securities[Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	316	305	2,453
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	72	6	(97)
Purchases/Acquisitions	3,155	14	42
Sales/Dispositions	(195)		(2,093)
Foreign Currency Translation Adjustments	(7)	(9)
Ending Balance	3,341	316	305
Private Equity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	163,482	135,914	83,931
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	(3,319)	8,646	6,593
Purchases/Acquisitions	33,117	34,288	46,938
Sales/Dispositions	(69,218)	(11,985)	(3,087)
Foreign Currency Translation Adjustments	(1,344)	(3,381)	1,539
Ending Balance	122,718	$ 163,482	$ 135,914
Interest In Alternative Asset Management Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	(169)
Purchases/Acquisitions	7,210
Ending Balance	$ 7,041

Fair Value Measurements (Fair Value Of Certain Investments Based On NAV) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2011 USD ($)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 185,970
Unfunded Commitments	52,197
Fixed Income Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 3,582
% of Fair Value Not Redeemable	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Next 5 Years	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, 5-10 Years	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Thereafter	0.00%
Investments Redeemable, Redemption Frequency	Monthly
Investments Redeemable, Redemption Notice Period	60 Days
Equities Securities[Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 40,512
% of Fair Value Not Redeemable	2.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Next 5 Years	1.00%
% of Estimated Liquidation Period of Investments Not Redeemable, 5-10 Years	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Thereafter	1.00%
Investments Redeemable, Redemption Frequency	Quarterly
Investments Redeemable, Redemption Notice Period	60 Days
Interest In Alternative Asset Management Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 20,600
% of Fair Value Not Redeemable	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Next 5 Years	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, 5-10 Years	0.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Thereafter	0.00%
Investments Redeemable, Redemption Frequency	Quarterly
Investments Redeemable, Redemption Notice Period	>90 Days
Private Equity [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 121,276
Unfunded Commitments	$ 52,197
% of Fair Value Not Redeemable	100.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Next 5 Years	33.00%
% of Estimated Liquidation Period of Investments Not Redeemable, 5-10 Years	28.00%
% of Estimated Liquidation Period of Investments Not Redeemable, Thereafter	39.00%
Investments Redeemable, Redemption Frequency	NA

Derivatives (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Derivatives (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2010	Dec. 31, 2009
Interest Rate Swaps [Member]
Derivative [Line Items]
Pre-tax losses on derivatives	$ 2,844	$ 1,263

Derivatives (Fair Value Of Derivatives Reported On Consolidated Statements Of Financial Condition) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Derivative [Line Items]
Derivative assets	$ 7,131	$ 1,874
Derivative liabilities	30,713	3,230
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative [Line Items]
Derivative assets	4,245	1,432
Derivative liabilities	445	2,151
Equity And Fixed Income Swaps And Other [Member]
Derivative [Line Items]
Derivative assets	2,885	385
Derivative liabilities	91	753
Interest Rate Swaps [Member]
Derivative [Line Items]
Derivative assets	1	57
Derivative liabilities	277	$ 326
Lazard Fund Interests And Other Similar Deferred Compensation Arrangements [Member]
Derivative [Line Items]
Derivative liabilities	$ 29,900

Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

Derivatives (Gains (Losses) With Respect To Derivatives Not Designated As Hedging Instruments On The Consolidated Statements Of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 3,674	$ (4,418)	$ (9,874)
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	2,422	2,291	3,311
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(13)	(294)	625
Equity And Fixed Income Swaps And Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	4,289	$ (6,415)	$ (13,810)
Lazard Fund Interests And Other Similar Deferred Compensation Arrangements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (3,024)

LAM Merger Transaction (Narrative) (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 31, 2011	Jan. 02, 2009	Dec. 31, 2011	Dec. 31, 2010
Merger Transaction [Line Items]
Cash payments made	$ 90,000	$ 60,000
Accrued compensation and benefits				$ 15,152
Other liabilities			$ 777	$ 71,394
Class A Common Stock [Member]
Merger Transaction [Line Items]
Business acquisition, equity interest delivered, number of shares	2,210,520
Tax obligations in lieu of delivering shares	68,384
Cash payments delayed until 8th anniversary of merger			$ 961
Delayed issuance of shares			24,537

Business Acquisitions (Details) - USD ($) $ in Thousands		12 Months Ended
Business Acquisitions (Details) - USD ($) $ in Thousands	Jul. 15, 2009	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 30, 2011
Business Acquisition [Line Items]
Aggregate fair value of the consideration recognized at the acquisition date	$ 61,624
Business acquisition, number of common stock issued		2,434,561	888,605	1,953,598
Net tangible assets	53,635
Identifiable intangible assets	56,200
Goodwill	$ 61,630
Noncontrolling interests held- whose economic interests approximate	50.00%
Results of acquired business aggregated	$ 109,841
Preferred stock convertible into common shares on a contingent basis		7,921	17,159
Conversion of stock, shares converted		14,100
Class A Common Stock [Member]
Business Acquisition [Line Items]
Business acquisition, number of common stock issued	1,142,857	2,434,561	888,605
Business acquisition common stock issuable on a non-contingent basis		47,474	1,295,029
Additional number of series A preferred shares converted into shares of Class A common stock		2,434,561	572,988	479,732
Class A Common Stock [Member] \| Additional Common Stock [Member]
Business Acquisition [Line Items]
Business acquisition, number of common stock issued subject to earnout criteria and payable over time	1,142,857
Series A Preferred Stock [Member]
Business Acquisition [Line Items]
Convertible preferred shares outstanding			4,862
Additional preferred shares convertible during period		9,238
Conversion of stock, shares converted		14,100
Initial Shares [Member]
Business Acquisition [Line Items]
Business acquisition, shares unrestricted or delivered					285,715
Earnout Shares [Member]
Business Acquisition [Line Items]
Business acquisition, shares unrestricted or delivered					57,287

Property-Net (Details) $ in Thousands	12 Months Ended
Property-Net (Details) $ in Thousands	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Property, Plant and Equipment [Line Items]
Total	$ 435,102	$ 401,422
Less - Accumulated depreciation and amortization	266,673	250,898
Property-net	168,429	150,524
Buildings [Member]
Property, Plant and Equipment [Line Items]
Total	$ 164,168	168,711
Estimated Depreciable Life in Years	33
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total	$ 159,191	156,250
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	20
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	5
Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	$ 85,396	74,881
Furniture And Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	10
Furniture And Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Depreciable Life in Years	3
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Total	$ 26,347	$ 1,580

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Goodwill [Line Items]
Goodwill	$ 356,657,000	$ 313,229,000	$ 261,703,000	$ 170,277,000
Amortization expenses of intangible assets	11,915,000	7,867,000	4,990,000
Goodwill impairment	0	0	$ 0
Financial Advisory Segment [Member]
Goodwill [Line Items]
Goodwill	292,116,000	251,599,000
Asset Management Segment [Member]
Goodwill [Line Items]
Goodwill	$ 64,541,000	$ 61,630,000

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 47
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Goodwill And Other Intangible Assets (Schedule Of Components Of Goodwill And Other Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Goodwill And Other Intangible Assets [Abstract]
Goodwill	$ 356,657	$ 313,229	$ 261,703	$ 170,277
Other intangible assets (net of accumulated amortization)	36,442	48,210
Goodwill and intangible assets, net	$ 393,099	$ 361,439

Goodwill And Other Intangible Assets (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Goodwill And Other Intangible Assets [Abstract]
Balance, January 1	$ 313,229	$ 261,703	$ 170,277
Business acquisitions, including additional contingent consideration earned relating thereto	42,566	41,174	70,965
Foreign currency translation adjustments	862	10,352	20,461
Balance, December 31	$ 356,657	$ 313,229	$ 261,703

The increase (decrease) in the recorded value of goodwill for foreign currency translation adjustments and purchase accounting adjustments needed to revise the carrying amount of goodwill to fair value.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Subparagraph e
-Paragraph 45
-Clause 6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Subparagraph e
-Paragraph 45
-Clause 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Subparagraph e
-Paragraph 45
-Clause 7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Goodwill And Other Intangible Assets [Abstract]

Goodwill And Other Intangible Assets (Schedule Of Gross Cost And Accumulated Amortization Of Other Intangibles) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Goodwill [Line Items]
Other intangible assets, Gross Cost	$ 63,364	$ 63,217
Other intangible assets, Accumulated Amortization	26,922	15,007
Other intangible assets, Net Carrying Amount	36,442	48,210
Success/Performance Fees [Member]
Goodwill [Line Items]
Other intangible assets, Gross Cost	30,740	30,740
Other intangible assets, Accumulated Amortization	7,122	890
Other intangible assets, Net Carrying Amount	23,618	29,850
Management Fees, Customer Relationships And Non-Compete Agreements [Member]
Goodwill [Line Items]
Other intangible assets, Gross Cost	32,624	32,477
Other intangible assets, Accumulated Amortization	19,800	14,117
Other intangible assets, Net Carrying Amount	$ 12,824	$ 18,360

Goodwill And Other Intangible Assets (Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense) (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2011

USD ($)

2012

$ 5,397

^[1]

2013

10,337

^[1]

2014

8,332

^[1]

2015

6,735

^[1]

2016

5,641

^[1]

Total amortization expense

$ 36,442

^[1]

Intangible asset amortization attributable to noncontrolling interest, percentage

46.00%

[1]	Approximately 46% of intangible asset amortization is attributable to a noncontrolling interest.

Other Assets And Other Liabilities (Schedule Of Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Other Assets And Other Liabilities [Abstract]
Current tax receivables and deferred tax assets (net of valuation allowance) and other taxes	$ 129,254	$ 123,813
Advances and prepayments	86,264	94,973
Deferred debt issuance costs	5,879	7,594
Other	50,701	38,930
Total	$ 272,098	$ 265,310

Other Assets And Other Liabilities (Schedule Of Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Other Assets And Other Liabilities [Abstract]
Accrued expenses	$ 150,282	$ 136,666
Current and deferred income taxes and other taxes	112,691	113,159
Employee benefit-related liabilities	70,036	67,779
Unclaimed funds at LFB	27,281	28,026
Abandoned leased space (principally in the U.K.)	11,688	8,203
Securities sold, not yet purchased	4,282	2,897
LAM Merger (present value of unpaid cash consideration)	777	71,394
Other	63,094	85,286
Total	$ 440,131	$ 513,410

Senior And Subordinated Debt (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2011	Jun. 30, 2011	Dec. 31, 2011	Dec. 31, 2010	Jul. 22, 2011
Debt Instrument [Line Items]
Promissory note representing subordinated debt, amount				$ 150,000
Subordinated debt conversion, shares issuable, maximum		2,631,570		2,631,570
Subordinated debt conversion price per share		$ 57		$ 57
Subordinated note maturity date		Sep. 30, 2016		Sep. 30, 2016
Subordinated borrowing, annual interest rate		3.25%		3.25%
Fair value of senior and subordinated debt			$ 1,138,000	$ 1,271,000
Fair value of senior and subordinated debt exceeding the aggregate carrying value			61,000	$ 44,000
Unused lines of credit available			$ 312,000
Cost of repurchased subordinated note					$ 131,829
Pre-tax gain resulted from repurchasing of subordinated note	$ 18,171
Repurchasing date of subordinated note			July 22, 2011
LFB [Member]
Debt Instrument [Line Items]
Unused lines of credit available			$ 91,000
Edgewater [Member]
Debt Instrument [Line Items]
Unused lines of credit available			$ 65,000

Senior And Subordinated Debt (Schedule Of Senior Debt) (Details)

12 Months Ended

Dec. 31, 2011

USD ($)

Dec. 31, 2010

USD ($)

Dec. 31, 2009

USD ($)

Apr. 29, 2010

USD ($)

years

May 09, 2005

USD ($)

Apr. 01, 2005

years

Senior revolving credit facility

$ 1,076,850,000

$ 150,000,000

Duration of senior revolving credit facility, in years | years

Revolving Credit Facility [Member]

Revolver Credit Facility annual interest rate

1.90%

Senior Debt [Member]

Senior Debt [Member] | Lazard Group 7.125% Senior Notes [Member]

$ 1,076,850,000

1,076,850,000

Senior Debt, Initial Principal Amount

^[1]

$ 550,000,000

Senior Debt, Maturity Date

^[1]

May 15, 2015

Senior Debt, Annual Interest Rate

^[1]

7.125%

Senior Debt [Member] | Lazard Group 6.85% Senior Notes [Member]

^[1]

$ 528,500,000

528,500,000

Senior Debt, Initial Principal Amount

^[2]

$ 600,000,000

Senior Debt, Maturity Date

^[2]

Jun. 15, 2017

Senior Debt, Annual Interest Rate

^[2]

6.85%

Senior Debt [Member] | Lazard Group Credit Facility [Member]

^[2]

$ 548,350,000

548,350,000

Senior Debt, Initial Principal Amount

^[3]

$ 150,000,000

Senior Debt, Maturity Date

^[3]

Apr. 29, 2013

Senior Debt, Annual Interest Rate

^[3]

1.90%

7.125% Senior Notes [Member]

Senior Notes repurchased interest rate

Senior Notes repurchased

$ 10,000,000

7.125%

Repurchased senior notes at cost, excluding accrued interest

$ 10,375,000

Unamortized debt issuance costs

49,000

Pre-tax gain or loss from issuance of senior notes

$ (424,000)

Interest rate forward agreement deemed to be effective portion of the hedge

$ 11,003,000

Duration of time amortized as charge to interest expense, in years | years

6.85% Senior Notes [Member]

Senior Notes repurchased interest rate

Senior Notes repurchased

$ 900,000

6.85%

Repurchased senior notes at cost, excluding accrued interest

$ 635,000

Unamortized debt issuance costs

7,000

Pre-tax gain or loss from issuance of senior notes

$ 258,000

[1]	During the year ended December 31, 2010, the Company repurchased $10,000 principal amount of the 7.125% Senior Notes, at a cost, excluding accrued interest, of $10,375, and, after the write-off of applicable unamortized debt issuance costs of $49, the Company recognized a pre-tax loss of $424. In connection with the issuance of the 7.125% Senior Notes, on April 1, 2005, Lazard Group entered into an interest rate forward agreement. On May 9, 2005, Lazard Group settled the interest rate forward agreement, of which $11,003 was deemed to be the effective portion of the hedge and recorded within AOCI and is being amortized as a charge to interest expense over the ten-year term of the 7.125% Senior Notes.
[2]	During the year ended December 31, 2009, the Company repurchased $900 principal amount of the 6.85% Senior Notes, at a cost, excluding accrued interest, of $635, and, after the write-off of applicable unamortized debt issuance costs of $7, the Company recognized a pre-tax gain of $258.
[3]	On April 29, 2010, Lazard Group entered into a $150,000, three-year senior revolving credit facility with a group of lenders (the "Credit Facility"). The Credit Facility, as amended, replaced the prior revolving credit facility, which was terminated as a condition to effectiveness of the Credit Facility. Interest rates under the Credit Facility vary and are based on either a Federal Funds rate or a Eurodollar rate, in each case plus an applicable margin. As of December 31, 2011, the annual interest rate for a loan accruing interest (based on the Federal Funds overnight rate), including the applicable margin, was 1.90%. At December 31, 2011 and 2010, no amounts were outstanding under the Credit Facility.

Senior And Subordinated Debt (Debt Maturities Relating To Senior Borrowings Outstanding) (Details) - Senior Borrowings Outstanding [Member] $ in Thousands	Dec. 31, 2011 USD ($)
Debt Instrument [Line Items]
2012-2014
2015	528,500
2016
Thereafter	548,350
Total	$ 1,076,850

Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Capital Lease Obligations And Operating Lease [Line Items]
Rental expense relating to operating leases	$ 76,718	$ 66,350	$ 69,412
Sublease income	$ 10,967	10,478	$ 11,327
Office space under agreement, expires through	2033
Capital lease obligation payable through	2017
Weighted average interest rate of capital lease	6.40%
Book value of assets under capital lease	$ 24,589	27,767
Liabilities of abandoned leased facilities in the U.K.	10,632	7,194
Charge on abandoned lease facilities	5,539
Guarantees idemnifications	3,907
Collateral/ counter-guarantees	2,655
Other outstanding commitments	15,647
Buildings [Member]
Capital Lease Obligations And Operating Lease [Line Items]
Obligations collateralized by certain assets with a net book value	$ 22,491	$ 25,004

Commitments And Contingencies (Schedule Of Future Minimum Rental Payments For Operating Leases) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2011 USD ($)
Commitments And Contingencies [Abstract]
Minimum Rental Commitments Capital - 2012	$ 3,672
Minimum Rental Commitments Capital - 2013	3,588
Minimum Rental Commitments Capital - 2014	3,076
Minimum Rental Commitments Capital - 2015	2,750
Minimum Rental Commitments Capital - 2016	2,431
Minimum Rental Commitments Capital - Thereafter	8,893
Total minimum lease payments - Capital	24,410
Less amount representing interest	4,326
Present value of capital lease commitments	20,084
Minimum Rental Commitments Operating - 2012	57,201
Minimum Rental Commitments Operating - 2013	64,382
Minimum Rental Commitments Operating - 2014	69,634
Minimum Rental Commitments Operating - 2015	65,242
Minimum Rental Commitments Operating - 2016	63,767
Minimum Rental Commitments Operating - Thereafter	746,829
Total minimum lease payments - Operating	1,067,055
Sublease proceeds	167,124
Net lease payments	$ 899,931

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended								3 Months Ended								12 Months Ended			71 Months Ended
	Oct. 31, 2011	Feb. 28, 2011	Nov. 30, 2010	Aug. 31, 2010	Mar. 31, 2010	Jan. 31, 2010	Sep. 30, 2009	Jun. 30, 2009	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2011	Jul. 15, 2009
Schedule of Capitalization, Equity [Line Items]
Business acquisition number of common stock issued									2,434,561				888,605				2,434,561	888,605	1,953,598	2,434,561
Conversion of Stock, Shares Converted																	14,100
Secondary offering - shares sold pertaining to shares held by Estate					1,681,410
Dividends payable on common stock																	$ 70,572	$ 50,581	$ 33,451
Authorized shares of preferred stock									15,000,000				15,000,000				15,000,000	15,000,000		15,000,000
Par value of preferred stock									$ 0.01				$ 0.01				$ 0.01	$ 0.01		$ 0.01
Percentage of common membership interests and corresponding voting interests in subsidiary by non controlling interests									5.20%				6.00%				5.20%	6.00%		5.20%
Quarterly dividend declared per share									$ 0.16	$ 0.16	$ 0.16	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.605	$ 0.50	$ 0.45
Lazard LTD [Member]
Schedule of Capitalization, Equity [Line Items]
Business acquisition number of common stock issued									2,434,561				888,605				2,434,561	888,605	1,953,598	2,434,561
Shares in exchange of a like number of common membership interests																	876,814	12,081,618	7,523,236
Estate Of Former Chairman And Chief Executive Officer [Member]
Schedule of Capitalization, Equity [Line Items]
Secondary offering - price of shares sold					$ 35.90
Secondary offering - shares sold pertaining to shares received upon simultaneous exchange pertaining to shares held by Estate of Chairman and CEO					5,958,000
Class A Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Newly issued common stock																		3,000,000
Business acquisition number of common stock issued									2,434,561				888,605				2,434,561	888,605		2,434,561	1,142,857
Conversion of stock, shares delivered from Class A common stock held by subsidiaries																	3,515,362
Conversion of Series A preferred stock into Class A common stock (in shares)																	2,434,561	572,988	479,732
Shares authorized pertaining to share based compensation arrangements, 2005 Plan									25,000,000				25,000,000				25,000,000	25,000,000		25,000,000
Shares purchased in connection with secondary offering			1,220,714	2,500,000				1,700,000
Secondary offering - shares sold			3,000,000	7,397,837	7,869,311		5,215,921	4,000,000
Aggregate shares sold from selling shareholders - secondary offering			4,220,714	9,897,837				5,700,000
Secondary offering - price of shares sold			$ 35.77	$ 30.32			$ 37.00	$ 26.00
Secondary offering - shares sold pertaining to shares previously received			1,543,245	7,194,144			2,411,001
Secondary offering - shares sold pertaining to shares received upon simultaneous exchange							2,804,920
Aggregate cost of shares in connection with shares repurchase program			$ 43,665	$ 75,800				$ 44,200
Number of shares/common membership interests purchased																	6,135,189
Aggregate cost of shares/common membership interests purchased																	$ 204,835
Convertible preferred stock									14,100				4,862				14,100	4,862	4,862	14,100
Class A Common Stock [Member] \| LAZ-MD Holdings [Member]
Schedule of Capitalization, Equity [Line Items]
Secondary offering - shares sold pertaining to shares previously received								2,110,754
Secondary offering - shares sold pertaining to shares received upon simultaneous exchange			2,677,469	2,703,693				3,589,246
Series A Preferred Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Convertible preferred shares outstanding													4,862					4,862
Additional preferred shares convertible during period																	9,238
Conversion of Stock, Shares Converted																	14,100
Outstanding shares of preferred stock									7,921				22,021				7,921	22,021		7,921
Remaining outstanding preferred shares									7,921				17,159				7,921	17,159		7,921
Series B Preferred Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Outstanding shares of preferred stock									0				0				0	0		0
Dividend Declared [Member]
Schedule of Capitalization, Equity [Line Items]
Dividends payable on common stock																	$ 19,681
Quarterly dividend declared per share																	$ 0.16
Share Repurchase Program [Member]
Schedule of Capitalization, Equity [Line Items]
Stock/membership interest repurchase program authorized amount	$ 125,000	$ 250,000				$ 200,000											$ 375,000
Share repurchase amount unused																	$ 212,143
Common stock of parent held by subsidiary									3,492,017				6,847,508				3,492,017	6,847,508		3,492,017
Share Repurchase Program [Member] \| Class A Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Secondary offering - price of shares sold								$ 26.00
Share Repurchase Program [Member] \| Shares Expiring 2012 [Member]
Schedule of Capitalization, Equity [Line Items]
Stock/membership interest repurchase program authorized amount																	$ 250,000
Share repurchase amount unused																	87,143
Share Repurchase Program [Member] \| Shares Expiring 2013 [Member]
Schedule of Capitalization, Equity [Line Items]
Stock/membership interest repurchase program authorized amount																	125,000
Share repurchase amount unused																	$ 125,000
Shares Received Upon Exchange [Member] \| Class A Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Secondary offering - shares sold pertaining to shares previously received					7,262
Secondary offering - shares sold pertaining to shares received upon simultaneous exchange					6,180,639
Lazard Group Common Membership Interests [Member]
Schedule of Capitalization, Equity [Line Items]
Number of shares/common membership interests purchased																	19,032			1,400,089
Aggregate cost of shares/common membership interests purchased																	$ 794
Average price per share/common membership interest																				$ 32.66

Stockholders' Equity (Schedule Of Group Distributions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Schedule of Capitalization, Equity [Line Items]
Company tax distributions	$ 17,499	$ 61,615	$ 67,360
Company other distributions	74,955	60,385	50,854
LAZ-MD Holdings [Member]
Schedule of Capitalization, Equity [Line Items]
Company tax distributions	699	9,480	25,316
Company other distributions	4,383	9,804	17,403
Subsidiaries Of Lazard Ltd [Member]
Schedule of Capitalization, Equity [Line Items]
Company tax distributions	16,800	52,135	42,044
Company other distributions	$ 70,572	$ 50,581	$ 33,451

Stockholders' Equity (Schedule Of Share Repurchase Program) (Details) - $ / shares	12 Months Ended	71 Months Ended
	Dec. 31, 2011	Dec. 31, 2011
Class A Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Number Of Shares/Common Membership Interests Purchased		22,908,848
Average price per share/common membership interest		$ 32.94
Lazard Group Common Membership Interests [Member]
Schedule of Capitalization, Equity [Line Items]
Number Of Shares/Common Membership Interests Purchased	19,032	1,400,089
Average price per share/common membership interest		$ 32.66

Stockholders' Equity (Schedule Of Accumulated Other Comprehensive Income (Loss), Net Of Tax) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Stockholders' Equity [Abstract]
Currency translation adjustments	$ 3,719	$ 13,193
Interest rate hedge	(3,557)	(4,611)
Employee benefit plans	(92,637)	(56,595)
Total AOCI	(92,475)	(48,013)
Less amount attributable to noncontrolling interests	(4,111)	(1,855)
Total Lazard Ltd AOCI	$ (88,364)	$ (46,158)

The total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph i
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

Stockholders' Equity (Schedule Of Changes In Ownership Interests) (Details) - shares	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Schedule of Capitalization, Equity [Line Items]
Beginning balance (in shares)	127,350,561	123,686,338	122,233,664
Common membership interest activity in connection with Equity compensation		3,000,000
Common membership interest activity in connection with Business acquisitions	2,434,561	888,605	1,953,598
Repurchase of common membership interests from LAZ-MD Holdings	(19,032)	(224,382)	(500,924)
Ending balance (in shares)	129,766,090	127,350,561	123,686,338
LAZ-MD Holdings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning balance (in shares)	7,652,625	31,520,426	45,938,752
Percentage of ownership, beginning balance	6.00%	25.50%	37.60%
Common membership interest activity in connection with Secondary Offering		(11,561,801)	(6,394,166)
Common membership interest activity in connection with Exchanges for Class A common stock	(876,814)	(12,081,618)	(7,523,236)
Repurchase of common membership interests from LAZ-MD Holdings	(19,032)	(224,382)	(500,924)
Ending balance (in shares)	6,756,779	7,652,625	31,520,426
Percentage of ownership, ending balance	5.20%	6.00%	25.50%
Lazard LTD [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning balance (in shares)	119,697,936	92,165,912	76,294,912
Percentage of ownership, beginning balance	94.00%	74.50%	62.40%
Common membership interest activity in connection with Equity compensation		3,000,000
Common membership interest activity in connection with Secondary Offering		11,561,801	6,394,166
Common membership interest activity in connection with Exchanges for Class A common stock	876,814	12,081,618	7,523,236
Common membership interest activity in connection with Business acquisitions	2,434,561	888,605	1,953,598
Ending balance (in shares)	123,009,311	119,697,936	92,165,912
Percentage of ownership, ending balance	94.80%	94.00%	74.50%

Stockholders' Equity (Schedule Of Net Income (Loss) Attributable To Noncontrolling Interests) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Schedule of Capitalization, Equity [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	$ (3,330)	$ 4,434	$ 9,562	$ 4,976	$ 11,585	$ 6,263	$ 8,956	$ (7,360)	$ 15,642	$ 19,444	$ (58,003)
Noncontrolling interests	140,713				143,719				140,713	143,719
LAZ-MD Holdings [Member]
Schedule of Capitalization, Equity [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests									11,964	12,564	(60,836)
Noncontrolling interests	31,954				22,167				31,954	22,167
Edgewater [Member]
Schedule of Capitalization, Equity [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests									4,130	6,690	2,927
Noncontrolling interests	91,713				111,289				91,713	111,289
GP Interests And Consolidated Investment Companies [Member]
Schedule of Capitalization, Equity [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests									(139)	856	266
Noncontrolling interests	15,560				8,219				15,560	8,219
Other [Member]
Schedule of Capitalization, Equity [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests									(313)	(666)	$ (360)
Noncontrolling interests	$ 1,486				$ 2,044				$ 1,486	$ 2,044

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest).

The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Compensation and benefits

Incentive Plans (Narrative) (Details)	1 Months Ended	3 Months Ended		12 Months Ended
Incentive Plans (Narrative) (Details)	Feb. 29, 2012 USD ($) $ / shares shares	Mar. 31, 2010 USD ($)	Dec. 31, 2009 USD ($) shares	Dec. 31, 2011 USD ($) years shares	Dec. 31, 2010 USD ($) shares	Dec. 31, 2009 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense				$ 18,000,000
Deferred incentive awards	$ 281,000,000
Aggregate fair value of deferred incentive awards	11,000,000
Deferred Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units, Vested/Converted \| shares			(7,636)	(16,120)	(20,435)	(7,636)
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery \| shares				68,866
Shares/Units, Vested/Converted \| shares				327,238
Delivery of common stock associated with stock awards				$ 258,372
Unrecognized compensation expense associated with stock awards				$ 957,000
Weighted average period of unrecognized compensation expense, years \| years				0.7
Expense related to stock and other awards				$ 9,767,000	$ 979,000
Other Incentive Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of unrecognized compensation expense, years \| years				1.8
Awards vest over a maximum period, years						four
Expense related to stock and other awards				$ 14,551,000
Lazard Fund Interests Awards	$ 102,000,000
Pre-tax charge to compensation and benefits expense, deferred cash incentive			$ 60,512,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units, Vested/Converted \| shares			(5,948,920)	(8,054,387)	(8,289,549)	(5,948,920)
Shares/Units, Vested/Converted excluding amount exchanged in period \| shares					(8,248,654)
RSUs exchanged for shares of restricted Class A common stock \| shares					40,895
Acceleration of RSUs held by former chairman and chief executive officer						$ 4,406,440
Unrecognized compensation expense associated with stock awards				$ 259,000,000
Acceleration of the recognition of compensation expense		$ 24,860,000
Weighted average period of unrecognized compensation expense, years	2.7			1.3
Grants in period, shares \| shares	6,100,000
Grant date fair value per RSU \| $ / shares	$ 27.57
Grant date fair value amount	$ 168,000,000
Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements, 2005 Plan \| shares				25,000,000	25,000,000
RSUs exchanged for shares of restricted Class A common stock \| shares					40,895
Class A Common Stock [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery \| shares				2,353,561	1,674,261	446,172
Delivery of common stock associated with stock awards				$ 5,700,826	$ 6,574,393	$ 5,502,748
Non-Executive [Member] \| Deferred Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual compensation received by directors in the form of DSUs				55.00%
Portion of annual compensation required to be paid in DSUs \| shares				26,859	31,588	36,627
Portion of annual compensation elected to be paid in DSUs in lieu of cash \| shares				8,184	7,438	8,899
Fair value of DSU awards expensed				$ 1,265,000	$ 1,230,000	$ 1,316,000
Awarded Under 2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of outstanding Class A common stock				30.00%

Incentive Plans (Schedule Of Expense Relating To RSUs, Charged To Compensation And Benefits Expense And Restructuring Expense) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Incentive Plans [Abstract]

^[1]

$ 264,110

$ 256,214

$ 333,823

Restructuring

46,880

24,239

Total

$ 264,110

303,094

358,062

Cost relating to Company's retirement policy

$ 24,860

Accelerated amortization expense relating to awards held by former Chairman as a result of his death

$ 86,514

[1]

Incentive Plans (Schedule Of Issuance Of RSUs And Charges To Retained Earnings) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Incentive Plans [Abstract]
Issuance of RSUs	389,846	318,025	331,642
Charge to retained earnings, net of estimated forfeitures	$ 11,120	$ 9,522	$ 4,042

Incentive Plans (Schedule Of Activity Relating To RSUs And DSUs) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs relating to dividend participation	389,846	318,025	331,642
Deferred Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units, Beginning Balance	121,737	103,146	65,256
Shares/Units, Granted	35,043	39,026	45,526
Shares/Units, Forfeited
Shares/Units, Vested/Converted	(16,120)	(20,435)	(7,636)
Shares/Units, Closing Balance	140,660	121,737	103,146
Weighted Average Grant Date Fair Value, Beginning balance	$ 34.46	$ 35.75	$ 40.32
Weighted Average Grant Date Fair Value, Granted	36.09	31.51	28.92
Weighted Average Grant Date Fair Value, Forfeited
Weighted Average Grant Date Fair Value, Vested/Converted	34.76	35.38	34.05
Weighted Average Grant Date Fair Value, Ending balance	$ 34.83	$ 34.46	$ 35.75
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units, Beginning Balance	22,108,635	23,367,813	22,141,468
Shares/Units, Granted	7,002,736	7,890,127	8,006,287
Shares/Units, Forfeited	(305,155)	(859,756)	(831,022)
Shares/Units, Vested/Converted	(8,054,387)	(8,289,549)	(5,948,920)
Shares/Units, Closing Balance	20,751,829	22,108,635	23,367,813
Weighted Average Grant Date Fair Value, Beginning balance	$ 35.67	$ 37.01	$ 39.17
Weighted Average Grant Date Fair Value, Granted	43.21	35.69	31.50
Weighted Average Grant Date Fair Value, Forfeited	37.83	36.13	36.91
Weighted Average Grant Date Fair Value, Vested/Converted	39.13	39.42	37.64
Weighted Average Grant Date Fair Value, Ending balance	$ 36.84	$ 35.67	$ 37.01
RSUs relating to dividend participation	389,846	318,025	331,642

Incentive Plans (Summary Of Activity Related To Shares Of Restricted Class A Common Stock) (Details) - $ / shares

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares/Units, Beginning Balance

95,332

Restricted Shares, Granted/Exchanged

327,238

95,332

^[1]

Shares/Units, Vested/Converted

327,238

Shares/Units, Closing Balance

95,332

Weighted Average Grant Date Fair Value, Beginning balance

$ 37.63

Weighted Average Grant Date Fair Value, Granted/Exchanged

43.70

$ 37.63

^[1]

Weighted Average Grant Date Fair Value, Vested/Converted

43.70

Weighted Average Grant Date Fair Value, Ending balance

$ 37.63

Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares/Units, Beginning Balance

22,108,635

23,367,813

22,141,468

Restricted Shares, Granted/Exchanged

7,002,736

7,890,127

8,006,287

Shares/Units, Vested/Converted

(8,054,387)

(8,289,549)

(5,948,920)

Shares/Units, Closing Balance

20,751,829

22,108,635

23,367,813

Weighted Average Grant Date Fair Value, Beginning balance

$ 35.67

$ 37.01

$ 39.17

Weighted Average Grant Date Fair Value, Granted/Exchanged

43.21

35.69

31.50

Weighted Average Grant Date Fair Value, Vested/Converted

39.13

39.42

37.64

Weighted Average Grant Date Fair Value, Ending balance

$ 36.84

$ 35.67

$ 37.01

RSUs exchanged for shares of restricted Class A common stock

40,895

Class A Common Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

RSUs exchanged for shares of restricted Class A common stock

40,895

Restricted stock units exchanged for shares of restricted class A common stock, grant date fair value

$ 36.10

[1]

Employee Benefit Plans (Narrative) (Details) $ in Thousands, £ in Millions	12 Months Ended
	Dec. 31, 2011 GBP (£)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)	Jul. 31, 2009 GBP (£)
Defined Benefit Plan Disclosure [Line Items]
Contribution to settle obligation related to the cumulative underperformance of plan assets			$ 8,600
Escrow deposit \| £					£ 12.5
Pension contributions		$ 0
Employer sponsored defined contribution plans		$ 10,944	$ 9,684	$ 8,409
Change in the assumed healthcare cost trend rate	1.00%	1.00%
Final redemption date					Dec. 31, 2018
Contribution to the plan assets from the escrow account	£ 2.3	$ 3,687
Amount of additional escrow to be extended \| £	10.0
Additional contribution to plan assets from escrow accoun \| £	£ 1.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Future Value plan assets due to purchases		1,837
Future Value plan assets due to net unrealized/realized gains/losses		3
Net unrealized realized gains partially offset by unfavorable foreign currency translation adjustments.		$ 63
Mutual Funds [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plans' assets in equity securities	46.00%	46.00%	52.00%
Percentage of plans' assets in debt securities	54.00%	54.00%	48.00%
Non-U.S Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Future pension contributions for non-US plans		$ 4,867
Investment Holdings did not individually constitute more than Non US pension plan assets	10.00%	10.00%	10.00%
Non-U.S Pension Plan [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plans' assets in debt mutual funds	36.00%	36.00%	43.00%
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Future pension contributions for US plans		$ 700
2014 through 2020 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension contributions \| £	£ 1.0

Employee Benefit Plans (Summary Of Changes In The Benefit Obligations In The Consolidated Statements Of Financial Condition) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	$ 519,779
Benefit obligation at end of year	575,031	$ 519,779
Fair value of plan assets at beginning of year	554,988
Fair value of plan assets at end of year	568,911	554,988
Excluding tax benefits on amounts recognized	14,183	2,689
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded surplus (deficit) at end of year	(6,120)	35,209
Prepaid pension asset (included in "other assets")	31,457	61,572
Accrued benefit liability (included in "other liabilities")	(37,577)	(26,363)
Net amount recognized	(6,120)	35,209
Actuarial net loss (gain), Amounts recognized in AOCI	93,186	41,898
Prior service cost, Amounts recognized in AOCI	13,896	17,209
Net amount recognized in AOCI	107,082	59,107
Post-Retirement Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded surplus (deficit) at end of year	(5,362)	(5,799)
Accrued benefit liability (included in "other liabilities")	(5,362)	(5,799)
Net amount recognized	(5,362)	(5,799)
Actuarial net loss (gain), Amounts recognized in AOCI	(261)	177
Net amount recognized in AOCI	(261)	177
Change In Benefit Obligation [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	519,779	525,458
Service cost	651	598
Interest cost	28,266	27,734
Net actuarial (gain) loss	51,401	11,253
Benefits paid	(21,718)	(21,826)
Foreign currency translation and other adjustments	(3,348)	(23,438)
Benefit obligation at end of year	575,031	519,779
Change In Benefit Obligation [Member] \| Post-Retirement Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	5,799	5,358
Service cost	69	81
Interest cost	278	292
Net actuarial (gain) loss	(437)	610
Benefits paid	(347)	(542)
Benefit obligation at end of year	5,362	5,799
Change In Plan Assets [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefits paid	(21,718)	(21,826)
Foreign currency translation and other adjustments	(2,918)	(22,578)
Fair value of plan assets at beginning of year	554,988	524,656
Actual return on plan assets	29,870	61,452
Employer contributions	8,689	13,284
Fair value of plan assets at end of year	568,911	554,988
Change In Plan Assets [Member] \| Post-Retirement Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefits paid	(347)	(542)
Employer contributions	$ 347	$ 542

Employee Benefit Plans (Summary Of Fair Value Of Plan Assets, The Accumulated Benefit Obligation And The Projected Benefit Obligation) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 568,911	$ 554,988
Accumulated benefit obligation	575,031	519,779
Projected benefit obligation	575,031	519,779
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	24,295	23,471
Accumulated benefit obligation	33,493	26,644
Projected benefit obligation	33,493	26,644
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	544,616	531,517
Accumulated benefit obligation	541,538	493,135
Projected benefit obligation	$ 541,538	$ 493,135

1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date.

Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets.

Employee Benefit Plans (Summary Of Net Periodic Benefit Cost (Credit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Defined Benefit Plan Disclosure [Line Items]
Excluded tax charge (benefit) in plan assets and benefits obligations recognition	$ (11,495)	$ 7,530	$ (13,415)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	651	598	1,432
Interest cost	28,266	27,734	27,419
Expected return on plan assets	(30,490)	(29,347)	(28,310)
Amortization of Prior service cost (credit)	2,979	2,835	3,099
Amortization of Net actuarial loss	258	806	1,323
Net periodic benefit cost (credit)	1,664	2,626	4,963
Settlements (curtailments )			(7)
Total benefit cost (credit)	1,664	2,626	4,956
Actual return on plan assets	29,870	61,452	53,499
Employer contributions	8,689	13,284	7,581
Benefits paid	21,718	21,826	22,201
Net actuarial (gain) loss	51,703	(21,026)	22,122
Prior service (credit)			(2,449)
Reclassification of prior service (cost) credit to earnings	(2,979)	(2,835)	(3,099)
Reclassification of actuarial loss to earnings	(258)	(806)	(1,316)
Currency translation and other adjustments	(491)	(3,980)	28,516
Total recognized in AOCI	47,975	(28,647)	43,774
Net amount recognized in total periodic benefit cost and AOCI	49,639	(26,021)	48,730
Post-Retirement Medical Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	69	81	98
Interest cost	278	292	310
Amortization of Prior service cost (credit)		(1,023)	(1,382)
Net periodic benefit cost (credit)	347	(650)	(974)
Total benefit cost (credit)	347	(650)	(974)
Employer contributions	347	542	378
Benefits paid	347	542	378
Net actuarial (gain) loss	(438)	610	(1,407)
Reclassification of prior service (cost) credit to earnings		1,023	1,382
Total recognized in AOCI	(438)	1,633	(25)
Net amount recognized in total periodic benefit cost and AOCI	$ (91)	$ 983	$ (999)

Employee Benefit Plans (Schedule Of Amounts In AOCI On The Consolidated Statement Of Financial Condition Expected To Be Recognized) (Details) $ in Thousands	Dec. 31, 2011 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected future AOCI service cost	$ 2,772
Expected future AOCI net actuarial gain loss	1,504
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future AOCI service cost	2,772
Expected future AOCI net actuarial gain loss	$ 1,504

Employee Benefit Plans (Schedule Of Assumptions Used To Develop Actuarial Present Value Of The Projected Benefit Obligation And Net Periodic Pension Cost) (Details)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Defined Benefit Plan Disclosure [Line Items]
Healthcare cost trend rates used to determine net periodic benefit cost, Ultimate	1.00%
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Weighted average assumptions used to determine benefit obligations, Discount rate	4.80%	5.40%	5.70%
Weighted average assumptions used to determine net periodic benefit cost, Discount rate	4.70%	5.00%	5.50%
Weighted average assumptions used to determine net periodic benefit cost, Expected long-term rate of return on plan assets	5.40%	5.90%	6.20%
Post-Retirement Medical Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Weighted average assumptions used to determine benefit obligations, Discount rate	4.10%	5.00%	5.60%
Weighted average assumptions used to determine net periodic benefit cost, Discount rate	5.00%	5.60%	5.80%
Healthcare cost trend rates used to determine net periodic benefit cost, Initial	8.00%	8.50%	9.00%
Healthcare cost trend rates used to determine net periodic benefit cost, Ultimate	6.00%	6.00%	6.00%
Healthcare cost trend rates used to determine net periodic benefit cost, Year ultimate trend rate achieved	2015	2015	2015

Employee Benefit Plans (Schedule Of Effect Of Assumed Cost Of Healthcare Reported For The Company's Post Retirement Plans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Employee Benefit Plans [Abstract]
1% Increase, Cost	$ 66	$ 39
1% Increase, Obligation	929	1,231
1% Decrease, Cost	(49)	(34)
1% Decrease, Obligation	$ (649)	$ (891)

Employee Benefit Plans (Schedule Of Expected Benefit Payments) $ in Thousands	Dec. 31, 2011 USD ($)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2012	$ 21,055
2013	21,466
2014	22,327
2015	23,392
2016	24,597
2017-2021	136,727
Post-Retirement Medical Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2012	360
2013	393
2014	391
2015	372
2016	352
2017-2021	$ 1,737

Employee Benefit Plans (Schedule Of Categorization Of Plans' Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	$ 568,911	$ 554,988
Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	6,836	9,571
Equities Securities[Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	148,431	170,989
Other Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		2,827
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	227,925	289,122
Level 1 [Member] \| Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	6,836	9,571
Level 1 [Member] \| Equities Securities[Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	148,431	170,989
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	339,209	265,866
Level 2 [Member] \| Other Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		2,827
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	1,777
Debt Securities [Member] \| Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	26,137	44,580
Debt Securities [Member] \| Non-U.S. Governments And Agency Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	22,232	40,515
Debt Securities [Member] \| Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		45,621
Debt Securities [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		240,885
Debt Securities [Member] \| Level 1 [Member] \| Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	26,137	44,580
Debt Securities [Member] \| Level 1 [Member] \| Non-U.S. Governments And Agency Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	22,232	40,515
Debt Securities [Member] \| Level 1 [Member] \| Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		12,133
Debt Securities [Member] \| Level 1 [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		11,334
Debt Securities [Member] \| Level 2 [Member] \| Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		33,488
Debt Securities [Member] \| Level 2 [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value		$ 229,551
Mutual Funds [Member] \| Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	45,543
Mutual Funds [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	317,302
Mutual Funds [Member] \| Other Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	2,430
Mutual Funds [Member] \| Level 1 [Member] \| Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	11,148
Mutual Funds [Member] \| Level 1 [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	13,141
Mutual Funds [Member] \| Level 2 [Member] \| Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	34,395
Mutual Funds [Member] \| Level 2 [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	302,384
Mutual Funds [Member] \| Level 2 [Member] \| Other Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	2,430
Mutual Funds [Member] \| Level 3 [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	$ 1,777

Restructuring Plans (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Restructuring Plans (Details) - USD ($) $ in Thousands	Mar. 31, 2010	Mar. 31, 2009	Dec. 31, 2011	Dec. 31, 2010
2010 Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 87,108
Restructuring charges related to acceleration of RSUs	$ 46,880
Liability associated with restructuring plan			$ 9,456	$ 21,381
Other than cash payments for restructuring plan			10,625	18,847
Reduction in provision for restructuring plans			1,300
2009 Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 62,550
Restructuring charges related to acceleration of RSUs		$ 24,239
Liability associated with restructuring plan			2,791	5,427
Other than cash payments for restructuring plan			1,436	$ 6,073
Reduction in provision for restructuring plans			$ 1,200

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Tax Examination [Line Items]
Deferred tax assets	$ 133,838	$ 129,848
Deferred tax asset pertaining to basis step-up for payments made under the tax receivable agreement	6,974	7,919
Decrease in deferred tax assets for unrecognized tax benefits	10,000
Deferred tax assets, valuation allowances	1,145,257	1,165,274
Impact on reconciliation of U. S. federal statutory income tax rate to effective income tax rate from change in valuation allowance	20,017
Valuation allowance amount		1,165,274
Indefinite-lived net operating loss and tax credit carryforwards	50,800
Net operating loss and tax credit carryforwards	$ 137,100
Operating loss and tax credit carryforwards begin to expire	2029
Deferred tax assets, equity compensation	$ 19,900	9,065
Provision (benefit) pursuant to tax receivable agreement	429	2,361	$ (1,258)
Basis step-up assets	709,000
Net operating losses due to amortization of step-up assets	$ 137,000
LFCM Holdings [Member]
Income Tax Examination [Line Items]
Percentage of cash savings required to pay under the tax receivable agreement	85.00%
Separation And Recapitalization [Member]
Income Tax Examination [Line Items]
Deferred tax assets	$ 176,871	196,049
Exchangeable Interests And Secondary Offerings [Member]
Income Tax Examination [Line Items]
Deferred tax assets	638,069	640,720
Tax Basis Step Up On Certain U.K. Assets [Member]
Income Tax Examination [Line Items]
Deferred tax assets	24,338	32,455
Related Party Payables [Member]
Income Tax Examination [Line Items]
Provision (benefit) pursuant to tax receivable agreement	$ 2,790	$ 2,361

Income Taxes (Schedule Of Provision For Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes [Abstract]
Federal, current	$ (501)	$ 833	$ (6,017)
Foreign, current	35,885	27,626	35,082
State and local (primarily UBT), current	2,342	12,652	380
Total current	37,726	41,111	29,445
Federal, deferred	16,167	2,785	(19,287)
Foreign, deferred	(2,832)	5,331	(4,147)
State and local (primarily UBT), deferred	(6,121)
Total deferred	7,214	8,116	(23,434)
Total	$ 44,940	$ 49,227	$ 6,011

Income Taxes (Schedule Of Reconciliation Of U.S. Federal Statutory Income Tax Rate To Effective Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%	35.00%
Income of noncontrolling interests	(2.00%)	(5.00%)	(10.80%)
Foreign source (income) loss not subject to U.S. income tax rate	(13.80%)	(15.10%)	20.20%
Foreign taxes, rate	8.30%	12.00%	(17.00%)
State and local (primarily UBT), rate	0.90%	4.30%	(0.20%)
Change in valuation allowance, rate	(8.30%)	(10.90%)	(32.80%)
Other, net rate	(1.00%)	(0.10%)	2.30%
Effective income tax rate	19.10%	20.20%	(3.30%)

Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Income Taxes [Abstract]
Basis adjustments (primarily as a result of the separation and recapitalization transactions that occurred during 2005 and from secondary offerings)	$ 846,252	$ 877,143
Compensation and benefits	196,133	207,080
Net operating loss and tax credit carryforwards	209,781	156,798
Depreciation and amortization	1,519	14,785
Other	25,410	39,316
Gross deferred tax assets	1,279,095	1,295,122
Valuation allowance	(1,145,257)	(1,165,274)
Total deferred tax assets (net of valuation allowance)	133,838	129,848
Depreciation and amortization	16,240	16,469
Compensation and benefits	10,729	20,563
Goodwill	15,031	9,839
Other	41,581	35,201
Total deferred tax liabilities	$ 83,581	$ 82,072

Income Taxes (Schedule Of Gross Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes [Abstract]
Balance, January 1 (excluding interest and penalties of $7,099, $7,247 and $5,467, respectively)	$ 58,605	$ 60,558	$ 46,725
Increase in gross unrecognized tax benefits relating to tax positions taken during prior years	1,081	2,184	5,271
Increase in gross unrecognized tax benefits relating to tax positions taken during current years	16,928	15,756	18,251
Tax positions taken during prior years	(5,133)	(644)
Settlements with tax authorities		(3,805)
Lapse of the applicable statute of limitations	(9,281)	(15,444)	(9,689)
Balance, December 31 (excluding interest and penalties of $8,454, $7,099 and $7,247, respectively)	62,200	58,605	60,558
Beginning balance, interest and penalties	7,099	7,247	5,467
Ending balance, interest and penalties	$ 8,454	$ 7,099	$ 7,247

Income Taxes (Schedule Of Additional Information Relating To Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes [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 $8,454, $7,099 and $7,247, respectively)	$ 44,545	$ 39,112	$ 41,405
Offset to deferred tax assets for unrecognized tax benefits	26,109	26,592	26,400
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $1,785, $2,430 and $1,223, respectively)	1,355	(148)	1,780
Interest and penalties	8,454	7,099	7,247
Reversal of interest and penalties	$ 1,785	$ 2,430	$ 1,223

Net Income (Loss) Per Share Of Class A Common Stock (Schedule Of Company's Basic And Diluted Net Income (Loss) Per Share And Weighted Average Shares Outstanding) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Lazard Ltd	$ (4,793)	$ 62,699	$ 62,004	$ 55,007	$ 99,850	$ 64,091	$ 44,572	$ (33,534)	$ 174,917	$ 174,979	$ (130,242)
Net income (loss) attributable to Lazard Ltd - basic									175,201	175,230	(131,534)
Net income (loss) attributable to Lazard Ltd - diluted									$ 187,713	$ 188,919	$ (131,534)
Weighted average number of shares of Class A common stock outstanding - basic									118,032,020	104,411,253	78,311,947
Weighted average number of shares of Class A common stock outstanding - diluted									137,629,525	138,469,654	78,311,947
Net income (loss) attributable to Lazard Ltd per share of Class A common stock - Basic	$ (0.04)	$ 0.53	$ 0.52	$ 0.48	$ 0.88	$ 0.58	$ 0.43	$ (0.38)	$ 1.48	$ 1.68	$ (1.68)
Net income (loss) attributable to Lazard Ltd per share of Class A common stock - Diluted	$ (0.04)	$ 0.49	$ 0.48	$ 0.43	$ 0.77	$ 0.51	$ 0.39	$ (0.38)	$ 1.36	$ 1.36	$ (1.68)
Class A Common Stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Add (deduct) - adjustment associated with Class A common stock issuable on a non-contingent basis									$ 284	$ 251	$ (1,292)
Adjustments to income relating to interest expense and changes in net income (loss) attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests, net of tax									$ 12,512	$ 13,689
Weighted average number of shares of Class A common stock outstanding	115,005,676				101,607,301				115,005,676	101,607,301	75,220,897
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis									3,026,344	2,803,952	3,091,050
Weighted average number of shares of Class A common stock outstanding - basic									118,032,020	104,411,253	78,311,947
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests									19,597,505	34,058,401
Weighted average number of shares of Class A common stock outstanding - diluted									137,629,525	138,469,654	78,311,947
Net income (loss) attributable to Lazard Ltd per share of Class A common stock - Basic									$ 1.48	$ 1.68	$ (1.68)
Net income (loss) attributable to Lazard Ltd per share of Class A common stock - Diluted									$ 1.36	$ 1.36	$ (1.68)

Related Parties (Narrative) (Details)	1 Months Ended	12 Months Ended
Related Parties (Narrative) (Details)	Feb. 28, 2009 USD ($)	Dec. 31, 2011 USD ($) days	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)	Dec. 15, 2009 USD ($)	Feb. 29, 2008 USD ($)	May 05, 2005 USD ($)
Related Party Transaction [Line Items]
Days notice of termination \| days		180
Referral fees for restructuring transactions		$ 1,866,000	$ 128,000	$ 0
Percentage of ownership interest		50.00%
Date the remaining option to purchase North American fund management is exercisable		May 10, 2014
Cash payment from Lazard Group to LFCM Holdings	$ 4,000,000
LFCM Holdings [Member]
Related Party Transaction [Line Items]
Amounts recorded relating to the administrative services agreement		$ 10,277,000	12,110,000	9,717,000
Amounts recorded relating to net referral fees for underwriting, private placement, and restructuring transactions		18,862,000	11,506,000	12,301,000
Amount receivables related to administrative and support services and reimbursement of expenses		10,722,000	12,775,000
Amount receivable related to referral fees for underwriting and private placement transactions		2,928,000	11,413,000
Amounts payable related to tax receivable agreement		2,790,000	2,361,000
Referral fees for Financial Advisory transactions		2,060,000	458,000
LAZ-MD Holdings [Member]
Related Party Transaction [Line Items]
Amounts recorded relating to the administrative services agreement		750,000	$ 750,000	$ 750,000
LAI Holdings [Member]
Related Party Transaction [Line Items]
Investment in CP II		31,533,000
Write-off of acquired option capitalized cost		5,500,000
North American Fund Management Activities [Member]
Related Party Transaction [Line Items]
Business acquisition, cost of acquired entity, purchase price							$ 8,000,000
Business acquisition, cost of acquired entity, exercised price		$ 2,500,000
Reduction in the exercisable price due to certain claims						$ 1,500,000
European Fund Management Activities [Member]
Related Party Transaction [Line Items]
Business acquisition, cost of acquired entity, purchase price							$ 2,000,000
Business acquisition, cost of acquired entity, exercised price					$ 2,000,000
Maximum [Member] \| LAI Holdings [Member]
Related Party Transaction [Line Items]
Business acquisition, cost of acquired entity, purchase price	6,500,000
Minimum [Member] \| LAI Holdings [Member]
Related Party Transaction [Line Items]
Business acquisition, cost of acquired entity, purchase price	$ 2,500,000

Related Parties (Schedule Of Amounts Receivable From And Payable To Related Parties) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Related Party Transaction [Line Items]
Amounts receivable from related parties	$ 18,501	$ 24,874
Amounts payable to related parties	6,075	2,819
LFCM Holdings [Member]
Related Party Transaction [Line Items]
Amounts receivable from related parties	14,790	24,785
Amounts payable to related parties	4,850	2,819
Other [Member]
Related Party Transaction [Line Items]
Amounts receivable from related parties	3,711	$ 89
Amounts payable to related parties	$ 1,225

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k
-Subparagraph 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 2
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 3

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 16, 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k)(1))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.3)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.10(3))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Carrying amount as of the balance sheet date of obligations due all related parties.

Regulatory Authorities (Details) $ in Thousands	12 Months Ended
Regulatory Authorities (Details) $ in Thousands	Dec. 31, 2011 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Minimum net capital requirement as defined under securities exchange act	$ 100
LFNY [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory net capital	100,819
Regulatory capital in excess of minimum requirement	93,184
U.K. Subsidiaries [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory net capital	149,345
Regulatory capital in excess of minimum requirement	137,437
CFLF [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory net capital	175,781
Regulatory capital in excess of minimum requirement	81,099
Other U.S. And Non-U.S. Subsidiaries [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory net capital	96,255
Regulatory capital in excess of minimum requirement	$ 71,592

Segment Information (Schedule Of Segment's Contribution With Respect To Net Revenue Operating Expenses, Income (Loss) And Total Assets) (Details) - USD ($)

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

$ 451,778,000

$ 462,419,000

$ 477,292,000

$ 438,023,000

$ 594,885,000

$ 453,237,000

$ 419,035,000

$ 438,211,000

$ 1,829,512,000

$ 1,905,368,000

$ 1,530,518,000

466,665,000

374,681,000

388,090,000

364,577,000

463,272,000

373,770,000

351,984,000

472,692,000

1,594,013,000

^[1]

1,661,718,000

^[1]

1,712,752,000

^[1]

(14,887,000)

$ 87,738,000

$ 89,202,000

$ 73,446,000

131,613,000

$ 79,467,000

$ 67,051,000

$ (34,481,000)

235,499,000

243,650,000

(182,234,000)

3,081,936,000

3,422,532,000

3,081,936,000

3,422,532,000

3,147,762,000

Number of clients individually constituted more than 10%

24,580,000

22,712,000

22,541,000

$ 0

Percentage of net revenue constituted by individual clients from either of the Company's business segments

10.00%

Financial Advisory [Member]

$ 992,107,000

$ 1,119,867,000

$ 986,820,000

^[1]

929,688,000

950,968,000

998,727,000

62,419,000

168,899,000

(11,907,000)

767,699,000

799,090,000

767,699,000

799,090,000

706,785,000

Asset Management [Member]

6,739,000

6,718,000

5,933,000

897,401,000

849,662,000

601,652,000

^[1]

628,945,000

584,348,000

504,452,000

268,456,000

265,314,000

97,200,000

583,524,000

687,323,000

583,524,000

687,323,000

702,775,000

3,502,000

3,693,000

3,557,000

Corporate [Member]

(59,996,000)

(64,161,000)

(57,954,000)

^[1]

35,380,000

126,402,000

209,573,000

(95,376,000)

(190,563,000)

(267,527,000)

$ 1,730,713,000

$ 1,936,119,000

1,730,713,000

1,936,119,000

1,738,202,000

Supplemental Financial Information - Quarterly Results [Abstract]

$ 14,339,000

$ 12,301,000

$ 13,051,000

[1]	Operating expenses include depreciation and amortization of property as set forth in table below.

Segment Information (Schedule Of Revenue From External Customers And Identifiable Assets, By Geographical Areas) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Segment Reporting Information [Line Items]
Net Revenue	$ 451,778	$ 462,419	$ 477,292	$ 438,023	$ 594,885	$ 453,237	$ 419,035	$ 438,211	$ 1,829,512	$ 1,905,368	$ 1,530,518
Operating income (Loss)	(14,887)	$ 87,738	$ 89,202	$ 73,446	131,613	$ 79,467	$ 67,051	$ (34,481)	235,499	243,650	(182,234)
Identifiable Assets	3,081,936				3,422,532				3,081,936	3,422,532	3,147,762
United States [Member]
Segment Reporting Information [Line Items]
Net Revenue									1,083,457	1,161,071	803,859
Operating income (Loss)									209,236	223,341	(155,645)
Identifiable Assets	1,630,547				1,821,992				1,630,547	1,821,992	1,589,720
United Kingdom [Member]
Segment Reporting Information [Line Items]
Net Revenue									190,307	215,243	191,521
Operating income (Loss)									(18,074)	4,867	(11,485)
Identifiable Assets	253,365				324,309				253,365	324,309	277,751
France [Member]
Segment Reporting Information [Line Items]
Net Revenue									234,441	261,085	247,510
Operating income (Loss)									8,262	23,092	(9,143)
Identifiable Assets	773,196				883,932				773,196	883,932	908,137
Other Western Europe [Member]
Segment Reporting Information [Line Items]
Net Revenue									174,284	141,343	175,231
Operating income (Loss)									27,276	(9,838)	(3,071)
Identifiable Assets	116,682				141,216				116,682	141,216	159,525
Rest Of World [Member]
Segment Reporting Information [Line Items]
Net Revenue									147,023	126,626	112,397
Operating income (Loss)									8,799	2,188	(2,890)
Identifiable Assets	$ 308,146				$ 251,083				$ 308,146	$ 251,083	$ 212,629

Supplemental Financial Information - Quarterly Results (Schedule Of Quarterly Financial Information) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Net revenue

$ 451,778

$ 462,419

$ 477,292

$ 438,023

$ 594,885

$ 453,237

$ 419,035

$ 438,211

$ 1,829,512

$ 1,905,368

$ 1,530,518

Operating expenses

466,665

374,681

388,090

364,577

463,272

373,770

351,984

472,692

1,594,013

^[1]

1,661,718

^[1]

1,712,752

^[1]

OPERATING INCOME (LOSS)

(14,887)

87,738

89,202

73,446

131,613

79,467

67,051

(34,481)

235,499

243,650

(182,234)

Less - net income (loss) attributable to noncontrolling interests

(8,123)

67,133

71,566

59,983

111,435

70,354

53,528

(40,894)

190,559

194,423

(188,245)

(3,330)

4,434

9,562

4,976

11,585

6,263

8,956

(7,360)

15,642

19,444

(58,003)

NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD LTD

$ (4,793)

$ 62,699

$ 62,004

$ 55,007

$ 99,850

$ 64,091

$ 44,572

$ (33,534)

$ 174,917

$ 174,979

$ (130,242)

Basic

$ (0.04)

$ 0.53

$ 0.52

$ 0.48

$ 0.88

$ 0.58

$ 0.43

$ (0.38)

$ 1.48

$ 1.68

$ (1.68)

Diluted

(0.04)

0.49

0.48

0.43

0.77

0.51

0.39

(0.38)

1.36

(1.68)

Dividends declared per share of common stock

$ 0.16

$ 0.125

$ 0.605

$ 0.50

$ 0.45

[1]	Operating expenses include depreciation and amortization of property as set forth in table below.

Schedule I Condensed Statements Of Financial Condition (Parent Company) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
ASSETS
Cash and cash equivalents	$ 1,003,791	$ 1,209,695	$ 917,329	$ 909,707
Investments in subsidiaries, equity method	11,053	11,291
Due from subsidiaries	18,501	24,874
Total assets	3,081,936	3,422,532	3,147,762
Liabilities:
Due to subsidiaries	6,075	2,819
Other liabilities	440,131	513,410
Total liabilities	2,215,080	2,626,415
Commitments and contingencies
Common stock:
Additional paid-in-capital	659,013	758,841
Retained earnings	258,646	166,468
Accumulated other comprehensive loss, net of tax	(88,364)	(46,158)
Stockholders' equity subtotal before common stock held by subsidiary, total	830,525	880,348
Class A common stock held by subsidiaries, at cost (3,492,017 and 6,847,508 shares at December 31, 2011 and 2010, respectively)	(104,382)	(227,950)
Total stockholders' equity	866,856	796,117	523,097	311,752
Total liabilities and stockholders' equity	3,081,936	3,422,532
Lazard Ltd (Parent Company only) [Member]
ASSETS
Cash and cash equivalents	218	210	1,686	1,801
Investments in subsidiaries, equity method	(1,633,687)	(1,835,651)
Due from subsidiaries	2,359,798	2,488,286
Total assets	726,329	652,845
Liabilities:
Due to subsidiaries		277
Other liabilities	186	170
Total liabilities	186	447
Commitments and contingencies
Common stock:
Additional paid-in-capital	659,013	758,841
Retained earnings	258,646	166,468
Accumulated other comprehensive loss, net of tax	(88,364)	(46,158)
Stockholders' equity subtotal before common stock held by subsidiary, total	830,525	880,348
Class A common stock held by subsidiaries, at cost (3,492,017 and 6,847,508 shares at December 31, 2011 and 2010, respectively)	(104,382)	(227,950)
Total stockholders' equity	726,143	652,398	$ 355,391	$ 250,580
Total liabilities and stockholders' equity	726,329	652,845
Class A Common Stock [Member]
Common stock:
Common stock	1,230	1,197
Class A Common Stock [Member] \| Lazard Ltd (Parent Company only) [Member]
Common stock:
Common stock	1,230	1,197
Class B Common Stock [Member]
Common stock:
Common stock
Series A Preferred Stock [Member]
Preferred Stock:
Preferred stock
Series B Preferred Stock [Member]
Preferred Stock:
Preferred stock

Schedule I Condensed Statements of Financial Condition (Parent Company) (Parenthetical) (Details) - $ / shares	Dec. 31, 2011	Dec. 31, 2010
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Class A common stock held by a subsidiaries, shares	3,492,017	6,847,508
Lazard Ltd (Parent Company only) [Member]
Condensed Financial Statements, Captions [Line Items]
Class A common stock held by a subsidiaries, shares	3,492,017	6,847,508
Series A Preferred Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred stock, shares issued	7,921	22,021
Preferred stock, shares outstanding	7,921	22,021
Series A Preferred Stock [Member] \| Lazard Ltd (Parent Company only) [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	7,921	22,021
Preferred stock, shares outstanding	7,921	22,021
Series B Preferred Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member] \| Lazard Ltd (Parent Company only) [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	123,009,311	119,697,936
Class A Common Stock [Member] \| Lazard Ltd (Parent Company only) [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	123,009,311	119,697,936
Class B Common Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1	1
Common stock, shares issued	1	1
Common stock, shares outstanding	1	1
Class B Common Stock [Member] \| Lazard Ltd (Parent Company only) [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1	1
Common stock, shares issued	1	1
Common stock, shares outstanding	1	1

Schedule I Condensed Statements Of Operations (Parent Company) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

REVENUE

Interest income

$ 14,609

$ 20,967

$ 29,233

74,866

64,233

89,168

Total revenue

1,919,638

2,003,077

1,638,408

Interest expense

90,126

97,709

107,890

OPERATING EXPENSES

Professional services

48,324

43,502

44,569

Lazard Ltd (Parent Company only) [Member]

39,286

40,009

32,614

Total operating expenses

$ 466,665

$ 374,681

$ 388,090

$ 364,577

$ 463,272

$ 373,770

$ 351,984

$ 472,692

1,594,013

^[1]

1,661,718

^[1]

1,712,752

^[1]

NET INCOME (LOSS)

$ (8,123)

$ 67,133

$ 71,566

$ 59,983

$ 111,435

$ 70,354

$ 53,528

$ (40,894)

190,559

194,423

(188,245)

REVENUE

Equity in earnings (losses) of subsidiaries

109,294

109,576

(193,493)

Interest income

67,042

66,722

64,886

Total revenue

176,336

176,298

(128,607)

OPERATING EXPENSES

Professional services

1,276

1,217

1,504

Condensed Financial Statements, Captions [Line Items]

143

102

131

Total operating expenses

1,419

1,319

1,635

NET INCOME (LOSS)

$ 174,917

$ 174,979

$ (130,242)

[1]	Operating expenses include depreciation and amortization of property as set forth in table below.

Schedule I Condensed Statements Of Cash Flows (Parent Company) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (8,123)	$ 67,133	$ 71,566	$ 59,983	$ 111,435	$ 70,354	$ 53,528	$ (40,894)	$ 190,559	$ 194,423	$ (188,245)
Noncash items included in net income (loss):
Amortization of share-based incentive compensation									300,286	316,232	372,472
Net cash provided by operating activities									397,802	168,798	244,775
CASH FLOWS FROM FINANCING ACTIVITIES:
Class A common stock dividends									(70,572)	(50,581)	(33,451)
Other financing activities									(33,414)	(74)	(40)
Net cash used in financing activities									(552,359)	(277,886)	(165,562)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS									(205,904)	292,366	7,622
CASH AND CASH EQUIVALENTS-January 1				1,209,695				917,329	1,209,695	917,329	909,707
CASH AND CASH EQUIVALENTS-December 31	1,003,791				1,209,695				1,003,791	1,209,695	917,329
Supplemental investing non-cash transaction:
Class A common stock issued/issuable in connection with business acquisitions									39,654	41,174	10,946
Lazard Ltd (Parent Company only) [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)									174,917	174,979	(130,242)
Noncash items included in net income (loss):
Equity in (earnings) losses of subsidiaries									(109,294)	(109,576)	193,493
Amortization of share-based incentive compensation											1,316
Changes in due to/from subsidiaries									4,945	(16,215)	(31,354)
Changes in other operating assets and liabilities									12	(83)	174
Net cash provided by operating activities									70,580	49,105	33,387
CASH FLOWS FROM FINANCING ACTIVITIES:
Class A common stock dividends									(70,572)	(50,581)	(33,451)
Other financing activities											(51)
Net cash used in financing activities									(70,572)	(50,581)	(33,502)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS									8	(1,476)	(115)
CASH AND CASH EQUIVALENTS-January 1				$ 210				$ 1,686	210	1,686	1,801
CASH AND CASH EQUIVALENTS-December 31	$ 218				$ 210				218	210	1,686
Supplemental investing non-cash transaction:
Class A common stock issued/issuable in connection with business acquisitions									$ 39,654	$ 41,174	$ 10,946

Schedule I Condensed Statements Of Changes In Stockholders' Equity (Parent Company) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

$ 796,117

$ 523,097

$ 796,117

$ 523,097

$ 311,752

Other comprehensive income (loss) - net of tax:

$ (8,123)

$ 67,133

$ 71,566

59,983

$ 111,435

$ 70,354

$ 53,528

(40,894)

190,559

194,423

(188,245)

(9,474)

(9,457)

53,605

1,054

1,163

1,077

3,129

27,614

9,501

1,268

(15,152)

(38,248)

17,841

(18,215)

Comprehensive loss

146,097

218,243

(135,015)

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

44,856

47,876

39,140

Delivery of Class A common stock (including in connection with LAM Merger)

(3,401)

275,142

305,303

359,378

(79)

(53)

(40)

(70,572)

(50,581)

(33,451)

Delivery of Class A common stock in connection with share-based incentive compensation

(204,835)

(149,981)

(50,479)

(57,576)

(13,479)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

(92,778)

Repurchase of common membership interests from LAZ-MD Holdings

(794)

(7,248)

(13,285)

(1,580)

(21,317)

(32,963)

Lazard Ltd (Parent Company only) [Member]

866,856

796,117

866,856

796,117

523,097

Condensed Financial Statements, Captions [Line Items]

$ 652,398

$ 355,391

652,398

355,391

250,580

Other comprehensive income (loss) - net of tax:

174,917

174,979

(130,242)

(8,760)

(8,937)

37,355

1,000

1,093

803

2,941

20,575

8,930

945

12,140

31,508

(11,290)

(36,256)

16,769

(13,573)

2,091

1,544

2,260

Comprehensive loss

132,992

197,319

(93,167)

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

41,800

46,223

28,141

Delivery of Class A common stock (including in connection with LAM Merger)

(3,401)

260,816

286,957

268,129

(75)

(50)

(40)

(70,572)

(50,581)

(33,451)

Delivery of Class A common stock in connection with share-based incentive compensation

(204,835)

(149,981)

(50,479)

(57,576)

(13,479)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

(92,787)

Repurchase of common membership interests from LAZ-MD Holdings

(753)

(6,812)

(9,900)

(1,580)

9,057

Series A Preferred Stock [Member]

$ 726,143

$ 652,398

$ 726,143

$ 652,398

$ 355,391

Condensed Financial Statements, Captions [Line Items]

22,021

26,883

22,021

26,883

31,745

Conversion of Series A preferred stock into Class A common stock (in shares)

(14,100)

(4,862)

Series A Preferred Stock [Member] | Lazard Ltd (Parent Company only) [Member]

7,921

22,021

7,921

22,021

26,883

Condensed Financial Statements, Captions [Line Items]

22,021

26,883

22,021

26,883

31,745

Conversion of Series A preferred stock into Class A common stock (in shares)

(14,100)

(4,862)

Condensed Financial Statements, Captions [Line Items]

7,921

22,021

7,921

22,021

26,883

Common Stock [Member]

^[1]

119,697,937

92,165,913

119,697,937

92,165,913

76,294,913

$ 1,197

$ 922

$ 1,197

$ 922

$ 763

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization) (in Shares)

^[1]

315,617

1,473,866

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

$ 3

$ 15

Conversion of Series A preferred stock into Class A common stock (in shares)

^[1]

2,434,561

572,988

479,732

Conversion of Series A preferred stock into Class A common stock

$ 24

$ 6

$ 5

Stock issued in exchange for common membership interests, shares

^[1]

876,814

23,643,419

13,917,402

^[1]

3,000,000

Class A common stock issued in exchange for Lazard Group common membership interests (in shares)

$ 30

^[1]

876,814

23,643,419

13,917,402

Class A common stock issued in exchange for Lazard Group common membership interests

$ 9

$ 236

$ 139

^[1]

123,009,312

119,697,937

123,009,312

119,697,937

92,165,913

Common Stock [Member] | Lazard Ltd (Parent Company only) [Member]

$ 1,230

$ 1,197

$ 1,230

$ 1,197

$ 922

Condensed Financial Statements, Captions [Line Items]

^[2]

119,697,937

92,165,913

119,697,937

92,165,913

76,294,913

$ 1,197

$ 922

$ 1,197

$ 922

$ 763

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization) (in Shares)

^[2]

315,617

1,473,866

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

$ 3

$ 15

Conversion of Series A preferred stock into Class A common stock (in shares)

^[2]

2,434,561

572,988

479,732

Conversion of Series A preferred stock into Class A common stock

$ 24

$ 6

$ 5

Stock issued in exchange for common membership interests, shares

^[2]

876,814

23,643,419

13,917,402

^[2]

3,000,000

Class A common stock issued in exchange for Lazard Group common membership interests (in shares)

$ 30

^[2]

876,814

23,643,419

13,917,402

Class A common stock issued in exchange for Lazard Group common membership interests

$ 9

$ 236

$ 139

^[2]

^[2]

123,009,312

119,697,937

123,009,312

119,697,937

92,165,913

Additional Paid-In-Capital [Member]

$ 1,230

$ 1,197

$ 1,230

$ 1,197

$ 922

Condensed Financial Statements, Captions [Line Items]

758,841

549,931

758,841

549,931

429,694

12,421

42,958

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

41,800

46,220

28,126

Conversion of Series A preferred stock into Class A common stock

(24)

(6)

(5)

Delivery of Class A common stock (including in connection with LAM Merger)

(126,812)

260,816

286,957

268,129

Delivery of Class A common stock in connection with share-based incentive compensation

12,092

10,606

4,951

(286,847)

(194,670)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

(297,779)

Repurchase of common membership interests from LAZ-MD Holdings

(753)

(6,812)

(9,900)

(1,580)

23,745

Class A common stock issued in exchange for Lazard Group common membership interests

116,070

(9)

(236)

(139)

Additional Paid-In-Capital [Member] | Lazard Ltd (Parent Company only) [Member]

659,013

758,841

659,013

758,841

549,931

Condensed Financial Statements, Captions [Line Items]

758,841

549,931

758,841

549,931

429,694

12,421

42,958

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

41,800

46,220

28,126

Conversion of Series A preferred stock into Class A common stock

(24)

(6)

(5)

Delivery of Class A common stock (including in connection with LAM Merger)

(126,812)

260,816

286,957

268,129

Delivery of Class A common stock in connection with share-based incentive compensation

12,092

10,606

4,951

(286,847)

(194,670)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

(297,779)

Repurchase of common membership interests from LAZ-MD Holdings

(753)

(6,812)

(9,900)

(1,580)

23,745

Class A common stock issued in exchange for Lazard Group common membership interests

116,070

(9)

(236)

(139)

Retained Earnings [Member]

659,013

758,841

659,013

758,841

549,931

Condensed Financial Statements, Captions [Line Items]

166,468

52,726

166,468

52,726

221,410

174,917

174,979

(130,242)

(12,167)

(10,656)

(4,991)

(70,572)

(50,581)

(33,451)

Retained Earnings [Member] | Lazard Ltd (Parent Company only) [Member]

258,646

166,468

258,646

166,468

52,726

Condensed Financial Statements, Captions [Line Items]

166,468

52,726

166,468

52,726

221,410

174,917

174,979

(130,242)

(12,167)

(10,656)

(4,991)

(70,572)

(50,581)

(33,451)

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Member]

258,646

166,468

258,646

166,468

52,726

Condensed Financial Statements, Captions [Line Items]

Other comprehensive income (loss) - net of tax:

(46,158)

(57,048)

(46,158)

(57,048)

(79,435)

(8,760)

(8,937)

37,355

1,000

1,093

803

2,941

20,575

8,930

945

(281)

(11,450)

(11,290)

(36,256)

16,769

(13,573)

(14,688)

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Member] | Lazard Ltd (Parent Company only) [Member]

(88,364)

(46,158)

(88,364)

(46,158)

(57,048)

Condensed Financial Statements, Captions [Line Items]

Other comprehensive income (loss) - net of tax:

$ (46,158)

$ (57,048)

(46,158)

(57,048)

(79,435)

(8,760)

(8,937)

37,355

1,000

1,093

803

2,941

20,575

8,930

945

(281)

(11,450)

(11,290)

(36,256)

16,769

(13,573)

2,091

1,544

2,260

(14,688)

Class A Common Stock Held By Subsidiaries [Member]

$ (88,364)

$ (46,158)

$ (88,364)

$ (46,158)

$ (57,048)

Condensed Financial Statements, Captions [Line Items]

6,847,508

5,850,775

6,847,508

5,850,775

9,376,162

$ (227,950)

$ (191,140)

$ (227,950)

$ (191,140)

$ (321,852)

Delivery of Class A common stock (including in connection with LAM Merger), shares

(3,515,362)

Delivery of Class A common stock (including in connection with LAM Merger)

$ 123,411

6,135,189

4,686,892

1,984,997

Delivery of Class A common stock in connection with share-based incentive compensation (in shares)

$ (204,835)

$ (149,981)

$ (50,479)

(6,690,159)

(5,510,384)

Delivery of Class A common stock in connection with share-based incentive compensation

$ 229,271

$ 181,191

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits (in shares)

(5,975,318)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

$ 204,992

3,000,000

$ (116,100)

3,492,017

6,847,508

3,492,017

6,847,508

5,850,775

Class A Common Stock Held By Subsidiaries [Member] | Lazard Ltd (Parent Company only) [Member]

$ (104,382)

$ (227,950)

$ (104,382)

$ (227,950)

$ (191,140)

Condensed Financial Statements, Captions [Line Items]

6,847,508

5,850,775

6,847,508

5,850,775

9,376,162

$ (227,950)

$ (191,140)

$ (227,950)

$ (191,140)

$ (321,852)

Delivery of Class A common stock (including in connection with LAM Merger), shares

(3,515,362)

Delivery of Class A common stock (including in connection with LAM Merger)

$ 123,411

6,135,189

4,686,892

1,984,997

Delivery of Class A common stock in connection with share-based incentive compensation (in shares)

$ (204,835)

$ (149,981)

$ (50,479)

(6,690,159)

(5,510,384)

Delivery of Class A common stock in connection with share-based incentive compensation

$ 229,271

$ 181,191

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits (in shares)

(5,975,318)

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

$ 204,992

3,000,000

$ (116,100)

3,492,017

6,847,508

3,492,017

6,847,508

5,850,775

Noncontrolling Interests [Member]

$ (104,382)

$ (227,950)

$ (104,382)

$ (227,950)

$ (191,140)

Condensed Financial Statements, Captions [Line Items]

$ 143,719

$ 167,706

143,719

167,706

61,172

Other comprehensive income (loss) - net of tax:

15,642

19,444

(58,003)

(714)

(520)

16,250

274

188

7,039

571

323

(12,140)

(31,508)

(3,862)

(1,992)

1,072

(4,642)

Comprehensive loss

13,105

20,924

(41,848)

Class A common stock issued/issuable (including in connection with LAM Merger and related amortization)

3,056

1,653

10,999

14,326

18,346

91,249

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits

(4)

(3)

Repurchase of common membership interests from LAZ-MD Holdings

(41)

(436)

(3,385)

(9,057)

(21,317)

(32,963)

Condensed Financial Statements, Captions [Line Items]

$ 140,713

$ 143,719

$ 140,713

$ 143,719

$ 167,706

[1]	Includes 92,165,912, 119,697,936 and 123,009,311 shares of the Company's Class A common stock issued at December 31, 2009, 2010 and 2011, respectively, and 1 share of the Company's Class B common stock at each such date.
[2]	Includes 92,165,912, 119,697,936 and 123,009,311 shares of the Company's Class A common stock issued at December 31, 2009, 2010 and 2011, respectively, and 1 share of the Company's Class B common stock at each such date.

Schedule I Condensed Statements Of Changes In Stockholders' Equity (Parent Company) (Parenthetical) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Dec. 31, 2008

Common Stock [Member]

Common Stock [Member] | Lazard Ltd (Parent Company only) [Member]

^[1]

123,009,312

119,697,937

92,165,913

76,294,913

Condensed Financial Statements, Captions [Line Items]

Class A Common Stock [Member]

^[2]

123,009,312

119,697,937

92,165,913

76,294,913

Condensed Financial Statements, Captions [Line Items]

Share-based incentive compensation and related tax benefits

$ 972

Class A Common Stock [Member] | Lazard Ltd (Parent Company only) [Member]

Condensed Financial Statements, Captions [Line Items]

Share-based incentive compensation and related tax benefits

$ 972

Class A Common Stock [Member] | Common Stock [Member]

Condensed Financial Statements, Captions [Line Items]

Class A Common Stock [Member] | Common Stock [Member] | Lazard Ltd (Parent Company only) [Member]

123,009,311

119,697,936

92,165,912

Condensed Financial Statements, Captions [Line Items]

Class B Common Stock [Member] | Common Stock [Member]

123,009,311

119,697,936

92,165,912

Condensed Financial Statements, Captions [Line Items]

Class B Common Stock [Member] | Common Stock [Member] | Lazard Ltd (Parent Company only) [Member]

Condensed Financial Statements, Captions [Line Items]