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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2013	Jan. 31, 2014	Jun. 30, 2013
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Trading Symbol	LAZ
Entity Registrant Name	LAZARD LTD
Entity Central Index Key	0001311370
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 3,886,191,338
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		129,056,081
Class A Common Stock [Member] \| Subsidiaries of Lazard Ltd [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,401,151
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 841,482	$ 850,190
Deposits with banks	244,879	292,494
Cash deposited with clearing organizations and other segregated cash	62,046	65,232
Receivables (net of allowance for doubtful accounts of $28,777 and $23,017 at December 31, 2013 and 2012, respectively):
Fees	452,535	400,529
Customers and other	52,220	53,713
Related parties	7,920	23,801
Total receivables, net	512,675	478,043
Investments	478,105	414,673
Property (net of accumulated amortization and depreciation of $253,930 and $225,861 at December 31, 2013 and 2012, respectively)	248,796	225,033
Goodwill and other intangible assets (net of accumulated amortization of $45,379 and $35,281 at December 31, 2013 and 2012, respectively)	363,877	392,822
Other assets	259,277	268,406
Total Assets	3,011,137	2,986,893
Liabilities:
Deposits and other customer payables	275,434	269,763
Accrued compensation and benefits	523,063	467,578
Senior debt	1,048,350	1,076,850
Capital lease obligations	15,834	17,863
Related party payables	5,031	3,648
Other liabilities	513,427	499,651
Total Liabilities	2,381,139	2,335,353
Commitments and contingencies
Common stock:
Additional paid-in-capital	737,899	846,050
Retained earnings	203,236	182,647
Accumulated other comprehensive loss, net of tax	(133,004)	(110,541)
Stockholders' equity subtotal before common stock held by subsidiary and Noncontrolling interests, total	809,422	919,438
Total Lazard Ltd Stockholders' Equity	560,209	569,656
Noncontrolling interests	69,789	81,884
Total Stockholders' Equity	629,998	651,540
Total Liabilities and Stockholders' Equity	3,011,137	2,986,893
Series A Preferred Stock [Member]
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Preferred stock
Series B Preferred Stock [Member]
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Preferred stock
Class A Common Stock [Member]
Common stock:
Common stock	1,291	1,282
Class A common stock held by subsidiaries, at cost	(249,213)	(349,782)
Class B Common Stock [Member]
Common stock:
Common stock

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Allowance for doubtful accounts receivables	$ 28,777	$ 23,017
Property, accumulated amortization and depreciation	253,930	225,861
Intangible assets, accumulated amortization	$ 45,379	$ 35,281
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Series A Preferred Stock [Member]
Preferred stock, shares issued	7,921	7,921
Preferred stock, shares outstanding	7,921	7,921
Series B Preferred Stock [Member]
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	129,056,081	128,216,423
Common stock held by subsidiaries, shares	8,317,065	12,802,938
Class B Common Stock [Member]
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

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUE
Investment banking and other advisory fees	$ 972,533	$ 1,039,188	$ 970,167
Money management fees	994,707	858,834	859,996
Interest income	4,705	6,008	14,609
Other	92,788	89,983	74,866
Total revenue	2,064,733	1,994,013	1,919,638
Interest expense	79,381	81,565	90,126
Net revenue	1,985,352	1,912,448	1,829,512
OPERATING EXPENSES
Compensation and benefits	1,278,534	1,351,129	1,168,945
Occupancy and equipment	122,926	113,163	100,698
Marketing and business development	84,214	95,573	88,411
Technology and information services	89,289	86,892	83,212
Professional services	42,663	43,958	48,324
Fund administration and outsourced services	59,298	51,390	52,793
Amortization of intangible assets related to acquisitions	10,114	8,359	11,915
Other	81,507	38,099	39,715
Total operating expenses	1,768,545	1,788,563	1,594,013
OPERATING INCOME	216,807	123,885	235,499
Provision for income taxes	51,693	31,100	44,940
NET INCOME	165,114	92,785	190,559
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	4,902	8,476	15,642
NET INCOME ATTRIBUTABLE TO LAZARD LTD	$ 160,212	$ 84,309	$ 174,917
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic	120,854,267	116,953,989	118,032,020
Diluted	133,737,079	129,325,622	137,629,525
NET INCOME PER SHARE OF COMMON STOCK:
Basic	$ 1.33	$ 0.72	$ 1.48
Diluted	1.21	0.65	1.36
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 1.000	$ 1.160	$ 0.605

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME	$ 165,114	$ 92,785	$ 190,559
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments	(15,536)	15,686	(9,474)
Amortization of interest rate hedge	2,502	1,055	1,054
Employee benefit plans:
Actuarial loss (net of tax benefit of $6,388, $12,950 and $12,526 for the years ended December 31, 2013, 2012 and 2011, respectively)	(13,500)	(40,298)	(38,248)
Adjustments for items reclassified to earnings (net of tax expense of $1,929, $1,145 and $1,031 for the years ended December 31, 2013, 2012 and 2011, respectively)	4,605	4,399	2,206
OTHER COMPREHENSIVE LOSS, NET OF TAX	(21,929)	(19,158)	(44,462)
COMPREHENSIVE INCOME	143,185	73,627	146,097
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	4,769	8,315	13,105
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD LTD	$ 138,416	$ 65,312	$ 132,992

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement Of Income And Comprehensive Income [Abstract]
Tax benefit on actuarial loss, employee benefit plans	$ 6,388	$ 12,950	$ 12,526
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 1,929	$ 1,145	$ 1,031

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME	$ 165,114	$ 92,785	$ 190,559
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	34,750	30,855	24,580
Amortization of deferred expenses, share-based incentive compensation and interest rate hedge	310,036	360,751	300,286
Amortization of intangible assets related to acquisitions	10,114	8,359	11,915
Deferred tax provision (benefit)	14,454	(4,457)	7,214
Loss (gain) on extinguishment of debt	50,757		(18,171)
(Increase) decrease in operating assets:
Deposits with banks	58,570	(806)	63,639
Cash deposited with clearing organizations and other segregated cash	4,811	11,613	16,408
Receivables-net	(30,126)	31,157	61,153
Investments	(61,502)	(30,096)	31,543
Other assets	(60,731)	(62,683)	(61,648)
Increase (decrease) in operating liabilities:
Deposits and other payables	(4,779)	(26,576)	(63,141)
Accrued compensation and benefits and other liabilities	35,229	71,006	(166,535)
Net cash provided by operating activities	526,697	481,908	397,802
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(60,964)	(89,301)	(46,438)
Disposals of property	6,411	4,368	1,161
Net cash used in investing activities	(54,553)	(84,933)	(45,277)
Proceeds from:
Contribution from noncontrolling interests	832	1,741	17,505
Issuance of senior debt, net of expenses	493,398
Excess tax benefits from share-based incentive compensation	1,108		1,386
Payments for:
Senior and subordinated debt	(578,464)		(131,829)
Capital lease obligations	(2,659)	(2,519)	(2,322)
Distributions to noncontrolling interests	(14,367)	(27,767)	(33,734)
Repurchase of common membership interests from members of LAZ-MD Holdings			(794)
Purchase of Class A common stock	(132,477)	(354,464)	(204,835)
Class A common stock dividends	(121,620)	(135,108)	(70,572)
Settlement of vested share-based incentive compensation	(132,533)	(44,883)	(93,750)
Other financing activities	(290)	(220)	(33,414)
Net cash used in financing activities	(487,072)	(563,220)	(552,359)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	6,220	12,644	(6,070)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(8,708)	(153,601)	(205,904)
CASH AND CASH EQUIVALENTS-January 1	850,190	1,003,791	1,209,695
CASH AND CASH EQUIVALENTS-December 31	841,482	850,190	1,003,791
Supplemental investing non-cash transaction:
Class A common stock issued/issuable in connection with business acquisitions			39,654
Cash paid during the year for:
Interest	78,671	78,441	92,702
Income taxes, net of refunds	$ 22,623	$ 23,267	$ 35,038

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

Total

Series A Preferred Stock [Member]

Common Stock [Member]

Additional Paid-In-Capital [Member]

Retained Earnings [Member]

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

Class A Common Stock Held By Subsidiaries [Member]

Total Lazard Ltd Stockholders' Equity [Member]

Noncontrolling Interests [Member]

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

190,559

174,917

15,642

Other comprehensive loss - net of tax

(44,462)

(41,925)

(2,537)

Business acquisitions and related equity transactions:

Class A common stock issuable (including related amortization)

44,856

41,800

3,056

Conversion of Series A preferred stock into Class A common stock

$ 24

(24)

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

(14,100)

2,434,561

^[1]

Delivery of Class A common stock (including dividend-equivalents)

(3,401)

(126,812)

$ 123,411

(3,401)

Delivery of Class A common stock (including dividend-equivalents) (in shares)

(3,515,362)

Amortization of share-based incentive compensation

275,142

260,816

14,326

Dividend-equivalents

(79)

12,092

(12,167)

(75)

(4)

Class A common stock dividends

(70,572)

Purchase of Class A common stock

(204,835)

$ (204,835)

(204,835)

Purchase of Class A common stock (in shares)

6,135,189

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

(92,778)

(297,779)

$ 204,992

(92,787)

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

(5,975,318)

Repurchase of common membership interests from LAZ-MD Holdings

(794)

(753)

(41)

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

$ 9

(9)

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

^[1]

876,814

(1,580)

Distributions to noncontrolling interests, net

(21,317)

12,421

(281)

12,140

(12,140)

Ending Balance at Dec. 31, 2011

866,856

$ 1,230

659,013

258,646

(88,364)

$ (104,382)

726,143

140,713

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

7,921

123,009,312

^[1]

3,492,017

Comprehensive income (loss):

NET INCOME

92,785

84,309

8,476

Other comprehensive loss - net of tax

(19,158)

(18,997)

(161)

Business acquisitions and related equity transactions:

Class A common stock issuable (including related amortization)

4,079

4,030

Delivery of Class A common stock (including dividend-equivalents)

(1,633)

$ 1,633

Delivery of Class A common stock (including dividend-equivalents) (in shares)

(57,287)

Amortization of share-based incentive compensation

310,348

306,642

3,706

Dividend-equivalents

(212)

24,990

(25,200)

(210)

(2)

Class A common stock dividends

(135,108)

Purchase of Class A common stock

(354,464)

$ (354,464)

(354,464)

Purchase of Class A common stock (in shares)

12,817,196

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

(45,855)

(153,274)

$ 107,431

(45,843)

(12)

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

(3,448,988)

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

$ 52

(52)

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

^[1]

5,207,112

Distributions to noncontrolling interests, net

(26,026)

32,935

(3,180)

29,755

(29,755)

Ending Balance at Dec. 31, 2012

651,540

$ 1,282

846,050

182,647

(110,541)

$ (349,782)

569,656

81,884

Ending Balance (in shares) at Dec. 31, 2012

7,921

128,216,424

^[1]

12,802,938

Business acquisitions and related equity transactions:

Modification of equity incentive compensation award

(26,922)

(26,601)

(321)

Deconsolidation of investment companies

(14,783)

NET INCOME

165,114

160,212

4,902

Other comprehensive loss - net of tax

(21,929)

(21,796)

(133)

Class A common stock issuable (including related amortization)

790

786

Delivery of Class A common stock (including dividend-equivalents)

(6,893)

(179)

$ 7,072

Delivery of Class A common stock (including dividend-equivalents) (in shares)

(228,275)

Amortization of share-based incentive compensation

235,898

234,608

1,290

Dividend-equivalents

(290)

16,927

(17,215)

(288)

(2)

Class A common stock dividends

(121,620)

Purchase of Class A common stock

(132,477)

$ (132,477)

(132,477)

Purchase of Class A common stock (in shares)

3,488,101

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

(132,493)

(357,858)

(609)

$ 225,974

(132,493)

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

(7,745,699)

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

$ 9

(9)

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

^[1]

839,658

Distributions to noncontrolling interests, net

(13,535)

(1,000)

4,288

(667)

3,621

(4,621)

Ending Balance at Dec. 31, 2013

$ 629,998

$ 1,291

$ 737,899

$ 203,236

$ (133,004)

$ (249,213)

$ 560,209

$ 69,789

Ending Balance (in shares) at Dec. 31, 2013

7,921

129,056,082

^[1]

8,317,065

[1]	Includes 123,009,311, 128,216,423 and 129,056,081 shares of the Company's Class A common stock issued at December 31, 2011, 2012 and 2013, respectively, and 1 share of the Company's Class B common stock issued at each such date.

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Tax benefit or expenses related to delivery of Class A Common Stock in connection with share-based incentive compensation	$ 40	$ 972	$ 972
Class A Common Stock [Member]
Common stock, issued	129,056,081	128,216,423	123,009,311
Class B Common Stock [Member]
Common stock, issued	1	1	1

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2013

Accounting Policies [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, governments, institutions, partnerships and individuals.

Lazard Ltd indirectly held approximately 99.5% and 98.8% of all outstanding Lazard Group common membership interests as of December 31, 2013 and 2012, 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 0.5% and 1.2% of the outstanding Lazard Group common membership interests as of December 31, 2013 and 2012, 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 0.5% and 1.2% of the voting power but no economic rights in the Company as of December 31, 2013 and 2012, respectively. Subject to certain limitations, LAZ-MD Holdings’ interests in Lazard Group are exchangeable for Lazard Ltd Class A common stock, par value $0.01 per share (“Class A common stock”).

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 global 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.

In addition, we record selected other activities in our Corporate segment, including management of cash, investments and outstanding indebtedness, as well as certain commercial banking activities of Lazard Group’s Paris-based subsidiary Lazard Frères Banque SA (“LFB”).

LFB is a registered bank regulated by the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”). 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, and asset-liability management.

Basis of Presentation

The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s policy is to consolidate (i) entities in which it has a controlling financial interest, (ii) variable interest entities (“VIEs”) where the Company has a variable interest and is deemed to be the primary beneficiary and (iii) limited partnerships where the Company is the general partner, unless the presumption of control is overcome. When the Company does not have a controlling interest in an entity, but exerts significant influence over the entity’s operating and financial decisions, the Company applies the equity method of accounting in which it records in earnings its share of earnings or losses of the entity. Intercompany transactions and balances have been eliminated.

The consolidated financial statements include Lazard Ltd, Lazard Group and Lazard Group’s principal operating subsidiaries: Lazard Frères & Co. LLC (“LFNY”), a New York limited liability company, along with its subsidiaries, including Lazard Asset Management LLC and its subsidiaries (collectively referred to as “LAM”); 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.

- Definition

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

+ References

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+ Details

Significant Accounting Policies

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Significant Accounting Policies

2.	*SIGNIFICANT ACCOUNTING POLICIES*

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

Foreign Currency Translation—The consolidated financial statements are presented in U.S. Dollars. Many of the Company’s non-U.S. subsidiaries have a functional currency (i.e., the currency in which operational activities are primarily conducted) that is other than the U.S. Dollar, generally the currency of the country in which such subsidiaries are domiciled. Such subsidiaries’ assets and liabilities are translated into U.S. Dollars at year-end exchange rates, while revenue and expenses are translated at average exchange rates during the year based on the daily closing exchange rates. Adjustments that result from translating amounts from a subsidiary’s functional currency to U.S. Dollars are reported in “accumulated other comprehensive income (loss), net of tax” (“AOCI”). Foreign currency remeasurement gains and losses on transactions in non-functional currencies are included on the consolidated statements of operations. Net foreign currency remeasurement gains (losses) amounted to $(2,887), $(761) and $1,406, respectively, for the years ended December 31, 2013, 2012 and 2011, and are included in “revenue-other” on the respective consolidated statements of operations.

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

•

valuations of assets and liabilities requiring fair value estimates including, but not limited to, investments, derivatives, securities sold, not yet purchased and assumptions used to value pension and other post-retirement plans;

•

the adequacy of the allowance for doubtful accounts;

•

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

•

the outcome of litigation;

•

the carrying amount of goodwill and other intangible assets;

•

the amortization period of intangible assets;

•

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

•

the vesting of share-based and other deferred compensation plan awards, and

•

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

Estimates, by their nature, are based on judgment and available information. Therefore, actual results could differ from those estimates and could have a material impact on the consolidated financial statements.

Cash and Cash Equivalents—The Company defines cash equivalents as short-term, highly liquid securities and cash deposits with original maturities of 90 days or less when purchased.

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

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

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

With respect to fees receivable from Financial Advisory activities, such receivables are generally deemed past due when they are outstanding 60 days from the date of invoice. However, some Financial Advisory transactions include specific contractual payment terms that may vary from one month to four years (as is the case for our interest-bearing financing receivables) following the invoice date or may be subject to court approval (as is the case with bankruptcy-related restructuring assignments). In such cases, receivables are deemed past due when payment is not received by the agreed-upon contractual date or the court approval date, respectively. Financial Advisory fee receivables past due in excess of 180 days are fully provided for unless there is evidence that the balance is collectable. Asset Management fees are deemed past due and fully provided for when such receivables are outstanding 12 months after the invoice date. Notwithstanding our policy for receivables past due, we specifically reserve against exposures relating to Financial Advisory and Asset Management fees where we determine receivables are impaired.

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

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

Investments in debt and marketable equity securities held at the Company’s non broker-dealer subsidiaries are considered “trading” securities and are accounted for at fair value, with any increase or decrease in fair value reflected in “revenue-other” in the consolidated statements of operations.

Investments also include interests in alternative investment funds and private equity funds, each accounted for at fair value, as well as investments accounted for under the equity method of accounting. Any increases or decreases in the carrying value of those investments accounted for at fair value and the Company’s share of net income or losses pertaining to its equity method investments are reflected in “revenue-other” in the consolidated statements of operations.

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

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

Property-net—Property is stated at cost or, in the case of property under capital leases, the present value of the future minimum lease payments, less accumulated depreciation and amortization. Buildings represent owned property and amounts recorded pursuant to capital leases (see Notes 8 and 12 of Notes to Consolidated Financial Statements), with the related obligations recorded as capital lease obligations. Such buildings are depreciated on a straight-line basis over their estimated useful lives. Leasehold improvements are capitalized and are amortized over the lesser of the economic useful life of the improvement or the term of the lease. Depreciation of furniture and equipment, including computer hardware and software, is determined on a straight-line basis using estimated useful lives. Depreciation and amortization expense aggregating $34,750, $30,855 and $24,580 for the years ended December 31, 2013, 2012 and 2011, respectively, is included on the respective consolidated statements of operations in “occupancy and equipment” or “technology and information services”, depending on the nature of the underlying asset. Repairs and maintenance are expensed as incurred.

Goodwill and Other Intangible Assets—As goodwill has an indefinite life, it is required to be tested for impairment annually or more frequently if circumstances indicate impairment may have occurred. For years prior to 2011, the Company assessed whether any goodwill recorded by its applicable reporting units was impaired by comparing the fair value of each reporting unit with its respective carrying amount. In this process, Lazard used its best judgment and information available to it at the time to perform this review and utilized various valuation techniques in order to determine the applicable fair values. Commencing in 2011, as permitted under an amendment issued by the Financial Accounting Standards Board (the “FASB”), the Company elected to perform a qualitative evaluation about whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount in lieu of actually calculating the fair value of the reporting unit.

During the fourth quarter of 2013, the Company changed the date of its annual goodwill impairment testing from December 31 to November 1. This change is preferable because it provides the Company with additional time to complete the annual goodwill impairment test in advance of its year-end reporting. The Company will continue to perform interim impairment testing should circumstances or events require. This change does not result in a delay, acceleration, or avoidance of an impairment charge. This change will be applied prospectively because it is impracticable to apply it retrospectively due to the difficulty in making estimates and assumptions without using hindsight. The Company completed its annual goodwill review as of November 1, 2013 and determined that no impairment existed.

Intangible assets that are not deemed to have an indefinite life are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The pattern of amortization reflects the timing of the realization of the economic benefits of such intangible assets. For acquired customer contracts, the period of realization is deemed to be the period when the related revenue is recognized. This analysis is performed by comparing the carrying value of the intangible asset being reviewed for impairment to the current and expected future cash flows expected to be generated from such asset on an undiscounted basis, including eventual disposition. An impairment loss would be measured for the amount by which the carrying amount of the intangible asset exceeds its fair value.

See Note 9 of Notes to Consolidated Financial Statements with respect to goodwill and other intangible assets.

Derivative Instruments—A derivative is typically defined as an instrument whose value is “derived” from underlying assets, indices or reference rates, such as a future, forward, swap, or option contract, or other financial instrument with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount (e.g., interest rate swaps or currency forwards) or to purchase or sell other financial instruments at specified terms on a specified date (e.g., options to buy or sell securities or currencies).

The Company enters into forward foreign currency exchange rate contracts, interest rate swaps, interest rate futures, equity and fixed income swaps and other derivative contracts to economically hedge exposures to fluctuations in currency exchange rates, interest rates and equity and debt prices. The Company reports its derivative instruments separately as assets and liabilities unless a legal right of set-off exists under a master netting agreement enforceable by law. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the 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, in the consolidated statements of operations.

In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests awards (“Lazard Fund Interests”) 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 and other similar deferred compensation arrangements, which are reported in “revenue-other” in the consolidated statements of operations. For information regarding Lazard Fund Interests and other similar deferred compensation arrangements, see Notes 5, 7 and 14 of Notes to Consolidated Financial Statements.

Deposits and Other Customer Payables—Principally relates to LFB customer-related demand and time deposits, both interest-bearing and non-interest bearing, short-term inter-bank borrowings and amounts due on short-term collateralized borrowing activities. Collateralized borrowing activities amounted to $13,854 at December 31, 2012 and were fully collateralized with pledged assets of equal or greater value (no such collateralized borrowing activities existed at December 31, 2013).

Securities Sold, Not Yet Purchased—Securities sold, not yet purchased represents liabilities for securities sold for which payment has been received and the obligations to deliver such securities are included within “other liabilities” in the consolidated statements of financial condition. These securities are accounted for at fair value, with any increase or decrease in fair value recorded in earnings in accordance with standard securities industry practices. Such gains and losses are reflected in “revenue-other” in the consolidated statements of operations.

Fair Value of Financial Assets and Liabilities—The majority of the Company’s financial assets and liabilities are recorded at fair value or at amounts that approximate fair value. Such assets and liabilities include cash and cash equivalents, deposits with banks, cash deposited with clearing organizations and other segregated cash, receivables, investments (excluding investments accounted for at amortized cost, interest-bearing deposits or using the equity method of accounting), derivative instruments, deposits and other customer payables.

Revenue Recognition

Investment Banking and Other Advisory Fees—Fees for M&A and Other Advisory services and Restructuring advisory services are recorded when earned, which is generally the date the related transactions are consummated. Expenses that are directly related to such transactions and billable to clients are deferred to match revenue recognition. “Investment banking and other advisory fees” on the Company’s consolidated statements of operations are presented net of client reimbursements of expenses. The amount of expenses reimbursed by clients for the years ended December 31, 2013, 2012 and 2011 are $18,327, $24,762 and $18,942, respectively.

Money Management and Incentive Fees—Money management fees are derived from fees for investment management and advisory services provided to clients. Revenue is recorded on an accrual basis primarily based on a percentage of client assets managed. Fees vary with the type of assets managed, with higher fees earned on equity assets, alternative investment (such as hedge funds) and private equity funds, and lower fees earned on fixed income and money market products.

The Company earns performance-based incentive fees on various investment products, including traditional products and alternative investment funds such as hedge funds and private equity funds.

For hedge funds, incentive fees are calculated based on a specified percentage of a fund’s net appreciation, in some cases in excess of established benchmarks or thresholds. The Company records incentive fees on traditional products and hedge funds at the end of the relevant performance measurement period, when potential uncertainties regarding the ultimate realizable amounts have been determined. The incentive fee measurement period is generally an annual period (unless an account terminates during the year). The incentive fees received at the end of the measurement period are not subject to reversal or payback. Incentive fees on hedge funds generally are subject to loss carryforward provisions in which losses incurred by the hedge funds in any year are applied against certain gains realized by the hedge funds in future periods before any incentive fees can be earned.

For private equity funds, incentive fees may be earned in the form of a “carried interest” if profits arising from realized investments exceed a specified threshold. Typically, such carried interest is ultimately calculated on a whole-fund basis and, therefore, clawback of carried interests during the life of the fund can occur. As a result, incentive fees earned on our private equity funds are not recognized until potential uncertainties regarding the ultimate realizable amounts have been determined, including any potential for clawback.

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

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

Equity-Based Incentive Compensation Awards—Equity-based incentive compensation awards that do not require future service are expensed immediately. Equity-based compensation awards that require future service are amortized over the applicable vesting period, or requisite service period, based on the fair value of the Company’s Class A common stock on the date of grant. Equity-based incentive compensation is recognized in “compensation and benefits” expense.

Costs-Saving Initiatives and Staff Reductions—Charges associated with management-approved cost-saving plans or staff reductions can include severance costs, charges to vacate facilities and contract cancellation costs. Severance costs are generally accrued on the date that employees are notified of their benefits and other costs are generally accrued as the Company ceases to use facilities or cancels contracts. The Company records severance-related liabilities in “accrued compensation and benefits” and other types of liabilities in “other liabilities” in the consolidated statements of financial condition.

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

Substantially all of Lazard’s operations outside the U.S. are conducted in “pass-through” entities for U.S. income tax purposes and the Company provides for U.S. income taxes on a current basis for substantially all of those earnings. The repatriation of prior year earnings attributable to “non-pass-through” entities would not result in the recognition of a material amount of additional U.S. income taxes.

Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Such temporary differences are reflected as deferred tax assets and liabilities and are included in “other assets” and “other liabilities”, respectively, on the consolidated statements of financial condition. A deferred tax asset is recognized if it is more likely than not (defined as a likelihood of greater than 50%) that a tax benefit will be accepted by a taxing authority.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized and, when necessary, a valuation allowance is established. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the following possible sources of taxable income when assessing the realization of deferred tax assets:

•

future reversals of existing taxable temporary differences;

•

future taxable income exclusive of reversing temporary differences and carryforwards;

•

taxable income in prior carryback years; and

•

tax-planning strategies.

The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available positive and negative evidence, including, but not limited to, the following:

•

nature, frequency, and magnitude of any recent losses and current operating results;

•

duration of statutory carryforward periods;

•

historical experience with tax attributes expiring unused; and

•

near-term and medium-term financial outlook.

The Company records tax positions taken or expected to be taken in a tax return based upon the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority.

The Company recognizes interest and/or penalties related to unrecognized tax benefits in “income tax expense”. See Note 17 of Notes to Consolidated Financial Statements for additional information relating to income taxes.

The amount of cash paid during the year for income taxes shown on the consolidated statements of cash flows for the years ended December 31, 2012 and 2011 has been conformed to the current year presentation, which is net of refunds.

Recent Accounting Developments

12 Months Ended

Dec. 31, 2013

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Developments

3.	*RECENT ACCOUNTING DEVELOPMENTS*

Offsetting (Netting) Assets and Liabilities—In the first quarter of 2013, the Company adopted the new disclosure requirements issued by the FASB regarding the nature of an entity’s rights of setoff and related arrangements associated with its financial instruments, including derivatives, repurchase agreements and reverse repurchase agreements and securities borrowing and securities lending transactions that are either (i) offset or (ii) subject to an enforceable master netting arrangement. The new disclosures are designed to make financial statements prepared under U.S. GAAP more comparable to those prepared under International Financial Reporting Standards (“IFRS”) and will enable users of an entity’s financial statements to evaluate the effect or potential effect of netting arrangements on an entity’s financial position. The disclosure requirements are effective for interim and annual reporting periods beginning on or after January 1, 2013, with retrospective application required. The adoption of the new disclosure requirements did not have a material impact on the Company’s consolidated financial statements.

Reclassifications Out of Accumulated Other Comprehensive Income—In the first quarter of 2013, the Company adopted the FASB’s amended guidance regarding the presentation of amounts reclassified out of accumulated other comprehensive income. The amendment required that the amounts reclassified out of accumulated other comprehensive income be presented by component and disclosed where the respective line item was reported in the consolidated statement of operations. The amendment was to be applied prospectively, and is effective with interim and annual periods beginning after December 15, 2012, with early adoption permitted. The adoption of the amended guidance did not have a material impact on the Company’s consolidated financial statements.

Presentation of Unrecognized Tax Benefits—In July 2013, the FASB issued guidance on the presentation of unrecognized tax benefits when net operating losses or tax credit carryforwards exist. The guidance requires that the unrecognized tax benefit, or a portion of such unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except in certain situations, as defined in the guidance. The new presentation requirements are effective prospectively for interim and annual reporting periods beginning after December 15, 2013, with early adoption permitted. The Company elected to early adopt this guidance in the fourth quarter of 2013, the impact of which did not have a material impact on the Company’s consolidated financial statements.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

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

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

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

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Receivables

12 Months Ended

Dec. 31, 2013

Receivables [Abstract]

Receivables

4.	*RECEIVABLES*

The Company’s receivables represent receivables from fees, customers and other and related parties.

Receivables are stated net of an estimated allowance for doubtful accounts, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. Activity in the allowance for doubtful accounts for the years ended December 31, 2013, 2012 and 2011 was as follows:


	Year Ended December 31,
	2013		2012			2011
Balance, January 1	$	23,017	$	19,450		$	15,017
Bad debt expense		4,395		6,579			7,952
Charge-offs, foreign currency translation and other adjustments		1,365		(3,012	)		(3,519	)

Balance, December 31	$	28,777	$	23,017		$	19,450

At December 31, 2013 and 2012, the Company had receivables past due or deemed uncollectible of $39,341 and $25,604, respectively.

Of the Company’s fee receivables at December 31, 2013 and 2012, $69,464 and $76,481, respectively, represented interest-bearing financing receivables. Based upon our historical loss experience, the credit quality of the counterparties, and the lack of past due or uncollectible amounts, there was no allowance for doubtful accounts required at those dates related to such receivables.

The aggregate carrying amount of our non-interest bearing receivables of $443,211 and $401,562 at December 31, 2013 and 2012, respectively, approximates fair value.

Investments

12 Months Ended

Dec. 31, 2013

Investments Schedule [Abstract]

Investments

5.	*INVESTMENTS*

The Company’s investments and securities sold, not yet purchased, consist of the following at December 31, 2013 and 2012:


	December 31,
	2013		2012
Debt (including interest-bearing deposits of $516 and $578, respectively)	$	8,529	$	5,948

Equities		59,394		44,992

Funds:
Alternative investments (a)		37,030		57,890
Debt (a)		58,769		32,077
Equity (a)		190,702		154,310
Private equity		114,193		112,444

		400,694		356,721

Equity method		9,488		7,012

Total investments		478,105		414,673
Less:
Interest-bearing deposits		516		578
Equity method		9,488		7,012

Investments, at fair value	$	468,101	$	407,083

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,045	$	2,755

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $7,099, $31,515 and $130,481, respectively, at December 31, 2013 and $5,054, $18,615 and $76,907, respectively, at December 31, 2012, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests and other similar deferred compensation arrangements. Lazard Fund Interests represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds (see Notes 7 and 14 of Notes to Consolidated Financial Statements).

Debt securities primarily consist of seed investments invested in debt securities held within separately managed accounts related to our Asset Management business and non-U.S. government debt securities.

Equities primarily consist of seed investments invested in marketable equity securities of large-, mid- and small-cap domestic, international and global companies held within separately managed accounts related to our Asset Management business.

Interests in alternative investment funds primarily consist of interests in various Lazard-managed hedge funds and funds of funds.

Debt funds primarily consist of seed investments in funds related to our Asset Management business, which invest in debt securities, and amounts related to Lazard Fund Interests discussed above.

Equity funds primarily consist of seed investments in funds related to our Asset Management business, which are invested in equity securities, and amounts related 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 fund targeting significant noncontrolling-stake investments in established private companies, (iii) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a fund primarily making equity and buyout investments in middle market companies and (iv) Lazard Australia Corporate Opportunities Fund (“COF2”), a Lazard-managed Australian fund targeting Australian mid-market investments.

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 totaled $9,787 and $11,490 at December 31, 2013 and 2012, respectively (see Note 12 of Notes to Consolidated Financial Statements).

During the years ended December 31, 2013, 2012 and 2011, the Company reported in revenue-other on its consolidated statements of operations gross unrealized investment gains and losses pertaining to “trading” securities as follows:


	Year Ended December 31,
	2013		2012		2011
Gross unrealized investment gains	$	19,465	$	23,024	$	2,180
Gross unrealized investment losses	$	2,995	$	697	$	12,844

Fair Value Measurements

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

6.	*FAIR VALUE MEASUREMENTS*

Lazard categorizes its investments and certain other assets and liabilities recorded at fair value into a three-level fair value hierarchy as follows:

Level 1.

Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that Lazard has the ability to access.

Level 2.

Assets and liabilities whose values are based on (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 net asset value (“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 trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis, 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 non-U.S. Government and other debt securities are classified as Level 1 when their respective fair values are based on unadjusted quoted prices in active markets and are classified as Level 2 when their fair values are primarily based on prices as provided by external pricing services.

The fair value of equities is classified as Level 1 or Level 3 as follows: marketable equity securities are classified as Level 1 and are valued based on the last trade price on the primary exchange for that security as provided by external pricing services; equity securities in private companies are generally classified as Level 3.

The fair value of investments in alternative investment funds 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 external fund administrators.

The fair value of investments in debt funds is classified as Level 1 when the fair values are primarily based on the publicly reported closing price for the fund, and classified as Level 2 when the fair values are primarily based on NAV or its equivalent and are redeemable within the near term.

The fair value of investments in equity funds is classified as Level 1, 2 or 3 as follows: publicly traded asset management funds are classified as Level 1 and are valued based on the reported closing price for the fund; investments in asset management funds redeemable in the near term are classified as Level 2 and are valued at NAV or its equivalent, which is primarily determined based on information provided by external fund administrators; and funds valued based on NAV or its equivalent that are not redeemable within the near term are classified as Level 3.

The fair value of investments in private equity funds 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 two currencies 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 value of interest rate swaps is 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 forfeitures. See Note 7 of Notes to Consolidated Financial Statements.

Where reported information regarding an investment is based on data received from external fund administrators or pricing services, the Company reviews such information and classifies the investment at the relevant level within the fair value hierarchy.

The following tables present the classification of investments and certain other assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012 within the fair value hierarchy:



	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,681	$	6,332	$	–	$	8,013
Equities		58,054		–		1,340		59,394
Funds:
Alternative investments		–		37,030		–		37,030
Debt		58,765		4		–		58,769
Equity		190,660		42		–		190,702
Private equity		–		–		114,193		114,193
Derivatives		–		682		–		682

Total	$	309,160	$	44,090	$	115,533	$	468,783

Liabilities:
Securities sold, not yet purchased	$	4,045	$	–	$	–	$	4,045
Derivatives		–		164,001		–		164,001

Total	$	4,045	$	164,001	$	–	$	168,046



	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,443	$	3,927	$	–	$	5,370
Equities		44,802		–		190		44,992
Funds:
Alternative investments		–		54,433		3,457		57,890
Debt		32,073		4		–		32,077
Equity		145,231		9,069		10		154,310
Private equity		–		–		112,444		112,444
Derivatives		–		933		–		933

Total	$	223,549	$	68,366	$	116,101	$	408,016

Liabilities:
Securities sold, not yet purchased	$	2,696	$	59	$	–	$	2,755
Derivatives		–		102,492		–		102,492

Total	$	2,696	$	102,551	$	–	$	105,247

There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the years ended December 31, 2013 and 2012.

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets for the years ended December 31, 2013, 2012 and 2011:


	Year Ended December 31, 2013
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments		Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments		Ending Balance
Investments:
Equities	$	190	$	11	$	1,095	$	–		$	44	$	1,340
Alternative investment funds		3,457		117		–		(3,574	)		–		–
Equity funds		10		–		–		(10	)		–		–
Private equity funds		112,444		13,245		6,166		(19,231	)		1,569		114,193

Total Level 3 Assets	$	116,101	$	13,373	$	7,261	$	(22,815	)	$	1,613	$	115,533


	Year Ended December 31, 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	$	211	$	5		$	–	$	(30	)	$	4		$	190
Alternative investment funds		10,171		130			–		(6,844	)		–			3,457
Equity funds		–		–			10		–			–			10
Private equity funds		122,718		15,983			8,589		(35,796	)		950			112,444

Total Level 3 Assets	$	133,100	$	16,118		$	8,599	$	(42,670	)	$	954		$	116,101


	Year Ended December 31, 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	$	72		$	25	$	(195	)	$	(7	)	$	211
Alternative investment funds		–		(169	)		10,340		–			–			10,171
Private equity funds		163,482		(3,319	)		33,117		(69,218	)(b)		(1,344	)		122,718

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

(a)	Earnings for the years ended December 31, 2013, 2012 and 2011 include net unrealized gains (losses) of $6,032, $12,910 and $(3,268), respectively.

(b)	Sales/dispositions of private equity fund investments for the year ended December 31, 2011 include $49,500 in connection with a reduction of interests in a fund which ceased to be consolidated by the Company.

Financial Instruments Not Measured at Fair Value—The table below presents the carrying value, fair value and fair value hierarchy category of certain financial instruments as of December 31, 2013 and 2012 that are not measured at fair value in the Company’s consolidated statement of financial condition, and excludes certain financial instruments such as equity method investments.


	December 31, 2013
					Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	841,482	$	841,482		$841,482		$–		$–
Deposits with banks		244,879		244,879		244,879		–		–
Cash deposited with clearing organizations and other segregated cash		62,046		62,046		62,046		–		–
Interest-bearing financing receivables		69,464		71,433		–		–		71,433
Interest-bearing deposits (included within investments)		516		516		516		–		–

Financial Liabilities:
Deposits and other customer payables	$	275,434	$	275,434		$275,434	$	–	$	–
Senior debt		1,048,350		1,117,247		–		1,117,247		–


	December 31, 2012
					Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	850,190	$	850,190	$	850,190	$	–	$	–
Deposits with banks		292,494		292,494		292,494		–		–
Cash deposited with clearing organizations and other segregated cash		65,232		65,232		65,232		–		–
Interest-bearing financing receivables		76,481		78,493		–		–		78,493
Interest-bearing deposits (included within investments)		578		578		578		–		–

Financial Liabilities:
Deposits and other customer payables	$	269,763	$	269,763	$	269,763	$	–	$	–
Senior debt		1,076,850		1,207,227		–		1,207,227		–

Cash and cash equivalents are carried at either cost or amortized cost that approximates fair value due to their short-term maturities. Money market funds are valued through the use of quoted market prices, or $1.00 per share, which generally is the NAV of the fund.

The carrying value of deposits with banks, and cash deposited with clearing organizations and other segregated cash, approximates fair value because of the relatively short period of time between their origination and expected maturity.

Fair values of interest-bearing financing receivables were generally determined by discounting both principal and interest cash flows expected to be collected, using a discount rate approximating current market interest rates for comparable financial instruments and based on unobservable inputs.

The carrying value of deposits and other customer payables and investments accounted for at amortized cost, such as interest-bearing deposits, approximate fair value due to their short-term nature.

The Company’s senior debt is carried at historical amounts. The fair value of the Company’s senior debt is based on market quotations.

Fair Value of Certain Investments Based on NAV—The Company’s Level 2 and Level 3 investments at December 31, 2013 and 2012 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:

December 31, 2013

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds:

Hedge funds

31,837

–

(a)

<30-90 days

Funds of funds

475

–

(b)

<30-90 days

Other

4,718

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

–

(e)

30-90 days

Private equity funds:

Equity growth

70,054

27,135

100%

17%

60%

23%

Mezzanine debt

44,139

–

100%

–%

100%

Total

151,269

27,135

(a)	weekly (17%), monthly (65%) and quarterly (18%)

(b)	monthly (95%) and quarterly (5%)

(c)	daily (7%), weekly (1%) and monthly (92%)

(d)	daily (100%)

(e)	daily (13%), monthly (58%) and quarterly (29%)

December 31, 2012

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds:

Hedge funds

25,110

–

(a)

<30-90 days

Funds of funds

23,252

–

(b)

<30-120 days

Other

9,528

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

9,079

–

–%

(e)

30-120 days

Private equity funds:

Equity growth

71,068

31,482

100%

21%

61%

18%

Mezzanine debt

41,376

–

100%

–

100%

Total

179,417

31,482

Redemption frequency as follows:

(a)	weekly (20%), monthly (73%) and quarterly (7%)

(b)	monthly (2%) and quarterly (98%)

(c)	daily (60%), weekly (1%) and monthly (39%)

(d)	daily (100%)

(e)	daily (37%) and monthly (61%)

See Note 5 of Notes to Consolidated Financial Statements for discussion of significant investment strategies for investments with value based on NAV.

Investment Capital Funding Commitments—At December 31, 2013, the Company’s maximum unfunded commitments for capital contributions to investment funds arose from (i) commitments to CP II, which amounted to $1,940 for potential “follow-on investments” and/or for fund expenses through the earlier of February 25, 2017 or the liquidation of the fund, (ii) commitments to EGCP III, which amounted to $18,501, 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 commitments 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) commitments to COF2, which amounted to $6,694, 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 commitments 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.

The commitment regarding EGCP III described above reflects a March 1, 2012 reduction of $17,400 from the Company’s original commitment of $50,000 that an investor group, owned by current and former managing directors, including certain of our executive officers, assumed from the Company. In connection with their assumption of this assumed commitment, each investor received a right to collect a portion of the Company’s carried interest arising from EGCP III, to the extent any such carried interest is actually received by the Company, equal to 20% of the profit earned by such investor on his or her investment.

Derivatives

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives

7.	*DERIVATIVES*

The tables below present 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 obligation pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (see Note 14 of Notes to Consolidated Financial Statements) on the accompanying consolidated statements of financial condition as of December 31, 2013 and 2012:


	December 31,
	2013		2012
Derivative Assets:
Forward foreign currency exchange rate contracts	$	250	$	893
Equity and fixed income swaps and other (a)		432		40

	$	682	$	933

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,579	$	322
Interest rate swaps		–		235
Equity and fixed income swaps (a)		–		4,342
Lazard Fund Interests and other similar deferred compensation arrangements		162,422		97,593

	$	164,001	$	102,492

(a)

For equity and fixed income swaps, amounts represent the netting of gross derivative assets and liabilities of $2,019 and $1,587 as of December 31, 2013, respectively, and $0 and $4,342 as of December 31, 2012, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $11,384 and $15,304 as of December 31, 2013 and 2012, respectively.

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011, were as follows:


	Year Ended December 31,
	2013			2012			2011
Forward foreign currency exchange rate contracts	$	(3,162	)	$	(1,844	)	$	2,422
Lazard Fund Interests and other similar deferred compensation arrangements		(14,099	)		(7,557	)		3,024
Equity and fixed income swaps and other		(10,931	)		(18,327	)		4,276

	$	(28,192	)	$	(27,728	)	$	9,722

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ 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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Property

12 Months Ended

Dec. 31, 2013

Property Plant And Equipment [Abstract]

Property

8.	*PROPERTY*

At December 31, 2013 and 2012, property consists of the following:


	Estimated Depreciable Life in Years		December 31,
	Estimated Depreciable Life in Years		2013		2012
Buildings		33	$	173,772	$	166,560
Leasehold improvements		3-20		175,600		143,408
Furniture and equipment		3-10		149,598		122,125
Construction in progress				3,756		18,801

Total				502,726		450,894
Less - Accumulated depreciation and amortization				253,930		225,861

Property			$	248,796	$	225,033

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

9.	*GOODWILL AND OTHER INTANGIBLE ASSETS*

The components of goodwill and other intangible assets at December 31, 2013 and 2012 are presented below:


	December 31,
	2013		2012
Goodwill	$	345,453	$	364,328
Other intangible assets (net of accumulated amortization)		18,424		28,494

	$	363,877	$	392,822

At December 31, 2013 and 2012, goodwill of $280,912 and $299,787, respectively, was attributable to the Company’s Financial Advisory segment and, at each such respective date, $64,541 of goodwill was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the years ended December 31, 2013, 2012 and 2011 are as follows:


	Year Ended December 31,
	2013			2012		2011
Balance, January 1	$	364,328		$	356,657	$	313,229
Business acquisitions, including, in the 2011 period, additional contingent consideration earned relating to a prior year business acquisition		1,748			4,272		42,566
Foreign currency translation adjustments		(20,623	)		3,399		862

Balance, December 31	$	345,453		$	364,328	$	356,657

The Company evaluates goodwill for impairment annually or more frequently if circumstances indicate that impairment may have occurred. During the fourth quarter of 2013, the Company changed its annual impairment evaluation date from December 31 to November 1. Pursuant to the Company’s goodwill impairment review for the years ended December 31, 2013, 2012 and 2011, the Company determined that no impairment existed.

The gross cost and accumulated amortization of other intangible assets as of December 31, 2013 and 2012, by major intangible asset category, are as follows:


	December 31, 2013						December 31, 2012
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	17,173	$	13,567	$	30,740	$	10,678	$	20,062
Management fees, customer relationships and non-compete agreements		33,063		28,206		4,857		33,035		24,603		8,432

	$	63,803	$	45,379	$	18,424	$	63,775	$	35,281	$	28,494

Amortization expense of intangible assets for the years ended December 31, 2013, 2012 and 2011 was $10,114, $8,359 and $11,915, respectively. Estimated future amortization expense is as follows:


Year Ending December 31,	Amortization Expense (a)
2014	$	6,810
2015		6,433
2016		5,181

Total amortization expense	$	18,424

(a)

Approximately 43% 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

Other Assets and Other Liabilities

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Other Assets and Other Liabilities

10.

OTHER ASSETS AND OTHER LIABILITIES

The following table sets forth the Company’s other assets, by type, as of December 31, 2013 and 2012:


	December 31,
	2013		2012
Current tax receivables and deferred tax assets (net of valuation allowance) and other taxes	$	110,014	$	137,394
Prepaid compensation (see Note 14)		60,433		47,445
Other advances and prepayments		33,526		33,401
Deferred debt issuance costs		9,188		4,902
Other		46,116		45,264

Total	$	259,277	$	268,406

The following table sets forth the Company’s other liabilities, by type, as of December 31, 2013 and 2012:


	December 31,
	2013		2012
Accrued expenses	$	136,677	$	147,194
Current and deferred income taxes and other taxes		119,940		121,854
Employee benefit-related liabilities		104,013		83,629
Deferred lease incentives		84,897		74,880
Unclaimed funds at LFB		26,626		28,716
Abandoned leased space (principally in the U.K.)		12,855		8,475
Securities sold, not yet purchased		4,045		2,755
Other		24,374		32,148

Total	$	513,427	$	499,651

Senior and Subordinated Debt

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Senior and Subordinated Debt

11.

SENIOR AND SUBORDINATED DEBT

Senior Debt—Senior debt is comprised of the following as of December 31, 2013 and 2012:


	Initial Principal Amount		Maturity Date		Annual Interest Rate			Outstanding As Of December 31,
	Initial Principal Amount		Maturity Date		Annual Interest Rate			2013		2012
Lazard Group 7.125% Senior Notes (a)	$	550,000		5/15/15		7.125	%	$	–	$	528,500
Lazard Group 6.85% Senior Notes		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group 4.25% Senior Notes (b)		500,000		11/14/20		4.25	%		500,000		–
Lazard Group Credit Facility		150,000		9/25/15		0.79	%		–		–

Total								$	1,048,350	$	1,076,850

(a)

On November 6, 2013, the Company launched a tender for all of the outstanding 7.125% senior notes maturing on May 15, 2015 (the “2015 Notes”) and simultaneously announced a redemption notice for any notes not tendered. As a result, the outstanding 2015 Notes of $528,500 were extinguished in the fourth quarter of 2013, which resulted in a pre-tax loss on extinguishment of $50,757, including the recognition of unamortized issuance costs. As a result of the extinguishment, the unamortized amount of the interest rate hedge related to the 2015 Notes was also recognized, which resulted in a loss of $1,563. Both the loss on extinguishment and the loss related to the interest rate hedge were recorded in “operating expenses—other” in the consolidated statement of operations.

(b)

On November 14, 2013, and in connection with the redemption of the 2015 Notes, Lazard Group issued $500,000 aggregate principal amount of 4.25% senior notes maturing on November 14, 2020 (the “2020 Notes”). Interest on the 2020 Notes is payable semi-annually on May 14 and November 14 of each year commencing on May 14, 2014. In connection with the issuance of the 2020 Notes, the Company entered into and settled an interest rate forward agreement and recognized a related loss of $ 1,767. The loss was recorded in “operating expenses—other” in the consolidated statements of operations.

On September 25, 2012, Lazard Group entered into a $150,000, three-year senior revolving credit facility with a group of lenders (the “Credit Facility”), which expires in September 2015. The Credit Facility replaced a similar revolving credit facility which was terminated as a condition to effectiveness of the Credit Facility. Interest rates under the Credit Facility vary and are based on either a Federal Funds rate or a Eurodollar rate, in each case plus an applicable margin. As of December 31, 2013, the annual interest rate for a loan accruing interest (based on the Federal Funds overnight rate), including the applicable margin, was 0.79%. At December 31, 2013 and 2012, no amounts were outstanding under the Credit Facility or the prior revolving credit facility, respectively.

The Credit Facility contains customary terms and conditions, including certain financial covenants. In addition, the Credit Facility, the indenture and the supplemental indentures relating to Lazard Group’s senior notes contain certain covenants, events of default and other customary provisions, including a customary make-whole provision in the event of early redemption, where applicable. As of December 31, 2013, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured.

Debt maturities relating to senior borrowings outstanding at December 31, 2013 for each of the five years in the period ending December 31, 2018 and thereafter are set forth in the table below.


Year Ending December 31,
2014-2016	$	–
2017		548,350
2018		–
Thereafter		500,000

Total	$	1,048,350

The Company’s senior debt at December 31, 2013 and 2012 is carried at historical amounts. See Note 6 of Notes to Consolidated Financial Statements for information regarding the fair value and fair value hierarchy category of the Company’s senior debt.

As of December 31, 2013, the Company had approximately $258,000 in unused lines of credit available to it, including the Credit Facility, and unused lines of credit available to LFB of approximately $48,000 (at December 31, 2013 exchange rates) and Edgewater of $55,000. In addition, LFB has access to the Eurosystem Covered Bond Purchase Program of the Banque de France.

Subordinated Debt—On July 22, 2011, the Company repurchased its then outstanding $150,000 subordinated promissory note, at a cost, excluding accrued interest, of $131,829. Such repurchase resulted in a pre-tax gain of $18,171, which was recognized by the Company in the third quarter of 2011 and included in “revenue-other” on the accompanying consolidated statement of operations.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

12.

COMMITMENTS AND CONTINGENCIES

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

Operating lease agreements, in addition to base rentals, generally are subject to escalation provisions based on certain costs incurred by the landlord. For the years ended December 31, 2013, 2012 and 2011, aggregate rental expense relating to operating leases amounted to $86,504, $80,888 and $76,718, respectively, and is included in “occupancy and equipment” or “technology and information services” on the consolidated statements of operations, depending on the nature of the underlying asset. The Company subleases office space under agreements, which expire on various dates through 2033. Sublease income from such agreements was $11,404, $9,613 and $10,967 for the years ended December 31, 2013, 2012 and 2011, respectively, which includes sublease income of $4,136, $3,290 and $2,192, respectively, from an affiliate of LFCM Holdings, LLC (“LFCM Holdings”).

Capital lease obligations recorded under sale/leaseback transactions are payable through 2017 at a weighted average interest rate of approximately 6.2%. Such obligations are collateralized primarily by certain buildings with a net book value of approximately $19,876 and $21,932 at December 31, 2013 and 2012, respectively. The net book value of all assets recorded under capital leases aggregated $20,806 and $23,486 at December 31, 2013 and 2012, respectively.

At December 31, 2013, minimum rental commitments under non-cancelable leases, net of sublease income, are approximately as follows:


Year Ending December 31,	Minimum Rental Commitments
Year Ending December 31,	Capital		Operating
2014	$	3,221	$	81,467
2015		2,895		77,427
2016		2,579		74,420
2017		9,478		69,530
2018		–		65,232
Thereafter		–		650,050

Total minimum lease payments		18,173		1,018,126
Less amount representing interest		2,339

Present value of capital lease commitments	$	15,834

Less sublease proceeds				155,547

Net lease payments			$	862,579

With respect to abandoned leased facilities in the U.K., at December 31, 2013 and 2012, the Company has recognized liabilities of $11,203 and $7,516, respectively, which are included in “other liabilities” on the consolidated statements of financial condition. Payments toward the liabilities continue through the remaining term of the leases. Such liabilities are based on the discounted future commitment, net of expected sublease income.

Guarantees—In the normal course of business, LFB provides indemnifications to third parties to protect them in the event of non-performance by its clients. At December 31, 2013, LFB had $5,897 of such indemnifications and held $4,993 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.

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

The aggregate non-contingent consideration relating to the equity interests of LAM held by present and former employees of LAM and its subsidiaries consisted of (i) cash payments made from the closing of the LAM Merger through January 2, 2009 of approximately $60,000, (ii) a cash payment made on October 31, 2011 of approximately $90,000, (iii) the delivery on October 31, 2011 of 2,210,520 shares of Class A common stock and (iv) the satisfaction of Lazard’s minimum statutory tax withholding requirements for certain employees in lieu of delivering 68,384 shares of Class A common stock on October 31, 2011. In addition, with respect to certain former employees of LAM and its subsidiaries, as of December 31, 2013 and 2012, additional cash payments of $961 and additional issuances of 24,537 shares of Class A common stock are subject to delayed payment/issuance until the eighth anniversary of the closing of the LAM Merger because the applicable employees were no longer employed by Lazard or its affiliates on October 31, 2011, subject to certain exceptions.

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

The aggregate fair value of the consideration recognized by the Company at the acquisition date was $61,624. Such consideration consisted of (i) a one-time cash payment, (ii) 1,142,857 shares of Class A common stock (the “Initial Shares”) and (iii) up to 1,142,857 additional shares of Class A common stock (the “Earnout Shares”) that are subject to earnout criteria and payable over time. 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. As of December 31, 2013 and 2012, 1,371,992 and 1,209,154 shares, respectively, have been earned because applicable performance thresholds have been satisfied. Such shares are no longer subject to any contingencies. As of December 31, 2013 and 2012, 1,029,006 and 686,004, respectively, of such shares have been settled.

Contingent Consideration Relating To Other Business Acquisitions—For a business acquired in 2013, the Company was obligated to issue a maximum of 107,617 shares of Class A common stock if certain performance thresholds were achieved. The Company is no longer obligated to issue such shares.

For a business acquired in 2012, at December 31, 2012, 170,988 shares of Class A common stock (including dividend equivalent shares) were issuable on a non-contingent basis. Such shares were delivered in the first quarter of 2013. The Company is obligated to issue a maximum of 202,650 additional shares of Class A common stock if certain performance thresholds are achieved.

For a business acquired in 2011, the Company was obligated to pay earnout consideration if certain performance thresholds were achieved. The maximum potential earnout consideration payable by the Company could not exceed $7,000. For the years ended December 31, 2013 and 2012, no cash payments relating to the earnout consideration were required. As the performance thresholds ultimately were not achieved, the Company is no longer obligated to pay the earnout consideration.

Other Commitments—In the normal course of business, LFB enters into commitments to extend credit, predominately at variable interest rates. These commitments have varying expiration dates, 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. At December 31, 2013, these commitments were not material.

See Notes 6 and 15 of Notes to Consolidated Financial Statements for information regarding commitments relating to investment capital funding commitments and obligations to fund our pension plans, respectively.

The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, LFB enters into underwriting commitments in which it participates as a joint underwriter. The settlement of such transactions are not expected to have a material adverse effect on the Company’s consolidated financial position or results of operations. At December 31, 2013, LFB had no such underwriting commitments.

In the opinion of management, the fulfillment of the commitments described herein will not have a material adverse effect on the Company’s consolidated financial position or results of operations.

Legal—The Company is involved from time to time in judicial, regulatory and arbitration proceedings and inquiries concerning matters arising in connection with the conduct of our businesses, including proceedings initiated by former employees alleging wrongful termination. The Company reviews such matters on a case-by-case basis and establishes any required accrual if a loss is probable and the amount of such loss can be reasonably estimated. The Company experiences significant variation in its revenue and earnings on a quarterly basis. Accordingly, the results of any pending matter or matters could be significant when compared to the Company’s earnings in any particular fiscal quarter. The Company believes, however, based on currently available information, that the results of any pending matters, in the aggregate, will not have a material effect on its business or financial condition.

Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Stockholders' Equity

13.

STOCKHOLDERS’ EQUITY

Issuance of Class A Common Shares—During the year ended December 31, 2011, the Company issued an aggregate of 2,434,561 shares of Class A common stock and delivered 3,515,362 shares from Class A common stock held by its subsidiaries in connection with the LAM Merger (as described in Note 12 of Notes to Consolidated Financial Statements) and certain prior year business acquisitions.

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

During the years ended December 31, 2013, 2012 and 2011, Lazard Group distributed the following amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd:


	Year Ended December 31,
	2013		2012		2011
Tax distributions:
LAZ-MD Holdings	$	80	$	–	$	699
Subsidiaries of Lazard Ltd		2,896		–		16,800

	$	2,976	$	–	$	17,499

Other distributions:
LAZ-MD Holdings	$	920	$	5,170	$	4,383
Subsidiaries of Lazard Ltd		121,620		135,108		70,572

	$	122,540	$	140,278	$	74,955

Pursuant to Lazard Group’s Operating Agreement, Lazard Group allocates and distributes to its members a substantial portion of its distributable profits in installments, as soon as practicable after the end of each fiscal year. Such installment distributions usually begin in February.

Exchange of Lazard Group Common Membership Interests—During the years ended December 31, 2013, 2012 and 2011, Lazard Ltd issued 839,658, 5,207,112 and 876,814 shares of Class A common stock, respectively, in connection with the exchange of a like number of Lazard Group common membership interests (received from members of LAZ-MD Holdings in exchange for a like number of LAZ-MD Holdings exchangeable interests).

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

Share Repurchase Program—During the years ended December 31, 2013, 2012 and 2011, the Board of Directors of Lazard Ltd authorized the repurchase of Class A common stock and Lazard Group common membership interests as set forth in the table below.


Date	Share Repurchase Authorization		Expiration
February, 2011	$	250,000		December 31, 2012
October, 2011	$	125,000		December 31, 2013
April, 2012	$	125,000		December 31, 2013
October, 2012	$	200,000		December 31, 2014
October, 2013	$	100,000		December 31, 2015

The Company expects that the share repurchase program, with respect to the Class A common stock, will primarily be used 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. Purchases with respect to such program are set forth in the table below:


	Number of Shares/Common Membership Interests Purchased		Average Price Per Share/Common Membership Interest
Years Ending December 31:

2011		6,135,189	$	33.39
2012		12,817,196	$	27.66
2013		3,488,101	$	37.98

As a result of the delivery of shares of Class A common stock through December 31, 2013 relating to (i) the settlement of vested restricted stock units (“RSUs”) and deferred stock units (“DSUs”), (ii) the incentive plan share awards of shares of restricted Class A common stock, (iii) the delivery of shares of restricted Class A common stock in exchange for RSUs and (iv) the delivery of shares of Class A common stock in connection with business acquisitions and the LAM Merger, there were 8,317,065 and 12,802,938 shares of Class A common stock held by our subsidiaries at December 31, 2013 and 2012, respectively. Such shares of Class A common stock are reported, at cost, as “Class A common stock held by subsidiaries” on the accompanying consolidated statements of financial condition.

As of December 31, 2013, a total of $121,589 of share repurchase capacity remained available under the Company’s share repurchase authorizations, of which $21,589 and $100,000 will expire on December 31, 2014 and 2015, respectively.

Preferred Stock—Lazard Ltd has 15,000,000 authorized shares of preferred stock, par value $0.01 per share, inclusive of its Series A and Series B preferred stock. Series A and Series B preferred shares were issued in connection with certain prior year business acquisitions and are each non-participating securities convertible into Class A common stock, and have no voting or dividend rights. During the year ended December 31, 2011, 14,100 shares of Series A preferred stock was converted into shares of Class A common stock, resulting in the issuance of 2,434,561 shares of Class A common stock. As of both December 31, 2013 and 2012, 7,921 shares of Series A preferred stock were outstanding, and no shares of Series B preferred stock were outstanding. At December 31, 2013 and 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.

Accumulated Other Comprehensive Income (Loss), Net of Tax—The table below reflects the components of AOCI at December 31, 2013 and activity during the year then ended:


	Currency Translation Adjustments			Interest Rate Hedge			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2013	$	19,405		$	(2,502	)	$	(128,536	)	$	(111,633	)	$	(1,092	)	$	(110,541	)

Activity January 1 to December 31, 2013:
Other comprehensive gain (loss) before reclassifications		(15,536	)		–			(13,500	)		(29,036	)		495			(29,531	)
Adjustments for items reclassified to earnings, net of tax		–			2,502			4,605			7,107			39			7,068

Net other comprehensive income (loss)		(15,536	)		2,502			(8,895	)		(21,929	)		534			(22,463	)

Balance, December 31, 2013	$	3,869		$	–		$	(137,431	)	$	(133,562	)	$	(558	)	$	(133,004	)

The table below reflects adjustments for items reclassified out of AOCI, by component, for the year ended December 31, 2013:


Amortization of interest rate hedge	$	2,502	(a)

Amortization relating to employee benefit plans		6,534	(b)
Less – related income taxes		1,929

Net of tax		4,605

Total reclassifications, net of tax	$	7,107

(a)	Included in “interest expense” and “operating expenses—other” in the amounts of $939 and $1,563, respectively, on the consolidated statements of operations.

(b)	Included in the computation of net periodic benefit cost (see Note 15 of Notes to Consolidated Financial Statements). Such amount is included in “compensation and benefits” expense on the consolidated statement of operations.

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.

The following tables summarize the ownership interests in Lazard Group held by Lazard Ltd and LAZ-MD Holdings:


	Lazard Ltd					LAZ-MD Holdings					Total Lazard Group Common Membership Interests
As of December 31:	Common Membership Interests		% Ownership			Common Membership Interests		% Ownership			Total Lazard Group Common Membership Interests
2011		123,009,311		94.8	%		6,756,779		5.2	%		129,766,090
2012		128,216,423		98.8	%		1,549,667		1.2	%		129,766,090
2013		129,056,081		99.5	%		710,009		0.5	%		129,766,090

The change in Lazard Ltd’s ownership in Lazard Group in the years ended December 31, 2013, 2012 and 2011 did not materially impact Lazard Ltd’s stockholders’ equity.

The tables below summarize net income (loss) attributable to noncontrolling interests for the years ended December 31, 2013, 2012 and 2011 and noncontrolling interests as of December 31, 2013 and 2012 in the Company’s consolidated financial statements:


	Net Income (Loss) Attributable to Noncontrolling Interests Year Ended December 31,
	2013			2012			2011
Edgewater	$	3,913		$	3,491		$	4,130
LAZ-MD Holdings		1,198			5,114			11,964
Other		(209	)		(129	)		(452	)

Total	$	4,902		$	8,476		$	15,642


	Noncontrolling Interests As Of December 31,
	2013		2012
Edgewater	$	66,641	$	75,262
LAZ-MD Holdings		2,566		5,405
Other		582		1,217

Total	$	69,789	$	81,884

Dividends Declared, December 2013 and January 29, 2014—On December 10, 2013, the Board of Directors of Lazard Ltd (i) declared a special dividend of $0.25 per share on its Class A common stock payable on December 27, 2013 to stockholders of record on December 20, 2013 and (ii) on January 29, 2014, the Board of Directors of Lazard Ltd declared a quarterly dividend of $0.30 per share on its Class A common stock, payable on February 21, 2014, to stockholders of record on February 10, 2014.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Incentive Plans

12 Months Ended

Dec. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Incentive Plans

14.

INCENTIVE PLANS

Share-Based Incentive Plan Awards

A description of Lazard Ltd’s 2005 Plan and 2008 Plan and activity with respect thereto during the years ended December 31, 2013, 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, RSUs 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 at the date of grant.

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

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, performance-based restricted stock units (“PRSUs”) and restricted stock awards) and “professional services” expense (with respect to DSUs) within the Company’s accompanying consolidated statements of operations:


	Year Ended December 31,
	2013		2012		2011
Share-based incentive awards:
RSUs (a)	$	209,974	$	298,809	$	264,110
PRSUs		12,934		–		–
Restricted Stock (b)		11,374		10,003		9,767
DSUs		1,616		1,536		1,265

Total	$	235,898	$	310,348	$	275,142

(a)	Includes charges relating to the cost saving initiatives and staff reductions, as applicable, for the years ended December 31, 2013 and 2012, aggregating $9,099 and $26,158, respectively (see Note 16 of Notes to Consolidated Financial Statements).

(b)	Includes charges relating to the cost saving initiatives for the years ended December 31, 2013 and 2012, of $247 and $713, respectively.

The ultimate amount of compensation and benefits expense relating to share-based awards is dependent upon the actual number of shares of Class A common stock that vest. The Company periodically assesses the forfeiture rates used for such estimates. A change in estimated forfeiture rates results in a cumulative adjustment to previously recorded compensation and benefits expense and also would cause the aggregate amount of compensation expense recognized in future periods to differ from the estimated unrecognized compensation expense described below.

For purposes of calculating diluted net income per share, RSU and restricted stock awards are included in the diluted weighted average shares of Class A common stock outstanding using the “treasury stock” method. PRSUs are included in the diluted weighted average shares of Class A common stock outstanding to the extent the performance conditions are met at the end of the reporting period, also using the “treasury stock” method.

The Company’s incentive plans are described below.

RSUs and DSUs

RSUs generally require future service as a condition for the delivery of the underlying shares of Class A common stock (unless the recipient is then eligible for retirement under the Company’s retirement policy) and convert into Class A common stock on a one-for-one basis after the stipulated vesting periods. PRSUs, which are a form of RSUs that are also subject to service-based vesting conditions, have additional conditions, and are described below. The grant date fair value of the RSUs, net of an estimated forfeiture rate, is amortized over the vesting periods or requisite service periods (generally one-third after two years, and the remaining two-thirds after the third year), and is adjusted for actual forfeitures over such period.

RSUs generally include a dividend participation right that provides that during vesting periods each RSU is attributed additional RSUs (or fractions thereof) equivalent to any dividends paid on Class A common stock during such period. During the years ended December 31, 2013, 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:


	Year Ended December 31,
	2013		2012		2011
Number of RSUs issued		442,242		920,791		389,846
Charges to retained earnings, net of estimated forfeitures	$	16,476	$	24,990	$	11,120

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 39,315, 53,239 and 26,859 DSUs granted during the years ended December 31, 2013, 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 Directors’ Fee Deferral Unit Plan described below. DSUs are convertible into Class A common stock at the time of cessation of service to the Board 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 years ended December 31, 2013, 2012 and 2011.

The Company’s Directors’ Fee Deferral Unit Plan permits its Non-Executive Directors to elect to receive additional DSUs pursuant to the 2005 Plan in lieu of some or all of their cash fees. The number of DSUs that shall be granted to a Non-Executive Director pursuant to this election will equal the value of cash fees that the applicable Non-Executive Director has elected to forego pursuant to such election, divided by the market value of a share of Class A common stock on the date on which the foregone cash fees would otherwise have been paid. During the years ended December 31, 2013, 2012 and 2011, 7,623, 10,597 and 8,184 DSUs, respectively, had been granted pursuant to such Plan.

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

The following is a summary of activity relating to RSUs and DSUs during the three-year period ended December 31, 2013:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2011		22,108,635		$	35.67		121,737		$	34.46
Granted (including 389,846 RSUs relating to dividend participation)		7,002,736		$	43.21		35,043		$	36.09
Forfeited		(305,155	)	$	37.83		–			–
Vested		(8,054,387	)	$	39.13		(16,120	)	$	34.76

Balance, December 31, 2011		20,751,829		$	36.84		140,660		$	34.83
Granted (including 920,791 RSUs relating to dividend participation)		8,594,744		$	27.68		63,836		$	24.06
Forfeited		(581,411	)	$	35.59		–			–
Vested/Exchanged		(7,284,031	)	$	34.71		–			–

Balance, December 31, 2012		21,481,131		$	33.92		204,496		$	31.47
Granted (including 442,242 RSUs relating to dividend participation)		5,174,810		$	37.21		46,938		$	34.42
Forfeited		(268,900)		$	34.47		–			–
Vested		(9,768,849)		$	34.65		–			–

Balance, December 31, 2013		16,618,192		$	34.51		251,434		$	32.02

During the years ended December 31, 2013, 2012 and 2011, 9,768,849, 7,284,031 and 8,054,387 RSUs vested or were exchanged, respectively (including, in 2012, 1,523,642 RSUs that were exchanged for shares of restricted Class A common stock and 958,213 RSUs that were modified through forward purchase agreements into a liability award of $28,612). As of the modification date in 2012, the Company recorded a liability in “accrued compensation and benefits” of $26,922 related to such liability award and an offsetting reduction to “additional paid-in-capital”. Such liability awards were settled on March 1, 2013 for $28,612. During the year ended December 31, 2013, compensation expense of $1,690 was recorded for such liability awards. In connection with the vested RSUs, the Company satisfied its minimum statutory tax withholding requirements in lieu of issuing 3,651,050, 1,471,814 and 2,353,561 shares of Class A common stock in the years ended December 31, 2013, 2012 and 2011, respectively. Accordingly, 6,117,799, 3,330,362, and 5,700,826 shares of Class A common stock held by the Company were delivered during the years ended December 31, 2013, 2012 and 2011, respectively.

As of December 31, 2013, unrecognized RSU compensation expense, adjusted for estimated forfeitures, was approximately $156,537, with such unrecognized compensation expense expected to be recognized over a weighted average period of approximately 1.0 years subsequent to December 31, 2013.

Restricted Stock

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the three-year period ended December 31, 2013:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2011		95,332		$	37.63
Granted		327,238		$	43.70
Vested		(327,238	)	$	43.70

Balance, December 31, 2011		95,332		$	37.63
Granted/Exchanged (a)		2,100,965		$	34.34
Forfeited		(21,178	)	$	29.51
Vested		(202,510	)	$	31.43

Balance, December 31, 2012		1,972,609		$	34.85
Granted		368,736		$	36.74
Forfeited		(37,782	)	$	33.37
Vested		(1,728,509	)	$	36.00

Balance, December 31, 2013		575,054		$	32.72

(a)

Includes, during the year ended December 31, 2012, as described above, 1,523,642 shares of restricted Class A common stock issued in exchange for 1,523,642 previously granted RSUs at a grant date fair value of $35.95 per share. The vesting terms of such restricted Class A common stock issued were substantially the same as those of the original awards exchanged. There was no incremental compensation cost incurred as a result of the exchanges.

As mentioned above, during 2012, the Company exchanged 1,523,642 RSUs for shares of restricted Class A common stock.

In connection with shares of restricted Class A common stock that vested during the years ended December 31, 2013 and 2012, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 18,599 and 28,129 shares of Class A common stock during such respective years. Accordingly, 1,709,910 and 174,381 shares of Class A common stock held by the Company were delivered during the years ended December 31, 2013 and 2012, respectively.

The awards include a cash dividend participation right equivalent to any dividends paid on Class A common stock during the period, which will vest concurrently with the underlying restricted stock award. At December 31, 2013, unrecognized restricted stock expense was approximately $7,361, with such expense to be recognized over a weighted average period of approximately 1.2 years subsequent to December 31, 2013.

PRSUs

During the year ended December 31, 2013, the Company granted 448,128 PRSUs. The PRSUs are subject to both performance-based and service-based vesting conditions. The number of shares of Class A common stock that a recipient will receive upon vesting of a PRSU will be calculated by reference to certain performance metrics that relate to the Company’s performance over the three-year period beginning on January 1, 2012 and ending on December 31, 2014. The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU can range from zero to two times the target number (or, for the PRSUs granted in 2013, three times the target number in the event of a substantial increase in 2014 in our revenue (adjusted for certain items)). The PRSUs granted in 2013 will vest 33% in March 2015 and 67% in March 2016, provided the applicable service and performance conditions are satisfied. In addition, the performance metrics applicable to each PRSU will be evaluated on an annual basis at the end of each fiscal year during the performance period and, if the Company has achieved a threshold level of performance with respect to the fiscal year, 25% of the target number of shares of Class A common stock subject to each PRSU will no longer be at risk of forfeiture based on the achievement of performance criteria. PRSUs generally include dividend participation rights. In October 2013, the Company modified the outstanding PRSUs that may vest above the level of two times target to add incremental performance criteria. Pursuant to the modification, in addition to the previously applicable performance criteria, the Company would also have to achieve a particular level of fiscal year 2014 revenue (adjusted for certain items) in order for the PRSUs to vest between a level of two to three times the target level.

Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value of $36.11 per share. As of December 31, 2013, the total estimated unrecognized compensation expense for PRSUs granted in 2013 was approximately $19,430, and the Company expects to amortize such expense over a weighted-average period of approximately 1.4 years.

Lazard Fund Interests and Other Similar Deferred Compensation Arrangements

Commencing in February 2011, the Company granted Lazard Fund Interests to eligible employees. 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 (which are generally similar to the comparable periods for RSUs), 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.

The following is a summary of activity relating to Lazard Fund Interests and other similar deferred compensation arrangements during the years ended December 31, 2013 and 2012:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2013	$	47,445		$	97,593
Granted		72,217			72,217
Settled		–			(24,006	)
Forfeited		(1,075	)		(1,544	)
Amortization		(58,023	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			14,099
Adjustment for estimated forfeitures		–			4,643
Other		(131	)		(580	)

Balance, December 31, 2013	$	60,433		$	162,422


	Prepaid Compensation			Compensation Liability
Balance, January 1, 2012	$	17,783		$	29,900
Granted		64,679			64,679
Settled		–			(10,646	)
Forfeited		(1,603	)		(1,711	)
Amortization		(33,476	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			7,557
Adjustment for estimated forfeitures		–			7,841
Other		62			(27)

Balance, December 31, 2012	$	47,445		$	97,593

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 1.5 years subsequent to December 31, 2013.

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 consolidated statements of operations for the years ended December 31, 2013 and 2012:


	Year Ended December 31,
	2013		2012		2011
Amortization, net of forfeitures (a)	$	62,197	$	41,209	$	14,551
Change in the fair value of underlying investments		14,099		7,557		(3,024	)

Total	$	76,296	$	48,766	$	11,527

(a)	Includes charges relating to the cost saving initiatives for the years ended December 31, 2013 and 2012, of $2,665 and $3,495, respectively.

Incentive Awards Granted In February 2014

In February 2014, the Company granted approximately $275,000 of deferred incentive awards (excluding PRSUs) to eligible employees. These grants included: RSUs or shares of restricted Class A common stock; deferred incentive awards that allow eligible employees the choice of receiving a portion of their award in a combination of (i) Lazard Fund Interests and (ii) additional RSUs or shares of restricted Class A common stock; deferred cash awards; and a portion of fund managers’ year-end incentive compensation that is reinvested in certain asset management funds. In addition, the Company granted approximately $16,000 of PRSUs (valued at the target payout level).

The RSUs, restricted Class A common stock and Lazard Fund Interests granted each provide for one-third vesting on March 1, 2016 and the remaining two-thirds vesting on March 1, 2017. The PRSUs granted provide for cliff vesting in March 2017, provided that the applicable service and performance conditions are satisfied, and will convert into Class A common stock within a range equal to zero to two times the target number of shares of Class A common stock subject to the awards. Compensation expense with respect to such incentive awards will generally be recognized over the vesting period, with such compensation expense to be recognized over a weighted average period of approximately 2.7 years.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2013

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

15.

EMPLOYEE BENEFIT PLANS

The Company provides retirement and other post-retirement benefits to certain of its employees through defined benefit pension plans (the “pension plans”) and, in the U.S., a partially funded contributory post-retirement plan covering qualifying U.S. employees (the “medical plan” and together with the pension plans, the “post-retirement plans”). The Company also offers defined contribution plans. The post-retirement plans generally provide benefits to participants based on average levels of compensation. Expenses related to the Company’s employee benefit plans are included in “compensation and benefits” expense on the 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 did not make a contribution to the U.S. pension plans during the year ended December 31, 2013. The Company does not expect to make a contribution to the U.S. pension plans during the year ending December 31, 2014.

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) agreed to 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 inclusive. 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 was approximately $16,900 and $16,500 at December 31, 2013 and 2012 and has been recorded in “cash deposited with clearing organizations and other segregated cash” on the accompanying consolidated statements of financial condition. Income on the account security arrangement accretes to the Company and is recorded in interest income.

During the year ended December 31, 2013, the Company contributed 1.4 million British pounds to these U.K. pension plans and expects to contribute a similar amount during the year ending December 31, 2014. Additionally, during the year ended December 31, 2013, no contributions were made to other non-U.S. pension plans. The Company expects to contribute approximately $4,800 to these other non-U.S. pension plans during the year ending December 31, 2014.

The following table summarizes the changes in the benefit obligations, the fair value of the assets, the funded status and amounts recognized in the consolidated statements of financial condition for the post-retirement plans. The Company uses December 31 as the measurement date for its post-retirement plans.


	Pension Plans						Medical Plan
	2013			2012			2013			2012
Change in benefit obligation
Benefit obligation at beginning of year	$	656,025		$	575,031		$	5,668		$	5,362
Service cost		940			670			53			60
Interest cost		27,219			27,636			182			211
Actuarial (gain) loss		32,329			57,057			(647	)		310
Benefits paid		(23,258	)		(26,420	)		(176	)		(275	)
Foreign currency translation and other adjustments		16,595			22,051

Benefit obligation at end of year		709,850			656,025			5,080			5,668

Change in plan assets
Fair value of plan assets at beginning of year		607,705			568,911
Actual return on plan assets		41,353			33,882
Employer contributions		2,274			8,221			176			275
Benefits paid		(23,258	)		(26,420	)		(176	)		(275	)
Foreign currency translation and other adjustments		15,770			23,111

Fair value of plan assets at end of year		643,844			607,705			–			–

Funded (deficit) at end of year	$	(66,006	)	$	(48,320	)	$	(5,080	)	$	(5,668	)

Amounts recognized in the consolidated statements of financial condition at December 31, 2013 and 2012 consist of:
Prepaid pension asset (included in “other assets”)	$	148		$	2,659
Accrued benefit liability (included in “other liabilities”)		(66,154	)		(50,979	)	$	(5,080	)	$	(5,668	)

Net amount recognized	$	(66,006	)	$	(48,320	)	$	(5,080	)	$	(5,668	)

Amounts recognized in AOCI (excluding tax benefits of $30,448 and $25,989 at December 31, 2013 and 2012, respectively) consist of:
Actuarial net loss (gain)	$	159,575		$	143,133		$	(597	)	$	50
Prior service cost		8,901			11,342			–			–

Net amount recognized	$	168,476		$	154,475		$	(597	)	$	50

The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2013 and 2012:


	U.S. Pension Plans As Of December 31,				Non-U.S. Pension Plans As Of December 31,				Total As Of December 31,
	2013		2012		2013		2012		2013		2012
Fair value of plan assets	$	26,200	$	25,231	$	617,644	$	582,474	$	643,844	$	607,705
Accumulated benefit obligation	$	29,427	$	35,276	$	680,423	$	620,749	$	709,850	$	656,025
Projected benefit obligation	$	29,427	$	35,276	$	680,423	$	620,749	$	709,850	$	656,025

The following table summarizes the components of net periodic benefit cost (credit), the return on plan assets, benefits paid, contributions and other amounts recognized in AOCI for the years ended December 31, 2013, 2012 and 2011:


	Pension Plans For The Years Ended December 31,									Medical Plan For The Years Ended December 31,
	2013			2012			2011			2013			2012		2011
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	940		$	670		$	651		$	53		$	60	$	69
Interest cost		27,219			27,636			28,266			182			211		278
Expected return on plan assets		(27,078	)		(26,657	)		(30,490	)
Amortization of:
Prior service cost		2,843			2,751			2,979
Net actuarial loss		3,691			1,658			258
Settlement loss (a)		–			1,135

Net periodic benefit cost	$	7,615		$	7,193		$	1,664		$	235		$	271	$	347


Actual return on plan assets	$	41,353		$	33,882		$	29,870		$
Employer contributions	$	2,274		$	8,221		$	8,689		$	176		$	275	$	347
Benefits paid	$	23,258		$	26,420		$	21,718		$	176		$	275	$	347
Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax benefit of $4,459, $11,805 and $11,495 during the years ended December 31, 2013, 2012 and 2011, respectively):
Net actuarial (gain) loss	$	17,251		$	50,209		$	51,703		$	(647	)	$	310	$	(438	)
Reclassification of prior service (cost) credit to earnings		(2,843	)		(2,751	)		(2,979	)
Reclassification of actuarial loss to earnings		(3,691	)		(2,793	)		(258	)
Currency translation and other adjustments		3,284			2,729			(491	)

Total recognized in AOCI	$	14,001		$	47,394		$	47,975		$	(647	)	$	310	$	(438	)

Net amount recognized in total periodic benefit cost and AOCI	$	21,616		$	54,587		$	49,639		$	(412	)	$	581	$	(91	)

(a)

During the year ended December 31, 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 $2,167 recorded in “other comprehensive income (loss), net of tax” (“OCI”), which, combined with a settlement loss of $1,135 recognized in “compensation and benefits” expense, resulted in a net charge to OCI of $1,032.

The amounts in AOCI on the consolidated statement of financial condition as of December 31, 2013 that are expected to be recognized as components of net periodic benefit cost (credit) for the year ending December 31, 2014 are as follows:


	Pension Plans		Medical Plan			Total
Prior service cost	$	2,954	$	–		$	2,954
Net actuarial loss (gain)	$	4,451	$	(90	)	$	4,361

The assumptions used to develop actuarial present value of the projected benefit obligation and net periodic pension cost as of or for the years ended December 31, 2013, 2012 and 2011 are set forth below:


	Pension Plans December 31,								Medical Plan December 31,
	2013		2012			2011			2013		2012		2011
Weighted average assumptions used to determine benefit obligations:
Discount rate		4.3%		4.6	%		4.8	%		4.3%		3.4%		4.1%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		3.3%		3.2	%		4.7	%		3.4%		4.1%		5.0%
Expected long-term rate of return on plan assets		4.7%		4.7	%		5.4	%		–		–		–
Healthcare cost trend rates used to determine net periodic benefit cost:
Initial										8.0%		8.0%		8.0%
Ultimate										5.0%		6.0%		6.0%
Year ultimate trend rate achieved										2019		2016		2015

Generally, the Company determined the discount rates for its defined benefit plans by utilizing indices for long-term, high-quality bonds and ensuring that the discount rate does not exceed the yield reported for those indices after adjustment for the duration of the plans’ liabilities.

In selecting the expected long-term rate of return on plan assets, the Company considered the average rate of earnings expected on the funds invested or to be invested to provide for the benefits of the plan, giving consideration to expected returns on different asset classes held by the plans in light of prevailing economic conditions as well as historic returns. This basis is consistent for all years presented.

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


	1% Increase				1% Decrease
	2013		2012		2013			2012
Cost	$	33	$	44	$	(24	)	$	(31	)
Obligation	$	675	$	880	$	(494	)	$	(610	)

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


	Pension Plans		Medical Plan
2014	$	23,736	$	397
2015		25,095		398
2016		26,473		395
2017		26,721		392
2018		28,761		391
2019-2023		163,107		1,894

Plan Assets—The following tables present the categorization of our pension plans’ assets as of December 31, 2013 and 2012, measured at fair value, into a fair value hierarchy in accordance with fair value measurement disclosure requirements:



	As of December 31, 2013
	Level 1		Level 2		Level 3		Total
Asset Category
Cash	$	5,835	$	–	$	–	$	5,835
Debt		43,764		–		–		43,764
Equities		27,762		–		–		27,762
Funds:
Alternative investments		907		43,123		698		44,728
Debt		11,942		323,812		2,222		337,976
Equity		183,779		–		–		183,779

Total	$	273,989	$	366,935	$	2,920	$	643,844


	As of December 31, 2012
	Level 1		Level 2		Level 3		Total
Asset Category
Cash	$	10,714	$	–	$	–	$	10,714
Debt		47,298		–		–		47,298
Equities		29,337		–		–		29,337
Funds:
Alternative investments		–		39,930		404		40,334
Debt		12,430		307,695		2,024		322,149
Equity		157,873		–		–		157,873

Total	$	257,652	$	347,625	$	2,428	$	607,705

Activity in the fair value of the pension plans’ Level 3 debt and alternative investment funds for the years ended December 31, 2013 and 2012 consisted of net unrealized/realized gains of $434 and $443, respectively, favorable foreign currency translation adjustments of $58 and $77, respectively, and in 2012, purchases of $131.

Included in Level 1 equity funds are $81,633 and $106,873 as of December 31, 2013 and 2012, respectively, that are invested in funds managed by LAM.

Consistent with the plans’ investment strategies, at December 31, 2013 and 2012, the Company’s U.S. pension plan had 54% and 51%, respectively, of the plans’ assets invested in Level 1 equity funds and 46% and 49%, respectively, invested in Level 1 debt funds. The Company’s non-U.S. pension plans at December 31, 2013 and 2012 had 32% and 30%, respectively, of the plans’ assets invested in equities and equity funds that are primarily Level 1 assets; 60% and 61%, respectively of the plans’ assets invested in debt and debt funds that are primarily Level 2 assets, and 8% and 9%, respectively, of the plans’ assets invested in cash, which is a Level 1 asset, or in alternative investment funds that are primarily Level 2 assets.

Investment Policies and Strategies—The primary investment goal is to ensure that the plans remain well funded, taking account of the likely future risks to investment returns and contributions. As a result, a portfolio of assets is maintained with appropriate liquidity and diversification that can be expected to generate long-term future returns that minimize the long-term costs of the pension plans without exposing the trust to an unacceptable risk of under-funding. The Company’s likely future ability to pay such contributions as are required to maintain the funded status of the plans over a reasonable time period is considered when determining the level of risk that is appropriate. The fair value of plan investments classified as Level 1 assets are based on market quotes. The fair value of plan assets classified as Level 2 assets are primarily valued based on inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data. The fair value of plan investments classified as Level 3 assets are primarily based on NAV determined based on information provided by external fund administrators.

Defined Contribution Plans—Pursuant to certain matching contributions, the Company contributes to employer sponsored defined contribution plans. Such contributions amounted to $11,778, $13,070 and $10,944 for the years ended December 31, 2013, 2012 and 2011, respectively, which are included in “compensation and benefits” expense on the consolidated statements of operations.

Cost Saving Initiatives

12 Months Ended

Dec. 31, 2013

Restructuring And Related Activities [Abstract]

Cost Saving Initiatives

16.

COST SAVING INITIATIVES

Cost Saving Initiatives—In October 2012, the Company announced cost saving initiatives (the “Cost Saving Initiatives”) relating to the Company’s operations. These initiatives include streamlining our corporate structure and consolidating support functions; realigning our investments into areas with potential for the greatest long-term return; the settlement of certain contractual obligations; reducing occupancy costs; and creating greater flexibility to retain and attract the best people and invest in new growth areas.

Expenses associated with the implementation of the Cost Saving Initiatives were completed during the year ended December 31, 2013. The Company incurred these expenses, by segment, as reflected in the tables below:


	Financial Advisory		Asset Management			Corporate		Total
Year Ended December 31, 2013:
Compensation and benefits	$	45,746	$	236		$	5,417	$	51,399
Other		2,033		(1	)		11,272		13,304

Total	$	47,779	$	235		$	16,689	$	64,703


	Financial Advisory		Asset Management			Corporate		Total
Cumulative October 2012 Through December 31, 2013:
Compensation and benefits	$	121,879	$	12,292		$	17,215	$	151,386
Other		3,432		732			11,729		15,893

Total	$	125,311	$	13,024		$	28,944	$	167,279

Activity related to the obligations pursuant to the Cost Saving Initiatives during 2013 was as follows:


	Accrued Compensation and Benefits			Other Liabilities			Total
Balance, January 1, 2013	$	46,128		$	1,714		$	47,842
New charges		51,399			13,304			64,703
Less:
Non-cash charges		(12,007	)		(3,387	)		(15,394	)
Settlements		(73,660	)		(6,275	)		(79,935	)

Balance, December 31, 2013	$	11,860		$	5,356		$	17,216

Income Taxes

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

17.

INCOME TAXES

As a result of its indirect investment in Lazard Group, Lazard Ltd, through certain of its subsidiaries, is subject to U.S. federal income taxes on its portion of Lazard Group’s operating income. Although a portion of Lazard Group’s income is subject to U.S. federal income taxes, Lazard Group primarily operates in the U.S. as a limited liability company that is treated as a partnership for U.S. federal income tax purposes. As a result, Lazard Group’s income from its U.S. operations is generally not subject to U.S. federal income taxes because such income is attributable to its partners. In addition, Lazard Group is subject to UBT which is attributable to Lazard Group’s operations apportioned to New York City. UBT is incremental to the U.S. federal statutory tax rate. Outside the U.S., Lazard Group operates principally through subsidiary corporations that are subject to local income taxes.

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.

The components of the Company’s provision (benefit) for income taxes for the years ended December 31, 2013, 2012 and 2011, and a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rates for such years, are shown below.


	Year Ended December 31,
	2013			2012			2011
Current:
Federal	$	(3,678	)	$	2,094		$	(501	)
Foreign		41,084			27,650			35,885
State and local (primarily UBT)		(167	)		5,813			2,342

Total current		37,239			35,557			37,726

Deferred:
Federal		19,934			(3,330	)		16,167
Foreign		(4,520	)		(1,127	)		(2,832	)
State and local (primarily UBT)		(960	)		–			(6,121	)

Total deferred		14,454			(4,457	)		7,214

Total	$	51,693		$	31,100		$	44,940


	Year Ended December 31,
	2013			2012			2011
U.S. federal statutory income tax rate		35.0	%		35.0	%		35.0	%
Income of noncontrolling interests		(0.8	)		(2.4	)		(2.0	)
Share-based incentive compensation		–			7.4			–
Foreign source income not subject to U.S. income tax		(12.7	)		(34.6	)		(13.8	)
Foreign taxes		14.1			13.5			8.3
State and local taxes (primarily UBT)		2.6			3.4			0.9
Change in U.S. federal valuation allowance		(14.9	)		1.4			(8.3	)
Other, net		0.5			1.4			(1.0	)

Effective income tax rate		23.8	%		25.1	%		19.1	%

See Note 21 of Notes to Consolidated Financial Statements regarding operating income (loss) by geographic region.

Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated statements of financial condition. These temporary differences result in taxable or deductible amounts in future years. Details of the Company’s deferred tax assets and liabilities, which are included in “other assets” and “other liabilities”, respectively, on the consolidated statements of financial condition, are as follows:


	December 31,
	2013			2012
Deferred Tax Assets:
Basis adjustments (primarily as a result of the separation and recapitalization transactions that occurred during 2005 and from secondary offerings)	$	739,059		$	820,229
Compensation and benefits		250,413			243,564
Net operating loss and tax credit carryforwards		348,433			308,233
Depreciation and amortization		8,169			3,404
Other		58,273			30,626

Gross deferred tax assets		1,404,347			1,406,056
Valuation allowance		(1,225,305	)		(1,238,765	)

Deferred tax assets (net of valuation allowance)	$	179,042		$	167,291

Deferred Tax Liabilities:
Depreciation and amortization	$	19,296		$	33,715
Compensation and benefits		30,042			4,292
Goodwill		15,434			15,843
Other		70,394			50,648

Deferred tax liabilities	$	135,166		$	104,498

The basis adjustments recorded as of December 31, 2013 and 2012 are the result of:

•

purchases and redemptions of historical and working member interests consummated in connection with the separation and recapitalization of the Company, which resulted in deferred tax assets of $123,027 and $158,459 at December 31, 2013 and 2012, respectively,

•

tax basis step-ups resulting from the exchange of LAZ-MD exchangeable interests and from secondary offerings, and associated with the LAM Merger, which in the aggregate resulted in deferred tax assets of $603,552 and $638,993 at December 31, 2013 and 2012, respectively,

•

tax basis step-up for U.S. income tax purposes on certain U.K. assets, which resulted in deferred tax assets of $6,538 and $16,083 at December 31, 2013 and 2012, respectively, and

•

tax basis step-up for payments made under the tax receivable agreement of $5,942 and $6,694 at December 31, 2013 and 2012, respectively.

Although we have been profitable on a consolidated basis in the last three years, certain of our tax-paying entities have individually experienced minimal profits on a cumulative three-year basis and losses in 2012, primarily due to permanent differences between net income and taxable income at such entities. Considering the recent operating results of such entities, we have recorded valuation allowances on our deferred tax assets of $1,225,305 and $1,238,765 as of December 31, 2013 and December 31, 2012, respectively. The valuation allowance at December 31, 2013 reflects a net decrease of $13,460 from the balance of $1,238,765 at December 31, 2012. This net decrease in the valuation allowance for the year ended December 31, 2013 consists of additions of $13,375 and $22,010 for the amounts charged to income tax expense and stockholders’ equity, respectively, and a deduction of $48,845 which was credited to income tax expense.

As mentioned previously, certain of our tax-paying entities have individually experienced minimal profits on a cumulative basis over the past several years and losses in 2012. Taking into account all available information, we cannot determine that it is more likely than not that deferred tax assets will be realized. If the cumulative positive information outweighs the negative, including among other matters the achievement by the relevant tax-paying entities of sustainable levels of profitability, the evaluation of the realizability of the deferred tax assets could change and a significant amount of the valuation allowance could be released in whole or in part. This could occur at some point or points over the next few years, including as early as the end of 2014. If any significant valuation allowance reduction were to occur, we would likely have a negative effective tax rate in the period in which such reduction occurs.

The Company had net operating loss and tax credit carryforwards for which related deferred tax assets were recorded at December 31, 2013 primarily relating to:

(i)

indefinite-lived carryforwards (subject to various limitations) of approximately $74,619, primarily in the U.K., France, Australia, Italy, Germany, Singapore and Italy; and

(ii)

certain carryforwards of approximately $266,243 in the U.S., which begin expiring in 2029.

As a result of certain realization requirements regarding share-based incentive plan awards, certain deferred tax assets pertaining to tax deductions related to equity compensation in excess of compensation recognized for financial reporting that would otherwise have been recognized at December 31, 2013 and 2012 of $30,200 and $19,900 are not included in the table above. The impact of such excess tax deductions will be recorded in stockholders’ equity if and when such deferred tax assets are ultimately realized.

With few exceptions, the Company is no longer subject to income tax examination by foreign tax authorities and by U.S. federal, state and local tax authorities for years prior to 2009. While we are under examination in various tax jurisdictions with respect to certain open years, the Company does not expect that the result of any final determination related to these examinations will have a material impact on its financial statements. Developments with respect to such examinations are monitored on an ongoing basis and adjustments to tax liabilities are made as appropriate.

A reconciliation of the beginning to the ending amount of gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2013, 2012 and 2011 is as follows:


	Year Ended December 31,
	2013			2012			2011
Balance, January 1 (excluding interest and penalties of $14,799, $8,454 and $7,099, respectively)	$	55,947		$	62,200		$	58,605
Increases in gross unrecognized tax benefits relating to tax positions taken during:
Prior years		417			1,393			1,081
Current year		17,596			19,690			16,928
Decreases in gross unrecognized tax benefits relating to:
Tax positions taken during prior years		(385	)		(5,397	)		(5,133	)
Settlements with tax authorities		(5,587	)		(12,077	)		–
Lapse of the applicable statute of limitations		(5,083	)		(9,862	)		(9,281	)

Balance, December 31 (excluding interest and penalties of $12,200, $14,799 and $8,454, respectively)	$	62,905		$	55,947		$	62,200

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


	Year Ended December 31,
	2013			2012		2011
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $12,200, $14,799 and $8,454, respectively)	$	36,272		$	44,452	$	44,545
Offset to deferred tax assets for unrecognized tax benefits that, if recognized, would not affect the effective tax rate	$	38,833		$	26,294	$	26,109
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $7,326, $3,130 and $1,785, respectively)	$	(2,599	)	$	6,345	$	1,355

The Company anticipates that it is reasonably possible that approximately $8,600 of unrecognized tax benefits recorded at December 31, 2013 may be recognized within 12 months as a result of the lapse of the statute of limitations in various tax jurisdictions.

Tax Receivable Agreement

The redemption of historical partner interests in connection with the Company’s separation and recapitalization that occurred in May 2005 and the subsequent exchanges through December 31, 2013 of LAZ-MD Holdings exchangeable interests for shares of Class A common stock have resulted, and future exchanges of LAZ-MD Holdings exchangeable interests for shares of Class A common stock may result, in increases in the tax basis of the tangible and/or intangible assets of Lazard Group. Included in our deferred tax assets as of December 31, 2013 are approximately $652,000 related to certain basis step-up assets and approximately $257,000 of net operating losses generated by the amortization of such step-up assets, all of which are subject to the tax receivable agreement dated as of May 10, 2005 with LFCM Holdings. The tax receivable agreement 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 these increases in tax basis. The Company records provisions for payments under the tax receivable agreement to the extent they are probable and estimable. During the years ended December 31, 2013 and 2011, the Company recorded a provision pursuant to tax receivable agreement of $1,249 and $429, respectively, in “operating expenses—other” on the consolidated statements of operations (no provision was required for the year ended December 31, 2012).

Net Income Per Share of Class A Common Stock

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Net Income Per Share of Class A Common Stock

18.

NET INCOME PER SHARE OF CLASS A COMMON STOCK

The Company’s basic and diluted net income per share calculations for the years ended December 31, 2013, 2012 and 2011 are computed as described below.

Basic Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective years, 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 years, 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 years 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 years 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 years ended December 31, 2013, 2012 and 2011 are presented below:


	Year Ended December 31,
	2013		2012		2011
Net income attributable to Lazard Ltd	$	160,212		$84,309		$174,917
Add (deduct) - adjustment associated with Class A common stock issuable on a non-contingent basis		—		7		284

Net income attributable to Lazard Ltd - basic		160,212		84,316		175,201
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, convertible preferred stock and exchangeable interests, net of tax		1,065		371		12,512

Net income attributable to Lazard Ltd - diluted		$161,277		$84,687		$187,713


Weighted average number of shares of Class A common stock outstanding		120,096,305		116,163,821		115,005,676
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		757,962		790,168		3,026,344

Weighted average number of shares of Class A common stock outstanding - basic		120,854,267		116,953,989		118,032,020
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests		12,882,812		12,371,633		19,597,505

Weighted average number of shares of Class A common stock outstanding - diluted		133,737,079		129,325,622		137,629,525

Net income attributable to Lazard Ltd per share of Class A common stock:
Basic		$1.33		$0.72		$1.48

Diluted		$1.21		$0.65		$1.36

Related Parties

12 Months Ended

Dec. 31, 2013

Related Parties

19.

RELATED PARTIES

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


	December 31,
	2013		2012
Receivables
LFCM Holdings	$	7,794	$	20,529
Other		126		3,272

Total	$	7,920	$	23,801

Payables
LFCM Holdings	$	4,300	$	2,943
Other		731		705

Total	$	5,031	$	3,648

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 former and current 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 discussed below.

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

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

The services provided pursuant to the administrative services agreement by Lazard Group to LFCM Holdings, and by LFCM Holdings to Lazard Group, are subject to automatic annual renewal, unless either party gives 180 days’ notice of termination. LFCM Holdings and Lazard Group have a right to terminate the services earlier if there is a change of control of either party or the business alliance provided in the business alliance agreement entered into on May 10, 2005, by and among LAZ-MD Holdings, LFCM Holdings and Lazard Group (described below) expires or is terminated. The party receiving a service may also terminate a service earlier upon 180 days’ notice as long as the receiving party pays the service provider an additional three months of service fee for the terminated service.

The business alliance agreement provides, among other matters, that Lazard Group will refer to LFCM Holdings selected opportunities for underwriting and distribution of securities. In addition, Lazard Group will provide assistance in the execution of any such referred business. In exchange for the referral obligation and assistance, Lazard Group will receive a referral fee from LFCM Holdings equal to approximately one-half of the revenue obtained by LFCM Holdings in respect of any underwriting or distribution opportunity. In addition, LFCM Holdings will refer opportunities in the Financial Advisory and Asset Management businesses to Lazard Group. In exchange for this referral, LFCM Holdings will be entitled to a customary finders’ fee from Lazard Group. The business alliance agreement further provides that, during the term of the business alliance, LFNY and Lazard Asset Management Securities LLC, an indirect wholly-owned subsidiary of LFNY, will introduce execution and settlement transactions to broker-dealer entities affiliated with LFCM Holdings. The business alliance agreement is subject to periodic automatic renewal, unless Lazard Group or LFCM Holdings elects to terminate the agreement in connection with any such renewal or elects to terminate on account of a change of control of the other party. As of December 31, 2013, the date by which either party was required to provide notice of non-renewal had been tolled, and neither party had given notice of non-renewal or termination.

For the years ended December 31, 2013, 2012 and 2011, amounts recorded by Lazard Group relating to the administrative services agreement amounted to $1,456, $7,637 and $10,277, respectively, and net referral fees for underwriting, private placement, M&A and restructuring transactions under the business alliance agreement amounted to $(1,646), $5,947 and $18,862, respectively. Amounts relating to the administrative services agreement are reported as reductions to operating expenses. Net referral fees for underwriting transactions under the business alliance agreement are reported in “revenue-other”. Net referral fees for private placement, M&A and restructuring transactions under the business alliance agreement are reported in advisory fee revenue.

Receivables from LFCM Holdings and its subsidiaries as of December 31, 2013 and 2012 include $3,112 and $14,299, 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 $4,682 and $6,230, respectively, related to referral fees for underwriting and private placement transactions. Payables to LFCM Holdings and its subsidiaries at December 31, 2013 and 2012 include $3,051 and $2,943, respectively, primarily relating to referral fees for Financial Advisory transactions, and, at December 31, 2013, $1,249 related to obligations pursuant to the tax receivable agreement (see Note 17 of Notes to Consolidated Financial Statements).

Other

For the years ended December 31, 2013, 2012 and 2011, amounts recorded by Lazard Group relating to referral fees for restructuring and M&A transactions and fee sharing with MBA Lazard Holdings S.A. and its affiliates (“MBA”), an Argentina-based group in which the Company has a 50% ownership interest, amounted to $(2,221), $1,506 and $1,866, respectively, and are reported in advisory fee revenue.

Other receivables and payables at December 31, 2013 and 2012 primarily relate to referral fees for M&A and restructuring transactions with MBA and at December 31, 2012 a related party loan.

LAZ-MD Holdings

Lazard Group provides certain administrative and support services to LAZ-MD Holdings through the administrative services agreement as discussed above, with such services generally to be provided until December 31, 2014 unless terminated earlier because of a change in control of either party. Lazard Group charges LAZ-MD Holdings for these services based on Lazard Group’s cost allocation methodology and, for the years ended December 31, 2013, 2012 and 2011, such charges amounted to $1,000, $1,000 and $750, respectively.

Lazard Alternative Investments

The business alliance agreement, among other things, granted Lazard Group the option to acquire the North American and European fund management activities of Lazard Alternative Investments Holdings LLC (“LAI”), the subsidiary of LFCM Holdings that owns and operates LFCM Holdings’ alternative investment (including private equity) activities, for an aggregate purchase price of $8,000 and $2,000, respectively. On December 15, 2009, Lazard Group exercised its option to acquire the European fund management activities of LAI for a purchase price of $2,000. Through February 2009, the Company had prepaid $5,500 of the option exercise price related to the North American business of LAI. The remaining option to purchase the North American fund management activities is currently exercisable at any time prior to May 10, 2014, for a purchase price of $2,500.

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

- 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 + Details

Regulatory Authorities

12 Months Ended

Dec. 31, 2013

Banking And Thrift [Abstract]

Regulatory Authorities

20.

REGULATORY AUTHORITIES

LFNY is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Exchange Act. Under the basic method permitted by this rule, the minimum required net capital, as defined, is a specified fixed percentage (6 ²/₃%) of total aggregate indebtedness recorded in LFNY’s Financial and Operational Combined Uniform Single (“FOCUS”) report filed with the Financial Industry Regulatory Authority (“FINRA”), or $100, whichever is greater. At December 31, 2013, LFNY’s regulatory net capital was $110,317, which exceeded the minimum requirement by $106,944.

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 Conduct Authority. At December 31, 2013, the aggregate regulatory net capital of the U.K. Subsidiaries was $77,786, which exceeded the minimum requirement by $63,349.

CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the ACPR for its banking activities conducted through its subsidiary, LFB. The investment services activities of the Paris group, exercised through LFB and other subsidiaries of CFLF, primarily LFG (asset management), also are subject to regulation and supervision by the Autorité des Marchés Financiers. At December 31, 2013, the consolidated regulatory net capital of CFLF was $196,109, which exceeded the minimum requirement set for regulatory capital levels by $162,915. In addition, pursuant to the consolidated supervision rules in the European Union, LFB, in particular, as a French credit institution, is required to be supervised by a regulatory body, either in the U.S. or in the European Union. During the third quarter of 2013, the Company and the ACPR agreed on terms for the consolidated supervision of LFB and certain other non-financial advisory European subsidiaries of the Company (referred to herein, on a combined basis, as the “combined European regulated group”) under such rules. Under this new supervision, the combined European regulated group is required to comply with periodic financial, regulatory net capital and other reporting obligations. Additionally, the combined European regulated group, together with our European financial advisory entities, is required to perform an annual risk assessment and provide certain other information on a periodic basis, including financial reports and information relating to financial performance, balance sheet data and capital structure (which is similar to the information that the Company had already been providing informally). This new supervision under, and provision of information to, the ACPR became effective December 31, 2013.

Certain other U.S. and non-U.S. subsidiaries are subject to various capital adequacy requirements promulgated by various regulatory and exchange authorities in the countries in which they operate. At December 31, 2013, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $113,118, which exceeded the minimum required capital by $78,848.

At December 31, 2013, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

Any new or expanded rules and regulations that may be adopted in countries in which we operate (including regulations that have not yet been proposed) could affect us in other ways.

- 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
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+ Details

Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

21.

SEGMENT INFORMATION

The Company’s reportable segments offer different products and services and are managed separately as different levels and types of expertise are required to effectively manage the segments’ transactions. Each segment is reviewed to determine the allocation of resources and to assess its performance. The Company’s principal operating activities are included in two business segments as described in Note 1 above - Financial Advisory and Asset Management. In addition, as described in Note 1 above, the Company records selected other activities in its Corporate segment.

The Company’s segment information for the years ended December 31, 2013, 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 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.

For the years ended December 31, 2013, 2012 and 2011, no individual client constituted more than 10% of the net revenue of any of the Company’s business segments.

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


		As Of Or For The Year Ended December 31,
		2013(b)			2012(b)			2011
Financial Advisory	Net Revenue	$	980,577		$	1,049,090		$	992,107
	Operating Expenses (a)		959,668			1,057,620			929,688

	Operating Income (Loss)	$	20,909		$	(8,530	)	$	62,419

	Total Assets	$	714,708		$	793,007		$	767,699


Asset Management	Net Revenue	$	1,039,130		$	896,260		$	897,401
	Operating Expenses (a)		704,045			659,502			628,945

	Operating Income	$	335,085		$	236,758		$	268,456

	Total Assets	$	612,018		$	566,677		$	583,524


Corporate	Net Revenue	$	(34,355	)	$	(32,902	)	$	(59,996	)
	Operating Expenses (a)		104,832			71,441			35,380

	Operating Loss	$	(139,187	)	$	(104,343	)	$	(95,376	)

	Total Assets	$	1,684,411		$	1,627,209		$	1,730,713


Total	Net Revenue	$	1,985,352		$	1,912,448		$	1,829,512
	Operating Expenses (a)		1,768,545			1,788,563			1,594,013

	Operating Income	$	216,807		$	123,885		$	235,499

	Total Assets	$	3,011,137		$	2,986,893		$	3,081,936

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


	Year Ended December 31,
	2013		2012		2011
Financial Advisory	$	5,256	$	5,710	$	6,739
Asset Management		2,556		3,250		3,502
Corporate		26,938		21,895		14,339

Total	$	34,750	$	30,855	$	24,580

(b)	See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives announced by the Company in 2013 and 2012, and the impact on each of the Company’s business segments.

Geographic Information

Due to the highly integrated nature of international financial markets, the Company manages its business based on the profitability of the enterprise as a whole. Accordingly, management believes that profitability by geographic region is not necessarily meaningful. The Company’s revenue and identifiable assets are generally allocated based on the country or domicile of the legal entity providing the service.

The following table sets forth the net revenue from, and identifiable assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above.


	As Of Or For The Year Ended December 31,
	2013			2012			2011
Net Revenue:
United States	$	1,217,014		$	1,172,566		$	1,083,457
United Kingdom		205,695			180,784			190,307
France		281,740			265,523			234,441
Other Western Europe		123,975			132,754			174,284
Rest of World		156,928			160,821			147,023

Total	$	1,985,352		$	1,912,448		$	1,829,512

Operating Income (Loss):
United States	$	234,247		$	169,111		$	209,236
United Kingdom		(6,474	)		(37,329	)		(18,074	)
France		14,845			8,332			8,262
Other Western Europe		(8,260	)		(20,812	)		27,276
Rest of World		(17,551	)		4,583			8,799

Total	$	216,807		$	123,885		$	235,499

Identifiable Assets:
United States	$	1,529,695		$	1,507,331		$	1,630,547
United Kingdom		239,606			226,578			253,365
France		824,712			808,655			773,196
Other Western Europe		118,939			114,763			116,682
Rest of World		298,185			329,566			308,146

Total	$	3,011,137		$	2,986,893		$	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
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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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+ Details

Supplemental Financial Information - Quarterly Results

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Supplemental Financial Information - Quarterly Results

SUPPLEMENTAL FINANCIAL INFORMATION

QUARTERLY RESULTS (UNAUDITED)

The following represents the Company’s unaudited quarterly results for the years ended December 31, 2013 and 2012. These quarterly results were prepared in conformity with generally accepted accounting principles and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature.


	2013 Fiscal Quarter
	First(a)		Second(a)		Third		Fourth(b)			Year
	(dollars in thousands, except per share data)
Net revenue	$	401,903	$	490,405	$	480,354	$	612,690		$	1,985,352
Operating expenses		380,306		449,467		399,236		539,536			1,768,545

Operating income	$	21,597	$	40,938	$	81,118	$	73,154		$	216,807

Net income	$	17,649	$	31,921	$	62,748	$	52,796		$	165,114
Less - net income (loss) attributable to noncontrolling interests		2,289		568		2,466		(421	)		4,902

Net income attributable to Lazard Ltd	$	15,360	$	31,353	$	60,282	$	53,217		$	160,212

Attributable to Lazard Ltd Class A common stockholders:
Net income per share of common stock:
Basic		$0.13		$0.26		$0.49		$0.44			$1.33
Diluted		$0.12		$0.24		$0.45		$0.40			$1.21
Dividends declared per share of common stock		—		$0.25		$0.25		$0.50			$1.00

(a)	See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives.

(b)	See Note 11 of Notes to Consolidated Financial Statements for information regarding the debt refinancing.



	2012 Fiscal Quarter
	First		Second		Third		Fourth(a)			Year
	(dollars in thousands, except per share data)
Net revenue	$	486,039	$	436,910	$	428,806	$	560,693		$	1,912,448
Operating expenses		448,216		392,377		382,080		565,890			1,788,563

Operating income (loss)	$	37,823	$	44,533	$	46,726	$	(5,197	)	$	123,885

Net income (loss)	$	29,056	$	34,162	$	33,673	$	(4,106	)	$	92,785
Less - net income attributable to noncontrolling interests		3,504		3,341		372		1,259			8,476

Net income (loss) attributable to Lazard Ltd	$	25,552	$	30,821	$	33,301	$	(5,365	)	$	84,309

Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$0.21		$0.26		$0.29		$(0.05	)		$0.72
Diluted		$0.20		$0.24		$0.26		$(0.05	)		$0.65
Dividends declared per share of common stock		$0.16		$0.20		$0.20		$ 0.60			$1.16

(a)	See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives announced in the fourth quarter of 2012.

Schedule I-Condensed Financial Information of Registrant (Parent Company Only)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule I-Condensed Financial Information of Registrant (Parent Company Only)

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF FINANCIAL CONDITION

DECEMBER 31, 2013 AND 2012

(dollars in thousands, except per share data)


	December 31,
	2013			2012
ASSETS
Cash and cash equivalents	$	688		$	298
Investments in subsidiaries, equity method		(1,818,211	)		(1,852,072	)
Due from subsidiaries		2,379,308			2,421,780
Other assets		4			–

Total assets	$	561,789		$	570,006


LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Due to subsidiaries	$	1,488		$	254
Other liabilities		92			96

Total liabilities		1,580			350

Commitments and contingencies

STOCKHOLDERS’ EQUITY
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Series A—7,921 shares issued and outstanding at December 31, 2013 and 2012		–			–
Series B—no shares issued and outstanding		–			–
Common stock:
Class A, par value $.01 per share (500,000,000 shares authorized; 129,056,081 and 128,216,423 shares issued at December 31, 2013 and 2012, respectively, including shares held by subsidiaries as indicated below)		1,291			1,282
Class B, par value $.01 per share (1 share authorized, issued and outstanding at December 31, 2013 and 2012)		–			–
Additional paid-in-capital		737,899			846,050
Retained earnings		203,236			182,647
Accumulated other comprehensive loss, net of tax		(133,004	)		(110,541	)

		809,422			919,438
Class A common stock held by subsidiaries, at cost (8,317,065 and 12,802,938 shares at December 31, 2013 and 2012, respectively)		(249,213	)		(349,782	)

Total stockholders’ equity		560,209			569,656

Total liabilities and stockholders’ equity	$	561,789		$	570,006

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011

(dollars in thousands)


	Year Ended December 31,
	2013		2012		2011
REVENUE
Equity in earnings of subsidiaries	$	103,769	$	20,598	$	109,294
Interest and other income		58,227		65,319		67,042

Total revenue		161,996		85,917		176,336

OPERATING EXPENSES
Professional services		1,662		1,477		1,276
Other		122		131		143

Total operating expenses		1,784		1,608		1,419

NET INCOME	$	160,212	$	84,309	$	174,917

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011

(dollars in thousands)


	Year Ended December 31,
	2013			2012			2011
NET INCOME	$	160,212		$	84,309		$	174,917

OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments		(15,438	)		15,431			(8,760	)
Amortization of interest rate hedge		2,488			1,042			1,000
Employee benefit plans:
Actuarial loss (net of tax benefit of $6,353, $12,796 and $11,874 for the years ended December 31, 2013, 2012 and 2011, respectively)		(13,426	)		(39,817	)		(36,256	)
Adjustments for items reclassified to earnings (net of tax expense of $1,918, $1,131 and $977 for the years ended December 31, 2013, 2012 and 2011, respectively)		4,580			4,347			2,091

OTHER COMPREHENSIVE LOSS, NET OF TAX		(21,796	)		(18,997	)		(41,925	)

COMPREHENSIVE INCOME	$	138,416		$	65,312		$	132,992

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011

(dollars in thousands)


	Year Ended December 31,
	2013			2012			2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	160,212		$	84,309		$	174,917
Adjustments to reconcile net income to net cash provided by operating activities:
Noncash items included in net income:
Equity in earnings of subsidiaries		(103,769	)		(20,598	)		(109,294	)
Changes in due to/from subsidiaries		65,574			71,566			4,945
Changes in other operating assets and liabilities		(7)			(89	)		12

Net cash provided by operating activities		122,010			135,188			70,580

CASH FLOWS FROM FINANCING ACTIVITIES:
Class A common stock dividends		(121,620	)		(135,108	)		(70,572	)

Net cash used in financing activities		(121,620	)		(135,108	)		(70,572	)

Net increase in cash and cash equivalents		390			80			8
Cash and cash equivalents, January 1		298			218			210

Cash and cash equivalents, December 31	$	688		$	298		$	218

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

See notes to condensed financial statements.

LAZARD LTD

(parent company only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1.	*BASIS OF PRESENTATION*

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

The Parent Company Financial Statements as of December 31, 2013 and 2012, and for each of the three years in the period ended December 31, 2013, are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and the disclosures in the condensed financial statements. Management believes that the estimates utilized in the preparation of the condensed financial statements are reasonable. Actual results could differ materially from these estimates.

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

Organization and Basis of Presentation (Policies)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Organization

Organization

•

Basis of Presentation

Basis of Presentation

Foreign Currency Translation

Use of Estimates

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

•

the adequacy of the allowance for doubtful accounts;

•

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

•

the outcome of litigation;

•

the carrying amount of goodwill and other intangible assets;

•

the amortization period of intangible assets;

•

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

•

the vesting of share-based and other deferred compensation plan awards, and

•

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

Cash and Cash Equivalents

Cash and Cash Equivalents—The Company defines cash equivalents as short-term, highly liquid securities and cash deposits with original maturities of 90 days or less when purchased.

Deposits with Banks

Cash Deposited with Clearing Organizations and Other Segregated Cash

Allowance for Doubtful Accounts

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

Investments

Investments in debt and marketable equity securities held at the Companyâ€™s non broker-dealer subsidiaries are considered â€œtradingâ€ securities and are accounted for at fair value, with any increase or decrease in fair value reflected in â€œrevenue-otherâ€ in the consolidated statements of operations.

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

Property-net

Goodwill and Other Intangible Assets

See Note 9 of Notes to Consolidated Financial Statements with respect to goodwill and other intangible assets.

Derivative Instruments

In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests awards (“Lazard Fund Interests”) and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments, as 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 and other similar deferred compensation arrangements, which are reported in “revenue-other” in the consolidated statements of operations. For information regarding Lazard Fund Interests and other similar deferred compensation arrangements, see Notes 5, 7 and 14 of Notes to Consolidated Financial Statements.

Deposits and Other Customer Payables

Securities Sold, Not Yet Purchased

Fair Value of Financial Assets and Liabilities

Revenue Recognition

Revenue Recognition

The Company earns performance-based incentive fees on various investment products, including traditional products and alternative investment funds such as hedge funds and private equity funds.

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

Soft Dollar Arrangements

Equity-Based Incentive Compensation Awards

Costs-Saving Initiatives and Staff Reductions

Costs-Saving Initiatives and Staff Reductions-Charges associated with management-approved cost-saving plans or staff reductions can include severance costs, charges to vacate facilities and contract cancellation costs. Severance costs are generally accrued on the date that employees are notified of their benefits and other costs are generally accrued as the Company ceases to use facilities or cancels contracts. The Company records severance-related liabilities in â€œaccrued compensation and benefitsâ€ and other types of liabilities in â€œother liabilitiesâ€ in the consolidated statements of financial condition.

Income Taxes

•

future reversals of existing taxable temporary differences;

•

future taxable income exclusive of reversing temporary differences and carryforwards;

•

taxable income in prior carryback years; and

•

tax-planning strategies.

The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available positive and negative evidence, including, but not limited to, the following:

•

nature, frequency, and magnitude of any recent losses and current operating results;

•

duration of statutory carryforward periods;

•

historical experience with tax attributes expiring unused; and

•

near-term and medium-term financial outlook.

Recent Accounting Developments

Presentation of Unrecognized Tax Benefits—In July 2013, the FASB issued guidance on the presentation of unrecognized tax benefits when net operating losses or tax credit carryforwards exist. The guidance requires that the unrecognized tax benefit, or a portion of such unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except in certain situations, as defined in the guidance. The new presentation requirements are effective prospectively for interim and annual reporting periods beginning after December 15, 2013, with early adoption permitted. The Company elected to early adopt this guidance in the fourth quarter of 2013, the impact of which of did not have a material impact on the Company’s consolidated financial statements.

Receivables (Tables)

12 Months Ended

Dec. 31, 2013

Receivables [Abstract]

Schedule of Activity in Allowance for Doubtful Accounts

Activity in the allowance for doubtful accounts for the years ended December 31, 2013, 2012 and 2011 was as follows:


	Year Ended December 31,
	2013		2012			2011
Balance, January 1	$	23,017	$	19,450		$	15,017
Bad debt expense		4,395		6,579			7,952
Charge-offs, foreign currency translation and other adjustments		1,365		(3,012	)		(3,519	)

Balance, December 31	$	28,777	$	23,017		$	19,450

Investments (Tables)

12 Months Ended

Dec. 31, 2013

Investments Schedule [Abstract]

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at December 31, 2013 and 2012:


	December 31,
	2013		2012
Debt (including interest-bearing deposits of $516 and $578, respectively)	$	8,529	$	5,948

Equities		59,394		44,992

Funds:
Alternative investments (a)		37,030		57,890
Debt (a)		58,769		32,077
Equity (a)		190,702		154,310
Private equity		114,193		112,444

		400,694		356,721

Equity method		9,488		7,012

Total investments		478,105		414,673
Less:
Interest-bearing deposits		516		578
Equity method		9,488		7,012

Investments, at fair value	$	468,101	$	407,083

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,045	$	2,755

(a)

Schedule of Trading Securities Gross Unrealized Investment Gains and Losses


	Year Ended December 31,
	2013		2012		2011
Gross unrealized investment gains	$	19,465	$	23,024	$	2,180
Gross unrealized investment losses	$	2,995	$	697	$	12,844

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis



	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,681	$	6,332	$	–	$	8,013
Equities		58,054		–		1,340		59,394
Funds:
Alternative investments		–		37,030		–		37,030
Debt		58,765		4		–		58,769
Equity		190,660		42		–		190,702
Private equity		–		–		114,193		114,193
Derivatives		–		682		–		682

Total	$	309,160	$	44,090	$	115,533	$	468,783

Liabilities:
Securities sold, not yet purchased	$	4,045	$	–	$	–	$	4,045
Derivatives		–		164,001		–		164,001

Total	$	4,045	$	164,001	$	–	$	168,046



	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,443	$	3,927	$	–	$	5,370
Equities		44,802		–		190		44,992
Funds:
Alternative investments		–		54,433		3,457		57,890
Debt		32,073		4		–		32,077
Equity		145,231		9,069		10		154,310
Private equity		–		–		112,444		112,444
Derivatives		–		933		–		933

Total	$	223,549	$	68,366	$	116,101	$	408,016

Liabilities:
Securities sold, not yet purchased	$	2,696	$	59	$	–	$	2,755
Derivatives		–		102,492		–		102,492

Total	$	2,696	$	102,551	$	–	$	105,247

Summary of Changes in Fair Value of 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 years ended December 31, 2013, 2012 and 2011:


	Year Ended December 31, 2013
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments		Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Disposition			Foreign Currency Translation Adjustments		Ending Balance
Investments:
Equities	$	190	$	11	$	1,095	$	–		$	44	$	1,340
Alternative investment funds		3,457		117		–		(3,574	)		–		–
Equity funds		10		–		–		(10	)		–		–
Private equity funds		112,444		13,245		6,166		(19,231	)		1,569		114,193

Total Level 3 Assets	$	116,101	$	13,373	$	7,261	$	(22,815	)	$	1,613	$	115,533


	Year Ended December 31, 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	$	211	$	5		$	–	$	(30	)	$	4		$	190
Alternative investment funds		10,171		130			–		(6,844	)		–			3,457
Equity funds		–		–			10		–			–			10
Private equity funds		122,718		15,983			8,589		(35,796	)		950			112,444

Total Level 3 Assets	$	133,100	$	16,118		$	8,599	$	(42,670	)	$	954		$	116,101


	Year Ended December 31, 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	$	72		$	25	$	(195	)	$	(7	)	$	211
Alternative investment funds		–		(169	)		10,340		–			–			10,171
Private equity funds		163,482		(3,319	)		33,117		(69,218	)(b)		(1,344	)		122,718

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

(a)	Earnings for the years ended December 31, 2013, 2012 and 2011 include net unrealized gains (losses) of $6,032, $12,910 and $(3,268), respectively.

(b)	Sales/dispositions of private equity fund investments for the year ended December 31, 2011 include $49,500 in connection with a reduction of interests in a fund which ceased to be consolidated by the Company.

Financial Instruments Not Measured at Fair Value


	December 31, 2013
					Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	841,482	$	841,482		$841,482		$–		$–
Deposits with banks		244,879		244,879		244,879		–		–
Cash deposited with clearing organizations and other segregated cash		62,046		62,046		62,046		–		–
Interest-bearing financing receivables		69,464		71,433		–		–		71,433
Interest-bearing deposits (included within investments)		516		516		516		–		–

Financial Liabilities:
Deposits and other customer payables	$	275,434	$	275,434		$275,434	$	–	$	–
Senior debt		1,048,350		1,117,247		–		1,117,247		–


	December 31, 2012
					Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	850,190	$	850,190	$	850,190	$	–	$	–
Deposits with banks		292,494		292,494		292,494		–		–
Cash deposited with clearing organizations and other segregated cash		65,232		65,232		65,232		–		–
Interest-bearing financing receivables		76,481		78,493		–		–		78,493
Interest-bearing deposits (included within investments)		578		578		578		–		–

Financial Liabilities:
Deposits and other customer payables	$	269,763	$	269,763	$	269,763	$	–	$	–
Senior debt		1,076,850		1,207,227		–		1,207,227		–

Fair Value of Certain Investments Based on NAV

December 31, 2013

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds:

Hedge funds

31,837

–

(a)

<30-90 days

Funds of funds

475

–

(b)

<30-90 days

Other

4,718

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

–

(e)

30-90 days

Private equity funds:

Equity growth

70,054

27,135

100%

17%

60%

23%

Mezzanine debt

44,139

–

100%

–%

100%

Total

151,269

27,135

(a)	weekly (17%), monthly (65%) and quarterly (18%)

(b)	monthly (95%) and quarterly (5%)

(c)	daily (7%), weekly (1%) and monthly (92%)

(d)	daily (100%)

(e)	daily (13%), monthly (58%) and quarterly (29%)

December 31, 2012

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds:

Hedge funds

25,110

–

(a)

<30-90 days

Funds of funds

23,252

–

(b)

<30-120 days

Other

9,528

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

9,079

–

–%

(e)

30-120 days

Private equity funds:

Equity growth

71,068

31,482

100%

21%

61%

18%

Mezzanine debt

41,376

–

100%

–

100%

Total

179,417

31,482

Redemption frequency as follows:

(a)	weekly (20%), monthly (73%) and quarterly (7%)

(b)	monthly (2%) and quarterly (98%)

(c)	daily (60%), weekly (1%) and monthly (39%)

(d)	daily (100%)

(e)	daily (37%) and monthly (61%)

Derivatives (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Value of Derivatives Reported on Consolidated Statements of Financial Condition


	December 31,
	2013		2012
Derivative Assets:
Forward foreign currency exchange rate contracts	$	250	$	893
Equity and fixed income swaps and other (a)		432		40

	$	682	$	933

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,579	$	322
Interest rate swaps		–		235
Equity and fixed income swaps (a)		–		4,342
Lazard Fund Interests and other similar deferred compensation arrangements		162,422		97,593

	$	164,001	$	102,492

(a)

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


	Year Ended December 31,
	2013			2012			2011
Forward foreign currency exchange rate contracts	$	(3,162	)	$	(1,844	)	$	2,422
Lazard Fund Interests and other similar deferred compensation arrangements		(14,099	)		(7,557	)		3,024
Equity and fixed income swaps and other		(10,931	)		(18,327	)		4,276

	$	(28,192	)	$	(27,728	)	$	9,722

Property (Tables)

12 Months Ended

Dec. 31, 2013

Property Plant And Equipment [Abstract]

Property

At December 31, 2013 and 2012, property consists of the following:


	Estimated Depreciable Life in Years		December 31,
	Estimated Depreciable Life in Years		2013		2012
Buildings		33	$	173,772	$	166,560
Leasehold improvements		3-20		175,600		143,408
Furniture and equipment		3-10		149,598		122,125
Construction in progress				3,756		18,801

Total				502,726		450,894
Less - Accumulated depreciation and amortization				253,930		225,861

Property			$	248,796	$	225,033

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at December 31, 2013 and 2012 are presented below:


	December 31,
	2013		2012
Goodwill	$	345,453	$	364,328
Other intangible assets (net of accumulated amortization)		18,424		28,494

	$	363,877	$	392,822

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2013, 2012 and 2011 are as follows:


	Year Ended December 31,
	2013			2012		2011
Balance, January 1	$	364,328		$	356,657	$	313,229
Business acquisitions, including, in the 2011 period, additional contingent consideration earned relating to a prior year business acquisition		1,748			4,272		42,566
Foreign currency translation adjustments		(20,623	)		3,399		862

Balance, December 31	$	345,453		$	364,328	$	356,657

Gross Cost and Accumulated Amortization of Other Intangible Assets

The gross cost and accumulated amortization of other intangible assets as of December 31, 2013 and 2012, by major intangible asset category, are as follows:


	December 31, 2013						December 31, 2012
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	17,173	$	13,567	$	30,740	$	10,678	$	20,062
Management fees, customer relationships and non-compete agreements		33,063		28,206		4,857		33,035		24,603		8,432

	$	63,803	$	45,379	$	18,424	$	63,775	$	35,281	$	28,494

Estimated Future Amortization Expense

Amortization expense of intangible assets for the years ended December 31, 2013, 2012 and 2011 was $10,114, $8,359 and $11,915, respectively. Estimated future amortization expense is as follows:


Year Ending December 31,	Amortization Expense (a)
2014	$	6,810
2015		6,433
2016		5,181

Total amortization expense	$	18,424

(a)

Approximately 43% of intangible asset amortization is attributable to a noncontrolling interest.

Other Assets and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Schedule of Other Assets

The following table sets forth the Company’s other assets, by type, as of December 31, 2013 and 2012:


	December 31,
	2013		2012
Current tax receivables and deferred tax assets (net of valuation allowance) and other taxes	$	110,014	$	137,394
Prepaid compensation (see Note 14)		60,433		47,445
Other advances and prepayments		33,526		33,401
Deferred debt issuance costs		9,188		4,902
Other		46,116		45,264

Total	$	259,277	$	268,406

Schedule of Other Liabilities

The following table sets forth the Company’s other liabilities, by type, as of December 31, 2013 and 2012:


	December 31,
	2013		2012
Accrued expenses	$	136,677	$	147,194
Current and deferred income taxes and other taxes		119,940		121,854
Employee benefit-related liabilities		104,013		83,629
Deferred lease incentives		84,897		74,880
Unclaimed funds at LFB		26,626		28,716
Abandoned leased space (principally in the U.K.)		12,855		8,475
Securities sold, not yet purchased		4,045		2,755
Other		24,374		32,148

Total	$	513,427	$	499,651

Senior and Subordinated Debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Senior Debt

Senior Debt—Senior debt is comprised of the following as of December 31, 2013 and 2012:


	Initial Principal Amount		Maturity Date		Annual Interest Rate			Outstanding As Of December 31,
	Initial Principal Amount		Maturity Date		Annual Interest Rate			2013		2012
Lazard Group 7.125% Senior Notes (a)	$	550,000		5/15/15		7.125	%	$	–	$	528,500
Lazard Group 6.85% Senior Notes		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group 4.25% Senior Notes (b)		500,000		11/14/20		4.25	%		500,000		–
Lazard Group Credit Facility		150,000		9/25/15		0.79	%		–		–

Total								$	1,048,350	$	1,076,850

(a)

(b)

Debt Maturities Relating to Senior Borrowings Outstanding

Debt maturities relating to senior borrowings outstanding at December 31, 2013 for each of the five years in the period ending December 31, 2018 and thereafter are set forth in the table below.


Year Ending December 31,
2014-2016	$	–
2017		548,350
2018		–
Thereafter		500,000

Total	$	1,048,350

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments And Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payment for Operating Leases and Capital Leases

At December 31, 2013, minimum rental commitments under non-cancelable leases, net of sublease income, are approximately as follows:


Year Ending December 31,	Minimum Rental Commitments
Year Ending December 31,	Capital		Operating
2014	$	3,221	$	81,467
2015		2,895		77,427
2016		2,579		74,420
2017		9,478		69,530
2018		–		65,232
Thereafter		–		650,050

Total minimum lease payments		18,173		1,018,126
Less amount representing interest		2,339

Present value of capital lease commitments	$	15,834

Less sublease proceeds				155,547

Net lease payments			$	862,579

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Lazard Group Distributed Amounts to LAZ-MD Holdings and Subsidiaries of Lazard Ltd

During the years ended December 31, 2013, 2012 and 2011, Lazard Group distributed the following amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd:


	Year Ended December 31,
	2013		2012		2011
Tax distributions:
LAZ-MD Holdings	$	80	$	–	$	699
Subsidiaries of Lazard Ltd		2,896		–		16,800

	$	2,976	$	–	$	17,499

Other distributions:
LAZ-MD Holdings	$	920	$	5,170	$	4,383
Subsidiaries of Lazard Ltd		121,620		135,108		70,572

	$	122,540	$	140,278	$	74,955

Schedule of Share Repurchase Authorized by Board of Directors


Date	Share Repurchase Authorization		Expiration
February, 2011	$	250,000		December 31, 2012
October, 2011	$	125,000		December 31, 2013
April, 2012	$	125,000		December 31, 2013
October, 2012	$	200,000		December 31, 2014
October, 2013	$	100,000		December 31, 2015

Schedule of Share Repurchase Program

Number of Shares/Common Membership Interests Purchased		Average Price Per Share/Common Membership Interest
Years Ending December 31:

2011	6,135,189		$	33.39
2012	12,817,196		$	27.66
2013	3,488,101		$	37.98

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss), Net of Tax—The table below reflects the components of AOCI at December 31, 2013 and activity during the year then ended:


	Currency Translation Adjustments			Interest Rate Hedge			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2013	$	19,405		$	(2,502	)	$	(128,536	)	$	(111,633	)	$	(1,092	)	$	(110,541	)

Activity January 1 to December 31, 2013:
Other comprehensive gain (loss) before reclassifications		(15,536	)		–			(13,500	)		(29,036	)		495			(29,531	)
Adjustments for items reclassified to earnings, net of tax		–			2,502			4,605			7,107			39			7,068

Net other comprehensive income (loss)		(15,536	)		2,502			(8,895	)		(21,929	)		534			(22,463	)

Balance, December 31, 2013	$	3,869		$	–		$	(137,431	)	$	(133,562	)	$	(558	)	$	(133,004	)

Gains (Losses) Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the year ended December 31, 2013:


Amortization of interest rate hedge	$	2,502	(a)

Amortization relating to employee benefit plans		6,534	(b)
Less – related income taxes		1,929

Net of tax		4,605

Total reclassifications, net of tax	$	7,107

(a)	Included in “interest expense” and “operating expenses—other” in the amounts of $939 and $1,563, respectively, on the consolidated statements of operations.

(b)	Included in the computation of net periodic benefit cost (see Note 15 of Notes to Consolidated Financial Statements). Such amount is included in “compensation and benefits” expense on the consolidated statement of operations.

Changes in Ownership Interests

The following tables summarize the ownership interests in Lazard Group held by Lazard Ltd and LAZ-MD Holdings:


	Lazard Ltd					LAZ-MD Holdings					Total Lazard Group Common Membership Interests
As of December 31:	Common Membership Interests		% Ownership			Common Membership Interests		% Ownership			Total Lazard Group Common Membership Interests
2011		123,009,311		94.8	%		6,756,779		5.2	%		129,766,090
2012		128,216,423		98.8	%		1,549,667		1.2	%		129,766,090
2013		129,056,081		99.5	%		710,009		0.5	%		129,766,090

Net Income Attributable to Noncontrolling Interests


	Net Income (Loss) Attributable to Noncontrolling Interests Year Ended December 31,
	2013			2012			2011
Edgewater	$	3,913		$	3,491		$	4,130
LAZ-MD Holdings		1,198			5,114			11,964
Other		(209	)		(129	)		(452	)

Total	$	4,902		$	8,476		$	15,642


	Noncontrolling Interests As Of December 31,
	2013		2012
Edgewater	$	66,641	$	75,262
LAZ-MD Holdings		2,566		5,405
Other		582		1,217

Total	$	69,789	$	81,884

Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense


	Year Ended December 31,
	2013		2012		2011
Share-based incentive awards:
RSUs (a)	$	209,974	$	298,809	$	264,110
PRSUs		12,934		–		–
Restricted Stock (b)		11,374		10,003		9,767
DSUs		1,616		1,536		1,265

Total	$	235,898	$	310,348	$	275,142

(a)	Includes charges relating to the cost saving initiatives and staff reductions, as applicable, for the years ended December 31, 2013 and 2012, aggregating $9,099 and $26,158, respectively (see Note 16 of Notes to Consolidated Financial Statements).

(b)	Includes charges relating to the cost saving initiatives for the years ended December 31, 2013 and 2012, of $247 and $713, respectively.

Schedule of Issuance of RSUs and Charges to Retained Earnings

During the years ended December 31, 2013, 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:


	Year Ended December 31,
	2013		2012		2011
Number of RSUs issued		442,242		920,791		389,846
Charges to retained earnings, net of estimated forfeitures	$	16,476	$	24,990	$	11,120

Schedule of Activity Relating to RSUs and DSUs

The following is a summary of activity relating to RSUs and DSUs during the three-year period ended December 31, 2013:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2011		22,108,635		$	35.67		121,737		$	34.46
Granted (including 389,846 RSUs relating to dividend participation)		7,002,736		$	43.21		35,043		$	36.09
Forfeited		(305,155	)	$	37.83		–			–
Vested		(8,054,387	)	$	39.13		(16,120	)	$	34.76

Balance, December 31, 2011		20,751,829		$	36.84		140,660		$	34.83
Granted (including 920,791 RSUs relating to dividend participation)		8,594,744		$	27.68		63,836		$	24.06
Forfeited		(581,411	)	$	35.59		–			–
Vested/Exchanged		(7,284,031	)	$	34.71		–			–

Balance, December 31, 2012		21,481,131		$	33.92		204,496		$	31.47
Granted (including 442,242 RSUs relating to dividend participation)		5,174,810		$	37.21		46,938		$	34.42
Forfeited		(268,900)		$	34.47		–			–
Vested		(9,768,849)		$	34.65		–			–

Balance, December 31, 2013		16,618,192		$	34.51		251,434		$	32.02

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 three-year period ended December 31, 2013:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2011		95,332		$	37.63
Granted		327,238		$	43.70
Vested		(327,238	)	$	43.70

Balance, December 31, 2011		95,332		$	37.63
Granted/Exchanged (a)		2,100,965		$	34.34
Forfeited		(21,178	)	$	29.51
Vested		(202,510	)	$	31.43

Balance, December 31, 2012		1,972,609		$	34.85
Granted		368,736		$	36.74
Forfeited		(37,782	)	$	33.37
Vested		(1,728,509	)	$	36.00

Balance, December 31, 2013		575,054		$	32.72

(a)

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 years ended December 31, 2013 and 2012:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2013	$	47,445		$	97,593
Granted		72,217			72,217
Settled		–			(24,006	)
Forfeited		(1,075	)		(1,544	)
Amortization		(58,023	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			14,099
Adjustment for estimated forfeitures		–			4,643
Other		(131	)		(580	)

Balance, December 31, 2013	$	60,433		$	162,422


	Prepaid Compensation			Compensation Liability
Balance, January 1, 2012	$	17,783		$	29,900
Granted		64,679			64,679
Settled		–			(10,646	)
Forfeited		(1,603	)		(1,711	)
Amortization		(33,476	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			7,557
Adjustment for estimated forfeitures		–			7,841
Other		62			(27)

Balance, December 31, 2012	$	47,445		$	97,593

Summary of Impact of Fund Interests and Other Similar Deferred Compensation Arrangements


	Year Ended December 31,
	2013		2012		2011
Amortization, net of forfeitures (a)	$	62,197	$	41,209	$	14,551
Change in the fair value of underlying investments		14,099		7,557		(3,024	)

Total	$	76,296	$	48,766	$	11,527

(a)	Includes charges relating to the cost saving initiatives for the years ended December 31, 2013 and 2012, of $2,665 and $3,495, respectively.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Compensation And Retirement Disclosure [Abstract]

Summary of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition


	Pension Plans						Medical Plan
	2013			2012			2013			2012
Change in benefit obligation
Benefit obligation at beginning of year	$	656,025		$	575,031		$	5,668		$	5,362
Service cost		940			670			53			60
Interest cost		27,219			27,636			182			211
Actuarial (gain) loss		32,329			57,057			(647	)		310
Benefits paid		(23,258	)		(26,420	)		(176	)		(275	)
Foreign currency translation and other adjustments		16,595			22,051

Benefit obligation at end of year		709,850			656,025			5,080			5,668

Change in plan assets
Fair value of plan assets at beginning of year		607,705			568,911
Actual return on plan assets		41,353			33,882
Employer contributions		2,274			8,221			176			275
Benefits paid		(23,258	)		(26,420	)		(176	)		(275	)
Foreign currency translation and other adjustments		15,770			23,111

Fair value of plan assets at end of year		643,844			607,705			–			–

Funded (deficit) at end of year	$	(66,006	)	$	(48,320	)	$	(5,080	)	$	(5,668	)

Amounts recognized in the consolidated statements of financial condition at December 31, 2013 and 2012 consist of:
Prepaid pension asset (included in “other assets”)	$	148		$	2,659
Accrued benefit liability (included in “other liabilities”)		(66,154	)		(50,979	)	$	(5,080	)	$	(5,668	)

Net amount recognized	$	(66,006	)	$	(48,320	)	$	(5,080	)	$	(5,668	)

Amounts recognized in AOCI (excluding tax benefits of $30,448 and $25,989 at December 31, 2013 and 2012, respectively) consist of:
Actuarial net loss (gain)	$	159,575		$	143,133		$	(597	)	$	50
Prior service cost		8,901			11,342			–			–

Net amount recognized	$	168,476		$	154,475		$	(597	)	$	50

Summary of Fair Value of Plan Assets, Accumulated Benefit Obligation and Projected Benefit Obligation

The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2013 and 2012:


	U.S. Pension Plans As Of December 31,				Non-U.S. Pension Plans As Of December 31,				Total As Of December 31,
	2013		2012		2013		2012		2013		2012
Fair value of plan assets	$	26,200	$	25,231	$	617,644	$	582,474	$	643,844	$	607,705
Accumulated benefit obligation	$	29,427	$	35,276	$	680,423	$	620,749	$	709,850	$	656,025
Projected benefit obligation	$	29,427	$	35,276	$	680,423	$	620,749	$	709,850	$	656,025

Components of Net Benefit Cost


	Pension Plans For The Years Ended December 31,									Medical Plan For The Years Ended December 31,
	2013			2012			2011			2013			2012		2011
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	940		$	670		$	651		$	53		$	60	$	69
Interest cost		27,219			27,636			28,266			182			211		278
Expected return on plan assets		(27,078	)		(26,657	)		(30,490	)
Amortization of:
Prior service cost		2,843			2,751			2,979
Net actuarial loss		3,691			1,658			258
Settlement loss (a)		–			1,135

Net periodic benefit cost	$	7,615		$	7,193		$	1,664		$	235		$	271	$	347


Actual return on plan assets	$	41,353		$	33,882		$	29,870		$
Employer contributions	$	2,274		$	8,221		$	8,689		$	176		$	275	$	347
Benefits paid	$	23,258		$	26,420		$	21,718		$	176		$	275	$	347
Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax benefit of $4,459, $11,805 and $11,495 during the years ended December 31, 2013, 2012 and 2011, respectively):
Net actuarial (gain) loss	$	17,251		$	50,209		$	51,703		$	(647	)	$	310	$	(438	)
Reclassification of prior service (cost) credit to earnings		(2,843	)		(2,751	)		(2,979	)
Reclassification of actuarial loss to earnings		(3,691	)		(2,793	)		(258	)
Currency translation and other adjustments		3,284			2,729			(491	)

Total recognized in AOCI	$	14,001		$	47,394		$	47,975		$	(647	)	$	310	$	(438	)

Net amount recognized in total periodic benefit cost and AOCI	$	21,616		$	54,587		$	49,639		$	(412	)	$	581	$	(91	)

(a)

Schedule of Amounts in AOCI on Consolidated Statement of Financial Condition Expected to be Recognized


	Pension Plans		Medical Plan			Total
Prior service cost	$	2,954	$	–		$	2,954
Net actuarial loss (gain)	$	4,451	$	(90	)	$	4,361

Schedule of Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation and Net Periodic Pension Cost


	Pension Plans December 31,								Medical Plan December 31,
	2013		2012			2011			2013		2012		2011
Weighted average assumptions used to determine benefit obligations:
Discount rate		4.3%		4.6	%		4.8	%		4.3%		3.4%		4.1%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		3.3%		3.2	%		4.7	%		3.4%		4.1%		5.0%
Expected long-term rate of return on plan assets		4.7%		4.7	%		5.4	%		–		–		–
Healthcare cost trend rates used to determine net periodic benefit cost:
Initial										8.0%		8.0%		8.0%
Ultimate										5.0%		6.0%		6.0%
Year ultimate trend rate achieved										2019		2016		2015

Schedule of Effect of Assumed Cost of Healthcare Reported for Company's Post Retirement Plans


	1% Increase				1% Decrease
	2013		2012		2013			2012
Cost	$	33	$	44	$	(24	)	$	(31	)
Obligation	$	675	$	880	$	(494	)	$	(610	)

Schedule of Expected Benefit Payments


	Pension Plans		Medical Plan
2014	$	23,736	$	397
2015		25,095		398
2016		26,473		395
2017		26,721		392
2018		28,761		391
2019-2023		163,107		1,894

Schedule of Categorization of Plans' Assets



	As of December 31, 2013
	Level 1		Level 2		Level 3		Total
Asset Category
Cash	$	5,835	$	–	$	–	$	5,835
Debt		43,764		–		–		43,764
Equities		27,762		–		–		27,762
Funds:
Alternative investments		907		43,123		698		44,728
Debt		11,942		323,812		2,222		337,976
Equity		183,779		–		–		183,779

Total	$	273,989	$	366,935	$	2,920	$	643,844


	As of December 31, 2012
	Level 1		Level 2		Level 3		Total
Asset Category
Cash	$	10,714	$	–	$	–	$	10,714
Debt		47,298		–		–		47,298
Equities		29,337		–		–		29,337
Funds:
Alternative investments		–		39,930		404		40,334
Debt		12,430		307,695		2,024		322,149
Equity		157,873		–		–		157,873

Total	$	257,652	$	347,625	$	2,428	$	607,705

Cost Saving Initiatives (Tables)

12 Months Ended

Dec. 31, 2013

Restructuring And Related Activities [Abstract]

Schedule of Expenses and Cumulative Expenses Associated With Implementation of Cost Savings Initiatives


	Financial Advisory		Asset Management			Corporate		Total
Year Ended December 31, 2013:
Compensation and benefits	$	45,746	$	236		$	5,417	$	51,399
Other		2,033		(1	)		11,272		13,304

Total	$	47,779	$	235		$	16,689	$	64,703


	Financial Advisory		Asset Management			Corporate		Total
Cumulative October 2012 Through December 31, 2013:
Compensation and benefits	$	121,879	$	12,292		$	17,215	$	151,386
Other		3,432		732			11,729		15,893

Total	$	125,311	$	13,024		$	28,944	$	167,279

Activity related to the obligations pursuant to the Cost Saving Initiatives during 2013 was as follows:


	Accrued Compensation and Benefits			Other Liabilities			Total
Balance, January 1, 2013	$	46,128		$	1,714		$	47,842
New charges		51,399			13,304			64,703
Less:
Non-cash charges		(12,007	)		(3,387	)		(15,394	)
Settlements		(73,660	)		(6,275	)		(79,935	)

Balance, December 31, 2013	$	11,860		$	5,356		$	17,216

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes


	Year Ended December 31,
	2013			2012			2011
Current:
Federal	$	(3,678	)	$	2,094		$	(501	)
Foreign		41,084			27,650			35,885
State and local (primarily UBT)		(167	)		5,813			2,342

Total current		37,239			35,557			37,726

Deferred:
Federal		19,934			(3,330	)		16,167
Foreign		(4,520	)		(1,127	)		(2,832	)
State and local (primarily UBT)		(960	)		–			(6,121	)

Total deferred		14,454			(4,457	)		7,214

Total	$	51,693		$	31,100		$	44,940

Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Tax Rates

Year Ended December 31,
	2013			2012			2011
U.S. federal statutory income tax rate		35.0	%		35.0	%		35.0	%
Income of noncontrolling interests		(0.8	)		(2.4	)		(2.0	)
Share-based incentive compensation		–			7.4			–
Foreign source income not subject to U.S. income tax		(12.7	)		(34.6	)		(13.8	)
Foreign taxes		14.1			13.5			8.3
State and local taxes (primarily UBT)		2.6			3.4			0.9
Change in U.S. federal valuation allowance		(14.9	)		1.4			(8.3	)
Other, net		0.5			1.4			(1.0	)

Effective income tax rate		23.8	%		25.1	%		19.1	%

Schedule of Deferred Tax Assets and Liabilities

Details of the Company’s deferred tax assets and liabilities, which are included in “other assets” and “other liabilities”, respectively, on the consolidated statements of financial condition, are as follows:


	December 31,
	2013			2012
Deferred Tax Assets:
Basis adjustments (primarily as a result of the separation and recapitalization transactions that occurred during 2005 and from secondary offerings)	$	739,059		$	820,229
Compensation and benefits		250,413			243,564
Net operating loss and tax credit carryforwards		348,433			308,233
Depreciation and amortization		8,169			3,404
Other		58,273			30,626

Gross deferred tax assets		1,404,347			1,406,056
Valuation allowance		(1,225,305	)		(1,238,765	)

Deferred tax assets (net of valuation allowance)	$	179,042		$	167,291

Deferred Tax Liabilities:
Depreciation and amortization	$	19,296		$	33,715
Compensation and benefits		30,042			4,292
Goodwill		15,434			15,843
Other		70,394			50,648

Deferred tax liabilities	$	135,166		$	104,498

The basis adjustments recorded as of December 31, 2013 and 2012 are the result of:

•

tax basis step-up for U.S. income tax purposes on certain U.K. assets, which resulted in deferred tax assets of $6,538 and $16,083 at December 31, 2013 and 2012, respectively, and

•

tax basis step-up for payments made under the tax receivable agreement of $5,942 and $6,694 at December 31, 2013 and 2012, respectively.

Schedule of Gross Unrecognized Tax Benefits

A reconciliation of the beginning to the ending amount of gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2013, 2012 and 2011 is as follows:


	Year Ended December 31,
	2013			2012			2011
Balance, January 1 (excluding interest and penalties of $14,799, $8,454 and $7,099, respectively)	$	55,947		$	62,200		$	58,605
Increases in gross unrecognized tax benefits relating to tax positions taken during:
Prior years		417			1,393			1,081
Current year		17,596			19,690			16,928
Decreases in gross unrecognized tax benefits relating to:
Tax positions taken during prior years		(385	)		(5,397	)		(5,133	)
Settlements with tax authorities		(5,587	)		(12,077	)		–
Lapse of the applicable statute of limitations		(5,083	)		(9,862	)		(9,281	)

Balance, December 31 (excluding interest and penalties of $12,200, $14,799 and $8,454, respectively)	$	62,905		$	55,947		$	62,200

Schedule of Additional Information Relating to Unrecognized Tax Benefits

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


	Year Ended December 31,
	2013			2012		2011
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $12,200, $14,799 and $8,454, respectively)	$	36,272		$	44,452	$	44,545
Offset to deferred tax assets for unrecognized tax benefits that, if recognized, would not affect the effective tax rate	$	38,833		$	26,294	$	26,109
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $7,326, $3,130 and $1,785, respectively)	$	(2,599	)	$	6,345	$	1,355

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

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Company's Basic and Diluted Net Income Per Share and Weighted Average Shares Outstanding

The calculations of the Company’s basic and diluted net income per share and weighted average shares outstanding for the years ended December 31, 2013, 2012 and 2011 are presented below:


	Year Ended December 31,
	2013		2012		2011
Net income attributable to Lazard Ltd	$	160,212		$84,309		$174,917
Add (deduct) - adjustment associated with Class A common stock issuable on a non-contingent basis		—		7		284

Net income attributable to Lazard Ltd - basic		160,212		84,316		175,201
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, convertible preferred stock and exchangeable interests, net of tax		1,065		371		12,512

Net income attributable to Lazard Ltd - diluted		$161,277		$84,687		$187,713


Weighted average number of shares of Class A common stock outstanding		120,096,305		116,163,821		115,005,676
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		757,962		790,168		3,026,344

Weighted average number of shares of Class A common stock outstanding - basic		120,854,267		116,953,989		118,032,020
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests		12,882,812		12,371,633		19,597,505

Weighted average number of shares of Class A common stock outstanding - diluted		133,737,079		129,325,622		137,629,525

Net income attributable to Lazard Ltd per share of Class A common stock:
Basic		$1.33		$0.72		$1.48

Diluted		$1.21		$0.65		$1.36

Related Parties (Tables)

12 Months Ended

Dec. 31, 2013

Amounts Receivable from and Payable to Related Parties

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


	December 31,
	2013		2012
Receivables
LFCM Holdings	$	7,794	$	20,529
Other		126		3,272

Total	$	7,920	$	23,801

Payables
LFCM Holdings	$	4,300	$	2,943
Other		731		705

Total	$	5,031	$	3,648

Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets

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


		As Of Or For The Year Ended December 31,
		2013(b)			2012(b)			2011
Financial Advisory	Net Revenue	$	980,577		$	1,049,090		$	992,107
	Operating Expenses (a)		959,668			1,057,620			929,688

	Operating Income (Loss)	$	20,909		$	(8,530	)	$	62,419

	Total Assets	$	714,708		$	793,007		$	767,699


Asset Management	Net Revenue	$	1,039,130		$	896,260		$	897,401
	Operating Expenses (a)		704,045			659,502			628,945

	Operating Income	$	335,085		$	236,758		$	268,456

	Total Assets	$	612,018		$	566,677		$	583,524


Corporate	Net Revenue	$	(34,355	)	$	(32,902	)	$	(59,996	)
	Operating Expenses (a)		104,832			71,441			35,380

	Operating Loss	$	(139,187	)	$	(104,343	)	$	(95,376	)

	Total Assets	$	1,684,411		$	1,627,209		$	1,730,713


Total	Net Revenue	$	1,985,352		$	1,912,448		$	1,829,512
	Operating Expenses (a)		1,768,545			1,788,563			1,594,013

	Operating Income	$	216,807		$	123,885		$	235,499

	Total Assets	$	3,011,137		$	2,986,893		$	3,081,936

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


	Year Ended December 31,
	2013		2012		2011
Financial Advisory	$	5,256	$	5,710	$	6,739
Asset Management		2,556		3,250		3,502
Corporate		26,938		21,895		14,339

Total	$	34,750	$	30,855	$	24,580

(b)	See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives announced by the Company in 2013 and 2012, and the impact on each of the Company’s business segments.

Schedule of Revenue from External Customers and Identifiable Assets, by Geographical Areas

The following table sets forth the net revenue from, and identifiable assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above.


	As Of Or For The Year Ended December 31,
	2013			2012			2011
Net Revenue:
United States	$	1,217,014		$	1,172,566		$	1,083,457
United Kingdom		205,695			180,784			190,307
France		281,740			265,523			234,441
Other Western Europe		123,975			132,754			174,284
Rest of World		156,928			160,821			147,023

Total	$	1,985,352		$	1,912,448		$	1,829,512

Operating Income (Loss):
United States	$	234,247		$	169,111		$	209,236
United Kingdom		(6,474	)		(37,329	)		(18,074	)
France		14,845			8,332			8,262
Other Western Europe		(8,260	)		(20,812	)		27,276
Rest of World		(17,551	)		4,583			8,799

Total	$	216,807		$	123,885		$	235,499

Identifiable Assets:
United States	$	1,529,695		$	1,507,331		$	1,630,547
United Kingdom		239,606			226,578			253,365
France		824,712			808,655			773,196
Other Western Europe		118,939			114,763			116,682
Rest of World		298,185			329,566			308,146

Total	$	3,011,137		$	2,986,893		$	3,081,936

Supplemental Financial Information - Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information


	2013 Fiscal Quarter
	First(a)		Second(a)		Third		Fourth(b)			Year
	(dollars in thousands, except per share data)
Net revenue	$	401,903	$	490,405	$	480,354	$	612,690		$	1,985,352
Operating expenses		380,306		449,467		399,236		539,536			1,768,545

Operating income	$	21,597	$	40,938	$	81,118	$	73,154		$	216,807

Net income	$	17,649	$	31,921	$	62,748	$	52,796		$	165,114
Less - net income (loss) attributable to noncontrolling interests		2,289		568		2,466		(421	)		4,902

Net income attributable to Lazard Ltd	$	15,360	$	31,353	$	60,282	$	53,217		$	160,212

Attributable to Lazard Ltd Class A common stockholders:
Net income per share of common stock:
Basic		$0.13		$0.26		$0.49		$0.44			$1.33
Diluted		$0.12		$0.24		$0.45		$0.40			$1.21
Dividends declared per share of common stock		—		$0.25		$0.25		$0.50			$1.00

(a)	See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives.

(b)	See Note 11 of Notes to Consolidated Financial Statements for information regarding the debt refinancing.



	2012 Fiscal Quarter
	First		Second		Third		Fourth(a)			Year
	(dollars in thousands, except per share data)
Net revenue	$	486,039	$	436,910	$	428,806	$	560,693		$	1,912,448
Operating expenses		448,216		392,377		382,080		565,890			1,788,563

Operating income (loss)	$	37,823	$	44,533	$	46,726	$	(5,197	)	$	123,885

Net income (loss)	$	29,056	$	34,162	$	33,673	$	(4,106	)	$	92,785
Less - net income attributable to noncontrolling interests		3,504		3,341		372		1,259			8,476

Net income (loss) attributable to Lazard Ltd	$	25,552	$	30,821	$	33,301	$	(5,365	)	$	84,309

Attributable to Lazard Ltd Class A common stockholders:
Net income (loss) per share of common stock:
Basic		$0.21		$0.26		$0.29		$(0.05	)		$0.72
Diluted		$0.20		$0.24		$0.26		$(0.05	)		$0.65
Dividends declared per share of common stock		$0.16		$0.20		$0.20		$ 0.60			$1.16

(a)	See Note 16 of Notes to Consolidated Financial Statements for information regarding the Cost Saving Initiatives announced in the fourth quarter of 2012.

Organization and Basis of Presentation - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013 Segment $ / shares shares	Dec. 31, 2012 $ / shares shares
Organization And Basis Of Presentation [Line Items]
Governing Operating Agreement, date	May 10, 2005
Number of business segments \| Segment	2
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 A Common Stock [Member]
Organization And Basis Of Presentation [Line Items]
Common stock, par value \| $ / shares	$ 0.01	$ 0.01
Common stock, shares issued	129,056,081	128,216,423
Lazard Ltd [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held	99.50%	98.80%
LAZ-MD Holdings LLC [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held	0.50%	1.20%
LAZ-MD Holdings LLC [Member] \| Class B Common Stock [Member]
Organization And Basis Of Presentation [Line Items]
Common stock, shares outstanding	1
Common stock, shares issued	1
LAZ-MD Holdings LLC [Member] \| Class A Common Stock [Member]
Organization And Basis Of Presentation [Line Items]
Common membership voting power held	0.50%	1.20%

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Significant Accounting Policies [Line Items]
Foreign currency remeasurement gains (losses), net	$ (2,887)	$ (761)	$ 1,406
Cash and cash equivalents maturity period	90 days or less
Depreciation and amortization expense	$ 34,750	$ 30,855	24,580
Annual date of goodwill impairment	Nov. 01, 2013	Dec. 31, 2012
Collateralized borrowing activities	$ 0	$ 13,854
Reimbursements of expenses	$ 18,327	$ 24,762	$ 18,942
Minimum [Member]
Significant Accounting Policies [Line Items]
A deferred tax asset is recognized if it is more likely than not (defined as a likelihood of greater than 50%) that a tax benefit will be accepted by a taxing authority.	50.00%
Financial Advisory [Member]
Significant Accounting Policies [Line Items]
Fees receivable outstanding past due	60 days
Contractual payment term description relating to our interest-bearing financing receivables	Financial Advisory transactions include specific contractual payment terms that may vary from one month to four years.
Days fee receivables are considered past due in excess	180 days
Asset Management [Member]
Significant Accounting Policies [Line Items]
Fees receivable outstanding past due	12 months

Receivables - Schedule of Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Receivables [Abstract]
Allowance for doubtful accounts receivables, Beginning balance	$ 23,017	$ 19,450	$ 15,017
Bad debt expense	4,395	6,579	7,952
Charge-offs, foreign currency translation and other adjustments	1,365	(3,012)	(3,519)
Allowance for doubtful accounts receivables, Ending balance	$ 28,777	$ 23,017	$ 19,450

Receivables - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Receivables, Net [Line Items]
Interest-bearing financing fee receivables	$ 69,464	$ 76,481
Allowance for doubtful accounts receivables	28,777	23,017	$ 19,450	$ 15,017
Aggregate carrying amount of non-interest bearing receivables	443,211	401,562
Financing Receivables [Member]
Receivables, Net [Line Items]
Allowance for doubtful accounts receivables	0	0
Trade Receivables [Member]
Receivables, Net [Line Items]
Receivables past due or deemed uncollectible	$ 39,341	$ 25,604

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Schedule of Investments [Line Items]
Debt (including interest-bearing deposits of $516 and $578, respectively)	$ 8,529	$ 5,948
Equities	59,394	44,992
Funds	400,694	356,721
Equity method	9,488	7,012
Total investments	478,105	414,673
Interest-bearing deposits	516	578
Investments, at fair value	468,101	407,083
Securities sold, not yet purchased, at fair value (included in "other liabilities")	4,045	2,755
Debt Funds [Member]
Schedule of Investments [Line Items]
Funds	58,769	32,077
Alternative Investments Funds [Member]
Schedule of Investments [Line Items]
Funds	37,030	57,890
Equity Funds [Member]
Schedule of Investments [Line Items]
Funds	190,702	154,310
Private Equity Funds [Member]
Schedule of Investments [Line Items]
Funds	$ 114,193	$ 112,444

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Investments [Abstract]
Interest-bearing deposits	$ 516	$ 578
Lazard fund interests in equities funds	130,481	76,907
Lazard fund interests in alternative investments funds	7,099	5,054
Lazard fund interests in debt funds	$ 31,515	$ 18,615

Investments - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Investments [Abstract]
Economic interests that are owned by management team and other investors in the Edgewater Funds	$ 9,787	$ 11,490

Investments - Schedule of Trading Securities Gross Unrealized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Investments Debt And Equity Securities [Abstract]
Gross unrealized investment gains	$ 19,465	$ 23,024	$ 2,180
Gross unrealized investment losses	$ 2,995	$ 697	$ 12,844

Fair Value Measurements - Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 468,101	$ 407,083
Equities	59,394	44,992
Derivatives	682	933
Securities sold, not yet purchased	4,045	2,755
Derivatives	164,001	102,492
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	59,394	44,992
Derivatives	682	933
Total Assets	468,783	408,016
Securities sold, not yet purchased	4,045	2,755
Derivatives	164,001	102,492
Total Liabilities	168,046	105,247
Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	8,013	5,370
Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	37,030	57,890
Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	58,769	32,077
Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	190,702	154,310
Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	114,193	112,444
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	58,054	44,802
Derivatives
Total Assets	309,160	223,549
Securities sold, not yet purchased	4,045	2,696
Derivatives
Total Liabilities	4,045	2,696
Level 1 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,681	1,443
Level 1 [Member] \| Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 1 [Member] \| Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	58,765	32,073
Level 1 [Member] \| Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	190,660	145,231
Level 1 [Member] \| Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities
Derivatives	682	933
Total Assets	44,090	68,366
Securities sold, not yet purchased		59
Derivatives	164,001	102,492
Total Liabilities	164,001	102,551
Level 2 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6,332	3,927
Level 2 [Member] \| Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	37,030	54,433
Level 2 [Member] \| Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	4	4
Level 2 [Member] \| Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	42	9,069
Level 2 [Member] \| Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	1,340	190
Derivatives
Total Assets	115,533	116,101
Securities sold, not yet purchased
Derivatives
Total Liabilities
Level 3 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 3 [Member] \| Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		3,457
Level 3 [Member] \| Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 3 [Member] \| Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		10
Level 3 [Member] \| Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 114,193	$ 112,444

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 116,101	$ 133,100	$ 163,798
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	13,373	16,118	(3,416)
Purchases/Acquisitions	7,261	8,599	43,482
Sales/Dispositions	(22,815)	(42,670)	(69,413)
Foreign Currency Translation Adjustments	1,613	954	(1,351)
Ending Balance	115,533	116,101	133,100
Equities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	190	211	316
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	11	5	72
Purchases/Acquisitions	1,095		25
Sales/Dispositions		(30)	(195)
Foreign Currency Translation Adjustments	44	4	(7)
Ending Balance	1,340	190	211
Alternative Investment Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	3,457	10,171
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	117	130	(169)
Purchases/Acquisitions			10,340
Sales/Dispositions	(3,574)	(6,844)
Foreign Currency Translation Adjustments
Ending Balance		3,457	10,171
Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	10
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other
Purchases/Acquisitions		10
Sales/Dispositions	(10)
Foreign Currency Translation Adjustments
Ending Balance		10
Private Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	112,444	122,718	163,482
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	13,245	15,983	(3,319)
Purchases/Acquisitions	6,166	8,589	33,117
Sales/Dispositions	(19,231)	(35,796)	(69,218)
Foreign Currency Translation Adjustments	1,569	950	(1,344)
Ending Balance	$ 114,193	$ 112,444	$ 122,718

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair Value Disclosures [Abstract]
Net unrealized gains (losses)	$ 6,032	$ 12,910	$ (3,268)
Sales/disposition of private equity fund investments			$ 49,500

Fair Value Instruments - Financial Instruments Not Measured at Fair value (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Financial Assets:
Cash and cash equivalents	$ 841,482	$ 850,190	$ 1,003,791	$ 1,209,695
Deposits with banks	244,879	292,494
Cash deposited with clearing organizations and other segregated cash	62,046	65,232
Interest-bearing deposits (included within investments)	516	578
Financial Liabilities:
Deposits and other customer payables	275,434	269,763
Senior debt	1,048,350	1,076,850
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	841,482	850,190
Deposits with banks	244,879	292,494
Cash deposited with clearing organizations and other segregated cash	62,046	65,232
Interest-bearing financing receivables	69,464	76,481
Interest-bearing deposits (included within investments)	516	578
Financial Liabilities:
Deposits and other customer payables	275,434	269,763
Senior debt	1,048,350	1,076,850
Fair Value [Member]
Financial Assets:
Cash and cash equivalents	841,482	850,190
Deposits with banks	244,879	292,494
Cash deposited with clearing organizations and other segregated cash	62,046	65,232
Interest-bearing financing receivables	71,433	78,493
Interest-bearing deposits (included within investments)	516	578
Financial Liabilities:
Deposits and other customer payables	275,434	269,763
Senior debt	1,117,247	1,207,227
Fair Value [Member] \| Level 1 [Member]
Financial Assets:
Cash and cash equivalents	841,482	850,190
Deposits with banks	244,879	292,494
Cash deposited with clearing organizations and other segregated cash	62,046	65,232
Interest-bearing deposits (included within investments)	516	578
Financial Liabilities:
Deposits and other customer payables	275,434	269,763
Fair Value [Member] \| Level 2 [Member]
Financial Liabilities:
Senior debt	1,117,247	1,207,227
Fair Value [Member] \| Level 3 [Member]
Financial Assets:
Interest-bearing financing receivables	$ 71,433	$ 78,493

Fair Value Measurements - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 01, 2012	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Option, Quantitative Disclosures [Line Items]
Money market funds are valued through the use of quoted market prices		$ 1.00
Unfunded Commitments		$ 27,135	$ 31,482
Original commitment	$ 50,000
Reduction in original commitment	$ 17,400
Carried Interest received	20.00%
CP II [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments		$ 1,940
End of the investment period		Feb. 25, 2017
EGCP III [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments		$ 18,501
End of the investment period		Oct. 12, 2016
Remaining commitments date		Oct. 12, 2023
COF2 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded Commitments		$ 6,694
End of the investment period		Nov. 11, 2016
Remaining commitments date		Nov. 11, 2019

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 151,269	$ 179,417
Unfunded Commitments	27,135	31,482
Alternative Investment Funds [Member] \| Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	31,837	25,110
Alternative Investment Funds [Member] \| Funds of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	475	23,252
Alternative Investment Funds [Member] \| Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 4,718	$ 9,528
Alternative Investment Funds [Member] \| Daily [Member] \| Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	daily (7)%	daily (60)%
Alternative Investment Funds [Member] \| Weekly [Member] \| Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	weekly (17)%	weekly (20)%
Alternative Investment Funds [Member] \| Weekly [Member] \| Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	weekly (1)%	weekly (1)%
Alternative Investment Funds [Member] \| Monthly [Member] \| Funds of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	monthly (95)%	monthly (2)%
Alternative Investment Funds [Member] \| Monthly [Member] \| Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	monthly (65)%	monthly (73)%
Alternative Investment Funds [Member] \| Monthly [Member] \| Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	monthly (92)%	monthly (39)%
Alternative Investment Funds [Member] \| Quarterly [Member] \| Funds of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	quarterly (5)%	quarterly (98)%
Alternative Investment Funds [Member] \| Quarterly [Member] \| Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	quarterly (18)%	quarterly (7)%
Alternative Investment Funds [Member] \| Minimum [Member] \| Funds of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Alternative Investment Funds [Member] \| Minimum [Member] \| Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Alternative Investment Funds [Member] \| Minimum [Member] \| Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Alternative Investment Funds [Member] \| Maximum [Member] \| Funds of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	120 days
Alternative Investment Funds [Member] \| Maximum [Member] \| Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90days	90 days
Alternative Investment Funds [Member] \| Maximum [Member] \| Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Debt Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 4	$ 4
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	daily (100)%	daily (100)%
Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 42	$ 9,079
% of Fair Value Not Redeemable		2.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter		2.00%
Equity Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	daily (13%)	daily (37)%
Equity Funds [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	monthly (58%)	monthly (61)%
Equity Funds [Member] \| Quarterly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	quarterly (29%)
Equity Funds [Member] \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Equity Funds [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	120 days
Private Equity Funds [Member] \| Equity Growth [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 70,054	$ 71,068
Unfunded Commitments	$ 27,135	$ 31,482
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	17.00%	21.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	60.00%	61.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	23.00%	18.00%
Private Equity Funds [Member] \| Mezzanine Debt [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 44,139	$ 41,376
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	100.00%	100.00%

Derivatives - Fair Value of Derivatives Reported on Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 682	$ 933
Derivative Liabilities	164,001	102,492
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	250	893
Derivative Liabilities	1,579	322
Equity and Fixed Income Swaps and Other [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	432	40
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities		235
Equity and Fixed Income Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities		4,342
Lazard Fund Interests and Other Similar Deferred Compensation Arrangements [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 162,422	$ 97,593

Derivatives - Fair Value of Derivatives Reported on Consolidated Statements of Financial Condition (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Gross assets for equity and fixed income swaps	$ 2,019	$ 0
Gross liabilities for equity and fixed income swaps	1,587	4,342
Cash collateral pledged for equity and fixed income swaps	$ 11,384	$ 15,304

Derivatives - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (28,192)	$ (27,728)	$ 9,722
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(3,162)	(1,844)	2,422
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	(14,099)	(7,557)	3,024
Equity and Fixed Income Swaps and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (10,931)	$ (18,327)	$ 4,276

Property - Property (Detail) - USD ($) $ in Thousands	12 Months Ended
Property - Property (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 502,726	$ 450,894
Less - accumulated depreciation and amortization	253,930	225,861
Property	248,796	225,033
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	173,772	166,560
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	175,600	143,408
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	149,598	122,125
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 3,756	$ 18,801
Minimum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] \| Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] \| Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	33 years
Maximum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Maximum [Member] \| Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 345,453	$ 364,328	$ 356,657	$ 313,229
Other intangible assets (net of accumulated amortization)	18,424	28,494
Goodwill and other intangible assets, Total	$ 363,877	$ 392,822

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 345,453	$ 364,328	$ 356,657	$ 313,229
Goodwill impairment charges	0	0	0
Amortization expense of intangible assets	10,114	8,359	$ 11,915
Financial Advisory Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	280,912	299,787
Asset Management Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 64,541	$ 64,541

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 364,328	$ 356,657	$ 313,229
Business acquisitions, including, in the 2011 period, additional contingent consideration earned relating to a prior year business acquisition	1,748	4,272	42,566
Foreign currency translation adjustments	(20,623)	3,399	862
Ending Balance	$ 345,453	$ 364,328	$ 356,657

Goodwill and Other Intangible Assets - Gross Cost and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Intangible Assets [Line Items]
Other intangible assets, Gross Cost	$ 63,803	$ 63,775
Other intangible assets, Accumulated Amortization	45,379	35,281
Other intangible assets, Net Carrying Amount	18,424	28,494
Success\Performance Fees [Member]
Intangible Assets [Line Items]
Other intangible assets, Gross Cost	30,740	30,740
Other intangible assets, Accumulated Amortization	17,173	10,678
Other intangible assets, Net Carrying Amount	13,567	20,062
Management Fees, Customer Relationships and Non-Compete Agreements [Member]
Intangible Assets [Line Items]
Other intangible assets, Gross Cost	33,063	33,035
Other intangible assets, Accumulated Amortization	28,206	24,603
Other intangible assets, Net Carrying Amount	$ 4,857	$ 8,432

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Dec. 31, 2013 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2014	$ 6,810
2015	6,433
2016	5,181
Total amortization expense	$ 18,424

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible asset amortization attributable to noncontrolling interest, percentage	43.00%

Other Assets and Other Liabilities - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Current tax receivables and deferred tax assets (net of valuation allowance) and other taxes	$ 110,014	$ 137,394
Prepaid compensation (see Note 14)	60,433	47,445	$ 17,783
Other advances and prepayments	33,526	33,401
Deferred debt issuance costs	9,188	4,902
Other	46,116	45,264
Total	$ 259,277	$ 268,406

Other Assets and Liabilities - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 136,677	$ 147,194
Current and deferred income taxes and other taxes	119,940	121,854
Employee benefit-related liabilities	104,013	83,629
Deferred lease incentives	84,897	74,880
Unclaimed funds at LFB	26,626	28,716
Abandoned leased space (principally in the U.K.)	12,855	8,475
Securities sold, not yet purchased	4,045	2,755
Other	24,374	32,148
Total	$ 513,427	$ 499,651

Senior and Subordinated Debt - Senior Debt (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 14, 2013	Dec. 31, 2013	Dec. 31, 2012	Sep. 25, 2012
Debt Instrument [Line Items]
Senior Debt, Outstanding		$ 1,048,350	$ 1,076,850
Revolving Credit Facility, Initial Principal Amount				$ 150,000
Lazard Group 7.125% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding			$ 528,500
Senior Debt, Maturity Date			May 15, 2015
Senior Debt, Initial Principal Amount			$ 550,000
Senior Debt, Annual Interest Rate			7.125%
Lazard Group 6.85% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding		$ 548,350	$ 548,350
Senior Debt, Maturity Date		Jun. 15, 2017
Senior Debt, Initial Principal Amount		$ 600,000
Senior Debt, Annual Interest Rate		6.85%
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding		$ 500,000
Senior Debt, Maturity Date	Nov. 14, 2020	Nov. 14, 2020
Senior Debt, Initial Principal Amount	$ 500,000	$ 500,000
Senior Debt, Annual Interest Rate	4.25%	4.25%
Lazard Group Credit Facility [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding
Revolving Credit Facility, Initial Principal Amount		$ 150,000
Credit Facility, Expiration Date		Sep. 25, 2015
Revolving Credit Facility, Annual Interest Rate		0.79%

Senior and Subordinated Debt - Senior Debt (Parenthetical) (Detail) - USD ($) $ in Thousands			12 Months Ended
	Nov. 14, 2013	Nov. 06, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Pre-tax gain/loss on the extinguishment of debt			$ 50,757		$ (18,171)
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000		$ 500,000
Senior Debt, Maturity Date	Nov. 14, 2020		Nov. 14, 2020
Interest rate, payment terms	Interest on the 2020 Notes is payabale semi-annually on may 14 and November 14 of each year commencing on May 14 , 2014.
Senior notes interest rate	4.25%		4.25%
7.125% Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of Senior debt		$ 528,500
Pre-tax gain/loss on the extinguishment of debt		50,757
Interest Rate Forward Agreement [Member] \| Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 1,767
Interest Rate Hedge [Member] \| 7.125% Senior Notes [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 1,563

Senior and Subordinated Debt - Additional Information (Detail) - USD ($) $ in Thousands			12 Months Ended
	Sep. 25, 2012	Jul. 22, 2011	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Senior revolving credit facility over next 3 years	$ 150,000
Duration of senior revolving credit facility, in years	3 years
Outstanding credit facility			$ 0	$ 0
Promissory note representing subordinated debt, repurchased		$ 150,000
Subordinated promissory note, at cost		131,829
Unused lines of Credit [Member]
Debt Instrument [Line Items]
Outstanding credit facility			258,000
LFB [Member] \| Unused lines of Credit [Member]
Debt Instrument [Line Items]
Outstanding credit facility			48,000
Edgewater [Member] \| Unused lines of Credit [Member]
Debt Instrument [Line Items]
Outstanding credit facility			$ 55,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Expiration date of credit facility	Sep. 25, 2015
Revolving credit facility annual interest rate			0.79%
Subordinated Debt [Member]
Debt Instrument [Line Items]
Pre-tax gain resulted from repurchasing of subordinated note		$ 18,171

Senior and Subordinated Debt - Debt Maturities Relating to Senior Borrowings Outstanding (Detail) - Senior Borrowings Outstanding [Member] $ in Thousands	Dec. 31, 2013 USD ($)
Debt Instrument, Redemption [Line Items]
2014-2016
2017	548,350
2018
Thereafter	500,000
Total	$ 1,048,350

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands				3 Months Ended	12 Months Ended
	Oct. 31, 2011	Jul. 15, 2009	Jan. 02, 2009	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Contingencies And Commitments [Line Items]
Office space under agreement, expires through					2033
Rental expense relating to operating leases					$ 86,504	$ 80,888	$ 76,718
Sublease income					$ 11,404	9,613	10,967
Capital lease obligation payable through					2017
Weighted average interest rate of capital					6.20%
Book value of assets under capital lease					$ 20,806	23,486
Liabilities of abandoned leased facilities in the U.K.					11,203	7,516
Guarantees indemnifications					5,897
Collateral/counter-guarantees					4,993
Payment for equity interests in LAM	$ 90,000		$ 60,000
Issue of Class A common stock	2,210,520
Withheld shares for tax obligations in lieu of delivery of shares	68,384
Additional cash payment subject to delayed payment/issuance until eighth anniversary					$ 961	$ 961
Additional issuance of Class A common shares subject to delayed payment/issuance until eighth anniversary					24,537	24,537
Aggregate fair value of consideration recognized by the company at acquisition date		$ 61,624
Earnout shares earned					1,371,992	1,209,154
Earnout shares became settled					1,029,006	686,004
Common stock issuable on contingent basis					0
Maximum obligation to pay earn-out consideration if certain performance thresholds are achieved					$ 7,000	$ 7,000
Buildings [Member]
Contingencies And Commitments [Line Items]
Obligations collateralized by certain assets with a net book value					19,876	21,932
LFCM Holdings [Member]
Contingencies And Commitments [Line Items]
Sublease income					$ 4,136	$ 3,290	$ 2,192
Class A Common Stock [Member]
Contingencies And Commitments [Line Items]
Common stock issuable on contingent basis					107,617
Common stock issuable on non-contingent basis						170,988
Common stock issued on non-contingent basis				170,988
Class A Common Stock [Member] \| Maximum [Member]
Contingencies And Commitments [Line Items]
Common stock issuable on contingent basis					202,650
Initial Shares [Member]
Contingencies And Commitments [Line Items]
Additional shares issued and subject to earnout criteria and payable over time		1,142,857
Earnout Shares [Member]
Contingencies And Commitments [Line Items]
Additional shares issued and subject to earnout criteria and payable over time		1,142,857

Commitments and Contingencies - Schedule of Future Minimum Rental Payment for Operating Leases and Capital Leases (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Minimum Rental Commitments Capital - 2014	$ 3,221
Minimum Rental Commitments Capital - 2015	2,895
Minimum Rental Commitments Capital - 2016	2,579
Minimum Rental Commitments Capital - 2017	9,478
Minimum Rental Commitments Capital - 2018
Minimum Rental Commitments Capital - Thereafter
Total minimum lease payments - Capital	18,173
Less amount representing interest	2,339
Present value of capital lease commitments	15,834
Minimum Rental Commitments Operating - 2014	81,467
Minimum Rental Commitments Operating - 2015	77,427
Minimum Rental Commitments Operating - 2016	74,420
Minimum Rental Commitments Operating - 2017	69,530
Minimum Rental Commitments Operating - 2018	65,232
Minimum Rental Commitments Operating - Thereafter	650,050
Total minimum lease payments - Operating	1,018,126
Less sublease proceeds	155,547
Net lease payments	$ 862,579

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended								12 Months Ended
	Dec. 31, 2013	Jan. 29, 2014	Dec. 31, 2013	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Stockholders Equity [Line Items]
Common stock of parent held by subsidiary	8,317,065		8,317,065	8,317,065				12,802,938				8,317,065	12,802,938
Share repurchase remaining capacity	$ 121,589
Authorized shares of preferred stock	15,000,000		15,000,000	15,000,000				15,000,000				15,000,000	15,000,000
Par value of preferred stock	$ 0.01		$ 0.01	$ 0.01				$ 0.01				$ 0.01	$ 0.01
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK				$ 0.50	$ 0.25	$ 0.25		$ 0.60	$ 0.20	$ 0.20	$ 0.16	$ 1.000	$ 1.160	$ 0.605
Lazard Ltd [Member]
Schedule Of Stockholders Equity [Line Items]
Shares in exchange of a like number of common membership interests												839,658	5,207,112	876,814
Class A Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Business acquisition number of common stock issued														2,434,561
Conversion of stock, shares delivered from Class A common stock held by subsidiaries														3,515,362
Convertible preferred stock														14,100
Conversion of Series A preferred stock into Class A common stock (in shares)														2,434,561
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK			$ 0.25
Dividend payable date			Dec. 27, 2013
Dividend date of record			Dec. 20, 2013
Dividend declare date			Dec. 10, 2013
Class A Common Stock [Member] \| Subsequent Event [Member]
Schedule Of Stockholders Equity [Line Items]
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK		$ 0.30
Dividend payable date		Feb. 21, 2014
Dividend date of record		Feb. 10, 2014
Dividend declare date		Jan. 29, 2014
Series A Preferred Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Outstanding shares of preferred stock	7,921		7,921	7,921				7,921				7,921	7,921
December 2014 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining capacity	$ 21,589
December 2015 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining capacity	$ 100,000

Stockholders' Equity - Lazard Group Distributed Amounts to LAZ-MD Holdings and Subsidiaries of Lazard Ltd (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Group Distributions [Line Items]
Company tax distributions	$ 2,976		$ 17,499
Company other distributions	122,540	140,278	74,955
LAZ-MD Holdings [Member]
Schedule Of Group Distributions [Line Items]
Company tax distributions	80		699
Company other distributions	920	5,170	4,383
Subsidiaries of Lazard Ltd [Member]
Schedule Of Group Distributions [Line Items]
Company tax distributions	2,896		16,800
Company other distributions	$ 121,620	$ 135,108	$ 70,572

Stockholders' Equity - Schedule of Share Repurchase Authorized by Board of Directors (Detail) - Share Repurchase Program [Member] - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2013	Oct. 31, 2012	Apr. 30, 2012	Oct. 31, 2011	Feb. 28, 2011
Equity [Abstract]
Share Repurchase Authorization	$ 100,000	$ 200,000	$ 125,000	$ 125,000	$ 250,000
Expiration	December 31, 2015	December 31, 2014	December 31, 2013	December 31, 2013	December 31, 2012

Stockholders' Equity - Schedule Of Share Repurchases Program (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share Repurchase Program [Abstract]
Number of Shares/Common Membership Interests Purchased	3,488,101	12,817,196	6,135,189
Average Price Per Share/Common Membership Interest	$ 37.98	$ 27.66	$ 33.39

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (110,541)
Other comprehensive gain (loss) before reclassifications	(29,531)
Adjustments for items reclassified to earnings, net of tax	7,068
Net other comprehensive income (loss)	(22,463)
Ending balance	(133,004)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	19,405
Other comprehensive gain (loss) before reclassifications	(15,536)
Adjustments for items reclassified to earnings, net of tax
Net other comprehensive income (loss)	(15,536)
Ending balance	3,869
Interest Rate Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,502)
Other comprehensive gain (loss) before reclassifications
Adjustments for items reclassified to earnings, net of tax	2,502
Net other comprehensive income (loss)	2,502
Ending balance
Employee Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(128,536)
Other comprehensive gain (loss) before reclassifications	(13,500)
Adjustments for items reclassified to earnings, net of tax	4,605
Net other comprehensive income (loss)	(8,895)
Ending balance	(137,431)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(111,633)
Other comprehensive gain (loss) before reclassifications	(29,036)
Adjustments for items reclassified to earnings, net of tax	7,107
Net other comprehensive income (loss)	(21,929)
Ending balance	(133,562)
Noncontrolling Interests [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,092)
Other comprehensive gain (loss) before reclassifications	495
Adjustments for items reclassified to earnings, net of tax	39
Net other comprehensive income (loss)	534
Ending balance	$ (558)

Stockholders' Equity - Gains (Losses) Reclassified Out of AOCI (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less - related income taxes	$ 51,693	$ 31,100	$ 44,940
Net of tax	7,068
Total reclassifications, net of tax	7,107
Interest Rate Hedge [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of interest rate hedge	2,502
Net of tax	2,502
Employee Benefit Plans [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization relating to employee benefit plans	6,534
Less - related income taxes	1,929
Net of tax	$ 4,605

Stockholders' Equity - Gains (Losses) Reclassified Out of AOCI (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Interest Expense [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of interest rate hedge	$ 939
Operating Expenses Other [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of interest rate hedge	$ 1,563

Stockholders' Equity - Changes in Ownership Interests (Detail) - shares	Dec. 31, 2013	Dec. 31, 2012
Lazard Ltd [Member]
Change In Ownership Interest [Line Items]
Ending balance (in shares)	129,056,081	128,216,423
Percentage of Ownership, Ending Balance	99.50%	98.80%
LAZ-MD Holdings [Member]
Change In Ownership Interest [Line Items]
Ending balance (in shares)	710,009	1,549,667
Percentage of Ownership, Ending Balance	0.50%	1.20%
Total Lazard Group Common Membership Interests [Member]
Change In Ownership Interest [Line Items]
Ending balance (in shares)	129,766,090	129,766,090

Stockholders' Equity - Net Income Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests	$ (421)	$ 2,466	$ 568	$ 2,289	$ 1,259	$ 372	$ 3,341	$ 3,504	$ 4,902	$ 8,476	$ 15,642
Noncontrolling interests	69,789				81,884				69,789	81,884
Edgewater [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests									3,913	3,491	4,130
Noncontrolling interests	66,641				75,262				66,641	75,262
LAZ-MD Holdings [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests									1,198	5,114	11,964
Noncontrolling interests	2,566				5,405				2,566	5,405
Other [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests									(209)	(129)	$ (452)
Noncontrolling interests	$ 582				$ 1,217				$ 582	$ 1,217

Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares subject to each PRSU no longer subject to forfeiture due to threshold level of performance being achieved		25.00%
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, vested		9,768,849	7,284,031	8,054,387
RSUs exchanged for shares of restricted Class A common stock			1,523,642
Liability Awards [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs modified through a forward purchase agreement			958,213
Liability award					$ 28,612
Liability awards, compensation expense		$ 1,690
Amount recorded in accrued compensation expense related to liability award after amortization			$ 26,922
Lazard Fund Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, years		1 year 6 months
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred incentive awards excluding PRSUs	$ 275,000
Subsequent Event [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, years	2 years 8 months 12 days
Subsequent Event [Member] \| PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive awards - PSRUs granted for cliff, vesting period	2017-03
Non-Executive [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual compensation received by directors in the form of DSUs		55.00%
One-Third Vesting [Member] \| Subsequent Event [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive awards - RSUs, vesting date	Mar. 01, 2016
Two-Thirds Vesting [Member] \| Subsequent Event [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive awards - RSUs, vesting date	Mar. 01, 2017
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 19,430
Unrecognized compensation expense, years		1 year 4 months 24 days
PRSUs [Member] \| March 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period associated with PRSUs		33.00%
PRSUs [Member] \| March 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period associated with PRSUs		67.00%
PRSUs [Member] \| Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value amount	$ 16,000
PRSUs [Member] \| Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		448,128
Weighted Average Grant Date Fair Value, Granted		$ 36.11
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual compensation paid in DSUs		39,315	53,239	26,859
Units granted under the directors deferred unit plan		7,623	10,597	8,184
Shares granted		46,938	63,836	35,043
Weighted Average Grant Date Fair Value, Granted		$ 34.42	$ 24.06	$ 36.09
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 156,537
Unrecognized compensation expense, years		1 year
Shares granted		5,174,810	8,594,744	7,002,736
Weighted Average Grant Date Fair Value, Granted		$ 37.21	$ 27.68	$ 43.21
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 7,361
Unrecognized compensation expense, years		1 year 2 months 12 days
Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs exchanged for shares of restricted Class A common stock			1,523,642
Class A Common Stock [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery		3,651,050	1,471,814	2,353,561
Delivery of common stock associated with stock awards		6,117,799	3,330,362	5,700,826
Class A Common Stock [Member] \| 2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements, 2005 Plan		25,000,000
Class A Common Stock [Member] \| Awarded under 2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding Class A common stock		30.00%
Class A Common Stock [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery		18,599	28,129
Delivery of common stock associated with stock awards		1,709,910	174,381

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based incentive awards:
Share-based incentive awards	$ 235,898	$ 310,348	$ 275,142
RSUs [Member]
Share-based incentive awards:
Share-based incentive awards	209,974	298,809	264,110
PRSUs [Member]
Share-based incentive awards:
Share-based incentive awards	12,934
Restricted Stock [Member]
Share-based incentive awards:
Share-based incentive awards	11,374	10,003	9,767
DSUs [Member]
Share-based incentive awards:
Share-based incentive awards	$ 1,616	$ 1,536	$ 1,265

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Staff reductions and Cost Saving Initiatives	$ 9,099	$ 26,158
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Staff reductions and Cost Saving Initiatives	$ 247	$ 713

Incentive Plans - Schedule of Issuance of RSUs and Charges to Retained Earnings (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of RSUs issued	442,242	920,791	389,846
Charges to retained earnings, net of estimated forfeitures	$ 16,476	$ 24,990	$ 11,120

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	21,481,131	20,751,829	22,108,635
Units, Granted	5,174,810	8,594,744	7,002,736
Units, Forfeited	(268,900)	(581,411)	(305,155)
Units, Vested	(9,768,849)	(7,284,031)	(8,054,387)
Units, Ending Balance	16,618,192	21,481,131	20,751,829
Weighted Average Grant Date Fair Value, Beginning Balance	$ 33.92	$ 36.84	$ 35.67
Weighted Average Grant Date Fair Value, Granted	37.21	27.68	43.21
Weighted Average Grant Date Fair Value, Forfeited	34.47	35.59	37.83
Weighted Average Grant Date Fair Value, Vested	34.65	34.71	39.13
Weighted Average Grant Date Fair Value, Ending Balance	$ 34.51	$ 33.92	$ 36.84
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	204,496	140,660	121,737
Units, Granted	46,938	63,836	35,043
Units, Forfeited
Units, Vested			(16,120)
Units, Ending Balance	251,434	204,496	140,660
Weighted Average Grant Date Fair Value, Beginning Balance	$ 31.47	$ 34.83	$ 34.46
Weighted Average Grant Date Fair Value, Granted	34.42	24.06	36.09
Weighted Average Grant Date Fair Value, Forfeited
Weighted Average Grant Date Fair Value, Vested			34.76
Weighted Average Grant Date Fair Value, Ending Balance	$ 32.02	$ 31.47	$ 34.83

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Parenthetical) (Detail) - shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend participation rights	442,242	920,791	389,846

Incentive Plans - Summary of Activity Related to Shares of Restricted Class A Common Stock (Detail) - RSA [Member] - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	1,972,609	95,332	95,332
Units, Granted/Exchanged	368,736	2,100,965	327,238
Units, Forfeited	(37,782)	(21,178)
Units, Vested	(1,728,509)	(202,510)	(327,238)
Units, Ending Balance	575,054	1,972,609	95,332
Weighted Average Grant Date Fair Value, Beginning Balance	$ 34.85	$ 37.63	$ 37.63
Weighted Average Grant Date Fair Value, Granted/Exchanged	36.74	34.34	43.70
Weighted Average Grant Date Fair Value, Forfeited	33.37	29.51
Weighted Average Grant Date Fair Value, Vested	36.00	31.43	43.70
Weighted Average Grant Date Fair Value, Ending Balance	$ 32.72	$ 34.85	$ 37.63

Incentive Plans - Summary of Activity Related to Shares of Restricted Class A Common Stock (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2012 $ / shares shares
Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs exchanged for shares of restricted Class A common stock	1,523,642
Restricted stock units exchanged for shares of restricted Class A common stock, grant date fair value \| $ / shares	$ 35.95
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs exchanged for shares of restricted Class A common stock	1,523,642

Incentive Plans - Summary of Fund Interests and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Deferred Compensation Arrangements [Abstract]
Prepaid Compensation Asset, Beginning Balance	$ 47,445	$ 17,783
Prepaid Compensation Asset, Granted	72,217	64,679
Prepaid Compensation Asset, Settled
Prepaid Compensation Asset, Forfeited	(1,075)	(1,603)
Prepaid Compensation Asset, Amortization	(58,023)	(33,476)
Prepaid Compensation Asset, Increase in fair value of underlying investments
Prepaid Compensation Asset, Adjustment for estimated forfeitures
Prepaid Compensation Asset, Other	(131)	62
Prepaid Compensation Asset, Ending Balance	60,433	47,445
Compensation Liability, Beginning Balance	97,593	29,900
Compensation Liability, Granted	72,217	64,679
Compensation Liability, Settled	(24,006)	(10,646)
Compensation Liability, Forfeited	(1,544)	(1,711)
Compensation Liability, Amortization
Compensation Liability, Increase in fair value of underlying investments	14,099	7,557
Compensation Liability, Adjustment for estimated forfeitures	4,643	7,841
Compensation Liability, Other	(580)	(27)
Compensation Liability, Ending Balance	$ 162,422	$ 97,593

Incentive Plans - Summary of Impact of Fund Interests and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share Based Compensation [Abstract]
Amortization, net of forfeitures	$ 62,197	$ 41,209	$ 14,551
Change in the fair value of underlying investments	14,099	7,557	(3,024)
Total	$ 76,296	$ 48,766	$ 11,527

Incentive Plans - Summary of Impact of Fund Interests and Other Similar Deferred Compensation Arrangements (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Lazard Fund Interests and other similar deferred compensation arrangements [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Staff reductions and Cost Savings Initiatives	$ 2,665	$ 3,495

Employee Benefit Plans - Additional Information (Detail) £ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)	Dec. 31, 2013 GBP (£)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2011 GBP (£)
Defined Benefit Plan Disclosure [Line Items]
Aggregate amount in account security arrangement	$ 16,900		$ 16,500
Change in the assumed healthcare cost trend rate	1.00%	1.00%
Contributions to employer sponsored defined contribution plans	$ 11,778		13,070	$ 10,944
Other Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans	0
2014 [Member] \| Other Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contribution related to the pension plans	4,800
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Change in plan assets due to purchases			131
Change in fair value of plan assets due to net unrealized/realized gains and losses	434		443
Net unrealized gains partially offset by favorable (unfavorable) foreign currency translation adjustments	58		77
Level 1 [Member] \| Asset Management [Member] \| Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity funds managed by LAM	$ 81,633		$ 106,873
U.K. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans		£ 1,400		$ 3,687	£ 2,300
Amended amount from previous escrow arrangement \| £					£ 10,200
U.K. Pension Plans [Member] \| 2014 [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contribution related to the pension plans \| £		1,400
Payments From 2014 Through 2020 [Member]
Defined Benefit Plan Disclosure [Line Items]
Additional contribution to plan assets or escrow account \| £		1,000
Payments From 2012 Through 2020 [Member]
Defined Benefit Plan Disclosure [Line Items]
Additional contribution to plan assets or escrow account \| £		£ 1,000
Non-U.S. Pension Plans [Member] \| Level 1 [Member] \| Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested in equities, debt, funds and cash	32.00%	32.00%	30.00%
Non-U.S. Pension Plans [Member] \| Level 2 [Member] \| Debt Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested in equities, debt, funds and cash	60.00%	60.00%	61.00%
Non-U.S. Pension Plans [Member] \| Level 2 [Member] \| Alternative Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested in equities, debt, funds and cash	8.00%	8.00%	9.00%
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans	$ 0
U.S. Pension Plans [Member] \| 2014 [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contribution related to the pension plans	$ 0
U.S. Pension Plans [Member] \| Level 1 [Member] \| Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plans' assets in equity funds	54.00%	54.00%	51.00%
Percentage of plans' assets in debt funds	46.00%	46.00%	49.00%

Employee Benefit Plans - Summary of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	$ 656,025
Fair value of plan assets at beginning of year	607,705
Benefit obligation at end of year	709,850	$ 656,025
Fair value of plan assets at end of year	643,844	607,705
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded (deficit) at end of year	(66,006)	(48,320)
Prepaid pension asset (included in "other assets")	148	2,659
Accrued benefit liability (included in "other liabilities")	(66,154)	(50,979)
Net amount recognized	(66,006)	(48,320)
Actuarial net loss (gain)	159,575	143,133
Prior service cost	8,901	11,342
Net amount recognized	168,476	154,475
Pension Plans [Member] \| Change in benefit obligation [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	656,025	575,031
Service cost	940	670
Interest cost	27,219	27,636
Actuarial (gain) loss	32,329	57,057
Benefits paid	(23,258)	(26,420)
Foreign currency translation and other adjustments	16,595	22,051
Benefit obligation at end of year	709,850	656,025
Pension Plans [Member] \| Change in plan assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	607,705	568,911
Actual return on plan assets	41,353	33,882
Employer contributions	2,274	8,221
Benefits paid	23,258	26,420
Foreign currency translation and other adjustments	15,770	23,111
Fair value of plan assets at end of year	643,844	607,705
Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded (deficit) at end of year	(5,080)	(5,668)
Accrued benefit liability (included in "other liabilities")	(5,080)	(5,668)
Net amount recognized	(5,080)	(5,668)
Actuarial net loss (gain)	(597)	50
Net amount recognized	(597)	50
Medical Plan [Member] \| Change in benefit obligation [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	5,668	5,362
Service cost	53	60
Interest cost	182	211
Actuarial (gain) loss	(647)	310
Benefits paid	(176)	(275)
Benefit obligation at end of year	5,080	5,668
Medical Plan [Member] \| Change in plan assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	176	275
Benefits paid	$ 176	$ 275

Employee Benefit Plans - Summary of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Assets For Plan Benefits [Abstract]
Excluding tax benefits on amounts recognized	$ 30,448	$ 25,989

Employee Benefit Plans - Summary of Fair Value of Plan Assets, Accumulated Benefit Obligation and Projected Benefit Obligation (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 643,844	$ 607,705
Accumulated benefit obligation	709,850	656,025
Projected benefit obligation	709,850	656,025
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26,200	25,231
Accumulated benefit obligation	29,427	35,276
Projected benefit obligation	29,427	35,276
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	617,644	582,474
Accumulated benefit obligation	680,423	620,749
Projected benefit obligation	$ 680,423	$ 620,749

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Pension Plans [Member]
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 940	$ 670	$ 651
Interest cost	27,219	27,636	28,266
Expected return on plan assets	(27,078)	(26,657)	(30,490)
Amortization of:
Prior service cost	2,843	2,751	2,979
Net actuarial loss	3,691	1,658	258
Settlement loss		1,135
Net periodic benefit cost	7,615	7,193	1,664
Actual return on plan assets	41,353	33,882	29,870
Employer contributions	2,274	8,221	8,689
Benefits paid	23,258	26,420	21,718
Net actuarial (gain) loss	17,251	50,209	51,703
Reclassification of prior service (cost) credit to earnings	(2,843)	(2,751)	(2,979)
Reclassification of actuarial loss to earnings	(3,691)	(2,793)	(258)
Currency translation and other adjustments	3,284	2,729	(491)
Total recognized in AOCI	14,001	47,394	47,975
Net amount recognized in total periodic benefit cost and AOCI	21,616	54,587	49,639
Medical Plan [Member]
Components of Net Periodic Benefit Cost (Credit):
Service cost	53	60	69
Interest cost	182	211	278
Amortization of:
Net periodic benefit cost	235	271	347
Employer contributions	176	275	347
Benefits paid	176	275	347
Net actuarial (gain) loss	(647)	310	(438)
Total recognized in AOCI	(647)	310	(438)
Net amount recognized in total periodic benefit cost and AOCI	$ (412)	$ 581	$ (91)

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]
Tax benefit in plan assets and benefits obligations recognition	$ 4,459	$ 11,805	$ 11,495
Recognition of actuarial losses	2,167
Settlement loss	1,135
Settlement charges	$ 1,032

Employee Benefit Plans - Schedule of Amounts in AOCI on Consolidated Statement of Financial Condition Expected to be Recognized (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	$ 2,954
Net actuarial loss (gain)	4,361
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	2,954
Net actuarial loss (gain)	4,451
Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost
Net actuarial loss (gain)	$ (90)

Employee Benefit Plans - Schedule of Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation and Net Periodic Pension Cost (Detail)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Defined Benefit Plan Disclosure [Line Items]
Healthcare cost trend rates used to determine net periodic benefit cost, Ultimate	1.00%
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Weighted average assumptions used to determine benefit obligations, Discount rate	4.30%	4.60%	4.80%
Weighted average assumptions used to determine net periodic benefit cost, Discount rate	3.30%	3.20%	4.70%
Weighted average assumptions used to determine net periodic benefit cost, Expected long-term rate of return on plan assets	4.70%	4.70%	5.40%
Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Weighted average assumptions used to determine benefit obligations, Discount rate	4.30%	3.40%	4.10%
Weighted average assumptions used to determine net periodic benefit cost, Discount rate	3.40%	4.10%	5.00%
Healthcare cost trend rates used to determine net periodic benefit cost, Initial	8.00%	8.00%	8.00%
Healthcare cost trend rates used to determine net periodic benefit cost, Ultimate	5.00%	6.00%	6.00%
Healthcare cost trend rates used to determine net periodic benefit cost, Year ultimate trend rate achieved	2019	2016	2015

Employee Benefit Plans - Schedule of Effect of Assumed Cost of Healthcare Reported for Company's Post Retirement Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Increase Decrease In Pension And Postretirement Obligations [Abstract]
1% Increase, Cost	$ 33	$ 44
1% Decrease, Cost	(24)	(31)
1% Increase, Obligation	675	880
1% Decrease, Obligation	$ (494)	$ (610)

Employee Benefit Plans - Schedule of Expected Benefit Payments (Detail) $ in Thousands	Dec. 31, 2013 USD ($)
Pension Plans [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
2014	$ 23,736
2015	25,095
2016	26,473
2017	26,721
2018	28,761
2019-2023	163,107
Medical Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
2014	397
2015	398
2016	395
2017	392
2018	391
2019-2023	$ 1,894

Employee Benefit Plans - Schedule of Categorization of Plans' Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	$ 643,844	$ 607,705
Alternative Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	44,728	40,334
Debt Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	337,976	322,149
Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	183,779	157,873
Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	5,835	10,714
Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	27,762	29,337
Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	43,764	47,298
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	273,989	257,652
Level 1 [Member] \| Alternative Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	907
Level 1 [Member] \| Debt Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	11,942	12,430
Level 1 [Member] \| Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	183,779	157,873
Level 1 [Member] \| Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	5,835	10,714
Level 1 [Member] \| Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	27,762	29,337
Level 1 [Member] \| Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	43,764	47,298
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	366,935	347,625
Level 2 [Member] \| Alternative Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	43,123	39,930
Level 2 [Member] \| Debt Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	323,812	307,695
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	2,920	2,428
Level 3 [Member] \| Alternative Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	698	404
Level 3 [Member] \| Debt Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets measured at fair value	$ 2,222	$ 2,024

Cost Saving Initiatives - Activity Related to Obligations Pursuant to Cost Saving Initiatives (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 47,842
New charges	64,703
Non-cash charges	(15,394)
Settlements	(79,935)
Ending Balance	17,216
Accrued Compensation and Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	46,128
New charges	51,399
Non-cash charges	(12,007)
Settlements	(73,660)
Ending Balance	11,860
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	1,714
New charges	13,304
Non-cash charges	(3,387)
Settlements	(6,275)
Ending Balance	$ 5,356

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Federal, current	$ (3,678)	$ 2,094	$ (501)
Foreign, current	41,084	27,650	35,885
State and local (primarily UBT), current	(167)	5,813	2,342
Total current	37,239	35,557	37,726
Federal, deferred	19,934	(3,330)	16,167
Foreign, deferred	(4,520)	(1,127)	(2,832)
State and local (primarily UBT), deferred	(960)		(6,121)
Total deferred	14,454	(4,457)	7,214
Total	$ 51,693	$ 31,100	$ 44,940

Income Taxes - Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%	35.00%
Income of noncontrolling interests	(0.80%)	(2.40%)	(2.00%)
Share-based incentive compensation		7.40%
Foreign source (income) loss not subject to U.S. income tax	(12.70%)	(34.60%)	(13.80%)
Foreign taxes	14.10%	13.50%	8.30%
State and local taxes (primarily UBT)	2.60%	3.40%	0.90%
Change in U.S. federal valuation allowance	(14.90%)	1.40%	(8.30%)
Other, net	0.50%	1.40%	(1.00%)
Effective income tax rate	23.80%	25.10%	19.10%

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Deferred Tax Assets:
Basis adjustments (primarily as a result of the separation and recapitalization transactions that occurred during 2005 and from secondary offerings)	$ 739,059	$ 820,229
Compensation and benefits	250,413	243,564
Net operating loss and tax credit carryforwards	348,433	308,233
Depreciation and amortization	8,169	3,404
Other	58,273	30,626
Gross deferred tax assets	1,404,347	1,406,056
Valuation allowance	(1,225,305)	(1,238,765)
Deferred tax assets (net of valuation allowance)	179,042	167,291
Deferred Tax Liabilities:
Depreciation and amortization	19,296	33,715
Compensation and benefits	30,042	4,292
Goodwill	15,434	15,843
Other	70,394	50,648
Deferred tax liabilities	$ 135,166	$ 104,498

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax [Line Items]
Deferred tax asset pertaining to basis step-up for payments made under the tax receivable agreement	$ 5,942	$ 6,694
Valuation allowance amount	1,225,305	1,238,765
Net decrease in valuation allowance	13,460
Valuation allowance charged to income tax expense	13,375
Valuation allowance charged to stockholders' equity	22,010
Valuation allowance credited to income tax expense	48,845
Indefinite-lived net operating loss and tax credit carryforwards	74,619
Net operating loss and tax credit carryforwards	$ 266,243
Operating loss and tax credit carryforwards begin to expire	2029
Deferred tax assets pertaining to tax deductions related to equity compensation in excess of compensation recognized for financial reporting	$ 30,200	19,900
Amount of deferred tax assets for unrecognized tax benefits recorded	8,600
Basis step-up assets	652,000
Net operating losses due to amortization of step-up assets	257,000
Provision (benefit) pursuant to tax receivable agreement	$ 1,249	0	$ 429
LFCM Holdings [Member]
Income Tax [Line Items]
Percentage of cash savings required to pay under the tax receivable agreement	85.00%
Tax Basis Step-Up on Certain U.K. Assets [Member]
Income Tax [Line Items]
Deferred tax asset basis adjustments on certain U.K. assets	$ 6,538	16,083
Separation and Recapitalization [Member]
Income Tax [Line Items]
Basis adjustments relating to deferred tax assets for purchases and redemptions of historical and working members interests	123,027	158,459
Exchangeable Interests and Secondary Offerings [Member]
Income Tax [Line Items]
Deferred tax asset basis adjustments as a resulting from exchange of exchangeable interests and secondary offerings	$ 603,552	$ 638,993

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Balance, January 1 (excluding interest and penalties of $14,799, $8,454 and $7,099, respectively)	$ 55,947	$ 62,200	$ 58,605
Increases in gross unrecognized tax benefits relating to tax positions taken during prior years	417	1,393	1,081
Increases in gross unrecognized tax benefits relating to tax positions taken during current years	17,596	19,690	16,928
Tax positions taken during prior years	(385)	(5,397)	(5,133)
Settlements with tax authorities	(5,587)	(12,077)
Lapse of the applicable statute of limitations	(5,083)	(9,862)	(9,281)
Balance, December 31 (excluding interest and penalties of $12,200, $14,799 and $8,454, respectively)	$ 62,905	$ 55,947	$ 62,200

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Beginning balance, interest and penalties	$ 14,799	$ 8,454	$ 7,099
Ending balance, interest and penalties	$ 12,200	$ 14,799	$ 8,454

Income Taxes - Schedule of Additional Information Relating to Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $12,200, $14,799 and $8,454, respectively)	$ 36,272	$ 44,452	$ 44,545
Offset to deferred tax assets for unrecognized tax benefits that, if recognized, would not affect the effective tax rate	38,833	26,294	26,109
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $7,326, $3,130 and $1,785, respectively)	$ (2,599)	$ 6,345	$ 1,355

Income Taxes - Schedule of Additional Information Relating to Unrecognized Tax Benefits (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Interest and penalties	$ 12,200	$ 14,799	$ 8,454
Reversal of interest and penalties	$ 7,326	$ 3,130	$ 1,785

Net Income Per Share of Class A Common Stock - Company's Basic and Diluted Net Income Per Share and Weighted Average Shares Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Earnings Per Share [Abstract]
Net income attributable to Lazard Ltd	$ 53,217	$ 60,282	$ 31,353	$ 15,360	$ (5,365)	$ 33,301	$ 30,821	$ 25,552	$ 160,212	$ 84,309	$ 174,917
Add (deduct) - adjustment associated with Class A common stock issuable on a non-contingent basis										7	284
Net income attributable to Lazard Ltd - basic									160,212	84,316	175,201
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, convertible preferred stock and exchangeable interests, net of tax									1,065	371	12,512
Net income attributable to Lazard Ltd - diluted									$ 161,277	$ 84,687	$ 187,713
Weighted average number of shares of Class A common stock outstanding									120,096,305	116,163,821	115,005,676
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis									757,962	790,168	3,026,344
Weighted average number of shares of Class A common stock outstanding - basic									120,854,267	116,953,989	118,032,020
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation, convertible debt, convertible preferred stock and exchangeable interests									12,882,812	12,371,633	19,597,505
Weighted average number of shares of Class A common stock outstanding - diluted									133,737,079	129,325,622	137,629,525
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$ 0.44	$ 0.49	$ 0.26	$ 0.13	$ (0.05)	$ 0.29	$ 0.26	$ 0.21	$ 1.33	$ 0.72	$ 1.48
Diluted	$ 0.40	$ 0.45	$ 0.24	$ 0.12	$ (0.05)	$ 0.26	$ 0.24	$ 0.20	$ 1.21	$ 0.65	$ 1.36

Related Parties - Amounts Receivable from and Payable to Related Parties (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
Amounts receivables from related parties	$ 7,920	$ 23,801
Amounts payables to related parties	5,031	3,648
LFCM Holdings [Member]
Related Party Transaction [Line Items]
Amounts receivables from related parties	7,794	20,529
Amounts payables to related parties	4,300	2,943
Other [Member]
Related Party Transaction [Line Items]
Amounts receivables from related parties	126	3,272
Amounts payables to related parties	$ 731	$ 705

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2009	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 15, 2009	May 31, 2005
Related Party Transaction [Line Items]
Days notice of termination			180 days
Administrative Services Agreement [Member]
Related Party Transaction [Line Items]
Transaction agreement date			May 10, 2005
Employee Benefits Agreement [Member]
Related Party Transaction [Line Items]
Transaction agreement date			May 10, 2005
Master Separation Agreement [Member]
Related Party Transaction [Line Items]
Transaction agreement date			May 10, 2005
Business Alliance Agreement [Member]
Related Party Transaction [Line Items]
Transaction agreement date			May 10, 2005
LAI Holdings [Member]
Related Party Transaction [Line Items]
Write-off of acquired option capitalized cost		$ 5,500
MBA Lazard Holdings S.A. [Member]
Related Party Transaction [Line Items]
Percentage of ownership		50.00%	50.00%	50.00%	50.00%
Referral fees for restructuring transactions			$ (2,221)	$ 1,506	$ 1,866
North American Fund Management Activities [Member]
Related Party Transaction [Line Items]
Business Acquisition - option cost to acquire entity, purchase price							$ 8,000
Prepaid option excise price	$ 5,500
Exercisable price for North American activities	$ 2,500
Date the remaining option to purchase North American fund management is exercisable	May 10, 2014
European Fund Management Activities [Member]
Related Party Transaction [Line Items]
Business Acquisition - option cost to acquire entity, purchase price							$ 2,000
Business acquisition, cost of acquired entity, exercised price						$ 2,000
LAZ-MD Holdings [Member] \| Administrative Services Agreement [Member]
Related Party Transaction [Line Items]
Amounts recorded relating to the administrative services agreement			$ 1,000	1,000	750
Administrative services agreement date			Dec. 31, 2014
LFCM Holdings [Member]
Related Party Transaction [Line Items]
Amounts recorded relating to the administrative services agreement			$ 1,456	7,637	10,277
Amounts recorded relating to net referral fees for underwriting, private placement, and restructuring transactions			(1,646)	5,947	$ 18,862
Payable pursuant to the tax receivable agreement			1,249
LFCM Holdings [Member] \| Administrative and Support Services and Others [Member]
Related Party Transaction [Line Items]
Receivables from related party			3,112	14,299
LFCM Holdings [Member] \| Referral Fees for Underwriting and Private Placement Transactions [Member]
Related Party Transaction [Line Items]
Receivables from related party			4,682	6,230
LFCM Holdings [Member] \| Referral Fees [Member]
Related Party Transaction [Line Items]
Payables to related party			$ 3,051	$ 2,943

Regulatory Authorities - Additional Information (Detail) $ in Thousands	Dec. 31, 2013 USD ($)
LFNY [Member]
Regulatory Requirements [Line Items]
Specified fixed percentage, minimum required capital	6.67%
Minimum net capital requirement as defined under securities exchange act	$ 100
Regulatory net capital	110,317
Regulatory capital in excess of minimum requirement	106,944
U.K. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory net capital	77,786
Regulatory capital in excess of minimum requirement	63,349
CFLF [Member]
Regulatory Requirements [Line Items]
Regulatory net capital	196,109
Regulatory capital in excess of minimum requirement	162,915
Other U.S. and Non-U.S. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory net capital	113,118
Regulatory capital in excess of minimum requirement	$ 78,848

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenue [Member]
Segment Reporting Information [Line Items]
Individual clients did not constitute more than a specific percentage of net revenue	10.00%	10.00%	10.00%

Segment Information - Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Net Revenue (Expense)	$ 612,690	$ 480,354	$ 490,405	$ 401,903	$ 560,693	$ 428,806	$ 436,910	$ 486,039	$ 1,985,352	$ 1,912,448	$ 1,829,512
Operating Expenses	539,536	399,236	449,467	380,306	565,890	382,080	392,377	448,216	1,768,545	1,788,563	1,594,013
Operating Income (Loss)	73,154	$ 81,118	$ 40,938	$ 21,597	(5,197)	$ 46,726	$ 44,533	$ 37,823	216,807	123,885	235,499
Total Assets	3,011,137				2,986,893				3,011,137	2,986,893	3,081,936
Financial Advisory [Member]
Segment Reporting Information [Line Items]
Net Revenue (Expense)									980,577	1,049,090	992,107
Operating Expenses									959,668	1,057,620	929,688
Operating Income (Loss)									20,909	(8,530)	62,419
Total Assets	714,708				793,007				714,708	793,007	767,699
Asset Management [Member]
Segment Reporting Information [Line Items]
Net Revenue (Expense)									1,039,130	896,260	897,401
Operating Expenses									704,045	659,502	628,945
Operating Income (Loss)									335,085	236,758	268,456
Total Assets	612,018				566,677				612,018	566,677	583,524
Corporate [Member]
Segment Reporting Information [Line Items]
Net Revenue (Expense)									(34,355)	(32,902)	(59,996)
Operating Expenses									104,832	71,441	35,380
Operating Income (Loss)									(139,187)	(104,343)	(95,376)
Total Assets	$ 1,684,411				$ 1,627,209				$ 1,684,411	$ 1,627,209	$ 1,730,713

Segment Information - Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Depreciation and amortization of property	$ 34,750	$ 30,855	$ 24,580
Financial Advisory [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization of property	5,256	5,710	6,739
Asset Management [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization of property	2,556	3,250	3,502
Corporate [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization of property	$ 26,938	$ 21,895	$ 14,339

Segment Information - Schedule of Revenue from External Customers and Identifiable Assets, by Geographical Areas (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 612,690	$ 480,354	$ 490,405	$ 401,903	$ 560,693	$ 428,806	$ 436,910	$ 486,039	$ 1,985,352	$ 1,912,448	$ 1,829,512
Operating Income (Loss)	73,154	$ 81,118	$ 40,938	$ 21,597	(5,197)	$ 46,726	$ 44,533	$ 37,823	216,807	123,885	235,499
Identifiable Assets	3,011,137				2,986,893				3,011,137	2,986,893	3,081,936
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									1,217,014	1,172,566	1,083,457
Operating Income (Loss)									234,247	169,111	209,236
Identifiable Assets	1,529,695				1,507,331				1,529,695	1,507,331	1,630,547
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									205,695	180,784	190,307
Operating Income (Loss)									(6,474)	(37,329)	(18,074)
Identifiable Assets	239,606				226,578				239,606	226,578	253,365
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									281,740	265,523	234,441
Operating Income (Loss)									14,845	8,332	8,262
Identifiable Assets	824,712				808,655				824,712	808,655	773,196
Other Western Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									123,975	132,754	174,284
Operating Income (Loss)									(8,260)	(20,812)	27,276
Identifiable Assets	118,939				114,763				118,939	114,763	116,682
Rest of World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									156,928	160,821	147,023
Operating Income (Loss)									(17,551)	4,583	8,799
Identifiable Assets	$ 298,185				$ 329,566				$ 298,185	$ 329,566	$ 308,146

Supplemental Financial Information - Quarterly Results - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Selected Quarterly Financial Information [Abstract]
Net revenue	$ 612,690	$ 480,354	$ 490,405	$ 401,903	$ 560,693	$ 428,806	$ 436,910	$ 486,039	$ 1,985,352	$ 1,912,448	$ 1,829,512
Operating Expenses	539,536	399,236	449,467	380,306	565,890	382,080	392,377	448,216	1,768,545	1,788,563	1,594,013
Operating Income (Loss)	73,154	81,118	40,938	21,597	(5,197)	46,726	44,533	37,823	216,807	123,885	235,499
Net income (loss)	52,796	62,748	31,921	17,649	(4,106)	33,673	34,162	29,056	165,114	92,785	190,559
Less - net income (loss) attributable to noncontrolling interests	(421)	2,466	568	2,289	1,259	372	3,341	3,504	4,902	8,476	15,642
Net income (loss) attributable to Lazard Ltd	$ 53,217	$ 60,282	$ 31,353	$ 15,360	$ (5,365)	$ 33,301	$ 30,821	$ 25,552	$ 160,212	$ 84,309	$ 174,917
Net income (loss) per share of common stock:
Basic	$ 0.44	$ 0.49	$ 0.26	$ 0.13	$ (0.05)	$ 0.29	$ 0.26	$ 0.21	$ 1.33	$ 0.72	$ 1.48
Diluted	0.40	0.45	0.24	0.12	(0.05)	0.26	0.24	0.20	1.21	0.65	1.36
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 0.50	$ 0.25	$ 0.25		$ 0.60	$ 0.20	$ 0.20	$ 0.16	$ 1.000	$ 1.160	$ 0.605

Schedule I - Condensed Statements of Financial Condition (Parent Company Only) (Detail) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 841,482	$ 850,190	$ 1,003,791	$ 1,209,695
Investments in subsidiaries, equity method	9,488	7,012
Other assets	259,277	268,406
Total Assets	3,011,137	2,986,893	3,081,936
Liabilities:
Other liabilities	513,427	499,651
Total Liabilities	2,381,139	2,335,353
Commitments and contingencies
Common stock:
Additional paid-in-capital	737,899	846,050
Retained earnings	203,236	182,647
Accumulated other comprehensive loss, net of tax	(133,004)	(110,541)
Total Stockholders' Equity	560,209	569,656
Total Liabilities and Stockholders' Equity	3,011,137	2,986,893
Series A Preferred Stock [Member]
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Preferred stock
Series B Preferred Stock [Member]
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Preferred stock
Class A Common Stock [Member]
Common stock:
Common stock	1,291	1,282
Class A common stock held by subsidiaries, at cost	(249,213)	(349,782)
Class B Common Stock [Member]
Common stock:
Common stock
Parent Company [Member]
ASSETS
Cash and cash equivalents	688	298	$ 218	$ 210
Investments in subsidiaries, equity method	(1,818,211)	(1,852,072)
Due from subsidiaries	2,379,308	2,421,780
Other assets	4
Total Assets	561,789	570,006
Liabilities:
Due to subsidiaries	1,488	254
Other liabilities	92	96
Total Liabilities	1,580	350
Commitments and contingencies
Common stock:
Additional paid-in-capital	737,899	846,050
Retained earnings	203,236	182,647
Accumulated other comprehensive loss, net of tax	(133,004)	(110,541)
Stockholders' equity subtotal before common stock held by subsidiary and Noncontrolling Interests, total	809,422	919,438
Class A common stock held by subsidiaries, at cost	(249,213)	(349,782)
Total Stockholders' Equity	560,209	569,656
Total Liabilities and Stockholders' Equity	561,789	570,006
Parent Company [Member] \| Series A Preferred Stock [Member]
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Preferred stock
Parent Company [Member] \| Series B Preferred Stock [Member]
Preferred stock, par value $.01 per share; 15,000,000 shares authorized:
Preferred stock
Parent Company [Member] \| Class A Common Stock [Member]
Common stock:
Common stock	1,291	1,282
Parent Company [Member] \| Class B Common Stock [Member]
Common stock:
Common stock

Schedule I - Condensed Statements of Financial Condition (Parent Company Only) (Parenthetical) (Detail) - $ / shares	Dec. 31, 2013	Dec. 31, 2012
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Series A Preferred Stock [Member]
Preferred stock, shares issued	7,921	7,921
Preferred stock, shares outstanding	7,921	7,921
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	129,056,081	128,216,423
Class B Common Stock [Member]
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
Parent Company [Member] \| Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	7,921	7,921
Preferred stock, shares outstanding	7,921	7,921
Parent Company [Member] \| Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	129,056,081	128,216,423
Common stock held by subsidiaries, shares	8,317,065	12,802,938
Parent Company [Member] \| Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1	1
Common stock, shares issued	1	1
Common stock, shares outstanding	1	1

Schedule I - Condensed Statements of Operations (Parent Company Only) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUE
Total revenue									$ 2,064,733	$ 1,994,013	$ 1,919,638
OPERATING EXPENSES
Professional services									42,663	43,958	48,324
Other									81,507	38,099	39,715
Total operating expenses	$ 539,536	$ 399,236	$ 449,467	$ 380,306	$ 565,890	$ 382,080	$ 392,377	$ 448,216	1,768,545	1,788,563	1,594,013
NET INCOME	$ 52,796	$ 62,748	$ 31,921	$ 17,649	$ (4,106)	$ 33,673	$ 34,162	$ 29,056	165,114	92,785	190,559
Parent Company [Member]
REVENUE
Equity in earnings of subsidiaries									103,769	20,598	109,294
Interest and other income									58,227	65,319	67,042
Total revenue									161,996	85,917	176,336
OPERATING EXPENSES
Professional services									1,662	1,477	1,276
Other									122	131	143
Total operating expenses									1,784	1,608	1,419
NET INCOME									$ 160,212	$ 84,309	$ 174,917

Schedule I - Condensed Statements of Comprehensive Income (Parent Company Only) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
NET INCOME	$ 52,796	$ 62,748	$ 31,921	$ 17,649	$ (4,106)	$ 33,673	$ 34,162	$ 29,056	$ 165,114	$ 92,785	$ 190,559
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments									(15,536)	15,686	(9,474)
Amortization of interest rate hedge									2,502	1,055	1,054
Employee benefit plans:
Actuarial loss, net of tax benefit									(13,500)	(40,298)	(38,248)
OTHER COMPREHENSIVE LOSS, NET OF TAX									(21,929)	(19,158)	(44,462)
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD LTD									138,416	65,312	132,992
Parent Company [Member]
NET INCOME									160,212	84,309	174,917
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments									(15,438)	15,431	(8,760)
Amortization of interest rate hedge									2,488	1,042	1,000
Employee benefit plans:
Actuarial loss, net of tax benefit									(13,426)	(39,817)	(36,256)
Adjustments for items reclassified to earnings, net of tax expense									4,580	4,347	2,091
OTHER COMPREHENSIVE LOSS, NET OF TAX									(21,796)	(18,997)	(41,925)
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD LTD									$ 138,416	$ 65,312	$ 132,992

Schedule I - Condensed Statements of Comprehensive Income (Parent Company Only) (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Tax benefit on actuarial loss, employee benefit plans	$ 6,388	$ 12,950	$ 12,526
Parent Company [Member]
Tax benefit on actuarial loss, employee benefit plans	6,353	12,796	11,874
Tax expense associated with adjustment for item reclassified to earnings, employee benefit plans	$ 1,918	$ 1,131	$ 977

Schedule I - Condensed Statements of Cash Flows (Parent Company Only) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME	$ 52,796	$ 62,748	$ 31,921	$ 17,649	$ (4,106)	$ 33,673	$ 34,162	$ 29,056	$ 165,114	$ 92,785	$ 190,559
Adjustments to reconcile net income to net cash provided by operating activities:
Net cash provided by operating activities									526,697	481,908	397,802
CASH FLOWS FROM FINANCING ACTIVITIES:
Class A common stock dividends									(121,620)	(135,108)	(70,572)
Net cash used in financing activities									(487,072)	(563,220)	(552,359)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS									(8,708)	(153,601)	(205,904)
CASH AND CASH EQUIVALENTS-January 1				850,190				1,003,791	850,190	1,003,791	1,209,695
CASH AND CASH EQUIVALENTS-December 31	841,482				850,190				841,482	850,190	1,003,791
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Class A common stock issued/issuable in connection with business acquisitions											39,654
Parent Company [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME									160,212	84,309	174,917
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries									(103,769)	(20,598)	(109,294)
Changes in due to/from subsidiaries									65,574	71,566	4,945
Changes in other operating assets and liabilities									(7)	(89)	12
Net cash provided by operating activities									122,010	135,188	70,580
CASH FLOWS FROM FINANCING ACTIVITIES:
Class A common stock dividends									(121,620)	(135,108)	(70,572)
Net cash used in financing activities									(121,620)	(135,108)	(70,572)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS									390	80	8
CASH AND CASH EQUIVALENTS-January 1				$ 298				$ 218	298	218	210
CASH AND CASH EQUIVALENTS-December 31	$ 688				$ 298				688	298	218
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Class A common stock issued/issuable in connection with business acquisitions											$ 39,654

Label	Element	Value
Lazard Group [Member]
Common Membership Interest Issued	laz_CommonMembershipInterestIssued	129,766,090
Lazard Limited [Member]
Common Membership Interest Issued	laz_CommonMembershipInterestIssued	123,009,311
Common Membership Interest Ownership Percentage	laz_CommonMembershipInterestOwnershipPercentage	94.80%
Laz Md Holdings [Member]
Common Membership Interest Issued	laz_CommonMembershipInterestIssued	6,756,779
Common Membership Interest Ownership Percentage	laz_CommonMembershipInterestOwnershipPercentage	5.20%

Cost Saving Initiatives - Schedule of Expenses and Cumulative Expenses Associated With Implementation of Cost Savings Initiatives (Detail) - USD ($) $ in Thousands	12 Months Ended	15 Months Ended
	Dec. 31, 2013	Dec. 31, 2013
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	$ 64,703
Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	51,399
Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	13,304
Cumulative [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		$ 167,279
Cumulative [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		151,386
Cumulative [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		15,893
Operating Segments [Member] \| Financial Advisory [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	47,779
Operating Segments [Member] \| Financial Advisory [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	45,746
Operating Segments [Member] \| Financial Advisory [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	2,033
Operating Segments [Member] \| Asset Management [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	235
Operating Segments [Member] \| Asset Management [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	236
Operating Segments [Member] \| Asset Management [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	(1)
Operating Segments [Member] \| Corporate [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	16,689
Operating Segments [Member] \| Corporate [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	5,417
Operating Segments [Member] \| Corporate [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives	$ 11,272
Operating Segments [Member] \| Cumulative [Member] \| Financial Advisory [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		125,311
Operating Segments [Member] \| Cumulative [Member] \| Financial Advisory [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		121,879
Operating Segments [Member] \| Cumulative [Member] \| Financial Advisory [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		3,432
Operating Segments [Member] \| Cumulative [Member] \| Asset Management [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		13,024
Operating Segments [Member] \| Cumulative [Member] \| Asset Management [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		12,292
Operating Segments [Member] \| Cumulative [Member] \| Asset Management [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		732
Operating Segments [Member] \| Cumulative [Member] \| Corporate [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		28,944
Operating Segments [Member] \| Cumulative [Member] \| Corporate [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		17,215
Operating Segments [Member] \| Cumulative [Member] \| Corporate [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Cost Saving Initiatives		$ 11,729