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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 25, 2012
Entity Registrant Name	Lazard Ltd
Entity Central Index Key	0001311370
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Subsidiaries of Lazard Ltd
Entity Common Stock, Shares Outstanding		6,970,705
Class A common stock
Entity Common Stock, Shares Outstanding		123,196,012
Class B common stock
Entity Common Stock, Shares Outstanding		1

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 751,238	$ 1,003,791
Deposits with banks	324,355	286,037
Cash deposited with clearing organizations and other segregated cash	78,774	75,506
Receivables (net of allowance for doubtful accounts of $20,756 and $19,450 at June 30, 2012 and December 31, 2011, respectively):
Fees	388,588	402,843
Customers and other	80,790	83,111
Related parties	14,102	18,501
Total receivables, net	483,480	504,455
Investments	439,683	378,521
Property (net of accumulated amortization and depreciation of $261,690 and $266,673 at June 30, 2012 and December 31, 2011, respectively)	198,289	168,429
Goodwill and other intangible assets (net of accumulated amortization of $30,600 and $26,922 at June 30, 2012 and December 31, 2011, respectively)	394,168	393,099
Other assets	307,867	272,098
Total assets	2,977,854	3,081,936
Liabilities:
Deposits and other customer payables	338,514	288,427
Accrued compensation and benefits	251,120	383,513
Senior debt	1,076,850	1,076,850
Capital lease obligations	18,293	20,084
Related party payables	7,080	6,075
Other liabilities	459,589	440,131
Total liabilities	2,151,446	2,215,080
Commitments and contingencies
Common stock:
Additional paid-in-capital	700,064	659,013
Retained earnings	264,682	258,646
Accumulated other comprehensive loss, net of tax	(94,171)	(88,364)
Stockholders' equity subtotal before common stock held by subsidiary and Noncontrolling Interests, total	871,807	830,525
Total Lazard Ltd stockholders' equity	704,425	726,143
Noncontrolling interests	121,983	140,713
Total stockholders' equity	826,408	866,856
Total liabilities and stockholders' equity	2,977,854	3,081,936
Class A common stock
Common stock:
Common stock	1,232	1,230
Common stock held by subsidiary	(167,382)	$ (104,382)
Class B common stock
Common stock:
Common stock
Series A Preferred stock
Preferred stock:
Preferred stock
Series B Preferred stock
Preferred stock:
Preferred stock

Condensed Consolidated Statements of Financial Condition (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Allowance for doubtful accounts receivables	$ 20,756	$ 19,450
Property, accumulated amortization and depreciation	261,690	266,673
Goodwill and other intangible assets, accumulated amortization	$ 30,600	$ 26,922
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares outstanding
Class A common stock
Common stock held by subsidiaries, shares	6,389,777	3,492,017
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	123,196,012	123,009,311
Series A Preferred stock
Preferred stock, shares issued	7,921	7,921
Preferred stock, shares outstanding	7,921	7,921
Class B common stock
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
Series B Preferred stock
Preferred stock, shares issued
Preferred stock, shares outstanding

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
REVENUE
Investment banking and other advisory fees	$ 240,306	$ 243,096	$ 513,847	$ 463,423
Money management fees	201,642	230,906	406,203	445,598
Interest income	1,715	4,363	3,865	7,855
Other	13,568	22,240	39,777	45,070
Total revenue	457,231	500,605	963,692	961,946
Interest expense	20,321	23,313	40,743	46,631
Net revenue	436,910	477,292	922,949	915,315
OPERATING EXPENSES
Compensation and benefits	283,392	286,480	621,709	556,479
Occupancy and equipment	28,347	22,977	54,629	45,685
Marketing and business development	22,322	20,879	50,589	38,990
Technology and information services	21,275	20,582	41,668	40,149
Professional services	13,274	13,120	22,585	22,961
Fund administration and outsourced services	12,670	13,507	26,121	26,758
Amortization of intangible assets related to acquisitions	2,560	1,706	3,678	3,180
Other	8,537	8,839	19,614	18,465
Total operating expenses	392,377	388,090	840,593	752,667
OPERATING INCOME	44,533	89,202	82,356	162,648
Provision for income taxes	10,371	17,636	19,138	31,099
NET INCOME	34,162	71,566	63,218	131,549
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	3,341	9,562	6,845	14,538
NET INCOME ATTRIBUTABLE TO LAZARD LTD	$ 30,821	$ 62,004	$ 56,373	$ 117,011
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic	118,235,320	119,107,386	118,732,431	117,221,070
Diluted	134,636,935	139,347,933	135,615,557	138,969,263
NET INCOME PER SHARE OF COMMON STOCK:
Basic	$ 0.26	$ 0.52	$ 0.47	$ 1.00
Diluted	0.24	0.48	0.44	0.91
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 0.20	$ 0.16	$ 0.36	$ 0.285

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Condensed Consolidated Statements of Comprehensive Income [Abstract]
NET INCOME	$ 34,162	$ 71,566	$ 63,218	$ 131,549
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments	(21,083)	8,436	(1,954)	32,174
Amortization of interest rate hedge	263	263	527	527
Employee benefit plans:
Net actuarial gain (loss) (net of tax benefit (expense) of $1,443 and $(29) for the three months ended June 30, 2012 and 2011, respectively, and $2,725 and $1,906 for the six months ended June 30, 2012 and 2011, respectively)	(3,457)	55	(6,054)	(3,630)
Adjustment for items reclassified to earnings (net of tax expense of $281 and $262 for the three months ended June 30, 2012 and 2011, respectively, and $578 and $517 for the six months ended June 30, 2012 and 2011, respectively)	826	566	1,641	1,114
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(23,451)	9,320	(5,840)	30,185
COMPREHENSIVE INCOME	10,711	80,886	57,378	161,734
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	2,096	9,942	6,698	16,187
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD LTD	$ 8,615	$ 70,944	$ 50,680	$ 145,547

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Tax benefit (expense)	$ 1,443	$ (29)	$ 2,725	$ 1,906
Tax expense associated with adjustment for item reclassified to earnings	$ 281	$ 262	$ 578	$ 517

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 63,218	$ 131,549
Noncash items included in net income:
Depreciation and amortization of property	14,800	11,820
Amortization of deferred expenses, share-based incentive compensation and interest rate hedge	173,083	164,713
Amortization of intangible assets related to acquisitions	3,678	3,180
(Increase) decrease in operating assets:
Deposits with banks	(47,391)	132,672
Cash deposited with clearing organizations and other segregated cash	(4,583)	(845)
Receivables-net	17,417	52,477
Investments	(58,317)	(13,164)
Other assets	(59,656)	12,237
Increase (decrease) in operating liabilities:
Deposits and other payables	60,091	(112,956)
Accrued compensation and benefits and other liabilities	(127,851)	(366,816)
Net cash provided by operating activities	34,489	14,867
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(48,941)	(5,676)
Disposals of property	2,053	199
Net cash used in investing activities	(46,888)	(5,477)
Proceeds from:
Contribution from noncontrolling interests	784	980
Excess tax benefits from share-based incentive compensation	0	2,848
Other financing activities	10	1,688
Payments for:
Capital lease obligations	(1,336)	(1,397)
Distributions to noncontrolling interests	(13,462)	(8,034)
Repurchase of common membership interests from members of LAZ-MD Holdings	0	(794)
Purchase of Class A common stock	(152,413)	(126,237)
Class A common stock dividends	(43,011)	(32,855)
Settlement of vested share-based incentive compensation	(29,421)	(90,635)
Other financing activities	(59)	(46)
Net cash used in financing activities	(238,908)	(254,482)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(1,246)	19,409
NET DECREASE IN CASH AND CASH EQUIVALENTS	(252,553)	(225,683)
CASH AND CASH EQUIVALENTS-January 1	1,003,791	1,209,695
CASH AND CASH EQUIVALENTS-June 30	$ 751,238	$ 984,012

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

Total

Series A Preferred stock

Common Stock

Additional Paid-In-Capital

Retained Earnings

Accumulated Other Comprehensive Income (Loss), Net of Tax

Class A Common Stock Held By a Subsidiary

Total Lazard Ltd Stockholders' Equity

Noncontrolling Interests

Beginning balance at Dec. 31, 2010

$ 796,117

$ 1,197

$ 758,841

$ 166,468

$ (46,158)

$ (227,950)

$ 652,398

$ 143,719

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

22,021

119,697,937

^[1]

6,847,508

Comprehensive income (loss):

Net income

131,549

117,011

14,538

Other comprehensive income (loss) - net of tax:

Currency translation adjustments

32,174

30,418

1,756

Amortization of interest rate hedge

527

498

Employee benefit plans:

Net actuarial loss

(3,630)

(3,434)

(196)

Adjustments for items reclassified to earnings

1,114

1,054

Comprehensive income

161,734

145,547

16,187

Business acquisitions and related equity transactions:

Class A common stock issued/issuable (including related amortization)

4,420

4,180

240

Amortization of share-based incentive compensation

152,533

144,261

8,272

Dividend-equivalents

(35)

5,958

(5,991)

(33)

(2)

Class A common stock dividends

(32,855)

Purchase of Class A common stock

(126,237)

$ (126,237)

(126,237)

Purchase of Class A common stock (in shares)

3,156,416

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits of $972 and $2,178 for 2012 and 2011, respectively

(88,457)

(282,956)

$ 194,424

(88,532)

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

(5,664,049)

Repurchase of common membership interests from LAZ-MD Holdings

(794)

(751)

(43)

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

$ 7

(7)

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

^[1]

728,385

(1,580)

Distributions to noncontrolling interests, net

(7,054)

14,323

(205)

14,118

(14,118)

Ending balance at Jun. 30, 2011

857,792

$ 1,204

642,269

244,633

(17,827)

$ (159,763)

710,516

147,276

Ending balance (in shares) at Jun. 30, 2011

22,021

120,426,322

^[1]

4,339,875

Beginning balance at Dec. 31, 2011

866,856

$ 1,230

659,013

258,646

(88,364)

$ (104,382)

726,143

140,713

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

7,921

123,009,312

^[2]

3,492,017

Comprehensive income (loss):

Net income

63,218

56,373

6,845

Other comprehensive income (loss) - net of tax:

Currency translation adjustments

(1,954)

(2,004)

Amortization of interest rate hedge

527

500

Employee benefit plans:

Net actuarial loss

(6,054)

(5,747)

(307)

Adjustments for items reclassified to earnings

1,641

1,558

Comprehensive income

57,378

50,680

6,698

Business acquisitions and related equity transactions:

Class A common stock issued/issuable (including related amortization)

3,018

2,865

153

Amortization of share-based incentive compensation

152,486

144,766

7,720

Dividend-equivalents

(52)

7,277

(7,326)

(49)

(3)

Class A common stock dividends

(43,011)

Purchase of Class A common stock

(152,413)

$ (152,413)

(152,413)

Purchase of Class A common stock (in shares)

5,706,592

Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefits of $972 and $2,178 for 2012 and 2011, respectively

(30,393)

(119,757)

$ 89,413

(30,344)

(49)

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

(2,808,832)

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

$ 2

(2)

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

^[2]

186,701

Distributions to noncontrolling interests, net

(12,678)

Deconsolidation of investment companies

(14,783)

5,902

(114)

5,788

(5,788)

Ending balance at Jun. 30, 2012

$ 826,408

$ 1,232

$ 700,064

$ 264,682

$ (94,171)

$ (167,382)

$ 704,425

$ 121,983

Ending balance (in shares) at Jun. 30, 2012

7,921

123,196,013

^[2]

6,389,777

[1]	Includes 119,697,936 and 120,426,321 shares of the Company's Class A common stock issued at January 1, 2011 and June 30, 2011, respectively, and 1 share of the Company's Class B common stock issued at each such date.
[2]	Includes 123,009,311 and 123,196,012 shares of the Company's Class A common stock issued at January 1, 2012 and June 30, 2012, respectively, and 1 share of the Company's Class B common stock issued at each such date.

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (Unaudited) - Common Stock - USD ($)
shares in Thousands, $ in Thousands

6 Months Ended

Jun. 30, 2012

Jun. 30, 2011

Dec. 31, 2011

Dec. 31, 2010

Common stock, issued

123,196,013

^[1]

120,426,322

^[2]

123,009,312

^[1]

119,697,937

^[2]

Class A common stock

Common stock, issued

123,196,012

120,426,321

123,009,311

119,697,936

Share-based incentive compensation and related tax benefits

$ 972

$ 2,178

Class B common stock

Common stock, issued

[1]	Includes 123,009,311 and 123,196,012 shares of the Company's Class A common stock issued at January 1, 2012 and June 30, 2012, respectively, and 1 share of the Company's Class B common stock issued at each such date.
[2]	Includes 119,697,936 and 120,426,321 shares of the Company's Class A common stock issued at January 1, 2011 and June 30, 2011, respectively, and 1 share of the Company's Class B common stock issued at each such date.

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2012

Organization and Basis of Presentation [Abstract]

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 individuals.

Lazard Ltd indirectly held approximately 94.9% and 94.8% of all outstanding Lazard Group common membership interests as of June 30, 2012 and December 31, 2011, respectively. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group, which is governed by an Operating Agreement dated as of May 10, 2005, as amended (the “Operating Agreement”). LAZ-MD Holdings LLC (“LAZ-MD Holdings”), an entity owned by Lazard Group’s current and former managing directors, held approximately 5.1% and 5.2% of the outstanding Lazard Group common membership interests as of June 30, 2012 and December 31, 2011, 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 5.1% and 5.2% of the voting power but no economic rights in the Company as of such respective dates. 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”).

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 offers a broad range of investment solutions and investment management services in equity and fixed income strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients globally.

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 record outstanding indebtedness in 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 accompanying condensed consolidated financial statements of Lazard Ltd have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard Ltd’s Annual Report on Form 10-K for the year ended December 31, 2011 (the “Form 10-K”). The accompanying December 31, 2011 condensed consolidated statement of financial condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management’s knowledge of current events and actions that Lazard may undertake in the future, actual results may differ materially from the estimates. The consolidated results of operations for the three month and six month periods ended June 30, 2012 are not necessarily indicative of the results to be expected for any future interim or annual period.

The condensed 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”); the 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 (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries.

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.

- Definition

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

+ References

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-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph 8, C1, C7
-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.

+ Details

Recent Accounting Developments

6 Months Ended

Jun. 30, 2012

RECENT ACCOUNTING DEVELOPMENTS [Abstract]

RECENT ACCOUNTING DEVELOPMENTS

2.	*RECENT ACCOUNTING DEVELOPMENTS*

Fair Value Measurements—In the first quarter of 2012, the Company adopted the amended fair value measurement guidance issued by the Financial Accounting Standards Board (the “FASB”), which the FASB stated 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 are 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 became effective for interim and annual periods beginning after December 15, 2011 and is applied prospectively. The adoption of the amended fair value measurement guidance did not have a material impact on the Company’s consolidated financial statements, primarily because substantially all Level 3 assets are carried at net asset value (“NAV”) or its equivalent.

Other Comprehensive Income—In the first quarter of 2012, the Company adopted the FASB’s amended guidance regarding the presentation of comprehensive income, which the FASB stated was designed to improve comparability, consistency and transparency. The amendment required that all changes in comprehensive income be presented either in (i) a single continuous statement of comprehensive income or in (ii) two separate but consecutive statements. The amendment was to be applied retrospectively and is effective with interim and annual periods beginning after December 15, 2011, with early adoption permitted. The Company elected the two-statement method.

Receivables - Net

6 Months Ended

Jun. 30, 2012

Receivables - Net [Abstract]

RECEIVABLES - NET

3.	*RECEIVABLES - NET*

The Company’s “receivables - net” represents receivables from fees, customers and other and related parties.

Receivables are stated net of an estimated allowance for doubtful accounts of $20,756 and $19,450 at June 30, 2012 and December 31, 2011, respectively, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. The Company recorded net bad debt expense (recoveries) of $(133) and $1,148 for the three month and six month periods ended June 30, 2012, respectively, and $2,463 and $3,430 for the three month and six month periods ended June 30, 2011, respectively. In addition, the Company recorded charge-offs, foreign currency translation and other adjustments, which resulted in a net increase (decrease) to the allowance for doubtful accounts of $(283) and $158 for the three month and six month periods ended June 30, 2012, respectively, and $(1,435) and $(1,922) for the three month and six month periods ended June 30, 2011, respectively. At June 30, 2012 and December 31, 2011, the Company had receivables deemed past due or uncollectible of $22,857 and $22,785, respectively.

Investments

6 Months Ended

Jun. 30, 2012

Investments [Abstract]

INVESTMENTS

4.	*INVESTMENTS*

The Company’s investments and securities sold, not yet purchased, consist of the following at June 30, 2012 and December 31, 2011:


	June 30,		December 31,
	2012		2011
Debt	$	20,270	$	36,966

Equities (a)		212,314		156,053

Other:
Interests in alternative asset management funds (a)		36,500		20,610
Fixed income funds (a)		47,165		31,121
Private equity		113,991		122,718
Equity method investments		9,443		11,053

		207,099		185,502

Total		439,683		378,521
Less:
Interest-bearing deposits (included in “debt” above)		2,715		2,834
Equity method investments		9,443		11,053

Investments, at fair value	$	427,525	$	364,634

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	1,097	$	4,282

(a)

Equities, interests in alternative asset management funds and fixed income funds include investments with fair values of $73,174, $3,512 and $20,237, respectively, at June 30, 2012 and $19,857, $2,256 and $5,212, respectively, at December 31, 2011, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests (“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 a number of Lazard-managed funds (see Notes 6 and 13 of Notes to Condensed Consolidated Financial Statements).

Debt securities primarily consist of seed investments in Asset Management products and U.S. and non-U.S. government debt securities.

Equities primarily consist of (i) seed investments in Asset Management products, which in turn invest in marketable equity securities of large-, mid- and small-cap domestic, international and global companies and include investments in public and private asset management funds managed both by LAM and third-party asset managers and (ii) amounts relating to Lazard Fund Interests discussed above.

Interests in alternative asset management funds primarily consist of general partner (“GP”) interests in various Lazard-managed alternative asset management funds.

Fixed income funds primarily consist of (i) seed investments in Asset Management products, which invest in fixed income securities and (ii) amounts relating to Lazard Fund Interests discussed above.

Private equity investments include those owned by Lazard and those consolidated but not owned by Lazard. Private equity investments owned by Lazard are primarily comprised of investments in private equity funds. Such investments primarily include (i) 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) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a private equity fund primarily making equity and buyout investments in lower middle market companies, (iv) 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 (v) Lazard Australia Corporate Opportunities Fund 2 (“COF 2”), a Lazard-managed Australian private equity fund.

Private equity investments consolidated but not owned by Lazard relate to the economic interests that are owned by the management team and other investors in the Edgewater Funds (“Edgewater”) which aggregated $19,932 and $18,502 at June 30, 2012 and December 31, 2011, respectively.

During the three month and six month periods ended June 30, 2012 and 2011, the Company recognized gross investment gains and losses in “revenue-other” on its condensed consolidated statements of operations as follows:


	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2012		2011		2012		2011
Gross investment gains	$	1,715	$	8,830	$	29,359	$	15,205
Gross investment losses	$	3,052	$	2,235	$	4,036	$	3,251


The table above includes gross unrealized investment gains and losses pertaining to “trading” securities as follows:
	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2012		2011		2012		2011
Gross unrealized investment gains	$	373	$	641	$	1,418	$	1,214
Gross unrealized investment losses	$	1,721	$	193	$	1,721	$	313

Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

FAIR VALUE MEASUREMENTS

5.	*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 (i) quoted prices for similar assets or liabilities in an active market or quoted prices for identical or similar assets or liabilities in non-active markets, (ii) assets valued based on NAV or its equivalent redeemable at the measurement date or within the near term without redemption restrictions, or (iii) inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data.

Level 3.

Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose 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 or its equivalent, but not redeemable within the near term as a result of redemption restrictions.

The Company’s investments in U.S. and 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 prices 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 redeemable in the near term are classified as Level 2 and valued at NAV or its equivalent, which is primarily determined 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 or its equivalent that 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 valued at NAV or its equivalent, which is primarily determined based on information provided by fund managers and, secondarily, from external pricing services to the extent managed by LAM.

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 the 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 or its equivalent. Such investments 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; the fair values of interest rate swaps are based on the interest rate yield curve; and the fair value of derivative liabilities related to Lazard Fund Interests and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for estimated forfeitures.

Where information reported is based on broker quotes, the Company generally obtains one quote/price per instrument. 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 June 30, 2012 and December 31, 2011 into the three-level fair value hierarchy in accordance with fair value measurement disclosure requirements:



	June 30, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	13,302	$	4,253	$	–	$	17,555
Equities		168,187		43,936		191		212,314
Other (excluding equity method investments):
Interests in alternative asset management funds		–		31,884		4,616		36,500
Fixed income funds		33,211		13,954		–		47,165
Private equity		–		–		113,991		113,991
Derivatives		–		4,449		–		4,449

Total	$	214,700	$	98,476	$	118,798	$	431,974

Liabilities:
Securities sold, not yet purchased	$	1,097	$	–	$	–	$	1,097
Derivatives		–		87,495		–		87,495

Total	$	1,097	$	87,495	$	–	$	88,592


	December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	17,111	$	17,021	$	–	$	34,132
Equities		115,380		37,332		3,341		156,053
Other (excluding equity method investments):
Interests 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	$	160,030	$	78,635	$	133,100	$	371,765

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

Total	$	4,282	$	30,713	$	–	$	34,995

There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the three month and six month periods ended June 30, 2012 and 2011.

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets for the three month and six month periods ended June 30, 2012 and 2011:


	Three Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	227	$	5		$	–	$	(30	)	$	(11	)	$	191
Interests in alternative asset management funds		5,905		(38	)		10		(1,261	)		–			4,616
Private equity		116,563		4,786			56		(4,873	)		(2,541	)		113,991

Total Level 3 Assets	$	122,695	$	4,753		$	66	$	(6,164	)	$	(2,552	)	$	118,798


	Six Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	3,341	$	5	$	10	$	(3,160	)	$	(5	)	$	191
Interests in alternative asset management funds		7,041		89		10		(2,524	)		–			4,616
Private equity		122,718		12,350		2,752		(22,745	)		(1,084	)		113,991

Total Level 3 Assets	$	133,100	$	12,444	$	2,772	$	(28,429	)	$	(1,089	)	$	118,798


	Three Months Ended June 30, 2011
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
Investments:
Equities	$	129	$	3	$	–	$	–		$	3	$	135
Private equity		171,487		3,545		922		(2,052	)		802		174,704

Total Level 3 Assets	$	171,616	$	3,548	$	922	$	(2,052	)	$	805	$	174,839


	Six Months Ended June 30, 2011
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		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	$	3	$	–	$	(195	)	$	11	$	135
Private equity		163,482		3,824		13,075		(9,160	)		3,483		174,704

Total Level 3 Assets	$	163,798	$	3,827	$	13,075	$	(9,355	)	$	3,494	$	174,839

(a) Earnings for the three month and six month periods ended June 30, 2012 and three month and six month periods ended June 30, 2011 include net unrealized gains of $3,483, $9,563, $3,538 and $3,817, respectively.

Fair Value of Certain Investments Based on NAV—The Company’s Level 2 and Level 3 investments at June 30, 2012 and December 31, 2011 include certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value. Information with respect thereto was as follows:


	June 30, 2012
					% of			Estimated Liquidation Period of Investments Not Redeemable									Investments Redeemable
	Fair Value		Unfunded Commitments		Fair Value Not Redeemable			% Next 5 Years			% 5-10 Years			% Thereafter			Redemption Frequency	Redemption Notice Period
Equity funds	$	43,908	$	–		2	%		1	%		0	%		1	%	Quarterly	60 Days
Interests in alternative asset management funds		36,500		–		0	%		0	%		0	%		0	%	Quarterly	>90 Days
Fixed income funds		13,954		–		0	%		0	%		0	%		0	%	Monthly	60 Days
Private equity funds		112,392		35,726		100	%		25	%		35	%		40	%	NA	NA

Total	$	206,754	$	35,726


	December 31, 2011
					% of			Estimated Liquidation Period of Investments Not Redeemable									Investments Redeemable
	Fair Value		Unfunded Commitments		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	NA

Total	$	185,970	$	52,197

Investment Capital Funding Commitments—At June 30, 2012, the current maximum unfunded commitments by the Company for capital contributions to investment funds related to (i) CP II, amounting to $2,124 for potential “follow-on investments” and/or for fund expenses through the earlier of February 25, 2017 or the liquidation of the fund, (ii) EGCP III, amounting to $25,673 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 fund expenses) or the liquidation of the fund and (iii) COF 2, amounting to $7,929, through the earlier of November 11, 2016 (i.e., the end of the investment period) for investments and/or fund 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.

- Definition

The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

Reference 2: 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=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-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 157
-Paragraph 32
-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 6
-Footnote 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 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-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.

+ Details

Derivatives

6 Months Ended

Jun. 30, 2012

Derivatives [Abstract]

DERIVATIVES

6.	*DERIVATIVES*

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. Gains and losses on the Company’s derivative instruments not designated as hedging instruments 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.

In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests awards and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments, adjusted for estimated forfeitures, and is included in “accrued compensation and benefits” in the consolidated statements of financial condition. Changes in the fair value of the derivative liabilities are included in “compensation and benefits” in the consolidated statements of operations, the impact of which equally offsets the changes in the fair value of investments which are currently expected to be delivered upon settlement of Lazard Fund Interests awards, which is reported in “revenue-other” in the consolidated statements of operations.

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 liabilities relating to its obligations pertaining to Lazard Fund Interests and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 13 of Notes to Condensed Consolidated Financial Statements) on the accompanying condensed consolidated statements of financial condition as of June 30, 2012 and December 31, 2011:


	June 30,		December 31,
	2012		2011
Derivative Assets:
Forward foreign currency exchange rate contracts		$1,084	$	4,245
Equity and fixed income swaps and other		3,365		2,886

Total		$4,449	$	7,131

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,491	$	445
Interest rate swaps		247		277
Equity and fixed income swaps		116		91
Lazard Fund Interests and other similar deferred compensation arrangements (see Note 13)		85,641		29,900

Total	$	87,495	$	30,713

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (reported in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2012 and 2011, by type of derivative, were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2012		2011			2012			2011
Forward foreign currency exchange rate contracts	$	4,051	$	(3,139	)	$	2,129		$	(9,397	)
Equity and fixed income swaps and other		3,630		(432	)		(6,625	)		(2,721	)
Lazard Fund Interests and other similar deferred compensation arrangements		2,856		–			89			–

Total	$	10,537	$	(3,571	)	$	(4,407	)	$	(12,118	)

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

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-Publisher FASB
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-Name Accounting Standards Codification
-Topic 235
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-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-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 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
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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.

+ Details

Business Acquisitions

6 Months Ended

Jun. 30, 2012

Business Acquisitions [Abstract]

BUSINESS ACQUISITIONS

7.	*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 management team retained a substantial economic interest in such entities. Edgewater’s activities are recorded in the Company’s Asset Management segment.

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.

In prior years, the Company made certain other business acquisitions. These purchases were effected 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 were each convertible into Class A common stock. In connection with such acquisitions, as of both June 30, 2012 and December 31, 2011, 47,474 shares of Class A common stock were issuable on a non-contingent basis. At June 30, 2012, no shares of Series A preferred stock were convertible into shares of Class A common stock on a contingent or a non-contingent basis. See Note 12 of Notes to Condensed Consolidated Financial Statements for additional information relating to preferred stock.

- Definition

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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: 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 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
-Appendix F

Reference 18: 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 19: 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.

+ Details

Property - Net

6 Months Ended

Jun. 30, 2012

Property - Net [Abstract]

PROPERTY-NET

8.	*PROPERTY-NET*

At June 30, 2012 and December 31, 2011 property-net consists of the following:


	Estimated Depreciable Life in Years		June 30, 2012		December 31, 2011
Buildings		33	$	158,939	$	164,168
Leasehold improvements		5 - 20		167,957		159,191
Furniture and equipment		3 - 10		108,025		85,396
Construction in progress				25,058		26,347

Total				459,979		435,102
Less – Accumulated depreciation and amortization				261,690		266,673

Property-net			$	198,289	$	168,429

- Definition

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.

+ References + Details

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2012

Goodwill and Other Intangible Assets [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

9.	*GOODWILL AND OTHER INTANGIBLE ASSETS*

The components of goodwill and other intangible assets at June 30, 2012 and December 31, 2011 are presented below:


	June 30,		December 31,
	2012		2011
Goodwill	$	360,993	$	356,657
Other intangible assets (net of accumulated amortization)		33,175		36,442

Total	$	394,168	$	393,099

At June 30, 2012 and December 31, 2011, goodwill of $296,452 and $292,116, respectively, was attributable to the Company’s Financial Advisory segment and, at such respective dates, $64,541 of goodwill was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the six month periods ended June 30, 2012, and 2011 are as follows:


	Six Months Ended June 30,
	2012		2011
Balance, January 1	$	356,657	$	313,229
Business acquisitions		4,272		–
Foreign currency translation adjustments		64		7,182

Balance, June 30	$	360,993	$	320,411

The gross cost and accumulated amortization of other intangible assets as of June 30, 2012 and December 31, 2011, by major intangible asset category, are as follows:


	June 30, 2012						December 31, 2011
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	8,510	$	22,230	$	30,740	$	7,122	$	23,618
Management fees, customer relationships and non-compete agreements		33,035		22,090		10,945		32,624		19,800		12,824

Total	$	63,775	$	30,600	$	33,175	$	63,364	$	26,922	$	36,442

Amortization expense of intangible assets for the three month and six month periods ended June 30, 2012 was $2,560 and $3,678, respectively, and for the three month and six month periods ended June 30, 2011 was $1,706 and $3,180, respectively. Estimated future amortization expense is as follows:


Year Ending December 31,	Future Amortization Expense (a)
2012 (July 1 through December 31)	$	2,641
2013		9,372
2014		8,901
2015		6,953
2016		5,308

Total	$	33,175

(a)

Approximately 45% of intangible asset amortization is attributable to a noncontrolling interest.

- Definition

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.

+ References + Details

Senior Debt

6 Months Ended

Jun. 30, 2012

Senior Debt [Abstract]

SENIOR DEBT

10.

SENIOR DEBT

Senior debt is comprised of the following as of June 30, 2012 and December 31, 2011:


	Initial Principal Amount				Annual Interest Rate			Outstanding As Of
			Maturity Date					June 30, 2012		December 31, 2011
			Maturity Date					June 30, 2012		December 31, 2011
Lazard Group 7.125% Senior Notes	$	550,000		5/15/15		7.125	%	$	528,500	$	528,500
Lazard Group 6.85% Senior Notes		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group Credit Facility		150,000		4/29/13		1.92	%		–		–

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

Lazard Group has in place a $150,000, three-year senior revolving credit facility with a group of lenders (the “Credit Facility”), which expires in April, 2013. 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 June 30, 2012, the annual interest rate for a loan accruing interest (based on the Federal Funds overnight rate), including the applicable margin, was 1.92%. At June 30, 2012 and December 31, 2011, no amounts were outstanding under the Credit Facility.

The Credit Facility, as amended, contains customary terms and conditions, including certain financial covenants. In addition, the Credit Facility, as well as the indenture and the supplemental indentures relating to Lazard Group’s senior notes, contain certain covenants, events of default and other customary provisions, including, where applicable, a customary make-whole provision in the event of early redemption. As of June 30, 2012, the Company was in compliance with all of these provisions. All of the Company’s senior debt obligations are unsecured.

As of June 30, 2012, the Company had approximately $299,000 in unused lines of credit available to it, including the Credit Facility, and unused lines of credit available to LFB of approximately $88,000 (at June 30, 2012, exchange rates) and Edgewater of $55,000. In addition, LFB has access to the Eurosystem Covered Bond Purchase Program of the Banque de France.

The Company’s senior debt at June 30, 2012 and December 31, 2011 is recorded at historical amounts. At those dates, the fair value of such senior debt outstanding was approximately $1,186,000 and $1,138,000, respectively, and exceeded the aggregate carrying value by approximately $109,000 and $61,000, respectively. The fair value of the Company’s senior 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 Company’s senior debt would be categorized within Level 2 of the hierarchy of fair value measurements if carried at fair value.

- Definition

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.

+ References + Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

11.

COMMITMENTS AND CONTINGENCIES

Leases—The Company has various leases and other contractual commitments arising in the ordinary course of business. In the opinion of management, the fulfillment of such commitments, in accordance with their terms, will not have a material adverse effect on the Company’s consolidated financial position or results 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 June 30, 2012, LFB had approximately $5,000 of such indemnifications and held approximately $4,000 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 June 30, 2012 aggregated approximately $22,000. 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 5, 7 and 14 of Notes to Condensed Consolidated Financial Statements for information regarding commitments relating to investment capital funding commitments, 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 June 30, 2012, LFB had no such underwriting commitments.

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.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: 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 7: 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.

+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2012

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

12.

STOCKHOLDERS’ EQUITY

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 six month periods ended June 30, 2012 and 2011, Lazard Group distributed the following amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd (none of which related to tax distributions):


	Six Months Ended June 30,
	2012		2011
LAZ-MD Holdings	$	2,416	$	2,174
Subsidiaries of Lazard Ltd		43,011		32,855

Total	$	45,427	$	35,029

Pursuant to the 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— During the six month periods ended June 30, 2012 and 2011, Lazard Ltd issued 186,701 and 728,385 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 February 2011, October 2011 and April 2012, the Board of Directors of Lazard Ltd authorized, on a cumulative basis, the repurchase of up to $250,000, $125,000 and $125,000, respectively, in aggregate cost of Class A common stock and Lazard Group common membership interests through December 31, 2012, December 31, 2013 and December 31, 2013, respectively. The Company’s prior share repurchase authorizations expired on December 31, 2009 and December 31, 2011. The Company expects that the share repurchase program, with respect to the Class A common stock, will continue to be used, among other ways, to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2005 Equity Incentive Plan (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. During the six month period ended June 30, 2012, the Company purchased 5,706,592 shares of Class A common stock, at an aggregate cost of $152,413 (no Lazard Group common membership interests were purchased during such six month period).

As of June 30, 2012, $184,730 of the current aggregate share repurchase amount authorized as of such date remained available under the share repurchase program, all of which expires on December 31, 2013. In addition, under the terms of the 2005 Plan and the 2008 Plan, upon the vesting of restricted stock units (“RSUs”), shares of Class A common stock may be withheld by the Company to cover the recipient’s estimated income tax liability (see Note 13 of Notes to Condensed Consolidated Financial Statements).

During the first half of 2012, the Company had written trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934 in place, pursuant to which it effected stock repurchases through the open market.

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. As of both June 30, 2012 and December 31, 2011, 7,921 shares of Series A preferred stock were outstanding, and no shares of Series B preferred stock were outstanding at such respective dates.

Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”)—The components of AOCI at June 30, 2012 and December 31, 2011 are as follows:


	June 30,			December 31,
	2012			2011
Currency translation adjustments	$	1,765		$	3,719
Interest rate hedge		(3,030	)		(3,557	)
Employee benefit plans		(97,050	)		(92,637	)

Total AOCI		(98,315	)		(92,475	)
Less amount attributable to noncontrolling interests		(4,144	)		(4,111	)

Total Lazard Ltd AOCI	$	(94,171	)	$	(88,364	)

Noncontrolling Interests—Noncontrolling interests principally represent interests held in (i) Lazard Group by LAZ-MD Holdings and (ii) Edgewater’s management vehicles that the Company is deemed to control, but does not own.

As of June 30, 2012 and December 31, 2011, LAZ-MD Holdings held approximately 5.1% and 5.2%, 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 six month periods ended June 30, 2012, and 2011:


	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, 2011		119,697,936		94.0	%		7,652,625			6.0	%		127,350,561
Activity January 1, 2011 to June 30, 2011:
Common membership interest activity in connection with:
Exchanges for Class A common stock		728,385					(728,385	)					–
Repurchase of common membership interests from LAZ-MD Holdings		–					(19,032	)					(19,032	)

Balance, June 30, 2011		120,426,321		94.6	%		6,905,208			5.4	%		127,331,529


Balance, January 1, 2012		123,009,311		94.8	%		6,756,779			5.2	%		129,766,090
Activity January 1, 2012 to June 30, 2012:
Common membership interest activity in connection with:
Exchanges for Class A common stock		186,701					(186,701)						–

Balance, June 30, 2012		123,196,012		94.9	%		6,570,078			5.1	%		129,766,090

The change in Lazard Ltd’s ownership in Lazard Group in the six month periods ended June 30, 2012 and 2011 did not materially impact Lazard Ltd’s stockholders’ equity.

The tables below summarize net income attributable to noncontrolling interests for the three month and six month periods ended June 30, 2012 and 2011 and noncontrolling interests as of June 30, 2012 and December 31, 2011 in the Company’s accompanying condensed consolidated financial statements:


	Net Income (Loss) Attributable To Noncontrolling Interests
	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
LAZ-MD Holdings		$1,694		$	4,012		$	3,019		$	7,746
Edgewater		1,698			5,882			3,872			6,905
Other		(51	)		(332	)		(46	)		(113	)

Total		$3,341		$	9,562		$	6,845		$	14,538


	Noncontrolling Interests As Of
	June 30, 2012		December 31, 2011
LAZ-MD Holdings	$	34,506	$	31,954
Edgewater		86,235		91,713
Other		1,242		17,046

Total	$	121,983	$	140,713

Dividend Declared, July, 2012—On July 25, 2012, the Board of Directors of Lazard Ltd declared a quarterly dividend of $0.20 per share on its Class A common stock, payable on August 24, 2012, to stockholders of record on August 6, 2012.

- Definition

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.

+ References

Reference 1: 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.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
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-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 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 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-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 16: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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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 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
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Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
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Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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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 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Incentive Plans

6 Months Ended

Jun. 30, 2012

Incentive Plans [Abstract]

INCENTIVE PLANS

13.

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 six month periods ended June 30, 2012 and 2011 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, restricted stock units and other equity-based awards. Each stock unit or similar award granted under the 2005 Plan represents a contingent right to receive one share of Class A common stock, at no cost to the recipient. The fair value of such awards is generally determined based on the closing market price of Class A common stock on the day prior to 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).

The following is a summary of the impact of share-based incentive plans on “compensation and benefits” expense within the Company’s accompanying condensed consolidated statements of operations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Share-based incentive compensation:
RSUs		$63,428	$	57,552		$145,319	$	142,410
Deferred stock units (“DSUs”)		1,218		1,068		1,288		1,124
Restricted stock		1,704		356		5,879		8,999

Total		$66,350	$	58,976		$152,486	$	152,533

The Company’s incentive plans are described below.

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, RSUs are included in the diluted weighted average shares of Class A common stock outstanding using the “treasury stock” method.

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 six month periods ended June 30, 2012 and 2011, 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:


	Six Months Ended June 30,
	2012		2011
Number of RSUs issued		310,756		140,613
Charges to retained earnings, net of estimated forfeitures		$7,277		$5,337

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 49,735 and 26,859 DSUs granted during the six month periods ended June 30, 2012 and 2011, respectively. Their remaining compensation is payable in cash, which they may elect to receive in the form of additional DSUs under the Director’s Fee Deferral Unit Plan described below. DSUs are convertible into Class A common stock at the time of cessation of service to the Board, 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. 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 six month periods ended June 30, 2012 and 2011.

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 will 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 six month periods ended June 30, 2012 and 2011, 5,489 and 2,942 DSUs, respectively, had been granted pursuant to such Plan.

DSU awards are expensed at their fair value on their date of grant, inclusive of amounts related to the Directors’ Fee Deferral Unit Plan.

The following is a summary of activity relating to RSUs and DSUs during the six month periods ended June 30, 2012 and 2011:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2012		20,751,829		$	36.84		140,660		$	34.83
Granted (including 310,756 RSUs relating to dividend participation)		7,847,541		$	27.51		55,224		$	23.32
Forfeited		(311,601	)	$	35.46		–			–
Vested		(3,631,932	)	$	33.83		–			–

Balance, June 30, 2012		24,655,837		$	34.32		195,884		$	31.58


Balance January 1, 2011		22,108,635		$	35.67		121,737		$	34.46
Granted (including 140,613 RSUs relating to dividend participation)		6,309,310		$	44.93		29,801		$	37.72
Forfeited		(223,365	)	$	37.90		–			–
Vested		(7,616,386	)	$	39.21		(16,120	)	$	34.76

Balance, June 30, 2011		20,578,194		$	37.18		135,418		$	35.14

In connection with RSUs which vested during the six month periods ended June 30, 2012 and 2011, the Company satisfied certain employees’ tax obligations in lieu of issuing 967,828 and 2,226,829 shares of Class A common stock in the respective six month periods. Accordingly, 2,664,104 and 5,389,557 shares of Class A common stock held by the Company were delivered during the six month periods ended June 30, 2012 and 2011, respectively.

As of June 30, 2012, unrecognized RSU compensation expense, adjusted for estimated forfeitures, was approximately $311,000, with such unrecognized compensation expense expected to be recognized over a weighted average period of approximately 1.4 years subsequent to June 30, 2012. 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 six month periods ended June 30, 2012 and 2011:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2012		95,332		$	37.63
Granted/Exchanged		577,323		$	29.25
Forfeited		(18,921	)	$	29.51
Vested		(131,743	)	$	28.63

Balance, June 30, 2012		521,991		$	30.93


Balance, January 1, 2011		95,332		$	37.63
Granted		327,238		$	43.70
Vested		(327,238	)	$	43.70

Balance, June 30, 2011		95,332		$	37.63

In connection with shares of restricted Class A common stock that vested during the six month periods ended June 30, 2012 and 2011, the Company satisfied certain employees’ tax obligations in lieu of delivering 28,129 and 68,866 shares of Class A common stock during the respective periods. Accordingly, 103,614 and 258,372 shares of Class A common stock held by the Company were delivered during the respective six month periods.

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 June 30, 2012, unrecognized restricted stock expense was approximately $10,000, with such expense to be recognized over a weighted average period of approximately 1.9 years subsequent to June 30, 2012.

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 and Other Similar Deferred Compensation Arrangements

Commencing 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, which generally require future service as a condition for vesting, the Company recorded a prepaid compensation asset and a corresponding compensation liability on the grant date based upon the fair value of the award. The prepaid asset is amortized on a straight-line basis over the applicable vesting periods or requisite service periods, and is charged to “compensation and benefits” expense within the Company’s consolidated statement of operations. 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, which contemplates the impact of estimated forfeitures, and is adjusted for changes in fair value primarily related to changes in value of the underlying investments. 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 investments which are currently expected to be delivered upon settlement of Lazard Fund Interests awards, which is reported in “revenue-other” in the consolidated statement of operations (see Note 6 of Notes to Condensed Consolidated Financial Statements).

The following is a summary of activity relating to Lazard Fund Interests and other similar deferred compensation arrangements during the six month period ended June 30, 2012:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2012	$	17,782		$	29,900
Granted		64,631			64,631
Settled		–			(8,641)
Forfeited		(1,008)			(993)
Amortization (including grants of awards to retirement-eligible recipients)		(16,985	)		–
Decrease in fair value		–			(89	)
Other		979			833

Balance, June 30, 2012	$	65,399		$	85,641

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 2.1 years subsequent to June 30, 2012.

The following is a summary of the impact of Lazard Fund Interests and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three and six month periods ended June 30, 2012 and 2011:


	Three Months Ended June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
Amortization (including grants of awards to retirement-eligible recipients)		$10,800			$2,413		$16,985			$5,054
Change in fair value of compensation liability		(2,856	)		–		(89	)		–

Total		$7,944			$2,413		$16,896			$5,054

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-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 AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-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.

+ Details

Employee Benefit Plans

6 Months Ended

Jun. 30, 2012

Employee Benefit Plans [Abstract]

EMPLOYEE BENEFIT PLANS

14.

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.

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 made a contribution to the U.S. pension plans during the six month period ended June 30, 2012 of approximately $700.

On April 30, 2012, the Company and the Trustees of the U.K. pension plans concluded the December 31, 2010 triennial valuations of the plans. In connection with such valuations and a previously negotiated agreement with the Trustees, the Company and the Trustees agreed upon pension funding terms (the “agreement”) (which superseded the terms of an agreement reached in June 2009 with respect to the previous triennial valuation as of December 31, 2007) 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 a previously established escrow account, (ii) will make contributions of 1 million British pounds during each year from 2012 through 2020 inclusive and (iii) amended the previous escrow arrangement into an account security arrangement covering 10.2 million British pounds, committing to make annual contributions of 1 million British pounds into such account security arrangement during each year from 2014 through 2020. It was further agreed that, 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 assets from the account security arrangement would be released into the plans at that date. Additionally, the Company agreed to fund the expenses of administering the plans, including certain regulator levies and the cost of other professional advisors to the plans. The terms of the agreement are subject to adjustment based on the results of subsequent triennial valuations. The aggregate amount in the account security arrangement at June 30, 2012 of approximately $16,000 has been recorded in “cash deposited with clearing organizations and other segregated cash” on the accompanying condensed consolidated statement of financial condition. Income on the escrow balance accretes to the Company and is recorded in interest income.

During the six month period ended June 30, 2012, the Company contributed 1 million British pounds ($1,576 at June 30, 2012 exchange rates) to these U.K. pension plans, and no contributions were made to other non-U.S. pension plans.

The following table summarizes the components of net periodic benefit cost for the three month and six month periods ended June 30, 2012 and 2011:


	Pension Plans						Post-Retirement Medical Plans
	Three Months Ended June 30,
	2012			2011			2012		2011
Components of Net Periodic Benefit Cost:
Service cost	$	166		$	169		$	19	$	19
Interest cost		6,885			7,092			52		69
Expected return on plan assets		(6,622	)		(7,644	)		–		–
Amortization of:
Prior service cost		687			762			–		–
Net actuarial loss		420			66			–		–
Settlement loss (a)		886			–			–		–

Net periodic benefit cost	$	2,422		$	445		$	71	$	88


	Pension Plans						Post-Retirement Medical Plans
	Six Months Ended June 30,
	2012			2011			2012		2011
Components of Net Periodic Benefit Cost:
Service cost	$	338		$	332		$	30	$	34
Interest cost		13,787			14,159			105		139
Expected return on plan assets		(13,294	)		(15,266	)		–		–
Amortization of:
Prior service cost		1,388			1,502			–		–
Net actuarial loss		831			129			–		–
Settlement loss (a)		886			–			–		–

Net periodic benefit cost	$	3,936		$	856		$	135	$	173

(a) During the three month period ended June 30, 2012, the Company’s pension plans in the U.S. made lump sum benefit payments in excess of the plans’ annual service and interest costs, which, under U.S. GAAP, requires that the plans’ obligations and assets be remeasured. The remeasurement of the plans resulted in the recognition of actuarial losses totaling $1,935 recorded in “other comprehensive income (loss), net of tax” (“OCI”), which, combined with a settlement loss of $886 recognized in “compensation and benefits” expense, resulted in a net charge to OCI of $1,049.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: 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 3: 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 4: 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 5: 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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 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 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-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 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 9: 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 10: 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 11: 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 12: 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 13: http://www.xbrl.org/2003/role/presentationRef
-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 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
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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.

+ Details

Income Taxes

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

INCOME TAXES

15.

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 New York City Unincorporated Business Tax (“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 Company recorded income tax provisions of $10,371 and $19,138 for the three month and six month periods ended June 30, 2012, respectively, and $17,636 and $31,099 for the three month and six month periods ended June 30, 2011, respectively, representing effective tax rates of 23.3%, 23.2%, 19.8% and 19.1%, respectively. The difference between the U.S. federal statutory rate of 35.0% and the effective tax rates reflected above principally relates to (i) Lazard Group primarily operating as a limited liability company in the U.S., (ii) foreign source income (loss) not subject to U.S. income taxes, (iii) Lazard Group’s income from U.S. operations attributable to noncontrolling interests and (iv) U.S. state and local taxes (primarily UBT), which are incremental to the U.S. federal statutory tax rate.

Substantially all of Lazard’s foreign operations 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 earnings attributable to “non-pass-through” entities would not result in the recognition of a material amount of additional U.S. income taxes.

Tax Receivable Agreement

The redemption of historical partner interests in connection with the Company’s separation and recapitalization that occurred in May 2005 and subsequent exchanges 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 intangible assets of Lazard Group. The tax receivable agreement dated as of May 10, 2005 with LFCM Holdings LLC (“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. The Company calculates this provision annually and includes such amounts in operating expenses on its consolidated statements of operations once the results of operations for the full year are known. As a result, there is no provision for such payments in the six month periods ended June 30, 2012 and 2011. If any provision is required pursuant to the tax receivable agreement, such amount would be fully offset by a reduction in the Company’s income tax expense.

- Definition

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.

+ References

+ Details

Net Income Per Share of Class A Common Stock

6 Months Ended

Jun. 30, 2012

Net Income Per Share of Class A Common Stock [Abstract]

NET INCOME PER SHARE OF CLASS A COMMON STOCK

16.

NET INCOME PER SHARE OF CLASS A COMMON STOCK

The Company’s basic and diluted net income per share calculations for the three month and six month periods ended June 30, 2012 and 2011 are computed as described below.

Basic Net Income Per Share

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

Diluted Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective periods as in the basic net income per share calculation described above, plus, to the extent applicable and dilutive, (i) interest expense on convertible debt, (ii) changes in net income 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 periods as in the basic net income 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 per share and weighted average shares outstanding for the three month and six month periods ended June 30, 2012 and 2011 are presented below:


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Net income attributable to Lazard Ltd		$30,821		$62,004		$56,373		$117,011
Add - adjustment associated with Class A common stock issuable on a non-contingent basis		2		103		2		199

Net income attributable to Lazard Ltd - basic		30,823		62,107		56,375		117,210
Add - dilutive effect, as applicable, of:
Adjustments to income relating to interest expense and changes in net income attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt in 2011, convertible preferred stock and exchangeable interests, net of tax		1,686		4,649		2,876		9,074

Net income attributable to Lazard Ltd - diluted		$32,509		$66,756		$59,251		$126,284


Weighted average number of shares of Class A common stock outstanding		117,478,380		115,326,051		118,079,120		113,503,750
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		756,940		3,781,335		653,311		3,717,320

Weighted average number of shares of Class A common stock outstanding - basic		118,235,320		119,107,386		118,732,431		117,221,070
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 in 2011, convertible preferred stock and exchangeable interests		16,401,615		20,240,547		16,883,126		21,748,193

Weighted average number of shares of Class A common stock outstanding - diluted		134,636,935		139,347,933		135,615,557		138,969,263

Net income attributable to Lazard Ltd per share of Class A common stock:
Basic		$0.26		$0.52		$0.47		$1.00

Diluted		$0.24		$0.48		$0.44		$0.91

Related Parties

6 Months Ended

Jun. 30, 2012

Related Parties [Abstract]

RELATED PARTIES

17.

RELATED PARTIES

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


	June 30, 2012		December 31, 2011
Receivables
LFCM Holdings		$10,416		$14,790
Other		3,686		3,711

Total		$14,102		$18,501

Payables
LFCM Holdings		$ 6,189		$ 4,850
Other		891		1,225

Total		$ 7,080		$ 6,075

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 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 certain agreements that addressed various business matters associated with the separation, including agreements related to administrative and support services (the “administrative services agreement”), employee benefits, insurance matters and licensing. In addition, LFCM Holdings and Lazard Group entered into a business alliance agreement (the “business alliance agreement”). Certain of these agreements are described in more detail in the Company’s Form 10-K.

For the three month and six month periods ended June 30, 2012, amounts recorded by Lazard Group relating to the administrative services agreement amounted to $702 and $1,515, respectively, and net referral fees for underwriting, private placement, M&A and restructuring transactions under the business alliance agreement amounted to $3,552 and $4,366, respectively. For the three month and six month periods ended June 30, 2011, amounts recorded by Lazard Group relating to the administrative services agreement amounted to $578 and $1,192, respectively, and net referral fees for underwriting, private placement, M&A and restructuring transactions under the business alliance agreement amounted to $6,200 and $13,147, 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 June 30, 2012 and December 31, 2011 include $3,825 and $11,862, respectively, related to administrative and support services, and other receivables which include sublease income and reimbursement of expenses incurred on behalf of LFCM Holdings, and $6,591 and $2,928, respectively, related to referral fees for underwriting and private placement transactions. Payables to LFCM Holdings and its subsidiaries at June 30, 2012 and December 31, 2011 consist of $6,189 and $2,060, respectively, principally relating to certain advances and referral fees for Financial Advisory transactions and, at December 31, 2011, obligations pursuant to the tax receivable agreement of $2,790 (see Note 15 of Notes to Condensed Consolidated Financial Statements).

Other

Other receivables and payables at June 30, 2012 and December 31, 2011 primarily relate to referral fees for restructuring and M&A transactions with MBA Lazard Holdings S.A. and its affiliates, an Argentina-based group in which the Company has a 50% ownership interest, and 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 three month and six month periods ended June 30, 2012, such charges amounted to $187 and $375, respectively. For the three month and six month periods ended June 30, 2011, such charges amounted to $187 and $375, respectively.

- Definition

The entire disclosure for related party transactions. 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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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))
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Reference 6: 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=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

Reference 9: 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.

+ Details

Regulatory Authorities

6 Months Ended

Jun. 30, 2012

Regulatory Authorities [Abstract]

REGULATORY AUTHORITIES

18.

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 June 30, 2012, LFNY’s regulatory net capital was $74,299, which exceeded the minimum requirement by $68,933.

Certain U.K. subsidiaries of the Company, including LCL, Lazard Fund Managers Limited and Lazard Asset Management Limited (the “U.K. Subsidiaries”) are regulated by the Financial Services Authority. At June 30, 2012, the aggregate regulatory net capital of the U.K. Subsidiaries was $130,437, which exceeded the minimum requirement by $106,893.

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 June 30, 2012, the consolidated regulatory net capital of CFLF was $168,117, which exceeded the minimum requirement set for regulatory capital levels by $75,989.

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 June 30, 2012, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $107,826, which exceeded the minimum required capital by an aggregate of $84,178.

At June 30, 2012, 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., by the Board of Governors of the Federal Reserve, or the European Union, which we are examining. 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.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
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-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958573-112826

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-Name Accounting Standards Codification
-Topic 942
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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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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Audit and Accounting Guide (AAG)
-Number AAG-DEP
-Paragraph 15, 16, 17
-IssueDate 2006-05-01
-Chapter 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.

+ Details

Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

SEGMENT INFORMATION

19.

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 three month and six month periods ended June 30, 2012 and 2011 is prepared using the following methodology:

•

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

•

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

•

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

The Company 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.

Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets:


		Three Months Ended June 30,						Six Months Ended June 30,
		2012			2011			2012			2011
Financial Advisory
	Net Revenue	$	242,624		$	249,191		$	519,820		$	478,036
	Operating Expenses		231,200			214,217			481,097			427,783

	Operating Income	$	11,424		$	34,974		$	38,723		$	50,253


Asset Management
	Net Revenue	$	211,053		$	244,855		$	425,580		$	471,708
	Operating Expenses		156,619			160,914			317,120			310,118

	Operating Income	$	54,434		$	83,941		$	108,460		$	161,590


Corporate
	Net Revenue	$	(16,767	)	$	(16,754	)	$	(22,451	)	$	(34,429	)
	Operating Expenses		4,558			12,959			42,376			14,766

	Operating Loss	$	(21,325	)	$	(29,713	)	$	(64,827	)	$	(49,195	)


Total
	Net Revenue	$	436,910		$	477,292		$	922,949		$	915,315
	Operating Expenses		392,377			388,090			840,593			752,667

	Operating Income	$	44,533		$	89,202		$	82,356		$	162,648


	As Of
	June 30, 2012		December 31, 2011
Total Assets
Financial Advisory	$	747,456	$	767,699
Asset Management		491,239		583,524
Corporate		1,739,159		1,730,713

Total	$	2,977,854	$	3,081,936

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

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-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: 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.

+ Details

Recent Accounting Developments (Policies)	6 Months Ended
Recent Accounting Developments (Policies)	Jun. 30, 2012
RECENT ACCOUNTING DEVELOPMENTS [Abstract]
Basis of Presentation	*Basis of Presentation* The accompanying condensed consolidated financial statements of Lazard Ltd have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard Ltd’s Annual Report on Form 10-K for the year ended December 31, 2011 (the “Form 10-K”). The accompanying December 31, 2011 condensed consolidated statement of financial condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management’s knowledge of current events and actions that Lazard may undertake in the future, actual results may differ materially from the estimates. The consolidated results of operations for the three month and six month periods ended June 30, 2012 are not necessarily indicative of the results to be expected for any future interim or annual period. The condensed 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”); the 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 (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries. 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.
Fair Value Measurements	Fair Value Measurements—In the first quarter of 2012, the Company adopted the amended fair value measurement guidance issued by the Financial Accounting Standards Board (the “FASB”), which the FASB stated 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 are 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 became effective for interim and annual periods beginning after December 15, 2011 and is applied prospectively. The adoption of the amended fair value measurement guidance did not have a material impact on the Company’s consolidated financial statements, primarily because substantially all Level 3 assets are carried at net asset value (“NAV”) or its equivalent.
Other Comprehensive Income	Other Comprehensive Income—In the first quarter of 2012, the Company adopted the FASB’s amended guidance regarding the presentation of comprehensive income, which the FASB stated was designed to improve comparability, consistency and transparency. The amendment required that all changes in comprehensive income be presented either in (i) a single continuous statement of comprehensive income or in (ii) two separate but consecutive statements. The amendment was to be applied retrospectively and is effective with interim and annual periods beginning after December 15, 2011, with early adoption permitted. The Company elected the two-statement method.

Investments (Tables)

6 Months Ended

Jun. 30, 2012

Investments [Abstract]

Company's investments and securities sold, not yet purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at June 30, 2012 and December 31, 2011:


	June 30,		December 31,
	2012		2011
Debt	$	20,270	$	36,966

Equities (a)		212,314		156,053

Other:
Interests in alternative asset management funds (a)		36,500		20,610
Fixed income funds (a)		47,165		31,121
Private equity		113,991		122,718
Equity method investments		9,443		11,053

		207,099		185,502

Total		439,683		378,521
Less:
Interest-bearing deposits (included in “debt” above)		2,715		2,834
Equity method investments		9,443		11,053

Investments, at fair value	$	427,525	$	364,634

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	1,097	$	4,282

(a)

Recognized gross investment gains and losses on investments


	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2012		2011		2012		2011
Gross investment gains	$	1,715	$	8,830	$	29,359	$	15,205
Gross investment losses	$	3,052	$	2,235	$	4,036	$	3,251

Schedule of trading securities gross unrealized investment gains and losses

The table above includes gross unrealized investment gains and losses pertaining to “trading” securities as follows:
	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2012		2011		2012		2011
Gross unrealized investment gains	$	373	$	641	$	1,418	$	1,214
Gross unrealized investment losses	$	1,721	$	193	$	1,721	$	313

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis



	June 30, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	13,302	$	4,253	$	–	$	17,555
Equities		168,187		43,936		191		212,314
Other (excluding equity method investments):
Interests in alternative asset management funds		–		31,884		4,616		36,500
Fixed income funds		33,211		13,954		–		47,165
Private equity		–		–		113,991		113,991
Derivatives		–		4,449		–		4,449

Total	$	214,700	$	98,476	$	118,798	$	431,974

Liabilities:
Securities sold, not yet purchased	$	1,097	$	–	$	–	$	1,097
Derivatives		–		87,495		–		87,495

Total	$	1,097	$	87,495	$	–	$	88,592


	December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	17,111	$	17,021	$	–	$	34,132
Equities		115,380		37,332		3,341		156,053
Other (excluding equity method investments):
Interests 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	$	160,030	$	78,635	$	133,100	$	371,765

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

Total	$	4,282	$	30,713	$	–	$	34,995

Summary of changes in fair value of the Company's Level 3 assets

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets for the three month and six month periods ended June 30, 2012 and 2011:


	Three Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	227	$	5		$	–	$	(30	)	$	(11	)	$	191
Interests in alternative asset management funds		5,905		(38	)		10		(1,261	)		–			4,616
Private equity		116,563		4,786			56		(4,873	)		(2,541	)		113,991

Total Level 3 Assets	$	122,695	$	4,753		$	66	$	(6,164	)	$	(2,552	)	$	118,798


	Six Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	3,341	$	5	$	10	$	(3,160	)	$	(5	)	$	191
Interests in alternative asset management funds		7,041		89		10		(2,524	)		–			4,616
Private equity		122,718		12,350		2,752		(22,745	)		(1,084	)		113,991

Total Level 3 Assets	$	133,100	$	12,444	$	2,772	$	(28,429	)	$	(1,089	)	$	118,798


	Three Months Ended June 30, 2011
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments		Ending Balance
Investments:
Equities	$	129	$	3	$	–	$	–		$	3	$	135
Private equity		171,487		3,545		922		(2,052	)		802		174,704

Total Level 3 Assets	$	171,616	$	3,548	$	922	$	(2,052	)	$	805	$	174,839


	Six Months Ended June 30, 2011
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		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	$	3	$	–	$	(195	)	$	11	$	135
Private equity		163,482		3,824		13,075		(9,160	)		3,483		174,704

Total Level 3 Assets	$	163,798	$	3,827	$	13,075	$	(9,355	)	$	3,494	$	174,839

Fair value of certain investments based on NAV


	June 30, 2012
					% of			Estimated Liquidation Period of Investments Not Redeemable									Investments Redeemable
	Fair Value		Unfunded Commitments		Fair Value Not Redeemable			% Next 5 Years			% 5-10 Years			% Thereafter			Redemption Frequency	Redemption Notice Period
Equity funds	$	43,908	$	–		2	%		1	%		0	%		1	%	Quarterly	60 Days
Interests in alternative asset management funds		36,500		–		0	%		0	%		0	%		0	%	Quarterly	>90 Days
Fixed income funds		13,954		–		0	%		0	%		0	%		0	%	Monthly	60 Days
Private equity funds		112,392		35,726		100	%		25	%		35	%		40	%	NA	NA

Total	$	206,754	$	35,726


	December 31, 2011
					% of			Estimated Liquidation Period of Investments Not Redeemable									Investments Redeemable
	Fair Value		Unfunded Commitments		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	NA

Total	$	185,970	$	52,197

- Definition

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 (loss), 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, issues, 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.

+ References + Details

Derivatives (Tables)

6 Months Ended

Jun. 30, 2012

Derivatives [Abstract]

Fair Value of Derivatives Reported on Consolidated Statements of Financial Condition


	June 30,		December 31,
	2012		2011
Derivative Assets:
Forward foreign currency exchange rate contracts		$1,084	$	4,245
Equity and fixed income swaps and other		3,365		2,886

Total		$4,449	$	7,131

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,491	$	445
Interest rate swaps		247		277
Equity and fixed income swaps		116		91
Lazard Fund Interests and other similar deferred compensation arrangements (see Note 13)		85,641		29,900

Total	$	87,495	$	30,713

Net Gains (Losses) With Respect to Derivative Instruments Not Designated as Hedging Instruments


	Three Months Ended June 30,					Six Months Ended June 30,
	2012		2011			2012			2011
Forward foreign currency exchange rate contracts	$	4,051	$	(3,139	)	$	2,129		$	(9,397	)
Equity and fixed income swaps and other		3,630		(432	)		(6,625	)		(2,721	)
Lazard Fund Interests and other similar deferred compensation arrangements		2,856		–			89			–

Total	$	10,537	$	(3,571	)	$	(4,407	)	$	(12,118	)

Property - Net (Tables)

6 Months Ended

Jun. 30, 2012

Property - Net [Abstract]

Property-net

At June 30, 2012 and December 31, 2011 property-net consists of the following:


	Estimated Depreciable Life in Years		June 30, 2012		December 31, 2011
Buildings		33	$	158,939	$	164,168
Leasehold improvements		5 - 20		167,957		159,191
Furniture and equipment		3 - 10		108,025		85,396
Construction in progress				25,058		26,347

Total				459,979		435,102
Less – Accumulated depreciation and amortization				261,690		266,673

Property-net			$	198,289	$	168,429

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2012

Goodwill and Other Intangible Assets [Abstract]

Components of goodwill and other intangible assets

The components of goodwill and other intangible assets at June 30, 2012 and December 31, 2011 are presented below:


	June 30,		December 31,
	2012		2011
Goodwill	$	360,993	$	356,657
Other intangible assets (net of accumulated amortization)		33,175		36,442

Total	$	394,168	$	393,099

Changes in the carrying amount of goodwill

Changes in the carrying amount of goodwill for the six month periods ended June 30, 2012, and 2011 are as follows:


	Six Months Ended June 30,
	2012		2011
Balance, January 1	$	356,657	$	313,229
Business acquisitions		4,272		–
Foreign currency translation adjustments		64		7,182

Balance, June 30	$	360,993	$	320,411

Gross cost and accumulated amortization of other intangible assets

The gross cost and accumulated amortization of other intangible assets as of June 30, 2012 and December 31, 2011, by major intangible asset category, are as follows:


	June 30, 2012						December 31, 2011
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	8,510	$	22,230	$	30,740	$	7,122	$	23,618
Management fees, customer relationships and non-compete agreements		33,035		22,090		10,945		32,624		19,800		12,824

Total	$	63,775	$	30,600	$	33,175	$	63,364	$	26,922	$	36,442

Estimated future amortization expense


Year Ending December 31,	Future Amortization Expense (a)
2012 (July 1 through December 31)	$	2,641
2013		9,372
2014		8,901
2015		6,953
2016		5,308

Total	$	33,175

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References + Details

Senior Debt (Tables)

6 Months Ended

Jun. 30, 2012

Senior Debt [Abstract]

Senior debt

Senior debt is comprised of the following as of June 30, 2012 and December 31, 2011:


	Initial Principal Amount				Annual Interest Rate			Outstanding As Of
			Maturity Date					June 30, 2012		December 31, 2011
			Maturity Date					June 30, 2012		December 31, 2011
Lazard Group 7.125% Senior Notes	$	550,000		5/15/15		7.125	%	$	528,500	$	528,500
Lazard Group 6.85% Senior Notes		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group Credit Facility		150,000		4/29/13		1.92	%		–		–

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

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Stockholders' Equity [Abstract]

Lazard Group distributed amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd


	Six Months Ended June 30,
	2012		2011
LAZ-MD Holdings	$	2,416	$	2,174
Subsidiaries of Lazard Ltd		43,011		32,855

Total	$	45,427	$	35,029

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”)—The components of AOCI at June 30, 2012 and December 31, 2011 are as follows:


	June 30,			December 31,
	2012			2011
Currency translation adjustments	$	1,765		$	3,719
Interest rate hedge		(3,030	)		(3,557	)
Employee benefit plans		(97,050	)		(92,637	)

Total AOCI		(98,315	)		(92,475	)
Less amount attributable to noncontrolling interests		(4,144	)		(4,111	)

Total Lazard Ltd AOCI	$	(94,171	)	$	(88,364	)

Changes in ownership interests

The following tables summarize the changes in ownership interests in Lazard Group held by Lazard Ltd and LAZ-MD Holdings during the six month periods ended June 30, 2012, and 2011:


	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, 2011		119,697,936		94.0	%		7,652,625			6.0	%		127,350,561
Activity January 1, 2011 to June 30, 2011:
Common membership interest activity in connection with:
Exchanges for Class A common stock		728,385					(728,385	)					–
Repurchase of common membership interests from LAZ-MD Holdings		–					(19,032	)					(19,032	)

Balance, June 30, 2011		120,426,321		94.6	%		6,905,208			5.4	%		127,331,529


Balance, January 1, 2012		123,009,311		94.8	%		6,756,779			5.2	%		129,766,090
Activity January 1, 2012 to June 30, 2012:
Common membership interest activity in connection with:
Exchanges for Class A common stock		186,701					(186,701)						–

Balance, June 30, 2012		123,196,012		94.9	%		6,570,078			5.1	%		129,766,090

Net income attributable to noncontrolling interests


	Net Income (Loss) Attributable To Noncontrolling Interests
	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
LAZ-MD Holdings		$1,694		$	4,012		$	3,019		$	7,746
Edgewater		1,698			5,882			3,872			6,905
Other		(51	)		(332	)		(46	)		(113	)

Total		$3,341		$	9,562		$	6,845		$	14,538


	Noncontrolling Interests As Of
	June 30, 2012		December 31, 2011
LAZ-MD Holdings	$	34,506	$	31,954
Edgewater		86,235		91,713
Other		1,242		17,046

Total	$	121,983	$	140,713

Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2012

Incentive Plans [Abstract]

Summary of the impact of share-based incentive plans on compensation and benefits expense

The following is a summary of the impact of share-based incentive plans on “compensation and benefits” expense within the Company’s accompanying condensed consolidated statements of operations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Share-based incentive compensation:
RSUs		$63,428	$	57,552		$145,319	$	142,410
Deferred stock units (“DSUs”)		1,218		1,068		1,288		1,124
Restricted stock		1,704		356		5,879		8,999

Total		$66,350	$	58,976		$152,486	$	152,533

Schedule of issuance of RSUs and charges to retained earnings


	Six Months Ended June 30,
	2012		2011
Number of RSUs issued		310,756		140,613
Charges to retained earnings, net of estimated forfeitures		$7,277		$5,337

Schedule of Activity Relating to RSUs and DSUs

The following is a summary of activity relating to RSUs and DSUs during the six month periods ended June 30, 2012 and 2011:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2012		20,751,829		$	36.84		140,660		$	34.83
Granted (including 310,756 RSUs relating to dividend participation)		7,847,541		$	27.51		55,224		$	23.32
Forfeited		(311,601	)	$	35.46		–			–
Vested		(3,631,932	)	$	33.83		–			–

Balance, June 30, 2012		24,655,837		$	34.32		195,884		$	31.58


Balance January 1, 2011		22,108,635		$	35.67		121,737		$	34.46
Granted (including 140,613 RSUs relating to dividend participation)		6,309,310		$	44.93		29,801		$	37.72
Forfeited		(223,365	)	$	37.90		–			–
Vested		(7,616,386	)	$	39.21		(16,120	)	$	34.76

Balance, June 30, 2011		20,578,194		$	37.18		135,418		$	35.14

Summary of Activity Related to Shares of Restricted Class A Common Stock

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the six month periods ended June 30, 2012 and 2011:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2012		95,332		$	37.63
Granted/Exchanged		577,323		$	29.25
Forfeited		(18,921	)	$	29.51
Vested		(131,743	)	$	28.63

Balance, June 30, 2012		521,991		$	30.93


Balance, January 1, 2011		95,332		$	37.63
Granted		327,238		$	43.70
Vested		(327,238	)	$	43.70

Balance, June 30, 2011		95,332		$	37.63

Summary of Fund Interests and Other Similar Deferred Compensation Arrangements

The following is a summary of activity relating to Lazard Fund Interests and other similar deferred compensation arrangements during the six month period ended June 30, 2012:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2012	$	17,782		$	29,900
Granted		64,631			64,631
Settled		–			(8,641)
Forfeited		(1,008)			(993)
Amortization (including grants of awards to retirement-eligible recipients)		(16,985	)		–
Decrease in fair value		–			(89	)
Other		979			833

Balance, June 30, 2012	$	65,399		$	85,641

Summary of the impact of Fund Interests and other similar deferred compensation


	Three Months Ended June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
Amortization (including grants of awards to retirement-eligible recipients)		$10,800			$2,413		$16,985			$5,054
Change in fair value of compensation liability		(2,856	)		–		(89	)		–

Total		$7,944			$2,413		$16,896			$5,054

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2012

Employee Benefit Plans [Abstract]

Components of net benefit cost

The following table summarizes the components of net periodic benefit cost for the three month and six month periods ended June 30, 2012 and 2011:


	Pension Plans						Post-Retirement Medical Plans
	Three Months Ended June 30,
	2012			2011			2012		2011
Components of Net Periodic Benefit Cost:
Service cost	$	166		$	169		$	19	$	19
Interest cost		6,885			7,092			52		69
Expected return on plan assets		(6,622	)		(7,644	)		–		–
Amortization of:
Prior service cost		687			762			–		–
Net actuarial loss		420			66			–		–
Settlement loss (a)		886			–			–		–

Net periodic benefit cost	$	2,422		$	445		$	71	$	88


	Pension Plans						Post-Retirement Medical Plans
	Six Months Ended June 30,
	2012			2011			2012		2011
Components of Net Periodic Benefit Cost:
Service cost	$	338		$	332		$	30	$	34
Interest cost		13,787			14,159			105		139
Expected return on plan assets		(13,294	)		(15,266	)		–		–
Amortization of:
Prior service cost		1,388			1,502			–		–
Net actuarial loss		831			129			–		–
Settlement loss (a)		886			–			–		–

Net periodic benefit cost	$	3,936		$	856		$	135	$	173

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

6 Months Ended

Jun. 30, 2012

Net Income Per Share of Class A Common Stock [Abstract]

Company's basic and diluted net income per share and weighted average shares outstanding


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Net income attributable to Lazard Ltd		$30,821		$62,004		$56,373		$117,011
Add - adjustment associated with Class A common stock issuable on a non-contingent basis		2		103		2		199

Net income attributable to Lazard Ltd - basic		30,823		62,107		56,375		117,210
Add - dilutive effect, as applicable, of:
Adjustments to income relating to interest expense and changes in net income attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt in 2011, convertible preferred stock and exchangeable interests, net of tax		1,686		4,649		2,876		9,074

Net income attributable to Lazard Ltd - diluted		$32,509		$66,756		$59,251		$126,284


Weighted average number of shares of Class A common stock outstanding		117,478,380		115,326,051		118,079,120		113,503,750
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		756,940		3,781,335		653,311		3,717,320

Weighted average number of shares of Class A common stock outstanding - basic		118,235,320		119,107,386		118,732,431		117,221,070
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 in 2011, convertible preferred stock and exchangeable interests		16,401,615		20,240,547		16,883,126		21,748,193

Weighted average number of shares of Class A common stock outstanding - diluted		134,636,935		139,347,933		135,615,557		138,969,263

Net income attributable to Lazard Ltd per share of Class A common stock:
Basic		$0.26		$0.52		$0.47		$1.00

Diluted		$0.24		$0.48		$0.44		$0.91

Related Parties (Tables)

6 Months Ended

Jun. 30, 2012

Related Parties [Abstract]

Schedule of amounts receivable from and payable to related parties

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


	June 30, 2012		December 31, 2011
Receivables
LFCM Holdings		$10,416		$14,790
Other		3,686		3,711

Total		$14,102		$18,501

Payables
LFCM Holdings		$ 6,189		$ 4,850
Other		891		1,225

Total		$ 7,080		$ 6,075

Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

Schedule of segment's contribution with respect to net revenue, operating expenses, operating income (loss) and total assets


		Three Months Ended June 30,						Six Months Ended June 30,
		2012			2011			2012			2011
Financial Advisory
	Net Revenue	$	242,624		$	249,191		$	519,820		$	478,036
	Operating Expenses		231,200			214,217			481,097			427,783

	Operating Income	$	11,424		$	34,974		$	38,723		$	50,253


Asset Management
	Net Revenue	$	211,053		$	244,855		$	425,580		$	471,708
	Operating Expenses		156,619			160,914			317,120			310,118

	Operating Income	$	54,434		$	83,941		$	108,460		$	161,590


Corporate
	Net Revenue	$	(16,767	)	$	(16,754	)	$	(22,451	)	$	(34,429	)
	Operating Expenses		4,558			12,959			42,376			14,766

	Operating Loss	$	(21,325	)	$	(29,713	)	$	(64,827	)	$	(49,195	)


Total
	Net Revenue	$	436,910		$	477,292		$	922,949		$	915,315
	Operating Expenses		392,377			388,090			840,593			752,667

	Operating Income	$	44,533		$	89,202		$	82,356		$	162,648


	As Of
	June 30, 2012		December 31, 2011
Total Assets
Financial Advisory	$	747,456	$	767,699
Asset Management		491,239		583,524
Corporate		1,739,159		1,730,713

Total	$	2,977,854	$	3,081,936

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Organization and Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2012 Segment $ / shares shares	Dec. 31, 2011 $ / shares shares
Organization and Basis of Presentation (Textual) [Abstract]
Number of business segments \| Segment	2
Governing Operating Agreement, Date	May 10, 2005
Lazard Group [Member]
Organization And Basis of Presentation [Line Items]
Common membership interests held	94.90%	94.80%
LAZ-MD Holdings LLC [Member]
Organization And Basis of Presentation [Line Items]
Common membership interests held	5.10%	5.20%
Class A common stock [Member]
Organization And Basis of Presentation [Line Items]
Common stock, par value \| $ / shares	$ 0.01	$ 0.01
Common stock, shares issued	123,196,012	123,009,311
Class B common stock [Member]
Organization And Basis of Presentation [Line Items]
Common stock, par value \| $ / shares	$ 0.01	$ 0.01
Common stock, shares outstanding	1	1
Common stock, shares issued	1	1
Class B common stock [Member] \| LAZ-MD Holdings LLC [Member]
Organization And Basis of Presentation [Line Items]
Common membership voting power held	5.10%	5.20%
Common stock, shares outstanding	1
Common stock, shares issued	1

Receivables - Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Receivables Net (Textual) [Abstract]
Allowance for doubtful accounts receivables	$ 20,756		$ 20,756		$ 19,450
Bad debt expense (recoveries)	(133)	$ 2,463	1,148	$ 3,430
Charge-offs, foreign currency translation and other adjustments	(283)	$ (1,435)	158	$ (1,922)
Receivables deemed past due or uncollectible	$ 22,857		$ 22,857		$ 22,785

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Company's investments and securities sold, not yet purchased
Debt	$ 20,270	$ 36,966
Equities	212,314	156,053
Other	207,099	185,502
Total	439,683	378,521
Investments, at fair value	427,525	364,634
Interest-bearing deposits (included in "debt" above)	2,715	2,834
Securities sold, not yet purchased, at fair value (included in "other liabilities")	1,097	4,282
Fixed Income Funds [Member]
Company's investments and securities sold, not yet purchased
Other	47,165	31,121
Interests in alternative asset management funds [Member]
Company's investments and securities sold, not yet purchased
Other	36,500	20,610
Private equity [Member]
Company's investments and securities sold, not yet purchased
Other	113,991	122,718
Equity Method Investments [Member]
Company's investments and securities sold, not yet purchased
Other	$ 9,443	$ 11,053

Investments (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Investments (Details 1) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Gross investment gains and losses
Gross investment gains	$ 1,715	$ 8,830	$ 29,359	$ 15,205
Gross investment losses	$ 3,052	$ 2,235	$ 4,036	$ 3,251

Investments (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Investments (Details 2) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Gross unrealized investment gains and losses
Gross unrealized investment gains	$ 373	$ 641	$ 1,418	$ 1,214
Gross unrealized investment losses	$ 1,721	$ 193	$ 1,721	$ 313

- Definition

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.

+ References

Reference 1: 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=16383099&loc=d3e24584-111560

Reference 2: 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 3: 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 4: 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 5: 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 6: 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.

+ Details

- Definition

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.

+ References

Reference 1: 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=16383099&loc=d3e24584-111560

Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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.

+ Details

Investments (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Investment (Textual) [Abstract]
Lazard Fund Interests in Equities	$ 73,174	$ 19,857
Lazard Fund Interests in alternative asset management funds	3,512	2,256
Lazard Fund Interests in fixed income funds	20,237	5,212
Economic interests that are owned by the leadership team and other investors in the Edgewater Funds	$ 19,932	$ 18,502

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Equities	$ 212,314	$ 156,053
Derivatives	4,449	7,131
Securities sold, not yet purchased	1,097	4,282
Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Equities	212,314	156,053
Derivatives	4,449	7,131
Total Assets	431,974	371,765
Securities sold, not yet purchased	1,097	4,282
Derivatives	87,495	30,713
Total Liabilities	88,592	34,995
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Equities	168,187	115,380
Total Assets	214,700	160,030
Securities sold, not yet purchased	1,097	4,282
Total Liabilities	1,097	4,282
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Equities	43,936	37,332
Derivatives	4,449	7,131
Total Assets	98,476	78,635
Derivatives	87,495	30,713
Total Liabilities	87,495	30,713
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Equities	191	3,341
Total Assets	118,798	133,100
Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	17,555	34,132
Debt [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	13,302	17,111
Debt [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	4,253	17,021
Interests in alternative asset management funds [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	36,500	20,610
Interests in alternative asset management funds [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	31,884	13,569
Interests in alternative asset management funds [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	4,616	7,041
Fixed Income Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	47,165	31,121
Fixed Income Funds [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	33,211	27,539
Fixed Income Funds [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	13,954	3,582
Private equity [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	113,991	122,718
Private equity [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis
Investments	$ 113,991	$ 122,718

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Summary of changes in fair value of the Company's Level 3 assets
Beginning Balance	$ 122,695	$ 171,616	$ 133,100	$ 163,798
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	4,753	3,548	12,444	3,827
Purchases/Acquisitions	66	922	2,772	13,075
Sales/Dispositions	(6,164)	(2,052)	(28,429)	(9,355)
Foreign Currency Translation Adjustments	(2,552)	805	(1,089)	3,494
Ending Balance	118,798	174,839	118,798	174,839
Equities [Member]
Summary of changes in fair value of the Company's Level 3 assets
Beginning Balance	227	129	3,341	316
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	5	3	5	3
Purchases/Acquisitions			10
Sales/Dispositions	(30)		(3,160)	(195)
Foreign Currency Translation Adjustments	(11)	3	(5)	11
Ending Balance	191	135	191	135
Interests in alternative asset management funds [Member]
Summary of changes in fair value of the Company's Level 3 assets
Beginning Balance	5,905		7,041
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	(38)		89
Purchases/Acquisitions	10		10
Sales/Dispositions	(1,261)		(2,524)
Ending Balance	4,616		4,616
Private equity [Member]
Summary of changes in fair value of the Company's Level 3 assets
Beginning Balance	116,563	171,487	122,718	163,482
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	4,786	3,545	12,350	3,824
Purchases/Acquisitions	56	922	2,752	13,075
Sales/Dispositions	(4,873)	(2,052)	(22,745)	(9,160)
Foreign Currency Translation Adjustments	(2,541)	802	(1,084)	3,483
Ending Balance	$ 113,991	$ 174,704	$ 113,991	$ 174,704

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Fair Value of Certain Investments Based on NAV
Fair Value	$ 206,754	$ 185,970
Unfunded Commitments	35,726	52,197
Equities [Member]
Fair Value of Certain Investments Based on NAV
Fair Value	$ 43,908	$ 40,512
% of Fair Value Not Redeemable	2.00%	2.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	1.00%	1.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	1.00%	1.00%
Investments Redeemable, Redemption Frequency	Quarterly	Quarterly
Investments Redeemable, Redemption Notice Period	60 Days	60 Days
Interests in alternative asset management funds [Member]
Fair Value of Certain Investments Based on NAV
Fair Value	$ 36,500	$ 20,600
% of Fair Value Not Redeemable	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	0.00%	0.00%
Investments Redeemable, Redemption Frequency	Quarterly	Quarterly
Investments Redeemable, Redemption Notice Period	>90 Days	> 90 Days
Fixed Income Funds [Member]
Fair Value of Certain Investments Based on NAV
Fair Value	$ 13,954	$ 3,582
% of Fair Value Not Redeemable	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	0.00%	0.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	0.00%	0.00%
Investments Redeemable, Redemption Frequency	Monthly	Monthly
Investments Redeemable, Redemption Notice Period	60 Days	60 Days
Private equity [Member]
Fair Value of Certain Investments Based on NAV
Fair Value	$ 112,392	$ 121,276
Unfunded Commitments	$ 35,726	$ 52,197
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	25.00%	33.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	35.00%	28.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	40.00%	39.00%

Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 35,726		$ 35,726		$ 52,197
Fair Value Measurements (Textual) [Abstract]
Net unrealized gain	3,483	$ 3,538	$ 9,563	$ 3,817
EGCP III [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
End of the investment period			Oct. 12, 2016
CP II [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
End of the investment period			Feb. 25, 2017
Private equity [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	35,726		$ 35,726		$ 52,197
Maximum [Member] \| EGCP III [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	25,673		$ 25,673
Remaining commitment date			Oct. 12, 2023
Maximum [Member] \| CP II [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	2,124		$ 2,124
Maximum [Member] \| COF 2 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 7,929		$ 7,929
Remaining commitment date			Nov. 11, 2019
Minimum [Member] \| COF 2 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Remaining commitment date			Nov. 11, 2016

Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Fair values of the Company's derivative instruments
Derivative Assets	$ 4,449	$ 7,131
Derivative Liabilities	87,495	30,713
Forward foreign currency exchange rate contracts [Member]
Fair values of the Company's derivative instruments
Derivative Assets	1,084	4,245
Derivative Liabilities	1,491	445
Interest rate swaps [Member]
Fair values of the Company's derivative instruments
Derivative Liabilities	247	277
Equity and fixed income swaps [Member]
Fair values of the Company's derivative instruments
Derivative Liabilities	116	91
Equity and fixed income swaps and other [Member]
Fair values of the Company's derivative instruments
Derivative Assets	3,365	2,886
Lazard Fund Interests and other similar deferred compensation arrangements [Member]
Fair values of the Company's derivative instruments
Derivative Liabilities	$ 85,641	$ 29,900

- Definition

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.

+ References + Details

- Definition

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.

+ References + Details

Derivatives (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Derivatives (Details 1) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 10,537	$ (3,571)	$ (4,407)	$ (12,118)
Forward foreign currency exchange rate contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	4,051	(3,139)	2,129	(9,397)
Equity and fixed income swaps and other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	3,630	$ (432)	(6,625)	$ (2,721)
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	$ 2,856		$ 89

Business Acquisitions (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011	Jul. 15, 2009
Business Acquisitions (Textual) [Abstract]
Aggregate fair value of the consideration recognized at the acquisition date			$ 61,624
Preferred stock, shares outstanding
Additional Common Stock [Member]
Business Acquisition [Line Items]
Business acquisition common stock issuable on a non-contingent basis	47,474
Class A common stock [Member]
Business Acquisition [Line Items]
Business acquisition number of common stock issued			1,142,857
Business acquisition, shares unrestricted or delivered		285,715
Business acquisition common stock issuable on a non-contingent basis		47,474
Earnout Shares [Member]
Business Acquisition [Line Items]
Business acquisition, shares unrestricted or delivered		57,287
Business acquisition number of common stock issued subject to earnout criteria and payable over time	1,142,857

Property - Net (Details) - USD ($) $ in Thousands	6 Months Ended
Property - Net (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 459,979	$ 435,102
Less - Accumulated depreciation and amortization	261,690	266,673
Property - net	198,289	168,429
Buildings [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 158,939	164,168
Buildings [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	33 years
Leasehold improvements [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 167,957	159,191
Leasehold improvements [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Leasehold improvements [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Furniture and equipment [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 108,025	85,396
Furniture and equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Furniture and equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Construction in progress [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 25,058	$ 26,347

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Components of goodwill and other intangible assets
Goodwill	$ 360,993	$ 356,657	$ 320,411	$ 313,229
Other intangible assets (net of accumulated amortization)	33,175	36,442
Goodwill and other intangible assets, Total	$ 394,168	$ 393,099

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: 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 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
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-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 6: 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 7: 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 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.

+ Details

Goodwill and Other Intangible Assets (Details 1) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Changes in the carrying amount of goodwill
Balance, January 1	$ 356,657	$ 313,229
Business acquisitions	4,272
Foreign currency translation adjustments	64	7,182
Balance, June 30	$ 360,993	$ 320,411

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-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 FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-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 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-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.

+ Details

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Gross cost and accumulated amortization of other intangible assets
Other intangible assets, Gross Cost	$ 63,775	$ 63,364
Other intangible assets, Accumulated Amortization	30,600	26,922
Other intangible assets, Net Carrying Amount	33,175	36,442
Success/Performance Fees [Member]
Gross cost and accumulated amortization of other intangible assets
Other intangible assets, Gross Cost	30,740	30,740
Other intangible assets, Accumulated Amortization	8,510	7,122
Other intangible assets, Net Carrying Amount	22,230	23,618
Management Fees, Customer Relationships and Non-Compete Agreements [Member]
Gross cost and accumulated amortization of other intangible assets
Other intangible assets, Gross Cost	33,035	32,624
Other intangible assets, Accumulated Amortization	22,090	19,800
Other intangible assets, Net Carrying Amount	$ 10,945	$ 12,824

Goodwill and Other Intangible Assets (Details 3) $ in Thousands	6 Months Ended
	Jun. 30, 2012 USD ($)
Estimated future amortization expense
2012 (July 1 through December 31)	$ 2,641
2013	9,372
2014	8,901
2015	6,953
2016	5,308
Total amortization expense	$ 33,175
Intangible asset amortization attributable to noncontrolling interest, percentage	45.00%

Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Dec. 31, 2010
Goodwill [Line Items]
Goodwill	$ 360,993	$ 320,411	$ 360,993	$ 320,411	$ 356,657	$ 313,229
Goodwill and Other Intangible Assets (Textual) [Abstract]
Amortization of intangible assets related to acquisitions	2,560	$ 1,706	3,678	$ 3,180
Financial Advisory Segment [Member]
Goodwill [Line Items]
Goodwill	296,452		296,452		$ 292,116
Asset Management Segment [Member]
Goodwill [Line Items]
Goodwill	$ 64,541		$ 64,541

- Definition

+ References

+ Details

Senior Debt (Details) - USD ($) $ in Thousands	6 Months Ended
Senior Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Senior debt
Senior debt, Outstanding	$ 1,076,850	$ 1,076,850
Lazard Group 7.125% Senior Notes [Member]
Senior debt
Senior Debt, Initial Principal Amount	$ 550,000
Senior Debt, Maturity Date	May 15, 2015
Senior Debt, Annual Interest Rate	7.125%
Senior debt, Outstanding	$ 528,500	528,500
Lazard Group 6.85% Senior Notes [Member]
Senior debt
Senior Debt, Initial Principal Amount	$ 600,000
Senior Debt, Maturity Date	Jun. 15, 2017
Senior Debt, Annual Interest Rate	6.85%
Senior debt, Outstanding	$ 548,350	$ 548,350
Lazard Group Credit Facility [Member]
Senior debt
Senior Debt, Initial Principal Amount	$ 150,000
Senior Debt, Maturity Date	Apr. 29, 2013
Senior Debt, Annual Interest Rate	1.92%

Senior Debt (Details Textual) - USD ($) $ in Thousands	6 Months Ended
Senior Debt (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Unused line of credit facility available	$ 299,000
Senior Debt (Textual) [Abstract]
Senior revolving credit facility over next 3 years	150,000
Fair value of senior debt	1,186,000	$ 1,138,000
Fair value of senior debt in excess of the aggregate carrying value	109,000	61,000
Outstanding Credit Facility	0	$ 0
LFB [Member]
Debt Instrument [Line Items]
Unused line of credit facility available	88,000
Edgewater [Member]
Debt Instrument [Line Items]
Unused line of credit facility available	$ 55,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Senior Debt, Maturity Date	Apr. 01, 2013
Revolving Credit Facility annual interest rate	1.92%

Commitments and Contingencies (Details Textual) $ in Thousands	Jun. 30, 2012 USD ($)
Commitments and Contingencies (Textual) [Abstract]
Guarantees indemnifications	$ 5,000
Collateral/counter-guarantees	4,000
Other commitments	$ 22,000

Stockholders' Equity (Details) - USD ($) $ in Thousands	6 Months Ended
Stockholders' Equity (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Lazard Group distributed amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd
Amounts distributed by Lazard Group	$ 45,427	$ 35,029
LAZ-MD Holdings [Member]
Lazard Group distributed amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd
Amounts distributed by Lazard Group	2,416	2,174
Subsidiaries of Lazard Ltd [Member]
Lazard Group distributed amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd
Amounts distributed by Lazard Group	$ 43,011	$ 32,855

Stockholders' Equity (Details 1) - USD ($) $ in Thousands	6 Months Ended
Stockholders' Equity (Details 1) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Accumulated Other Comprehensive Income (Loss), Net of Tax
Currency translation adjustments	$ 1,765	$ 3,719
Interest rate hedge	(3,030)	(3,557)
Employee benefit plans	(97,050)	(92,637)
Total AOCI	(98,315)	(92,475)
Less amount attributable to noncontrolling interests	(4,144)	(4,111)
Total Lazard Ltd AOCI	$ (94,171)	$ (88,364)

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (j-k)
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669646-108580

Reference 2: 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=20435746&loc=d3e637-108580

Reference 3: 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=20435746&loc=d3e681-108580

Reference 4: 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=21915506&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 6: 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 7: 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 8: 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.

+ Details

- Definition

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.

+ References

Reference 1: 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=20435746&loc=d3e681-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 220
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-Paragraph 11
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 10A
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 14A
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 830
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-Name Accounting Standards Codification
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 12, 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 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-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 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 31
-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 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-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 130
-Paragraph 17, 18, 19, 22, 23, 24, 25, 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.

+ Details

- Definition

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.

+ References

Reference 1: 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=20435746&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-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 130
-Paragraph 14, 17, 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 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

- Definition

Net of tax amount of other comprehensive income (loss) attributable to noncontrolling interests.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(3)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-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 AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 30
-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.

+ Details

Stockholders' Equity (Details 2) - shares	6 Months Ended
Stockholders' Equity (Details 2) - shares	Jun. 30, 2012	Jun. 30, 2011
Ownership Interest Roll Forward
Beginning balance (in shares)	129,766,090	127,350,561
Repurchase of common membership interests from LAZ-MD Holdings		(19,032)
Ending balance (in shares)	129,766,090	127,331,529
Lazard Ltd [Member]
Ownership Interest Roll Forward
Beginning balance (in shares)	123,009,311	119,697,936
Percentage of Ownership, Beginning Balance	94.80%	94.00%
Common membership interest activity in connection with: Exchanges for Class A common stock	186,701	728,385
Ending balance (in shares)	123,196,012	120,426,321
Percentage of Ownership, Ending Balance	94.90%	94.60%
LAZ-MD Holdings [Member]
Ownership Interest Roll Forward
Beginning balance (in shares)	6,756,779	7,652,625
Percentage of Ownership, Beginning Balance	5.20%	6.00%
Common membership interest activity in connection with: Exchanges for Class A common stock	(186,701)	(728,385)
Repurchase of common membership interests from LAZ-MD Holdings		(19,032)
Ending balance (in shares)	6,570,078	6,905,208
Percentage of Ownership, Ending Balance	5.10%	5.40%

Stockholders' Equity (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Stockholders' Equity (Details 3) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Net income attributable to noncontrolling interests
Net Income (Loss) Attributable To Noncontrolling Interests	$ 3,341	$ 9,562	$ 6,845	$ 14,538
Noncontrolling interests	121,983		121,983		$ 140,713
LAZ-MD Holdings [Member]
Net income attributable to noncontrolling interests
Net Income (Loss) Attributable To Noncontrolling Interests	1,694	4,012	3,019	7,746
Noncontrolling interests	34,506		34,506		31,954
Edgewater [Member]
Net income attributable to noncontrolling interests
Net Income (Loss) Attributable To Noncontrolling Interests	1,698	5,882	3,872	6,905
Noncontrolling interests	86,235		86,235		91,713
Other Noncontrolling Interests [Member]
Net income attributable to noncontrolling interests
Net Income (Loss) Attributable To Noncontrolling Interests	(51)	$ (332)	(46)	$ (113)
Noncontrolling interests	$ 1,242		$ 1,242		$ 17,046

- Definition

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 (that is, noncontrolling interest, previously referred to as minority interest).

+ References + Details

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References + Details

Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended		6 Months Ended
	Jul. 31, 2012	Apr. 30, 2012	Oct. 31, 2011	Feb. 28, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Schedule Of Capitalization Equity [Line Items]
Shares in exchange of a like number of common membership interests							186,701
Number of shares/common membership interests purchased							0
Aggregate cost of shares/common membership interests purchased							$ 0
Preferred stock, shares authorized					15,000,000		15,000,000		15,000,000
Preferred stock, par value					$ 0.01		$ 0.01		$ 0.01
Preferred stock, shares outstanding
Stockholders Equity Note (Textual) [Abstract]
Dividends declared per share of common stock	$ 0.20				$ 0.20	$ 0.16	$ 0.36	$ 0.285
Payments of Ordinary Dividends, Common Stock							$ 43,011	$ 32,855
Dividend Declare Date							Jul. 25, 2012
Dividend Payable Date							Aug. 24, 2012
Dividend Date of Record							Aug. 06, 2012
LAZ-MD Holdings LLC [Member]
Schedule Of Capitalization Equity [Line Items]
Percentage of common membership interests and corresponding voting interests in subsidiary by noncontrolling interests					5.10%		5.10%		5.20%
Class A common stock [Member]
Schedule Of Capitalization Equity [Line Items]
Stock/membership interest repurchase program authorized amount		$ 125,000	$ 125,000	$ 250,000			$ 184,730
Shares in exchange of a like number of common membership interests								728,385
Number of shares/common membership interests purchased							5,706,592
Aggregate cost of shares/common membership interests purchased							$ 152,413
Series A Preferred Stock [Member]
Schedule Of Capitalization Equity [Line Items]
Preferred stock, shares outstanding					7,921		7,921		7,921
Series B Preferred Stock [Member]
Schedule Of Capitalization Equity [Line Items]
Preferred stock, shares outstanding

Incentive Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Incentive Plans (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Summary of the impact of share-based incentive plans on compensation and benefits expense
Share-based incentive compensation	$ 66,350	$ 58,976	$ 152,486	$ 152,533
RSUs [Member]
Summary of the impact of share-based incentive plans on compensation and benefits expense
Share-based incentive compensation	63,428	57,552	145,319	142,410
DSUs [Member]
Summary of the impact of share-based incentive plans on compensation and benefits expense
Share-based incentive compensation	1,218	1,068	1,288	1,124
Restricted Stock [Member]
Summary of the impact of share-based incentive plans on compensation and benefits expense
Share-based incentive compensation	$ 1,704	$ 356	$ 5,879	$ 8,999

Incentive Plans (Details 1) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Schedule of issuance of RSUs and charges to retained earnings
Number of RSUs issued	310,756	140,613
Charges to retained earnings, net of estimated forfeitures	$ 7,277	$ 5,337

Incentive Plans (Details 2) - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
RSUs [Member]
Schedule of Activity Relating To RSUs and DSUs
Units, Beginning Balance	20,751,829	22,108,635
Units, Granted/Exchanged	7,847,541	6,309,310
Units, Forfeited	(311,601)	(223,365)
Units, Vested	(3,631,932)	(7,616,386)
Units, Ending Balance	24,655,837	20,578,194
Weighted Average Grant Date Fair Value, Beginning Balance	$ 36.84	$ 35.67
Weighted Average Grant Date Fair Value, Granted	27.51	44.93
Weighted Average Grant Date Fair Value, Forfeited	35.46	37.90
Weighted Average Grant Date Fair Value, Vested	33.83	39.21
Weighted Average Grant Date Fair Value, Ending Balance	$ 34.32	$ 37.18
DSUs [Member]
Schedule of Activity Relating To RSUs and DSUs
Units, Beginning Balance	140,660	121,737
Units, Granted/Exchanged	55,224	29,801
Units, Forfeited
Units, Vested		(16,120)
Units, Ending Balance	195,884	135,418
Weighted Average Grant Date Fair Value, Beginning Balance	$ 34.83	$ 34.46
Weighted Average Grant Date Fair Value, Granted	23.32	37.72
Weighted Average Grant Date Fair Value, Forfeited
Weighted Average Grant Date Fair Value, Vested		34.76
Weighted Average Grant Date Fair Value, Ending Balance	$ 31.58	$ 35.14

Incentive Plans (Details 3) - Restricted Stock [Member] - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Summary of Activity Related to Shares of Restricted Class A Common Stock
Units, Beginning Balance	95,332	95,332
Units, Granted/Exchanged	577,323	327,238
Units, Forfeited	(18,921)
Units, Vested	(131,743)	(327,238)
Units, Ending Balance	521,991	95,332
Weighted Average Grant Date Fair Value, Beginning Balance	$ 37.63	$ 37.63
Weighted Average Grant Date Fair Value, Granted	29.25	43.70
Weighted Average Grant Date Fair Value, Forfeited	29.51
Weighted Average Grant Date Fair Value, Vested	28.63	43.70
Weighted Average Grant Date Fair Value, Ending Balance	$ 30.93	$ 37.63

Incentive Plans (Details 4) $ in Thousands	6 Months Ended
Incentive Plans (Details 4) $ in Thousands	Jun. 30, 2012 USD ($)
Summary of Fund Interests and Other Similar Deferred Compensation Arrangements
Prepaid Compensation Asset, Balance January 1, 2012	$ 17,782
Prepaid Compensation Asset, Granted	64,631
Prepaid Compensation Asset, Settled
Prepaid compensation asset forfeited	(1,008)
Prepaid Compensation Asset, Amortization (including grants of awards to retirement-eligible recipients)	(16,985)
Prepaid Compensation Asset, Decrease in fair value
Prepaid Compensation Asset, Foreign currency translation and other adjustments	979
Prepaid Compensation Asset, Balance, June 30, 2012	65,399
Compensation liability, Balance January 1, 2012	29,900
Compensation liability, Granted	64,631
Compensation liability, Settled	(8,641)
Compensation liability forfeited	(993)
Compensation liability, Amortization (including grants of awards to retirement-eligible recipients)
Compensation liability, Increase in fair value	(89)
Compensation liability, Foreign currency translation and other adjustments	833
Compensation liability, Balance, June 30, 2012	$ 85,641

Incentive Plans (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Incentive Plans (Details 5) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Compensation expense:
Amortization (including grants of awards to retirement-eligible recipients)	$ 10,800	$ 2,413	$ 16,985	$ 5,054
Change in fair value of compensation liability	(2,856)		(89)
Total	$ 7,944	$ 2,413	$ 16,896	$ 5,054

Incentive Plans (Details Textual) - USD ($) $ in Thousands	6 Months Ended
Incentive Plans (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
RSUs [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Dividend participation rights	310,756,000	140,613,000
Company satisfied employees' tax obligations in lieu of issuing vested stock	967,828	2,226,829
Unrecognized compensation expense for Restricted Stock and Restricted Stock Units	$ 311,000
Unrecognized compensation expense, years	1 year 4 months 24 days
DSUs [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Portion of annual compensation elected to be paid in DSUs in lieu of cash	49,735,000	26,859,000
Delivery of common stock associated with stock awards	5,489,000	2,942,000
Company satisfied employees' withholding taxes in lieu delivering, shares	28,129,000
Restricted Stock [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Unrecognized compensation expense for Restricted Stock and Restricted Stock Units	$ 10,000
Unrecognized compensation expense, years	1 year 10 months 24 days
Company satisfied employees' withholding taxes in lieu delivering, shares		68,866,000
Class A common stock [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Shares authorized pertaining to share based compensation arrangements, 2005 Plan	25,000,000
Company satisfied employees' tax obligations in lieu of issuing vested stock	2,664,104	5,389,557
Company satisfied employees' withholding taxes in lieu delivering, shares	103,614,000	258,372,000
Non-Executive Members [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Percentage of annual compensation received by directors in the form of DSUs	55.00%
Awarded Under 2008 Plan [Member] \| Class A common stock [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Percentage of outstanding Class A common stock	30.00%
Lazard Fund Interest [Member]
Disclosure Of Compensation Related Costs Share Based Payments (Textual) [Abstract]
Amortization of prepaid compensation asset, weighted average recognition period, years	2 years 1 month 6 days

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Pension Plans [Member]
Components of net benefit cost
Service cost	$ 166	$ 169	$ 338	$ 332
Interest cost	6,885	7,092	13,787	14,159
Expected return on plan assets	(6,622)	(7,644)	(13,294)	(15,266)
Amortization of:
Prior service cost	687	762	1,388	1,502
Net actuarial loss	420	66	831	129
Settlements loss	886		886
Net periodic benefit cost	2,422	445	3,936	856
Post-Retirement Medical Plans [Member]
Components of net benefit cost
Service cost	19	19	30	34
Interest cost	52	69	105	139
Expected return on plan assets
Amortization of:
Prior service cost
Net actuarial loss
Net periodic benefit cost	$ 71	$ 88	$ 135	$ 173

Employee Benefit Plans (Details Textual) $ in Thousands, £ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2012 GBP (£)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 GBP (£)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($)	Dec. 31, 2011 GBP (£)	Dec. 31, 2011 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Employer contribution in current fiscal year									$ 3,687
Company's contribution to U.K. pension plans					$ 1,576
Net charges to OCI		$ (3,457)	$ 55		(6,054)	$ (3,630)
Employee Benefit Plans (Textual) [Abstract]
Contribution each year from 2012 through 2020 \| £				£ 1.0
Pension contributions					700
Amend and extend existing escrow \| £	£ 10.2			10.2
Aggregate amount in account security arrangement							$ 16,000
Contributions to other non-U.S. pension plans
Payments From 2014 Through 2020 [Member]
Defined Benefit Plan Disclosure [Line Items]
Additional contribution to plan assets from escrow account \| £	£ 1.0
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer contribution in current fiscal year \| £								£ 2.3
Company's contribution to U.K. pension plans \| £				£ 1.0
Total acturial losses		1,935
Settlements loss		886
Net charges to OCI		$ 1,049

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	May 10, 2005
Income Taxes (Textual) [Abstract]
Provision for income taxes	$ 10,371	$ 17,636	$ 19,138	$ 31,099
Income tax provisions, effective tax rates	23.30%	19.80%	23.20%	19.10%
U.S. federal statutory rate			35.00%
LFCM Holdings [Member]
Tax Receivable Agreement [Line Items]
Percentage of cash savings to pay per the tax receivable agreement					85.00%

Net Income Per Share of Class A Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Company's basic and diluted net income per share and weighted average shares outstanding
Net income attributable to Lazard Ltd	$ 30,821	$ 62,004	$ 56,373	$ 117,011
Net income attributable to Lazard Ltd - basic	$ 30,823	$ 62,107	$ 56,375	$ 117,210
Weighted average number of shares common stock outstanding - basic	118,235,320	119,107,386	118,732,431	117,221,070
Weighted average number of shares of Class A common stock outstanding - diluted	134,636,935	139,347,933	135,615,557	138,969,263
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$ 0.26	$ 0.52	$ 0.47	$ 1.00
Diluted	$ 0.24	$ 0.48	$ 0.44	$ 0.91
Class A common stock [Member]
Company's basic and diluted net income per share and weighted average shares outstanding
Add - adjustment associated with Class A common stock issuable on a non-contingent basis	$ 2	$ 103	$ 2	$ 199
Adjustments to income relating to interest expense and changes in net income attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation, convertible debt in 2011, convertible preferred stock and exchangeable interests, net of tax	1,686	4,649	2,876	9,074
Net income attributable to Lazard Ltd - diluted	$ 32,509	$ 66,756	$ 59,251	$ 126,284
Weighted average number of shares common stock outstanding	117,478,380	115,326,051	118,079,120	113,503,750
Add - adjustment for shares common stock issuable on a non-contingent basis	756,940	3,781,335	653,311	3,717,320
Weighted average number of shares common stock outstanding - basic	118,235,320	119,107,386	118,732,431	117,221,070
Add - dilutive effect, as applicable, of: Weighted average number of incremental shares of common stock issuable from share-based incentive compensation, convertible debt in 2011, convertible preferred stock and exchangeable interests	16,401,615	20,240,547	16,883,126	21,748,193
Weighted average number of shares of Class A common stock outstanding - diluted	134,636,935	139,347,933	135,615,557	138,969,263
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$ 0.26	$ 0.52	$ 0.47	$ 1.00
Diluted	$ 0.24	$ 0.48	$ 0.44	$ 0.91

Related Parties (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Schedule of amounts receivable from and payable to related parties
Amounts receivables from related parties	$ 14,102	$ 18,501
Amounts payables to related parties	7,080	6,075
LFCM Holdings [Member]
Schedule of amounts receivable from and payable to related parties
Amounts receivables from related parties	10,416	14,790
Amounts payables to related parties	6,189	4,850
Other [Member]
Schedule of amounts receivable from and payable to related parties
Amounts receivables from related parties	3,686	3,711
Amounts payables to related parties	$ 891	$ 1,225

- Definition

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

+ References

Reference 1: 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 2: 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 3: 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 4: 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

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 3
-Article 7

Reference 6: 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 7: 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 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Subparagraph 1
-Article 4

+ Details

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References + Details

Related Parties (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Related Parties (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
LFCM Holdings [Member]
Related Parties (Textual) [Abstract]
Amounts recorded relating to the administrative services agreement	$ 702	$ 578	$ 1,515	$ 1,192
Amounts recorded relating to net referral fees for underwriting, private placement, and restructuring transactions	3,552	6,200	4,366	13,147
Amount receivables related to administrative and support services and reimbursement of expenses	3,825		3,825		$ 11,862
Amount receivable related to referral fees for underwriting and private placement transactions	6,591		6,591		2,928
Payables relating to certain advances and referral fees	6,189		6,189		2,060
Amounts payables related to tax receivable agreement					$ 2,790
LAZ-MD Holdings [Member]
Related Parties (Textual) [Abstract]
Revenue from administrative services	$ 187	$ 187	$ 375	$ 375
MBA Lazard Holdings S.A. [Member]
Related Parties (Textual) [Abstract]
Percentage of ownership	50.00%		50.00%

Regulatory Authorities (Details Textual) $ in Thousands	6 Months Ended
Regulatory Authorities (Details Textual) $ in Thousands	Jun. 30, 2012 USD ($)
Regulatory Authorities (Textual) [Abstract]
Minimum capital requirement is defined as -A fixed percentage of total aggregate indebtedness recorded in the FOCUS report or $100 whichever is greater	$ 100
LFNY [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	74,299
Regulatory capital in excess of minimum requirement	68,933
U.K. Subsidiaries [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	130,437
Regulatory capital in excess of minimum requirement	106,893
CFLF [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	168,117
Regulatory capital in excess of minimum requirement	75,989
Other U.S. And Non-U.S. Subsidiaries [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	107,826
Regulatory capital in excess of minimum requirement	$ 84,178

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Schedule of Segment's Contribution With Respect To Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets
Net Revenue	$ 436,910	$ 477,292	$ 922,949	$ 915,315
Operating Expenses	392,377	388,090	840,593	752,667
Operating Income (loss)	44,533	89,202	82,356	162,648
Total Assets	2,977,854		2,977,854		$ 3,081,936
Financial Advisory [Member]
Schedule of Segment's Contribution With Respect To Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets
Net Revenue	242,624	249,191	519,820	478,036
Operating Expenses	231,200	214,217	481,097	427,783
Operating Income (loss)	11,424	34,974	38,723	50,253
Total Assets	747,456		747,456		767,699
Asset Management [Member]
Schedule of Segment's Contribution With Respect To Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets
Net Revenue	211,053	244,855	425,580	471,708
Operating Expenses	156,619	160,914	317,120	310,118
Operating Income (loss)	54,434	83,941	108,460	161,590
Total Assets	491,239		491,239		583,524
Corporate [Member]
Schedule of Segment's Contribution With Respect To Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets
Net Revenue	(16,767)	(16,754)	(22,451)	(34,429)
Operating Expenses	4,558	12,959	42,376	14,766
Operating Income (loss)	(21,325)	$ (29,713)	(64,827)	$ (49,195)
Total Assets	$ 1,739,159		$ 1,739,159		$ 1,730,713