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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2013	Jul. 24, 2013
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2
Trading Symbol	LZD
Entity Registrant Name	Lazard Group LLC
Entity Central Index Key	0001326141
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		0
Common Membership Interests, Shares Outstanding		129,766,090
Managing Member Interests, Shares Outstanding		2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 595,704	$ 845,503
Deposits with banks	344,839	292,494
Cash deposited with clearing organizations and other segregated cash	60,767	65,232
Receivables (net of allowance for doubtful accounts of $24,593 and $23,017 at June 30, 2013 and December 31, 2012, respectively):
Fees	391,762	400,529
Customers and other	117,902	53,713
Related parties	124,031	128,388
Total receivables, net	633,695	582,630
Investments	438,119	402,514
Property (net of accumulated amortization and depreciation of $232,487 and $225,861 at June 30, 2013 and December 31, 2012, respectively)	241,948	225,032
Goodwill and other intangible assets (net of accumulated amortization of $37,162 and $35,281 at June 30, 2013 and December 31, 2012, respectively)	375,207	392,822
Other assets	294,773	242,153
Total Assets	2,985,052	3,048,380
Liabilities:
Deposits and other customer payables	385,985	269,763
Accrued compensation and benefits	336,194	467,578
Senior debt	1,076,850	1,076,850
Capital lease obligations	16,168	17,863
Related party payables	203,892	209,072
Other liabilities	483,260	478,167
Total Liabilities	2,502,349	2,519,293
Commitments and contingencies
MEMBERS' EQUITY
Members' Equity	524,447	545,572
Accumulated other comprehensive loss, net of tax	(113,053)	(92,393)
Noncontrolling interests	71,309	75,908
Total Members' Equity	482,703	529,087
Total Liabilities and Members' Equity	2,985,052	3,048,380
Lazard Group LLC [Member]
MEMBERS' EQUITY
Members' Equity	$ 411,394	$ 453,179

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Allowance for doubtful accounts receivables	$ 24,593	$ 23,017
Property, accumulated amortization and depreciation	232,487	225,861
Goodwill and other intangible assets, accumulated amortization	$ 37,162	$ 35,281
Class A Common Stock [Member]
Lazard Ltd common stock, shares	4,587,102	10,230,729
Lazard Ltd common stock, cost	$ 140,700	$ 295,442

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
REVENUE
Investment banking and other advisory fees	$ 260,241	$ 240,306	$ 428,345	$ 513,847
Money management fees	234,921	201,642	466,058	406,203
Interest income	2,923	4,596	5,596	9,325
Other	14,500	13,582	35,964	33,899
Total revenue	512,585	460,126	935,963	963,274
Interest expense	22,258	23,189	44,452	45,809
Net revenue	490,327	436,937	891,511	917,465
OPERATING EXPENSES
Compensation and benefits	331,117	283,380	608,843	621,683
Occupancy and equipment	39,725	28,334	69,024	54,611
Marketing and business development	25,377	22,322	43,569	50,589
Technology and information services	20,134	21,275	43,114	41,668
Professional services	9,690	12,467	18,017	21,564
Fund administration and outsourced services	15,388	12,670	28,853	26,121
Amortization of intangible assets related to acquisitions	1,004	2,560	1,881	3,678
Other	5,956	8,475	15,050	19,519
Total operating expenses	448,391	391,483	828,351	839,433
OPERATING INCOME	41,936	45,454	63,160	78,032
Provision for income taxes	6,779	10,535	9,801	15,369
NET INCOME	35,157	34,919	53,359	62,663
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	264	1,647	2,361	3,826
NET INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	$ 34,893	$ 33,272	$ 50,998	$ 58,837

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Statement Of Partners Capital [Abstract]
NET INCOME	$ 35,157	$ 34,919	$ 53,359	$ 62,663
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments	(8,828)	(19,436)	(20,964)	2,153
Amortization of interest rate hedge	263	263	527	527
Employee benefit plans:
Actuarial gain (loss) (net of tax benefit (expense) of $(84) and $1,443 for the three months ended June 30, 2013 and 2012, respectively, and $1,711 and $2,725 for the six months ended June 30, 2013 and 2012, respectively)	704	(3,457)	(2,719)	(6,054)
Adjustment for items reclassified to earnings (net of tax expense of $400 and $281 for the three months ended June 30, 2013 and 2012, respectively, and $802 and $578 for the six months ended June 30, 2013 and 2012, respectively)	1,212	826	2,430	1,641
OTHER COMPREHENSIVE LOSS, NET OF TAX	(6,649)	(21,804)	(20,726)	(1,733)
COMPREHENSIVE INCOME	28,508	13,115	32,633	60,930
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	187	1,517	2,295	3,764
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	$ 28,321	$ 11,598	$ 30,338	$ 57,166

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Statement Of Partners Capital [Abstract]
Tax benefit (expense) on actuarial gain (loss), employee benefit plans	$ (84)	$ 1,443	$ 1,711	$ 2,725
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 400	$ 281	$ 802	$ 578

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME	$ 53,359	$ 62,663
Non-cash items included in net income:
Depreciation and amortization of property	16,593	14,800
Amortization of deferred expenses, share based incentive compensation and interest rate hedge	166,168	172,439
Amortization of intangible assets related to acquisitions	1,881	3,678
Loss on sale of intercompany receivable		5,638
(Increase) decrease in operating assets:
Deposits with banks	(55,064)	(47,391)
Cash deposited with clearing organizations and other segregated cash	3,242	(4,583)
Receivables-net	(59,074)	7,049
Investments	(38,416)	(67,352)
Other assets	(89,700)	(58,028)
Increase (decrease) in operating liabilities:
Deposits and other payables	115,083	63,420
Accrued compensation and benefits and other liabilities	(100,961)	(125,470)
Net cash provided by operating activities	13,111	26,863
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(41,347)	(48,941)
Disposals of property	5,739	2,053
Net cash used in investing activities	(35,608)	(46,888)
Proceeds from:
Contribution from noncontrolling interests	324	784
Excess tax benefits from share-based incentive compensation	2,211
Sale of intercompany receivable		81,105
Other financing activities		10
Payments for:
Capital lease obligations	(1,542)	(1,336)
Distributions to noncontrolling interests	(7,218)	(10,957)
Purchase of Lazard Ltd Class A common stock	(50,447)	(68,169)
Distributions to members	(30,725)	(45,427)
Settlement of vested share based incentive compensation	(119,782)	(29,421)
Other financing activities	(750)	(933)
Net cash used in financing activities	(207,929)	(74,344)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(19,373)	(1,246)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(249,799)	(95,615)
CASH AND CASH EQUIVALENTS-January 1	845,503	820,984
CASH AND CASH EQUIVALENTS-June 30	$ 595,704	$ 725,369

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS' EQUITY - USD ($)
$ in Thousands

Total

Members' Equity [Member]

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

Total Lazard Group Members' Equity [Member]

Noncontrolling Interests [Member]

Balance at Dec. 31, 2011

^[1]

$ 718,267

$ 693,596

$ (79,252)

$ 614,344

$ 103,923

Comprehensive income (loss):

NET INCOME

62,663

58,837

3,826

Other comprehensive income (loss)-net of tax:

Currency translation adjustments

2,153

2,215

(62)

Amortization of interest rate hedge

527

Employee benefit plans:

Net actuarial loss

(6,054)

Adjustments for items reclassified to earnings

1,641

Comprehensive income

60,930

57,166

3,764

Amortization of share-based incentive compensation

152,486

Distributions to members and noncontrolling interests, net

(55,600)

(45,427)

(10,173)

Deconsolidation of investment companies

(10,607)

Purchase of Lazard Ltd Class A common stock

(68,169)

Delivery of Lazard Ltd Class A common stock in connection with shared-based incentive compensation awards and related tax benefit or expense

(30,393)

Business acquisitions and related equity transactions:

Lazard Ltd Class A common stock issuable (including related amortization)

3,018

Other

(925)

Balance at Jun. 30, 2012

^[1]

769,007

763,023

(80,923)

682,100

86,907

Balance at Dec. 31, 2012

^[2]

529,087

545,572

(92,393)

453,179

75,908

Comprehensive income (loss):

NET INCOME

53,359

50,998

2,361

Other comprehensive income (loss)-net of tax:

Currency translation adjustments

(20,964)

(20,898)

(66)

Amortization of interest rate hedge

527

Employee benefit plans:

Net actuarial loss

(2,719)

Adjustments for items reclassified to earnings

2,430

Comprehensive income

32,633

30,338

2,295

Amortization of share-based incentive compensation

128,081

Distributions to members and noncontrolling interests, net

(37,619)

(30,725)

(6,894)

Purchase of Lazard Ltd Class A common stock

(50,447)

Delivery of Lazard Ltd Class A common stock in connection with shared-based incentive compensation awards and related tax benefit or expense

(118,920)

Business acquisitions and related equity transactions:

Lazard Ltd Class A common stock issuable (including related amortization)

638

Other

(750)

Balance at Jun. 30, 2013

^[2]

$ 482,703

$ 524,447

$ (113,053)

$ 411,394

$ 71,309

[1]	Includes 129,766,090 common membership interests issued at both January 1 and June 30, 2012. Also includes profit participation interests and two managing member interests issued at each such date.
[2]	Includes 129,766,090 common membership interests issued at both January 1 and June 30, 2013. Also includes profit participation interests and two managing member interests issued at each such date.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Dec. 31, 2011
Statement Of Stockholders Equity [Abstract]
Tax benefit or expenses related to delivery of Class A Common Stock in connection with share-based incentive compensation	$ 862	$ 972
Common membership interests	129,766,090	129,766,090	129,766,090	129,766,090

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Organization and Basis of Presentation

1.	*ORGANIZATION AND BASIS OF PRESENTATION*

Organization

The accompanying condensed consolidated financial statements are those of Lazard Group LLC and its subsidiaries (collectively referred to with its subsidiaries as “Lazard Group” or the “Company”). Lazard Group is a Delaware limited liability company and is governed by an Operating Agreement dated as of May 10, 2005, as amended (the “Operating Agreement”).

Lazard Ltd, a Bermuda holding company, and its subsidiaries (collectively referred to as “Lazard Ltd”), including its indirect investment in Lazard Group LLC, is one of the world’s preeminent financial advisory and asset management firms and has long specialized in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, governments, institutions, partnerships and individuals.

Lazard Ltd indirectly held approximately 99.5% and 98.8% of all outstanding Lazard Group common membership interests as of June 30, 2013 and December 31, 2012, respectively. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group. LAZ-MD Holdings LLC (“LAZ-MD Holdings”), an entity owned by Lazard Group’s current and former managing directors, held approximately 0.5% and 1.2% of the outstanding Lazard Group common membership interests as of June 30, 2013 and December 31, 2012, respectively. Additionally, LAZ-MD Holdings was the sole owner of the one issued and outstanding share of Lazard Ltd’s Class B common stock (the “Class B common stock”) which provided LAZ-MD Holdings with approximately 0.5% and 1.2% of the voting power but no economic rights in Lazard Ltd as of June 30, 2013 and December 31, 2012, respectively. Subject to certain limitations, LAZ-MD Holdings’ interests in Lazard Group are exchangeable for Lazard Ltd Class A common stock, par value $0.01 per share (“Class A common stock”).

Lazard Group’s principal operating activities are included in two business segments:

•

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

•

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

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

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

Basis of Presentation

The accompanying condensed consolidated financial statements of Lazard Group 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 Group’s Annual Report on Form 10-K for the year ended December 31, 2012 (the “Form 10-K”). The accompanying December 31, 2012 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. 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, 2013 are not necessarily indicative of the results to be expected for any future interim or annual period.

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

The Company’s policy is to consolidate (i) entities in which it has a controlling financial interest, (ii) variable interest entities (“VIEs”) where the Company has a variable interest and is deemed to be the primary beneficiary and (iii) limited partnerships where the Company is the general partner, unless the presumption of control is overcome. When the Company does not have a controlling interest in an entity, but exerts significant influence over 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.

- Definition

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

+ References

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+ Details

Recent Accounting Developments

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Recent Accounting Developments

2.	*RECENT ACCOUNTING DEVELOPMENTS*

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

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

Receivables

6 Months Ended

Jun. 30, 2013

Text Block [Abstract]

Receivables

3.	*RECEIVABLES*

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

Receivables are stated net of an estimated allowance for doubtful accounts of $24,593 and $23,017 at June 30, 2013 and December 31, 2012, respectively, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. The Company recorded bad debt expense (recoveries) of $1,694 and $1,842 for the three month and six month periods ended June 30, 2013, respectively, and $(133) and $1,148 for the three month and six month periods ended June 30, 2012, respectively. In addition, the Company recorded charge-offs, foreign currency translation and other adjustments, which resulted in a net increase (decrease) to the allowance for doubtful accounts of $94 and $(266) for the three month and six month periods ended June 30, 2013, respectively, and $(283) and $158 for the three month and six month periods ended June 30, 2012, respectively. At June 30, 2013 and December 31, 2012, the Company had receivables past due or deemed uncollectible of $27,831 and $25,604, respectively.

Of the Company’s total receivables at June 30, 2013 and December 31, 2012, $74,632 and $76,481, respectively, represented interest-bearing financing fee receivables. In addition, at June 30, 2013 and December 31, 2012, the Company had interest-bearing related party receivables of $104,953 and $101,833, respectively. 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 $454,110 and $404,316 at June 30, 2013 and December 31, 2012, respectively, approximates fair value.

Investments

6 Months Ended

Jun. 30, 2013

Investments Schedule [Abstract]

Investments

4.	*INVESTMENTS*

The Company’s investments and securities sold, not yet purchased, consisted of the following at June 30, 2013 and December 31, 2012:


	June 30, 2013		December 31, 2012
Debt (including interest-bearing deposits of $514 and $578, respectively)	$	7,508	$	5,948

Equities		51,957		44,992

Funds:
Alternative investments (a)		45,739		57,890
Debt (a)		37,245		19,918
Equity (a)		175,736		154,310
Private equity		112,833		112,444

		371,553		344,562

Equity method		7,101		7,012

Total investments		438,119		402,514
Less:
Interest-bearing deposits		514		578
Equity method		7,101		7,012

Investments, at fair value	$	430,504	$	394,924

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	3,263	$	2,755

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $7,631, $31,013 and $121,408, respectively, at June 30, 2013 and $5,054, $18,615 and $76,907, respectively, at December 31, 2012, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests (“Lazard Fund Interests”) and other similar deferred compensation arrangements. Lazard Fund Interests represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds (see Notes 6 and 12 of Notes to Condensed Consolidated Financial Statements).

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

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

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

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

Equity funds primarily consist of seed investments in funds related to our Asset Management business, which are invested in equity securities, and amounts related to Lazard Fund Interests discussed above.

Private equity investments include those owned by Lazard and those consolidated but not owned by Lazard. Private equity investments owned by Lazard are primarily comprised of investments in private equity funds. Such investments primarily include (i) a mezzanine fund, which invests in mezzanine debt of a diversified selection of small- to mid-cap European companies, (ii) a fund targeting significant noncontrolling-stake investments in established private companies, (iii) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a fund primarily making equity and buyout investments in middle market companies and (iv) Lazard Australia Corporate Opportunities Fund 2 (“COF2”), a Lazard-managed Australian fund targeting Australasian mid-market investments.

Private equity investments consolidated but not owned by Lazard relate to the economic interests that are owned by the management team and other investors in the Edgewater Funds (“Edgewater”) which totaled $9,685 and $11,490 at June 30, 2013 and December 31, 2012, respectively (see Note 10 of Notes to Condensed Consolidated Financial Statements).

During the three month and six month periods ended June 30, 2013 and 2012, the Company reported in revenue-other on its condensed consolidated statements of operations gross unrealized investment gains and losses pertaining to “trading” securities as follows (including, for the three month and six month periods ended June 30, 2012, restated amounts pertaining to certain non-broker dealer subsidiaries):


	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2013		2012		2013		2012
Gross unrealized investment gains	$	–	$	84	$	3,748	$	8,289
Gross unrealized investment losses	$	8,806	$	8,324	$	5,624	$	2,346

Fair Value Measurements

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

5.	*FAIR VALUE MEASUREMENTS*

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

Level 1.

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

Level 2.

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

Level 3.

Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. Items included in Level 3 include securities or other financial assets whose trading volume and level of activity have significantly decreased when compared with normal market activity and there is no longer sufficient frequency or volume to provide pricing information on an ongoing basis, as well as assets valued based on NAV or its equivalent, but not redeemable within the near term as a result of redemption restrictions.

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

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

The fair value of investments in alternative investment funds is classified as either Level 2 or Level 3 depending on the time frame of any applicable redemption restriction, and is valued at NAV or its equivalent, which is primarily determined based on information provided by external fund administrators.

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

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

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

The fair values of derivatives entered into by the Company are classified as Level 2 and are based on the values of the related underlying assets, indices or reference rates as follows - the fair value of forward foreign currency exchange rate contracts is a function of the spot rate and the interest rate differential of the currency from the trade date to settlement date; the fair value of equity and fixed income swaps is based on the change in fair values of the related underlying equity security, financial instrument or index and a specified notional holding; the fair value of interest rate swaps is based on the interest rate yield curve; and the fair value of derivative liabilities related to Lazard Fund Interests and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. See Note 6 of Notes to Condensed Consolidated Financial Statements.

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

The following tables present the classification of investments and certain other assets and liabilities measured at fair value on a recurring basis as of June 30, 2013 and December 31, 2012 within the fair value hierarchy:


	June 30, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,093	$	5,901	$	–	$	6,994
Equities		51,320		–		637		51,957
Funds:
Alternative investments		–		45,728		11		45,739
Debt		37,241		4		–		37,245
Equity		169,072		6,664		–		175,736
Private equity		–		–		112,833		112,833
Derivatives		–		6,947		–		6,947

Total	$	258,726	$	65,244	$	113,481	$	437,451

Liabilities:
Securities sold, not yet purchased	$	3,263	$	–	$	–	$	3,263
Derivatives		–		152,514		–		152,514

Total	$	3,263	$	152,514	$	–	$	155,777


	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,443	$	3,927	$	–	$	5,370
Equities		44,802		–		190		44,992
Funds:
Alternative investments		–		54,433		3,457		57,890
Debt		19,914		4		–		19,918
Equity		145,231		9,069		10		154,310
Private equity		–		–		112,444		112,444
Derivatives		–		933		–		933

Total	$	211,390	$	68,366	$	116,101	$	395,857

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

Total	$	2,696	$	102,551	$	–	$	105,247

There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the three month and six month periods ended June 30, 2013 and 2012.

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, 2013 and 2012:


	Three Months Ended June 30, 2013
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	184	$	6	$	445	$	–		$	2		$	637
Alternative investment funds		1,304		34		–		(1,327	)		–			11
Private equity funds		110,496		3,056		3,259		(4,612	)		634			112,833

Total Level 3 Assets	$	111,984	$	3,096	$	3,704	$	(5,939	)	$	636		$	113,481


	Six Months Ended June 30, 2013
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	190	$	6	$	445	$	–		$	(4	)	$	637
Alternative investment funds		3,457		128		–		(3,574	)		–			11
Equity funds		10		–		–		(10	)		–			–
Private equity funds		112,444		3,738		3,259		(5,868	)		(740	)		112,833

Total Level 3 Assets	$	116,101	$	3,872	$	3,704	$	(9,452	)	$	(744	)	$	113,481


	Three Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	217	$	5		$	–	$	(30	)	$	(11	)	$	181
Alternative investment funds		5,915		(38	)		–		(1,251	)		–			4,626
Private equity funds		116,563		4,786			56		(4,873	)		(2,541	)		113,991

Total Level 3 Assets	$	122,695	$	4,753		$	56	$	(6,154	)	$	(2,552	)	$	118,798

	Six Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	211	$	5		$	–	$	(30	)	$	(5	)	$	181
Alternative investment funds		10,171		89			10		(5,644	)		–			4,626
Private equity funds		122,718		12,350			2,752		(22,745	)		(1,084	)		113,991

Total Level 3 Assets	$	133,100	$	12,444		$	2,762	$	(28,419	)	$	(1,089	)	$	118,798

(a)	Earnings for the three month and six month periods ended June 30, 2013 and the three month and six month periods ended June 30, 2012 include net unrealized gains of $2,657, $3,327, $3,483 and $9,563, respectively.

Fair Value of Certain Investments Based on NAV—The Company’s Level 2 and Level 3 investments at June 30, 2013 and December 31, 2012 include certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value. Information with respect thereto was as follows:

June 30, 2013

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair Value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds

45,739

–

(a)

<30-120 days

Debt funds

–

(b)

30 days

Equity funds

6,664

–

(c)

<30-90 days

Private equity funds

112,833

27,649

100%

10%

38%

52%

Total

165,240

27,649

Redemption frequency as follows:

(a)	daily (1%), weekly (11%), monthly (54%) and quarterly (34%)

(b)	daily (100%)

(c)	monthly (100%)

December 31, 2012

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair Value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds

57,890

–

(a)

<30-120 days

Debt funds

–

(b)

30 days

Equity funds

9,079

–

–%

(c)

30-120 days

Private equity funds

112,444

31,482

100%

13%

39%

48%

Total

179,417

31,482

Redemption frequency as follows:

(a)	daily (10%), weekly (9%), monthly (38%) and quarterly (43%)

(b)	daily (100%)

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

See Note 4 of Notes to Condensed Consolidated Financial Statements for discussion of significant investment strategies for investments valued based on NAV.

Investment Capital Funding Commitments—At June 30, 2013, the maximum unfunded commitments by the Company for capital contributions to investment funds related to (i) Corporate Partners II Limited (“CP II”), amounting to $1,940 for potential “follow-on investments” and/or for fund expenses through the earlier of February 25, 2017 or the liquidation of the fund, (ii) EGCP III, amounting to $18,500, through the earlier of October 12, 2016 (i.e., the end of the investment period) for investments and/or expenses (with a portion of the undrawn amount of such commitment as of that date remaining committed until October 12, 2023 in respect of “follow-on investments” and/or fund expenses) or the liquidation of the fund and (iii) COF2, amounting to $7,209, through the earlier of November 11, 2016 (i.e., the end of the investment period) for investments and/or fund expenses (with a portion of the undrawn amount of such commitment as of that date remaining committed until November 11, 2019 in respect of “follow-on investments” and/or fund expenses) or the liquidation of the fund.

Derivatives

6 Months Ended

Jun. 30, 2013

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

In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests awards and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments, adjusted for estimated forfeitures, and is included in “accrued compensation and benefits” in the consolidated statements of financial condition. Changes in the fair value of the derivative liabilities are included in “compensation and benefits” in the consolidated statements of operations, the impact of which equally offsets the changes in the fair value of investments which are currently expected to be delivered upon settlement of Lazard Fund Interests awards and other similar deferred compensation arrangements, which are reported in “revenue-other” in the 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 Lazard Fund Interests and other similar deferred compensation arrangements (see Note 12 of Notes to Condensed Consolidated Financial Statements) on the accompanying condensed consolidated statements of financial condition as of June 30, 2013 and December 31, 2012:


	June 30, 2013		December 31, 2012
Derivative Assets:
Forward foreign currency exchange rate contracts	$	626	$	893
Equity and fixed income swaps and other (a)		6,321		40

	$	6,947	$	933

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,289	$	322
Interest rate swaps		–		235
Equity and fixed income swaps (a)		–		4,342
Lazard Fund Interests and other similar deferred compensation arrangements		151,225		97,593

	$	152,514	$	102,492

(a)

For equity and fixed income swaps, amounts represent the netting of gross derivative assets and liabilities of $6,332 and $11 as of June 30, 2013, respectively, and $0 and $4,342 as of December 31, 2012, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $4,574 and $15,304 as of June 30, 2013 and December 31, 2012, respectively.

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2013 and 2012, were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
Forward foreign currency exchange rate contracts	$	(1,626	)	$	4,051	$	3,605		$	2,129
Lazard Fund Interests and other similar deferred compensation arrangements		3,477			2,856		(248	)		89
Equity and fixed income swaps and other		3,100			3,913		(1,388	)		(5,944	)

Total	$	4,951		$	10,820	$	1,969		$	(3,726	)

- 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
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-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-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
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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
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Property

6 Months Ended

Jun. 30, 2013

Property Plant And Equipment [Abstract]

Property

7.	*PROPERTY*

At June 30, 2013 and December 31, 2012, property consisted of the following:


	Estimated Depreciable Life in Years		June 30, 2013		December 31, 2012
Buildings		33	$	165,106	$	166,560
Leasehold improvements		3-20		156,915		143,408
Furniture and equipment		3-10		135,768		122,124
Construction in progress				16,646		18,801

Total				474,435		450,893
Less - accumulated depreciation and amortization				232,487		225,861

Property			$	241,948	$	225,032

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2013

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, 2013 and December 31, 2012 are presented below:


	June 30, 2013		December 31, 2012
Goodwill	$	348,549	$	364,328
Other intangible assets (net of accumulated amortization)		26,658		28,494

	$	375,207	$	392,822

At June 30, 2013 and December 31, 2012, goodwill of $284,008 and $299,787, respectively, was attributable to the Company’s Financial Advisory segment and, at each such respective date, $64,541 of goodwill was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the six month periods ended June 30, 2013 and 2012 are as follows:


	Six Months Ended June 30,
	2013			2012
Balance, January 1	$	364,328		$	356,657
Business acquisition		1,440			4,272
Foreign currency translation adjustments		(17,219	)		64

Balance, June 30	$	348,549		$	360,993

The gross cost and accumulated amortization of other intangible assets as of June 30, 2013 and December 31, 2012, by major intangible asset category, are as follows:


	June 30, 2013						December 31, 2012
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	10,726	$	20,014	$	30,740	$	10,678	$	20,062
Management fees, customer relationships and non-compete agreements		33,080		26,436		6,644		33,035		24,603		8,432

	$	63,820	$	37,162	$	26,658	$	63,775	$	35,281	$	28,494

Amortization expense of intangible assets for the three month and six month periods ended June 30, 2013 was $1,004 and $1,881, respectively, and for the three month and six month periods ended June 30, 2012 was $2,560 and $3,678, respectively. Estimated future amortization expense is as follows:


Year Ending December 31,	Amortization Expense (a)
2013 (July 1 through December 31)	$	6,761
2014		8,278
2015		6,438
2016		5,181

Total amortization expense	$	26,658

(a)

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

- Definition

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

+ References + Details

Senior Debt

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Senior Debt

9.	*SENIOR DEBT*

Senior debt was comprised of the following as of June 30, 2013 and December 31, 2012:


	Initial Principal Amount		Maturity Date		Annual Interest Rate			Outstanding As Of
	Initial Principal Amount		Maturity Date		Annual Interest Rate			June 30, 2013		December 31, 2012
Lazard Group 7.125% Senior Notes	$	550,000		5/15/15		7.125	%	$	528,500	$	528,500
Lazard Group 6.85% Senior Notes		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group Credit Facility		150,000		9/25/15		0.84	%		–		–

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

On September 25, 2012, Lazard Group entered into a $150,000, three-year senior revolving credit facility with a group of lenders (the “Credit Facility”), which expires in September 2015. The Credit Facility replaced a similar revolving credit facility which was terminated as a condition to effectiveness of the Credit Facility. Interest rates under the Credit Facility vary and are based on either a Federal Funds rate or a Eurodollar rate, in each case plus an applicable margin. As of June 30, 2013, the annual interest rate for a loan accruing interest (based on the Federal Funds overnight rate), including the applicable margin, was 0.84%. At June 30, 2013 and December 31, 2012, no amounts were outstanding under the Credit Facility.

The Credit Facility contains customary terms and conditions, including certain financial covenants. In addition, the Credit Facility, the indenture and the supplemental indentures relating to Lazard Group’s senior notes, contain certain covenants, events of default and other customary provisions, including a customary make-whole provision in the event of early redemption, where applicable. As of June 30, 2013, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured.

As of June 30, 2013, the Company had approximately $262,000 in unused lines of credit available to it, including the Credit Facility, and unused lines of credit available to LFB of approximately $52,000 (at June 30, 2013 exchange rates) and Edgewater of $55,000. In addition, LFB has access to the Eurosystem Covered Bond Purchase Program of the Banque de France.

The Company’s senior debt at June 30, 2013 and December 31, 2012 is carried at historical amounts. At those dates, the fair value of such senior debt outstanding was approximately $1,180,000 and $1,207,000, respectively, and exceeded the aggregate carrying value by approximately $103,000 and $130,000, respectively. The fair value of the Company’s senior debt was 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, 2013

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. In the opinion of management, the fulfillment of such commitments, in accordance with their terms, will not have a material adverse effect on the Company’s consolidated financial position or results of operations.

Guarantees—In the normal course of business, LFB provides indemnifications to third parties to protect them in the event of non-performance by its clients. At June 30, 2013, LFB had $4,679 of such indemnifications and held $3,837 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 Initial Shares are subject to forfeiture provisions that lapse only upon the achievement of certain performance thresholds and transfer restrictions during the four year period ending December 2014. The Earnout Shares will be issued only if certain performance thresholds are met. As of June 30, 2013 and December 31, 2012, 1,371,992 and 1,209,154 shares, respectively, have been earned because applicable performance thresholds have been satisfied. Such shares are no longer subject to any contingencies. As of December 31, 2012, 686,004 of such shares have been settled, and no additional shares have been settled as of June 30, 2013.

Consideration Relating To Other Business Acquisitions—For a business acquired in 2013, the Company is obligated to issue a maximum of 107,617 shares of Class A common stock if certain performance thresholds are achieved.

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

For a business acquired in 2011, the Company is obligated to pay earnout consideration if certain performance thresholds are achieved. The maximum potential earnout consideration payable by the Company cannot exceed $7,000. Through June 30, 2013, no cash payments relating to the earnout consideration were required.

Other Commitments—In the normal course of business, LFB enters into commitments to extend credit, predominately at variable interest rates. These commitments have varying expiration dates, are fully collateralized and generally contain requirements for the counterparty to maintain a minimum collateral level. These commitments may not represent future cash requirements as they may expire without being drawn upon. At June 30, 2013, these commitments were not material.

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

The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, LFB enters into underwriting commitments in which it participates as a joint underwriter. The settlement of such transactions are not expected to have a material adverse effect on the Company’s consolidated financial position or results of operations. At June 30, 2013, LFB had no such underwriting commitments.

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

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

Members' Equity

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Members' Equity

11.

MEMBERS’ EQUITY

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

During the six month periods ended June 30, 2013 and 2012, Lazard Group distributed the following amounts to LAZ-MD Holdings and the subsidiaries of Lazard Ltd (none of which related to tax distributions):


	Six Months Ended June 30,
	2013		2012
LAZ-MD Holdings	$	387	$	2,416
Subsidiaries of Lazard Ltd		30,338		43,011

	$	30,725	$	45,427

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

Exchanges of Lazard Group Common Membership Interests—During the six month periods ended June 30, 2013 and 2012, Lazard Ltd issued 839,658 and 186,701 shares of Class A common stock, respectively, in connection with the exchanges of a like number of Lazard Group common membership interests (received from members of LAZ-MD Holdings in exchange for a like number of LAZ-MD Holdings exchangeable interests).

Share Repurchase Program—In February 2011, October 2011, April 2012 and October 2012 the Board of Directors of Lazard Ltd authorized, on a cumulative basis, the repurchase of up to $250,000, $125,000, $125,000 and $200,000, respectively, in aggregate cost of Class A common stock and Lazard Group common membership interests through December 31, 2012, December 31, 2013, December 31, 2013 and December 31, 2014, respectively. The Company’s prior share repurchase authorizations expired on December 31, 2009 and December 31, 2011. The Company expects that the share repurchase program, with respect to the Class A common stock, will continue to be used, among other ways, to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2005 Equity Incentive Plan (the “2005 Plan”) and the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”). Pursuant to such authorizations, purchases have been made in the open market or through privately negotiated transactions. During the six month period ended June 30, 2013, the Company made purchases of 1,434,657 Class A common shares, at an aggregate cost of $50,447 (no Lazard Group common membership interests were purchased during such six month period).

As of June 30, 2013, $103,619 of the current share repurchase amount authorized as of such date remained available under the share repurchase program, all of which expires December 31, 2014. In addition, under the terms of the 2005 Plan and the 2008 Plan, upon the vesting of restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”) and delivery of restricted Class A common stock, shares of Class A common stock may be withheld by the Company to cover its minimum statutory tax withholding requirements (see Note 12 of Notes to Condensed Consolidated Financial Statements).

Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”)—The table below reflects the components of AOCI at June 30, 2013 and activity during the six month period then ended:


	Currency Translation Adjustments			Interest Rate Hedge			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Group AOCI
Balance, January 1, 2013	$	38,657		$	(2,502	)	$	(128,536	)	$	(92,381	)	$	12		$	(92,393	)

Activity January 1 to June 30, 2013:
Other comprehensive loss before reclassifications		(20,964	)		–			(2,719	)		(23,683	)		(66	)		(23,617	)
Adjustments for items reclassified to earnings, net of tax		–			527			2,430			2,957			–			2,957

Net other comprehensive income (loss)		(20,964	)		527			(289	)		(20,726	)		(66	)		(20,660	)

Balance, June 30, 2013	$	17,693		$	(1,975	)	$	(128,825	)	$	(113,107	)	$	(54	)	$	(113,053	)

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month and six month periods ended June 30, 2013:


	Three Months Ended June 30,			Six Months Ended June 30,
	2013			2013
Amortization of interest rate hedge	$	263	(a)	$	527	(a)

Amortization expense relating to employee benefit plans		1,612	(b)		3,232	(b)
Less - tax expense		400			802

Net of tax		1,212			2,430

Total reclassifications, net of tax	$	1,475		$	2,957

(a)	Included in “interest expense” on the condensed consolidated statements of operations.

(b)	Included in the computation of net periodic benefit cost (see Note 13 of Notes to Condensed Consolidated Financial Statements). Such amount is included in “compensation and benefits” expense on the condensed consolidated statement 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, 2013 and 2012 and noncontrolling interests as of June 30, 2013 and December 31, 2012 in the Company’s condensed consolidated financial statements:


	Net Income (Loss) Attributable To Noncontrolling Interests
	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Edgewater	$	287		$	1,698		$	2,653		$	3,872
Other		(23	)		(51	)		(292	)		(46	)

Total	$	264		$	1,647		$	2,361		$	3,826


	Noncontrolling Interests As Of
	June 30, 2013		December 31, 2012
Edgewater	$	71,020	$	75,262
Other		289		646

Total	$	71,309	$	75,908

- 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 235
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-Section S99
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Incentive Plans

6 Months Ended

Jun. 30, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Incentive Plans

12.

INCENTIVE PLANS

Share-Based Incentive Plan Awards

A description of Lazard Ltd’s 2005 Plan and 2008 Plan and activity with respect thereto during the six month periods ended June 30, 2013 and 2012, is presented below.

Shares Available Under the 2005 Plan and 2008 Plan

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

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

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, 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:


	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Share-based incentive awards:
RSUs (a)	$	52,147	$	63,428	$	117,089	$	145,319
PRSUs		1,995		–		2,433		–
Restricted stock (b)		1,824		1,704		7,085		5,879
DSUs		701		609		737		644

Total	$	56,667	$	65,741	$	127,344	$	151,842

(a)	Includes, during the three month and six month periods ended June 30, 2013, $4,644 and $9,099, respectively, relating to the Cost Saving Initiatives (see Note 14 of Notes to Condensed Consolidated Financial Statements).

(b)	Includes, during the three month and six month periods ended June 30, 2013, $14 and $247, respectively, relating to the Cost Saving Initiatives.

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

The Company’s incentive plans are described below.

RSUs and DSUs

RSUs generally require future service as a condition for the delivery of the underlying shares of Class A common stock (unless the recipient is then eligible for retirement under the Company’s retirement policy) and convert into Class A common stock on a one-for-one basis after the stipulated vesting periods. 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 periods.

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 ordinary quarterly dividends paid on Class A common stock during such period. During the six month periods ended June 30, 2013 and 2012, dividend participation rights required the issuance of 131,669 and 310,756 RSUs, respectively.

Non-executive members of the Board of Directors of Lazard Group (who are the same non-executive directors of Lazard Ltd) receive approximately 55% of their annual compensation for service on the Board of Directors and its committees in the form of DSUs, which resulted in 39,315 and 49,735 DSUs granted during the six month periods ended June 30, 2013 and 2012, respectively. Their remaining compensation is payable in cash, which they may elect to receive in the form of additional DSUs under the Directors’ Fee Deferral Unit Plan described below. DSUs are convertible into Class A common stock at the time of cessation of service to the Board. DSUs include a cash dividend participation right equivalent to any ordinary quarterly dividends paid on Class A common stock, and resulted in nominal cash payments for the six month periods ended June 30, 2013 and 2012.

On May 9, 2006, the Board of Directors adopted the Directors’ Fee Deferral Unit Plan, which allows the Company’s Non-Executive Directors to elect to receive additional DSUs in lieu of some or all of their cash fees. The number of DSUs that shall be granted to a Non-Executive Director pursuant to this election will equal the value of cash fees that the applicable Non-Executive Director has elected to forego pursuant to such election, divided by the market value of a share of Class A common stock on the date on which the foregone cash fees would otherwise have been paid. During the six month periods ended June 30, 2013 and 2012, 3,916 and 5,489 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, 2013 and 2012:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2013		21,481,131		$	33.92		204,496	$	31.47
Granted (including 131,669 RSUs relating to dividend participation)		4,689,312		$	36.95		43,231	$	34.09
Forfeited		(223,346	)	$	34.64		–		–
Vested		(8,589,999	)	$	34.99		–		–

Balance, June 30, 2013		17,357,098		$	34.20		247,727	$	31.93


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

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

In connection with RSUs which vested during the six month periods ended June 30, 2013 and 2012, the Company satisfied its minimum statutory tax withholding requirements in lieu of issuing 3,309,900 and 967,828 shares of Class A common stock in the respective six month periods. Accordingly, 5,280,099 and 2,664,104 shares of Class A common stock held by the Company were delivered during the six month periods ended June 30, 2013 and 2012, respectively.

During the fourth quarter of 2012, 958,213 RSUs were modified through forward purchase agreements into liability awards. Such liability awards were settled on March 1, 2013 for $28,612. During the six month period ended June 30, 2013, compensation expense of $1,690 was recorded for such liability awards.

As of June 30, 2013, unrecognized RSU compensation expense, adjusted for estimated forfeitures, was approximately $236,000, with such unrecognized compensation expense expected to be recognized over a weighted average period of approximately 1.5 years subsequent to June 30, 2013.

Restricted Stock

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during the six month periods ended June 30, 2013 and 2012:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2013		1,972,609		$	34.85
Granted		368,736		$	36.74
Forfeited		(35,183	)	$	33.29
Vested		(1,727,121	)	$	36.00

Balance, June 30, 2013		579,041		$	32.73


Balance, January 1, 2012		95,332		$	37.63
Granted/Exchanged		577,323		$	29.25
Forfeited		(18,921	)	$	29.51
Vested		(131,743	)	$	28.63

Balance, June 30, 2012		521,991		$	30.93

In connection with shares of restricted Class A common stock that vested during the six month periods ended June 30, 2013 and 2012, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 17,915 and 28,129 shares of Class A common stock during the respective six month periods. Accordingly, 1,709,206 and 103,614 shares of Class A common stock held by the Company were delivered during the six month periods ended June 30, 2013 and 2012, respectively.

The awards include a cash dividend participation right equivalent to any ordinary quarterly dividends paid on Class A common stock during the period, which will vest concurrently with the underlying restricted stock award. At June 30, 2013, unrecognized restricted stock expense was approximately $11,000, with such expense to be recognized over a weighted average period of approximately 1.7 years subsequent to June 30, 2013.

PRSUs

During the six month period ended June 30, 2013, the Company granted 448,128 PRSUs. The PRSUs are subject to both performance-based and service-based vesting conditions. The number of shares of Class A common stock that a recipient will receive upon vesting of a PRSU will be calculated by reference to certain performance metrics that relate to the Company’s performance over the three-year period beginning on January 1, 2012 and ending on December 31, 2014. The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU can range from zero to three times the target number. The PRSUs granted in 2013 will vest 33% in March 2015 and 67% in March 2016, provided the applicable service and performance conditions are satisfied. In addition, the performance metrics applicable to each PRSU will be evaluated on an annual basis at the end of each fiscal year during the performance period and, if the Company has achieved a threshold level of performance with respect to the fiscal year, 25% of the target number of shares of Class A common stock subject to each PRSU will no longer be at risk of forfeiture based on the achievement of performance criteria. PRSUs generally include dividend participation rights.

Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value of $36.11 per share. As of June 30, 2013, the total estimated unrecognized compensation expense for PRSUs granted in 2013 was approximately $14,000, and the Company expects to amortize such expense over a weighted-average period of approximately 1.9 years.

Lazard Fund Interests and Other Similar Deferred Compensation Arrangements

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

The following is a summary of activity relating to Lazard Fund Interests and other similar deferred compensation arrangements during the six month periods ended June 30, 2013 and 2012:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2013	$	47,445		$	97,593
Granted		72,217			72,217
Settled		–			(19,107	)
Forfeited		(685	)		(859	)
Amortization		(30,226	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			248
Adjustment for estimated forfeitures		–			2,049
Other		(396	)		(916	)

Balance, June 30, 2013	$	88,355		$	151,225


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2012	$	17,782		$	29,900
Granted		64,631			64,631
Settled		–			(8,641	)
Forfeited		(1,008	)		(993	)
Amortization		(16,985	)		–
Decrease in fair value of underlying investments		–			(89	)
Other		979			833

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

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 1.9 years subsequent to June 30, 2013.

The following is a summary of the impact of Lazard Fund Interests and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2013 and 2012:


	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013		2012
Compensation expense:
Amortization, net of forfeitures (a)	$	19,052		$	10,800		$	32,101	$	16,985
Change in fair value of underlying investments		(3,477	)		(2,856	)		248		(89	)

Total	$	15,575		$	7,944		$	32,349	$	16,896

(a)	Includes, during the three month and six month periods ended June 30, 2013, $1,748 and $2,665, respectively, relating to the Cost Saving Initiatives.

Employee Benefit Plans

6 Months Ended

Jun. 30, 2013

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. The post-retirement plans generally provide benefits to participants based on average levels of compensation. Expenses related to the Company’s employee benefit plans are included in “compensation and benefits” expense on the consolidated statements of operations.

Employer Contributions to Pension Plans—The Company’s funding policy for its U.S. and non-U.S. pension plans is to fund when required or when applicable upon an agreement with the plans’ Trustees. Management also evaluates from time to time whether to make voluntary contributions to the plans. The Company did not make a contribution to the U.S. pension plans during the six month period ended June 30, 2013.

On April 30, 2012, the Company and the Trustees of the U.K. pension plans concluded the December 31, 2010 triennial valuations of the plans. In connection with such valuations and a previously negotiated agreement with the Trustees, the Company and the Trustees agreed upon pension funding terms (the “agreement”) (which superseded the terms of an agreement reached in June 2009 with respect to the previous triennial valuation as of December 31, 2007) whereby the Company: (i) made a contribution in December 2011 to the plans of 2.3 million British pounds ($3,687 at December 31, 2011 exchange rates) from a previously established escrow account, (ii) agreed to make contributions of 1 million British pounds during each year from 2012 through 2020 inclusive, and (iii) amended the previous escrow arrangement into an account security arrangement covering 10.2 million British pounds, committing to make annual contributions of 1 million British pounds into such account security arrangement during each year from 2014 through 2020, inclusive. It was further agreed that, to the extent that the value of the plans’ assets falls short of the funding target for June 1, 2020 that has been agreed upon with the Trustees, the assets from the account security arrangement would be released into the plans at that date. Additionally, the Company agreed to fund the expenses of administering the plans, including certain regulator levies and the cost of other professional advisors to the plans. The terms of the agreement are subject to adjustment based on the results of subsequent triennial valuations. The aggregate amounts in the account security arrangement at June 30, 2013 and December 31, 2012 of approximately $15,600 and $16,500, respectively, have been recorded in “cash deposited with clearing organizations and other segregated cash” on the accompanying condensed consolidated statements of financial condition. Income on the account security arrangement accretes to the Company and is recorded in interest income.

During the six month period ended June 30, 2013, the Company contributed 1 million British pounds ($1,543 at June 30, 2013 exchange rates) to these U.K. pension plans, and no contributions were required to be made to other non-U.S. pension plans.

The following table summarizes the components of net periodic benefit cost related to the Company’s post-retirement plans for the three month and six month periods ended June 30, 2013 and 2012:


	Pension Plans						Medical Plan
	Three Months Ended June 30,
	2013			2012			2013		2012
Components of Net Benefit Cost (Credit):
Service cost	$	309		$	166		$	17	$	19
Interest cost		6,689			6,885			44		52
Expected return on plan assets		(6,585	)		(6,622	)		–		–
Amortization of:
Prior service cost		700			687			–		–
Net actuarial loss		912			420			–		–
Settlement loss (a)		–			886			–		–

Net benefit cost	$	2,025		$	2,422		$	61	$	71


	Pension Plans						Medical Plan
	Six Months Ended June 30,
	2013			2012			2013		2012
Components of Net Benefit Cost (Credit):
Service cost	$	623		$	338		$	27	$	30
Interest cost		13,442			13,787			91		105
Expected return on plan assets		(13,382	)		(13,294	)		–		–
Amortization of:
Prior service cost		1,406			1,388			–		–
Net actuarial loss		1,826			831			–		–
Settlement loss (a)		–			886			–		–

Net benefit cost	$	3,915		$	3,936		$	118	$	135

(a)

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

Cost Saving Initiatives

6 Months Ended

Jun. 30, 2013

Restructuring And Related Activities [Abstract]

Cost Saving Initiatives

14.

COST SAVING INITIATIVES

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

In connection with the Cost Saving Initiatives, the Company incurred pre-tax implementation expense, by segment, as reflected in the tables below:


	Financial Advisory		Asset Management		Corporate		Total
Three Month Period Ended June 30, 2013:
Compensation and benefits	$	25,352	$	–	$	1,376	$	26,728
Other		412		–		11,241		11,653

Total	$	25,764	$	–	$	12,617	$	38,381


	Financial Advisory		Asset Management			Corporate		Total
Six Month Period Ended June 30, 2013:
Compensation and benefits	$	45,746	$	236		$	5,417	$	51,399
Other		2,033		(1	)		11,272		13,304

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


	Financial Advisory		Asset Management		Corporate		Total
Cumulative Through June 30, 2013:
Compensation and benefits	$	121,879	$	12,292	$	17,215	$	151,386
Other		3,432		732		11,729		15,893

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

Expenses associated with the implementation of the Cost Saving Initiatives were completed during the second quarter of 2013.

Activity related to the obligations pursuant to the Cost Saving Initiatives during the six month period ended June 30, 2013 was as follows:


	Accrued Compensation and Benefits			Other Liabilities			Total
Balance, January 1, 2013	$	46,128		$	1,714		$	47,842
New charges		51,399			13,304			64,703
Less:
Non-cash charges		(12,007	)		(3,022	)		(15,029	)
Settlements		(40,031	)		(1,162	)		(41,193	)

Balance, June 30, 2013	$	45,489		$	10,834		$	56,323

Income Taxes

6 Months Ended

Jun. 30, 2013

Income Tax Disclosure [Abstract]

Income Taxes

15.

INCOME TAXES

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

The Company recorded income tax provisions of $6,779 and $9,801 for the three month and six month periods ended June 30, 2013, respectively, and $10,535 and $15,369 for the three month and six month periods ended June 30, 2012, respectively, representing effective tax rates of 16.2%, 15.5%, 23.2% and 19.7%, respectively. The difference between the U.S. federal statutory rate of 35.0% and the effective tax rates reflected above principally relates to (i) Lazard Group primarily operating as a limited liability company in the U.S., (ii) taxes payable to foreign jurisdictions and (iii) U.S. state and local taxes (primarily UBT), which are incremental to the U.S. federal statutory tax rate.

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

Related Parties

6 Months Ended

Jun. 30, 2013

Related Parties

16.

RELATED PARTIES

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


	June 30, 2013		December 31, 2012
Receivables
LFCM Holdings	$	14,232	$	20,529
Lazard Ltd Subsidiaries		108,789		104,587
Other		1,010		3,272

Total	$	124,031	$	128,388

Payables
LFCM Holdings	$	4,749	$	2,943
Lazard Ltd Subsidiaries		199,133		205,424
Other		10		705

Total	$	203,892	$	209,072

LFCM Holdings

LFCM Holdings owns and operates the capital markets business and fund management activities, as well as other specified non-operating assets and liabilities, that were transferred to it by Lazard Group (referred to as the “separated businesses”) in May 2005 and is owned by various current and former working members, including certain of Lazard’s current and former managing directors (which also include the Company’s executive officers) who were or are also members of LAZ-MD Holdings. In addition to the master separation agreement, dated as of May 10, 2005, by and among Lazard Ltd, Lazard Group, LAZ-MD Holdings and LFCM Holdings (the “master separation agreement”), which effected the separation and recapitalization that occurred in May 2005, LFCM Holdings entered into certain agreements that addressed various business matters associated with the separation, including agreements related to administrative and support services (the “administrative services agreement”), employee benefits, insurance matters and licensing. In addition, LFCM Holdings and Lazard Group entered into a business alliance agreement (the “business alliance agreement”). Certain of these agreements are described in more detail in the Company’s Form 10-K.

For the three month and six month periods ended June 30, 2013, amounts recorded by Lazard Group relating to the administrative services agreement amounted to $300 and $932, respectively, and net referral fees for underwriting, private placement, M&A and restructuring transactions under the business alliance agreement amounted to $(970) and $(470), respectively. For the three month and six month periods ended June 30, 2012, amounts recorded by Lazard Group relating to the administrative services agreement amounted to $702 and $1,515, respectively, and net referral fees for underwriting, private placement, M&A and restructuring transactions under the business alliance agreement amounted to $3,552 and $4,366, respectively. Amounts relating to the administrative services agreement are reported as reductions to operating expenses. Net referral fees for underwriting transactions under the business alliance agreement are reported in “revenue-other”. Net referral fees for private placement, M&A and restructuring transactions under the business alliance agreement are reported in advisory fee revenue.

Receivables from LFCM Holdings and its subsidiaries as of June 30, 2013 and December 31, 2012 include $8,568 and $14,299, respectively, related to administrative and support services and other receivables, which include sublease income and reimbursement of expenses incurred on behalf of LFCM Holdings, and $5,664 and $6,230, respectively, related to referral fees for underwriting and private placement transactions. Payables to LFCM Holdings and its subsidiaries at June 30, 2013 and December 31, 2012 include $4,749 and $2,943, respectively, primarily relating to referral fees for Financial Advisory transactions.

Lazard Ltd Subsidiaries

Lazard Group’s receivables from subsidiaries of Lazard Ltd at June 30, 2013 and December 31, 2012 included interest-bearing loans of $104,953 and $101,833, respectively, including accrued interest thereon. Interest income relating to interest-bearing loans with subsidiaries of Lazard Ltd amounted to $1,579 and $3,121 for the three month and six month periods ended June 30, 2013, respectively, and $2,880 and $5,460 for the three month and six month periods ended June 30, 2012, respectively.

As of both June 30, 2013 and December 31, 2012, Lazard Group’s payables to subsidiaries of Lazard Ltd included $3,410 in connection with Lazard Group’s prior year business acquisitions. In addition, as of June 30, 2013 and December 31, 2012, Lazard Group’s payables to subsidiaries of Lazard Ltd included interest-bearing loans, plus accrued interest thereon, of approximately $194,700 and $202,000, respectively. Such amounts at June 30, 2013 and December 31, 2012 included approximately $77,000 and $86,000, respectively, resulting from the sale in the first quarter of 2012 of an interest-bearing intercompany receivable due from a Lazard Group subsidiary to a Lazard Ltd subsidiary, which was sold at a discount to reflect arm’s-length terms, resulting in a loss to Lazard Group of $5,638. Interest expense relating to interest-bearing loans with subsidiaries of Lazard Ltd amounted to $1,948 and $3,987 for the three month and six month periods ended June 30, 2013, respectively, and $2,918 and $5,116 for the three month and six month periods ended June 30, 2012, respectively.

Other

Other receivables and payables at June 30, 2013 and December 31, 2012 primarily relate to referral fees for M&A transactions with MBA Lazard Holdings S.A. and its affiliates, an Argentina-based group in which the Company has a 50% ownership interest, and, at December 31, 2012, a related party loan.

LAZ-MD Holdings

Lazard Group provides certain administrative and support services to LAZ-MD Holdings through an administrative services agreement, with such services generally to be provided until December 31, 2014 unless terminated earlier because of a change in control of either party. Lazard Group charges LAZ-MD Holdings for these services based on Lazard Group’s cost allocation methodology and, for the three month and six month periods ended June 30, 2013, such charges amounted to $250 and $500, respectively. For the three month and six month periods ended June 30, 2012, such charges amounted to $187 and $375, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Regulatory Authorities

6 Months Ended

Jun. 30, 2013

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 Exchange Act. Under the basic method permitted by this rule, the minimum required net capital, as defined, is a specified fixed percentage (6 ²/₃%) of total aggregate indebtedness recorded in LFNY’s Financial and Operational Combined Uniform Single (“FOCUS”) report filed with the Financial Industry Regulatory Authority (“FINRA”), or $100, whichever is greater. At June 30, 2013, LFNY’s regulatory net capital was $128,583, which exceeded the minimum requirement by $124,897.

Certain U.K. subsidiaries of the Company, including LCL, Lazard Fund Managers Limited and Lazard Asset Management Limited (the “U.K. Subsidiaries”) are regulated by the Financial Conduct Authority, which replaced the Financial Services Authority as the U.K. Subsidiaries’ regulator effective April 1, 2013. At June 30, 2013, the aggregate regulatory net capital of the U.K. Subsidiaries was $74,781, which exceeded the minimum requirement by $54,858.

CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel for its banking activities conducted through its subsidiary, LFB. In addition, the investment services activities of the Paris group, exercised through LFB and other subsidiaries of CFLF, primarily LFG (asset management), are subject to regulation and supervision by the Autorité des Marchés Financiers. At June 30, 2013, the consolidated regulatory net capital of CFLF was $185,983, which exceeded the minimum requirement set for regulatory capital levels by $154,183.

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, 2013, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $103,267, which exceeded the minimum required capital by $76,657.

At June 30, 2013, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

Lazard Ltd had been subject to supervision by the SEC as a Supervised Investment Bank Holding Company (“SIBHC”). As a SIBHC, Lazard Ltd was subject to group-wide supervision, which required it to compute allowable capital and risk allowances on a consolidated basis. However, pursuant to Section 617 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the SEC’s SIBHC program was eliminated on July 21, 2011. Pursuant to relevant rules in the European Union, which we continue to examine, LFB, as a European credit institution, is required to be supervised on a consolidated basis by another regulatory body, either in the U.S., by the Board of Governors of the Federal Reserve, or in the European Union. The Dodd-Frank Act and the rules and regulations that may be adopted thereunder (including regulations that have not yet been proposed) could affect us in other ways. We continue to monitor the possible effect of the implementation of alternatives available to us.

- 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=7881181&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958572-112826

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1E
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958574-112826

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=7881181&loc=d3e65071-112826

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958569-112826

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958575-112826

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958568-112826

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958573-112826

+ Details

Segment Information

6 Months Ended

Jun. 30, 2013

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

The Company’s segment information for the three month and six month periods ended June 30, 2013 and 2012 was prepared using the following methodology:

•

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

•

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

•

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

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

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

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,
		2013(a)			2012			2013(a)			2012
Financial Advisory	Net Revenue	$	263,307		$	242,624		$	431,769		$	519,820
	Operating Expenses		239,766			231,200			456,674			481,097

	Operating Income (Loss)	$	23,541		$	11,424		$	(24,905	)	$	38,723


Asset Management	Net Revenue	$	245,499		$	211,053		$	489,524		$	425,580
	Operating Expenses		187,554			156,616			342,631			317,106

	Operating Income	$	57,945		$	54,437		$	146,893		$	108,474


Corporate	Net Revenue (Expense)	$	(18,479	)	$	(16,740	)	$	(29,782	)	$	(27,935	)
	Operating Expenses		21,071			3,667			29,046			41,230

	Operating Income (Loss)	$	(39,550	)	$	(20,407	)	$	(58,828	)	$	(69,165	)


Total	Net Revenue	$	490,327		$	436,937		$	891,511		$	917,465
	Operating Expenses		448,391			391,483			828,351			839,433

	Operating Income	$	41,936		$	45,454		$	63,160		$	78,032

(a)	See Note 14 of Notes to Condensed Consolidated Financial Statements for information regarding the Cost Saving Initiatives, and the impact on each of the Company’s business segments during the three month and six month periods ended June 30, 2013.


	As Of
	June 30, 2013		December 31, 2012
Total Assets
Financial Advisory	$	722,702	$	793,007
Asset Management		539,662		566,677
Corporate		1,722,688		1,688,696

Total	$	2,985,052	$	3,048,380

- Definition

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

+ References

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

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

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Organization and Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Organization

Organization

Lazard Group’s principal operating activities are included in two business segments:

•

Basis of Presentation

Basis of Presentation

Offsetting (Netting) Assets and Liabilities

Reclassifications out of Accumulated Other Comprehensive Income

Investments (Tables)

6 Months Ended

Jun. 30, 2013

Investments Schedule [Abstract]

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consisted of the following at June 30, 2013 and December 31, 2012:


	June 30, 2013		December 31, 2012
Debt (including interest-bearing deposits of $514 and $578, respectively)	$	7,508	$	5,948

Equities		51,957		44,992

Funds:
Alternative investments (a)		45,739		57,890
Debt (a)		37,245		19,918
Equity (a)		175,736		154,310
Private equity		112,833		112,444

		371,553		344,562

Equity method		7,101		7,012

Total investments		438,119		402,514
Less:
Interest-bearing deposits		514		578
Equity method		7,101		7,012

Investments, at fair value	$	430,504	$	394,924

Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	3,263	$	2,755

(a)

Schedule of Trading Securities Gross Unrealized Investment Gains and Losses


	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2013		2012		2013		2012
Gross unrealized investment gains	$	–	$	84	$	3,748	$	8,289
Gross unrealized investment losses	$	8,806	$	8,324	$	5,624	$	2,346

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

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


	June 30, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,093	$	5,901	$	–	$	6,994
Equities		51,320		–		637		51,957
Funds:
Alternative investments		–		45,728		11		45,739
Debt		37,241		4		–		37,245
Equity		169,072		6,664		–		175,736
Private equity		–		–		112,833		112,833
Derivatives		–		6,947		–		6,947

Total	$	258,726	$	65,244	$	113,481	$	437,451

Liabilities:
Securities sold, not yet purchased	$	3,263	$	–	$	–	$	3,263
Derivatives		–		152,514		–		152,514

Total	$	3,263	$	152,514	$	–	$	155,777


	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Debt (excluding interest-bearing deposits)	$	1,443	$	3,927	$	–	$	5,370
Equities		44,802		–		190		44,992
Funds:
Alternative investments		–		54,433		3,457		57,890
Debt		19,914		4		–		19,918
Equity		145,231		9,069		10		154,310
Private equity		–		–		112,444		112,444
Derivatives		–		933		–		933

Total	$	211,390	$	68,366	$	116,101	$	395,857

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

Total	$	2,696	$	102,551	$	–	$	105,247

Summary of Changes in Fair Value of Company's Level 3 Assets

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets for the three month and six month periods ended June 30, 2013 and 2012:


	Three Months Ended June 30, 2013
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	184	$	6	$	445	$	–		$	2		$	637
Alternative investment funds		1,304		34		–		(1,327	)		–			11
Private equity funds		110,496		3,056		3,259		(4,612	)		634			112,833

Total Level 3 Assets	$	111,984	$	3,096	$	3,704	$	(5,939	)	$	636		$	113,481


	Six Months Ended June 30, 2013
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)		Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance				Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	190	$	6	$	445	$	–		$	(4	)	$	637
Alternative investment funds		3,457		128		–		(3,574	)		–			11
Equity funds		10		–		–		(10	)		–			–
Private equity funds		112,444		3,738		3,259		(5,868	)		(740	)		112,833

Total Level 3 Assets	$	116,101	$	3,872	$	3,704	$	(9,452	)	$	(744	)	$	113,481


	Three Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	217	$	5		$	–	$	(30	)	$	(11	)	$	181
Alternative investment funds		5,915		(38	)		–		(1,251	)		–			4,626
Private equity funds		116,563		4,786			56		(4,873	)		(2,541	)		113,991

Total Level 3 Assets	$	122,695	$	4,753		$	56	$	(6,154	)	$	(2,552	)	$	118,798

	Six Months Ended June 30, 2012
	Beginning Balance		Net Unrealized/ Realized Gains (Losses) Included In Revenue- Other (a)			Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
	Beginning Balance					Purchases/ Acquisitions		Sales/ Dispositions			Foreign Currency Translation Adjustments			Ending Balance
Investments:
Equities	$	211	$	5		$	–	$	(30	)	$	(5	)	$	181
Alternative investment funds		10,171		89			10		(5,644	)		–			4,626
Private equity funds		122,718		12,350			2,752		(22,745	)		(1,084	)		113,991

Total Level 3 Assets	$	133,100	$	12,444		$	2,762	$	(28,419	)	$	(1,089	)	$	118,798

(a)	Earnings for the three month and six month periods ended June 30, 2013 and the three month and six month periods ended June 30, 2012 include net unrealized gains of $2,657, $3,327, $3,483 and $9,563, respectively.

Fair Value of Certain Investments Based on NAV

June 30, 2013

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair Value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds

45,739

–

(a)

<30-120 days

Debt funds

–

(b)

30 days

Equity funds

6,664

–

(c)

<30-90 days

Private equity funds

112,833

27,649

100%

10%

38%

52%

Total

165,240

27,649

Redemption frequency as follows:

(a)	daily (1%), weekly (11%), monthly (54%) and quarterly (34%)

(b)	daily (100%)

(c)	monthly (100%)

December 31, 2012

% of
Fair Value
Not
Redeemable

Estimated Liquidation Period of
Investments Not Redeemable

Investments Redeemable

Fair Value

Unfunded
Commitments

%
Next
5 Years

%
5-10
Years

%
Thereafter

Redemption
Frequency

Redemption
Notice Period

Alternative investment funds

57,890

–

(a)

<30-120 days

Debt funds

–

(b)

30 days

Equity funds

9,079

–

–%

(c)

30-120 days

Private equity funds

112,444

31,482

100%

13%

39%

48%

Total

179,417

31,482

Redemption frequency as follows:

(a)	daily (10%), weekly (9%), monthly (38%) and quarterly (43%)

(b)	daily (100%)

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

Derivatives (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition


	June 30, 2013		December 31, 2012
Derivative Assets:
Forward foreign currency exchange rate contracts	$	626	$	893
Equity and fixed income swaps and other (a)		6,321		40

	$	6,947	$	933

Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,289	$	322
Interest rate swaps		–		235
Equity and fixed income swaps (a)		–		4,342
Lazard Fund Interests and other similar deferred compensation arrangements		151,225		97,593

	$	152,514	$	102,492

(a)

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


	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
Forward foreign currency exchange rate contracts	$	(1,626	)	$	4,051	$	3,605		$	2,129
Lazard Fund Interests and other similar deferred compensation arrangements		3,477			2,856		(248	)		89
Equity and fixed income swaps and other		3,100			3,913		(1,388	)		(5,944	)

Total	$	4,951		$	10,820	$	1,969		$	(3,726	)

Property (Tables)

6 Months Ended

Jun. 30, 2013

Property Plant And Equipment [Abstract]

Property-Net

At June 30, 2013 and December 31, 2012, property consisted of the following:


	Estimated Depreciable Life in Years		June 30, 2013		December 31, 2012
Buildings		33	$	165,106	$	166,560
Leasehold improvements		3-20		156,915		143,408
Furniture and equipment		3-10		135,768		122,124
Construction in progress				16,646		18,801

Total				474,435		450,893
Less - accumulated depreciation and amortization				232,487		225,861

Property			$	241,948	$	225,032

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at June 30, 2013 and December 31, 2012 are presented below:


	June 30, 2013		December 31, 2012
Goodwill	$	348,549	$	364,328
Other intangible assets (net of accumulated amortization)		26,658		28,494

	$	375,207	$	392,822

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the six month periods ended June 30, 2013 and 2012 are as follows:


	Six Months Ended June 30,
	2013			2012
Balance, January 1	$	364,328		$	356,657
Business acquisition		1,440			4,272
Foreign currency translation adjustments		(17,219	)		64

Balance, June 30	$	348,549		$	360,993

Gross Cost and Accumulated Amortization of Other Intangible Assets

The gross cost and accumulated amortization of other intangible assets as of June 30, 2013 and December 31, 2012, by major intangible asset category, are as follows:


	June 30, 2013						December 31, 2012
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/performance fees	$	30,740	$	10,726	$	20,014	$	30,740	$	10,678	$	20,062
Management fees, customer relationships and non-compete agreements		33,080		26,436		6,644		33,035		24,603		8,432

	$	63,820	$	37,162	$	26,658	$	63,775	$	35,281	$	28,494

Estimated Future Amortization Expense


Year Ending December 31,	Amortization Expense (a)
2013 (July 1 through December 31)	$	6,761
2014		8,278
2015		6,438
2016		5,181

Total amortization expense	$	26,658

(a)

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

Senior Debt (Tables)

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Senior Debt

Senior debt was comprised of the following as of June 30, 2013 and December 31, 2012:


	Initial Principal Amount		Maturity Date		Annual Interest Rate			Outstanding As Of
	Initial Principal Amount		Maturity Date		Annual Interest Rate			June 30, 2013		December 31, 2012
Lazard Group 7.125% Senior Notes	$	550,000		5/15/15		7.125	%	$	528,500	$	528,500
Lazard Group 6.85% Senior Notes		600,000		6/15/17		6.85	%		548,350		548,350
Lazard Group Credit Facility		150,000		9/25/15		0.84	%		–		–

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

Members' Equity (Tables)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

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


	Six Months Ended June 30,
	2013		2012
LAZ-MD Holdings	$	387	$	2,416
Subsidiaries of Lazard Ltd		30,338		43,011

	$	30,725	$	45,427

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”)—The table below reflects the components of AOCI at June 30, 2013 and activity during the six month period then ended:


	Currency Translation Adjustments			Interest Rate Hedge			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Group AOCI
Balance, January 1, 2013	$	38,657		$	(2,502	)	$	(128,536	)	$	(92,381	)	$	12		$	(92,393	)

Activity January 1 to June 30, 2013:
Other comprehensive loss before reclassifications		(20,964	)		–			(2,719	)		(23,683	)		(66	)		(23,617	)
Adjustments for items reclassified to earnings, net of tax		–			527			2,430			2,957			–			2,957

Net other comprehensive income (loss)		(20,964	)		527			(289	)		(20,726	)		(66	)		(20,660	)

Balance, June 30, 2013	$	17,693		$	(1,975	)	$	(128,825	)	$	(113,107	)	$	(54	)	$	(113,053	)

Gains (Losses) 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, 2013:


	Three Months Ended June 30,			Six Months Ended June 30,
	2013			2013
Amortization of interest rate hedge	$	263	(a)	$	527	(a)

Amortization expense relating to employee benefit plans		1,612	(b)		3,232	(b)
Less - tax expense		400			802

Net of tax		1,212			2,430

Total reclassifications, net of tax	$	1,475		$	2,957

(a)	Included in “interest expense” on the condensed consolidated statements of operations.

(b)	Included in the computation of net periodic benefit cost (see Note 13 of Notes to Condensed Consolidated Financial Statements). Such amount is included in “compensation and benefits” expense on the condensed consolidated statement of operations.

Net Income Attributable to Noncontrolling Interests


	Net Income (Loss) Attributable To Noncontrolling Interests
	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Edgewater	$	287		$	1,698		$	2,653		$	3,872
Other		(23	)		(51	)		(292	)		(46	)

Total	$	264		$	1,647		$	2,361		$	3,826


	Noncontrolling Interests As Of
	June 30, 2013		December 31, 2012
Edgewater	$	71,020	$	75,262
Other		289		646

Total	$	71,309	$	75,908

Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Share-based incentive awards:
RSUs (a)	$	52,147	$	63,428	$	117,089	$	145,319
PRSUs		1,995		–		2,433		–
Restricted stock (b)		1,824		1,704		7,085		5,879
DSUs		701		609		737		644

Total	$	56,667	$	65,741	$	127,344	$	151,842

(a)	Includes, during the three month and six month periods ended June 30, 2013, $4,644 and $9,099, respectively, relating to the Cost Saving Initiatives (see Note 14 of Notes to Condensed Consolidated Financial Statements).

(b)	Includes, during the three month and six month periods ended June 30, 2013, $14 and $247, respectively, relating to the Cost Saving Initiatives.

Schedule of Activity Relating to RSUs and DSUs

The following is a summary of activity relating to RSUs and DSUs during the six month periods ended June 30, 2013 and 2012:


	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2013		21,481,131		$	33.92		204,496	$	31.47
Granted (including 131,669 RSUs relating to dividend participation)		4,689,312		$	36.95		43,231	$	34.09
Forfeited		(223,346	)	$	34.64		–		–
Vested		(8,589,999	)	$	34.99		–		–

Balance, June 30, 2013		17,357,098		$	34.20		247,727	$	31.93


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

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

Summary of Fund Interests and Other Similar Deferred Compensation Arrangements

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, 2013 and 2012:


	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2013		1,972,609		$	34.85
Granted		368,736		$	36.74
Forfeited		(35,183	)	$	33.29
Vested		(1,727,121	)	$	36.00

Balance, June 30, 2013		579,041		$	32.73


Balance, January 1, 2012		95,332		$	37.63
Granted/Exchanged		577,323		$	29.25
Forfeited		(18,921	)	$	29.51
Vested		(131,743	)	$	28.63

Balance, June 30, 2012		521,991		$	30.93

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

The following is a summary of activity relating to Lazard Fund Interests and other similar deferred compensation arrangements during the six month periods ended June 30, 2013 and 2012:


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2013	$	47,445		$	97,593
Granted		72,217			72,217
Settled		–			(19,107	)
Forfeited		(685	)		(859	)
Amortization		(30,226	)		–
Change in fair value related to:
Increase in fair value of underlying investments		–			248
Adjustment for estimated forfeitures		–			2,049
Other		(396	)		(916	)

Balance, June 30, 2013	$	88,355		$	151,225


	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2012	$	17,782		$	29,900
Granted		64,631			64,631
Settled		–			(8,641	)
Forfeited		(1,008	)		(993	)
Amortization		(16,985	)		–
Decrease in fair value of underlying investments		–			(89	)
Other		979			833

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

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013		2012
Compensation expense:
Amortization, net of forfeitures (a)	$	19,052		$	10,800		$	32,101	$	16,985
Change in fair value of underlying investments		(3,477	)		(2,856	)		248		(89	)

Total	$	15,575		$	7,944		$	32,349	$	16,896

(a)	Includes, during the three month and six month periods ended June 30, 2013, $1,748 and $2,665, respectively, relating to the Cost Saving Initiatives.

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2013

Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Cost

The following table summarizes the components of net periodic benefit cost related to the Company’s post-retirement plans for the three month and six month periods ended June 30, 2013 and 2012:


	Pension Plans						Medical Plan
	Three Months Ended June 30,
	2013			2012			2013		2012
Components of Net Benefit Cost (Credit):
Service cost	$	309		$	166		$	17	$	19
Interest cost		6,689			6,885			44		52
Expected return on plan assets		(6,585	)		(6,622	)		–		–
Amortization of:
Prior service cost		700			687			–		–
Net actuarial loss		912			420			–		–
Settlement loss (a)		–			886			–		–

Net benefit cost	$	2,025		$	2,422		$	61	$	71


	Pension Plans						Medical Plan
	Six Months Ended June 30,
	2013			2012			2013		2012
Components of Net Benefit Cost (Credit):
Service cost	$	623		$	338		$	27	$	30
Interest cost		13,442			13,787			91		105
Expected return on plan assets		(13,382	)		(13,294	)		–		–
Amortization of:
Prior service cost		1,406			1,388			–		–
Net actuarial loss		1,826			831			–		–
Settlement loss (a)		–			886			–		–

Net benefit cost	$	3,915		$	3,936		$	118	$	135

(a)

Cost Saving Initiatives (Tables)

6 Months Ended

Jun. 30, 2013

Restructuring And Related Activities [Abstract]

Schedule of Pre-Tax Implementation Expense and Cumulative Expenses

In connection with the Cost Saving Initiatives, the Company incurred pre-tax implementation expense, by segment, as reflected in the tables below:


	Financial Advisory		Asset Management		Corporate		Total
Three Month Period Ended June 30, 2013:
Compensation and benefits	$	25,352	$	–	$	1,376	$	26,728
Other		412		–		11,241		11,653

Total	$	25,764	$	–	$	12,617	$	38,381


	Financial Advisory		Asset Management			Corporate		Total
Six Month Period Ended June 30, 2013:
Compensation and benefits	$	45,746	$	236		$	5,417	$	51,399
Other		2,033		(1	)		11,272		13,304

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


	Financial Advisory		Asset Management		Corporate		Total
Cumulative Through June 30, 2013:
Compensation and benefits	$	121,879	$	12,292	$	17,215	$	151,386
Other		3,432		732		11,729		15,893

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

Activity related to the obligations pursuant to the Cost Saving Initiatives during the six month period ended June 30, 2013 was as follows:


	Accrued Compensation and Benefits			Other Liabilities			Total
Balance, January 1, 2013	$	46,128		$	1,714		$	47,842
New charges		51,399			13,304			64,703
Less:
Non-cash charges		(12,007	)		(3,022	)		(15,029	)
Settlements		(40,031	)		(1,162	)		(41,193	)

Balance, June 30, 2013	$	45,489		$	10,834		$	56,323

Related Parties (Tables)

6 Months Ended

Jun. 30, 2013

Amounts Receivable from and Payable to Related Parties

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


	June 30, 2013		December 31, 2012
Receivables
LFCM Holdings	$	14,232	$	20,529
Lazard Ltd Subsidiaries		108,789		104,587
Other		1,010		3,272

Total	$	124,031	$	128,388

Payables
LFCM Holdings	$	4,749	$	2,943
Lazard Ltd Subsidiaries		199,133		205,424
Other		10		705

Total	$	203,892	$	209,072

Segment Information (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

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

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


		Three Months Ended June 30,						Six Months Ended June 30,
		2013(a)			2012			2013(a)			2012
Financial Advisory	Net Revenue	$	263,307		$	242,624		$	431,769		$	519,820
	Operating Expenses		239,766			231,200			456,674			481,097

	Operating Income (Loss)	$	23,541		$	11,424		$	(24,905	)	$	38,723


Asset Management	Net Revenue	$	245,499		$	211,053		$	489,524		$	425,580
	Operating Expenses		187,554			156,616			342,631			317,106

	Operating Income	$	57,945		$	54,437		$	146,893		$	108,474


Corporate	Net Revenue (Expense)	$	(18,479	)	$	(16,740	)	$	(29,782	)	$	(27,935	)
	Operating Expenses		21,071			3,667			29,046			41,230

	Operating Income (Loss)	$	(39,550	)	$	(20,407	)	$	(58,828	)	$	(69,165	)


Total	Net Revenue	$	490,327		$	436,937		$	891,511		$	917,465
	Operating Expenses		448,391			391,483			828,351			839,433

	Operating Income	$	41,936		$	45,454		$	63,160		$	78,032

(a)	See Note 14 of Notes to Condensed Consolidated Financial Statements for information regarding the Cost Saving Initiatives, and the impact on each of the Company’s business segments during the three month and six month periods ended June 30, 2013.


	As Of
	June 30, 2013		December 31, 2012
Total Assets
Financial Advisory	$	722,702	$	793,007
Asset Management		539,662		566,677
Corporate		1,722,688		1,688,696

Total	$	2,985,052	$	3,048,380

Organization and Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2013 Segment $ / shares shares	Dec. 31, 2012 $ / shares shares
Organization And Basis Of Presentation [Line Items]
Governing Operating Agreement, date	May 10, 2005
Number of business segments \| Segment	2
Class A Common Stock [Member]
Organization And Basis Of Presentation [Line Items]
Common stock, par value \| $ / shares	$ 0.01	$ 0.01
Lazard Ltd [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held	99.50%	98.80%
LAZ-MD Holdings LLC [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held	0.50%	1.20%
LAZ-MD Holdings LLC [Member] \| Class B Common Stock [Member]
Organization And Basis Of Presentation [Line Items]
Common membership voting power held	0.50%	1.20%
Common stock, shares outstanding	1	1
Common stock, shares issued	1	1

Receivables - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Receivables Net [Line Items]
Allowance for doubtful accounts receivables	$ 24,593		$ 24,593		$ 23,017
Bad debt expense, net of recoveries	1,694	$ (133)	1,842	$ 1,148
Charge-offs, foreign currency translation and other adjustments	94	$ (283)	(266)	$ 158
Interest-bearing financing fee receivables	74,632		74,632		76,481
Interest-bearing related party receivables	104,953		104,953		101,833
Aggregate carrying amount of non-interest bearing receivables	454,110		454,110		404,316
Trade Receivables [Member]
Receivables Net [Line Items]
Allowance for doubtful accounts receivables	24,593		24,593		23,017
Receivables past due or deemed uncollectible	27,831		27,831		25,604
Financing Receivables [Member]
Receivables Net [Line Items]
Allowance for doubtful accounts receivables

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Schedule of Investments [Line Items]
Funds	$ 371,553	$ 344,562
Equities	51,957	44,992
Equity method	7,101	7,012
Total investments	438,119	402,514
Interest-bearing deposits	514	578
Investments, at fair value	430,504	394,924
Securities sold, not yet purchased, at fair value (included in "other liabilities")	3,263	2,755
Debt Funds [Member]
Schedule of Investments [Line Items]
Funds	37,245	19,918
Debt [Member]
Schedule of Investments [Line Items]
Funds	7,508	5,948
Alternative Investments Funds [Member]
Schedule of Investments [Line Items]
Funds	45,739	57,890
Equity Funds [Member]
Schedule of Investments [Line Items]
Funds	175,736	154,310
Private Equity Funds [Member]
Schedule of Investments [Line Items]
Funds	$ 112,833	$ 112,444

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Fair Value Disclosures [Abstract]
Interest-bearing deposits	$ 514	$ 578
Lazard Fund Interests in equities	121,408	76,907
Lazard Fund Interests in alternative investments	7,631	5,054
Lazard Fund Interests in debt	$ 31,013	$ 18,615

Investments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Schedule Of Investments [Abstract]
Economic interests that are owned by management team and other investors in the Edgewater Funds	$ 9,685	$ 11,490

Investments - Schedule of Trading Securities Gross Unrealized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Investments Debt And Equity Securities [Abstract]
Gross unrealized investment gains		$ 84	$ 3,748	$ 8,289
Gross unrealized investment losses	$ 8,806	$ 8,324	$ 5,624	$ 2,346

Fair Value Measurements - Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	$ 51,957	$ 44,992
Derivatives	6,947	933
Securities sold, not yet purchased	3,263	2,755
Derivatives	152,514	102,492
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	51,957	44,992
Derivatives	6,947	933
Total Assets	437,451	395,857
Securities sold, not yet purchased	3,263	2,755
Derivatives	152,514	102,492
Total Liabilities	155,777	105,247
Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6,994	5,370
Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	45,739	57,890
Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	37,245	19,918
Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	175,736	154,310
Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	112,833	112,444
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	51,320	44,802
Derivatives
Total Assets	258,726	211,390
Securities sold, not yet purchased	3,263	2,696
Derivatives
Total Liabilities	3,263	2,696
Level 1 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,093	1,443
Level 1 [Member] \| Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 1 [Member] \| Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	37,241	19,914
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	169,072	145,231
Level 1 [Member] \| Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities
Derivatives	6,947	933
Total Assets	65,244	68,366
Securities sold, not yet purchased		59
Derivatives	152,514	102,492
Total Liabilities	152,514	102,551
Level 2 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	5,901	3,927
Level 2 [Member] \| Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	45,728	54,433
Level 2 [Member] \| Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	4	4
Level 2 [Member] \| Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6,664	9,069
Level 2 [Member] \| Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equities	637	190
Derivatives
Total Assets	113,481	116,101
Securities sold, not yet purchased
Derivatives
Total Liabilities
Level 3 [Member] \| Debt [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 3 [Member] \| Alternative Investments Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	11	3,457
Level 3 [Member] \| Debt Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Level 3 [Member] \| Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		10
Level 3 [Member] \| Private Equity Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 112,833	$ 112,444

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, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Fair Value Measurements Summary Of Changes In Fair Value Of Level Three Assets [Line Items]
Beginning Balance	$ 111,984	$ 122,695	$ 116,101	$ 133,100
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	3,096	4,753	3,872	12,444
Purchases/Acquisitions	3,704	56	3,704	2,762
Sales/Dispositions	(5,939)	(6,154)	(9,452)	(28,419)
Foreign Currency Translation Adjustments	636	(2,552)	(744)	(1,089)
Ending Balance	113,481	118,798	113,481	118,798
Equities [Member]
Fair Value Measurements Summary Of Changes In Fair Value Of Level Three Assets [Line Items]
Beginning Balance	184	217	190	211
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	6	5	6	5
Purchases/Acquisitions	445		445
Sales/Dispositions		(30)		(30)
Foreign Currency Translation Adjustments	2	(11)	(4)	(5)
Ending Balance	637	181	637	181
Alternative Investment Funds [Member]
Fair Value Measurements Summary Of Changes In Fair Value Of Level Three Assets [Line Items]
Beginning Balance	1,304	5,915	3,457	10,171
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	34	(38)	128	89
Purchases/Acquisitions				10
Sales/Dispositions	(1,327)	(1,251)	(3,574)	(5,644)
Foreign Currency Translation Adjustments
Ending Balance	11	4,626	11	4,626
Equity Funds [Member]
Fair Value Measurements Summary Of Changes In Fair Value Of Level Three Assets [Line Items]
Beginning Balance			10
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other
Purchases/Acquisitions
Sales/Dispositions			(10)
Foreign Currency Translation Adjustments
Ending Balance
Private Equity Funds [Member]
Fair Value Measurements Summary Of Changes In Fair Value Of Level Three Assets [Line Items]
Beginning Balance	110,496	116,563	112,444	122,718
Net Unrealized/Realized Gains (Losses) Included In Revenue-Other	3,056	4,786	3,738	12,350
Purchases/Acquisitions	3,259	56	3,259	2,752
Sales/Dispositions	(4,612)	(4,873)	(5,868)	(22,745)
Foreign Currency Translation Adjustments	634	(2,541)	(740)	(1,084)
Ending Balance	$ 112,833	$ 113,991	$ 112,833	$ 113,991

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
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Fair Value Disclosures [Abstract]
Net unrealized gains	$ 2,657	$ 3,483	$ 3,327	$ 9,563

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 165,240	$ 179,417
Unfunded Commitments	27,649	31,482
Alternative Investment Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	45,739	57,890
Unfunded Commitments
Alternative Investment Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	daily (1%)	daily (10%)
Alternative Investment Funds [Member] \| Weekly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	weekly (11%)	weekly (9%)
Alternative Investment Funds [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	monthly (54%)	monthly (38%)
Alternative Investment Funds [Member] \| Quarterly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	quarterly (34%)	quarterly (43%)
Alternative Investment 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
Alternative Investment Funds [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	120 days	120 days
Debt Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Fair Value	$ 4	$ 4
Unfunded Commitments
Debt Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	daily (100%)	daily (100%)
Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 6,664	$ 9,079
Unfunded Commitments
% of Fair Value Not Redeemable		2.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter		2.00%
Equity Funds [Member] \| Daily [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency		daily (37%)
Equity Funds [Member] \| Monthly [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Frequency	monthly (100%)	monthly (61%)
Equity Funds [Member] \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Equity Funds [Member] \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	90 days	120 days
Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period
Fair Value	$ 112,833	$ 112,444
Unfunded Commitments	$ 27,649	$ 31,482
% of Fair Value Not Redeemable	100.00%	100.00%
Estimated Liquidation Period of Investments Not Redeemable, % Next 5 Years	10.00%	13.00%
Estimated Liquidation Period of Investments Not Redeemable, % 5-10 Years	38.00%	39.00%
Estimated Liquidation Period of Investments Not Redeemable, % Thereafter	52.00%	48.00%

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Fair Value Measurements [Line Items]
Unfunded Commitments	$ 27,649	$ 31,482
CP II [Member]
Fair Value Measurements [Line Items]
End of the investment period	Feb. 25, 2017
CP II [Member] \| Maximum [Member]
Fair Value Measurements [Line Items]
Unfunded Commitments	$ 1,940
EGCP III [Member]
Fair Value Measurements [Line Items]
End of the investment period	Oct. 12, 2016
Remaining commitment date	Oct. 12, 2023
EGCP III [Member] \| Maximum [Member]
Fair Value Measurements [Line Items]
Unfunded Commitments	$ 18,500
COF2 [Member]
Fair Value Measurements [Line Items]
End of the investment period	Nov. 11, 2016
COF2 [Member] \| Maximum [Member]
Fair Value Measurements [Line Items]
Unfunded Commitments	$ 7,209
Remaining commitment date	Nov. 11, 2019

Derivatives - Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 6,947	$ 933
Derivative Liabilities	152,514	102,492
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	626	893
Derivative Liabilities	1,289	322
Equity and Fixed Income Swaps and Other [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	6,321	40
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities		235
Equity and Fixed Income Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities		4,342
Lazard Fund Interests and Other Similar Deferred Compensation Arrangements [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 151,225	$ 97,593

Derivatives - Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Gross assets for equity and fixed income swaps	$ 6,332	$ 0
Gross liabilities for equity and fixed income swaps	11	4,342
Cash collateral pledged for equity and fixed income swaps	$ 4,574	$ 15,304

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, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 4,951	$ 10,820	$ 1,969	$ (3,726)
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(1,626)	4,051	3,605	2,129
Lazard Fund Interests and Other Similar Deferred Compensation Arrangements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	3,477	2,856	(248)	89
Equity and Fixed Income Swaps and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 3,100	$ 3,913	$ (1,388)	$ (5,944)

Property - Property-Net (Detail) - USD ($) $ in Thousands	6 Months Ended
Property - Property-Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 474,435	$ 450,893
Less - accumulated depreciation and amortization	232,487	225,861
Property	241,948	225,032
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	165,106	166,560
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	156,915	143,408
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	135,768	122,124
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 16,646	$ 18,801
Minimum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] \| Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] \| Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	33 years
Maximum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Maximum [Member] \| Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2011
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 348,549	$ 364,328	$ 360,993	$ 356,657
Other intangible assets (net of accumulated amortization)	26,658	28,494
Goodwill and other intangible assets, Total	$ 375,207	$ 392,822

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Dec. 31, 2011
Goodwill [Line Items]
Goodwill	$ 348,549	$ 360,993	$ 348,549	$ 360,993	$ 364,328	$ 356,657
Amortization expense of intangible assets	1,004	$ 2,560	1,881	$ 3,678
Financial Advisory Segment [Member]
Goodwill [Line Items]
Goodwill	284,008		284,008		299,787
Asset Management Segment [Member]
Goodwill [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, 2013	Jun. 30, 2012
Business Combinations [Abstract]
Beginning Balance	$ 364,328	$ 356,657
Business acquisition	1,440	4,272
Foreign currency translation adjustments	(17,219)	64
Ending Balance	$ 348,549	$ 360,993

Goodwill and Other Intangible Assets - Gross Cost and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Intangible Assets [Line Items]
Other intangible assets, Gross Cost	$ 63,820	$ 63,775
Other intangible assets, Accumulated Amortization	37,162	35,281
Other intangible assets, Net Carrying Amount	26,658	28,494
Success/Performance Fees [Member]
Intangible Assets [Line Items]
Other intangible assets, Gross Cost	30,740	30,740
Other intangible assets, Accumulated Amortization	10,726	10,678
Other intangible assets, Net Carrying Amount	20,014	20,062
Management Fees, Customer Relationships and Non-compete Agreements [Member]
Intangible Assets [Line Items]
Other intangible assets, Gross Cost	33,080	33,035
Other intangible assets, Accumulated Amortization	26,436	24,603
Other intangible assets, Net Carrying Amount	$ 6,644	$ 8,432

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Jun. 30, 2013 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2013	$ 6,761
2014	8,278
2015	6,438
2016	5,181
Total amortization expense	$ 26,658

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible asset amortization attributable to noncontrolling interest, percentage	45.00%

Senior Debt - Senior Debt (Detail) - USD ($) $ in Thousands	6 Months Ended
Senior Debt - Senior Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Senior debt, Outstanding	$ 1,076,850	$ 1,076,850
Lazard Group 7.125% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Maturity Date	May 15, 2015
Senior Debt, Initial Principal Amount	$ 550,000
Senior Debt, Annual Interest Rate	7.125%
Senior debt, Outstanding	$ 528,500	528,500
Lazard Group 6.85% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Maturity Date	Jun. 15, 2017
Senior Debt, Initial Principal Amount	$ 600,000
Senior Debt, Annual Interest Rate	6.85%
Senior debt, Outstanding	$ 548,350	548,350
Lazard Group Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, Initial Principal Amount	$ 150,000
Senior Debt, Maturity Date	Sep. 25, 2015
Revolving Credit Facility, Annual Interest Rate	0.84%
Senior debt, Outstanding

Senior Debt - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	Sep. 25, 2012
Debt Instrument [Line Items]
Senior revolving credit facility over next 3 years			$ 150,000
Duration of senior revolving credit facility, in years			3 years
Outstanding credit facility	$ 0	$ 0
Unused lines of credit available	262,000
Fair value of senior debt	1,180,000	1,207,000
Senior Debt [Member]
Debt Instrument [Line Items]
Fair value of senior debt in excess of the aggregate carrying amount	103,000	$ 130,000
LFB [Member]
Debt Instrument [Line Items]
Unused lines of credit available	52,000
Edgewater [Member]
Debt Instrument [Line Items]
Unused lines of credit available	$ 55,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Expiration date of credit facility	Sep. 25, 2015
Revolving credit facility annual interest rate	0.84%

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 15, 2009	Jun. 30, 2013	Dec. 31, 2012
Contingencies And Commitments [Line Items]
Guarantees indemnifications		$ 4,679
Collateral/counter-guarantees		$ 3,837
Aggregate fair value of consideration recognized by the company at acquisition date	$ 61,624
Earnout shares earned		1,371,992	1,209,154
Earnout shares became settled		0	686,004
Maximum earn-out consideration payable over all years		$ 7,000	$ 7,000
Class A Common Stock [Member]
Contingencies And Commitments [Line Items]
Additional shares of Common stock		107,617
Common stock issuable on non-contingent basis			170,988
Class A Common Stock [Member] \| Maximum [Member]
Contingencies And Commitments [Line Items]
Additional shares of Common stock		202,650
Initial Shares [Member]
Contingencies And Commitments [Line Items]
Initial shares issued at acquisition	1,142,857
Earnout Shares [Member]
Contingencies And Commitments [Line Items]
Additional shares issued and subject to earnout criteria and payable over time	1,142,857

Members' Equity - Lazard Group Distributed Amounts to LAZ-MD Holdings and Subsidiaries of Lazard Ltd (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Schedule Of Group Distributions [Line Items]
Amounts distributed by Lazard Group	$ 30,725	$ 45,427
LAZ-MD Holdings [Member]
Schedule Of Group Distributions [Line Items]
Amounts distributed by Lazard Group	387	2,416
Lazard Ltd Subsidiaries [Member]
Schedule Of Group Distributions [Line Items]
Amounts distributed by Lazard Group	30,338	43,011
Lazard Group Ltd [Member]
Schedule Of Group Distributions [Line Items]
Amounts distributed by Lazard Group	$ 30,725	$ 45,427

Members' Equity - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended				6 Months Ended
	Oct. 31, 2012	Apr. 30, 2012	Oct. 31, 2011	Feb. 28, 2011	Jun. 30, 2013	Jun. 30, 2012
Lazard Ltd Subsidiaries [Member]
Schedule Of Members Equity [Line Items]
Shares in exchange of a like number of common membership interests					839,658	186,701
Class A Common Stock [Member]
Schedule Of Members Equity [Line Items]
Share repurchase program expiration date	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
Number of shares/common membership interests purchased during current year					1,434,657
Aggregate cost of shares/common membership interests purchased					$ 50,447
Share Repurchase Program [Member]
Schedule Of Members Equity [Line Items]
Stock/membership interest repurchase program authorized amount	$ 200,000	$ 125,000	$ 125,000	$ 250,000
Share repurchase amount unused					$ 103,619

Members' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2013 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (92,393)
Other comprehensive loss before reclassifications	(23,617)
Adjustments for items reclassified to earnings, net of tax	2,957
Net other comprehensive income (loss)	(20,660)
Ending balance	(113,053)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	38,657
Other comprehensive loss before reclassifications	(20,964)
Net other comprehensive income (loss)	(20,964)
Ending balance	17,693
Interest Rate Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,502)
Adjustments for items reclassified to earnings, net of tax	527
Net other comprehensive income (loss)	527
Ending balance	(1,975)
Employee Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(128,536)
Other comprehensive loss before reclassifications	(2,719)
Adjustments for items reclassified to earnings, net of tax	2,430
Net other comprehensive income (loss)	(289)
Ending balance	(128,825)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(92,381)
Other comprehensive loss before reclassifications	(23,683)
Adjustments for items reclassified to earnings, net of tax	2,957
Net other comprehensive income (loss)	(20,726)
Ending balance	(113,107)
Noncontrolling Interests [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	12
Other comprehensive loss before reclassifications	(66)
Net other comprehensive income (loss)	(66)
Ending balance	$ (54)

Members' Equity - Gains (Losses) Reclassified Out of AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less - tax expense	$ 6,779	$ 10,535	$ 9,801	$ 15,369
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	1,475		2,957
Interest Rate Hedge [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of interest rate hedge	263		527
Employee Benefit Plans [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization expense relating to employee benefit plans	1,612		3,232
Less - tax expense	400		802
Net of tax	$ 1,212		$ 2,430

Members' Equity - Net Income Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests	$ 264	$ 1,647	$ 2,361	$ 3,826
Noncontrolling interests	71,309		71,309		$ 75,908
Edgewater [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests	287	1,698	2,653	3,872
Noncontrolling interests	71,020		71,020		75,262
Other [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable To Noncontrolling Interests	(23)	$ (51)	(292)	$ (46)
Noncontrolling interests	$ 289		$ 289		$ 646

Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2012	Jun. 30, 2013	Jun. 30, 2012	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs issued due to dividend participation rights		131,669	310,756
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%
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%
Lazard Fund Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization expense over a weighted-average period , years		1 year 10 months 24 days
March 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested		33.00%
March 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested		67.00%
Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements, 2005 Plan		25,000,000
Class A Common Stock [Member] \| Awarded under 2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding Class A common stock		30.00%
Class A Common Stock [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery		3,309,900	967,828
Delivery of common stock associated with stock awards		5,280,099	2,664,104
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Portion of annual compensation elected to be paid in DSUs in lieu of cash		39,315	49,735
Units granted under the directors deferred unit plan		3,916	5,489
Shares granted		43,231	55,224
Weighted Average Grant Date Fair Value, Granted		$ 34.09	$ 23.32
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 236,000
Unrecognized compensation expense, years		1 year 6 months
Shares granted		4,689,312	7,847,541
Weighted Average Grant Date Fair Value, Granted		$ 36.95	$ 27.51
RSUs [Member] \| Liability awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forward purchase agreements	958,213
Liability awards, compensation expense		$ 1,690
Liability awards settled				$ 28,612
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery		17,915	28,129
Unrecognized compensation expense, years		1 year 8 months 12 days
Unrecognized compensation expense		$ 11,000
Restricted Stock [Member] \| Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock delivered by Company, shares		1,709,206	103,614
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 14,000
Weighted Average Grant Date Fair Value, Granted		$ 36.11
Amortization expense over a weighted-average period , years		1 year 10 months 24 days
PRSUs [Member] \| Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		448,128
PRSUs [Member] \| Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of actual awards times target number of common stock		1
PRSUs [Member] \| Class A Common Stock [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of actual awards times target number of common stock		0
PRSUs [Member] \| Class A Common Stock [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of actual awards times target number of common stock		3

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, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Share-based incentive awards:
Share-based incentive awards	$ 56,667	$ 65,741	$ 127,344	$ 151,842
RSUs [Member]
Share-based incentive awards:
Share-based incentive awards	52,147	63,428	117,089	145,319
PRSUs [Member]
Share-based incentive awards:
Share-based incentive awards	1,995		2,433
Restricted Stock [Member]
Share-based incentive awards:
Share-based incentive awards	1,824	1,704	7,085	5,879
DSUs [Member]
Share-based incentive awards:
Share-based incentive awards	$ 701	$ 609	$ 737	$ 644

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost Saving Initiatives	$ 14	$ 247
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost Saving Initiatives	$ 4,644	$ 9,099

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	21,481,131	20,751,829
Units, Granted	4,689,312	7,847,541
Units, Forfeited	(223,346)	(311,601)
Units, Vested	(8,589,999)	(3,631,932)
Units, Ending Balance	17,357,098	24,655,837
Weighted Average Grant Date Fair Value, Beginning Balance	$ 33.92	$ 36.84
Weighted Average Grant Date Fair Value, Granted	36.95	27.51
Weighted Average Grant Date Fair Value, Forfeited	34.64	35.46
Weighted Average Grant Date Fair Value, Vested	34.99	33.83
Weighted Average Grant Date Fair Value, Ending Balance	$ 34.20	$ 34.32
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	204,496	140,660
Units, Granted	43,231	55,224
Units, Ending Balance	247,727	195,884
Weighted Average Grant Date Fair Value, Beginning Balance	$ 31.47	$ 34.83
Weighted Average Grant Date Fair Value, Granted	34.09	23.32
Weighted Average Grant Date Fair Value, Ending Balance	$ 31.93	$ 31.58

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Parenthetical) (Detail) - shares	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend participation rights	131,669	310,756

Incentive Plans - Summary of Activity Related to Shares of Restricted Class A Common Stock (Detail) - Restricted Stock [Member] - $ / shares	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Beginning Balance	1,972,609	95,332
Units, Granted/Exchanged	368,736	577,323
Units, Forfeited	(35,183)	(18,921)
Units, Vested	(1,727,121)	(131,743)
Units, Ending Balance	579,041	521,991
Weighted Average Grant Date Fair Value, Beginning Balance	$ 34.85	$ 37.63
Weighted Average Grant Date Fair Value, Granted/Exchanged	36.74	29.25
Weighted Average Grant Date Fair Value, Forfeited	33.29	29.51
Weighted Average Grant Date Fair Value, Vested	36.00	28.63
Weighted Average Grant Date Fair Value, Ending Balance	$ 32.73	$ 30.93

Incentive Plans - Summary of Fund Interests and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Prepaid Compensation Asset, Beginning Balance	$ 47,445	$ 17,782
Prepaid Compensation Asset, Granted	72,217	64,631
Prepaid Compensation Asset, Settled
Prepaid Compensation Asset, Forfeited	(685)	(1,008)
Prepaid Compensation Asset, Amortization	(30,226)	(16,985)
Prepaid Compensation Asset, Change in fair value of underlying investments
Prepaid Compensation Asset, Adjustment for estimated forfeitures
Prepaid Compensation Asset, Other	(396)	979
Prepaid Compensation Asset, Ending Balance	88,355	65,399
Compensation Liability, Beginning Balance	97,593	29,900
Compensation Liability, Granted	72,217	64,631
Compensation Liability, Settled	(19,107)	(8,641)
Compensation Liability, Forfeited	(859)	(993)
Compensation Liability, Amortization
Compensation Liability, Change in fair value of underlying investments	248	(89)
Compensation Liability, Adjustment for estimated forfeitures	2,049
Compensation Liability, Other	(916)	833
Compensation Liability, Ending Balance	$ 151,225	$ 85,641

Incentive Plans - Summary of Impact of Fund Interests and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Compensation expense:
Amortization, net of forfeitures	$ 19,052	$ 10,800	$ 32,101	$ 16,985
Change in fair value of underlying investments	(3,477)	(2,856)	248	(89)
Total	$ 15,575	$ 7,944	$ 32,349	$ 16,896

Incentive Plans - Summary of Impact of Fund Interests and Other Similar Deferred Compensation Arrangements (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Lazard Fund Interests and other similar deferred compensation arrangements [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost Saving Initiatives	$ 1,748	$ 2,665

Employee Benefit Plans - Additional Information (Detail) £ in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2013 USD ($)	Jun. 30, 2013 GBP (£)	Dec. 31, 2011 USD ($)	Dec. 31, 2011 GBP (£)	Dec. 31, 2012 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Aggregate amount in account security arrangement \| $	$ 15,600				$ 16,500
United Kingdom Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans			$ 3,687	£ 2,300
Amended amount from previous escrow arrangement \| £				£ 10,200
UK Pension Plan USDs [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans	1,543	£ 1,000
Other Non-US Pension Plans USDs [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans \| $	0
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans \| $	$ 0
Payments from 2014 through 2020 [Member]
Defined Benefit Plan Disclosure [Line Items]
Additional contribution to plan assets or escrow account \| £		1,000
Payments from 2012 through 2020 [Member]
Defined Benefit Plan Disclosure [Line Items]
Additional contribution to plan assets or escrow account \| £		£ 1,000

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Pension Plans [Member]
Components of Net Benefit Cost (Credit):
Service cost	$ 309	$ 166	$ 623	$ 338
Interest cost	6,689	6,885	13,442	13,787
Expected return on plan assets	(6,585)	(6,622)	(13,382)	(13,294)
Amortization of:
Prior service cost	700	687	1,406	1,388
Net actuarial loss	912	420	1,826	831
Settlement loss		886		886
Net benefit cost	2,025	2,422	3,915	3,936
Medical Plan [Member]
Components of Net Benefit Cost (Credit):
Service cost	17	19	27	30
Interest cost	44	52	91	105
Expected return on plan assets
Amortization of:
Prior service cost
Net actuarial loss
Settlement loss
Net benefit cost	$ 61	$ 71	$ 118	$ 135

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Net charges to OCI	$ 704	$ (3,457)	$ (2,719)	$ (6,054)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial losses	912	420	1,826	831
Settlements loss		886		886
Net charges to OCI		1,049		1,049
Remeasurement [Member] \| Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial losses		$ 1,935		$ 1,935

Cost Saving Initiatives - Activity Related to Obligations Pursuant to Cost Saving Initiatives (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2013 USD ($)
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 47,842
New charges	64,703
Non-cash charges	(15,029)
Settlements	(41,193)
Ending Balance	56,323
Accrued Compensation and Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	46,128
New charges	51,399
Non-cash charges	(12,007)
Settlements	(40,031)
Ending Balance	45,489
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	1,714
New charges	13,304
Non-cash charges	(3,022)
Settlements	(1,162)
Ending Balance	$ 10,834

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Provisions for income tax	$ 6,779	$ 10,535	$ 9,801	$ 15,369
Effective income tax rates	16.20%	23.20%	15.50%	19.70%
U.S. federal statutory income tax rate			35.00%

Related Parties - Amounts Receivable from and Payable to Related Parties (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
Amounts receivables from related parties	$ 124,031	$ 128,388
Amounts payables to related parties	203,892	209,072
LFCM Holdings [Member]
Related Party Transaction [Line Items]
Amounts receivables from related parties	14,232	20,529
Amounts payables to related parties	4,749	2,943
Lazard Ltd Subsidiaries [Member]
Related Party Transaction [Line Items]
Amounts receivables from related parties	108,789	104,587
Amounts payables to related parties	199,133	205,424
Other [Member]
Related Party Transaction [Line Items]
Amounts receivables from related parties	1,010	3,272
Amounts payables to related parties	$ 10	$ 705

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Mar. 31, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Related Party Transaction [Line Items]
Related party payables	$ 203,892			$ 203,892		$ 209,072
LFCM Holdings [Member]
Related Party Transaction [Line Items]
Amounts recorded relating to the administrative services agreement	300	$ 702		932	$ 1,515
Amounts recorded relating to net referral fees for underwriting, private placement, and restructuring transactions	(970)	3,552		(470)	4,366
Related party payables	4,749			4,749		2,943
LFCM Holdings [Member] \| Administrative and Support Services and Others [Member]
Related Party Transaction [Line Items]
Related party receivables	8,568			8,568		14,299
LFCM Holdings [Member] \| Referral Fees for Underwriting and Private Placement Transactions [Member]
Related Party Transaction [Line Items]
Related party receivables	5,664			5,664		6,230
LFCM Holdings [Member] \| Advances and Referral Fees [Member]
Related Party Transaction [Line Items]
Related party payables	4,749			4,749		$ 2,943
LAZ-MD Holdings [Member] \| Administrative Services Agreement [Member]
Related Party Transaction [Line Items]
Amounts recorded relating to the administrative services agreement	$ 250	187		$ 500	375
MBA Lazard Holdings S.A. [Member]
Related Party Transaction [Line Items]
Percentage of ownership	50.00%			50.00%		50.00%
Lazard Ltd Subsidiaries [Member]
Related Party Transaction [Line Items]
Related party receivables	$ 104,953			$ 104,953		$ 101,833
Related party payables	199,133			199,133		205,424
Interest income related to interest-bearing loans	1,579	2,880		3,121	5,460
Notes payable related parties current and noncurrent	194,700			194,700		202,000
Loss on sales of intercompany receivables to related party			$ 5,638
Interest expense related to interest-bearing loans with subsidiaries	1,948	$ 2,918		3,987	$ 5,116
Lazard Ltd Subsidiaries [Member] \| Acquisition Related [Member]
Related Party Transaction [Line Items]
Related party payables	3,410			3,410		3,410
Sales of Intercompany Receivable [Member]
Related Party Transaction [Line Items]
Related party payables	$ 77,000			$ 77,000		$ 86,000

Regulatory Authorities - Additional Information (Detail) $ in Thousands	Jun. 30, 2013 USD ($)
LFNY [Member]
Regulatory Authorities [Line Items]
Specified fixed percentage, minimum required capital	6.67%
Minimum net capital requirement as defined under securities exchange act	$ 100
Regulatory net capital	128,583
Regulatory capital in excess of minimum requirement	124,897
U.K. Subsidiaries [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	74,781
Regulatory capital in excess of minimum requirement	54,858
CFLF [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	185,983
Regulatory capital in excess of minimum requirement	154,183
Other U.S. and Non-U.S. Subsidiaries [Member]
Regulatory Authorities [Line Items]
Regulatory net capital	103,267
Regulatory capital in excess of minimum requirement	$ 76,657

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, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Segment Reporting Information [Line Items]
Net Revenue (Expense)	$ 490,327	$ 436,937	$ 891,511	$ 917,465
Operating Expenses	448,391	391,483	828,351	839,433
Operating Income (Loss)	41,936	45,454	63,160	78,032
Total Assets
Total Assets	2,985,052		2,985,052		$ 3,048,380
Financial Advisory [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenue (Expense)	263,307	242,624	431,769	519,820
Operating Expenses	239,766	231,200	456,674	481,097
Operating Income (Loss)	23,541	11,424	(24,905)	38,723
Total Assets
Total Assets	722,702		722,702		793,007
Asset Management [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenue (Expense)	245,499	211,053	489,524	425,580
Operating Expenses	187,554	156,616	342,631	317,106
Operating Income (Loss)	57,945	54,437	146,893	108,474
Total Assets
Total Assets	539,662		539,662		566,677
Corporate [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenue (Expense)	(18,479)	(16,740)	(29,782)	(27,935)
Operating Expenses	21,071	3,667	29,046	41,230
Operating Income (Loss)	(39,550)	$ (20,407)	(58,828)	$ (69,165)
Total Assets
Total Assets	$ 1,722,688		$ 1,722,688		$ 1,688,696

Cost Saving Initiatives - Schedule of Pre-Tax Implementation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	$ 38,381	$ 64,703
Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	26,728	51,399
Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	11,653	13,304
Cumulative Components [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		167,279
Cumulative Components [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		151,386
Cumulative Components [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		15,893
Financial Advisory [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	25,764	47,779
Financial Advisory [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	25,352	45,746
Financial Advisory [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	412	2,033
Financial Advisory [Member] \| Cumulative Components [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		125,311
Financial Advisory [Member] \| Cumulative Components [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		121,879
Financial Advisory [Member] \| Cumulative Components [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		3,432
Asset Management [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		235
Asset Management [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		236
Asset Management [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		(1)
Asset Management [Member] \| Cumulative Components [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		13,024
Asset Management [Member] \| Cumulative Components [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		12,292
Asset Management [Member] \| Cumulative Components [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		732
Corporate [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	12,617	16,689
Corporate [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	1,376	5,417
Corporate [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date	$ 11,241	11,272
Corporate [Member] \| Cumulative Components [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		28,944
Corporate [Member] \| Cumulative Components [Member] \| Compensation and Benefits [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		17,215
Corporate [Member] \| Cumulative Components [Member] \| Other [Member]
Restructuring and Related Cost [Abstract]
Restructuring and Related Cost, Cost Incurred to Date		$ 11,729