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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2016	Jul. 22, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Trading Symbol	LAZ
Entity Registrant Name	LAZARD LTD
Entity Central Index Key	0001311370
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		129,766,091
Class A Common Stock [Member] \| Subsidiaries of Lazard Ltd [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,545,541

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 646,454	$ 1,132,083
Deposits with banks and short-term investments	667,313	389,861
Cash deposited with clearing organizations and other segregated cash	33,522	34,948
Receivables (net of allowance for doubtful accounts of $13,569 and $12,882 at June 30, 2016 and December 31, 2015, respectively):
Fees	402,986	423,817
Customers and other	92,330	73,396
Total receivables, net	495,316	497,213
Investments	491,346	541,911
Property (net of accumulated amortization and depreciation of $282,732 and $265,506 at June 30, 2016 and December 31, 2015, respectively)	201,929	207,165
Goodwill and other intangible assets (net of accumulated amortization of $58,534 and $57,561 at June 30, 2016 and December 31, 2015, respectively)	328,181	326,976
Deferred tax assets	1,123,369	1,130,595
Other assets	228,191	217,022
Total Assets	4,215,621	4,477,774
Liabilities:
Deposits and other customer payables	721,171	506,665
Accrued compensation and benefits	270,468	570,409
Senior debt	990,111	989,358
Deferred tax liabilities	10,046	11,104
Capital lease obligations	8,391	9,028
Other liabilities	497,467	499,942
Total Liabilities	3,011,277	3,110,468
Commitments and contingencies
Common stock:
Additional paid-in-capital	569,154	600,034
Retained earnings	998,132	1,123,728
Accumulated other comprehensive loss, net of tax	(237,030)	(234,356)
Stockholders' equity subtotal before common stock held by subsidiary and Noncontrolling interests, total	1,331,554	1,490,704
Total Lazard Ltd Stockholders' Equity	1,146,201	1,313,455
Noncontrolling interests	58,143	53,851
Total Stockholders' Equity	1,204,344	1,367,306
Total Liabilities and Stockholders' Equity	4,215,621	4,477,774
LTBP Trust [Member]
Liabilities:
Tax receivable agreement obligation	513,623	523,962
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:
Class A, par value $.01 per share (500,000,000 shares authorized; 129,766,091 shares issued at June 30, 2016 and December 31, 2015, including shares held by subsidiaries as indicated below)	1,298	1,298
Class A common stock held by subsidiaries, at cost (5,210,619 and 4,253,381 shares at June 30, 2016 and December 31, 2015, respectively)	$ (185,353)	$ (177,249)

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Allowance for doubtful accounts receivables	$ 13,569	$ 12,882
Property, accumulated amortization and depreciation	282,732	265,506
Goodwill and other intangible assets, accumulated amortization	$ 58,534	$ 57,561
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	129,766,091	129,766,091
Common stock, shares outstanding	129,766,091	129,766,091
Common stock held by subsidiaries, shares	5,210,619	4,253,381

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUE
Investment banking and other advisory fees	$ 286,609	$ 314,277	$ 551,752	$ 615,649
Asset management fees	241,397	268,754	475,128	530,709
Interest income	1,168	1,362	2,540	2,291
Other	17,468	36,196	27,338	65,825
Total revenue	546,642	620,589	1,056,758	1,214,474
Interest expense	11,962	11,497	23,860	27,633
Net revenue	534,680	609,092	1,032,898	1,186,841
OPERATING EXPENSES
Compensation and benefits	308,310	336,719	605,520	665,221
Occupancy and equipment	27,163	27,272	54,170	54,611
Marketing and business development	23,877	18,324	43,565	37,514
Technology and information services	24,296	23,034	47,227	45,927
Professional services	11,245	13,883	21,007	25,342
Fund administration and outsourced services	15,895	17,493	29,330	33,641
Amortization of intangible assets related to acquisitions	330	1,857	974	2,890
Provision pursuant to tax receivable agreement		961,948		968,483
Other	10,328	9,938	19,492	79,925
Total operating expenses	421,444	1,410,468	821,285	1,913,554
OPERATING INCOME (LOSS)	113,236	(801,376)	211,613	(726,713)
Provision (benefit) for income taxes	31,872	(1,176,531)	59,526	(1,164,514)
NET INCOME	81,364	375,155	152,087	437,801
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	1,007	1,042	4,907	7,735
NET INCOME ATTRIBUTABLE TO LAZARD LTD	$ 80,357	$ 374,113	$ 147,180	$ 430,066
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic	125,461,948	126,212,645	125,751,195	124,934,167
Diluted	132,341,522	132,806,045	132,616,403	133,270,996
NET INCOME PER SHARE OF COMMON STOCK:
Basic	$ 0.64	$ 2.96	$ 1.17	$ 3.44
Diluted	0.61	2.82	1.11	3.23
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 0.38	$ 0.35	$ 1.93	$ 1.65

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 81,364	$ 375,155	$ 152,087	$ 437,801
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments (including a tax benefit of $1,723 for the three months ended June 30, 2016 and $2,869 for the six months ended June 30, 2016)	(16,104)	11,791	(4,365)	(22,342)
Employee benefit plans:
Actuarial loss (net of tax benefit of $228 and $8,121 for the three months ended June 30, 2016 and 2015, respectively, and $298 and $8,006 for the six months ended June 30, 2016 and 2015, respectively)	(475)	(14,836)	(616)	(14,617)
Adjustment for items reclassified to earnings (net of tax expense of $403 and $538 for the three months ended June 30, 2016 and 2015, respectively, and $796 and $1,101 for the six months ended June 30, 2016 and 2015, respectively)	1,121	1,190	2,307	2,376
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(15,458)	(1,855)	(2,674)	(34,583)
COMPREHENSIVE INCOME	65,906	373,300	149,413	403,218
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	1,007	1,042	4,907	7,735
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD LTD	$ 64,899	$ 372,258	$ 144,506	$ 395,483

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Currency translation adjustments, tax benefit	$ 1,723		$ 2,869
Tax benefit on actuarial loss, employee benefit plans	228	$ 8,121	298	$ 8,006
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 403	$ 538	$ 796	$ 1,101

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME	$ 152,087	$ 437,801
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property	16,630	15,900
Amortization of deferred expenses and share-based incentive compensation	199,217	171,397
Amortization of intangible assets related to acquisitions	974	2,890
Deferred tax provision (benefit)	25,159	(1,195,319)
Provision pursuant to tax receivable agreement		968,483
Loss on extinguishment of debt		60,219
Gain on disposal of subsidiaries		(24,388)
(Increase) decrease in operating assets:
Deposits with banks and short-term investments	(271,010)	(95,877)
Cash deposited with clearing organizations and other segregated cash	1,697	8,438
Receivables-net	120	39,023
Investments	51,342	52,674
Other assets	(52,586)	(97,621)
Increase (decrease) in operating liabilities:
Deposits and other payables	207,503	81,574
Accrued compensation and benefits and other liabilities	(312,862)	(213,892)
Net cash provided by operating activities	18,271	211,302
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(11,118)	(13,438)
Disposals of property	159	336
Net cash used in investing activities	(10,959)	(13,102)
Proceeds from:
Contributions from noncontrolling interests	93	57
Issuance of senior debt, net of expenses		396,272
Excess tax benefits from share-based incentive compensation	2,340	9,516
Other financing activities	8,004
Payments for:
Senior debt		(509,098)
Capital lease obligations	(835)	(1,019)
Distributions to noncontrolling interests	(708)	(11,940)
Payments under tax receivable agreement	(10,086)
Purchase of Class A common stock	(194,729)	(117,733)
Class A common stock dividends	(242,085)	(202,635)
Settlement of vested share-based incentive compensation	(54,164)	(102,634)
Other financing activities	(2,327)	(1,624)
Net cash used in financing activities	(494,497)	(540,838)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	1,556	(22,770)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(485,629)	(365,408)
CASH AND CASH EQUIVALENTS-January 1	1,132,083	1,066,580
CASH AND CASH EQUIVALENTS-June 30	$ 646,454	$ 701,172

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	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]	Series A Preferred Stock [Member]
Balance at Dec. 31, 2014	$ 770,057	$ 1,298	$ 702,800	$ 464,655	$ (200,766)	$ (261,243)	$ 706,744	$ 63,313
Balance (in shares) at Dec. 31, 2014		129,766,091				7,450,745			7,921
Comprehensive income (loss):
NET INCOME	437,801			430,066			430,066	7,735
Other comprehensive loss - net of tax	(34,583)				(34,583)		(34,583)
Amortization of share-based incentive compensation	122,793		122,793				122,793
Dividend-equivalents	(1,624)		26,461	(28,085)			(1,624)
Class A common stock dividends	(202,635)			(202,635)			(202,635)
Purchase of Class A common stock	(117,733)					$ (117,733)	(117,733)
Purchase of Class A common stock (in shares)						2,306,694
Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefit	(93,139)		(323,588)			$ 230,449	(93,139)
Delivery of Class A common stock in connection with shared-based incentive compensation and related tax benefit (in shares)						(6,051,262)
Business acquisitions and related equity transactions:
Class A common stock issuable (including related amortization)	315		315				315
Delivery of Class A common stock and related tax benefit			(1,327)			$ 1,327
Delivery of Class A common stock and related tax benefit (in shares)						(27,316)
Distributions to noncontrolling interests, net	(11,883)							(11,883)
Balance at Jun. 30, 2015	869,369	$ 1,298	527,454	664,001	(235,349)	$ (147,200)	810,204	59,165
Balance (in shares) at Jun. 30, 2015		129,766,091				3,678,861			7,921
Balance at Dec. 31, 2015	1,367,306	$ 1,298	600,034	1,123,728	(234,356)	$ (177,249)	1,313,455	53,851
Balance (in shares) at Dec. 31, 2015		129,766,091				4,253,381			7,921
Comprehensive income (loss):
NET INCOME	152,087			147,180			147,180	4,907
Other comprehensive loss - net of tax	(2,674)				(2,674)		(2,674)
Amortization of share-based incentive compensation	155,325		155,325				155,325
Dividend-equivalents	(2,327)		28,364	(30,691)			(2,327)
Class A common stock dividends	(242,085)			(242,085)			(242,085)
Purchase of Class A common stock	(194,729)					$ (194,729)	(194,729)
Purchase of Class A common stock (in shares)						5,646,092
Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefit	(47,074)		(203,406)			$ 156,332	(47,074)
Delivery of Class A common stock in connection with shared-based incentive compensation and related tax benefit (in shares)						(3,889,417)
Business acquisitions and related equity transactions:
Delivery of Class A common stock and related tax benefit	11,126		(19,167)			$ 30,293	11,126
Delivery of Class A common stock and related tax benefit (in shares)						(799,437)
Distributions to noncontrolling interests, net	(615)							(615)
Other	8,004		8,004				8,004
Balance at Jun. 30, 2016	$ 1,204,344	$ 1,298	$ 569,154	$ 998,132	$ (237,030)	$ (185,353)	$ 1,146,201	$ 58,143
Balance (in shares) at Jun. 30, 2016		129,766,091				5,210,619			7,921

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Stockholders' Equity [Abstract]
Tax benefit related to delivery of Class A Common Stock in connection with share-based incentive compensation	$ 7,090	$ 9,495
Tax benefit related to delivery of Class A Common Stock	$ 11,126

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [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 100% of all outstanding Lazard Group common membership interests as of June 30, 2016 and December 31, 2015. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group, which is governed by an Amended and Restated Operating Agreement dated as of October 26, 2015 (the “Operating Agreement”).

Lazard Ltd’s primary operating asset is its indirect ownership of the common membership interests of, and managing member interests in, 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, corporate preparedness and various other financial matters, and

•

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

In addition, we record selected other activities in our Corporate segment, including management of cash, investments, deferred tax assets, outstanding indebtedness and assets and liabilities associated with Lazard Group’s Paris-based subsidiary Lazard Frères Banque SA (“LFB”).

LFB, as a registered bank, 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 accompanying condensed consolidated financial statements of Lazard Ltd have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard Ltd’s Annual Report on Form 10-K for the year ended December 31, 2015 (the “Form 10-K”). The accompanying December 31, 2015 unaudited condensed consolidated statement of financial condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented.

Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. For example, discretionary compensation and benefits expense for interim periods is accrued based on the year-to-date amount of revenue earned, and an assumed annual ratio of compensation and benefits expense to revenue, with the applicable amounts adjusted for certain items. Although these estimates are based on management’s knowledge of current events and actions that Lazard may undertake in the future, actual results may differ materially from the estimates.

The consolidated results of operations for the three month and six month periods ended June 30, 2016 are not indicative of the results to be expected for any future interim or annual period.

The condensed consolidated financial statements include Lazard Ltd, Lazard Group and Lazard Group’s principal operating subsidiaries: Lazard Frères & Co. LLC (“LFNY”), a New York limited liability company, along with its subsidiaries, including Lazard Asset Management LLC and its subsidiaries (collectively referred to as “LAM”); the French limited liability companies Compagnie Financière Lazard Frères SAS (“CFLF”) along with its subsidiaries, LFB and LFG, and Maison Lazard SAS and its subsidiaries; and Lazard & Co., Limited (“LCL”), through Lazard & Co., Holdings Limited (“LCH”), an English private limited company, together with their jointly owned affiliates and subsidiaries.

The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates:

•

Voting interest entities (“VOEs”) where the Company holds a majority of the voting interest in such VOEs and,

•

Variable interest entities (“VIEs”) where the Company is the primary beneficiary having the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of, or receive benefits from, the VIE that could be potentially significant to the VIE.

When the Company does not have a controlling interest in an entity, but exerts significant influence over such entity’s operating and financial decisions, the Company 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.

Certain prior period amounts have been reclassified to conform to the current period presentation, primarily as a result of the adoption of the current guidance on classification of debt issuance costs and the impact of such guidance on the condensed consolidated statements of financial condition.

Recent Accounting Developments

6 Months Ended

Jun. 30, 2016

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recent Accounting Developments

2.	*RECENT ACCOUNTING DEVELOPMENTS*

Revenue from Contracts with Customers—In May 2014, the Financial Accounting Standards Board (the “FASB”) issued comprehensive new revenue recognition guidance. The guidance requires a company to recognize revenue when it transfers promised services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those services and requires enhanced disclosures. The new guidance is effective for annual and interim periods beginning after December 15, 2016 and early adoption is not permitted. On July 9, 2015, the FASB approved the deferral of the effective date of the new revenue guidance by one year to annual reporting periods beginning after December 15, 2017, with early adoption being permitted for annual periods beginning after December 15, 2016. During 2016, the FASB issued additional clarifications for certain aspects of the new revenue recognition guidance. The Company is currently evaluating the new guidance.

Amendments to the Consolidation Analysis—In February 2015, the FASB issued updated guidance for the consolidation of certain legal entities. The updated guidance eliminates the deferral of certain consolidation standards for entities considered to be investment companies and modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or VOEs. The new guidance is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The Company adopted this guidance using the modified retrospective method with an effective adoption date of January 1, 2016. The adoption of this guidance did not have a material impact on our consolidated financial statements or related disclosures.

Interest—Imputation of Interest—In April 2015, the FASB issued updated guidance which requires a company to classify debt issuance costs related to a recognized debt liability in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, with early adoption permitted and is to be applied on a retrospective basis. The adoption of this guidance by the Company in the first quarter of 2016 resulted in a reclassification as of December 31, 2015 of $8,992 from “other assets” to “senior debt” on our condensed consolidated statements of financial condition.

Intangibles—Goodwill and Other—Internal-Use Software: Customers Accounting for Fees Paid in a Cloud Computing Arrangement—In April 2015, the FASB issued updated guidance providing clarification on whether a cloud computing arrangement that contains a software license should be accounted for as internal-use software. The new guidance is effective for annual and interim periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance by the Company in the first quarter of 2016 did not have a material impact on our consolidated financial statements.

Fair Value Measurement—In May 2015, the FASB issued updated guidance for the classification and disclosure of certain investments using the net asset value (“NAV”) as a practical expedient to measure the fair value of the investment. The guidance removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using NAV as a practical expedient. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, with early adoption permitted. The new guidance is to be applied on a retrospective basis. The Company elected to early adopt this guidance in the quarter ended September 30, 2015 and has removed investments that are measured at NAV as a practical expedient from the fair value hierarchy in all periods presented in the consolidated financial statements and related disclosures.

Leases—In February 2016, the FASB issued updated guidance for leases. The guidance requires a lessee to (i) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial condition, (ii) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis, and (iii) classify all cash payments within operating activities in the statement of cash flows. The new guidance is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The new guidance is to be applied on a modified retrospective basis. The Company is currently evaluating the new guidance.

Compensation—Stock Compensation: Improvements to Employee Share-Based Payment Accounting—In March 2016, the FASB issued new guidance regarding equity-based incentive compensation. The new guidance includes several amendments which affect various aspects of the accounting for equity-based incentive compensation transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. The Company is currently evaluating the new guidance.

Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments—In June 2016, the FASB issued new guidance regarding the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology in the current guidance with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The new guidance is effective for annual and interim periods beginning after December 15, 2019 with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the new guidance.

- 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=66092750

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=64853466&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=64853466&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=64853466&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=68064558&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=68064558&loc=d3e725-108305

+ Details

Receivables

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Receivables

3.	*RECEIVABLES*

The Company’s receivables represent fee receivables, amounts due from customers and other receivables.

Receivables are stated net of an estimated allowance for doubtful accounts, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. Activity in the allowance for doubtful accounts for the three month and six month periods ended June 30, 2016 and 2015 was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016			2015
Beginning Balance		$11,230	$	18,459		$12,882		$	23,540
Bad debt expense, net of recoveries		2,065		2,061		2,579			3,293
Charge-offs, foreign currency translation and other adjustments		274		551		(1,892	)		(5,762	)

Ending Balance		$13,569	$	21,071		$13,569		$	21,071

Bad debt expense, net of recoveries is included in “investment banking and other advisory fees” on the condensed consolidated statements of operations.

At June 30, 2016 and December 31, 2015, the Company had receivables past due or deemed uncollectible of $19,839 and $19,923, respectively.

Of the Company’s fee receivables at June 30, 2016 and December 31, 2015, $82,244 and $81,774, 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 $413,072 and $415,439 at June 30, 2016 and December 31, 2015, respectively, approximates fair value.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Investments

6 Months Ended

Jun. 30, 2016

Investments Schedule [Abstract]

Investments

4.	*INVESTMENTS*

The Company’s investments and securities sold, not yet purchased, consist of the following at June 30, 2016 and December 31, 2015:


	June 30, 2016		December 31, 2015
Interest-bearing deposits	$	463	$	54,885

Debt		30,631		535

Equities		48,968		44,834

Funds:
Alternative investments (a)		50,233		67,600
Debt (a)		75,463		67,134
Equity (a)		171,252		197,787
Private equity		105,561		100,219

		402,509		432,740

Equity method		8,775		8,917

Total investments		491,346		541,911
Less:
Interest-bearing deposits		463		54,885
Equity method		8,775		8,917

Investments, at fair value		$482,108	$	478,109

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	33,791	$	3,239

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $15,834, $38,350 and $131,204, respectively, at June 30, 2016 and $10,996, $31,598 and $156,081, respectively, at December 31, 2015, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests (“LFI”) and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 6 and 12).

Interest-bearing deposits have original maturities of greater than three months but equal to or less than one year and are carried at cost that approximates fair value due to their short-term maturities.

Investments in debt securities and securities sold, not yet purchased (included in “other liabilities”) at June 30, 2016 primarily consist of convertible 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.

Alternative investment funds primarily consist of interests in various Lazard-managed hedge funds, funds of funds and mutual funds.

Debt funds primarily consist of seed investments in funds related to our Asset Management business that invest in debt securities, amounts related to LFI discussed above and an investment in a Lazard-managed debt fund.

Equity funds primarily consist of seed investments in funds related to our Asset Management business that invest in equity securities, and amounts related to LFI discussed above.

Private equity investments include those owned by Lazard and those consolidated but not owned by Lazard. Private equity investments owned by Lazard are primarily comprised of investments in private equity funds. Such investments primarily include (i) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a fund primarily making equity and buyout investments in middle market companies, (ii) until the fourth quarter of 2015, Lazard Australia Corporate Opportunities Fund 2 (“COF2”), an Australian fund targeting Australian mid-market investments, (iii) a mezzanine fund, which invests in mezzanine debt of a diversified selection of small- to mid-cap European companies, and (iv) a fund targeting significant noncontrolling-stake investments in established private companies. The Company disposed of its private equity business in Australia in the second quarter of 2015 in a transaction with the management of the disposed business. Revenue of $24,388 relating to the disposal of the business primarily represents the realization of carried interest at fair value and is included in “revenue-other” on the condensed consolidated statements of operations for the three month and six month periods ended June 30, 2015.

Private equity investments consolidated but not owned by Lazard relate to the economic interests that are owned by the management team and other investors in the Edgewater Funds (“Edgewater”).

During the three month and six month periods ended June 30, 2016 and 2015, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to “trading” securities still held as of the reporting date as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net unrealized investment gains (losses)	$	859	$	(3,308)	$	6,174	$	(1,115)

Fair Value Measurements

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

5.	*FAIR VALUE MEASUREMENTS*

Fair Value Hierarchy of Investments and Certain Other Assets and Liabilities—Lazard categorizes its investments and certain other assets and liabilities recorded at fair value into a three-level fair value hierarchy as follows:

Level 1.

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

Level 2.

Assets and liabilities whose values are based on (i) quoted prices for similar assets or liabilities in an active market, or quoted prices for identical or similar assets or liabilities in non-active markets, or (ii) inputs other than quoted prices that are directly observable or derived principally from, or corroborated by, market data.

Level 3.

Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis.

The Company’s investments in debt securities and securities sold, not yet purchased 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 based on inputs that generally can be corroborated by observable market data.

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

The fair value of investments in alternative investment funds, debt funds and equity funds is classified as Level 1 when the fair values are primarily based on the publicly reported closing price for the fund.

The fair value of investments in private equity funds were classified as Level 3 for certain investments that were valued based on a potential transaction value as of June 30, 2015.

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 total return 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 LFI and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. See Note 6.

Investments Measured at Net Asset Value—As a practical expedient, the Company uses NAV or its equivalent to measure the fair value of certain investments. NAV is primarily determined based on information provided by external fund administrators. The Company’s investments valued at NAV as a practical expedient in (i) alternative investment funds, debt funds and equity funds are redeemable in the near term, and (ii) in private equity funds are not redeemable in the near term as a result of redemption restrictions.

The following tables present, as of June 30, 2016 and December 31, 2015, the classification of (i) investments and certain other assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy and (ii) investments measured at NAV or its equivalent as a practical expedient:


	June 30, 2016
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Investments:
Debt	$	–	$	30,631	$	–	$	–	$	30,631
Equities		47,670		–		1,298		–		48,968
Funds:
Alternative investments		27,379				–		22,854		50,233
Debt		75,457		–		–		6		75,463
Equity		171,213		–		–		39		171,252
Private equity		–		–		–		105,561		105,561
Derivatives		–		716		–		–		716

Total	$	321,719	$	31,347	$	1,298	$	128,460	$	482,824

Liabilities:
Securities sold, not yet purchased	$	3,160	$	30,631	$	–	$	–	$	33,791
Derivatives		–		185,893		–		–		185,893

Total	$	3,160	$	216,524	$	–	$	–	$	219,684


	December 31, 2015
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Investments:
Debt	$	535	$	–	$	–	$	–	$	535
Equities		43,558		–		1,276		–		44,834
Funds:
Alternative investments		45,135		–		–		22,465		67,600
Debt		67,128		–		–		6		67,134
Equity		197,745		–		–		42		197,787
Private equity		–		–		–		100,219		100,219
Derivatives		–		1,048		–		–		1,048

Total	$	354,101	$	1,048	$	1,276	$	122,732	$	479,157

Liabilities:
Securities sold, not yet purchased	$	3,239	$	–	$	–	$	–	$	3,239
Derivatives		–		195,689		–		–		195,689

Total	$	3,239	$	195,689	$	–	$	–	$	198,928

(a)	Represents certain investments measured at NAV or its equivalent as a practical expedient in determining fair value. In accordance with current accounting guidance, these investments have not been classified in the fair value hierarchy. See Note 2 for additional information.

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets for the three month and six month periods ended June 30, 2016 and 2015:


	Three Months Ended June 30, 2016
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,301	$	7	$	–	$	–		$	(10	)	$	1,298

Total Level 3 Assets	$	1,301	$	7	$	–	$	–		$	(10	)	$	1,298


	Six Months Ended June 30, 2016
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,276	$	10	$	–	$	–		$	12		$	1,298

Total Level 3 Assets	$	1,276	$	10	$	–	$	–		$	12		$	1,298


	Three Months Ended June 30, 2015 (a)
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,289	$	8	$	–	$	–		$	2		$	1,299
Private equity funds		22,125		142		–		–			–			22,267

Total Level 3 Assets	$	23,414	$	150	$	–	$	–		$	2		$	23,566


	Six Months Ended June 30, 2015 (a)
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions/ Transfers (c)		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions/ Transfers (c)		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,315	$	10	$	–	$	–		$	(26	)	$	1,299
Private equity funds		–		2,771		19,887		(391	)		–			22,267

Total Level 3 Assets	$	1,315	$	2,781	$	19,887	$	(391	)	$	(26	)	$	23,566

(a)	The tables for the three month and six month periods ended June 30, 2015 reflect the retrospective application of new disclosure guidance adopted by the Company for investments using NAV or its equivalent as a practical expedient when measuring fair value. See Note 2.

(b)	Earnings for the three month and six month periods ended June 30, 2016 and the three month and six month periods ended June 30, 2015 include net unrealized gains of $2, $5, $150 and $2,781, respectively.

(c)	Certain investments that were valued at NAV as of December 31, 2014 of $19,255 were transferred to Level 3 from the NAV category in the six months ended June 30, 2015 as these investments were valued based on potential transaction value as of June 30, 2015.

There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the three month and six month periods ended June 30, 2016 and 2015.

The following tables present, at June 30, 2016 and December 31, 2015, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:

June 30, 2016

% 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

$21,806

–

(a)

<30-60 days

Funds of funds

469

–

(b)

<30-90 days

Other

579

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

–

(e)

<30-90 days

Private equity funds:

Equity growth

72,187

9,183

(f)

100%

16%

38%

46%

Mezzanine debt

33,374

–

100%

–

100%

Total

128,460

9,183

(a)	weekly (44%), monthly (46%) and quarterly (10%)

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

(c)	daily (4%) and monthly (96%)

(d)	daily (100%)

(e)	daily (19%), monthly (52%) and quarterly (29%)

(f)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $6,890 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

December 31, 2015

% 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

20,410

–

(a)

<30-60 days

Funds of funds

465

–

(b)

<30-90 days

Other

1,590

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

–

(e)

<30-90 days

Private equity funds:

Equity growth

67,895

10,242

(f)

100%

18%

39%

43%

Mezzanine debt

32,324

–

100%

–

100%

Total

122,732

10,242

(a)	weekly (23%), monthly (69%) and quarterly (8%)

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

(c)	daily (20%) and monthly (80%)

(d)	daily (100%)

(e)	daily (18%), monthly (54%) and quarterly (28%)

(f)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $5,501 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

Investment Capital Funding Commitments—At June 30, 2016, the Company’s maximum unfunded commitments for capital contributions to investment funds primarily arose from commitments to EGCP III, which amounted to $8,613, 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.

Derivatives

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

6.	*DERIVATIVES*

The Company enters into forward foreign currency exchange rate contracts, interest rate swaps, interest rate futures, total return swap contracts on various equity and debt indices and other derivative contracts to economically hedge exposures to fluctuations in currency exchange rates, interest rates and equity and debt prices. The Company reports its derivative instruments separately as assets and liabilities unless a legal right of set-off exists under a master netting agreement enforceable by law. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the condensed consolidated statements of financial condition. Gains and losses on the Company’s derivative instruments not designated as economic hedging instruments are included in “interest income” and “interest expense”, respectively, or “revenue-other”, depending on the nature of the underlying item, in the condensed consolidated statements of operations.

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

The tables below present the fair values of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair values of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 12) on the accompanying condensed consolidated statements of financial condition as of June 30, 2016 and December 31, 2015:


	June 30,		December 31,
	2016		2015
Derivative Assets:
Forward foreign currency exchange rate contracts	$	663	$	1,015
Total return swaps and other (a)		53		33

	$	716	$	1,048

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,911	$	1,584
Total return swaps and other (a)		6,853		531
LFI and other similar deferred compensation arrangements		177,129		193,574

	$	185,893	$	195,689

(a)

For total return swaps, amounts represent the netting of gross derivative assets and liabilities of $327 and $7,127 as of June 30, 2016, respectively, and $460 and $958 as of December 31, 2015, 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 $10,996 and $9,636 as of June 30, 2016 and December 31, 2015, respectively.

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2016 and 2015, were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Forward foreign currency exchange rate contracts	$	446		$	(4,023	)	$	(6,854	)	$	11,377
LFI and other similar deferred compensation arrangements		(312	)		1,894			2,202			(2,242	)
Total return swaps and other		(763	)		(16	)		(1,462	)		(3,184	)

Total	$	(629	)	$	(2,145	)	$	(6,114	)	$	5,951

- 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=64837297&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994

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-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Property

6 Months Ended

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Property

7.	*PROPERTY*

At June 30, 2016 and December 31, 2015, property consists of the following:


	Estimated Depreciable Life in Years
	Estimated Depreciable Life in Years		June 30, 2016		December 31, 2015
Buildings		33		$139,890	$	137,181
Leasehold improvements		3-20		167,494		167,838
Furniture and equipment		3-10		163,725		160,553
Construction in progress				13,552		7,099

Total				484,661		472,671
Less - Accumulated depreciation and amortization				282,732		265,506

Property				$201,929	$	207,165

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

8.	*GOODWILL AND OTHER INTANGIBLE ASSETS*

The components of goodwill and other intangible assets at June 30, 2016 and December 31, 2015 are presented below:


	June 30, 2016		December 31, 2015
Goodwill		$322,939	$	320,761
Other intangible assets (net of accumulated amortization)		5,242		6,215

		$328,181	$	326,976

At June 30, 2016 and December 31, 2015, goodwill of $258,398 and $256,220, 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 six month periods ended June 30, 2016 and 2015 are as follows:


	Six Months Ended June 30,
	2016		2015
Balance, January 1		$320,761	$	335,402
Foreign currency translation adjustments		2,178		(8,580	)

Balance, June 30		$322,939	$	326,822

All changes in the carrying amount of goodwill for the six month periods ended June 30, 2016 and 2015 are attributable to the Company’s Financial Advisory segment.

The gross cost and accumulated amortization of other intangible assets as of June 30, 2016 and December 31, 2015, by major intangible asset category, are as follows:


	June 30, 2016						December 31, 2015
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Performance fees	$	30,740		$25,506		$5,234	$	30,740	$	25,192	$	5,548
Management fees, customer relationships and non-compete agreements		33,036		33,028		8		33,036		32,369		667

	$	63,776		$58,534		$5,242	$	63,776	$	57,561	$	6,215

Amortization expense of intangible assets for the three month and six month periods ended June 30, 2016 was $330 and $974, respectively, and for the three month and six month periods ended June 30, 2015 was $1,857 and $2,890, respectively. Estimated future amortization expense is as follows:


Year Ending December 31,	Amortization Expense (a)
2016 (July 1 through December 31)	$	4,693
2017		549

Total amortization expense	$	5,242

(a)

Approximately 47% of intangible asset amortization is attributable to a noncontrolling interest.

- Definition

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

+ References + Details

Senior Debt

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Senior Debt

9.	*SENIOR DEBT*

Senior debt is comprised of the following as of June 30, 2016 and December 31, 2015:


								Outstanding as of,
	Initial Principal Amount		Maturity Date		Annual Interest Rate(b)			June 30, 2016						December 31, 2015
	Initial Principal Amount		Maturity Date		Annual Interest Rate(b)			Principal		Unamortized Debt Costs		Carrying Value		Principal		Unamortized Debt Costs		Carrying Value
Lazard Group 2017 Senior Notes (a)		600,000		6/15/17		6.85	%	$	98,350	$	105	$	98,245	$	98,350	$	159	$	98,191
Lazard Group 2020 Senior Notes		500,000		11/14/20		4.25	%		500,000		4,030		495,970		500,000		4,491		495,509
Lazard Group 2025 Senior Notes (a)		400,000		2/13/25		3.75	%		400,000		4,104		395,896		400,000		4,342		395,658

Total								$	998,350	$	8,239	$	990,111	$	998,350	$	8,992	$	989,358

(a)

During February 2015, Lazard Group completed an offering of $400,000 aggregate principal amount of 3.75% senior notes due 2025 (the “2025 Notes”). Lazard Group also issued a notice to redeem $450,000 of Lazard Group’s 6.85% senior notes due June 15, 2017 (the “2017 Notes”) in February 2015. Interest on the 2025 Notes is payable semi-annually on March 1 and September 1 of each year beginning September 1, 2015. Lazard Group used the net proceeds of the 2025 Notes, together with cash on hand, to redeem or otherwise retire $450,000 of the 2017 Notes, which, including the recognition of unamortized issuance costs, resulted in a loss on debt extinguishment of $60,219. Such loss on debt extinguishment was recorded in “operating expenses—other” on the condensed consolidated statement of operations for the six month period ended June 30, 2015.

(b)	The effective interest rates of the 2017 Notes, Lazard Group’s 4.25% senior notes due November 14, 2020 (the “2020 Notes”) and the 2025 Notes are 6.96%, 4.43% and 3.87%, respectively.

The table, as of December 31, 2015, reflects the retrospective application of new guidance adopted by the Company for debt issuance costs. See Note 2.

On September 25, 2015, Lazard Group entered into an Amended and Restated Credit Agreement for a five-year $150,000 senior revolving credit facility with a group of lenders (the “Amended and Restated Credit Agreement”), which expires in September 2020. The Amended and Restated Credit Agreement amended and restated the previous credit agreement dated September 25, 2012. Borrowings under the Amended and Restated Credit Agreement generally will bear interest at LIBOR plus an applicable margin for specific interest periods determined based on Lazard Group’s highest credit rating from an internationally recognized credit agency. At June 30, 2016 and December 31, 2015, no amounts were outstanding under the Amended and Restated Credit Agreement.

The Amended and Restated Credit Agreement, the indenture and the supplemental indentures relating to Lazard Group’s senior notes contain certain covenants, events of default and other customary provisions, including a customary make-whole provision in the event of early redemption, where applicable. As of June 30, 2016, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured.

As of June 30, 2016, the Company had approximately $215,000 in unused lines of credit available to it, including the credit facility provided under the Amended and Restated Credit Agreement, and unused lines of credit available to LFB of approximately $11,000 (at June 30, 2016 exchange rates) and Edgewater of $52,000. The unused lines of credit available to Edgewater are guaranteed by certain Edgewater private equity funds and can be drawn upon only by the applicable general partner, fund, or individual portfolio companies for the benefit of the applicable funds and individual portfolio companies of such funds. In addition, LFB has access to the Eurosystem Covered Bond Purchase Program of the Banque de France.

The Company’s senior debt at June 30, 2016 and December 31, 2015 is carried at historical amounts. At those dates, the fair value of such senior debt was approximately $1,037,000 and $994,000, respectively. The fair value of the Company’s senior debt is based on market quotations. The Company’s senior debt would be categorized within Level 2 of the hierarchy of fair value measurements if carried at fair value.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

10.

COMMITMENTS AND CONTINGENCIES

Leases—The Company has various leases and other contractual commitments arising in the ordinary course of business.

Guarantees—In the normal course of business, LFB provides indemnifications to third parties to protect them in the event of non-performance by its clients. At June 30, 2016, LFB had $5,394 of such indemnifications and held $5,337 of collateral/counter-guarantees to secure these commitments. The Company believes the likelihood of loss with respect to these indemnities is remote. Accordingly, no liability is recorded in the condensed consolidated statement of financial condition.

Certain Business Transactions—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 Earnout Shares will be issued only if certain performance thresholds are met. As of June 30, 2016 and December 31, 2015, 114,285 and 913,722 shares, respectively, are issuable on a contingent basis, and 2,171,429 and 1,371,992 shares, respectively, have been earned because applicable performance thresholds have been satisfied. As of June 30, 2016 and December 31, 2015, 2,171,429 and 1,371,992, respectively, of the earned shares have been settled.

Contingent Consideration Relating To Other Business Acquisitions—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. During the second quarter of 2015, the achievement of certain performance thresholds related to the acquired business were satisfied, resulting in the issuance of 27,316 shares of Class A common stock.

Other Commitments—The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, each of LFB and LFNY may enter into underwriting commitments in which it will participate as an underwriter. At June 30, 2016, LFB and LFNY had no such underwriting commitments.

See Notes 5 and 13 for information regarding commitments relating to investment capital funding commitments and obligations to fund our pension plans, respectively.

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

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

Stockholders' Equity

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Stockholders' Equity

11.

STOCKHOLDERS’ EQUITY

Share Repurchase Program—During the six month period ended June 30, 2016 and since 2013, the Board of Directors of Lazard authorized the repurchase of Class A common stock as set forth in the table below.


Date	Repurchase Authorization		Expiration
October, 2013	$	100,000		December 31, 2015
April, 2014	$	200,000		December 31, 2015
February, 2015	$	150,000		December 31, 2016
January, 2016	$	200,000		December 31, 2017
April, 2016	$	113,182		December 31, 2017

The Company expects that the share repurchase program will primarily be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”) and the Lazard Ltd 2005 Equity Incentive Plan (the “2005 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from quarter to quarter due to a variety of factors. Purchases with respect to such program are set forth in the table below:


	Number of Shares Purchased		Average Price Per Share
Six Months Ended June 30:

2015		2,306,694	$	51.04
2016		5,646,092	$	34.49

During the six month periods ended June 30, 2016 and 2015, certain of our executive officers received Class A common stock in connection with the vesting of previously-granted deferred equity incentive awards. The vesting of such equity awards gave rise to a tax payable by the executive officers, and, consistent with our past practice, the Company purchased shares of Class A common stock from the executive officers equal in value to the estimated amount of such tax. In addition, during the three month period ended June 30, 2016, the Company purchased shares of Class A common stock from an executive officer. The aggregate value of all such purchases during the six month periods ended June 30, 2016 and 2015 was approximately $4,900 and $17,700, respectively.

As of June 30, 2016, a total of $224,614 of share repurchase authorization remained available under the Company’s share repurchase program, which will expire on December 31, 2017.

During the six month period ended June 30, 2016, the Company had in place trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, pursuant to which it effected stock repurchases in the open market.

Preferred Stock—Lazard Ltd has 15,000,000 authorized shares of preferred stock, par value $0.01 per share, inclusive of its Series A 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. As of both June 30, 2016 and December 31, 2015, 7,921 shares of Series A preferred stock were outstanding, and no shares of Series B preferred stock were outstanding. At June 30, 2016 and December 31, 2015, 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 (“AOCI”)—The tables below reflect the balances of each component of AOCI at June 30, 2016 and 2015 and activity during the six month periods then ended:


	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2016	$	(97,284	)	$	(137,073	)	$	(234,357	)	$	(1	)	$	(234,356	)

Activity January 1 to June 30, 2016:
Other comprehensive loss before reclassifications		(4,365	)		(616	)		(4,981	)		–			(4,981	)
Adjustments for items reclassified to earnings, net of tax		–			2,307			2,307			–			2,307

Net other comprehensive income (loss)		(4,365	)		1,691			(2,674	)		–			(2,674	)

Balance, June 30, 2016	$	(101,649	)	$	(135,382	)	$	(237,031	)	$	(1	)	$	(237,030	)


	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2015	$	(46,102	)	$	(154,665	)	$	(200,767	)	$	(1	)	$	(200,766	)

Activity January 1 to June 30, 2015:
Other comprehensive loss before reclassifications		(22,342	)		(14,617	)		(36,959	)		–			(36,959	)
Adjustments for items reclassified to earnings, net of tax		–			2,376			2,376			–			2,376

Net other comprehensive loss		(22,342	)		(12,241	)		(34,583	)		–			(34,583	)

Balance, June 30, 2015	$	(68,444	)	$	(166,906	)	$	(235,350	)	$	(1	)	$	(235,349	)

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month and six month periods ended June 30, 2016 and 2015:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Amortization relating to employee benefit plans (a)	$	1,524	$	1,728	$	3,103	$	3,477
Less – related income taxes		403		538		796		1,101

Total reclassifications, net of tax	$	1,121	$	1,190	$	2,307	$	2,376

(a)	Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “compensation and benefits” expense on the condensed consolidated statements of operations.

Noncontrolling Interests—Noncontrolling interests principally represent interests held in Edgewater’s management vehicles that the Company is deemed to control, but does not own.

The tables below summarize net income attributable to noncontrolling interests for the three month and six month periods ended June 30, 2016 and 2015 and noncontrolling interests as of June 30, 2016 and December 31, 2015 in the Company’s condensed consolidated financial statements:


	Net Income Attributable to Noncontrolling Interests
	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Edgewater	$	1,007	$	1,041	$	4,907	$	7,734
Other		–		1		–		1

Total	$	1,007	$	1,042	$	4,907	$	7,735


	Noncontrolling Interests As Of
	June 30,		December 31,
	2016		2015
Edgewater	$	57,425	$	53,132
Other		718		719

Total	$	58,143	$	53,851

Dividends Declared, July 27, 2016— On July 27, 2016, the Board of Directors of Lazard declared a quarterly dividend of $0.38 per share on our Class A common stock, payable on August 19, 2016, to stockholders of record on August 8, 2016.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
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-Subparagraph (SX 210.5-02(29))
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Topic 210
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Incentive Plans

6 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Incentive Plans

12.

INCENTIVE PLANS

Share-Based Incentive Plan Awards

A description of Lazard Ltd’s 2008 Plan and 2005 Plan and activity with respect thereto during the three month and six month periods ended June 30, 2016 and 2015 is presented below.

Shares Available Under the 2008 Plan and 2005 Plan

The 2008 Plan authorizes the issuance of shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock units (“RSUs”) and other equity-based awards. Under the 2008 Plan, the maximum number of shares available is based on a formula that limits the aggregate number of shares that may, at any time, be subject to awards that are considered “outstanding” under the 2008 Plan to 30% of the then-outstanding shares of Class A common stock.

The 2005 Plan authorized the issuance of up to 25,000,000 shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, RSUs and other equity-based awards. Each RSU or similar award granted under the 2005 Plan represents a contingent right to receive one share of Class A common stock, at no cost to the recipient. The fair value of such awards is generally determined based on the closing market price of Class A common stock at the date of grant. The 2005 Plan expired in the second quarter of 2015, although unvested awards granted under the 2005 Plan remain outstanding and continue to be subject to its terms.

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, performance-based restricted stock units (“PRSUs”) and restricted stock awards) and “professional services” expense (with respect to deferred stock units (“DSUs”)) within the Company’s accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2016 and 2015:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Share-based incentive awards:
RSUs		$40,564	$	32,263		$94,972	$	91,334
PRSUs		10,335		8,414		27,024		14,612
Restricted Stock		8,342		2,830		31,818		15,453
DSUs		1,446		1,363		1,511		1,394

Total		$60,687	$	44,870		$155,325	$	122,793

The ultimate amount of compensation and benefits expense relating to share-based awards is dependent upon the actual number of shares of Class A common stock that vest. The Company periodically assesses the forfeiture rates used for such estimates, including as a result of any applicable performance conditions. A change in estimated forfeiture rates 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, RSUs, DSUs 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 share-based incentive plans and awards are described below.

RSUs and DSUs

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

RSUs generally include a dividend participation right that provides that during vesting periods each RSU is attributed additional RSUs (or fractions thereof) equivalent to any dividends paid on Class A common stock during such period. During the six month periods ended June 30, 2016 and 2015, issuances of RSUs pertaining to such dividend participation rights and respective charges to “retained earnings”, net of estimated forfeitures (with corresponding credits to “additional paid-in-capital”), consisted of the following:


	Six Months Ended June 30,
	2016		2015
Number of RSUs issued		841,433		529,616
Charges to retained earnings, net of estimated forfeitures	$	28,364	$	26,461

Non-executive members of the Board of Directors (“Non-Executive Directors”) receive approximately 55% of their annual compensation for service on the Board of Directors and its committees in the form of DSUs, which resulted in 38,771 and 23,961 DSUs granted in connection with annual compensation during the six month periods ended June 30, 2016 and 2015, 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 shares of Class A common stock at the time of cessation of service to the Board of Directors 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.

The Company’s Directors’ Fee Deferral Unit Plan permits the Non-Executive Directors to elect to receive additional DSUs in lieu of some or all of their cash fees. The number of DSUs granted to a Non-Executive Director pursuant to this election will equal the value of cash fees that the applicable Non-Executive Director has elected to forego pursuant to such election, divided by the market value of a share of Class A common stock on the date immediately preceding the date of the grant. During the six month periods ended June 30, 2016 and 2015, 4,467 and 1,183 DSUs, respectively, had been granted pursuant to such Plan.

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

The following is a summary of activity relating to RSUs and DSUs during the six month periods ended June 30, 2016 and 2015:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2016		9,599,658		$	44.06		312,670		$	35.98
Granted (including 841,433 RSUs relating to dividend participation)		6,486,463		$	34.47		43,238		$	34.95
Forfeited		(94,692	)	$	40.75		–			–
Vested		(4,233,894	)	$	39.10		(84,759	)	$	35.30

Balance, June 30, 2016		11,757,535		$	40.58		271,149		$	36.02

Balance, January 1, 2015		13,529,116		$	35.19		286,227		$	34.21
Granted (including 529,616 RSUs relating to dividend participation)		3,982,135		$	48.83		25,144		$	55.45
Forfeited		(397,637	)	$	43.04		–			–
Vested		(6,873,352	)	$	30.79		–			–

Balance, June 30, 2015		10,240,262		$	43.14		311,371		$	35.92

In connection with RSUs that vested during the six month periods ended June 30, 2016 and 2015, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 1,382,153 and 1,895,301 shares of Class A common stock during such respective six month periods. Accordingly, 2,851,741 and 4,978,051 shares of Class A common stock held by the Company were delivered during the six month periods ended June 30, 2016 and 2015, respectively.

As of June 30, 2016, estimated unrecognized RSU compensation expense was approximately $211,443, with such expense expected to be recognized over a weighted average period of approximately 1.0 years subsequent to June 30, 2016.

Restricted Stock

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the six month periods ended June 30, 2016 and 2015:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2016		713,738		$	47.12
Granted		1,795,258		$	36.78
Forfeited		(30,412	)	$	39.96
Vested		(729,457	)	$	36.72

Balance, June 30, 2016		1,749,127		$	40.96

Balance, January 1, 2015		729,827		$	38.63
Granted		576,886		$	50.88
Forfeited		(44,769	)	$	50.23
Vested		(501,298	)	$	39.19

Balance, June 30, 2015		760,646		$	46.87

In connection with shares of restricted Class A common stock that vested during the six month periods ended June 30, 2016 and 2015, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 129,389 and 92,500 shares of Class A common stock during such respective six month periods. Accordingly, 600,068 and 408,798 shares of Class A common stock held by the Company were delivered during the six month periods ended June 30, 2016 and 2015, respectively.

The restricted stock awards include a cash dividend participation right equivalent to dividends paid on Class A common stock during the period, which will vest concurrently with the underlying restricted stock award. At June 30, 2016, estimated unrecognized restricted stock expense was approximately $45,100, with such expense to be recognized over a weighted average period of approximately 1.1 years subsequent to June 30, 2016.

PRSUs

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 a three-year period. The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU generally can range from zero to two times the target number. PRSUs will vest on a single date three years following the date of the grant, provided the applicable service and performance conditions are satisfied. However, PRSUs granted in 2013 vested 33% in March 2015 and 67% in March 2016. 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 include dividend participation rights that provide that during vesting periods the target number of PRSUs (or, following the relevant performance period, the actual number of shares of Class A common stock that are no longer subject to performance conditions) receive dividend equivalents at the same rate that dividends are paid on Class A common stock during such period. These dividend equivalents are credited as RSUs that are not subject to the performance-based vesting criteria but are otherwise subject to the same restrictions as the underlying PRSUs to which they relate.

The following is a summary of activity relating to PRSUs during the six month periods ended June 30, 2016 and 2015:


	PRSUs			Weighted Average Grant Date Fair Value
Balance, January 1, 2016		1,019,038		$	44.49
Granted (a)		627,956		$	32.91
Vested		(417,018	)	$	38.43

Balance, June 30, 2016		1,229,976		$	40.63

Balance, January 1, 2015		1,347,148		$	37.79
Granted (a)		368,389		$	52.85
Vested		(696,499	)	$	35.96

Balance, June 30, 2015		1,019,038		$	44.49

(a)	Represents PRSU awards granted during the relevant year at the target payout level.

In connection with PRSUs that vested during the six month periods ended June 30, 2016 and 2015, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 64,169 and 32,086 shares of Class A common stock during such respective six month periods. Accordingly, 352,849 and 664,413 shares of Class A common stock held by the Company were delivered during the six month periods ended June 30, 2016 and 2015.

Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. As of June 30, 2016, the total estimated unrecognized compensation expense was approximately $19,783, and the Company expects to amortize such expense over a weighted-average period of approximately 0.8 years subsequent to June 30, 2016.

LFI and Other Similar Deferred Compensation Arrangements

Commencing in February 2011, the Company granted LFI to eligible employees. In connection with LFI and other similar deferred compensation arrangements, which generally require future service as a condition for vesting, the Company recorded a prepaid compensation asset and a corresponding compensation liability on the grant date based upon the fair value of the award. The prepaid asset is amortized on a straight-line basis over the applicable vesting periods or requisite service periods (which are generally similar to the comparable periods for RSUs), and is charged to “compensation and benefits” expense within the Company’s condensed consolidated statement of operations. LFI and similar deferred compensation arrangements that do not require future service are expensed immediately. The related compensation liability is accounted for at fair value as a derivative liability, which contemplates the impact of estimated forfeitures, and is adjusted for changes in fair value primarily related to changes in value of the underlying investments.

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the six month periods ended June 30, 2016 and 2015:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2016	$	75,703		$	193,574
Granted		51,871			51,871
Settled		–			(68,628	)
Forfeited		(704	)		(1,228	)
Amortization		(37,890	)		–
Change in fair value related to:
Decrease in fair value of underlying investments		–			(2,202	)
Adjustment for estimated forfeitures		–			3,385
Other		(873	)		357

Balance, June 30, 2016	$	88,107		$	177,129


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2015	$	73,278		$	207,306
Granted		89,817			89,817
Settled		–			(92,893	)
Forfeited		(3,259	)		(6,290	)
Amortization		(44,522	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			2,242
Adjustment for estimated forfeitures		–			3,433
Other		176			(1,552	)

Balance, June 30, 2015	$	115,490		$	202,063

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 0.9 years subsequent to June 30, 2016.

The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2016 and 2015:


	Three Months Ended June 30,					Six Months Ended June 30,
	2016		2015			2016			2015
Amortization, net of forfeitures	$	19,852	$	18,260		$	40,751		$	44,924
Change in the fair value of underlying investments		312		(1,894	)		(2,202	)		2,242

Total	$	20,164	$	16,366		$	38,549		$	47,166

- Definition

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

+ References + Details

Employee Benefit Plans

6 Months Ended

Jun. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

13.

EMPLOYEE BENEFIT PLANS

The Company provides retirement and other post-retirement benefits to certain of its employees through defined benefit pension plans (the “pension plans”) and, 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 to its employees. The post-retirement plans generally provide benefits to participants based on average levels of compensation. Expenses related to the Company’s employee benefit plans are included in “compensation and benefits” expense on the condensed consolidated statements of operations.

Employer Contributions to Pension Plans—The Company’s funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans’ trustees (the “Trustees”). Management also evaluates from time to time whether to make voluntary contributions to the plans.

The following table summarizes the components of net periodic benefit cost (credit) related to the Company’s post-retirement plans for the three month and six month periods ended June 30, 2016 and 2015:


	Pension Plans						Medical Plan
	Three Months Ended June 30,
	2016			2015			2016			2015
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	314		$	353		$	2		$	5
Interest cost		5,246			6,153			38			41
Expected return on plan assets		(7,233	)		(7,019	)
Amortization of:
Prior service cost		604			591
Net actuarial loss (gain)		1,012			1,137			(92	)

Net periodic benefit cost (credit)	$	(57	)	$	1,215		$	(52	)	$	46


	Pension Plans						Medical Plan
	Six Months Ended June 30,
	2016			2015			2016			2015
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	621		$	713		$	6		$	13
Interest cost		10,459			12,259			83			90
Expected return on plan assets		(14,399	)		(14,090	)
Amortization of:
Prior service cost		1,194			1,194
Net actuarial loss (gain)		2,001			2,283			(92	)

Net periodic benefit cost (credit)	$	(124	)	$	2,359		$	(3	)	$	103

Income Taxes

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Income Taxes

14.

INCOME TAXES

Lazard Ltd, through its subsidiaries, is subject to U.S. federal income taxes on all of its U.S. operating income, as well as on the portion of non-U.S. income attributable to its U.S. subsidiaries. Outside the U.S., Lazard Group operates principally through subsidiary corporations that are subject to local income taxes in foreign jurisdictions. Lazard Group is also subject to New York City Unincorporated Business Tax (“UBT”) attributable to its operations apportioned to New York City.

The Company recorded income tax provisions (benefits) of $31,872 and $59,526 for the three month and six month periods ended June 30, 2016, respectively, and $(1,176,531) and $(1,164,514) for the three month and six month periods ended June 30, 2015, respectively, representing effective tax rates of 28.1%, 28.1%, 146.8% and 160.2%, respectively. The difference between the U.S. federal statutory rate of 35.0% and the effective tax rates reflected above principally relates to (i) taxes payable to foreign jurisdictions that are not offset against U.S. income taxes, (ii) foreign source income (loss) not subject to U.S. income taxes (including interest on intercompany financings), (iii) change in the U.S. federal valuation allowance affecting the provision for income taxes, and (iv) U.S. state and local taxes (primarily UBT), which are incremental to the U.S. federal statutory tax rate.

As of December 31, 2014, the Company had a valuation allowance on substantially all of our deferred tax assets. Certain of our tax-paying entities at which we have historically recorded significant valuation allowances were profitable on a cumulative basis for the three year periods ended June 30, 2015. In assessing our valuation allowance as of June 30, 2015, we considered all available information, including the magnitude of recent and current operating results, the relatively long duration of statutory carryforward periods, our historical experience utilizing tax attributes prior to their expiration dates, the historical volatility of operating results of these entities and our assessment regarding the sustainability of their profitability. At that time, we concluded that there was a sufficient history of sustained profitability at these entities that it was more likely than not that these entities would be able to realize deferred tax assets. Accordingly, during the period ended June 30, 2015, we released substantially all of the valuation allowance against the deferred tax assets held by these entities.

As a result, during the year ended December 31, 2015, we recorded a deferred tax benefit of approximately $878,000, including $821,000 recorded in the second quarter of 2015. In addition, we also recorded (i) in the second quarter of 2015, a separate deferred tax benefit of approximately $378,000 that reflected the tax deductibility of payments under the tax receivable agreement and (ii) in the third quarter of 2015, a deferred tax expense of approximately $161,000 relating to the reduction of a deferred tax asset as a result of the partial extinguishment of our tax receivable agreement obligation. See Note 16 for more information regarding our accrual under the tax receivable agreement in the second quarter of 2015 and the partial extinguishment of our tax receivable agreement obligation in the third quarter of 2015.

Substantially all of Lazard’s operations outside the U.S. are conducted in “pass-through” entities for U.S. income tax purposes. The Company provides for U.S. income taxes on a current basis for 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.

Net Income Per Share of Class A Common Stock

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Net Income Per Share of Class A Common Stock

15.

NET INCOME PER SHARE OF CLASS A COMMON STOCK

The Company’s basic and diluted net income per share calculations for the three month and six month periods ended June 30, 2016 and 2015 are computed as described below.

Basic Net Income Per Share

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

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

Diluted Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective periods as in the basic net income per share calculation described above, plus, to the extent applicable and dilutive, (i) changes in net income attributable to noncontrolling interests resulting from assumed Class A common stock issuances in connection with share-based incentive compensation and (ii) income tax related to (i) above.

Denominator —utilizes the weighted average number of shares of Class A common stock outstanding for the respective periods as in the basic net income per share calculation described above, plus, to the extent dilutive, the incremental number of shares of Class A common stock required to settle share-based incentive compensation.

The calculations of the Company’s basic and diluted net income per share and weighted average shares outstanding for the three month and six month periods ended June 30, 2016 and 2015 are presented below:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net income attributable to Lazard Ltd - basic		$80,357		$ 374,113		$147,180		$ 430,066

Net income attributable to Lazard Ltd - diluted		$80,357		$ 374,113		$147,180		$ 430,066


Weighted average number of shares of Class A common stock outstanding		125,389,937		126,140,634		125,679,184		124,862,156
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		72,011		72,011		72,011		72,011

Weighted average number of shares of Class A common stock outstanding - basic		125,461,948		126,212,645		125,751,195		124,934,167
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation		6,879,574		6,593,400		6,865,208		8,336,829

Weighted average number of shares of Class A common stock outstanding - diluted		132,341,522		132,806,045		132,616,403		133,270,996

Net income attributable to Lazard Ltd per share of Class A common stock:
Basic		$0.64		$2.96		$1.17		$3.44

Diluted		$0.61		$2.82		$1.11		$3.23

Related Parties

6 Months Ended

Jun. 30, 2016

Related Parties

16.

RELATED PARTIES

Sponsored Funds

The Company serves as an investment advisor for certain affiliated investment companies and fund entities and receives management fees and, for the alternative investment funds, performance fees for providing such services. Investment advisory fees relating to such services were $124,794 and $243,704 for the three month and six month periods ended June 30, 2016, respectively, and $140,275 and $275,621 for the three month and six month periods ended June 30, 2015, respectively, and are included in “asset management fees” on the condensed consolidated statements of operations. Of such amounts, $49,762 and $42,002 remained as a receivable at June 30, 2016 and December 31, 2015, respectively, and is included in “fees receivable” on the condensed consolidated statements of financial condition.

Tax Receivable Agreement

The Second Amended and Restated Tax Receivable Agreement, dated as of October 26, 2015 (the “Amended and Restated Tax Receivable Agreement”), between Lazard and LTBP Trust, a Delaware statutory trust (the “Trust”), provides for the payment by our subsidiaries to the Trust of (i) approximately 45% (following

the July 2015 purchase described below) of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that we actually realize as a result of certain increases in tax basis and of certain other tax benefits related to the Amended and Restated Tax Receivable Agreement, and (ii) an amount that we currently expect will approximate 85% of the cash tax savings that may arise from tax benefits attributable to payments under the Amended and Restated Tax Receivable Agreement. Our subsidiaries expect to benefit from the balance of cash savings, if any, in income tax that our subsidiaries realize. Any amount paid by our subsidiaries to the Trust will generally be distributed to the owners of the Trust, including our executive officers, in proportion to their beneficial interests in the Trust.

For purposes of the Amended and Restated Tax Receivable Agreement, cash savings in income and franchise tax will be computed by comparing our subsidiaries’ actual income and franchise tax liability to the amount of such taxes that our subsidiaries would have been required to pay had there been no increase in the tax basis of certain tangible and intangible assets of Lazard Group attributable to our subsidiaries’ interest in Lazard Group and had our subsidiaries not entered into the Amended and Restated Tax Receivable Agreement. The term of the Amended and Restated Tax Receivable Agreement will continue until approximately 2033 or, if earlier, until all relevant tax benefits have been utilized or expired.

As described in Note 14, during the period ended June 30, 2015, we released substantially all of our valuation allowance against deferred tax assets. As a result, we accrued a corresponding liability of $961,948 during the quarter ended June 30, 2015 for amounts relating to the Amended and Restated Tax Receivable Agreement at that time.

The amount of the Amended and Restated Tax Receivable Agreement liability is an undiscounted amount based upon currently enacted tax laws, the current structure of the Company and various assumptions regarding potential future operating profitability. The assumptions reflected in the estimate involve significant judgment. As such, the actual amount and timing of payments under the Amended and Restated Tax Receivable Agreement could differ materially from our estimates. Any changes in the amount of the estimated liability would be recorded as a non-compensation expense in the condensed consolidated statement of operations. Adjustments, if necessary, to the related deferred tax assets would be recorded through the “provision (benefit) for income taxes”.

In July 2015, we purchased approximately 47% of the then-outstanding beneficial interests in the Trust from certain owners of the Trust for $42,222 in cash, which resulted in the automatic cancellation of such beneficial interests and the extinguishment of a significant portion of our payment obligations under the Amended and Restated Tax Receivable Agreement. The extinguishment of these payment obligations resulted in a pre-tax gain of $420,792 recorded in “provision pursuant to tax receivable agreement” on the consolidated statement of operations for the year ended December 31, 2015. In addition, the extinguishment of these payment obligations resulted in a reduction of the tax benefits that would have been attributable to the actual payments and, accordingly, we recorded a deferred tax expense of approximately $161,000 on the consolidated statement of operations for the year ended December 31, 2015.

For the three month and six month periods ended June 30, 2015, the Company recorded a “provision pursuant to tax receivable agreement” on the condensed consolidated statements of operations of $961,948 and $968,483, respectively. The cumulative liability relating to our obligations under the Amended and Restated Tax Receivable Agreement as of June 30, 2016 and December 31, 2015 was $513,623 and $523,962, respectively, and is recorded in “tax receivable agreement obligation” on the condensed consolidated statements of financial condition. The balance at June 30, 2016 reflects a payment made under the Amended and Restated Tax Receivable Agreement in the first quarter of 2016 of $10,086.

Other

See Note 11 for information regarding related party transactions pertaining to shares repurchased from certain of our executive officers.

Regulatory Authorities

6 Months Ended

Jun. 30, 2016

Banking and Thrift [Abstract]

Regulatory Authorities

17.

REGULATORY AUTHORITIES

LFNY is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Securities Exchange Act of 1934. 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. In addition, the ratio of aggregate indebtedness (as defined) to net capital may not exceed 15:1. At June 30, 2016, LFNY’s regulatory net capital was $74,673, which exceeded the minimum requirement by $71,156. LFNY’s aggregate indebtedness to net capital ratio was 0.71:1 as of June 30, 2016.

Certain U.K. subsidiaries of the Company, including LCL, Lazard Fund Managers Limited and Lazard Asset Management Limited (collectively, the “U.K. Subsidiaries”) are regulated by the Financial Conduct Authority. At June 30, 2016, the aggregate regulatory net capital of the U.K. Subsidiaries was $131,369, which exceeded the minimum requirement by $115,629.

CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”) for its banking activities conducted through its subsidiary, LFB. 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 June 30, 2016, the consolidated regulatory net capital of CFLF was $132,672, which exceeded the minimum requirement set for regulatory capital levels by $88,184. In addition, pursuant to the consolidated supervision rules in the European Union, LFB, in particular, as a French credit institution, is required to be supervised by a regulatory body, either in the U.S. or in the European Union. During the third quarter of 2013, the Company and the ACPR agreed on terms for the consolidated supervision of LFB and certain other non-Financial Advisory European subsidiaries of the Company (referred to herein, on a combined basis, as the “combined European regulated group”) under such rules. Under this supervision, the combined European regulated group is required to comply with minimum requirements for regulatory net capital to be reported on a quarterly basis and satisfy periodic financial and other reporting obligations. At March 31, 2016, the regulatory net capital of the combined European regulated group was $175,874, which exceeded the minimum requirement set for regulatory capital levels by $102,363. Additionally, the combined European regulated group, together with our European Financial Advisory entities, is required to perform an annual risk assessment and provide certain other information on a periodic basis, including financial reports and information relating to financial performance, balance sheet data and capital structure.

Certain other U.S. and non-U.S. subsidiaries are subject to various capital adequacy requirements promulgated by various regulatory and exchange authorities in the countries in which they operate. At June 30, 2016, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $103,005, which exceeded the minimum required capital by $77,533.

At June 30, 2016, 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
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1C
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
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-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826

+ Details

Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

18.

SEGMENT INFORMATION

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

The Company’s segment information for the three month and six month periods ended June 30, 2016 and 2015 is prepared using the following methodology:

•

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

•

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

•

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

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

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

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


		Three Months Ended June 30,						Six Months Ended June 30,
		2016			2015			2016			2015
Financial Advisory	Net Revenue	$	286,965		$	316,384		$	552,979		$	617,903
	Operating Expenses		233,727			253,221			460,805			496,156

	Operating Income	$	53,238		$	63,163		$	92,174		$	121,747


Asset Management	Net Revenue	$	254,126		$	305,838		$	499,885		$	585,645
	Operating Expenses		182,702			193,791			357,863			375,583

	Operating Income	$	71,424		$	112,047		$	142,022		$	210,062


Corporate	Net Revenue	$	(6,411	)	$	(13,130	)	$	(19,966	)	$	(16,707	)
	Operating Expenses (a)		5,015			963,456			2,617			1,041,815

	Operating Loss	$	(11,426	)	$	(976,586	)	$	(22,583	)	$	(1,058,522	)


Total	Net Revenue	$	534,680		$	609,092		$	1,032,898		$	1,186,841
	Operating Expenses		421,444			1,410,468			821,285			1,913,554

	Operating Income	$	113,236		$	(801,376	)	$	211,613		$	(726,713	)


	As Of
	June 30, 2016		December 31, 2015
Total Assets
Financial Advisory	$	732,462	$	763,374
Asset Management		583,487		640,034
Corporate (b)		2,899,672		3,074,366

Total (b)	$	4,215,621	$	4,477,774

(a)	Operating expenses include $961,948 and $968,483 in the three month and six month periods ended June 30, 2015, respectively, recorded for the provision pursuant to the tax receivable agreement. See Note 16 for information regarding the tax receivable agreement obligation.

(b)	As of December 31, 2015, reflects the retrospective application of new disclosure guidance adopted by the Company for debt issuance costs. See Note 2.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Organization and Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

Organization

•

Basis of Presentation

Basis of Presentation

The consolidated results of operations for the three month and six month periods ended June 30, 2016 are not indicative of the results to be expected for any future interim or annual period.

The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates:

•

Voting interest entities (“VOEs”) where the Company holds a majority of the voting interest in such VOEs and,

•

Recent Accounting Developments

Fair Value Measurement Policy

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.

Level 3.

The fair value of investments in private equity funds were classified as Level 3 for certain investments that were valued based on a potential transaction value as of June 30, 2015.

Derivative Instruments

Employer Contributions to Pension Plans

Computation of Basic and Diluted Net Income per Share

Basic Net Income Per Share

Diluted Net Income Per Share

- Definition

Disclosure of accounting policy for pension and other postretirement benefit plans. This accounting policy may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived.

+ References + Details

Receivables (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Schedule of Activity in Allowance for Doubtful Accounts

Activity in the allowance for doubtful accounts for the three month and six month periods ended June 30, 2016 and 2015 was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016			2015
Beginning Balance		$11,230	$	18,459		$12,882		$	23,540
Bad debt expense, net of recoveries		2,065		2,061		2,579			3,293
Charge-offs, foreign currency translation and other adjustments		274		551		(1,892	)		(5,762	)

Ending Balance		$13,569	$	21,071		$13,569		$	21,071

Investments (Tables)

6 Months Ended

Jun. 30, 2016

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 June 30, 2016 and December 31, 2015:


	June 30, 2016		December 31, 2015
Interest-bearing deposits	$	463	$	54,885

Debt		30,631		535

Equities		48,968		44,834

Funds:
Alternative investments (a)		50,233		67,600
Debt (a)		75,463		67,134
Equity (a)		171,252		197,787
Private equity		105,561		100,219

		402,509		432,740

Equity method		8,775		8,917

Total investments		491,346		541,911
Less:
Interest-bearing deposits		463		54,885
Equity method		8,775		8,917

Investments, at fair value		$482,108	$	478,109

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	33,791	$	3,239

(a)

Schedule of Trading Securities Net Unrealized Investment Gains and Losses


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net unrealized investment gains (losses)	$	859	$	(3,308)	$	6,174	$	(1,115)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

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


	June 30, 2016
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Investments:
Debt	$	–	$	30,631	$	–	$	–	$	30,631
Equities		47,670		–		1,298		–		48,968
Funds:
Alternative investments		27,379				–		22,854		50,233
Debt		75,457		–		–		6		75,463
Equity		171,213		–		–		39		171,252
Private equity		–		–		–		105,561		105,561
Derivatives		–		716		–		–		716

Total	$	321,719	$	31,347	$	1,298	$	128,460	$	482,824

Liabilities:
Securities sold, not yet purchased	$	3,160	$	30,631	$	–	$	–	$	33,791
Derivatives		–		185,893		–		–		185,893

Total	$	3,160	$	216,524	$	–	$	–	$	219,684


	December 31, 2015
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Investments:
Debt	$	535	$	–	$	–	$	–	$	535
Equities		43,558		–		1,276		–		44,834
Funds:
Alternative investments		45,135		–		–		22,465		67,600
Debt		67,128		–		–		6		67,134
Equity		197,745		–		–		42		197,787
Private equity		–		–		–		100,219		100,219
Derivatives		–		1,048		–		–		1,048

Total	$	354,101	$	1,048	$	1,276	$	122,732	$	479,157

Liabilities:
Securities sold, not yet purchased	$	3,239	$	–	$	–	$	–	$	3,239
Derivatives		–		195,689		–		–		195,689

Total	$	3,239	$	195,689	$	–	$	–	$	198,928

(a)	Represents certain investments measured at NAV or its equivalent as a practical expedient in determining fair value. In accordance with current accounting guidance, these investments have not been classified in the fair value hierarchy. See Note 2 for additional information.

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 three month and six month periods ended June 30, 2016 and 2015:


	Three Months Ended June 30, 2016
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,301	$	7	$	–	$	–		$	(10	)	$	1,298

Total Level 3 Assets	$	1,301	$	7	$	–	$	–		$	(10	)	$	1,298


	Six Months Ended June 30, 2016
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,276	$	10	$	–	$	–		$	12		$	1,298

Total Level 3 Assets	$	1,276	$	10	$	–	$	–		$	12		$	1,298


	Three Months Ended June 30, 2015 (a)
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,289	$	8	$	–	$	–		$	2		$	1,299
Private equity funds		22,125		142		–		–			–			22,267

Total Level 3 Assets	$	23,414	$	150	$	–	$	–		$	2		$	23,566


	Six Months Ended June 30, 2015 (a)
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (b)		Purchases/ Acquisitions/ Transfers (c)		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions/ Transfers (c)		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	1,315	$	10	$	–	$	–		$	(26	)	$	1,299
Private equity funds		–		2,771		19,887		(391	)		–			22,267

Total Level 3 Assets	$	1,315	$	2,781	$	19,887	$	(391	)	$	(26	)	$	23,566

(a)	The tables for the three month and six month periods ended June 30, 2015 reflect the retrospective application of new disclosure guidance adopted by the Company for investments using NAV or its equivalent as a practical expedient when measuring fair value. See Note 2.

(b)	Earnings for the three month and six month periods ended June 30, 2016 and the three month and six month periods ended June 30, 2015 include net unrealized gains of $2, $5, $150 and $2,781, respectively.

(c)	Certain investments that were valued at NAV as of December 31, 2014 of $19,255 were transferred to Level 3 from the NAV category in the six months ended June 30, 2015 as these investments were valued based on potential transaction value as of June 30, 2015.

Fair Value of Certain Investments Based on NAV

The following tables present, at June 30, 2016 and December 31, 2015, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:

June 30, 2016

% 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

$21,806

–

(a)

<30-60 days

Funds of funds

469

–

(b)

<30-90 days

Other

579

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

–

(e)

<30-90 days

Private equity funds:

Equity growth

72,187

9,183

(f)

100%

16%

38%

46%

Mezzanine debt

33,374

–

100%

–

100%

Total

128,460

9,183

(a)	weekly (44%), monthly (46%) and quarterly (10%)

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

(c)	daily (4%) and monthly (96%)

(d)	daily (100%)

(e)	daily (19%), monthly (52%) and quarterly (29%)

(f)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $6,890 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

December 31, 2015

% 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

20,410

–

(a)

<30-60 days

Funds of funds

465

–

(b)

<30-90 days

Other

1,590

–

(c)

<30-60 days

Debt funds

–

(d)

30 days

Equity funds

–

(e)

<30-90 days

Private equity funds:

Equity growth

67,895

10,242

(f)

100%

18%

39%

43%

Mezzanine debt

32,324

–

100%

–

100%

Total

122,732

10,242

(a)	weekly (23%), monthly (69%) and quarterly (8%)

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

(c)	daily (20%) and monthly (80%)

(d)	daily (100%)

(e)	daily (18%), monthly (54%) and quarterly (28%)

(f)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $5,501 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

Derivatives (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition


	June 30,		December 31,
	2016		2015
Derivative Assets:
Forward foreign currency exchange rate contracts	$	663	$	1,015
Total return swaps and other (a)		53		33

	$	716	$	1,048

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,911	$	1,584
Total return swaps and other (a)		6,853		531
LFI and other similar deferred compensation arrangements		177,129		193,574

	$	185,893	$	195,689

(a)

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Forward foreign currency exchange rate contracts	$	446		$	(4,023	)	$	(6,854	)	$	11,377
LFI and other similar deferred compensation arrangements		(312	)		1,894			2,202			(2,242	)
Total return swaps and other		(763	)		(16	)		(1,462	)		(3,184	)

Total	$	(629	)	$	(2,145	)	$	(6,114	)	$	5,951

Property (Tables)

6 Months Ended

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Components of Property

At June 30, 2016 and December 31, 2015, property consists of the following:


	Estimated Depreciable Life in Years
	Estimated Depreciable Life in Years		June 30, 2016		December 31, 2015
Buildings		33		$139,890	$	137,181
Leasehold improvements		3-20		167,494		167,838
Furniture and equipment		3-10		163,725		160,553
Construction in progress				13,552		7,099

Total				484,661		472,671
Less - Accumulated depreciation and amortization				282,732		265,506

Property				$201,929	$	207,165

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at June 30, 2016 and December 31, 2015 are presented below:


	June 30, 2016		December 31, 2015
Goodwill		$322,939	$	320,761
Other intangible assets (net of accumulated amortization)		5,242		6,215

		$328,181	$	326,976

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the six month periods ended June 30, 2016 and 2015 are as follows:


	Six Months Ended June 30,
	2016		2015
Balance, January 1		$320,761	$	335,402
Foreign currency translation adjustments		2,178		(8,580	)

Balance, June 30		$322,939	$	326,822

Gross Cost and Accumulated Amortization of Other Intangible Assets

The gross cost and accumulated amortization of other intangible assets as of June 30, 2016 and December 31, 2015, by major intangible asset category, are as follows:


	June 30, 2016						December 31, 2015
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Performance fees	$	30,740		$25,506		$5,234	$	30,740	$	25,192	$	5,548
Management fees, customer relationships and non-compete agreements		33,036		33,028		8		33,036		32,369		667

	$	63,776		$58,534		$5,242	$	63,776	$	57,561	$	6,215

Estimated Future Amortization Expense


Year Ending December 31,	Amortization Expense (a)
2016 (July 1 through December 31)	$	4,693
2017		549

Total amortization expense	$	5,242

(a)

Approximately 47% of intangible asset amortization is attributable to a noncontrolling interest.

Senior Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Senior Debt

Senior debt is comprised of the following as of June 30, 2016 and December 31, 2015:


								Outstanding as of,
	Initial Principal Amount		Maturity Date		Annual Interest Rate(b)			June 30, 2016						December 31, 2015
	Initial Principal Amount		Maturity Date		Annual Interest Rate(b)			Principal		Unamortized Debt Costs		Carrying Value		Principal		Unamortized Debt Costs		Carrying Value
Lazard Group 2017 Senior Notes (a)		600,000		6/15/17		6.85	%	$	98,350	$	105	$	98,245	$	98,350	$	159	$	98,191
Lazard Group 2020 Senior Notes		500,000		11/14/20		4.25	%		500,000		4,030		495,970		500,000		4,491		495,509
Lazard Group 2025 Senior Notes (a)		400,000		2/13/25		3.75	%		400,000		4,104		395,896		400,000		4,342		395,658

Total								$	998,350	$	8,239	$	990,111	$	998,350	$	8,992	$	989,358

(a)

(b)	The effective interest rates of the 2017 Notes, Lazard Group’s 4.25% senior notes due November 14, 2020 (the “2020 Notes”) and the 2025 Notes are 6.96%, 4.43% and 3.87%, respectively.

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Schedule of Share Repurchase Authorized by Board of Directors


Date	Repurchase Authorization		Expiration
October, 2013	$	100,000		December 31, 2015
April, 2014	$	200,000		December 31, 2015
February, 2015	$	150,000		December 31, 2016
January, 2016	$	200,000		December 31, 2017
April, 2016	$	113,182		December 31, 2017

Schedule of Share Repurchase Program


	Number of Shares Purchased		Average Price Per Share
Six Months Ended June 30:

2015		2,306,694	$	51.04
2016		5,646,092	$	34.49

Accumulated Other Comprehensive Income (Loss), Net of Tax


	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2016	$	(97,284	)	$	(137,073	)	$	(234,357	)	$	(1	)	$	(234,356	)

Activity January 1 to June 30, 2016:
Other comprehensive loss before reclassifications		(4,365	)		(616	)		(4,981	)		–			(4,981	)
Adjustments for items reclassified to earnings, net of tax		–			2,307			2,307			–			2,307

Net other comprehensive income (loss)		(4,365	)		1,691			(2,674	)		–			(2,674	)

Balance, June 30, 2016	$	(101,649	)	$	(135,382	)	$	(237,031	)	$	(1	)	$	(237,030	)


	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2015	$	(46,102	)	$	(154,665	)	$	(200,767	)	$	(1	)	$	(200,766	)

Activity January 1 to June 30, 2015:
Other comprehensive loss before reclassifications		(22,342	)		(14,617	)		(36,959	)		–			(36,959	)
Adjustments for items reclassified to earnings, net of tax		–			2,376			2,376			–			2,376

Net other comprehensive loss		(22,342	)		(12,241	)		(34,583	)		–			(34,583	)

Balance, June 30, 2015	$	(68,444	)	$	(166,906	)	$	(235,350	)	$	(1	)	$	(235,349	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month and six month periods ended June 30, 2016 and 2015:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Amortization relating to employee benefit plans (a)	$	1,524	$	1,728	$	3,103	$	3,477
Less – related income taxes		403		538		796		1,101

Total reclassifications, net of tax	$	1,121	$	1,190	$	2,307	$	2,376

(a)	Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “compensation and benefits” expense on the condensed consolidated statements of operations.

Net Income Attributable to Noncontrolling Interests


	Net Income Attributable to Noncontrolling Interests
	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Edgewater	$	1,007	$	1,041	$	4,907	$	7,734
Other		–		1		–		1

Total	$	1,007	$	1,042	$	4,907	$	7,735


	Noncontrolling Interests As Of
	June 30,		December 31,
	2016		2015
Edgewater	$	57,425	$	53,132
Other		718		719

Total	$	58,143	$	53,851

Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2016

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Share-based incentive awards:
RSUs		$40,564	$	32,263		$94,972	$	91,334
PRSUs		10,335		8,414		27,024		14,612
Restricted Stock		8,342		2,830		31,818		15,453
DSUs		1,446		1,363		1,511		1,394

Total		$60,687	$	44,870		$155,325	$	122,793

Schedule of Issuance of RSUs and Charges to Retained Earnings

During the six month periods ended June 30, 2016 and 2015, issuances of RSUs pertaining to such dividend participation rights and respective charges to “retained earnings”, net of estimated forfeitures (with corresponding credits to “additional paid-in-capital”), consisted of the following:


	Six Months Ended June 30,
	2016		2015
Number of RSUs issued		841,433		529,616
Charges to retained earnings, net of estimated forfeitures	$	28,364	$	26,461

Summary of LFI and Other Similar Deferred Compensation Arrangements

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the six month periods ended June 30, 2016 and 2015:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2016	$	75,703		$	193,574
Granted		51,871			51,871
Settled		–			(68,628	)
Forfeited		(704	)		(1,228	)
Amortization		(37,890	)		–
Change in fair value related to:
Decrease in fair value of underlying investments		–			(2,202	)
Adjustment for estimated forfeitures		–			3,385
Other		(873	)		357

Balance, June 30, 2016	$	88,107		$	177,129


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2015	$	73,278		$	207,306
Granted		89,817			89,817
Settled		–			(92,893	)
Forfeited		(3,259	)		(6,290	)
Amortization		(44,522	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			2,242
Adjustment for estimated forfeitures		–			3,433
Other		176			(1,552	)

Balance, June 30, 2015	$	115,490		$	202,063

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 0.9 years subsequent to June 30, 2016.


	Three Months Ended June 30,					Six Months Ended June 30,
	2016		2015			2016			2015
Amortization, net of forfeitures	$	19,852	$	18,260		$	40,751		$	44,924
Change in the fair value of underlying investments		312		(1,894	)		(2,202	)		2,242

Total	$	20,164	$	16,366		$	38,549		$	47,166

Restricted Stock Units And Deferred Stock Units [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to RSUs and DSUs during the six month periods ended June 30, 2016 and 2015:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2016		9,599,658		$	44.06		312,670		$	35.98
Granted (including 841,433 RSUs relating to dividend participation)		6,486,463		$	34.47		43,238		$	34.95
Forfeited		(94,692	)	$	40.75		–			–
Vested		(4,233,894	)	$	39.10		(84,759	)	$	35.30

Balance, June 30, 2016		11,757,535		$	40.58		271,149		$	36.02

Balance, January 1, 2015		13,529,116		$	35.19		286,227		$	34.21
Granted (including 529,616 RSUs relating to dividend participation)		3,982,135		$	48.83		25,144		$	55.45
Forfeited		(397,637	)	$	43.04		–			–
Vested		(6,873,352	)	$	30.79		–			–

Balance, June 30, 2015		10,240,262		$	43.14		311,371		$	35.92

Restricted Stock Awards Class A [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the six month periods ended June 30, 2016 and 2015:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2016		713,738		$	47.12
Granted		1,795,258		$	36.78
Forfeited		(30,412	)	$	39.96
Vested		(729,457	)	$	36.72

Balance, June 30, 2016		1,749,127		$	40.96

Balance, January 1, 2015		729,827		$	38.63
Granted		576,886		$	50.88
Forfeited		(44,769	)	$	50.23
Vested		(501,298	)	$	39.19

Balance, June 30, 2015		760,646		$	46.87

PRSUs [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to PRSUs during the six month periods ended June 30, 2016 and 2015:


	PRSUs			Weighted Average Grant Date Fair Value
Balance, January 1, 2016		1,019,038		$	44.49
Granted (a)		627,956		$	32.91
Vested		(417,018	)	$	38.43

Balance, June 30, 2016		1,229,976		$	40.63

Balance, January 1, 2015		1,347,148		$	37.79
Granted (a)		368,389		$	52.85
Vested		(696,499	)	$	35.96

Balance, June 30, 2015		1,019,038		$	44.49

(a)	Represents PRSU awards granted during the relevant year at the target payout level.

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

+ References + Details

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Cost (Credit)


	Pension Plans						Medical Plan
	Three Months Ended June 30,
	2016			2015			2016			2015
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	314		$	353		$	2		$	5
Interest cost		5,246			6,153			38			41
Expected return on plan assets		(7,233	)		(7,019	)
Amortization of:
Prior service cost		604			591
Net actuarial loss (gain)		1,012			1,137			(92	)

Net periodic benefit cost (credit)	$	(57	)	$	1,215		$	(52	)	$	46


	Pension Plans						Medical Plan
	Six Months Ended June 30,
	2016			2015			2016			2015
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	621		$	713		$	6		$	13
Interest cost		10,459			12,259			83			90
Expected return on plan assets		(14,399	)		(14,090	)
Amortization of:
Prior service cost		1,194			1,194
Net actuarial loss (gain)		2,001			2,283			(92	)

Net periodic benefit cost (credit)	$	(124	)	$	2,359		$	(3	)	$	103

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

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net income attributable to Lazard Ltd - basic		$80,357		$ 374,113		$147,180		$ 430,066

Net income attributable to Lazard Ltd - diluted		$80,357		$ 374,113		$147,180		$ 430,066


Weighted average number of shares of Class A common stock outstanding		125,389,937		126,140,634		125,679,184		124,862,156
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		72,011		72,011		72,011		72,011

Weighted average number of shares of Class A common stock outstanding - basic		125,461,948		126,212,645		125,751,195		124,934,167
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation		6,879,574		6,593,400		6,865,208		8,336,829

Weighted average number of shares of Class A common stock outstanding - diluted		132,341,522		132,806,045		132,616,403		133,270,996

Net income attributable to Lazard Ltd per share of Class A common stock:
Basic		$0.64		$2.96		$1.17		$3.44

Diluted		$0.61		$2.82		$1.11		$3.23

Segment Information (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

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


		Three Months Ended June 30,						Six Months Ended June 30,
		2016			2015			2016			2015
Financial Advisory	Net Revenue	$	286,965		$	316,384		$	552,979		$	617,903
	Operating Expenses		233,727			253,221			460,805			496,156

	Operating Income	$	53,238		$	63,163		$	92,174		$	121,747


Asset Management	Net Revenue	$	254,126		$	305,838		$	499,885		$	585,645
	Operating Expenses		182,702			193,791			357,863			375,583

	Operating Income	$	71,424		$	112,047		$	142,022		$	210,062


Corporate	Net Revenue	$	(6,411	)	$	(13,130	)	$	(19,966	)	$	(16,707	)
	Operating Expenses (a)		5,015			963,456			2,617			1,041,815

	Operating Loss	$	(11,426	)	$	(976,586	)	$	(22,583	)	$	(1,058,522	)


Total	Net Revenue	$	534,680		$	609,092		$	1,032,898		$	1,186,841
	Operating Expenses		421,444			1,410,468			821,285			1,913,554

	Operating Income	$	113,236		$	(801,376	)	$	211,613		$	(726,713	)


	As Of
	June 30, 2016		December 31, 2015
Total Assets
Financial Advisory	$	732,462	$	763,374
Asset Management		583,487		640,034
Corporate (b)		2,899,672		3,074,366

Total (b)	$	4,215,621	$	4,477,774

(a)	Operating expenses include $961,948 and $968,483 in the three month and six month periods ended June 30, 2015, respectively, recorded for the provision pursuant to the tax receivable agreement. See Note 16 for information regarding the tax receivable agreement obligation.

(b)	As of December 31, 2015, reflects the retrospective application of new disclosure guidance adopted by the Company for debt issuance costs. See Note 2.

Organization and Basis of Presentation - Additional Information (Detail) - Segment	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Organization And Basis Of Presentation [Line Items]
Governing operating agreement, date	Oct. 26, 2015
Number of business segments	2
Lazard Group LLC [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held	100.00%	100.00%

Recent Accounting Developments - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($)
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from other assets to senior debt	$ 8,992

Receivables - Schedule of Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts receivables, Beginning balance	$ 11,230	$ 18,459	$ 12,882	$ 23,540
Bad debt expense, net of recoveries	2,065	2,061	2,579	3,293
Charge-offs, foreign currency translation and other adjustments	274	551	(1,892)	(5,762)
Allowance for doubtful accounts receivables, Ending balance	$ 13,569	$ 21,071	$ 13,569	$ 21,071

Receivables - Additional Information (Detail) - USD ($)	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest-bearing financing fee receivables	$ 82,244,000		$ 81,774,000
Allowance for doubtful accounts receivables	13,569,000	$ 11,230,000	12,882,000	$ 21,071,000	$ 18,459,000	$ 23,540,000
Aggregate carrying amount of non-interest bearing receivables	413,072,000		415,439,000
Financing Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts receivables	0		0
Trade Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables past due or deemed uncollectible	$ 19,839,000		$ 19,923,000

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Total investments	$ 491,346	$ 541,911
Investments, at fair value	482,108	478,109
Securities sold, not yet purchased, at fair value (included in "other liabilities")	33,791	3,239
Equity Method [Member]
Schedule of Investments [Line Items]
Total investments	8,775	8,917
Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Total investments	463	54,885
Debt [Member]
Schedule of Investments [Line Items]
Total investments	30,631	535
Investments, at fair value	30,631	535
Equities [Member]
Schedule of Investments [Line Items]
Total investments	48,968	44,834
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Total investments	50,233	67,600
Investments, at fair value	50,233	67,600
Debt Funds [Member]
Schedule of Investments [Line Items]
Total investments	75,463	67,134
Investments, at fair value	75,463	67,134
Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	171,252	197,787
Investments, at fair value	171,252	197,787
Private Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	105,561	100,219
Investments, at fair value	105,561	100,219
Funds Total [Member]
Schedule of Investments [Line Items]
Total investments	$ 402,509	$ 432,740

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Investments	$ 491,346	$ 541,911
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Investments	50,233	67,600
Alternative Investment Funds [Member] \| Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	15,834	10,996
Debt Funds [Member]
Schedule of Investments [Line Items]
Investments	75,463	67,134
Debt Funds [Member] \| Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	38,350	31,598
Equity Funds [Member]
Schedule of Investments [Line Items]
Investments	171,252	197,787
Equity Funds [Member] \| Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	$ 131,204	$ 156,081

Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Investments [Line Items]
Revenue relating to disposal of business	$ 24,388		$ 24,388
Minimum [Member] \| Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Interest-bearing deposits maturity period		3 months
Maximum [Member] \| Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Interest-bearing deposits maturity period		1 year

Investments - Schedule of Trading Securities Net Unrealized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Realized and Unrealized Gain (Loss) on Trading Securities [Abstract]
Net unrealized investment gains (losses)	$ 859	$ (3,308)	$ 6,174	$ (1,115)

Fair Value Measurements - Schedule of Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis and Investments Measured at NAV (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 482,108	$ 478,109
Total Derivative Assets	716	1,048
Total Assets	482,824	479,157
Securities sold, not yet purchased	33,791	3,239
Total Derivative Liabilities	185,893	195,689
Total Liabilities	219,684	198,928
Fair Value, Measurements, Nonrecurring [Member] \| NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	128,460	122,732
Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	30,631	535
Equities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	48,968	44,834
Alternative Investment Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	50,233	67,600
Alternative Investment Funds [Member] \| Fair Value, Measurements, Nonrecurring [Member] \| NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	22,854	22,465
Debt Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	75,463	67,134
Debt Funds [Member] \| Fair Value, Measurements, Nonrecurring [Member] \| NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6	6
Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	171,252	197,787
Equity Funds [Member] \| Fair Value, Measurements, Nonrecurring [Member] \| NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	39	42
Private Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	105,561	100,219
Private Equity Funds [Member] \| Fair Value, Measurements, Nonrecurring [Member] \| NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	105,561	100,219
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	321,719	354,101
Securities sold, not yet purchased	3,160	3,239
Total Liabilities	3,160	3,239
Level 1 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		535
Level 1 [Member] \| Equities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	47,670	43,558
Level 1 [Member] \| Alternative Investment Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	27,379	45,135
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	75,457	67,128
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	171,213	197,745
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Derivative Assets	716	1,048
Total Assets	31,347	1,048
Securities sold, not yet purchased	30,631
Total Derivative Liabilities	185,893	195,689
Total Liabilities	216,524	195,689
Level 2 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	30,631
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	1,298	1,276
Level 3 [Member] \| Equities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 1,298	$ 1,276

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 1,301	$ 23,414	$ 1,276	$ 1,315
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	7	150	10	2,781
Purchases/Acquisitions/Transfers				19,887
Sales/Dispositions				(391)
Foreign Currency Translation Adjustments	(10)	2	12	(26)
Ending Balance	1,298	23,566	1,298	23,566
Equities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	1,301	1,289	1,276	1,315
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	7	8	10	10
Foreign Currency Translation Adjustments	(10)	2	12	(26)
Ending Balance	$ 1,298	1,299	$ 1,298	1,299
Private Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance		22,125
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other		142		2,771
Purchases/Acquisitions/Transfers				19,887
Sales/Dispositions				(391)
Ending Balance		$ 22,267		$ 22,267

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Net unrealized gains	$ 2	$ 150	$ 5	$ 2,781
Investments valued at NAV transferred to Level 3					$ 19,255

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Fair Value, Option, Quantitative Disclosures [Line Items]
Transfers between Level 1, 2 and 3 in fair value measurement hierarchy	$ 0	$ 0	$ 0	$ 0
Unfunded commitments	9,183,000		9,183,000		$ 10,242,000
EGCP III [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Unfunded commitments	$ 8,613,000		$ 8,613,000
End of the investment period	Oct. 12, 2016
Remaining commitments date	Oct. 12, 2023

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 128,460	$ 122,732
Unfunded commitments	9,183	10,242
Private Equity Funds [Member] \| Equity Growth [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	72,187	67,895
Unfunded commitments	$ 9,183	$ 10,242
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	16.00%	18.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	38.00%	39.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	46.00%	43.00%
Private Equity Funds [Member] \| Mezzanine Debt [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 33,374	$ 32,324
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	100.00%	100.00%
Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 21,806	$ 20,410
Hedge Funds [Member] \| Weekly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	44.00%	23.00%
Hedge Funds [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	46.00%	69.00%
Hedge Funds [Member] \| Quarterly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	10.00%	8.00%
Hedge Funds [Member] \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Hedge Funds [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Funds of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 469	$ 465
Funds of Funds [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	98.00%	98.00%
Funds of Funds [Member] \| Quarterly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	2.00%	2.00%
Funds of Funds [Member] \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Funds of Funds [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	90 days
Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 579	$ 1,590
Other [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	96.00%	80.00%
Other [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	4.00%	20.00%
Other [Member] \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Other [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Debt Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 6	$ 6
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	100.00%	100.00%
Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 39	$ 42
Equity Funds [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	52.00%	54.00%
Equity Funds [Member] \| Quarterly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	29.00%	28.00%
Equity Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	19.00%	18.00%
Equity Funds [Member] \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Equity Funds [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	90 days

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unfunded commitments	$ 9,183	$ 10,242
Private Equity Funds [Member] \| Equity Growth [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unfunded commitments	9,183	10,242
Private Equity Funds [Member] \| Equity Growth [Member] \| Consolidated But Not Owned [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unfunded commitments	$ 6,890	$ 5,501

Derivatives - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 716	$ 1,048
Derivative Liabilities	185,893	195,689
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	663	1,015
Derivative Liabilities	1,911	1,584
Total Return Swaps and Other [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	53	33
Derivative Liabilities	6,853	531
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 177,129	$ 193,574

Derivatives - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Gross derivative liability	$ 177,129	$ 193,574	$ 202,063	$ 207,306
Total Return Swaps [Member]
Derivatives, Fair Value [Line Items]
Gross derivative assets	327	460
Gross derivative liability	7,127	958
Cash collateral pledged for total return swaps	$ 10,996	$ 9,636

Derivatives - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (629)	$ (2,145)	$ (6,114)	$ 5,951
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	446	(4,023)	(6,854)	11,377
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(312)	1,894	2,202	(2,242)
Total Return Swaps and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (763)	$ (16)	$ (1,462)	$ (3,184)

Property - Components of Property (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 484,661	$ 472,671
Less - Accumulated depreciation and amortization	282,732	265,506
Property	201,929	207,165
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	139,890	137,181
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	167,494	167,838
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	163,725	160,553
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,552	$ 7,099
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	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 322,939	$ 320,761	$ 326,822	$ 335,402
Other intangible assets (net of accumulated amortization)	5,242	6,215
Goodwill and other intangible assets, Total	$ 328,181	$ 326,976

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 322,939	$ 326,822	$ 322,939	$ 326,822	$ 320,761	$ 335,402
Amortization of intangible assets	330	$ 1,857	974	$ 2,890
Financial Advisory Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	258,398		258,398		256,220
Asset Management Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 64,541		$ 64,541		$ 64,541

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 320,761	$ 335,402
Foreign currency translation adjustments	2,178	(8,580)
Ending Balance	$ 322,939	$ 326,822

Goodwill and Other Intangible Assets - Gross Cost and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	$ 63,776	$ 63,776
Other intangible assets, Accumulated Amortization	58,534	57,561
Other intangible assets, Net Carrying Amount	5,242	6,215
Performance Fees [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	30,740	30,740
Other intangible assets, Accumulated Amortization	25,506	25,192
Other intangible assets, Net Carrying Amount	5,234	5,548
Management Fees, Customer Relationships and Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	33,036	33,036
Other intangible assets, Accumulated Amortization	33,028	32,369
Other intangible assets, Net Carrying Amount	$ 8	$ 667

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
2016 (July 1 through December 31)	$ 4,693
2017	549
Total amortization expense	$ 5,242	$ 6,215

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Parenthetical) (Detail)	3 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Percentage of intangible asset amortization attributable to non-controlling interests	47.00%

Senior Debt - Senior Debt (Detail) - USD ($)	6 Months Ended
Senior Debt - Senior Debt (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015	Feb. 28, 2015
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	$ 998,350,000	$ 998,350,000
Senior Debt, Outstanding Unamortized Debt Costs	8,239,000	8,992,000
Senior Debt, Outstanding Carrying Value	990,111,000	989,358,000
Lazard Group 6.85% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	98,350,000	98,350,000
Senior Debt, Outstanding Unamortized Debt Costs	105,000	159,000
Senior Debt, Outstanding Carrying Value	$ 98,245,000	98,191,000
Senior Debt, Maturity Date	Jun. 15, 2017
Senior Debt, Initial Principal Amount	$ 600,000,000
Senior Debt, Annual Interest Rate	6.85%		6.85%
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	$ 500,000,000	500,000,000
Senior Debt, Outstanding Unamortized Debt Costs	4,030,000	4,491,000
Senior Debt, Outstanding Carrying Value	$ 495,970,000	495,509,000
Senior Debt, Maturity Date	Nov. 14, 2020
Senior Debt, Initial Principal Amount	$ 500,000,000
Senior Debt, Annual Interest Rate	4.25%
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	$ 400,000,000	400,000,000
Senior Debt, Outstanding Unamortized Debt Costs	4,104,000	4,342,000
Senior Debt, Outstanding Carrying Value	$ 395,896,000	$ 395,658,000
Senior Debt, Maturity Date	Feb. 13, 2025
Senior Debt, Initial Principal Amount	$ 400,000,000		$ 400,000,000
Senior Debt, Annual Interest Rate	3.75%		3.75%

Senior Debt - Senior Debt (Parenthetical) (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Feb. 28, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 60,219,000
Lazard Group 6.85% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount		$ 600,000,000
Redemption of senior debt	$ 450,000,000
Senior notes interest rate	6.85%	6.85%
Original Maturity Date		Jun. 15, 2017
Loss on extinguishment of debt			$ 60,219,000
Effective interest rates of senior notes		6.96%
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount		$ 500,000,000
Senior notes interest rate		4.25%
Original Maturity Date		Nov. 14, 2020
Effective interest rates of senior notes		4.43%
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 400,000,000	$ 400,000,000
Senior notes interest rate	3.75%	3.75%
Original Maturity Date		Feb. 13, 2025
Interest rate, payment terms		Interest on the 2025 Notes is payable semi-annually on March 1 and September 1 of each year beginning September 1, 2015.
Effective interest rates of senior notes		3.87%

Senior Debt - Additional Information (Detail) - USD ($)	Sep. 25, 2015	Jun. 30, 2016	Dec. 31, 2015
Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		$ 215,000,000
Senior Debt [Member]
Debt Instrument [Line Items]
Fair value of senior debt		1,037,000,000	$ 994,000,000
LFB [Member] \| Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		11,000,000
Edgewater [Member] \| Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		52,000,000
Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Senior revolving credit facility	$ 150,000,000
Duration of senior revolving credit facility, in years	5 years
Expiration of credit facility	2020-09
Outstanding credit facility		$ 0	$ 0

Commitments and Contingencies - Additional Information (Detail) - USD ($)		3 Months Ended
	Jul. 15, 2009	Jun. 30, 2015	Mar. 31, 2013	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2012
Other Commitments [Line Items]
Guarantees indemnifications				$ 5,394,000
Collateral/counter-guarantees				$ 5,337,000
Aggregate fair value of consideration recognized by the company at acquisition date	$ 61,624,000
Initial and Earnout shares issuable on contingent basis				114,285	913,722
Initial and Earnout shares earned				2,171,429	1,371,992
Initial and Earnout shares became settled				2,171,429	1,371,992
LFB [Member]
Other Commitments [Line Items]
Underwriting commitments				$ 0
LFNY [Member]
Other Commitments [Line Items]
Underwriting commitments				$ 0
Class A Common Stock [Member]
Other Commitments [Line Items]
Common stock issuable on non-contingent basis						170,988
Common stock issued on non-contingent basis			170,988
Issuance of common stock		27,316
Class A Common Stock [Member] \| Initial Shares [Member]
Other Commitments [Line Items]
Class A common stock issued in acquisition	1,142,857
Class A Common Stock [Member] \| Earnout Shares [Member]
Other Commitments [Line Items]
Additional shares of Class A common stock subject to earnout criteria and payable over time	1,142,857

Stockholders' Equity - Schedule of Share Repurchase Authorized by Board of Directors (Detail)	6 Months Ended
	Jun. 30, 2016 USD ($)
October, 2013 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 100,000,000
Expiration	Dec. 31, 2015
April, 2014 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 200,000,000
Expiration	Dec. 31, 2015
February, 2015 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 150,000,000
Expiration	Dec. 31, 2016
January, 2016 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 200,000,000
Expiration	Dec. 31, 2017
April, 2016 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 113,182,000
Expiration	Dec. 31, 2017

Stockholders' Equity - Schedule of Share Repurchase Program (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share Repurchase Program [Abstract]
Number of Shares Purchased	5,646,092	2,306,694
Average Price Per Share	$ 34.49	$ 51.04

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended
	Jul. 27, 2016	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule Of Stockholders Equity [Line Items]
Shares repurchased, value						$ 194,729	$ 117,733
Preferred stock, shares authorized		15,000,000	15,000,000	15,000,000		15,000,000
Preferred stock, par value		$ 0.01	$ 0.01	$ 0.01		$ 0.01
Dividend declared per share of common stock				$ 0.38	$ 0.35	$ 1.93	$ 1.65
January, 2016 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining authorization		$ 224,614		$ 224,614		$ 224,614
Share repurchase authorization expiration date						Dec. 31, 2017
Class A Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Conversion of Series A preferred stock into Class A common stock (in shares)		0	0
Class A Common Stock [Member] \| Subsequent Event [Member]
Schedule Of Stockholders Equity [Line Items]
Dividend declared per share of common stock	$ 0.38
Dividend payable date	Aug. 19, 2016
Dividend date of record	Aug. 08, 2016
Dividend declare date	Jul. 27, 2016
Class A Common Stock [Member] \| Executive Officers [Member]
Schedule Of Stockholders Equity [Line Items]
Shares repurchased, value						$ 4,900	$ 17,700
Series A Preferred Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares outstanding		7,921	7,921	7,921		7,921
Series B Preferred Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares outstanding		0	0	0		0

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (234,356)	$ (200,766)
Other comprehensive loss before reclassifications			(4,981)	(36,959)
Adjustments for items reclassified to earnings, net of tax	$ 1,121	$ 1,190	2,307	2,376
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(15,458)	(1,855)	(2,674)	(34,583)
Net other comprehensive income(loss)			(2,674)	(34,583)
Ending balance	(237,030)	(235,349)	(237,030)	(235,349)
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(1)	(1)
Ending balance	(1)	(1)	(1)	(1)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(97,284)	(46,102)
Other comprehensive loss before reclassifications			(4,365)	(22,342)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX			(4,365)	(22,342)
Ending balance	(101,649)	(68,444)	(101,649)	(68,444)
Employee Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(137,073)	(154,665)
Other comprehensive loss before reclassifications			(616)	(14,617)
Adjustments for items reclassified to earnings, net of tax			2,307	2,376
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX			1,691	(12,241)
Ending balance	(135,382)	(166,906)	(135,382)	(166,906)
Total AOCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(234,357)	(200,767)
Other comprehensive loss before reclassifications			(4,981)	(36,959)
Adjustments for items reclassified to earnings, net of tax			2,307	2,376
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX			(2,674)	(34,583)
Ending balance	$ (237,031)	$ (235,350)	$ (237,031)	$ (235,350)

Stockholders' Equity - Adjustments for Items Reclassified Out of AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Amortization relating to employee benefit plans	$ 1,524	$ 1,728	$ 3,103	$ 3,477
Less - related income taxes	403	538	796	1,101
Total reclassifications, net of tax	$ 1,121	$ 1,190	$ 2,307	$ 2,376

Stockholders' Equity - Net Income Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Change In Ownership Interest [Line Items]
Net Income Attributable to Noncontrolling Interests	$ 1,007	$ 1,042	$ 4,907	$ 7,735
Noncontrolling interests	58,143		58,143		$ 53,851
Edgewater [Member]
Change In Ownership Interest [Line Items]
Net Income Attributable to Noncontrolling Interests	1,007	1,041	4,907	7,734
Noncontrolling interests	57,425		57,425		53,132
Other [Member]
Change In Ownership Interest [Line Items]
Net Income Attributable to Noncontrolling Interests		$ 1		$ 1
Noncontrolling interests	$ 718		$ 718		$ 719

Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2013
Lazard Fund Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, years	10 months 24 days
Non-Executive [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual compensation received by directors in the form of DSUs	55.00%
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis	One-for-one
Grant date fair value, amortized periods	Generally one-third after two years, and the remaining two-thirds after the third year
Unrecognized compensation expense	$ 211,443
Unrecognized compensation expense, years	1 year
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 19,783
Unrecognized compensation expense, years	9 months 18 days
Percentage of target number of shares subject to each PRSU no longer subject to forfeiture due to threshold level of performance being achieved	25.00%
Descriptions of vesting period associated with PRSUs	PRSUs will vest on a single date three years following the date of the grant
Vesting period of PRSUs granted	3 years
PSRU's target share distribution for Class A common stock, description	The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU generally can range from zero to two times the target number.
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual compensation paid in DSUs	38,771	23,961
Units granted under the directors deferred unit plan	4,467	1,183
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 45,100
Unrecognized compensation expense, years	1 year 1 month 6 days
March 2015 [Member] \| PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period associated with PRSUs			33.00%
March 2016 [Member] \| PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period associated with PRSUs			67.00%
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	1,382,153	1,895,301
Delivery of common stock associated with stock awards	2,851,741	4,978,051
Class A Common Stock [Member] \| PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery	64,169	32,086
Delivery of common stock associated with stock awards	352,849	664,413
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	129,389	92,500
Delivery of common stock associated with stock awards	600,068	408,798
Class A Common Stock [Member] \| 2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available to be awarded is 30% the then-outstanding shares of common stock	30.00%
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

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based incentive awards:
Share-based incentive awards	$ 60,687	$ 44,870	$ 155,325	$ 122,793
RSUs [Member]
Share-based incentive awards:
Share-based incentive awards	40,564	32,263	94,972	91,334
PRSUs [Member]
Share-based incentive awards:
Share-based incentive awards	10,335	8,414	27,024	14,612
Restricted Stock [Member]
Share-based incentive awards:
Share-based incentive awards	8,342	2,830	31,818	15,453
DSUs [Member]
Share-based incentive awards:
Share-based incentive awards	$ 1,446	$ 1,363	$ 1,511	$ 1,394

Incentive Plans - Schedule of Issuance of RSUs and Charges to Retained Earnings (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of RSUs issued	841,433	529,616
Charges to retained earnings, net of estimated forfeitures	$ 28,364	$ 26,461

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	9,599,658	13,529,116
Units, Granted	6,486,463	3,982,135
Units, Forfeited	(94,692)	(397,637)
Units, Vested	(4,233,894)	(6,873,352)
Units, Ending Balance	11,757,535	10,240,262
Weighted Average Grant Date Fair Value, Beginning Balance	$ 44.06	$ 35.19
Weighted Average Grant Date Fair Value, Granted	34.47	48.83
Weighted Average Grant Date Fair Value, Forfeited	40.75	43.04
Weighted Average Grant Date Fair Value, Vested	39.10	30.79
Weighted Average Grant Date Fair Value, Ending Balance	$ 40.58	$ 43.14
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	312,670	286,227
Units, Granted	43,238	25,144
Units, Vested	(84,759)
Units, Ending Balance	271,149	311,371
Weighted Average Grant Date Fair Value, Beginning Balance	$ 35.98	$ 34.21
Weighted Average Grant Date Fair Value, Granted	34.95	55.45
Weighted Average Grant Date Fair Value, Vested	35.30
Weighted Average Grant Date Fair Value, Ending Balance	$ 36.02	$ 35.92

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Parenthetical) (Detail) - shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend participation rights	841,433	529,616

Incentive Plans - Summary of Activity Related to Shares of Restricted Class A Common Stock (Detail) - Restricted Stock [Member] - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	713,738	729,827
Units, Granted	1,795,258	576,886
Units, Forfeited	(30,412)	(44,769)
Units, Vested	(729,457)	(501,298)
Units, Ending Balance	1,749,127	760,646
Weighted Average Grant Date Fair Value, Beginning Balance	$ 47.12	$ 38.63
Weighted Average Grant Date Fair Value, Granted	36.78	50.88
Weighted Average Grant Date Fair Value, Forfeited	39.96	50.23
Weighted Average Grant Date Fair Value, Vested	36.72	39.19
Weighted Average Grant Date Fair Value, Ending Balance	$ 40.96	$ 46.87

Incentive Plans - Summary of Activity Relating to PRSUs (Detail) - PRSUs [Member] - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	1,019,038	1,347,148
Units, Granted	627,956	368,389
Units, Vested	(417,018)	(696,499)
Units, Ending Balance	1,229,976	1,019,038
Weighted Average Grant Date Fair Value, Beginning Balance	$ 44.49	$ 37.79
Weighted Average Grant Date Fair Value, Granted	32.91	52.85
Weighted Average Grant Date Fair Value, Vested	38.43	35.96
Weighted Average Grant Date Fair Value, Ending Balance	$ 40.63	$ 44.49

Incentive Plans - Summary of LFI and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Deferred Compensation Arrangements [Abstract]
Prepaid Compensation Asset, Beginning Balance	$ 75,703	$ 73,278
Prepaid Compensation Asset, Granted	51,871	89,817
Prepaid Compensation Asset, Settled	0	0
Prepaid Compensation Asset, Forfeited	(704)	(3,259)
Prepaid Compensation Asset, Amortization	(37,890)	(44,522)
Prepaid Compensation Asset, Increase (Decrease) in fair value of underlying investments	0	0
Prepaid Compensation Asset, Adjustment for estimated forfeitures	0	0
Prepaid Compensation Asset, Other	(873)	176
Prepaid Compensation Asset, Ending Balance	88,107	115,490
Compensation Liability, Beginning Balance	193,574	207,306
Compensation Liability, Granted	51,871	89,817
Compensation Liability, Settled	(68,628)	(92,893)
Compensation Liability, Forfeited	(1,228)	(6,290)
Compensation Liability, Amortization	0	0
Compensation Liability, Increase (Decrease) in fair value of underlying investments	(2,202)	2,242
Compensation Liability, Adjustment for estimated forfeitures	3,385	3,433
Compensation Liability, Other	357	(1,552)
Compensation Liability, Ending Balance	$ 177,129	$ 202,063

Incentive Plans - Summary of Impact of LFI and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation [Abstract]
Amortization of awarded grants, net of forfeitures	$ 19,852	$ 18,260	$ 40,751	$ 44,924
Change in the fair value of underlying investments	312	(1,894)	(2,202)	2,242
Total	$ 20,164	$ 16,366	$ 38,549	$ 47,166

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Plans [Member]
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 314	$ 353	$ 621	$ 713
Interest cost	5,246	6,153	10,459	12,259
Expected return on plan assets	(7,233)	(7,019)	(14,399)	(14,090)
Amortization of:
Prior service cost	604	591	1,194	1,194
Net actuarial loss (gain)	1,012	1,137	2,001	2,283
Net periodic benefit cost (credit)	(57)	1,215	(124)	2,359
Medical Plan [Member]
Components of Net Periodic Benefit Cost (Credit):
Service cost	2	5	6	13
Interest cost	38	41	83	90
Amortization of:
Net actuarial loss (gain)	(92)		(92)
Net periodic benefit cost (credit)	$ (52)	$ 46	$ (3)	$ 103

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax [Line Items]
Income tax provisions (benefits)	$ 31,872		$ (1,176,531)	$ 59,526	$ (1,164,514)
Effective income tax rates	28.10%		146.80%	28.10%	160.20%
U.S. federal statutory income tax rate				35.00%
Deferred tax benefit from release of valuation allowance			$ 821,000			$ 878,000
Deferred tax benefit related to tax receivable agreement			$ 378,000
LTBP Trust [Member]
Income Tax [Line Items]
Reduction of deferred tax benefit related to tax receivable agreement		$ 161,000				$ 161,000

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net income attributable to Lazard Ltd - basic	$ 80,357	$ 374,113	$ 147,180	$ 430,066
Net income attributable to Lazard Ltd - diluted	$ 80,357	$ 374,113	$ 147,180	$ 430,066
Weighted average number of shares of Class A common stock outstanding	125,389,937	126,140,634	125,679,184	124,862,156
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis	72,011	72,011	72,011	72,011
Weighted average number of shares of Class A common stock outstanding - basic	125,461,948	126,212,645	125,751,195	124,934,167
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation	6,879,574	6,593,400	6,865,208	8,336,829
Weighted average number of shares of Class A common stock outstanding - diluted	132,341,522	132,806,045	132,616,403	133,270,996
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$ 0.64	$ 2.96	$ 1.17	$ 3.44
Diluted	$ 0.61	$ 2.82	$ 1.11	$ 3.23

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Oct. 26, 2015	Jul. 31, 2015	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Asset management fees			$ 241,397			$ 268,754	$ 475,128	$ 530,709
Fees receivable			402,986				$ 402,986		$ 423,817
Tax receivable agreement, expiration terms							The term of the Amended and Restated Tax Receivable Agreement will continue until approximately 2033 or, if earlier, until all relevant tax benefits have been utilized or expired.
Provision (benefit) pursuant to tax receivable agreement						961,948		968,483
Percentage of beneficial interests purchased in trust		47.00%
Payments to cancel beneficial interests and extinguishment of payment obligations under the amended and restated tax receivable agreement		$ 42,222
Payments under tax receivable agreement							$ 10,086
Sponsored Funds [Member]
Related Party Transaction [Line Items]
Asset management fees			124,794			140,275	243,704	275,621
Fees receivable			49,762				49,762		42,002
LTBP Trust [Member]
Related Party Transaction [Line Items]
Amount of cash savings in income or franchise tax that would be realized as a result of increases in tax basis and certain other tax benefits related to the amended and restated tax receivable agreement	45.00%
Cash tax saving that may arise from tax benefits attributable to payments under the amended and restated tax receivable agreement	85.00%
Provision (benefit) pursuant to tax receivable agreement						$ 961,948		$ 968,483
Pre-tax gain on extinguishment of obligations under tax receivable agreement									420,792
Reduction of deferred tax benefit related to tax receivable agreement					$ 161,000				161,000
Cumulative liability relating to obligations under Amended and Restated Tax Receivable Agreement			$ 513,623				$ 513,623		$ 523,962
Payments under tax receivable agreement				$ 10,086

Regulatory Authorities - Additional Information (Detail)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)
LFNY [Member]
Regulatory Requirements [Line Items]
Specified fixed percentage, minimum required capital	6.67%
Minimum net capital requirement as defined under securities exchange act	$ 100,000
Regulatory capital	74,673,000
Regulatory capital in excess of minimum requirement	$ 71,156,000
Aggregate indebtedness to net capital ratio	0.71
LFNY [Member] \| Maximum [Member]
Regulatory Requirements [Line Items]
Aggregate indebtedness to net capital ratio	15
U.K. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	$ 131,369,000
Regulatory capital in excess of minimum requirement	115,629,000
CFLF [Member]
Regulatory Requirements [Line Items]
Regulatory capital	132,672,000
Regulatory capital in excess of minimum requirement	88,184,000
Combined European Regulated Group [Member]
Regulatory Requirements [Line Items]
Regulatory capital		$ 175,874,000
Regulatory capital in excess of minimum requirement		$ 102,363,000
Other U.S. and Non-U.S. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	103,005,000
Regulatory capital in excess of minimum requirement	$ 77,533,000

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net Revenue	$ 534,680	$ 609,092	$ 1,032,898	$ 1,186,841
Operating Expenses	421,444	1,410,468	821,285	1,913,554
Operating Income (Loss)	113,236	(801,376)	211,613	(726,713)
Total Assets	4,215,621		4,215,621		$ 4,477,774
Operating Segments [Member] \| Financial Advisory Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue	286,965	316,384	552,979	617,903
Operating Expenses	233,727	253,221	460,805	496,156
Operating Income (Loss)	53,238	63,163	92,174	121,747
Total Assets	732,462		732,462		763,374
Operating Segments [Member] \| Asset Management Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue	254,126	305,838	499,885	585,645
Operating Expenses	182,702	193,791	357,863	375,583
Operating Income (Loss)	71,424	112,047	142,022	210,062
Total Assets	583,487		583,487		640,034
Corporate [Member]
Segment Reporting Information [Line Items]
Net Revenue	(6,411)	(13,130)	(19,966)	(16,707)
Operating Expenses	5,015	963,456	2,617	1,041,815
Operating Income (Loss)	(11,426)	$ (976,586)	(22,583)	$ (1,058,522)
Total Assets	$ 2,899,672		$ 2,899,672		$ 3,074,366

Segment Information - Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Segment Reporting Information [Line Items]
Provision pursuant to tax receivable agreement	$ 961,948	$ 968,483
LTBP Trust [Member]
Segment Reporting Information [Line Items]
Provision pursuant to tax receivable agreement	$ 961,948	$ 968,483