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

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure Abstract

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

LAZARD GROUP LLC

(parent company only)

CONDENSED STATEMENTS OF FINANCIAL CONDITION

DECEMBER 31, 2019 AND 2018

(dollars in thousands)

	December 31,
	2019			2018
ASSETS
Cash and cash equivalents	$	136,729		$	157,398
Due from subsidiaries of Lazard Ltd		547,725			368,789
Other receivables, net		2,325			5,200
Investments in subsidiaries, equity method		1,291,168			1,384,874
Other investments		273,689			346,807
Property, net		106,170			104,416
Operating lease right-of-use assets		356,299			-
Goodwill and other intangibles assets-net		37,138			37,138
Other assets		61,578			67,393
Total assets	$	2,812,821		$	2,472,015
LIABILITIES AND MEMBERS’ EQUITY
Liabilities:
Accrued compensation and benefits	$	176,634		$	165,121
Due to subsidiaries of Lazard Ltd		262,303			214,322
Operating lease liabilities		430,851			-
Senior debt		1,679,562			1,434,260
Other liabilities		44,551			128,267
Total liabilities		2,593,901			1,941,970
Commitments and contingencies
MEMBERS’ EQUITY
Members' equity		469,324			758,705
Accumulated other comprehensive loss, net of tax		(250,404	)		(228,660	)
Total members’ equity		218,920			530,045
Total liabilities and members’ equity	$	2,812,821		$	2,472,015

LAZARD GROUP LLC

(parent company only)

CONDENSED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

(dollars in thousands)

	Year Ended December 31,
	2019			2018			2017
REVENUE
Equity in earnings of subsidiaries	$	500,085		$	746,962		$	710,143
Interest income		6,054			5,226			1,891
Other		29,772			(2,697	)		7,851
Total revenue		535,911			749,491			719,885
Interest expense		75,780			57,546			52,122
Net revenue		460,131			691,945			667,763
OPERATING EXPENSES
Compensation and benefits		109,449			94,471			103,311
Professional services		8,426			6,423			7,060
Amortization and other acquisition-related (benefits) costs		(1,309	)		(2,568	)		2,876
Other		20,008			26,290			7,903
Total operating expenses		136,574			124,616			121,150
OPERATING INCOME		323,557			567,329			546,613
Provision for income taxes		1,177			1,732			986
NET INCOME	$	322,380		$	565,597		$	545,627

LAZARD GROUP LLC

(parent company only)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

(dollars in thousands)

	Year Ended December 31,
	2019			2018			2017
NET INCOME	$	322,380		$	565,597		$	545,627
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments		8,460			(39,039	)		65,514
Employee benefit plans:
Prior service costs (net of tax benefit of $17 and $543 for the years ended December 31, 2019 and 2018, respectively)		(84	)		(2,653	)		-
Actuarial gain (loss) (net of tax benefit of $8,396, $203 and $3,475 for the years ended December 31, 2019, 2018 and 2017, respectively)		(34,837	)		(2,447	)		2,054
Adjustments for items reclassified to earnings (net of tax expense of $1,167, $2,335 and $2,220 for the years ended December 31, 2019, 2018 and 2017, respectively)		4,717			10,735			7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX		(21,744	)		(33,404	)		75,519
COMPREHENSIVE INCOME	$	300,636		$	532,193		$	621,146

LAZARD GROUP LLC

(parent company only)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

(dollars in thousands)

	Year Ended December 31,
	2019			2018			2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	322,380		$	565,597		$	545,627
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries		(500,085	)		(746,962	)		(710,143	)
Deferred tax provision (benefit)		709			84			(88	)
Loss on extinguishment of debt		6,505			6,523			-
Amortization of deferred expenses and share-based incentive compensation		337,615			337,872			335,909
Depreciation and amortization of property		11,626			12,200			10,451
Noncash lease expense		20,289			-			-
Amortization and other acquisition-related (benefits) costs		(1,309	)		(2,568	)		2,876
Distributions received from subsidiaries		549,211			676,061			724,839
Changes in operating assets and liabilities:
Due to/from subsidiaries		(86,074	)		117,393			(19,729	)
Other investments		73,118			(205,201	)		(1,913	)
Other operating assets and liabilities		(90,389	)		(64,787	)		(53,541	)
Net cash provided by operating activities		643,596			696,212			834,288
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property		(15,553	)		(23,904	)		(8,928	)
Capital contribution to subsidiaries		(20,953	)		(4,914	)		(1,996	)
Net cash used in investing activities		(36,506	)		(28,818	)		(10,924	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from:
Issuance of senior debt, net of expenses		492,032			490,970			-
Other financing activities		925			25			-
Payments for:
Senior debt		(255,746	)		(255,543	)		-
Distributions of members		(263,935	)		(448,912	)		(346,072	)
Settlement of vested share-based incentive compensation		(99,960	)		(110,361	)		(67,899	)
Purchase of Lazard Ltd Class A common stock		(494,687	)		(552,872	)		(310,872	)
Other financing activities		(6,388	)		(6,339	)		(6,151	)
Net cash used in financing activities		(627,759	)		(883,032	)		(730,994	)
Net increase (decrease) in cash and cash equivalents		(20,669	)		(215,638	)		92,370
Cash and cash equivalents, January 1		157,398			373,036			280,666
Cash and cash equivalents, December 31	$	136,729		$	157,398		$	373,036

LAZARD GROUP LLC

(parent company only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1.	BASIS OF PRESENTATION

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

The Parent Company Financial Statements as of December 31, 2019 and 2018, and for each of the three years in the period ended December 31, 2019, are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and the disclosures in the condensed financial statements. Management believes that the estimates utilized in the preparation of the condensed financial statements are reasonable. Actual results could differ materially from these estimates.

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

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 1,164,135	$ 1,185,040
Deposits with banks and short-term investments	1,180,686	1,006,969
Cash deposited with clearing organizations and other segregated cash	43,280	38,379
Receivables (net of allowance for doubtful accounts of $27,130 and $40,115 at December 31, 2019 and 2018, respectively):
Fees	537,342	499,068
Customers and other	125,697	184,137
Lazard Ltd subsidiaries	34,612	21,103
Total receivables, net	697,651	704,308
Investments	531,995	575,148
Property (net of accumulated amortization and depreciation of $366,880 and $339,448 at December 31, 2019 and 2018, respectively)	218,871	211,713
Operating lease right-of-use assets	551,050
Goodwill and other intangible assets (net of accumulated amortization of $65,757 and $63,591 at December 31, 2019 and 2018, respectively)	351,797	354,463
Deferred tax assets	55,728	55,042
Other assets	256,435	258,413
Total Assets	5,051,628	4,389,475
Liabilities:
Deposits and other customer payables	1,246,200	1,154,208
Accrued compensation and benefits	599,910	583,730
Operating lease liabilities	643,808
Senior debt	1,679,562	1,434,260
Payable to Lazard Ltd subsidiaries	63,399	63,185
Deferred tax liabilities	3,497	5,539
Other liabilities	527,926	565,801
Total Liabilities	4,764,302	3,806,723
Commitments and contingencies
MEMBERS’ EQUITY
Members' equity (net of 7,675,688 and 16,737,000 shares of Lazard Ltd Class A common stock, at a cost of $304,083 and $729,910 at December 31, 2019 and 2018, respectively)	469,324	758,705
Accumulated other comprehensive loss, net of tax	(250,404)	(228,660)
Total Lazard Group LLC Members' Equity	218,920	530,045
Noncontrolling interests	68,406	52,707
Total Members’ Equity	287,326	582,752
Total Liabilities and Members’ Equity	$ 5,051,628	$ 4,389,475

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME	$ 333,596	$ 570,920	$ 551,890
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments	8,460	(39,039)	65,516
Employee benefit plans:
Prior service costs (net of tax benefit of $17 and $543 for the years ended December 31, 2019 and 2018, respectively)	(84)	(2,653)
Actuarial gain (loss) (net of tax benefit of $8,396, $203 and $3,475 for the years ended December 31, 2019, 2018 and 2017, respectively)	(34,837)	(2,447)	2,054
Adjustment for items reclassified to earnings (net of tax expense of $1,167, $2,335 and $2,220 for the years ended December 31, 2019, 2018 and 2017, respectively)	4,717	10,735	7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(21,744)	(33,404)	75,521
COMPREHENSIVE INCOME	311,852	537,516	627,411
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	11,216	5,323	6,265
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	$ 300,636	$ 532,193	$ 621,146

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The components of the Company’s provision for income taxes for the years ended December 31, 2019, 2018 and 2017, and a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rates for such years, are shown below.

	Year Ended December 31,
	2019		2018			2017
Current:
Federal	$	3,871	$	1,569		$	774
Foreign		57,220		91,073			62,666
State and local		3,934		5,058			2,038
Total current		65,025		97,700			65,478
Deferred:
Federal		49		667			1,045
Foreign		225		(10,227	)		12,961
State and local		1,299		223			2,379
Total deferred		1,573		(9,337	)		16,385
Total	$	66,598	$	88,363		$	81,863

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

	Year Ended December 31,
	2019			2018			2017
U.S. federal statutory income tax rate		21.0	%		21.0	%		35.0	%
Rate benefit for U.S. Partnership operations		(21.0	)		(21.0	)		(35.0	)
Foreign taxes		11.9			12.0			12.1
State and local taxes		0.9			0.5			0.8
Uncertain tax positions		2.9			0.5			(0.3	)
Other		0.9			0.4			0.3
Effective income tax rate		16.6	%		13.4	%		12.9	%

Schedule of Deferred Tax Assets and Liabilities

Details of the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2019			2018
Deferred Tax Assets:
Basis adjustments (a)	$	2,218		$	5,334
Compensation and benefits		63,057			60,185
Net operating loss and tax credit carryforwards		62,629			66,962
Depreciation and amortization		6,028			1,637
Other		5,523			10,024
Gross deferred tax assets		139,455			144,142
Valuation allowance		(70,429	)		(67,997	)
Deferred tax assets (net of valuation allowance)		69,026			76,145
Deferred Tax Liabilities:
Depreciation and amortization		6,175			1,478
Compensation and benefits		7,058			9,806
Goodwill		255			480
Other		3,307			14,878
Deferred tax liabilities		16,795			26,642
Net deferred tax assets	$	52,231		$	49,503

(a)	The basis adjustments recorded as of December 31, 2019 and 2018 are primarily the result of additional basis from acquisitions of interests.

Summary of Changes in Deferred Tax Assets Valuation Allowance

Changes in the deferred tax assets valuation allowance for the years ended December 31, 2019, 2018 and 2017 was as follows:

	Year Ended December 31,
	2019			2018			2017
Beginning Balance	$	67,997		$	54,487		$	55,194
Charged (credited) to provision for income taxes		2,575			15,789			(15,998	)
Charged (credited) to other comprehensive income and other (a)		(143	)		(2,279	)		15,291
Ending Balance	$	70,429		$	67,997		$	54,487

(a)	In accordance with the accounting guidance described above, 2017 includes recognition of previously unrecognized excess tax benefits offset by a valuation allowance of $12,090 recorded to retained earnings.

Schedule of Gross Unrecognized Tax Benefits

A reconciliation of the beginning to the ending amount of gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2019, 2018 and 2017 is as follows:

	Year Ended December 31,
	2019			2018			2017
Balance, January 1 (excluding interest and penalties of $15,830, $15,136 and $15,392, respectively)	$	47,674		$	47,426		$	47,901
Increases in gross unrecognized tax benefits relating to tax positions taken during:
Prior years		11,764			652			1,598
Current year		16,795			11,960			12,608
Decreases in gross unrecognized tax benefits relating to:
Tax positions taken during prior years		(19	)		(699	)		(2,961	)
Settlements with tax authorities		(7,251	)		(1,218	)		-
Lapse of the applicable statute of limitations		(8,125	)		(10,447	)		(11,720	)
Balance, December 31 (excluding interest and penalties of $18,161, $15,830 and $15,136, respectively)	$	60,838		$	47,674		$	47,426

Schedule of Additional Information Relating to Unrecognized Tax Benefits

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

	Year Ended December 31,
	2019		2018		2017
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $18,161, $15,830 and $15,136, respectively)	$	65,193	$	53,854	$	52,007
Unrecognized tax benefits that, if recognized, would not affect the effective tax rate	$	13,806	$	9,650	$	10,555
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $3,455, $4,889 and $6,185, respectively)	$	2,331	$	694	$	(256	)

Derivatives - Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 1,395	$ 11,967
Derivative Liabilities	236,273	188,962
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	1,395	1,543
Derivative Liabilities	1,720	939
Total Return Swaps and Other [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets		10,424
Derivative Liabilities	8,527	1
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 226,026	$ 188,022

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION:
Cash and cash equivalents	$ 1,164,135	$ 1,185,040	$ 1,470,296
Deposits with banks and short-term investments	1,180,686	1,006,969	935,431
Cash deposited with clearing organizations and other segregated cash	43,280	38,379	35,539
TOTAL CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	2,388,101	2,230,388	2,441,266
Cash paid during the year for:
Interest	69,489	50,696	49,502
Income taxes, net of refunds	$ 80,739	$ 94,069	$ 53,337

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets:
Beginning Balance	$ 1,622	$ 1,592	$ 1,508
Net Unrealized/Realized Gains/Losses Included In Earnings	(781)	61	14
Purchases/Acquisitions/ Transfers	2,131	1	1,661
Sales/ Dispositions/Settlements	0		(1,669)
Foreign Currency Translation Adjustments	(1)	(32)	78
Ending Balance	2,971	1,622	1,592
Liabilities:
Beginning Balance	1,309	4,656	3,364
Net Unrealized/Realized Gains/Losses Included In Earnings	(1,309)	(3,347)	1,292
Purchases/Acquisitions/ Transfers	0	0	0
Sales/ Dispositions/Settlements	0	0	0
Foreign Currency Translation Adjustments	0	0	0
Ending Balance	0	1,309	4,656
Contingent Consideration Liability [Member]
Liabilities:
Beginning Balance	1,309	4,656	3,364
Net Unrealized/Realized Gains/Losses Included In Earnings	(1,309)	(3,347)	1,292
Purchases/Acquisitions/ Transfers	0	0	0
Sales/ Dispositions/Settlements	0	0	0
Foreign Currency Translation Adjustments	0	0	0
Ending Balance	0	1,309	4,656
Equities [Member]
Assets:
Beginning Balance	1,622	1,592	1,508
Net Unrealized/Realized Gains/Losses Included In Earnings	(21)	61	14
Purchases/Acquisitions/ Transfers	0	1	1,661
Sales/ Dispositions/Settlements	0		(1,669)
Foreign Currency Translation Adjustments	(1)	(32)	78
Ending Balance	1,600	$ 1,622	$ 1,592
Private Equity Funds [Member]
Assets:
Net Unrealized/Realized Gains/Losses Included In Earnings	(760)
Purchases/Acquisitions/ Transfers	2,131
Sales/ Dispositions/Settlements	0
Foreign Currency Translation Adjustments	0
Ending Balance	$ 1,371

Leases - Summary of Supplemental Cash Flow Information and Certain Other Information Related to Operating Leases (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 84,764
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 607,770
Weighted average remaining lease term	12 years
Weighted average discount rate	3.60%

Schedule I - Condensed Statements of Financial Condition (Parent Company Only) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 1,164,135		$ 1,185,040	$ 1,470,296
Property, net	218,871		211,713
Operating lease right-of-use assets	551,050	$ 501,000
Goodwill and other intangibles assets-net	351,797		354,463
Other assets	256,435		258,413
Total Assets	5,051,628		4,389,475	4,300,573
Liabilities:
Accrued compensation and benefits	599,910		583,730
Operating lease liabilities	643,808	$ 581,000
Senior debt	1,679,562		1,434,260
Other liabilities	527,926		565,801
Total Liabilities	4,764,302		3,806,723
Commitments and contingencies
MEMBERS’ EQUITY
Members' equity	469,324		758,705
Accumulated other comprehensive loss, net of tax	(250,404)		(228,660)
Total Members’ Equity	287,326		582,752	$ 906,900	$ 736,140
Total Liabilities and Members’ Equity	5,051,628		4,389,475
Parent Company [Member]
ASSETS
Cash and cash equivalents	136,729		157,398
Due from subsidiaries of Lazard Ltd	547,725		368,789
Other receivables, net	2,325		5,200
Investments in subsidiaries, equity method	1,291,168		1,384,874
Other investments	273,689		346,807
Property, net	106,170		104,416
Operating lease right-of-use assets	356,299
Goodwill and other intangibles assets-net	37,138		37,138
Other assets	61,578		67,393
Total Assets	2,812,821		2,472,015
Liabilities:
Accrued compensation and benefits	176,634		165,121
Due to subsidiaries of Lazard Ltd	262,303		214,322
Operating lease liabilities	430,851
Senior debt	1,679,562		1,434,260
Other liabilities	44,551		128,267
Total Liabilities	2,593,901		1,941,970
Commitments and contingencies
MEMBERS’ EQUITY
Members' equity	469,324		758,705
Accumulated other comprehensive loss, net of tax	(250,404)		(228,660)
Total Members’ Equity	218,920		530,045
Total Liabilities and Members’ Equity	$ 2,812,821		$ 2,472,015

Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2019

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

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, profits interest participation rights, including PRPUs, and other share-based awards) and “professional services” expense (with respect to DSUs) within the Company’s accompanying consolidated statements of operations:

	Year Ended December 31,
	2019		2018		2017
Share-based incentive awards:
RSUs	$	168,338	$	193,924	$	190,821
PRSUs		8,742		34,114		40,767
Restricted Stock		29,322		37,261		39,369
Profits interest participation rights		44,537		-		-
DSUs		1,173		1,137		1,004
Total	$	252,112	$	266,436	$	271,961

Summary of LFI and Other Similar Deferred Compensation Arrangements

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the year ended December 31, 2019:

	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2019	$	76,362		$	188,022
Granted		101,529			101,529
Settled		-			(96,976	)
Forfeited		(1,702	)		(3,455	)
Amortization		(101,663	)		-
Change in fair value related to:
Increase in fair value of underlying investments		-			31,657
Adjustment for estimated forfeitures		-			5,340
Other		71			(91	)
Balance, December 31, 2019	$	74,597		$	226,026

The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017:

	Year Ended Ended December 31,
	2019		2018			2017
Amortization, net of forfeitures	$	105,250	$	90,230		$	73,382
Change in the fair value of underlying investments		31,657		(14,086	)		23,526
Total	$	136,907	$	76,144		$	96,908

Restricted Stock Units and Deferred Stock Units [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to RSUs and DSUs for the year ended December 31, 2019:

	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2019		11,362,306		$	43.78		323,546	$	39.27
Granted (including 862,609 RSUs relating to dividend participation)		5,894,764		$	38.65		72,427	$	32.38
Forfeited		(962,038	)	$	43.43		-		-
Settled		(5,907,466	)	$	37.17		-		-
Balance, December 31, 2019		10,387,566		$	44.66		395,973	$	38.01

Restricted Stock Awards Class A [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during year ended December 31, 2019:

	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2019		1,541,058		$	43.16
Granted		1,039,736		$	35.32
Forfeited		(231,591	)	$	40.57
Settled		(1,309,897	)	$	38.49
Balance, December 31, 2019		1,039,306		$	41.79

PRSUs [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to PRSUs during the year ended December 31, 2019:

	PRSUs			Weighted Average Grant Date Fair Value
Balance, January 1, 2019		1,771,795		$	38.66
Performance units earned (a)		196,991		$	38.09
Settled		(1,171,081	)	$	32.44
Balance, December 31, 2019		797,705		$	47.65

(a)	Represents shares of Class A common stock earned during the fiscal year under the performance criteria of previously-granted PRSU awards in excess of the target payout level of such awards.

Profits Interest Participation Rights [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the year ended December 31, 2019:

	Profits Interest Participation Rights		Weighted Average Grant Date Fair Value
Balance, January 1, 2019		-		-
Granted (a)		1,462,702	$	38.65
Balance, December 31, 2019		1,462,702	$	38.65

(a)	Table includes 564,167 PRPUs, which represents the target number of PRPUs granted during the fiscal year.

- Definition

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

+ References + Details

Receivables

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Receivables

5.	RECEIVABLES

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

Receivables are stated net of an estimated allowance for doubtful accounts, for past due amounts and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute.

Activity in the allowance for doubtful accounts for the years ended December 31, 2019, 2018 and 2017 was as follows:

	Year Ended December 31,
	2019			2018			2017
Beginning Balance	$	40,115		$	23,692		$	16,386
Bad debt expense, net of recoveries		(5,080	)		27,164			15,419
Charge-offs, foreign currency translation and other adjustments		(7,905	)		(10,741	)		(8,113	)
Ending Balance	$	27,130		$	40,115		$	23,692

Bad debt expense, net of recoveries is included in “operating expenses - other” on the consolidated statements of operations.

At December 31, 2019 and 2018, the Company had receivables past due or deemed uncollectible of $43,339 and $42,260, respectively.

Of the Company’s fee receivables at December 31, 2019 and 2018, $77,052 and $90,966, respectively, represented interest-bearing financing receivables. Based upon our historical loss experience, the credit quality of the counterparties, and the lack of past due or uncollectible amounts, there was no allowance for doubtful accounts required at those dates related to such receivables.

The aggregate carrying amount of our non-interest bearing receivables of $620,599 and $613,342 at December 31, 2019 and 2018, respectively, approximates fair value.

Investments - Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net Realized Or Unrealized Gain Loss On Trading Securities [Abstract]
Net unrealized investment gains (losses)	$ 36,610	$ (43,009)	$ 27,192

Goodwill and Other Intangible Assets - Gross Cost and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	$ 67,525	$ 67,225
Other intangible assets, Accumulated Amortization	65,757	63,591
Other intangible assets, Net Carrying Amount	1,768	3,634
Success/Incentive Fees [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	33,040	33,040
Other intangible assets, Accumulated Amortization	31,542	30,043
Other intangible assets, Net Carrying Amount	1,498	2,997
Management Fees, Customer Relationships and Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, Gross Cost	34,485	34,185
Other intangible assets, Accumulated Amortization	34,215	33,548
Other intangible assets, Net Carrying Amount	$ 270	$ 637

Income Taxes - Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	35.00%
Rate benefit for U.S. Partnership operations	(21.00%)	(21.00%)	(35.00%)
Foreign taxes	11.90%	12.00%	12.10%
State and local taxes	0.90%	0.50%	0.80%
Uncertain tax positions	2.90%	0.50%	(0.30%)
Other	0.90%	0.40%	0.30%
Effective income tax rate	16.60%	13.40%	12.90%

Senior Debt - Senior Debt (Parenthetical) (Detail) - USD ($)		3 Months Ended	12 Months Ended
	Apr. 30, 2019	Mar. 31, 2019	Dec. 31, 2019	Sep. 30, 2018
Lazard Group 4.375% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount		$ 500,000,000	$ 500,000,000
Interest rate, payment terms			Interest on the 2029 Notes is payable semi-annually on March 11 and September 11 of each year, beginning September 11, 2019.
Senior notes interest rate		4.375%	4.375%
Original Maturity Date			Mar. 11, 2029
Effective interest rates of senior notes			4.54%
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount			$ 500,000,000
Senior notes interest rate			4.25%
Redemption of senior debt aggregate principal amount	$ 82,057,000	$ 167,943,000	$ 250,000,000
Original Maturity Date			Nov. 14, 2020
Lazard Group 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount			$ 500,000,000	$ 500,000,000
Interest rate, payment terms			Interest on the 2028 Notes is payable semi-annually on March 19 and September 19 of each year, beginning March 19, 2019.
Senior notes interest rate			4.50%	4.50%
Original Maturity Date			Sep. 19, 2028
Effective interest rates of senior notes			4.68%
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate			3.75%
Original Maturity Date			Feb. 13, 2025
Effective interest rates of senior notes			3.87%
Lazard Group 3.625% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount			$ 300,000,000
Senior notes interest rate			3.625%
Original Maturity Date			Mar. 01, 2027
Effective interest rates of senior notes			3.76%

Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 350,029	$ 350,829	$ 362,760	$ 352,124
Other intangible assets (net of accumulated amortization)	1,768	3,634
Goodwill and other intangible assets, Total	$ 351,797	$ 354,463

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Tax Assets:
Basis adjustments	$ 2,218	$ 5,334
Compensation and benefits	63,057	60,185
Net operating loss and tax credit carryforwards	62,629	66,962
Depreciation and amortization	6,028	1,637
Other	5,523	10,024
Gross deferred tax assets	139,455	144,142
Valuation allowance	(70,429)	(67,997)	$ (54,487)	$ (55,194)
Deferred tax assets (net of valuation allowance)	69,026	76,145
Deferred Tax Liabilities:
Depreciation and amortization	6,175	1,478
Compensation and benefits	7,058	9,806
Goodwill	255	480
Other	3,307	14,878
Deferred tax liabilities	16,795	26,642
Net deferred tax assets	$ 52,231	$ 49,503

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Detail) - Pension Plans [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 815	$ 884	$ 1,413
Interest cost	15,350	15,569	16,240
Expected return on plan assets	(27,470)	(29,622)	(25,300)
Amortization of:
Prior service cost	110	18	30
Net actuarial loss (gain)	5,025	11,840	10,141
Settlement loss (gain)	749	1,212	807
Net periodic benefit cost (credit)	(5,421)	(99)	3,331
Actual return on plan assets	74,844	(10,608)	43,624
Employer contributions	5,623	22,153	16,844
Benefits paid	30,760	62,056	42,022
Prior service cost (credit)		3,196
Net actuarial (gain) loss	40,311	11,073	(17,357)
Reclassification of prior service (cost) credit to earnings	(110)	(18)	(30)
Reclassification of actuarial gain (loss) to earnings	(5,774)	(13,052)	(10,141)
Currency translation and other adjustments	3,025	(8,424)	18,778
Total recognized in AOCI	37,452	(7,225)	(8,750)
Net amount recognized in total periodic benefit cost and AOCI	$ 32,031	$ (7,324)	$ (5,419)

Employee Benefit Plans - Schedule of Categorization of Plans' Assets (Detail) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

$ 710,592

$ 642,837

Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

320,135

277,529

Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

88,140

6,563

NAV [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

^[1]

302,317

358,745

Cash [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

11,742

6,619

Cash [Member] | Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

11,742

6,619

Debt [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

77,940

81,533

Debt [Member] | Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

77,940

81,533

Equities [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

37,898

27,585

Equities [Member] | Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

37,898

27,585

Alternative Investment Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

26,692

29,975

Alternative Investment Funds [Member] | NAV [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

^[1]

26,692

29,975

Debt Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

359,909

333,332

Debt Funds [Member] | Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

8,828

10,593

Debt Funds [Member] | Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

81,898

Debt Funds [Member] | NAV [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

^[1]

269,183

322,739

Equity Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

194,866

162,802

Equity Funds [Member] | Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

183,727

151,199

Equity Funds [Member] | Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

4,697

5,572

Equity Funds [Member] | NAV [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

^[1]

6,442

6,031

Derivative [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

1,545

991

Derivative [Member] | Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Plan assets measured at fair value

$ 1,545

$ 991

[1]	Represents certain investments measured at NAV or its equivalent as a practical expedient in determining fair value. In accordance with current accounting guidance, these investments have not been classified in the fair value hierarchy.

Income Taxes - Schedule of Additional Information Relating to Unrecognized Tax Benefits (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Interest and penalties	$ 18,161	$ 15,830	$ 15,136	$ 15,392
Reversal of interest and penalties	$ 3,455	$ 4,889	$ 6,185

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

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

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

		As of or for the Year Ended December 31,
		2019			2018			2017
Financial Advisory	Net Revenue	$	1,352,168		$	1,548,918		$	1,386,688
	Operating Expenses (a)/(b)		1,196,906			1,206,511			1,130,186
	Operating Income	$	155,262		$	342,407		$	256,502
	Total Assets	$	1,113,266		$	829,898		$	817,185
Asset Management	Net Revenue	$	1,237,390		$	1,331,801		$	1,255,820
	Operating Expenses (a)/(b)		887,522			912,110			810,870
	Operating Income	$	349,868		$	419,691		$	444,950
	Total Assets	$	821,641		$	728,220		$	756,398
Corporate	Net Revenue	$	(26,865	)	$	(63,858	)	$	(2,911	)
	Operating Expenses (a)/(b)		78,071			38,957			64,788
	Operating Loss	$	(104,936	)	$	(102,815	)	$	(67,699	)
	Total Assets	$	3,116,721		$	2,831,357		$	2,726,990
Total	Net Revenue	$	2,562,693		$	2,816,861		$	2,639,597
	Operating Expenses (a)/(b)		2,162,499			2,157,578			2,005,844
	Operating Income	$	400,194		$	659,283		$	633,753
	Total Assets	$	5,051,628		$	4,389,475		$	4,300,573

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

	Year Ended December 31,
	2019		2018		2017
Financial Advisory	$	5,180	$	7,395	$	6,589
Asset Management		2,995		3,253		2,830
Corporate		27,085		23,130		22,072
Total	$	35,260	$	33,778	$	31,491

(b)	See Note 18 for information regarding business realignment.

Schedule of Operating Income, Revenue and Identifiable Assets by Geographical Areas

The following table sets forth the net revenue from, and identifiable assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above. In the table below, Americas principally includes the U.S., EMEA principally includes the U.K. and France, and Asia Pacific principally includes Australia.

	As of or for the Year Ended December 31,
	2019		2018		2017
Net Revenue:
Americas	$	1,519,983	$	1,606,245	$	1,553,356
EMEA		873,007		1,022,994		903,525
Asia Pacific		169,703		187,622		182,716
Total	$	2,562,693	$	2,816,861	$	2,639,597
Operating Income:
Americas	$	249,488	$	412,628	$	404,351
EMEA		120,481		206,578		193,781
Asia Pacific		30,225		40,077		35,621
Total	$	400,194	$	659,283	$	633,753
Identifiable Assets:
Americas	$	2,320,957	$	1,950,138	$	1,972,308
EMEA		2,437,804		2,150,597		2,039,385
Asia Pacific		292,867		288,740		288,880
Total	$	5,051,628	$	4,389,475	$	4,300,573

Fair Value Measurements - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value Option Quantitative Disclosures [Line Items]
Transfers between Level 1, 2 and 3 in fair value measurement hierarchy	$ 0	$ 0
Unfunded Commitments	6,056,000	$ 8,338,000
EGCP III [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 5,484,000
End of the investment period	Oct. 12, 2016
Remaining obligation date	Oct. 12, 2023

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

14.	COMMITMENTS AND CONTINGENCIES

Guarantees—In the normal course of business, LFB provides indemnifications to third parties to protect them in the event of non-performance by their clients. At December 31, 2019, LFB had $2,279 of such indemnifications and held $2,279 of collateral/counter-guarantees to secure these commitments. The Company believes the likelihood of loss with respect to these indemnities is remote. Accordingly, no liability is recorded in the consolidated statement of financial condition.

Other Commitments—The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, each of LFB and LFNY may enter into underwriting commitments in which it will participate as an underwriter. At December 31, 2019, LFB and LFNY had no such underwriting commitments.

See Notes 7 and 17 for information regarding commitments relating to investment capital funding commitments and obligations to fund our pension plans, respectively.

In the opinion of management, the fulfillment of the commitments described herein will not have a material adverse effect on the Company’s 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 an annual basis. Accordingly, the results of any pending matter or matters could be significant when compared to the Company’s earnings in any particular year. 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.

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at December 31, 2019 and 2018 are presented below:

	December 31,
	2019		2018
Goodwill	$	350,029	$	350,829
Other intangible assets (net of accumulated amortization)		1,768		3,634
	$	351,797	$	354,463

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2019, 2018 and 2017 are as follows:

	Year Ended December 31,
	2019			2018			2017
Balance, January 1	$	350,829		$	362,760		$	352,124
Foreign currency translation adjustments		(800	)		(11,931	)		10,636
Balance, December 31	$	350,029		$	350,829		$	362,760

Gross Cost and Accumulated Amortization of Other Intangible Assets

The gross cost and accumulated amortization of other intangible assets as of December 31, 2019 and 2018, by major intangible asset category, are as follows:

	December 31, 2019						December 31, 2018
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/incentive fees	$	33,040	$	31,542	$	1,498	$	33,040	$	30,043	$	2,997
Management fees, customer relationships and non-compete agreements		34,485		34,215		270		34,185		33,548		637
	$	67,525	$	65,757	$	1,768	$	67,225	$	63,591	$	3,634

Estimated Future Amortization Expense

Estimated future amortization expense is as follows:

Year Ending December 31,	Amortization Expense
2020	$	1,558
2021		60
2022		60
2023		60
2024		30
Total amortization expense	$	1,768

Fair Value Measurements - Schedule of Classification of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis and Investments Measured at NAV (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	$ 531,478	$ 574,638
Total Derivative Assets	1,395	11,967
Total investments measured at fair value	532,873	586,605
Securities sold, not yet purchased	12,894	3,929
Contingent consideration liability		1,309
Total Derivative Liabilities	236,273	188,962
Total of Liabilities Measured at Fair Value	249,167	194,200
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total investments measured at fair value	494,619	515,743
Securities sold, not yet purchased	12,894	3,929
Total of Liabilities Measured at Fair Value	12,894	3,929
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total Derivative Assets	1,395	11,967
Total investments measured at fair value	1,395	11,967
Total Derivative Liabilities	236,273	188,962
Total of Liabilities Measured at Fair Value	236,273	188,962
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total investments measured at fair value	2,971	1,622
Contingent consideration liability		1,309
Total of Liabilities Measured at Fair Value		1,309
NAV [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total investments measured at fair value	33,888	57,273
Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	100,000	202,874
Debt [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	100,000	202,874
Equities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	48,521	32,261
Equities [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	46,921	30,639
Equities [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	1,600	1,622
Alternative Investment Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	16,581	17,752
Alternative Investment Funds [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	15,731	16,863
Alternative Investment Funds [Member] \| NAV [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	850	889
Debt Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	113,579	90,320
Debt Funds [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	113,574	90,313
Debt Funds [Member] \| NAV [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	5	7
Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	218,435	175,088
Equity Funds [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	218,393	175,054
Equity Funds [Member] \| NAV [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	42	34
Private Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	34,362	56,343
Private Equity Funds [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	1,371
Private Equity Funds [Member] \| NAV [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments	$ 32,991	$ 56,343

Senior Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Senior Debt

13.	SENIOR DEBT

Senior debt is comprised of the following as of December 31, 2019 and 2018:

							Outstanding as of
	Initial			Annual			December 31, 2019						December 31, 2018
	Principal Amount		Maturity Date	Interest Rate(b)			Principal		Unamortized Debt Costs		Carrying Value		Principal		Unamortized Debt Costs		Carrying Value
Lazard Group 2020 Senior Notes (a)	$	500,000	11/14/20		4.25	%	$	-	$	-	$	-	$	250,000	$	863	$	249,137
Lazard Group 2025 Senior Notes		400,000	2/13/25		3.75	%		400,000		2,416		397,584		400,000		2,888		397,112
Lazard Group 2027 Senior Notes (a)		300,000	3/1/27		3.625	%		300,000		2,822		297,178		300,000		3,215		296,785
Lazard Group 2028 Senior Notes (a)		500,000	9/19/28		4.50	%		500,000		7,814		492,186		500,000		8,774		491,226
Lazard Group 2029 Senior Notes (a)		500,000	3/11/29		4.375	%		500,000		7,386		492,614		-		-		-
Total							$	1,700,000	$	20,438	$	1,679,562	$	1,450,000	$	15,740	$	1,434,260

(a)

During March 2019, Lazard Group completed an offering of $500,000 aggregate principal amount of 4.375% senior notes due 2029 (the “2029 Notes”). Interest on the 2029 Notes is payable semi-annually on March 11 and September 11 of each year, beginning September 11, 2019. Lazard Group used a portion of the net proceeds of the 2029 Notes to redeem or otherwise retire $250,000 aggregate principal amount of the 4.25% senior notes due 2020 (the “2020 Notes”). In March 2019, $167,943 aggregate principal amount was redeemed or otherwise retired, and the remaining $82,057 was redeemed or otherwise retired in April 2019.

During September 2018, Lazard Group completed an offering of $500,000 aggregate principal amount of 4.50% senior notes due 2028 (the “2028 Notes”). Interest on the 2028 Notes is payable semi-annually on March 19 and September 19 of each year, beginning March 19, 2019. Lazard Group used a portion of the net proceeds of the 2028 Notes to redeem or otherwise retire $250,000 aggregate principal amount of the 2020 Notes.

(b)	The effective interest rates of Lazard Group’s 3.75% senior notes due February 13, 2025 (the “2025 Notes”), Lazard Group’s 3.625% senior notes due March 1, 2027 (the “2027 Notes”), the 2028 Notes and the 2029 Notes are 3.87%, 3.76%, 4.68% and 4.54%, respectively.

On September 25, 2015, Lazard Group entered into an Amended and Restated Credit Agreement for a five-year $150,000 senior revolving credit facility with a group of lenders (the “Amended and Restated Credit Agreement”), which expires in September 2020. The Amended and Restated Credit Agreement amended and restated the previous credit agreement dated September 25, 2012. Borrowings under the Amended and Restated Credit Agreement generally will bear interest at LIBOR plus an applicable margin for specific interest periods determined based on Lazard Group’s highest credit rating from an internationally recognized credit agency. At December 31, 2019 and 2018, no amounts were outstanding under the Amended and Restated Credit Agreement.

The Amended and Restated Credit Agreement, the indenture and the supplemental indentures relating to Lazard Group’s senior notes contain certain covenants, events of default and other customary provisions, including a customary make-whole provision in the event of early redemption, where applicable. As of December 31, 2019, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured.

Debt maturities relating to senior borrowings outstanding at December 31, 2019 for each of the five years in the period ending December 31, 2024 and thereafter are set forth in the table below.

Year Ending December 31,
2020 - 2024	$	-
Thereafter		1,700,000
Total	$	1,700,000

The Company’s senior debt at December 31, 2019 and 2018 is carried at historical amounts. See Note 7 for information regarding the fair value and fair value hierarchy category of the Company’s senior debt.

As of December 31, 2019, the Company had approximately $168,000 in unused lines of credit available to it, including the credit facility provided under the Amended and Restated Credit Agreement and unused lines of credit available to LFB of approximately $17,000.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

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

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

	Pension Plans
	2019			2018
Change in benefit obligation
Benefit obligation at beginning of year	$	655,015		$	763,831
Service cost		815			884
Interest cost		15,350			15,569
Amendments		-			3,196
Actuarial (gain) loss		89,242			(27,623	)
Benefits paid		(30,817	)		(64,747	)
Foreign currency translation and other adjustments		15,100			(36,095	)
Benefit obligation at end of year		744,705			655,015
Change in plan assets
Fair value of plan assets at beginning of year		642,837			728,281
Actual return on plan assets		74,844			(10,608	)
Employer contributions		5,623			22,153
Benefits paid		(30,760	)		(62,056	)
Foreign currency translation and other adjustments		18,048			(34,933	)
Fair value of plan assets at end of year		710,592			642,837
Funded (deficit) at end of year	$	(34,113	)	$	(12,178	)
Amounts recognized in the consolidated statements of financial condition at December 31, 2019 and 2018 consist of:
Prepaid pension asset (included in “other assets”)	$	2,922		$	19,573
Accrued benefit liability (included in “other liabilities”)		(37,035	)		(31,751	)
Net amount recognized	$	(34,113	)	$	(12,178	)
Amounts recognized in AOCI (excluding tax benefits of $38,327 and $31,080 at December 31, 2019 and 2018, respectively) consist of:
Actuarial net loss (gain)	$	211,197		$	173,732
Prior service cost (credit)		3,165			3,178
Net amount recognized	$	214,362		$	176,910

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

The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2019 and 2018:

	U.S. Pension Plans				Non-U.S. Pension Plans				Total
	As Of December 31,				As Of December 31,				As Of December 31,
	2019		2018		2019		2018		2019		2018
Fair value of plan assets	$	22,914	$	20,813	$	687,678	$	622,024	$	710,592	$	642,837
Accumulated benefit obligation	$	32,314	$	28,869	$	712,391	$	626,146	$	744,705	$	655,015
Projected benefit obligation	$	32,314	$	28,869	$	712,391	$	626,146	$	744,705	$	655,015

Components of Net Periodic Benefit Cost (Credit)

The following table summarizes the components of net periodic benefit cost (credit), the return on the Company’s post-retirement plan assets, benefits paid, contributions and other amounts recognized in AOCI for the years ended December 31, 2019, 2018 and 2017:

	Pension Plans
	For The Year Ended
	December 31,
	2019			2018			2017
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	815		$	884		$	1,413
Interest cost		15,350			15,569			16,240
Expected return on plan assets		(27,470	)		(29,622	)		(25,300	)
Amortization of:
Prior service cost		110			18			30
Net actuarial loss (gain)		5,025			11,840			10,141
Settlement loss (gain)		749			1,212			807
Net periodic benefit cost (credit)	$	(5,421	)	$	(99	)	$	3,331


Actual return on plan assets	$	74,844		$	(10,608	)	$	43,624
Employer contributions	$	5,623		$	22,153		$	16,844
Benefits paid	$	30,760		$	62,056		$	42,022
Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax expense (benefit) of $(7,247), $1,589 and $(1,255), during the years ended December 31, 2019, 2018 and 2017, respectively):
Net actuarial (gain) loss	$	40,311		$	11,073		$	(17,357	)
Prior service cost (credit)		-			3,196			-
Reclassification of prior service (cost) credit to earnings		(110	)		(18	)		(30	)
Reclassification of actuarial gain (loss) to earnings		(5,774	)		(13,052	)		(10,141	)
Currency translation and other adjustments		3,025			(8,424	)		18,778
Total recognized in AOCI	$	37,452		$	(7,225	)	$	(8,750	)
Net amount recognized in total periodic benefit cost and AOCI	$	32,031		$	(7,324	)	$	(5,419	)

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

The amounts in AOCI on the consolidated statement of financial condition as of December 31, 2019 that are expected to be recognized as components of net periodic benefit cost (credit) for the year ending December 31, 2020 are as follows:

Pension

Plans

Net actuarial loss

6,555

Prior service cost

114

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

The assumptions used to develop actuarial present value of the projected benefit obligation and net periodic pension cost as of or for the years ended December 31, 2019, 2018 and 2017 are set forth below:

	Pension Plans
	December 31,
	2019			2018			2017
Weighted average assumptions used to determine benefit obligations:
Discount rate		1.8	%		2.6	%		2.3	%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		2.2	%		2.4	%		2.2	%
Expected long-term rate of return on plan assets		4.4	%		4.4	%		3.8	%

Schedule of Expected Benefit Payments

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

	Pension
	Plans
2020	$	25,184
2021		27,505
2022		28,771
2023		29,269
2024		30,938
2025-2029		156,960

Schedule of Categorization of Plans' Assets

Plan Assets—The following tables present the categorization of our pension plans’ assets as of December 31, 2019 and 2018, measured at fair value, into a fair value hierarchy and investments measured at NAV or its equivalent as a practical expedient in accordance with fair value measurement disclosure requirements:

	As of December 31, 2019
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Cash	$	11,742	$	-	$	-	$	-	$	11,742
Debt		77,940		-		-		-		77,940
Equities		37,898		-		-		-		37,898
Funds:
Alternative investments		-		-		-		26,692		26,692
Debt		8,828		81,898		-		269,183		359,909
Equity		183,727		4,697		-		6,442		194,866
Derivatives		-		1,545		-		-		1,545
Total	$	320,135	$	88,140	$	-	$	302,317	$	710,592

	As of December 31, 2018
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Cash	$	6,619	$	-	$	-	$	-	$	6,619
Debt		81,533		-		-		-		81,533
Equities		27,585		-		-		-		27,585
Funds:
Alternative investments		-		-		-		29,975		29,975
Debt		10,593		-		-		322,739		333,332
Equity		151,199		5,572		-		6,031		162,802
Derivatives		-		991		-		-		991
Total	$	277,529	$	6,563	$	-	$	358,745	$	642,837

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

Supplemental Financial Information - Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following represents the Company’s unaudited quarterly results for the years ended December 31, 2019 and 2018. These quarterly results were prepared in conformity with generally accepted accounting principles and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature.

	2019 Fiscal Quarter
	First			Second		Third		Fourth		Year
	(dollars in thousands)
Net revenue	$	626,002		$	628,150	$	588,018	$	720,523	$	2,562,693
Operating expenses		517,139			520,537		535,200		589,623		2,162,499
Operating income	$	108,863		$	107,613	$	52,818	$	130,900	$	400,194
Net income	$	92,875		$	90,337	$	43,385	$	106,999	$	333,596
Less - net income attributable to noncontrolling interests		(566	)		7,736		1,492		2,554		11,216
Net income attributable to Lazard Group	$	93,441		$	82,601	$	41,893	$	104,445	$	322,380

	2018 Fiscal Quarter
	First		Second		Third		Fourth		Year
	(dollars in thousands)
Net revenue	$	753,261	$	754,639	$	625,012	$	683,949	$	2,816,861
Operating expenses		566,309		562,825		490,280		538,164		2,157,578
Operating income	$	186,952	$	191,814	$	134,732	$	145,785	$	659,283
Net income	$	168,337	$	160,369	$	109,339	$	132,875	$	570,920
Less - net income attributable to noncontrolling interests		1,969		1,416		1,652		286		5,323
Net income attributable to Lazard Group	$	166,368	$	158,953	$	107,687	$	132,589	$	565,597

Segment Information - Schedule of Revenue from External Customers and Identifiable Assets, by Geographical Areas (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net Revenue	$ 720,523	$ 588,018	$ 628,150	$ 626,002	$ 683,949	$ 625,012	$ 754,639	$ 753,261	$ 2,562,693	$ 2,816,861	$ 2,639,597
Operating Income	130,900	$ 52,818	$ 107,613	$ 108,863	145,785	$ 134,732	$ 191,814	$ 186,952	400,194	659,283	633,753
Identifiable Assets	5,051,628				4,389,475				5,051,628	4,389,475	4,300,573
Americas [Member]
Segment Reporting Information [Line Items]
Net Revenue									1,519,983	1,606,245	1,553,356
Operating Income									249,488	412,628	404,351
Identifiable Assets	2,320,957				1,950,138				2,320,957	1,950,138	1,972,308
EMEA [Member]
Segment Reporting Information [Line Items]
Net Revenue									873,007	1,022,994	903,525
Operating Income									120,481	206,578	193,781
Identifiable Assets	2,437,804				2,150,597				2,437,804	2,150,597	2,039,385
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net Revenue									169,703	187,622	182,716
Operating Income									30,225	40,077	35,621
Identifiable Assets	$ 292,867				$ 288,740				$ 292,867	$ 288,740	$ 288,880

Members' Equity - Schedule of Share Repurchase Authorized by Board of Directors (Detail)	12 Months Ended
	Dec. 31, 2019 USD ($)
October, 2017 [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 200,000,000
Expiration	Dec. 31, 2019
April, 2018 [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2020
October, 2018 [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2020
February, 2019 [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2020
October, 2019 [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2021

Organization and Basis of Presentation - Additional Information (Detail) - Segment		12 Months Ended
	Feb. 04, 2019	Dec. 31, 2019	Dec. 31, 2018
Organization And Basis Of Presentation [Line Items]
Governing operating agreement, date	Feb. 04, 2019
Number of business segments		2
Lazard Group LLC [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held		100.00%	100.00%

Senior Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Senior Debt

Senior debt is comprised of the following as of December 31, 2019 and 2018:

							Outstanding as of
	Initial			Annual			December 31, 2019						December 31, 2018
	Principal Amount		Maturity Date	Interest Rate(b)			Principal		Unamortized Debt Costs		Carrying Value		Principal		Unamortized Debt Costs		Carrying Value
Lazard Group 2020 Senior Notes (a)	$	500,000	11/14/20		4.25	%	$	-	$	-	$	-	$	250,000	$	863	$	249,137
Lazard Group 2025 Senior Notes		400,000	2/13/25		3.75	%		400,000		2,416		397,584		400,000		2,888		397,112
Lazard Group 2027 Senior Notes (a)		300,000	3/1/27		3.625	%		300,000		2,822		297,178		300,000		3,215		296,785
Lazard Group 2028 Senior Notes (a)		500,000	9/19/28		4.50	%		500,000		7,814		492,186		500,000		8,774		491,226
Lazard Group 2029 Senior Notes (a)		500,000	3/11/29		4.375	%		500,000		7,386		492,614		-		-		-
Total							$	1,700,000	$	20,438	$	1,679,562	$	1,450,000	$	15,740	$	1,434,260

(a)

(b)	The effective interest rates of Lazard Group’s 3.75% senior notes due February 13, 2025 (the “2025 Notes”), Lazard Group’s 3.625% senior notes due March 1, 2027 (the “2027 Notes”), the 2028 Notes and the 2029 Notes are 3.87%, 3.76%, 4.68% and 4.54%, respectively.

Debt Maturities Relating to Senior Borrowings Outstanding

Debt maturities relating to senior borrowings outstanding at December 31, 2019 for each of the five years in the period ending December 31, 2024 and thereafter are set forth in the table below.

Year Ending December 31,
2020 - 2024	$	-
Thereafter		1,700,000
Total	$	1,700,000

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Total investments	$ 531,995	$ 575,148
Investments, at fair value	531,478	574,638
Securities sold, not yet purchased, at fair value (included in "other liabilities")	12,894	3,929
Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Total investments	517	510
Debt [Member]
Schedule of Investments [Line Items]
Total investments	100,000	202,874
Investments, at fair value	100,000	202,874
Equities [Member]
Schedule of Investments [Line Items]
Total investments	48,521	32,261
Investments, at fair value	48,521	32,261
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Total investments	16,581	17,752
Investments, at fair value	16,581	17,752
Debt Funds [Member]
Schedule of Investments [Line Items]
Total investments	113,579	90,320
Investments, at fair value	113,579	90,320
Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	218,435	175,088
Investments, at fair value	218,435	175,088
Private Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	34,362	56,343
Investments, at fair value	34,362	56,343
Funds Total [Member]
Schedule of Investments [Line Items]
Total investments	$ 382,957	$ 339,503

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 6,056	$ 8,338
Private Equity Funds [Member] \| Consolidated But Not Owned [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 11,155	$ 14,437

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2019 shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Dividend participation rights	862,609

Derivatives

12 Months Ended

Dec. 31, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives

8.	DERIVATIVES

The table below presents the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 16) on the accompanying consolidated statements of financial condition as of December 31, 2019 and 2018:

	December 31,
	2019		2018
Derivative Assets:
Forward foreign currency exchange rate contracts	$	1,395	$	1,543
Total return swaps and other (a)		-		10,424
	$	1,395	$	11,967
Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,720	$	939
Total return swaps and other (a)		8,527		1
LFI and other similar deferred compensation arrangements		226,026		188,022
	$	236,273	$	188,962

(a)

For total return swaps, amounts represent the netting of gross derivative assets and liabilities of $152 and $8,679 as of December 31, 2019, respectively, and $10,792 and $369 as of December 31, 2018, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other liabilities” and “other assets” as of December 31, 2019 and 2018, respectively.

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017, were as follows:

	Year Ended December 31,
	2019			2018		2017
Forward foreign currency exchange rate contracts	$	6,988		$	7,584	$	(9,144	)
LFI and other similar deferred compensation arrangements		(31,657	)		14,086		(23,526	)
Total return swaps and other		(14,294	)		8,813		(15,709	)
Total	$	(38,963	)	$	30,483	$	(48,379	)

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 350,029,000	$ 350,829,000	$ 362,760,000	$ 352,124,000
Goodwill impairment loss	0	0	0
Amortization of intangible assets	2,166,000	2,389,000	$ 1,584,000
Financial Advisory Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	285,488,000	286,288,000
Asset Management Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 64,541,000	$ 64,541,000

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]
Tax expense (benefit) on other changes in plan assets and benefit obligations recognized in AOCI	$ (7,247)	$ 1,589	$ (1,255)

Incentive Plans - Summary of LFI and Other Similar Deferred Compensation Arrangements (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Prepaid Compensation Asset, Beginning Balance	$ 76,362
Prepaid Compensation Asset, Ending Balance	74,597
Compensation Liability, Beginning Balance	188,962
Compensation Liability, Ending Balance	236,273
LFI and Other Similar Deferred Compensation Arrangements [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Prepaid Compensation Asset, Beginning Balance	76,362
Prepaid Compensation Asset, Granted	101,529
Prepaid Compensation Asset, Forfeited	(1,702)
Prepaid Compensation Asset, Amortization	(101,663)
Prepaid Compensation Asset, Other	71
Prepaid Compensation Asset, Ending Balance	74,597
Compensation Liability, Beginning Balance	188,022
Compensation Liability, Granted	101,529
Compensation Liability, Settled	(96,976)
Compensation Liability, Forfeited	(3,455)
Compensation Liability, Increase (decrease) in fair value of underlying investments	31,657
Compensation Liability, Adjustment for estimated forfeitures	5,340
Compensation Liability, Other	(91)
Compensation Liability, Ending Balance	$ 226,026

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal, current	$ 3,871	$ 1,569	$ 774
Foreign, current	57,220	91,073	62,666
State and local, current	3,934	5,058	2,038
Total current	65,025	97,700	65,478
Federal, deferred	49	667	1,045
Foreign, deferred	225	(10,227)	12,961
State and local, deferred	1,299	223	2,379
Total deferred	1,573	(9,337)	16,385
Total	$ 66,598	$ 88,363	$ 81,863

Consolidated VIEs - Summary of Consolidated VIE Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 1,164,135	$ 1,185,040	$ 1,470,296
Customers and other receivables	125,697	184,137
Investments	531,995	575,148
Other assets	256,435	258,413
Total Assets	5,051,628	4,389,475	$ 4,300,573
LIABILITIES
Deposits and other customer payables	1,246,200	1,154,208
Other liabilities	527,926	565,801
Total Liabilities	4,764,302	$ 3,806,723
Consolidated VIEs [Member]
ASSETS
Cash and cash equivalents	3,826
Customers and other receivables	102
Investments	97,474
Other assets	245
Total Assets	101,647
LIABILITIES
Deposits and other customer payables	62
Other liabilities	513
Total Liabilities	$ 575

Members' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program—During the year ended December 31, 2019 and since 2017, the Board of Directors of Lazard authorized the repurchase of Class A common stock as set forth in the table below.

Date	Repurchase Authorization		Expiration
October 2017	$	200,000	December 31, 2019
April 2018	$	300,000	December 31, 2020
October 2018	$	300,000	December 31, 2020
February 2019	$	300,000	December 31, 2020
October 2019	$	300,000	December 31, 2021

Schedule of Shares Repurchased Under the Share Repurchase Program

The Company expects that the share repurchase program will continue to be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”) and the Lazard Ltd 2018 Incentive Compensation Plan (the “2018 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from period to period due to a variety of factors. Purchases with respect to such program are set forth in the table below:

Years Ended December 31:	Number of Shares Purchased		Average Price Per Share
2017		6,956,097	$	44.10
2018		12,206,652	$	45.29
2019		13,674,439	$	36.18

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss), Net of Tax—The tables below reflect the balances of each component of AOCI at December 31, 2019, 2018 and 2017 and activity during the years then ended:

	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Group AOCI
Balance, January 1, 2019	$	(82,829	)	$	(145,831	)	$	(228,660	)	$	-	$	(228,660	)
Activity:
Other comprehensive income (loss) before reclassifications		8,460			(34,921	)		(26,461	)		-		(26,461	)
Adjustments for items reclassified to earnings, net of tax		-			4,717			4,717			-		4,717
Net other comprehensive income (loss)		8,460			(30,204	)		(21,744	)		-		(21,744	)
Balance, December 31, 2019	$	(74,369	)	$	(176,035	)	$	(250,404	)	$	-	$	(250,404	)

	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Group AOCI
Balance, January 1, 2018	$	(43,790	)	$	(151,466	)	$	(195,256	)	$	-	$	(195,256	)
Activity:
Other comprehensive loss before reclassifications		(39,039	)		(5,100	)		(44,139	)		-		(44,139	)
Adjustments for items reclassified to earnings, net of tax		-			10,735			10,735			-		10,735
Net other comprehensive income (loss)		(39,039	)		5,635			(33,404	)		-		(33,404	)
Balance, December 31, 2018	$	(82,829	)	$	(145,831	)	$	(228,660	)	$	-	$	(228,660	)

	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Group AOCI
Balance, January 1, 2017	$	(109,306	)	$	(161,471	)	$	(270,777	)	$	(2	)	$	(270,775	)
Activity:
Other comprehensive income before reclassifications		65,516			2,054			67,570			2			67,568
Adjustments for items reclassified to earnings, net of tax		-			7,951			7,951			-			7,951
Net other comprehensive income		65,516			10,005			75,521			2			75,519
Balance, December 31, 2017	$	(43,790	)	$	(151,466	)	$	(195,256	)	$	-		$	(195,256	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the years ended December 31, 2019, 2018 and 2017:

	Year Ended December 31,
	2019		2018		2017
Amortization relating to employee benefit plans (a)	$	5,884	$	13,070	$	10,171
Less - related income taxes		1,167		2,335		2,220
Total reclassifications, net of tax	$	4,717	$	10,735	$	7,951

(a)	Included in the computation of net periodic benefit cost (see Note 17). Such amounts are included in “operating expenses –other” on the consolidated statements of operations.

Net Income Attributable to Noncontrolling Interests

The tables below summarize net income attributable to noncontrolling interests for the years ended December 31, 2019, 2018 and 2017 and noncontrolling interests as of December 31, 2019 and 2018, in the Company’s consolidated financial statements:

	Net Income Attributable to Noncontrolling Interests Year Ended December 31,
	2019		2018		2017
Edgewater	$	9,850	$	5,320	$	6,259
Consolidated VIEs		1,363		-		-
Other		3		3		4
Total	$	11,216	$	5,323	$	6,263

	Noncontrolling Interests as of December 31,
	2019		2018
Edgewater	$	50,151	$	52,695
Consolidated VIEs		18,241		-
Other		14		12
Total	$	68,406	$	52,707

Other Assets and Other Liabilities - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Current income and other tax receivables	$ 58,355	$ 35,269
Prepaid compensation (see Note 16)	74,597	76,362
Other advances and prepayments	43,042	66,248
Other	80,441	80,534
Total	$ 256,435	$ 258,413

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Interest and penalties	$ 18,161	$ 15,830	$ 15,136	$ 15,392

Members' Equity - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Oct. 31, 2019
Schedule Of Stockholders Equity [Line Items]
Common stock held by subsidiaries, shares	7,675,688	16,737,000
Aggregate value of all shares repurchased	$ 494,687	$ 552,872	$ 310,872
Shares repurchased under the share repurchase program	13,674,439	12,206,652	6,956,097
Share repurchase remaining authorization	$ 400,825
April and October, 2018 and February 2019 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining authorization	$ 100,825
Share repurchase authorization expiration date	Dec. 31, 2020
October, 2019 [Member]
Schedule Of Stockholders Equity [Line Items]
Share repurchase remaining authorization	$ 300,000
Share repurchase authorization expiration date	Dec. 31, 2021
Class A Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Common stock held by subsidiaries, shares	7,675,688	16,737,000
Lazard Ltd Subsidiaries [Member]
Schedule Of Stockholders Equity [Line Items]
Distribution to members	$ 263,935	$ 448,912	$ 346,072
Lazard Ltd Subsidiaries [Member] \| Class A Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Shares distribution to members				17,000,000
Aggregate value of all shares repurchased			$ 4,130
Shares repurchased under the share repurchase program	0	0	91,333
Executive Officers [Member] \| Class A Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Aggregate value of all shares repurchased	$ 14,600	$ 17,700	$ 14,700

Recent Accounting Developments

12 Months Ended

Dec. 31, 2019

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Recent Accounting Developments

3.	RECENT ACCOUNTING DEVELOPMENTS

Leases—In February 2016, the Financial Accounting Standards Board (the “FASB”) issued updated guidance for leases. The guidance requires a lessee to (i) recognize a right-of-use asset and a lease liability that is initially measured at the present value of the lease payments, in the consolidated statement of financial condition, (ii) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a straight-line basis and (iii) classify operating lease related cash payments within operating activities and finance lease related principal cash payments within financing activities (with interest included in interest paid) in the consolidated statement of cash flows.

The Company adopted the new guidance on January 1, 2019 using the optional transition method, which allows such guidance to be applied initially at the adoption date with a cumulative-effect adjustment and without restating comparative periods. Lazard elected the package of practical expedients, which allows the carry-forward of the prior conclusions on lease definition, classification and initial direct costs related to the existing leases as of the adoption date.

Substantially all of the Company’s existing lease arrangements are operating leases. The adoption of the new guidance on January 1, 2019 resulted in a recognition of $501,000 of operating lease right-of-use assets (“ROU assets”) and $581,000 of operating lease liabilities in the Company’s consolidated statements of financial condition. The operating lease liabilities at January 1, 2019 reflect any remaining lease payments discounted using an incremental borrowing rate (on a collateralized basis) based on the remaining lease term (the “Discount”), as an implicit rate was not readily determinable for any of the Company’s existing operating leases. The operating lease

ROU assets are lower than the operating lease liabilities primarily because lease incentives reduce the ROU assets (see Note 10).

Improvements to Nonemployee Share-Based Payment Accounting—In June 2018, the FASB issued updated guidance to simplify the accounting for nonemployee share-based payment transactions. The new guidance generally requires equity-classified nonemployee share-based payment awards to be measured at the grant date, which is the date at which a grantor and grantee reach a mutual understanding of the key terms and conditions of a share-based payment award. This update generally aligns the accounting for equity-classified share-based payment awards to nonemployees with the measurement date required for employees. The Company adopted the new guidance on January 1, 2019 and its application did not have a material impact on the Company’s financial statements.

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income—In February 2018, the FASB issued updated guidance on the tax effects of items in “accumulated other comprehensive income (loss), net of tax” (“AOCI”). Specifically, the new guidance will permit, but not require, a reclassification from AOCI to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate under the Tax Cuts and Jobs Act of 2017. The amount of the reclassification would be the difference between the historical corporate income tax rate and the newly enacted 21% corporate income tax rate. The Company adopted the new guidance on January 1, 2019 without reclassifying any amounts from AOCI to retained earnings. The application of the guidance did not have a material impact on the Company’s financial statements.

Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments—In June 2016, the FASB issued new guidance regarding the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology in the current guidance with a methodology that reflects current expected credit losses (“CECL”) and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The new guidance is effective for annual and interim periods beginning after December 15, 2019. The new guidance will be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings at the beginning of the year of adoption.

The Company will adopt the new credit loss guidance upon its effective date of January 1, 2020. The Company’s adoption efforts include the identification of financial assets within the scope of the guidance, the evaluation of the current credit loss provisioning process, and the implementation of the CECL model. The impact of the new guidance primarily relates to the Company’s fee receivables. For customer loans within customer receivables, the Company has elected to apply the practical expedient on financial assets with collateral maintenance provisions, which results in no expected credit losses given that these loans are required to be maintained with collateral having a fair value in excess of the carrying amount of the loans.

To comply with the CECL model, the Company has analyzed historical bad debt charge-off data to determine the average charge-off rate used to measure the expected credit loss for fee receivables. The Company has determined that long-term forecasted information is not relevant to its fee receivables which are generally short-term. The Company will update the average charge-off rate periodically and maintain a quarterly reserve review process to consider current factors that would require an adjustment to the credit loss estimate. In addition, the Company will periodically perform a qualitative assessment to monitor risks associated with current and forecasted conditions that may require an adjustment to the expected credit loss allowance. The Company currently does not expect a material impact to its financial statements upon adoption of the new credit loss guidance.

Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment—In January 2017, the FASB issued updated guidance which eliminated Step 2 from the goodwill impairment test. Step 2 is the process of measuring a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires entities to measure a goodwill impairment loss as the amount by which a reporting unit’s carrying value exceeds its fair value, limited to the carrying amount of goodwill. The FASB also eliminated the requirements for entities that have reporting units with zero or negative carrying amounts to perform a qualitative assessment for the goodwill impairment test. Instead, those entities would be

required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The new guidance is effective for interim or annual goodwill impairment tests performed in fiscal years beginning after December 15, 2019. The Company will adopt the new guidance as of January 1, 2020 and prospectively apply the new model for its goodwill impairment test. There will be no impact to the Company’s financial statements at the adoption date.

Intangibles—Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract—In August 2018, the FASB issued updated guidance on the accounting for implementation costs incurred in a cloud computing arrangement. The new guidance requires the capitalization of the implementation costs incurred in a cloud computing arrangement to be aligned with the requirements for capitalizing costs incurred to develop or obtain internal-use software. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2019 and allows entities to either retrospectively or prospectively apply the amendments at adoption. The Company will adopt the new guidance as of January 1, 2020 and has elected to apply the new guidance prospectively to implementation costs incurred after the adoption date. There will be no impact to the Company’s financial statements at the adoption date.

Related Party Guidance for Variable Interest Entities—In October 2018, the FASB issued updated guidance that requires consideration of indirect interest held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interests. The new guidance is effective for fiscal years and interim periods beginning after December 15, 2019. The amendments are required to be applied retrospectively with a cumulative-effect adjustment. The Company will adopt the new guidance as of January 1, 2020 and does not expect a material impact to its financial statements at the adoption date.

Fair Value Measurement: Changes to the Disclosure Requirements for Fair Value Measurement—In August 2018, the FASB issued updated guidance which modifies the disclosure requirements on fair value measurement. The updated guidance eliminates or modifies various required disclosures under the current guidance and includes additional requirements. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2019. The additional disclosures related to level 3 fair value measurements are to be applied prospectively and other amendments are to be applied retrospectively. The Company will adopt the new guidance on January 1, 2020 and update its fair value measurement disclosures in accordance with the new guidance. The Company currently does not expect a material impact to its financial statements at the adoption date.

Compensation–Retirement Benefits: Changes to the Disclosure Requirements for Defined Benefit Plans—In August 2018, the FASB issued updated guidance which modifies the disclosure requirements regarding defined benefit plans and other postretirement plans. The updated guidance eliminates or clarifies certain currently required disclosures and includes additional requirements. The new guidance is effective for years ending after December 15, 2020 with retrospective application. The Company will adopt the new guidance on January 1, 2020 and update its related disclosures in accordance with the new guidance. The Company currently does not expect a material impact to its financial statements at the adoption date.

Simplifying the Accounting for Income Taxes—In December 2019, the FASB issued new guidance to simplify the accounting for income taxes. The amendments include the removal of certain exceptions and various improvements. These improvements are related to the accounting for franchise tax based on income, evaluation of step up in tax basis of goodwill, allocation of consolidated tax expense to standalone legal entities, recognition of enacted change in tax laws or rates, and other minor changes. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the new guidance.

Other Assets and Other Liabilities - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 178,019	$ 165,691
Current income taxes and other taxes	133,358	128,372
Employee benefit-related liabilities	51,370	51,051
Deferred lease liabilities		84,352
Unclaimed funds at LFB	17,405	17,746
Deferred revenue	97,964	80,995
Contingent consideration liability		1,309
Securities sold, not yet purchased	12,894	3,929
Other	36,916	32,356
Total	$ 527,926	$ 565,801

Leases - Schedule of Prior Adoption For Future Minimum Rental Payment for Operating Leases (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
Minimum Rental Commitments Operating - 2019	$ 86,664
Minimum Rental Commitments Operating - 2020	89,260
Minimum Rental Commitments Operating - 2021	83,517
Minimum Rental Commitments Operating - 2022	70,611
Minimum Rental Commitments Operating - 2023	59,973
Minimum Rental Commitments Operating - Thereafter	488,612
Total minimum rental commitments	878,637
Less - sublease proceeds	26,941
Net rental commitments	$ 851,696

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

11.	GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at December 31, 2019 and 2018 are presented below:

	December 31,
	2019		2018
Goodwill	$	350,029	$	350,829
Other intangible assets (net of accumulated amortization)		1,768		3,634
	$	351,797	$	354,463

At December 31, 2019 and 2018, goodwill of $285,488 and $286,288, respectively, was attributable to the Company’s Financial Advisory segment and, at each such respective date, $64,541 of goodwill was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the years ended December 31, 2019, 2018 and 2017 are as follows:

	Year Ended December 31,
	2019			2018			2017
Balance, January 1	$	350,829		$	362,760		$	352,124
Foreign currency translation adjustments		(800	)		(11,931	)		10,636
Balance, December 31	$	350,029		$	350,829		$	362,760

All changes in the carrying amount of goodwill for the years ended December 31, 2019, 2018 and 2017 are attributable to the Company’s Financial Advisory segment.

The Company evaluates goodwill for impairment annually or more frequently if circumstances indicate that impairment may have occurred. Pursuant to the Company’s goodwill impairment review for the years ended December 31, 2019, 2018 and 2017, the Company determined that no impairment existed.

The gross cost and accumulated amortization of other intangible assets as of December 31, 2019 and 2018, by major intangible asset category, are as follows:

	December 31, 2019						December 31, 2018
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/incentive fees	$	33,040	$	31,542	$	1,498	$	33,040	$	30,043	$	2,997
Management fees, customer relationships and non-compete agreements		34,485		34,215		270		34,185		33,548		637
	$	67,525	$	65,757	$	1,768	$	67,225	$	63,591	$	3,634

Amortization expense of intangible assets, included in “amortization and other acquisition-related (benefits) costs” in the consolidated statements of operations, for the years ended December 31, 2019, 2018 and 2017 was $2,166, $2,389 and $1,584, respectively. Estimated future amortization expense is as follows:

Year Ending December 31,	Amortization Expense
2020	$	1,558
2021		60
2022		60
2023		60
2024		30
Total amortization expense	$	1,768

Schedule I - Condensed Statements of Cash Flows (Parent Company Only) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 106,999	$ 43,385	$ 90,337	$ 92,875	$ 132,875	$ 109,339	$ 160,369	$ 168,337	$ 333,596	$ 570,920	$ 551,890
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred tax provision (benefit)									1,573	(9,337)	16,385
Loss on extinguishment of debt									6,505	6,523
Amortization of deferred expenses and share-based incentive compensation									364,447	369,888	358,039
Depreciation and amortization of property									35,260	33,778	31,491
Noncash lease expense									59,929
Amortization and other acquisition-related (benefits) costs									857	(957)	2,876
Changes in operating assets and liabilities:
Net cash provided by operating activities									657,634	707,126	1,049,399
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property									(42,753)	(49,390)	(26,234)
Net cash used in investing activities									(42,244)	(46,006)	(25,484)
Proceeds from:
Issuance of senior debt, net of expenses									492,032	490,970
Other financing activities									925	25
Payments for:
Senior debt									(255,746)	(255,543)
Settlement of vested share-based incentive compensation									(99,960)	(110,361)	(67,899)
Purchase of Class A common stock									(494,687)	(552,872)	(310,872)
Other financing activities									(7,592)	(6,407)	(18,381)
Net cash used in financing activities									(429,361)	(782,237)	(326,472)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH									157,713	(210,878)	861,128
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1				2,230,388				2,441,266	2,230,388	2,441,266	1,580,138
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— December 31	2,388,101				2,230,388				2,388,101	2,230,388	2,441,266
Parent Company [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income									322,380	565,597	545,627
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries									(500,085)	(746,962)	(710,143)
Deferred tax provision (benefit)									709	84	(88)
Loss on extinguishment of debt									6,505	6,523
Amortization of deferred expenses and share-based incentive compensation									337,615	337,872	335,909
Depreciation and amortization of property									11,626	12,200	10,451
Noncash lease expense									20,289
Amortization and other acquisition-related (benefits) costs									(1,309)	(2,568)	2,876
Distributions received from subsidiaries									549,211	676,061	724,839
Changes in operating assets and liabilities:
Due to/from subsidiaries									(86,074)	117,393	(19,729)
Other investments									73,118	(205,201)	(1,913)
Other operating assets and liabilities									(90,389)	(64,787)	(53,541)
Net cash provided by operating activities									643,596	696,212	834,288
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property									(15,553)	(23,904)	(8,928)
Capital contribution to subsidiaries									(20,953)	(4,914)	(1,996)
Net cash used in investing activities									(36,506)	(28,818)	(10,924)
Proceeds from:
Issuance of senior debt, net of expenses									492,032	490,970
Other financing activities									925	25
Payments for:
Senior debt									(255,746)	(255,543)
Distributions of members									(263,935)	(448,912)	(346,072)
Settlement of vested share-based incentive compensation									(99,960)	(110,361)	(67,899)
Purchase of Class A common stock									(494,687)	(552,872)	(310,872)
Other financing activities									(6,388)	(6,339)	(6,151)
Net cash used in financing activities									(627,759)	(883,032)	(730,994)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH									(20,669)	(215,638)	92,370
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1				$ 157,398				$ 373,036	157,398	373,036	280,666
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— December 31	$ 136,729				$ 157,398				$ 136,729	$ 157,398	$ 373,036

Senior Debt - Additional Information (Detail) - USD ($)	Sep. 25, 2015	Dec. 31, 2019	Dec. 31, 2018
Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		$ 168,000,000
LFB [Member] \| Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		17,000,000
Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Senior revolving credit facility	$ 150,000,000
Duration of senior revolving credit facility, in years	5 years
Expiration of credit facility	2020-09
Outstanding credit facility		$ 0	$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Revenue Recognition

12 Months Ended

Dec. 31, 2019

Revenue Recognition [Abstract]

Revenue Recognition

4.	REVENUE RECOGNITION

Investment Banking and Other Advisory Fees—Fees for Financial Advisory services are recorded when: (i) a contract with a client has been identified, (ii) the performance obligations in the contract have been identified, (iii) the fee or other transaction price has been determined, (iv) the fee or other transaction price has been allocated to each performance obligation in the contract, and (v) the Company has satisfied the applicable performance obligation. The expenses that are directly related to such transactions are recorded as incurred and presented within operating expenses when the Company is primarily responsible for fulfilling the promise of the arrangement. Revenues associated with the reimbursement of such expenses are recorded when the Company is contractually entitled to reimbursement and presented within investment banking and other advisory fees.

Asset Management Fees—Fees for Asset Management services are primarily comprised of management fees and incentive fees. Management fees are derived from fees for investment management and other services provided to clients. Revenue is recorded in accordance with the same five criteria as Financial Advisory fees, which generally results in management fees being recorded on a daily, monthly or quarterly basis, primarily based on a percentage of client assets managed. Fees vary with the type of assets managed, with higher fees earned on equity assets, alternative investment (such as hedge fund) and private equity funds, and lower fees earned on fixed income and money market products. Expenses that are directly related to the sale or distribution of fund interests are recorded as incurred and presented within operating expenses when the Company is primarily responsible for fulfilling the promise of the arrangement. Revenues associated with the reimbursement of such expenses are recorded when the Company is contractually entitled to reimbursement and presented within asset management fees.

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

For hedge funds, incentive fees are calculated based on a specific percentage of a fund’s net appreciation, in some cases in excess of established benchmarks or thresholds. The Company records incentive fees on traditional products and hedge funds when a significant reversal in the amount of the cumulative revenue to be recognized is not probable, which is typically at the end of the relevant performance measurement period. The incentive fee measurement period is generally an annual period (unless an account is terminated during the year). The incentive fees received at the end of the measurement period are not subject to reversal or payback. Incentive fees on hedge funds generally are subject to loss carryforward provisions in which losses incurred by the hedge funds in any year are applied against certain gains realized by the hedge funds in future periods before any incentive fees can be earned.

For private equity funds, incentive fees may be earned in the form of a “carried interest” if profits arising from realized investments exceed a specified threshold. Typically, such carried interest is ultimately calculated on a whole-fund basis and, therefore, clawback of carried interests during the life of the fund can occur. As a result, the Company records incentive fees earned on our private equity funds when a significant reversal in the amount of the cumulative revenue to be recognized is not probable, which is typically at the end of the relevant performance period.

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

The Company disaggregates revenue based on its business segment results and believes that the following information provides a reasonable representation of how performance obligations relate to the nature, amount, timing and uncertainty of revenue and cash flows:

	Year Ended December 31,
	2019		2018
Net Revenue:
Financial Advisory (a)	$	1,352,168	$	1,548,918

Asset Management:
Management Fees and Other (b)	$	1,216,115	$	1,311,286
Incentive Fees (c)		21,275		20,515
Total Asset Management	$	1,237,390	$	1,331,801

(a)

Financial Advisory is comprised of M&A Advisory, Capital Advisory, Capital Raising, Restructuring, Shareholder Advisory, Sovereign Advisory, and other strategic advisory work for clients. The benefits of these advisory services are generally transferred to the Company’s clients over time, and consideration for these advisory services typically includes transaction completion, transaction announcement and retainer fees. Retainer fees are generally fixed and recognized over the period in which the advisory services are performed. However, transaction announcement and transaction completion fees are variable and subject to constraints, and they are typically not recognized until there is an announcement date or a completion date, respectively, due to the uncertainty associated with those events. Therefore, in any given period, advisory fees recognized for certain transactions will relate to services performed in prior periods. The advisory fees that may be unrecognized as of the end of a reporting period, primarily comprised of fees associated with transaction announcements and transaction completions, generally remain unrecognized due to the uncertainty associated with those events.

(b)

Management fees and other is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services generally includes management fees, which are based on assets under management and recognized over the period in which the management services are performed. The selling or distribution of fund interests is a separate performance obligation within management fees and other, and the benefits of such services are transferred to the Company’s clients at the point in time that such fund interests are sold or distributed.

(c)

Incentive fees is primarily comprised of management services. The benefits of these management services are transferred to the Company’s clients over time. Consideration for these management services is generally variable and includes performance or incentive fees. The fees allocated to these management services that are unrecognized as of the end of the reporting period are generally amounts that are subject to constraints due to the uncertainty associated with performance targets and clawbacks.

In addition to the above, contracts with clients include trade-based commission income, which is recognized at the point in time of execution and presented within other revenue. Such income may be earned by providing trade facilitation, execution, clearance and settlement, custody, and trade administration services to clients.

With regard to the disclosure requirement for remaining performance obligations, the Company elected the practical expedients permitted in the guidance to (i) exclude contracts with a duration of one year or less; and (ii) exclude variable consideration, such as transaction completion and transaction announcement fees, that is allocated entirely to unsatisfied performance obligations. Excluded variable consideration typically relates to contracts with a duration of one year or less, and is generally constrained due to uncertainties. Therefore, when applying the practical

expedients, amounts related to remaining performance obligations are not material to the Company’s financial statements.

Property - Components of Property (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 585,751	$ 551,161
Less - Accumulated depreciation and amortization	366,880	339,448
Property	218,871	211,713
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 142,298	145,034
Property, plant and equipment, useful life	33 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 196,277	187,930
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 214,700	204,057
Furniture and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 32,476	$ 14,140

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Equity funds that are invested in funds managed by the company	$ 99,671	$ 87,129
Contributions to employer sponsored defined contribution plans	$ 16,905	$ 15,765	$ 15,064
Non-U.S. Pension Plans [Member] \| Level 1 [Member] \| Equities And Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	32.00%	29.00%
Non-U.S. Pension Plans [Member] \| Level 1 [Member] \| NAV And Alternative Investment Funds [Member] \| Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	6.00%	6.00%
Non-U.S. Pension Plans [Member] \| Level 1 and Level 2 [Member] \| NAV [Member] \| Debt and Debt Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	62.00%	65.00%
Unites States [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plans' assets in equity funds	60.00%	49.00%
Unites States [Member] \| Level 1 [Member] \| NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plans' assets in debt funds	39.00%	51.00%
Unites States [Member] \| Level 1 [Member] \| NAV [Member] \| Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets invested	1.00%
Scenario, Forecast [Member] \| Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contribution related to the pension plans				$ 5,000
Scenario, Forecast [Member] \| Unites States [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contribution related to the pension plans				$ 1,000

Consolidated VIEs (Tables)

12 Months Ended

Dec. 31, 2019

Variable Interest Entity Consolidated Carrying Amount Assets And Liabilities [Abstract]

Summary of Consolidated VIE Assets and Liabilities

The Company’s consolidated VIE assets and liabilities as reflected in the consolidated statements of financial condition consist of the following at December 31, 2019:

ASSETS
Cash and cash equivalents	$	3,826
Customers and other receivables		102
Investments (a)		97,474
Other assets		245
Total Assets	$	101,647

LIABILITIES
Deposits and other customer payables	$	62
Other liabilities		513
Total Liabilities	$	575

(a)	Includes $83,036 of LFI held by Lazard Group which is eliminated in the consolidated statements of financial condition.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Investments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule Of Investments [Abstract]

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at December 31, 2019 and 2018:

	December 31,
	2019		2018
Interest-bearing deposits	$	517	$	510
Debt		100,000		202,874
Equities		48,521		32,261
Funds:
Alternative investments (a)		16,581		17,752
Debt (a)		113,579		90,320
Equity (a)		218,435		175,088
Private equity		34,362		56,343
		382,957		339,503
Total investments		531,995		575,148
Less:
Interest-bearing deposits		517		510
Investments, at fair value	$	531,478	$	574,638
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	12,894	$	3,929

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $9,881, $78,360 and $170,897, respectively, at December 31, 2019 and $9,741, $60,081 and $132,038, respectively, at December 31, 2018, held in order to satisfy the Company’s liability upon vesting of previously granted LFI and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 8 and 16).

Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses

During the years ended December 31, 2019, 2018 and 2017, the Company reported in “revenue-other” on its consolidated statements of operations net unrealized investment gains and losses pertaining to “equity securities and trading debt securities” still held as of the reporting date as follows:

	Year Ended December 31,
	2019		2018			2017
Net unrealized investment gains (losses)	$	36,610	$	(43,009	)	$	27,192

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Detail)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
RSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance \| shares	11,362,306
Units, Granted \| shares	5,894,764
Units, Forfeited \| shares	(962,038)
Units, Settled \| shares	(5,907,466)
Units, Ending Balance \| shares	10,387,566
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 43.78
Weighted Average Grant Date Fair Value, Granted \| $ / shares	38.65
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	43.43
Weighted Average Grant Date Fair Value, Settled \| $ / shares	37.17
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 44.66
DSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance \| shares	323,546
Units, Granted \| shares	72,427
Units, Ending Balance \| shares	395,973
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 39.27
Weighted Average Grant Date Fair Value, Granted \| $ / shares	32.38
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 38.01

Supplemental Financial Information - Quarterly Results

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Supplemental Financial Information - Quarterly Results

SUPPLEMENTAL FINANCIAL INFORMATION

QUARTERLY RESULTS (UNAUDITED)

	2019 Fiscal Quarter
	First			Second		Third		Fourth		Year
	(dollars in thousands)
Net revenue	$	626,002		$	628,150	$	588,018	$	720,523	$	2,562,693
Operating expenses		517,139			520,537		535,200		589,623		2,162,499
Operating income	$	108,863		$	107,613	$	52,818	$	130,900	$	400,194
Net income	$	92,875		$	90,337	$	43,385	$	106,999	$	333,596
Less - net income attributable to noncontrolling interests		(566	)		7,736		1,492		2,554		11,216
Net income attributable to Lazard Group	$	93,441		$	82,601	$	41,893	$	104,445	$	322,380

	2018 Fiscal Quarter
	First		Second		Third		Fourth		Year
	(dollars in thousands)
Net revenue	$	753,261	$	754,639	$	625,012	$	683,949	$	2,816,861
Operating expenses		566,309		562,825		490,280		538,164		2,157,578
Operating income	$	186,952	$	191,814	$	134,732	$	145,785	$	659,283
Net income	$	168,337	$	160,369	$	109,339	$	132,875	$	570,920
Less - net income attributable to noncontrolling interests		1,969		1,416		1,652		286		5,323
Net income attributable to Lazard Group	$	166,368	$	158,953	$	107,687	$	132,589	$	565,597

Incentive Plans - Summary of Activity Related to Shares of Restricted Class A Common Stock (Detail) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance \| shares	1,541,058
Units, Granted \| shares	1,039,736
Units, Forfeited \| shares	(231,591)
Units, Settled \| shares	(1,309,897)
Units, Ending Balance \| shares	1,039,306
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 43.16
Weighted Average Grant Date Fair Value, Granted \| $ / shares	35.32
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	40.57
Weighted Average Grant Date Fair Value, Settled \| $ / shares	38.49
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 41.79

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 350,829	$ 362,760	$ 352,124
Foreign currency translation adjustments	(800)	(11,931)	10,636
Ending Balance	$ 350,029	$ 350,829	$ 362,760

Schedule I - Condensed Statements of Operations (Parent Company Only) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUE
Interest income									$ 15,160	$ 13,151	$ 7,201
Total revenue									2,644,682	2,878,914	2,696,851
Interest expense									81,989	62,053	57,254
Net revenue	$ 720,523	$ 588,018	$ 628,150	$ 626,002	$ 683,949	$ 625,012	$ 754,639	$ 753,261	2,562,693	2,816,861	2,639,597
OPERATING EXPENSES
Compensation and benefits									1,553,875	1,508,813	1,507,332
Professional services									69,198	59,124	45,191
Amortization and other acquisition-related (benefits) costs									857	(957)	2,876
Other									43,735	89,281	44,080
Total operating expenses	589,623	535,200	520,537	517,139	538,164	490,280	562,825	566,309	2,162,499	2,157,578	2,005,844
OPERATING INCOME	130,900	52,818	107,613	108,863	145,785	134,732	191,814	186,952	400,194	659,283	633,753
Provision for income taxes									66,598	88,363	81,863
NET INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	$ 104,445	$ 41,893	$ 82,601	$ 93,441	$ 132,589	$ 107,687	$ 158,953	$ 166,368	322,380	565,597	545,627
Other [Member]
REVENUE
Revenue									99,117	49,858	109,429
Parent Company [Member]
REVENUE
Equity in earnings of subsidiaries									500,085	746,962	710,143
Interest income									6,054	5,226	1,891
Total revenue									535,911	749,491	719,885
Interest expense									75,780	57,546	52,122
Net revenue									460,131	691,945	667,763
OPERATING EXPENSES
Compensation and benefits									109,449	94,471	103,311
Professional services									8,426	6,423	7,060
Amortization and other acquisition-related (benefits) costs									(1,309)	(2,568)	2,876
Other									20,008	26,290	7,903
Total operating expenses									136,574	124,616	121,150
OPERATING INCOME									323,557	567,329	546,613
Provision for income taxes									1,177	1,732	986
NET INCOME ATTRIBUTABLE TO LAZARD GROUP LLC									322,380	565,597	545,627
Parent Company [Member] \| Other [Member]
REVENUE
Revenue									$ 29,772	$ (2,697)	$ 7,851

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based incentive awards:
Share-based incentive awards	$ 252,112	$ 266,436	$ 271,961
RSUs [Member]
Share-based incentive awards:
Share-based incentive awards	168,338	193,924	190,821
PRSUs [Member]
Share-based incentive awards:
Share-based incentive awards	8,742	34,114	40,767
Restricted Stock [Member]
Share-based incentive awards:
Share-based incentive awards	29,322	37,261	39,369
Profits Interest Participation Rights [Member]
Share-based incentive awards:
Share-based incentive awards	44,537
DSUs [Member]
Share-based incentive awards:
Share-based incentive awards	$ 1,173	$ 1,137	$ 1,004

Members' Equity - Net Income Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minority Interest [Line Items]
Net Income Attributable to Noncontrolling Interests	$ 2,554	$ 1,492	$ 7,736	$ (566)	$ 286	$ 1,652	$ 1,416	$ 1,969	$ 11,216	$ 5,323	$ 6,263
Noncontrolling Interests	68,406				52,707				68,406	52,707
Edgewater [Member]
Minority Interest [Line Items]
Net Income Attributable to Noncontrolling Interests									9,850	5,320	6,259
Noncontrolling Interests	50,151				52,695				50,151	52,695
Other [Member]
Minority Interest [Line Items]
Net Income Attributable to Noncontrolling Interests									3	3	$ 4
Noncontrolling Interests	14				$ 12				14	$ 12
Consolidated VIEs [Member]
Minority Interest [Line Items]
Net Income Attributable to Noncontrolling Interests									1,363
Noncontrolling Interests	$ 18,241								$ 18,241

Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition

	December 31,
	2019		2018
Derivative Assets:
Forward foreign currency exchange rate contracts	$	1,395	$	1,543
Total return swaps and other (a)		-		10,424
	$	1,395	$	11,967
Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,720	$	939
Total return swaps and other (a)		8,527		1
LFI and other similar deferred compensation arrangements		226,026		188,022
	$	236,273	$	188,962

(a)

Net Gains and (Losses) With Respect To Derivative Instruments (Including Derivatives Not Designed As Hedging Instruments)

	Year Ended December 31,
	2019			2018		2017
Forward foreign currency exchange rate contracts	$	6,988		$	7,584	$	(9,144	)
LFI and other similar deferred compensation arrangements		(31,657	)		14,086		(23,526	)
Total return swaps and other		(14,294	)		8,813		(15,709	)
Total	$	(38,963	)	$	30,483	$	(48,379	)

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 29, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
No Trading Symbol Flag	true
Entity Registrant Name	LAZARD GROUP LLC
Entity Central Index Key	0001326141
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		0
Document Annual Report	true
Document Transition Report	false
Entity File Number	333-126751
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0278097
Entity Address, Address Line One	30 Rockefeller Plaza
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	10112
Entity Address, State or Province	NY
Local Phone Number	632-6000
City Area Code	212
Entity Public Float			$ 0
Subsidiaries of Lazard Ltd [Member]
Document Information [Line Items]
Managing Membership Interests Outstanding		2

Regulatory Authorities

12 Months Ended

Dec. 31, 2019

Regulatory Capital Requirements [Abstract]

Regulatory Authorities

21.	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 $5, whichever is greater. In addition, the ratio of aggregate indebtedness (as defined) to net capital may not exceed 15:1. At December 31, 2019, LFNY’s regulatory net capital was $134,374, which exceeded the minimum requirement by $127,427. LFNY’s aggregate indebtedness to net capital ratio was 0.78:1 as of December 31, 2019.

Certain U.K. subsidiaries of the Company, including LCL, Lazard Fund Managers Limited and Lazard Asset Management Limited (collectively, the “U.K. Subsidiaries”) are regulated by the Financial Conduct Authority. At December 31, 2019, the aggregate regulatory net capital of the U.K. Subsidiaries was $175,890, which exceeded the minimum requirement by $158,700.

CFLF, under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”) for its banking activities conducted through its subsidiary, LFB. LFB, as a registered bank, is engaged primarily in commercial and private banking services for clients and funds managed by LFG (asset management) and other clients, and asset-liability management. The investment services activities of the Paris group, exercised through LFB and other subsidiaries of CFLF, primarily LFG, also are subject to regulation and supervision by the Autorité des Marchés Financiers. At December 31, 2019, the consolidated regulatory net capital of CFLF was $127,935, which exceeded the minimum requirement set for regulatory capital levels by $69,150. In addition, pursuant to the consolidated supervision rules in the European Union, LFB, in particular, as a French credit institution, is required to be supervised by a regulatory body, either in the U.S. or in the European Union. During the third quarter of 2013, the Company and the ACPR agreed on terms for the consolidated supervision of LFB and certain other non-Financial Advisory European subsidiaries of the Company (referred to herein, on a combined basis, as the “combined European regulated group”) under such rules. Under this supervision, the combined European regulated group is required to comply with minimum requirements for regulatory net capital to be reported on a quarterly basis and satisfy periodic financial and other reporting obligations. At December 31, 2019, the regulatory net capital of the combined European regulated group was $182,054, which exceeded the minimum requirement set for regulatory capital levels by $75,566. Additionally, the combined European regulated group, together with our European Financial Advisory entities, is required to perform an annual risk assessment and provide certain other information on a periodic basis, including financial reports and information relating to financial performance, balance sheet data and capital structure.

Certain other U.S. and non-U.S. subsidiaries are subject to various capital adequacy requirements promulgated by various regulatory and exchange authorities in the countries in which they operate. At December 31, 2019, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $153,707, which exceeded the minimum required capital by $124,392.

At December 31, 2019, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

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

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

10.

LEASES

The Company adopted the new lease accounting guidance as of January 1, 2019, which resulted in recognition of ROU assets and lease liabilities related to operating leases on the consolidated statements of financial condition. The Company determines if an arrangement is, or contains, a lease at its inception and reevaluates the arrangement if the terms are modified. Operating lease ROU assets represent the right to use an underlying asset for the lease term and operating lease liabilities reflect the obligation to make lease payments arising from the lease. At any given time during the lease term, the operating lease liability represents the present value of the remaining lease payments and the operating lease ROU asset is measured at the amount of the lease liability, adjusted for rent prepayments, unamortized initial direct costs and the remaining balance of lease incentives received. Both the operating lease ROU asset and the operating lease liability are reduced to zero at the end of the lease.

The Company leases office space and equipment under non-cancelable lease agreements, which expire on various dates through 2033. Substantially all of these arrangements are operating leases relating to office space. Certain leases have renewal options that can be exercised at the discretion of the Company. The Company only includes renewal options in the lease term when it is reasonably certain to exercise the option. The Company does not record leases with a lease term of 12 months or less on the consolidated statements of financial condition; lease expense for these leases is recognized over the lease term on a straight-line basis.

For leases commencing on January 1, 2019 or thereafter that are recognized on the consolidated statements of financial condition, the Company applies its estimated Discount. The Company bases this Discount on the information available at the lease commencement date. The Company determines its Discount with consideration of the Company’s public debt issuances as well as publicly available data for instruments with similar characteristics.

For leases commencing on January 1, 2019 or thereafter that relate to office space and equipment, the Company accounts for the lease and non-lease components as a single lease component.

In addition to rent payments, operating leases for office space generally contain payments for real estate taxes, insurance costs, common area maintenance, and utilities that are not fixed. The Company accounts for these costs as variable payments and does not include them in the lease component. There are certain office leases outside of the U.S. that have annual rent increases based on a year-over-year change in an index that are also accounted for as variable payments and are excluded from the lease component.

The following table summarizes the components of operating lease expense reflected on the accompanying consolidated statements of operations for the year ended December 31, 2019:

	Year Ended
	December 31, 2019
Operating lease cost	$	80,401
Variable lease cost		19,347
Less - sublease income		6,809
Total	$	92,939

The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the year ended December 31, 2019:

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	84,764

Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	607,770

Weighted average remaining lease term	12 years

Weighted average discount rate		3.6	%

Maturities of the operating lease liabilities outstanding at December 31, 2019 for each of the years in the period ending December 31, 2024 and thereafter are set forth in the table below.

Year Ending December 31,
2020	$	88,933
2021		84,485
2022		67,618
2023		62,647
2024		61,417
Thereafter		428,409
Total lease payments		793,509
Less - Discount		149,701
Operating lease liabilities	$	643,808

In August 2018, the Company entered into a lease agreement for additional office facilities, which were under construction. The lease commenced in the third quarter of 2019 when the facilities were delivered to the Company. The Company recognized the related operating lease right-of-use assets and the operating lease liability on the lease commencement date.

Prior to the adoption of the new lease accounting guidance, the minimum rental commitments under non-cancelable operating leases at December 31, 2018, net of sublease income, were approximately as follows:

Year Ending December 31,
2019	$	86,664
2020		89,260
2021		83,517
2022		70,611
2023		59,973
Thereafter		488,612
Total minimum rental commitments		878,637
Less - sublease proceeds		26,941
Net rental commitments	$	851,696

Segment Information - Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net Revenue	$ 720,523	$ 588,018	$ 628,150	$ 626,002	$ 683,949	$ 625,012	$ 754,639	$ 753,261	$ 2,562,693	$ 2,816,861	$ 2,639,597
Operating Expenses	589,623	535,200	520,537	517,139	538,164	490,280	562,825	566,309	2,162,499	2,157,578	2,005,844
Operating Income (Loss)	130,900	$ 52,818	$ 107,613	$ 108,863	145,785	$ 134,732	$ 191,814	$ 186,952	400,194	659,283	633,753
Total Assets	5,051,628				4,389,475				5,051,628	4,389,475	4,300,573
Depreciation and amortization of property									35,260	33,778	31,491
Operating Segments [Member] \| Financial Advisory Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue									1,352,168	1,548,918	1,386,688
Operating Expenses									1,196,906	1,206,511	1,130,186
Operating Income (Loss)									155,262	342,407	256,502
Total Assets	1,113,266				829,898				1,113,266	829,898	817,185
Depreciation and amortization of property									5,180	7,395	6,589
Operating Segments [Member] \| Asset Management Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue									1,237,390	1,331,801	1,255,820
Operating Expenses									887,522	912,110	810,870
Operating Income (Loss)									349,868	419,691	444,950
Total Assets	821,641				728,220				821,641	728,220	756,398
Depreciation and amortization of property									2,995	3,253	2,830
Corporate [Member]
Segment Reporting Information [Line Items]
Net Revenue									(26,865)	(63,858)	(2,911)
Operating Expenses									78,071	38,957	64,788
Operating Income (Loss)									(104,936)	(102,815)	(67,699)
Total Assets	$ 3,116,721				$ 2,831,357				3,116,721	2,831,357	2,726,990
Depreciation and amortization of property									$ 27,085	$ 23,130	$ 22,072

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Balance, January 1 (excluding interest and penalties of $15,830, $15,136 and $15,392, respectively)	$ 47,674	$ 47,426	$ 47,901
Increases in gross unrecognized tax benefits relating to tax positions taken during prior years	11,764	652	1,598
Increases in gross unrecognized tax benefits relating to tax positions taken during current years	16,795	11,960	12,608
Decreases in gross unrecognized tax benefits relating to tax positions taken during prior years	(19)	(699)	(2,961)
Decreases in gross unrecognized tax benefits relating to settlements with tax authorities	(7,251)	(1,218)
Decreases in gross unrecognized tax benefits relating to lapse of the applicable statute of limitations	(8,125)	(10,447)	(11,720)
Balance, December 31 (excluding interest and penalties of $18,161, $15,830 and $15,136, respectively)	$ 60,838	$ 47,674	$ 47,426

Business Realignment Activities - Expenses and losses Associated with Business Realignment Activity (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Other expenses and losses associated with business realignment	$ 11,175
Financial Advisory Segment [Member]
Other expenses and losses associated with business realignment	4,371
Financial Advisory Segment [Member] \| Certain Offices [Member]
Other expenses and losses associated with business realignment	$ 3,727

Leases - Summary of Components of Operating Lease Expense (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 80,401
Variable lease cost	19,347
Less - sublease income	6,809
Total	$ 92,939

Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2020	Dec. 31, 2019	Apr. 24, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend participation rights required the issuance of RSUs		862,609
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred incentive compensation awards	$ 357,900
Award vesting description	RSUs, restricted Class A common stock and LFI granted generally provide for one-third vesting on the second anniversary of the grant date and the remaining two-thirds vesting on the third anniversary of the grant date, so long as applicable conditions have been satisfied. The profits interest participation rights granted generally provide for vesting on the third anniversary of the grant date, so long as applicable conditions have been satisfied.
Lazard Fund Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, years		9 months 18 days
Non-Executive [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual compensation received by directors in the form of DSUs		55.00%
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis		one-for-one
Grant date fair value, amortized periods		generally one-third after two years, and the remaining two-thirds after the third year
Dividend participation rights required the issuance of RSUs		862,609
Unrecognized compensation expense		$ 123,982
Unrecognized compensation expense, years		9 months 18 days
Units, Granted		5,894,764
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual compensation paid in DSUs		51,379
Units granted under the directors deferred unit plan		21,048
Units, Granted		72,427
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 17,670
Unrecognized compensation expense, years		9 months 18 days
Units, Granted		1,039,736
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 2,828
Unrecognized compensation expense, years		7 months 6 days
Percentage of target number of shares subject to each PRSU no longer subject to forfeiture due to threshold level of performance being achieved		25.00%
Descriptions of vesting period		PRSUs will vest on a single date approximately three years following the date of the grant
Vesting period		3 years
PRSUs target share distribution for Class A common stock, description		The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU generally can range from zero to two times the target number.
Profits Interest Participation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock conversion basis		one-for-one
Unrecognized compensation expense		$ 17,447
Unrecognized compensation expense, years		1 year 1 month 6 days
Descriptions of vesting period		Profits interest participation rights generally provide for vesting approximately three years following the grant date
Vesting period		3 years
PRSUs target share distribution for Class A common stock, description		The target number of shares of Class A common stock subject to each PRPU is one. Based on the achievement of performance criteria, as determined by the Compensation Committee, the number of shares of Class A common stock that may be received in connection with each PRPU award will range from zero to two times the target number.
Percentage of target number of shares subject to the applicable units no longer subject to forfeiture due to threshold level of performance being achieved		25.00%
PRPUs Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Granted		564,167
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		2,064,257
Delivery of common stock associated with stock awards		3,843,209
Class A Common Stock [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery		434,924
Delivery of common stock associated with stock awards		874,973
Class A Common Stock [Member] \| PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery		203,036
Delivery of common stock associated with stock awards		968,045
Class A Common Stock [Member] \| 2018 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements			30,000,000
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 available under the plan		30.00%
Compensation plan expiration period		Apr. 24, 2018
Class A Common Stock [Member] \| 2005 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized pertaining to share based compensation arrangements		25,000,000

Consolidated VIEs - Summary of Consolidated VIE Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Investments	$ 531,995	$ 575,148
Lazard Fund Interests [Member] \| Lazard Group LLC [Member]
Variable Interest Entity [Line Items]
Investments	$ 83,036

Employee Benefit Plans - Schedule of Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation and Net Periodic Pension Cost (Detail) - Pension Plans [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Weighted average assumptions used to determine benefit obligations, Discount rate	1.80%	2.60%	2.30%
Weighted average assumptions used to determine net periodic benefit cost, Discount rate	2.20%	2.40%	2.20%
Weighted average assumptions used to determine net periodic benefit cost, Expected long-term rate of return on plan assets	4.40%	4.40%	3.80%

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 27,130	$ 40,115
Property, accumulated amortization and depreciation	366,880	339,448
Other intangible assets, accumulated amortization	$ 65,757	$ 63,591
Lazard Ltd common stock, shares	7,675,688	16,737,000
Lazard Ltd common stock, cost	$ 304,083	$ 729,910

Business Realignment Activities - Expenses and losses Associated with Business Realignment Activity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Compensation and benefits	$ 56,635
Other	11,175
Total	67,810
Financial Advisory Segment [Member]
Compensation and benefits	39,476
Other	4,371
Total	43,847
Asset Management Segment [Member]
Compensation and benefits	14,480
Other	1,750
Total	16,230
Corporate Segment [Member]
Compensation and benefits	2,679
Other	5,054
Total	$ 7,733

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 333,596	$ 570,920	$ 551,890
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property	35,260	33,778	31,491
Noncash lease expense	59,929
Amortization of deferred expenses and share-based incentive compensation	364,447	369,888	358,039
Amortization and other acquisition-related (benefits) costs	857	(957)	2,876
Deferred tax provision (benefit)	1,573	(9,337)	16,385
Loss on extinguishment of debt	6,505	6,523
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Receivables-net	19,910	(133,156)	107,543
Investments	54,828	(150,839)	28,922
Other assets	(124,642)	(139,952)	(79,120)
Accrued compensation and benefits and other liabilities	(94,629)	160,258	31,373
Net cash provided by operating activities	657,634	707,126	1,049,399
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(42,753)	(49,390)	(26,234)
Disposals of property	509	3,384	750
Net cash used in investing activities	(42,244)	(46,006)	(25,484)
Proceeds from:
Issuance of senior debt, net of expenses	492,032	490,970
Customer deposits	211,997	112,061	421,885
Contributions from noncontrolling interests	840	1,681
Other financing activities	925	25
Payments for:
Senior debt	(255,746)	(255,543)
Distributions to noncontrolling interests	(13,235)	(12,879)	(5,133)
Purchase of Class A common stock	(494,687)	(552,872)	(310,872)
Distribution to members	(263,935)	(448,912)	(346,072)
Settlement of share-based incentive compensation	(99,960)	(110,361)	(67,899)
Other financing activities	(7,592)	(6,407)	(18,381)
Net cash used in financing activities	(429,361)	(782,237)	(326,472)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(28,316)	(89,761)	163,685
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	157,713	(210,878)	861,128
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1	2,230,388	2,441,266	1,580,138
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— December 31	$ 2,388,101	$ 2,230,388	$ 2,441,266

Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Schedule of Activity in Allowance for Doubtful Accounts

Activity in the allowance for doubtful accounts for the years ended December 31, 2019, 2018 and 2017 was as follows:

	Year Ended December 31,
	2019			2018			2017
Beginning Balance	$	40,115		$	23,692		$	16,386
Bad debt expense, net of recoveries		(5,080	)		27,164			15,419
Charge-offs, foreign currency translation and other adjustments		(7,905	)		(10,741	)		(8,113	)
Ending Balance	$	27,130		$	40,115		$	23,692

Members' Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Members' Equity

15.	MEMBERS’ EQUITY

Lazard Group Distributions—Distributions in respect of Lazard Group’s common membership interests are allocated to the holders of such interests in accordance with the provisions of the Operating Agreement. Such distributions primarily 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 incur.

During the years ended December 31, 2019, 2018 and 2017, Lazard Group distributed $263,935, $448,912 and $346,072, respectively, to the subsidiaries of Lazard Ltd.

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.

On October 31, 2019, Lazard Group distributed to its managing members, which are subsidiaries of Lazard Ltd, 17,000,000 shares of Class A common stock that were held by Lazard Group. These shares were ultimately received by Lazard Ltd and cancelled. There was no impact on total members' equity as a result of this distribution.

Share Repurchase Program—During the year ended December 31, 2019 and since 2017, the Board of Directors of Lazard authorized the repurchase of Class A common stock as set forth in the table below.

Date	Repurchase Authorization		Expiration
October 2017	$	200,000	December 31, 2019
April 2018	$	300,000	December 31, 2020
October 2018	$	300,000	December 31, 2020
February 2019	$	300,000	December 31, 2020
October 2019	$	300,000	December 31, 2021

Years Ended December 31:	Number of Shares Purchased		Average Price Per Share
2017		6,956,097	$	44.10
2018		12,206,652	$	45.29
2019		13,674,439	$	36.18

There were 7,675,688 and 16,737,000 shares of Class A common stock held by Lazard Group at December 31, 2019 and 2018, respectively. Such shares of Class A common stock are reported, at cost, as a reduction of members’ equity within the accompanying consolidated statements of financial condition.

During 2019, 2018 and 2017, certain of our executive officers received Class A common stock in connection with the vesting or settlement of previously-granted deferred equity incentive awards. The vesting or settlement of such equity awards gave rise to a tax payable by the executive officers, and, consistent with our past practice, the Company purchased shares of Class A common stock from certain of our executive officers equal in value to all or a portion of the estimated amount of such tax. In addition, during the years ended December 31, 2018 and 2017, the Company purchased shares of Class A common stock from certain of our executive officers. The aggregate value of

all such purchases in 2019, 2018 and 2017 was approximately $14,600, $17,700 and $14,700, respectively. Such shares of Class A common stock are reported at cost.

During the year ended December 31, 2017, Lazard Group purchased 91,333 shares of Lazard Ltd Class A common stock from subsidiaries of Lazard Ltd for $4,130. There were no such purchases during the years ended December 31, 2019 and 2018.

As of December 31, 2019, a total of $400,825 of share repurchase authorization remained available under Lazard Ltd’s share repurchase program, $100,825 of which will expire on December 31, 2020 and $300,000 of which will expire on December 31, 2021.

During the year ended December 31, 2019, Lazard Ltd had in place trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), pursuant to which it effected stock repurchases in the open market.

	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Group AOCI
Balance, January 1, 2019	$	(82,829	)	$	(145,831	)	$	(228,660	)	$	-	$	(228,660	)
Activity:
Other comprehensive income (loss) before reclassifications		8,460			(34,921	)		(26,461	)		-		(26,461	)
Adjustments for items reclassified to earnings, net of tax		-			4,717			4,717			-		4,717
Net other comprehensive income (loss)		8,460			(30,204	)		(21,744	)		-		(21,744	)
Balance, December 31, 2019	$	(74,369	)	$	(176,035	)	$	(250,404	)	$	-	$	(250,404	)

	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Group AOCI
Balance, January 1, 2018	$	(43,790	)	$	(151,466	)	$	(195,256	)	$	-	$	(195,256	)
Activity:
Other comprehensive loss before reclassifications		(39,039	)		(5,100	)		(44,139	)		-		(44,139	)
Adjustments for items reclassified to earnings, net of tax		-			10,735			10,735			-		10,735
Net other comprehensive income (loss)		(39,039	)		5,635			(33,404	)		-		(33,404	)
Balance, December 31, 2018	$	(82,829	)	$	(145,831	)	$	(228,660	)	$	-	$	(228,660	)

	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Group AOCI
Balance, January 1, 2017	$	(109,306	)	$	(161,471	)	$	(270,777	)	$	(2	)	$	(270,775	)
Activity:
Other comprehensive income before reclassifications		65,516			2,054			67,570			2			67,568
Adjustments for items reclassified to earnings, net of tax		-			7,951			7,951			-			7,951
Net other comprehensive income		65,516			10,005			75,521			2			75,519
Balance, December 31, 2017	$	(43,790	)	$	(151,466	)	$	(195,256	)	$	-		$	(195,256	)

The table below reflects adjustments for items reclassified out of AOCI, by component, for the years ended December 31, 2019, 2018 and 2017:

	Year Ended December 31,
	2019		2018		2017
Amortization relating to employee benefit plans (a)	$	5,884	$	13,070	$	10,171
Less - related income taxes		1,167		2,335		2,220
Total reclassifications, net of tax	$	4,717	$	10,735	$	7,951

(a)	Included in the computation of net periodic benefit cost (see Note 17). Such amounts are included in “operating expenses –other” on the consolidated statements of operations.

Noncontrolling Interests—Noncontrolling interests principally represent (i) interests held in Edgewater’s management vehicles that the Company is deemed to control, but does not own, and (ii) consolidated VIE interests held by employees (see Note 23).

	Net Income Attributable to Noncontrolling Interests Year Ended December 31,
	2019		2018		2017
Edgewater	$	9,850	$	5,320	$	6,259
Consolidated VIEs		1,363		-		-
Other		3		3		4
Total	$	11,216	$	5,323	$	6,263

	Noncontrolling Interests as of December 31,
	2019		2018
Edgewater	$	50,151	$	52,695
Consolidated VIEs		18,241		-
Other		14		12
Total	$	68,406	$	52,707

Consolidated VIEs

12 Months Ended

Dec. 31, 2019

Variable Interest Entity Consolidated Carrying Amount Assets And Liabilities [Abstract]

Consolidated VIEs

23. CONSOLIDATED VIEs

The Company’s consolidated VIEs as of December 31, 2019 include certain funds that were recently established for the benefit of employees participating in the Company’s existing LFI deferred compensation arrangement. Lazard invests in these funds and is the investment manager and is therefore deemed to have both the power to direct the most significant activities of the funds and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to these funds. The Company’s consolidated VIE assets and liabilities as reflected in the consolidated statements of financial condition consist of the following at December 31, 2019:

ASSETS
Cash and cash equivalents	$	3,826
Customers and other receivables		102
Investments (a)		97,474
Other assets		245
Total Assets	$	101,647

LIABILITIES
Deposits and other customer payables	$	62
Other liabilities		513
Total Liabilities	$	575

(a)	Includes $83,036 of LFI held by Lazard Group which is eliminated in the consolidated statements of financial condition.

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

7.	FAIR VALUE MEASUREMENTS

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

Level 1.

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

Level 2.

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

Level 3.

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

The fair value of debt is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets.

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

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

The fair value of investments in private equity funds is classified as Level 3 for certain investments that are valued based on the potential transaction value as of December 31, 2019.

The fair value of securities sold, not yet purchased, is classified as Level 1 when the fair values are based on unadjusted quoted prices in active markets.

The fair value of the contingent consideration liability is classified as Level 3 and the fair value of the liability is remeasured at each reporting period. The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods. Any change in the fair value is recognized in “amortization and other acquisition-related (benefits) costs” in the consolidated statement of operations. Our business acquisitions may involve the potential payment of contingent consideration upon the achievement of certain performance thresholds. The contingent consideration liability is initially recorded at fair value of the contingent payments on the acquisition date and is included in “other liabilities” on the consolidated statements of financial condition. See Note 14.

The fair value of derivatives entered into by the Company is classified as Level 2 and is based on the values of the related underlying assets, indices or reference rates as follows: the fair value of forward foreign currency exchange rate contracts is a function of the spot rate and the interest rate differential of the two currencies from the trade date to settlement date; the fair value of total return swaps is based on the change in fair value of the related underlying equity security, financial instrument or index and a specified notional holding; the fair value of interest rate swaps is based on the interest rate yield curve; and the fair value of derivative liabilities related to LFI and other similar deferred compensation arrangements is based on the value of the underlying investments, adjusted for forfeitures. See Note 8.

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

The following tables present, as of December 31, 2019 and 2018, the classification of (i) investments and certain other assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy and (ii) investments measured at NAV or its equivalent as a practical expedient:

	December 31, 2019
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Debt	$	100,000	$	-	$	-	$	-	$	100,000
Equities		46,921		-		1,600		-		48,521
Funds:
Alternative investments		15,731		-		-		850		16,581
Debt		113,574		-		-		5		113,579
Equity		218,393		-		-		42		218,435
Private equity		-		-		1,371		32,991		34,362
Derivatives		-		1,395		-		-		1,395
Total	$	494,619	$	1,395	$	2,971	$	33,888	$	532,873
Liabilities:
Securities sold, not yet purchased	$	12,894	$	-	$	-	$	-	$	12,894
Derivatives		-		236,273		-		-		236,273
Total	$	12,894	$	236,273	$	-	$	-	$	249,167

	December 31, 2018
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Debt	$	202,874	$	-	$	-	$	-	$	202,874
Equities		30,639		-		1,622		-		32,261
Funds:
Alternative investments		16,863		-		-		889		17,752
Debt		90,313		-		-		7		90,320
Equity		175,054		-		-		34		175,088
Private equity		-		-		-		56,343		56,343
Derivatives		-		11,967		-		-		11,967
Total	$	515,743	$	11,967	$	1,622	$	57,273	$	586,605
Liabilities:
Securities sold, not yet purchased	$	3,929	$	-	$	-	$	-	$	3,929
Contingent consideration liability		-		-		1,309		-		1,309
Derivatives		-		188,962		-		-		188,962
Total	$	3,929	$	188,962	$	1,309	$	-	$	194,200

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the years ended December 31, 2019, 2018 and 2017:

	Year Ended December 31, 2019
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)			Purchases/ Acquisitions/ Transfers (b)		Sales/ Dispositions/ Settlements		Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	1,622	$	(21	)	$	-	$	-	$	(1	)	$	1,600
Private equity funds		-		(760	)		2,131		-		-			1,371
Total Level 3 Assets	$	1,622	$	(781	)	$	2,131	$	-	$	(1	)	$	2,971

Liabilities:
Contingent consideration liability	$	1,309	$	(1,309	)	$	-	$	-	$	-		$	-
Total Level 3 Liabilities	$	1,309	$	(1,309	)	$	-	$	-	$	-		$	-

	Year Ended December 31, 2018
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)			Purchases/ Acquisitions		Sales/ Dispositions/ Settlements		Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	1,592	$	61		$	1	$	-	$	(32	)	$	1,622
Total Level 3 Assets	$	1,592	$	61		$	1	$	-	$	(32	)	$	1,622

Liabilities:
Contingent consideration liability	$	4,656	$	(3,347	)	$	-	$	-	$	-		$	1,309
Total Level 3 Liabilities	$	4,656	$	(3,347	)	$	-	$	-	$	-		$	1,309

	Year Ended December 31, 2017
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)		Purchases/ Acquisitions		Sales/ Dispositions/ Settlements			Foreign Currency Translation Adjustments		Ending Balance
Assets:
Investments:
Equities	$	1,508	$	14	$	1,661	$	(1,669	)	$	78	$	1,592
Total Level 3 Assets	$	1,508	$	14	$	1,661	$	(1,669	)	$	78	$	1,592

Liabilities:
Contingent consideration liability	$	3,364	$	1,292	$	-	$	-		$	-	$	4,656
Total Level 3 Liabilities	$	3,364	$	1,292	$	-	$	-		$	-	$	4,656

(a)

Earnings recorded in “other revenue” for investments in equities for the years ended December 31, 2019, 2018 and 2017 include net unrealized gains (losses) of $(781), $61 and $12, respectively. Earnings recorded in “amortization and other acquisition-related (benefits) costs” for the contingent consideration liability for the years ended December 31, 2019, 2018 and 2017 include unrealized (gains) losses of $(1,309), $(3,347) and $1,292, respectively.

(b)	Certain investments that were valued at NAV as of December 31, 2018 were transferred to Level 3 during the year ended December 31, 2019 as these investments are valued based on a potential transaction value that differs from NAV.

There were no transfers between any of the Level 1, 2 and 3 categories in the fair value measurement hierarchy during the years ended December 31, 2019 and 2018.

Financial Instruments Not Measured at Fair Value—The tables below present the carrying value, fair value and fair value hierarchy category of certain financial instruments as of December 31, 2019 and 2018 that are not measured at fair value in the Company’s consolidated statement of financial condition.

	December 31, 2019
			Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	1,164,135	$	1,164,135	$	1,164,135	$	-	$	-
Deposits with banks and short-term investments		1,180,686		1,180,686		1,180,686		-		-
Cash deposited with clearing organizations and other segregated cash		43,280		43,280		43,280		-		-
Interest-bearing financing receivables		77,052		78,940		-		-		78,940
Interest-bearing deposits (included within investments)		517		517		517		-		-
Financial Liabilities:
Deposits and other customer payables	$	1,246,200	$	1,246,200	$	1,246,200	$	-	$	-
Senior debt		1,679,562		1,838,716		-		1,838,716		-

	December 31, 2018
			Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	1,185,040	$	1,185,040	$	1,185,040	$	-	$	-
Deposits with banks and short-term investments		1,006,969		1,006,969		1,006,969		-		-
Cash deposited with clearing organizations and other segregated cash		38,379		38,379		38,379		-		-
Interest-bearing financing receivables		90,966		91,765		-		-		91,765
Interest-bearing deposits (included within investments)		510		510		510		-		-
Financial Liabilities:
Deposits and other customer payables	$	1,154,208	$	1,154,208	$	1,154,208	$	-	$	-
Senior debt		1,434,260		1,429,280		-		1,429,280		-

Cash and cash equivalents are carried at either cost or amortized cost that approximates fair value due to their short-term maturities.

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

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

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

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

The following tables present, at December 31, 2019 and 2018, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:

December 31, 2019

Estimated Liquidation Period of

Investments Not Redeemable

Investments

Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

5 Years

5-10

Years

Thereafter

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

241

(a)

30-60 days

Other

609

(b)

<30-30 days

Debt funds

(c)

<30 days

Equity funds

(d)

<30-60 days

Private equity funds:

Equity growth

32,991

6,056

(e)

100

Total

33,888

6,056

(a)	monthly (52%) and quarterly (48%)

(b)	daily (6%) and monthly (94%)

(c)	daily (100%)

(d)	monthly (34%) and annually (66%)

(e)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $11,155 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

December 31, 2018

Estimated Liquidation Period of

Investments Not Redeemable

Investments

Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

5 Years

5-10

Years

Thereafter

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

299

(a)

30-60 days

Funds of funds

(b)

>90 days

Other

567

(c)

<30-30 days

Debt funds

(d)

<30 days

Equity funds

(e)

<30-90 days

Private equity funds:

Equity growth

56,343

8,338

(f)

100

Total

57,273

8,338

(a)	monthly (100%)

(b)	quarterly (100%)

(c)	daily (6%) and monthly (94%)

(d)	daily (100%)

(e)	daily (25%), monthly (70%) and annually (5%)

(f)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $14,437 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

Investment Capital Funding Commitments—At December 31, 2019, the Company’s maximum unfunded commitments for capital contributions to investment funds primarily arose from commitments to EGCP III, which amounted to $5,484. The investment period for EGCP III ended on October 12, 2016, after which point the Company’s obligation to fund capital contributions for new investments in EGCP III expired. The Company remains obligated until October 12, 2023 (or any earlier liquidation of EGCP III) to make capital contributions necessary to fund follow-on investments and to pay for fund expenses.

Incentive Plans

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Incentive Plans

16.	INCENTIVE PLANS

Share-Based Incentive Plan Awards

A description of Lazard Ltd’s 2018 Plan, 2008 Plan and 2005 Equity Incentive Plan (the “2005 Plan”) and activity with respect thereto during the years ended December 31, 2019, 2018 and 2017 is presented below.

Shares Available Under the 2018 Plan, 2008 Plan and 2005 Plan

The 2018 Plan became effective on April 24, 2018 and replaced the 2008 Plan, which was terminated on April 24, 2018. The 2018 Plan authorizes the issuance of up to 30,000,000 shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”), profits interest participation rights, including performance-based restricted participation units (“PRPUs”), and other share-based awards.

The 2008 Plan authorized the issuance of shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, RSUs, PRSUs and other share-based awards. Under the 2008 Plan, the maximum number of shares available was based on a formula that limited the aggregate number of shares that could, at any time, be subject to awards that were considered “outstanding” under the 2008 Plan to 30% of the then-outstanding shares of Class A common stock. The 2008 Plan was terminated on April 24, 2018, and no additional awards have been or will be granted under the 2008 Plan after its termination, although outstanding awards granted under the 2008 Plan before its termination continue to be subject to its terms.

The 2005 Plan authorized the issuance of up to 25,000,000 shares of Class A common stock pursuant to the grant or exercise of stock options, stock appreciation rights, RSUs and other share-based awards. The 2005 Plan expired in the second quarter of 2015, although outstanding deferred stock unit (“DSU”) awards granted under the 2005 Plan before its expiration continue to be subject to its terms.

	Year Ended December 31,
	2019		2018		2017
Share-based incentive awards:
RSUs	$	168,338	$	193,924	$	190,821
PRSUs		8,742		34,114		40,767
Restricted Stock		29,322		37,261		39,369
Profits interest participation rights		44,537		-		-
DSUs		1,173		1,137		1,004
Total	$	252,112	$	266,436	$	271,961

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

RSUs and DSUs

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

RSUs generally include a dividend participation right that provides that during vesting periods each RSU is attributed additional RSUs (or fractions thereof) equivalent to any dividends paid on Class A common stock during such period. During the year ended December 31, 2019, dividend participation rights required the issuance of 862,609 RSUs.

Non-executive members of the Board of Directors of Lazard Group, who are the same Non-Executive Directors of Lazard Ltd (“Non-Executive Directors”), receive approximately 55% of their annual compensation for service on the Board of Directors and its committees in the form of DSUs, which resulted in 51,379 DSUs granted during the year ended December 31, 2019. Their remaining compensation is payable in cash, which they may elect to receive in the form of additional DSUs under the Directors’ Fee Deferral Unit Plan described below. DSUs are convertible into shares of Class A common stock at the time of cessation of service to the Board of Directors. DSUs include a cash dividend participation right equivalent to dividends paid on Class A common stock.

Lazard Ltd’s Directors’ Fee Deferral Unit Plan permits the Non-Executive Directors to elect to receive additional DSUs in lieu of some or all of their cash fees. The number of DSUs granted to a Non-Executive Director pursuant to this election will equal the value of cash fees that the applicable Non-Executive Director has elected to forego pursuant to such election, divided by the market value of a share of Class A common stock on the date immediately preceding the date of the grant. During the year ended December 31, 2019, 21,048 DSUs 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 for the year ended December 31, 2019:

	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2019		11,362,306		$	43.78		323,546	$	39.27
Granted (including 862,609 RSUs relating to dividend participation)		5,894,764		$	38.65		72,427	$	32.38
Forfeited		(962,038	)	$	43.43		-		-
Settled		(5,907,466	)	$	37.17		-		-
Balance, December 31, 2019		10,387,566		$	44.66		395,973	$	38.01

In connection with RSUs that settled during the year ended December 31, 2019, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 2,064,257 shares of Class A common stock during the year. Accordingly, 3,843,209 shares of Class A common stock held by the Company were delivered during the year ended December 31, 2019.

As of December 31, 2019, estimated unrecognized RSU compensation expense was $123,982, with such expense expected to be recognized over a weighted average period of approximately 0.8 years subsequent to December 31, 2019.

Restricted Stock

The following is a summary of activity related to shares of restricted Class A common stock associated with compensation arrangements during year ended December 31, 2019:

	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2019		1,541,058		$	43.16
Granted		1,039,736		$	35.32
Forfeited		(231,591	)	$	40.57
Settled		(1,309,897	)	$	38.49
Balance, December 31, 2019		1,039,306		$	41.79

In connection with shares of restricted Class A common stock that settled during the year ended December 31, 2019, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 434,924 shares of Class A common stock during the year. Accordingly, 874,973 shares of Class A common stock held by the Company were delivered during the year ended December 31, 2019.

The restricted stock awards include a cash dividend participation right equivalent to dividends paid on Class A common stock during the period, which will vest concurrently with the underlying restricted stock award. At December 31, 2019, estimated unrecognized restricted stock expense was $17,670, with such expense to be recognized over a weighted average period of approximately 0.8 years subsequent to December 31, 2019.

PRSUs

PRSUs are RSUs that 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 Lazard Ltd’s performance over a three-year period. The target number of shares of Class A common stock subject to each PRSU is one; however, based on the achievement of the performance criteria, the number of shares of Class A common stock that may be received in connection with each PRSU generally can range from zero to two times the target number. PRSUs will vest on a single date approximately three years following the date of the grant, 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 Lazard Ltd has achieved a threshold level of performance with respect to the fiscal year, 25% of the target number of shares of Class A common stock subject to each PRSU will no longer be at risk of forfeiture based on the achievement of performance criteria. PRSUs include dividend participation rights that provide that during vesting periods the target number of PRSUs (or, following the relevant performance period, the actual number of shares of Class A common stock that are no longer subject to performance conditions) receive dividend equivalents at the same rate that dividends are paid on Class A common stock during such periods. These dividend equivalents are credited as RSUs that are not subject to the performance-based vesting criteria but are otherwise subject to the same restrictions as the underlying PRSUs to which they relate.

The following is a summary of activity relating to PRSUs during the year ended December 31, 2019:

	PRSUs			Weighted Average Grant Date Fair Value
Balance, January 1, 2019		1,771,795		$	38.66
Performance units earned (a)		196,991		$	38.09
Settled		(1,171,081	)	$	32.44
Balance, December 31, 2019		797,705		$	47.65

(a)	Represents shares of Class A common stock earned during the fiscal year under the performance criteria of previously-granted PRSU awards in excess of the target payout level of such awards.

In connection with certain PRSUs that settled during the year ended December 31, 2019, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 203,036 shares of Class A common stock during the year. Accordingly, 968,045 shares of Class A common stock held by the Company were delivered during the year ended December 31, 2019.

Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. As of December 31, 2019, the total estimated unrecognized compensation expense was $2,828, and the Company expects to amortize such expense over a weighted-average period of approximately 0.6 years subsequent to December 31, 2019.

Profits Interest Participation Rights

In early 2019, the Company established a new long-term incentive compensation program consisting of profits interest participation rights, which are equity incentive awards that, subject to certain conditions, may be exchanged for shares of Class A common stock pursuant to the 2018 Plan. Pursuant to the program, in February 2019, the Company granted profits interest participation rights subject to service-based and performance-based vesting criteria and other conditions, which we refer to as performance-based restricted participation units (“PRPUs”), to each of the Company’s NEOs, and profits interest participation rights subject to service-based vesting criteria and other conditions to a limited number of other senior employees, pursuant to profits interest participation right agreements. Profits interest participation rights generally provide for vesting approximately three years following the grant date, so long as applicable conditions have been satisfied.

Profits interest participation rights are a class of membership interests in the Company that are intended to qualify as “profits interests” for U.S. federal income tax purposes, and are recorded within members’ equity in the Company’s consolidated statements of financial condition. The profits interest participation rights generally allow the recipient to realize value only to the extent that both (i) the service-based vesting conditions and, if applicable, the performance conditions, are satisfied, and (ii) an amount of economic appreciation in the assets of the Company occurs as necessary to satisfy certain partnership tax rules (referred to as the "Minimum Value Condition") before the fifth anniversary of the grant date, otherwise the profits interest participation rights will be forfeited. Upon satisfaction of such conditions, profits interest participation rights that are in parity with the value of Class A common stock will be exchanged on a one-for-one basis for shares of Class A common stock. If forfeited based solely on failing to meet the Minimum Value Condition, the associated compensation expense would not be reversed.

Like outstanding RSUs and similar awards, profits interest participation rights are subject to continued employment and other conditions and restrictions and are forfeited if those conditions and restrictions are not fulfilled. More specifically, vesting of profits interest participation rights are subject to compliance with restrictive covenants including non-compete, non-solicitation of clients, no hire of employees and confidentiality, which are similar to those applicable to PRSUs and RSUs. In addition, profits interest participation rights must satisfy the Minimum Value Condition. PRPUs, like outstanding PRSUs, are subject to the achievement of incremental pre-established performance conditions and financial metrics and only result in value to the recipient to the extent the conditions are satisfied.

The number of shares of Class A common stock that a recipient will receive upon the exchange of a PRPU award is calculated by reference to applicable financial metrics. The target number of shares of Class A common stock subject to each PRPU is one. Based on the achievement of performance criteria, as determined by the Compensation Committee, the number of shares of Class A common stock that may be received in connection with each PRPU award will range from zero to two times the target number. Unless applicable performance conditions are satisfied during the three year performance period, and the Minimum Value Condition is satisfied within five years following the grant date, all PRPUs will be forfeited, and the recipients will not be entitled to any such awards.

In addition, the performance metrics applicable to each PRPU will be evaluated on an annual basis at the end of each fiscal year during the performance period, and, if Lazard Ltd has achieved a threshold level of performance with respect to the fiscal year, 25% of the target number of PRPUs will no longer be at risk of forfeiture based on the achievement of performance criteria. Profits interest participation rights are allocated income, subject to vesting and settled in cash, in respect of dividends paid on Class A common stock.

The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the year ended December 31, 2019:

	Profits Interest Participation Rights		Weighted Average Grant Date Fair Value
Balance, January 1, 2019		-		-
Granted (a)		1,462,702	$	38.65
Balance, December 31, 2019		1,462,702	$	38.65

(a)	Table includes 564,167 PRPUs, which represents the target number of PRPUs granted during the fiscal year.

Compensation expense recognized for profits interest participation rights, including PRPUs, is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are considered probable of vesting, by the grant date fair value. As of December 31, 2019, the total estimated unrecognized compensation expense was $17,447, and the Company expects to amortize such expense over a weighted-average period of approximately 1.1 years subsequent to December 31, 2019.

LFI and Other Similar Deferred Compensation Arrangements

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

of estimated forfeitures, and is adjusted for changes in fair value primarily related to changes in value of the underlying investments.

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the year ended December 31, 2019:

	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2019	$	76,362		$	188,022
Granted		101,529			101,529
Settled		-			(96,976	)
Forfeited		(1,702	)		(3,455	)
Amortization		(101,663	)		-
Change in fair value related to:
Increase in fair value of underlying investments		-			31,657
Adjustment for estimated forfeitures		-			5,340
Other		71			(91	)
Balance, December 31, 2019	$	74,597		$	226,026

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 0.8 years subsequent to December 31, 2019.

	Year Ended Ended December 31,
	2019		2018			2017
Amortization, net of forfeitures	$	105,250	$	90,230		$	73,382
Change in the fair value of underlying investments		31,657		(14,086	)		23,526
Total	$	136,907	$	76,144		$	96,908

Incentive Awards Granted In February 2020

In February 2020, the Company granted approximately $357,900 of deferred incentive compensation awards to eligible employees as part of the year-end compensation process with respect to the 2019 fiscal year. These grants included: RSUs or shares of restricted Class A common stock; profits interest participation rights, including PRPUs; LFI awards; deferred cash awards; and a portion of certain fund managers’ year-end incentive compensation that is reinvested in certain funds managed by the Company’s Asset Management business.

The RSUs, restricted Class A common stock and LFI granted generally provide for one-third vesting on the second anniversary of the grant date and the remaining two-thirds vesting on the third anniversary of the grant date, so long as applicable conditions have been satisfied. The profits interest participation rights granted generally provide for vesting on the third anniversary of the grant date, so long as applicable conditions have been satisfied. Compensation expense with respect to such incentive awards will generally be recognized over the applicable service period.

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Individual clients did not constitute more than a specific percentage of net revenue	10.00%	10.00%	10.00%

Investments

12 Months Ended

Dec. 31, 2019

Schedule Of Investments [Abstract]

Investments

6.	INVESTMENTS

The Company’s investments and securities sold, not yet purchased, consist of the following at December 31, 2019 and 2018:

	December 31,
	2019		2018
Interest-bearing deposits	$	517	$	510
Debt		100,000		202,874
Equities		48,521		32,261
Funds:
Alternative investments (a)		16,581		17,752
Debt (a)		113,579		90,320
Equity (a)		218,435		175,088
Private equity		34,362		56,343
		382,957		339,503
Total investments		531,995		575,148
Less:
Interest-bearing deposits		517		510
Investments, at fair value	$	531,478	$	574,638
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	12,894	$	3,929

(a)

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

Debt primarily consists of U.S. Treasury securities with original maturities of greater than three months and less than one year.

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

Alternative investment funds primarily consist of interests in various Lazard-managed hedge funds, funds of funds and mutual funds. Such amounts primarily consist of seed investments in funds related to our Asset Management business and amounts related to LFI discussed above.

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

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

Private equity investments include those owned by Lazard and those consolidated but not owned by Lazard. Private equity investments owned by Lazard are primarily comprised of investments in private equity funds. Such investments primarily include (i) Edgewater Growth Capital Partners III, L.P. (“EGCP III”), a fund primarily making equity and buyout investments in middle market companies and (ii) a fund targeting significant noncontrolling-stake investments in established private companies.

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”).

	Year Ended December 31,
	2019		2018			2017
Net unrealized investment gains (losses)	$	36,610	$	(43,009	)	$	27,192

Other Assets and Other Liabilities

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Other Assets and Other Liabilities

12.	OTHER ASSETS AND OTHER LIABILITIES

The following table sets forth the Company’s other assets, by type, as of December 31, 2019 and 2018:

	December 31,
	2019		2018
Current income and other tax receivables	$	58,355	$	35,269
Prepaid compensation (see Note 16)		74,597		76,362
Other advances and prepayments		43,042		66,248
Other		80,441		80,534
Total	$	256,435	$	258,413

The following table sets forth the Company’s other liabilities, by type, as of December 31, 2019 and 2018:

	December 31,
	2019		2018
Accrued expenses	$	178,019	$	165,691
Current income taxes and other taxes		133,358		128,372
Employee benefit-related liabilities		51,370		51,051
Deferred lease liabilities		-		84,352
Unclaimed funds at LFB		17,405		17,746
Deferred revenue (a)		97,964		80,995
Contingent consideration liability		-		1,309
Securities sold, not yet purchased		12,894		3,929
Other		36,916		32,356
Total	$	527,926	$	565,801

(a)

The change in deferred revenue during the year ended December 31, 2019 principally relates to additional carried interest received from private equity investments that is subject to clawback. The revenue recognized during the current year related to the deferred revenue balance as of the beginning of the year was not material to the consolidated financial statements.

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUE
Interest income	$ 15,160	$ 13,151	$ 7,201
Total revenue	2,644,682	2,878,914	2,696,851
Interest expense	81,989	62,053	57,254
Net revenue	2,562,693	2,816,861	2,639,597
OPERATING EXPENSES
Compensation and benefits	1,553,875	1,508,813	1,507,332
Occupancy and equipment	122,482	120,394	124,636
Marketing and business development	114,713	108,373	88,943
Technology and information services	143,591	139,587	121,532
Professional services	69,198	59,124	45,191
Fund administration and outsourced services	114,048	132,963	71,254
Amortization and other acquisition-related (benefits) costs	857	(957)	2,876
Other	43,735	89,281	44,080
Total operating expenses	2,162,499	2,157,578	2,005,844
OPERATING INCOME	400,194	659,283	633,753
Provision for income taxes	66,598	88,363	81,863
NET INCOME	333,596	570,920	551,890
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	11,216	5,323	6,263
NET INCOME ATTRIBUTABLE TO LAZARD GROUP LLC	322,380	565,597	545,627
Investment Banking and Other Advisory Fees [Member]
REVENUE
Revenue	1,349,548	1,547,506	1,384,671
Asset Management Fees [Member]
REVENUE
Revenue	1,180,857	1,268,399	1,195,550
Other [Member]
REVENUE
Revenue	$ 99,117	$ 49,858	$ 109,429

Recent Accounting Developments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Operating lease right-of-use assets	$ 551,050			$ 501,000
Operating lease liability	$ 643,808			$ 581,000
U.S. federal statutory income tax rate	21.00%	21.00%	35.00%

Employee Benefit Plans - Schedule of Amounts in AOCI on Consolidated Statement of Financial Condition Expected to be Recognized (Detail) - Pension Plans [Member] $ in Thousands	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 6,555
Prior service cost	$ 114

Derivatives - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives instruments	$ (38,963)	$ 30,483	$ (48,379)
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	6,988	7,584	(9,144)
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(31,657)	14,086	(23,526)
Total Return Swaps and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (14,294)	$ 8,813	$ (15,709)

Regulatory Authorities - Additional Information (Detail)	Dec. 31, 2019 USD ($)
LFNY [Member]
Regulatory Requirements [Line Items]
Specified fixed percentage, minimum required capital	6.67%
Minimum net capital requirement as defined under exchange act	$ 5,000
Regulatory capital	134,374,000
Regulatory capital in excess of minimum requirement	$ 127,427,000
Aggregate indebtedness to net capital ratio	0.78
LFNY [Member] \| Maximum [Member]
Regulatory Requirements [Line Items]
Aggregate indebtedness to net capital ratio	15
U.K. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	$ 175,890,000
Regulatory capital in excess of minimum requirement	158,700,000
CFLF [Member]
Regulatory Requirements [Line Items]
Regulatory capital	127,935,000
Regulatory capital in excess of minimum requirement	69,150,000
Combined European Regulated Group [Member]
Regulatory Requirements [Line Items]
Regulatory capital	182,054,000
Regulatory capital in excess of minimum requirement	75,566,000
Other U.S. and Non-U.S. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	153,707,000
Regulatory capital in excess of minimum requirement	$ 124,392,000

Fair Value Measurements - Financial Instruments Not Measured at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial Assets:
Cash and cash equivalents	$ 1,164,135	$ 1,185,040	$ 1,470,296
Deposits with banks and short-term investments	1,180,686	1,006,969	935,431
Cash deposited with clearing organizations and other segregated cash	43,280	38,379	$ 35,539
Interest-bearing financing receivables	77,052	90,966
Financial Liabilities:
Deposits and other customer payables	1,246,200	1,154,208
Senior debt	1,679,562	1,434,260
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	1,164,135	1,185,040
Deposits with banks and short-term investments	1,180,686	1,006,969
Cash deposited with clearing organizations and other segregated cash	43,280	38,379
Interest-bearing financing receivables	77,052	90,966
Interest-bearing deposits (included within investments)	517	510
Financial Liabilities:
Deposits and other customer payables	1,246,200	1,154,208
Senior debt	1,679,562	1,434,260
Fair Value [Member]
Financial Assets:
Deposits with banks and short-term investments	1,180,686	1,006,969
Cash deposited with clearing organizations and other segregated cash	43,280	38,379
Interest-bearing financing receivables	78,940	91,765
Cash and cash equivalents	1,164,135	1,185,040
Interest-bearing deposits (included within investments)	517	510
Financial Liabilities:
Deposits and other customer payables	1,246,200	1,154,208
Senior debt	1,838,716	1,429,280
Fair Value [Member] \| Level 1 [Member]
Financial Assets:
Deposits with banks and short-term investments	1,180,686	1,006,969
Cash deposited with clearing organizations and other segregated cash	43,280	38,379
Cash and cash equivalents	1,164,135	1,185,040
Interest-bearing deposits (included within investments)	517	510
Financial Liabilities:
Deposits and other customer payables	1,246,200	1,154,208
Fair Value [Member] \| Level 2 [Member]
Financial Liabilities:
Senior debt	1,838,716	1,429,280
Fair Value [Member] \| Level 3 [Member]
Financial Assets:
Interest-bearing financing receivables	$ 78,940	$ 91,765

Property

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Property

PROPERTY

At December 31, 2019 and 2018, property consisted of the following:

	Estimated
	Depreciable		December 31,
	Life in Years		2019		2018
Buildings		33	$	142,298	$	145,034
Leasehold improvements	3-20			196,277		187,930
Furniture and equipment	3-10			214,700		204,057
Construction in progress				32,476		14,140
Total				585,751		551,161
Less - Accumulated depreciation and amortization				366,880		339,448
Property			$	218,871	$	211,713

Receivables - Schedule of Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance For Doubtful Accounts Receivable Rollforward
Allowance for doubtful accounts receivables, Beginning balance	$ 40,115	$ 23,692	$ 16,386
Bad debt expense, net of recoveries	(5,080)	27,164	15,419
Charge-offs, foreign currency translation and other adjustments	(7,905)	(10,741)	(8,113)
Allowance for doubtful accounts receivables, Ending balance	$ 27,130	$ 40,115	$ 23,692

Business Realignment

12 Months Ended

Dec. 31, 2019

Restructuring And Related Activities [Abstract]

Business Realignment

18.	BUSINESS REALIGNMENT

The Company conducted a review of our business, which resulted in a realignment that included employee reductions and the closing of subscale offices and investment strategies, most of which were completed during the third quarter of 2019.

Expenses and losses associated with business realignment for the year ended December 31, 2019 were as follows:

	Financial		Asset
	Advisory		Management		Corporate		Total
Compensation and benefits	$	39,476	$	14,480	$	2,679	$	56,635
Other (a)		4,371		1,750		5,054		11,175
Total	$	43,847	$	16,230	$	7,733	$	67,810

(a)	Financial Advisory includes losses of $3,727 associated with the closing of certain offices as part of business realignment.

Activity related to the obligations pursuant to business realignment during the year ended December 31, 2019 was as follows:

	Accrued
	Compensation			Other
	and Benefits			Liabilities			Total
Balance, January 1, 2019	$	-		$	-		$	-
New charges		56,635			11,175			67,810
Less:
Non-cash charges		(16,596	)		(5,456	)		(22,052	)
Payments		(19,829	)		(651	)		(20,480	)
Balance, December 31, 2019	$	20,210		$	5,068		$	25,278

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 LLC Members' Equity [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2016	$ 736,140	$ 949,669	$ (270,775)	$ 678,894	$ 57,246
Adjustment for the cumulative effect on prior years from the adoption of new accounting guidance related to share-based incentive compensation at Dec. 31, 2016	4,945	4,945		4,945
Balance, as adjusted at Dec. 31, 2016	741,085	954,614	(270,775)	683,839	57,246
Comprehensive income (loss)
Net income	551,890	545,627		545,627	6,263
Other comprehensive income (loss) - net of tax	75,521		75,519	75,519	2
Amortization of share-based incentive compensation	272,965	272,965		272,965
Distributions to members and noncontrolling interests, net	(351,205)	(346,072)		(346,072)	(5,133)
Purchase of Class A common stock	(310,872)	(310,872)		(310,872)
Delivery of Class A common stock inconnection with share-based incentive compensation and related tax expense (benefit)	(67,899)	(67,899)		(67,899)
Business acquisitions and related equity transactions:
Delivery of Class A common stock	605	605		605
Class A common stock issuable (including related amortization)	371	371		371
Other	(5,561)	(5,765)		(5,765)	204
Balance at Dec. 31, 2017	906,900	1,043,574	(195,256)	848,318	58,582
Comprehensive income (loss)
Net income	570,920	565,597		565,597	5,323
Other comprehensive income (loss) - net of tax	(33,404)		(33,404)	(33,404)
Amortization of share-based incentive compensation	267,573	267,573		267,573
Distributions to members and noncontrolling interests, net	(460,110)	(448,912)		(448,912)	(11,198)
Purchase of Class A common stock	(552,872)	(552,872)		(552,872)
Delivery of Class A common stock inconnection with share-based incentive compensation and related tax expense (benefit)	(110,432)	(110,432)		(110,432)
Business acquisitions and related equity transactions:
Class A common stock issuable (including related amortization)	353	353		353
Other	6,176	6,176		6,176
Balance at Dec. 31, 2018	582,752	758,705	(228,660)	530,045	52,707
Comprehensive income (loss)
Net income	333,596	322,380		322,380	11,216
Other comprehensive income (loss) - net of tax	(21,744)		(21,744)	(21,744)
Amortization of share-based incentive compensation	253,284	253,284		253,284
Distributions to members and noncontrolling interests, net	(276,330)	(263,935)		(263,935)	(12,395)
Purchase of Class A common stock	(494,687)	(494,687)		(494,687)
Delivery of Class A common stock inconnection with share-based incentive compensation and related tax expense (benefit)	(99,911)	(99,911)		(99,911)
Business acquisitions and related equity transactions:
Class A common stock issuable (including related amortization)	205	205		205
Consolidation of VIEs	16,878				16,878
Other	(6,717)	(6,717)		(6,717)
Balance at Dec. 31, 2019	$ 287,326	$ 469,324	$ (250,404)	$ 218,920	$ 68,406

Incentive Plans - Summary of Impact of LFI and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation [Abstract]
Amortization, net of forfeitures	$ 105,250	$ 90,230	$ 73,382
Change in the fair value of underlying investments	31,657	(14,086)	23,526
Total	$ 136,907	$ 76,144	$ 96,908

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

1.	ORGANIZATION AND BASIS OF PRESENTATION

Organization

The accompanying consolidated financial statements are those of Lazard Group LLC and its subsidiaries (collectively referred to as “Lazard Group”, “we” or the “Company”). Lazard Group is a Delaware limited liability company, which is governed by an Amended and Restated Operating Agreement dated as of February 4, 2019 (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, is one of the world’s preeminent financial advisory and asset management firms and has long specialized in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, governments, institutions, partnerships and individuals.

Lazard Ltd indirectly held 100% of all outstanding Lazard Group common membership interests as of December 31, 2019 and 2018. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group.

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”), capital advisory, restructurings, shareholder advisory, sovereign advisory, capital raising and other strategic advisory matters, and

•

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

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

Basis of Presentation

The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s policy is to consolidate entities in which it has a controlling financial interest. The Company consolidates:

•

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

•

Variable interest entities (“VIEs”) where the Company is the primary beneficiary having the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of, or receive benefits from, the VIE that could be potentially significant to the VIE (see Note 23).

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 either (i) applies the equity method of accounting in which it records a proportionate share of the entity’s net earnings, or (ii) elects the option to measure its investment at fair value. Intercompany transactions and balances have been eliminated.

The 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 Lazard Frères Gestion SAS (“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.

Certain prior period amounts have been reclassified to conform to the current period presentation.

Revenue Recognition - Representation of Performance Obligations Relate to Nature, Amount, Timing and Uncertainty of Revenue and Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financial Advisory Segment [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	$ 1,352,168	$ 1,548,918
Asset Management Segment [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	1,237,390	1,331,801
Asset Management Segment [Member] \| Management Fees and Other [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	1,216,115	1,311,286
Asset Management Segment [Member] \| Incentive Fees [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	$ 21,275	$ 20,515

Commitments and Contingencies - Additional Information (Detail)	Dec. 31, 2019 USD ($)
LFB [Member]
Other Commitments [Line Items]
Guarantees indemnifications	$ 2,279,000
Collateral/counter-guarantees	2,279,000
Other commitments	0
LFNY [Member]
Other Commitments [Line Items]
Other commitments	$ 0

Other Assets and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Schedule of Other Assets

The following table sets forth the Company’s other assets, by type, as of December 31, 2019 and 2018:

	December 31,
	2019		2018
Current income and other tax receivables	$	58,355	$	35,269
Prepaid compensation (see Note 16)		74,597		76,362
Other advances and prepayments		43,042		66,248
Other		80,441		80,534
Total	$	256,435	$	258,413

Schedule of Other Liabilities

The following table sets forth the Company’s other liabilities, by type, as of December 31, 2019 and 2018:

	December 31,
	2019		2018
Accrued expenses	$	178,019	$	165,691
Current income taxes and other taxes		133,358		128,372
Employee benefit-related liabilities		51,370		51,051
Deferred lease liabilities		-		84,352
Unclaimed funds at LFB		17,405		17,746
Deferred revenue (a)		97,964		80,995
Contingent consideration liability		-		1,309
Securities sold, not yet purchased		12,894		3,929
Other		36,916		32,356
Total	$	527,926	$	565,801

(a)

Income Taxes - Summary of Changes in Deferred Tax Assets Valuation Allowance (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2016
Income Tax [Line Items]
Amount of unrecognized excess tax benefits offset by valuation allowance	$ 70,429	$ 67,997	$ 54,487		$ 55,194
Adjustments for New Accounting Principle [Member]
Income Tax [Line Items]
Amount of unrecognized excess tax benefits offset by valuation allowance			$ 12,090	$ 12,090

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

19.	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 its partners. Lazard Group, through its subsidiaries, is subject to state and local taxes on its income apportioned to various state and local jurisdictions. Outside the U.S., Lazard Group operates principally through subsidiary corporations that are subject to local income taxes in foreign jurisdictions. Lazard Group is also subject to Unincorporated Business Tax ("UBT") attributable to its operations apportioned to New York City.

On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was enacted. The Tax Act significantly revised the U.S. corporate income tax system by, among other changes, lowering the corporate income tax rate from 35% to 21%, implementing a partial territorial tax system and imposing a one-time repatriation tax on the deemed repatriated earnings of foreign subsidiaries. The Tax Act also included several provisions that limited the benefit of the tax rate reduction, such as restricting the deductibility of interest expense and other corporate business expenses. The Tax Act further included anti-base erosion provisions such as the base erosion and anti-abuse tax and tax on global intangible low-taxed income.

As a result of the reduction of the U.S. federal corporate tax rate to 21%, the Company was required to remeasure its deferred tax assets and liabilities at the new federal income tax rate of 21% based on the balances that existed on the date of the enactment of the Tax Act. The impact of the remeasurement was immaterial to the Company.

The Tax Act also required companies to pay a one-time repatriation tax on previously unremitted earnings of certain non-U.S. corporate subsidiaries. Most of the Company’s operations outside the U.S. are conducted in “pass-through” entities for U.S. income tax purposes, and, as a result, the deemed repatriation transition tax did not apply to these pass-through entities or their earnings. The Company instead provides for U.S. income taxes on a current basis for the relevant portion of those earnings. The Company also conducts operations outside the U.S. through foreign corporate subsidiaries. The impact of the one-time repatriation tax was immaterial to the Company.

In accordance with the guidance provided by Staff Accounting Bulletin No. 118, the Company recognized the provisional tax impact related to the one-time deemed repatriation tax on certain foreign earnings and the remeasurement of our deferred tax assets in the year ended December 31, 2017. In 2018, we finalized our analysis of the provisional items, including the one-time repatriation tax, and adjustments to previously recorded provisional amounts related to the Tax Act were not material to the Company’s consolidated financial statements.

On January 1, 2017, the Company adopted new accounting guidance on share-based incentive compensation. As a result of the adoption of this new guidance, the Company recognized excess tax benefits of approximately $5,000, $14,000 and $2,000 from the vesting of share-based incentive compensation in the provision for income taxes in the consolidated statements of operations for the years ended December 31, 2019, 2018, and 2017, respectively. The Company also recorded deferred tax assets of $4,945, net of a valuation allowance of $12,090, as of January 1, 2017, for previously unrecognized excess tax benefits (including tax benefits from dividends or dividend equivalents) on share-based incentive compensation, with an offsetting adjustment to retained earnings.

	Year Ended December 31,
	2019		2018			2017
Current:
Federal	$	3,871	$	1,569		$	774
Foreign		57,220		91,073			62,666
State and local		3,934		5,058			2,038
Total current		65,025		97,700			65,478
Deferred:
Federal		49		667			1,045
Foreign		225		(10,227	)		12,961
State and local		1,299		223			2,379
Total deferred		1,573		(9,337	)		16,385
Total	$	66,598	$	88,363		$	81,863

	Year Ended December 31,
	2019			2018			2017
U.S. federal statutory income tax rate		21.0	%		21.0	%		35.0	%
Rate benefit for U.S. Partnership operations		(21.0	)		(21.0	)		(35.0	)
Foreign taxes		11.9			12.0			12.1
State and local taxes		0.9			0.5			0.8
Uncertain tax positions		2.9			0.5			(0.3	)
Other		0.9			0.4			0.3
Effective income tax rate		16.6	%		13.4	%		12.9	%

See Note 22 regarding “operating income (loss)” by geographic region.

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

	December 31,
	2019			2018
Deferred Tax Assets:
Basis adjustments (a)	$	2,218		$	5,334
Compensation and benefits		63,057			60,185
Net operating loss and tax credit carryforwards		62,629			66,962
Depreciation and amortization		6,028			1,637
Other		5,523			10,024
Gross deferred tax assets		139,455			144,142
Valuation allowance		(70,429	)		(67,997	)
Deferred tax assets (net of valuation allowance)		69,026			76,145
Deferred Tax Liabilities:
Depreciation and amortization		6,175			1,478
Compensation and benefits		7,058			9,806
Goodwill		255			480
Other		3,307			14,878
Deferred tax liabilities		16,795			26,642
Net deferred tax assets	$	52,231		$	49,503

(a)	The basis adjustments recorded as of December 31, 2019 and 2018 are primarily the result of additional basis from acquisitions of interests.

The historical profitability of each tax paying entity is an important factor in determining whether to record a valuation allowance and when to release any such allowance. Certain of our tax-paying entities have individually experienced losses on a cumulative three year basis or have tax attributes that may expire unused. In addition, one of our tax paying entities has recorded a valuation allowance on substantially all of its deferred tax assets due to the combined effect of operating losses in certain subsidiaries of that entity as well as foreign taxes that together substantially offset any U.S. tax liability. Taking into account all available information, we cannot determine that it is more likely than not that deferred tax assets held by these entities will be realized. Consequently, we have recorded valuation allowances on $70,429 and $67,997 of deferred tax assets held by these entities as of December 31, 2019 and 2018, respectively.

Changes in the deferred tax assets valuation allowance for the years ended December 31, 2019, 2018 and 2017 was as follows:

	Year Ended December 31,
	2019			2018			2017
Beginning Balance	$	67,997		$	54,487		$	55,194
Charged (credited) to provision for income taxes		2,575			15,789			(15,998	)
Charged (credited) to other comprehensive income and other (a)		(143	)		(2,279	)		15,291
Ending Balance	$	70,429		$	67,997		$	54,487

(a)	In accordance with the accounting guidance described above, 2017 includes recognition of previously unrecognized excess tax benefits offset by a valuation allowance of $12,090 recorded to retained earnings.

The Company had net operating loss and tax credit carryforwards for which related deferred tax assets of $62,629 were recorded at December 31, 2019 primarily relating to:

(i)

indefinite-lived carryforwards (subject to various limitations) of approximately $21,000 in Australia, Germany, Hong Kong, and Singapore; and

(ii)

certain carryforwards of approximately $36,000 in the U.S., which begin expiring in 2024.

With few exceptions, the Company is no longer subject to income tax examination by foreign tax authorities and by U.S. federal, state and local tax authorities for years prior to 2014. While we are under examination in various tax jurisdictions with respect to certain open years, the Company does not expect that the result of any final determination related to these examinations will have a material impact on its financial statements. Developments with respect to such examinations are monitored on an ongoing basis and adjustments to tax liabilities are made as appropriate.

A reconciliation of the beginning to the ending amount of gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2019, 2018 and 2017 is as follows:

	Year Ended December 31,
	2019			2018			2017
Balance, January 1 (excluding interest and penalties of $15,830, $15,136 and $15,392, respectively)	$	47,674		$	47,426		$	47,901
Increases in gross unrecognized tax benefits relating to tax positions taken during:
Prior years		11,764			652			1,598
Current year		16,795			11,960			12,608
Decreases in gross unrecognized tax benefits relating to:
Tax positions taken during prior years		(19	)		(699	)		(2,961	)
Settlements with tax authorities		(7,251	)		(1,218	)		-
Lapse of the applicable statute of limitations		(8,125	)		(10,447	)		(11,720	)
Balance, December 31 (excluding interest and penalties of $18,161, $15,830 and $15,136, respectively)	$	60,838		$	47,674		$	47,426

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

	Year Ended December 31,
	2019		2018		2017
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $18,161, $15,830 and $15,136, respectively)	$	65,193	$	53,854	$	52,007
Unrecognized tax benefits that, if recognized, would not affect the effective tax rate	$	13,806	$	9,650	$	10,555
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $3,455, $4,889 and $6,185, respectively)	$	2,331	$	694	$	(256	)

The Company anticipates that it is reasonably possible that approximately $8,100 of unrecognized tax benefits, including interest and penalties recorded at December 31, 2019, may be recognized within 12 months as a result of the lapse of the statute of limitations in various tax jurisdictions.

Incentive Plans - Summary of Activity Relating to PIPRs , including PRPUs (Detail) - Profits Interest Participation Rights, Including PRPUs [Member]	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Granted \| shares	1,462,702
Units, Ending Balance \| shares	1,462,702
Weighted Average Grant Date Fair Value, Granted \| $ / shares	$ 38.65
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 38.65

Supplemental Financial Information - Quarterly Results - Schedule of Quarterly Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]
Net revenue	$ 720,523	$ 588,018	$ 628,150	$ 626,002	$ 683,949	$ 625,012	$ 754,639	$ 753,261	$ 2,562,693	$ 2,816,861	$ 2,639,597
Operating expenses	589,623	535,200	520,537	517,139	538,164	490,280	562,825	566,309	2,162,499	2,157,578	2,005,844
Operating Income	130,900	52,818	107,613	108,863	145,785	134,732	191,814	186,952	400,194	659,283	633,753
Net income	106,999	43,385	90,337	92,875	132,875	109,339	160,369	168,337	333,596	570,920	551,890
Less - net income attributable to noncontrolling interests	2,554	1,492	7,736	(566)	286	1,652	1,416	1,969	11,216	5,323	6,263
Net income attributable to Lazard Group	$ 104,445	$ 41,893	$ 82,601	$ 93,441	$ 132,589	$ 107,687	$ 158,953	$ 166,368	$ 322,380	$ 565,597	$ 545,627

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Income Taxes - Schedule of Additional Information Relating to Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at the end of the year that, if recognized, would favorably affect the effective tax rate (includes interest and penalties of $18,161, $15,830 and $15,136, respectively)	$ 65,193	$ 53,854	$ 52,007
Unrecognized tax benefits that, if recognized, would not affect the effective tax rate	13,806	9,650	10,555
Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $3,455, $4,889 and $6,185, respectively)	$ 2,331	$ 694	$ (256)

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Significant Accounting Policies [Line Items]
Foreign currency remeasurement gains (losses), net of hedge transactions	$ 3,665	$ (2,206)	$ 1,876
Depreciation and amortization expense	35,260	33,778	31,491
Amount of research and other eligible services received through soft dollar arrangements	$ 25,000
Operating Segments [Member] \| Financial Advisory Segment [Member]
Significant Accounting Policies [Line Items]
Fees receivable outstanding past due	60 days from the date of invoice
Contractual payment term description relating to our interest-bearing financing receivables	Financial Advisory transactions include specific contractual payment terms that may vary from one month to four years (as is the case for our interest-bearing financing receivables) following the invoice date or may be subject to court approval (as is the case with bankruptcy-related restructuring assignments). In such cases, receivables are deemed past due when payment is not received by the agreed-upon contractual date or the court approval date, respectively.
Period receivables past due in excess of 180 days are fully provided unless there is evidence that the balance is collectible	180 days
Depreciation and amortization expense	$ 5,180	7,395	6,589
Operating Segments [Member] \| Asset Management Segment [Member]
Significant Accounting Policies [Line Items]
Fees receivable outstanding past due	12 months after the invoice date
Depreciation and amortization expense	$ 2,995	$ 3,253	$ 2,830

Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

17.	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”). The Company also offers defined contribution plans to its employees. The pension 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 for the service cost component, and “operating expenses-other” for the other components of benefit costs 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 expects to contribute approximately $1,000 to the U.S. pension plan during the year ending December 31, 2020 and approximately $5,000 to the other non-U.S. pension plans during the year ending December 31, 2020.

	Pension Plans
	2019			2018
Change in benefit obligation
Benefit obligation at beginning of year	$	655,015		$	763,831
Service cost		815			884
Interest cost		15,350			15,569
Amendments		-			3,196
Actuarial (gain) loss		89,242			(27,623	)
Benefits paid		(30,817	)		(64,747	)
Foreign currency translation and other adjustments		15,100			(36,095	)
Benefit obligation at end of year		744,705			655,015
Change in plan assets
Fair value of plan assets at beginning of year		642,837			728,281
Actual return on plan assets		74,844			(10,608	)
Employer contributions		5,623			22,153
Benefits paid		(30,760	)		(62,056	)
Foreign currency translation and other adjustments		18,048			(34,933	)
Fair value of plan assets at end of year		710,592			642,837
Funded (deficit) at end of year	$	(34,113	)	$	(12,178	)
Amounts recognized in the consolidated statements of financial condition at December 31, 2019 and 2018 consist of:
Prepaid pension asset (included in “other assets”)	$	2,922		$	19,573
Accrued benefit liability (included in “other liabilities”)		(37,035	)		(31,751	)
Net amount recognized	$	(34,113	)	$	(12,178	)
Amounts recognized in AOCI (excluding tax benefits of $38,327 and $31,080 at December 31, 2019 and 2018, respectively) consist of:
Actuarial net loss (gain)	$	211,197		$	173,732
Prior service cost (credit)		3,165			3,178
Net amount recognized	$	214,362		$	176,910

The following table summarizes the fair value of plan assets, the accumulated benefit obligation and the projected benefit obligation at December 31, 2019 and 2018:

	U.S. Pension Plans				Non-U.S. Pension Plans				Total
	As Of December 31,				As Of December 31,				As Of December 31,
	2019		2018		2019		2018		2019		2018
Fair value of plan assets	$	22,914	$	20,813	$	687,678	$	622,024	$	710,592	$	642,837
Accumulated benefit obligation	$	32,314	$	28,869	$	712,391	$	626,146	$	744,705	$	655,015
Projected benefit obligation	$	32,314	$	28,869	$	712,391	$	626,146	$	744,705	$	655,015

	Pension Plans
	For The Year Ended
	December 31,
	2019			2018			2017
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	815		$	884		$	1,413
Interest cost		15,350			15,569			16,240
Expected return on plan assets		(27,470	)		(29,622	)		(25,300	)
Amortization of:
Prior service cost		110			18			30
Net actuarial loss (gain)		5,025			11,840			10,141
Settlement loss (gain)		749			1,212			807
Net periodic benefit cost (credit)	$	(5,421	)	$	(99	)	$	3,331


Actual return on plan assets	$	74,844		$	(10,608	)	$	43,624
Employer contributions	$	5,623		$	22,153		$	16,844
Benefits paid	$	30,760		$	62,056		$	42,022
Other changes in plan assets and benefit obligations recognized in AOCI (excluding tax expense (benefit) of $(7,247), $1,589 and $(1,255), during the years ended December 31, 2019, 2018 and 2017, respectively):
Net actuarial (gain) loss	$	40,311		$	11,073		$	(17,357	)
Prior service cost (credit)		-			3,196			-
Reclassification of prior service (cost) credit to earnings		(110	)		(18	)		(30	)
Reclassification of actuarial gain (loss) to earnings		(5,774	)		(13,052	)		(10,141	)
Currency translation and other adjustments		3,025			(8,424	)		18,778
Total recognized in AOCI	$	37,452		$	(7,225	)	$	(8,750	)
Net amount recognized in total periodic benefit cost and AOCI	$	32,031		$	(7,324	)	$	(5,419	)

Pension

Plans

Net actuarial loss

6,555

Prior service cost

114

	Pension Plans
	December 31,
	2019			2018			2017
Weighted average assumptions used to determine benefit obligations:
Discount rate		1.8	%		2.6	%		2.3	%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate		2.2	%		2.4	%		2.2	%
Expected long-term rate of return on plan assets		4.4	%		4.4	%		3.8	%

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

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

	Pension
	Plans
2020	$	25,184
2021		27,505
2022		28,771
2023		29,269
2024		30,938
2025-2029		156,960

	As of December 31, 2019
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Cash	$	11,742	$	-	$	-	$	-	$	11,742
Debt		77,940		-		-		-		77,940
Equities		37,898		-		-		-		37,898
Funds:
Alternative investments		-		-		-		26,692		26,692
Debt		8,828		81,898		-		269,183		359,909
Equity		183,727		4,697		-		6,442		194,866
Derivatives		-		1,545		-		-		1,545
Total	$	320,135	$	88,140	$	-	$	302,317	$	710,592

	As of December 31, 2018
	Level 1		Level 2		Level 3		NAV (a)		Total
Assets:
Cash	$	6,619	$	-	$	-	$	-	$	6,619
Debt		81,533		-		-		-		81,533
Equities		27,585		-		-		-		27,585
Funds:
Alternative investments		-		-		-		29,975		29,975
Debt		10,593		-		-		322,739		333,332
Equity		151,199		5,572		-		6,031		162,802
Derivatives		-		991		-		-		991
Total	$	277,529	$	6,563	$	-	$	358,745	$	642,837

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

Included in equity funds are $99,671 and $87,129 as of December 31, 2019 and 2018, respectively, that are invested in funds managed by the Company.

Consistent with the plans’ investment strategies, at December 31, 2019 and 2018, the Company’s U.S. pension plan had 60% and 49%, respectively, of the plans’ assets invested in equity funds in Level 1 and measured at NAV or its equivalent as a practical expedient, 39% and 51%, respectively, invested in Level 1 debt funds and at December 31, 2019, 1% invested in cash, which is a Level 1 asset. The Company’s non-U.S. pension plans at December 31, 2019 and 2018 had 32% and 29%, respectively, of the plans’ assets invested in equities and equity funds that are primarily Level 1 and Level 2 assets; 62% and 65%, respectively, of the plans’ assets invested in debt and debt funds that are Level 1 and Level 2 assets or measured at NAV or its equivalent as a practical expedient, and 6% and 6%, respectively, of the plans’ assets invested in cash, which is a Level 1 asset, or in alternative investment funds that are primarily measured at NAV.

Investment Policies and Strategies—The primary investment goal is to ensure that the pension plans remain well funded, taking account of the likely future risks to investment returns and contributions. As a result, a portfolio of assets is maintained with appropriate liquidity and diversification that can be expected to generate long-term future returns that minimize the long-term costs of the pension plans without exposing the plans to an unacceptable risk of under-funding. The Company’s likely future ability to pay such contributions as are required to maintain the

funded status of the plans over a reasonable time period is considered when determining the level of risk that is appropriate. The fair value of plan investments classified as Level 1 assets are based on market quotes. The fair value of plan investments measured at NAV or its equivalent as a practical expedient is determined based on information provided by external fund administrators and such investments are redeemable in the near term.

Defined Contribution Plans—Pursuant to certain matching contributions, the Company contributes to employer sponsored defined contribution plans. Such contributions amounted to $16,905, $15,765 and $15,064 for the years ended December 31, 2019, 2018 and 2017, respectively, which are included in “compensation and benefits” expense on the consolidated statements of operations.

Members' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	$ (26,461)	$ (44,139)	$ 67,570
Adjustments for items reclassified to earnings, net of tax	4,717	10,735	7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(21,744)	(33,404)	75,521
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(82,829)	(43,790)	(109,306)
Other comprehensive income (loss) before reclassifications	8,460	(39,039)	65,516
Adjustments for items reclassified to earnings, net of tax		0
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	8,460	(39,039)	65,516
Balance	(74,369)	(82,829)	(43,790)
Employee Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(145,831)	(151,466)	(161,471)
Other comprehensive income (loss) before reclassifications	(34,921)	(5,100)	2,054
Adjustments for items reclassified to earnings, net of tax	4,717	10,735	7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(30,204)	5,635	10,005
Balance	(176,035)	(145,831)	(151,466)
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(2)
Other comprehensive income (loss) before reclassifications			2
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX			2
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(228,660)	(195,256)	(270,775)
Other comprehensive income (loss) before reclassifications	(26,461)	(44,139)	67,568
Adjustments for items reclassified to earnings, net of tax	4,717	10,735	7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(21,744)	(33,404)	75,519
Balance	(250,404)	(228,660)	(195,256)
Total AOCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(228,660)	(195,256)	(270,777)
Balance	$ (250,404)	$ (228,660)	$ (195,256)

Income Taxes - Summary of Changes in Deferred Tax Assets Valuation Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Beginning Balance	$ 67,997	$ 54,487	$ 55,194
Charged (credited) to provision for income taxes	2,575	15,789	(15,998)
Charged (credited) to other comprehensive income and other	(143)	(2,279)	15,291
Ending Balance	$ 70,429	$ 67,997	$ 54,487

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Tax benefit on prior service costs, employee benefit plans	$ 17	$ 543
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	(8,396)	(203)	$ (3,475)
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ (1,167)	$ (2,335)	$ (2,220)

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Fees receivable	$ 537,342	$ 499,068
Investment Banking and Other Advisory Fees [Member]
Related Party Transaction [Line Items]
Revenue	1,349,548	1,547,506	$ 1,384,671
Investment Banking and Other Advisory Fees [Member] \| Board Of Directors Or Management Capacity [Member]
Related Party Transaction [Line Items]
Revenue	9,000
Lazard Ltd Subsidiaries [Member]
Related Party Transaction [Line Items]
Interest income related to interest-bearing loans	90	452	165
Notes payable related parties current and noncurrent	57,160	60,875
Interest expense related to interest-bearing loans with subsidiaries	3,573	3,687	3,835
Sponsored Funds [Member]
Related Party Transaction [Line Items]
Revenue	$ 587,665	$ 654,561	$ 649,089
Type of Revenue [Extensible List]	us-gaap:AssetManagement1Member	us-gaap:AssetManagement1Member	us-gaap:AssetManagement1Member
Fees receivable	$ 54,561	$ 59,304

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

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

	December 31, 2019
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Debt	$	100,000	$	-	$	-	$	-	$	100,000
Equities		46,921		-		1,600		-		48,521
Funds:
Alternative investments		15,731		-		-		850		16,581
Debt		113,574		-		-		5		113,579
Equity		218,393		-		-		42		218,435
Private equity		-		-		1,371		32,991		34,362
Derivatives		-		1,395		-		-		1,395
Total	$	494,619	$	1,395	$	2,971	$	33,888	$	532,873
Liabilities:
Securities sold, not yet purchased	$	12,894	$	-	$	-	$	-	$	12,894
Derivatives		-		236,273		-		-		236,273
Total	$	12,894	$	236,273	$	-	$	-	$	249,167

	December 31, 2018
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Debt	$	202,874	$	-	$	-	$	-	$	202,874
Equities		30,639		-		1,622		-		32,261
Funds:
Alternative investments		16,863		-		-		889		17,752
Debt		90,313		-		-		7		90,320
Equity		175,054		-		-		34		175,088
Private equity		-		-		-		56,343		56,343
Derivatives		-		11,967		-		-		11,967
Total	$	515,743	$	11,967	$	1,622	$	57,273	$	586,605
Liabilities:
Securities sold, not yet purchased	$	3,929	$	-	$	-	$	-	$	3,929
Contingent consideration liability		-		-		1,309		-		1,309
Derivatives		-		188,962		-		-		188,962
Total	$	3,929	$	188,962	$	1,309	$	-	$	194,200

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

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the years ended December 31, 2019, 2018 and 2017:

	Year Ended December 31, 2019
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)			Purchases/ Acquisitions/ Transfers (b)		Sales/ Dispositions/ Settlements		Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	1,622	$	(21	)	$	-	$	-	$	(1	)	$	1,600
Private equity funds		-		(760	)		2,131		-		-			1,371
Total Level 3 Assets	$	1,622	$	(781	)	$	2,131	$	-	$	(1	)	$	2,971

Liabilities:
Contingent consideration liability	$	1,309	$	(1,309	)	$	-	$	-	$	-		$	-
Total Level 3 Liabilities	$	1,309	$	(1,309	)	$	-	$	-	$	-		$	-

	Year Ended December 31, 2018
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)			Purchases/ Acquisitions		Sales/ Dispositions/ Settlements		Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	1,592	$	61		$	1	$	-	$	(32	)	$	1,622
Total Level 3 Assets	$	1,592	$	61		$	1	$	-	$	(32	)	$	1,622

Liabilities:
Contingent consideration liability	$	4,656	$	(3,347	)	$	-	$	-	$	-		$	1,309
Total Level 3 Liabilities	$	4,656	$	(3,347	)	$	-	$	-	$	-		$	1,309

	Year Ended December 31, 2017
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)		Purchases/ Acquisitions		Sales/ Dispositions/ Settlements			Foreign Currency Translation Adjustments		Ending Balance
Assets:
Investments:
Equities	$	1,508	$	14	$	1,661	$	(1,669	)	$	78	$	1,592
Total Level 3 Assets	$	1,508	$	14	$	1,661	$	(1,669	)	$	78	$	1,592

Liabilities:
Contingent consideration liability	$	3,364	$	1,292	$	-	$	-		$	-	$	4,656
Total Level 3 Liabilities	$	3,364	$	1,292	$	-	$	-		$	-	$	4,656

(a)

(b)	Certain investments that were valued at NAV as of December 31, 2018 were transferred to Level 3 during the year ended December 31, 2019 as these investments are valued based on a potential transaction value that differs from NAV.

Financial Instruments Not Measured at Fair Value

	December 31, 2019
			Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	1,164,135	$	1,164,135	$	1,164,135	$	-	$	-
Deposits with banks and short-term investments		1,180,686		1,180,686		1,180,686		-		-
Cash deposited with clearing organizations and other segregated cash		43,280		43,280		43,280		-		-
Interest-bearing financing receivables		77,052		78,940		-		-		78,940
Interest-bearing deposits (included within investments)		517		517		517		-		-
Financial Liabilities:
Deposits and other customer payables	$	1,246,200	$	1,246,200	$	1,246,200	$	-	$	-
Senior debt		1,679,562		1,838,716		-		1,838,716		-

	December 31, 2018
			Fair Value Measurements Using:
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	1,185,040	$	1,185,040	$	1,185,040	$	-	$	-
Deposits with banks and short-term investments		1,006,969		1,006,969		1,006,969		-		-
Cash deposited with clearing organizations and other segregated cash		38,379		38,379		38,379		-		-
Interest-bearing financing receivables		90,966		91,765		-		-		91,765
Interest-bearing deposits (included within investments)		510		510		510		-		-
Financial Liabilities:
Deposits and other customer payables	$	1,154,208	$	1,154,208	$	1,154,208	$	-	$	-
Senior debt		1,434,260		1,429,280		-		1,429,280		-

Fair Value of Certain Investments Based on NAV

The following tables present, at December 31, 2019 and 2018, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:

December 31, 2019

Estimated Liquidation Period of

Investments Not Redeemable

Investments

Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

5 Years

5-10

Years

Thereafter

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

241

(a)

30-60 days

Other

609

(b)

<30-30 days

Debt funds

(c)

<30 days

Equity funds

(d)

<30-60 days

Private equity funds:

Equity growth

32,991

6,056

(e)

100

Total

33,888

6,056

(a)	monthly (52%) and quarterly (48%)

(b)	daily (6%) and monthly (94%)

(c)	daily (100%)

(d)	monthly (34%) and annually (66%)

(e)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $11,155 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

December 31, 2018

Estimated Liquidation Period of

Investments Not Redeemable

Investments

Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

5 Years

5-10

Years

Thereafter

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

299

(a)

30-60 days

Funds of funds

(b)

>90 days

Other

567

(c)

<30-30 days

Debt funds

(d)

<30 days

Equity funds

(e)

<30-90 days

Private equity funds:

Equity growth

56,343

8,338

(f)

100

Total

57,273

8,338

(a)	monthly (100%)

(b)	quarterly (100%)

(c)	daily (6%) and monthly (94%)

(d)	daily (100%)

(e)	daily (25%), monthly (70%) and annually (5%)

(f)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $14,437 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

Schedule I - Condensed Statements of Comprehensive Income (Parent Company Only) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
NET INCOME	$ 104,445	$ 41,893	$ 82,601	$ 93,441	$ 132,589	$ 107,687	$ 158,953	$ 166,368	$ 322,380	$ 565,597	$ 545,627
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments									8,460	(39,039)	65,516
Employee benefit plans:
Prior service costs (net of tax benefit of $17 and $543 for the years ended December 31, 2019 and 2018, respectively)									(84)	(2,653)
Actuarial gain (loss) (net of tax benefit of $8,396, $203 and $3,475 for the years ended December 31, 2019, 2018 and 2017, respectively)									(34,837)	(2,447)	2,054
Adjustment for items reclassified to earnings (net of tax expense of $1,167, $2,335 and $2,220 for the years ended December 31, 2019, 2018 and 2017, respectively)									4,717	10,735	7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX									(21,744)	(33,404)	75,521
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD GROUP LLC									300,636	532,193	621,146
Parent Company [Member]
NET INCOME									322,380	565,597	545,627
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments									8,460	(39,039)	65,514
Employee benefit plans:
Prior service costs (net of tax benefit of $17 and $543 for the years ended December 31, 2019 and 2018, respectively)									(84)	(2,653)
Actuarial gain (loss) (net of tax benefit of $8,396, $203 and $3,475 for the years ended December 31, 2019, 2018 and 2017, respectively)									(34,837)	(2,447)	2,054
Adjustment for items reclassified to earnings (net of tax expense of $1,167, $2,335 and $2,220 for the years ended December 31, 2019, 2018 and 2017, respectively)									4,717	10,735	7,951
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX									(21,744)	(33,404)	75,519
COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD GROUP LLC									$ 300,636	$ 532,193	$ 621,146

Employee Benefit Plans - Summary of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in benefit obligation
Benefit obligation at beginning of year	$ 655,015
Benefit obligation at end of year	744,705	$ 655,015
Change in plan assets
Fair value of plan assets at beginning of year	642,837
Fair value of plan assets at end of year	710,592	642,837
Pension Plans [Member]
Change in benefit obligation
Benefit obligation at beginning of year	655,015	763,831
Service cost	815	884	$ 1,413
Interest cost	15,350	15,569	16,240
Amendments	0	3,196
Actuarial (gain) loss	89,242	(27,623)
Benefits paid	(30,817)	(64,747)
Foreign currency translation and other adjustments	15,100	(36,095)
Benefit obligation at end of year	744,705	655,015	763,831
Change in plan assets
Fair value of plan assets at beginning of year	642,837	728,281
Actual return on plan assets	74,844	(10,608)	43,624
Employer contributions	5,623	22,153	16,844
Benefits paid	(30,760)	(62,056)	(42,022)
Foreign currency translation and other adjustments	18,048	(34,933)
Fair value of plan assets at end of year	710,592	642,837	$ 728,281
Funded (deficit) at end of year	(34,113)	(12,178)
Prepaid pension asset (included in “other assets”)	2,922	19,573
Accrued benefit liability (included in “other liabilities”)	(37,035)	(31,751)
Net amount recognized	(34,113)	(12,178)
Actuarial net loss (gain)	211,197	173,732
Prior service cost (credit)	3,165	3,178
Net amount recognized	$ 214,362	$ 176,910

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

22.	SEGMENT INFORMATION

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

The Company’s segment information for the years ended December 31, 2019, 2018 and 2017 is prepared using the following methodology:

•

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

•

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

•

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

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

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

For the years ended December 31, 2019, 2018 and 2017, no individual client constituted more than 10% of the net revenue of any of the Company’s business segments.

		As of or for the Year Ended December 31,
		2019			2018			2017
Financial Advisory	Net Revenue	$	1,352,168		$	1,548,918		$	1,386,688
	Operating Expenses (a)/(b)		1,196,906			1,206,511			1,130,186
	Operating Income	$	155,262		$	342,407		$	256,502
	Total Assets	$	1,113,266		$	829,898		$	817,185
Asset Management	Net Revenue	$	1,237,390		$	1,331,801		$	1,255,820
	Operating Expenses (a)/(b)		887,522			912,110			810,870
	Operating Income	$	349,868		$	419,691		$	444,950
	Total Assets	$	821,641		$	728,220		$	756,398
Corporate	Net Revenue	$	(26,865	)	$	(63,858	)	$	(2,911	)
	Operating Expenses (a)/(b)		78,071			38,957			64,788
	Operating Loss	$	(104,936	)	$	(102,815	)	$	(67,699	)
	Total Assets	$	3,116,721		$	2,831,357		$	2,726,990
Total	Net Revenue	$	2,562,693		$	2,816,861		$	2,639,597
	Operating Expenses (a)/(b)		2,162,499			2,157,578			2,005,844
	Operating Income	$	400,194		$	659,283		$	633,753
	Total Assets	$	5,051,628		$	4,389,475		$	4,300,573

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

	Year Ended December 31,
	2019		2018		2017
Financial Advisory	$	5,180	$	7,395	$	6,589
Asset Management		2,995		3,253		2,830
Corporate		27,085		23,130		22,072
Total	$	35,260	$	33,778	$	31,491

(b)	See Note 18 for information regarding business realignment.

Geographic Information

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

	As of or for the Year Ended December 31,
	2019		2018		2017
Net Revenue:
Americas	$	1,519,983	$	1,606,245	$	1,553,356
EMEA		873,007		1,022,994		903,525
Asia Pacific		169,703		187,622		182,716
Total	$	2,562,693	$	2,816,861	$	2,639,597
Operating Income:
Americas	$	249,488	$	412,628	$	404,351
EMEA		120,481		206,578		193,781
Asia Pacific		30,225		40,077		35,621
Total	$	400,194	$	659,283	$	633,753
Identifiable Assets:
Americas	$	2,320,957	$	1,950,138	$	1,972,308
EMEA		2,437,804		2,150,597		2,039,385
Asia Pacific		292,867		288,740		288,880
Total	$	5,051,628	$	4,389,475	$	4,300,573

Incentive Plans - Summary of Activity Relating to PRSUs (Detail) - PRSUs [Member]	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance \| shares	1,771,795
Units, Earned \| shares	196,991
Units, Settled \| shares	(1,171,081)
Units, Ending Balance \| shares	797,705
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 38.66
Weighted Average Grant Date Fair Value, Earned \| $ / shares	38.09
Weighted Average Grant Date Fair Value, Settled \| $ / shares	32.44
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 47.65

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2020	$ 1,558
2021	60
2022	60
2023	60
2024	30
Total amortization expense	$ 1,768

Business Realignment Activities - Activity Related to the Obligations Pursuant to Business Realignment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
New charges	$ 67,810
Non-cash charges	(22,052)
Payments	(20,480)
Balance, December 31, 2019	25,278
Accrued Compensation and Benefits [Member]
New charges	56,635
Non-cash charges	(16,596)
Payments	(19,829)
Balance, December 31, 2019	20,210
Other Liabilities [Member]
New charges	11,175
Non-cash charges	(5,456)
Payments	(651)
Balance, December 31, 2019	$ 5,068

Property (Tables)

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Components of Property

At December 31, 2019 and 2018, property consisted of the following:

	Estimated
	Depreciable		December 31,
	Life in Years		2019		2018
Buildings		33	$	142,298	$	145,034
Leasehold improvements	3-20			196,277		187,930
Furniture and equipment	3-10			214,700		204,057
Construction in progress				32,476		14,140
Total				585,751		551,161
Less - Accumulated depreciation and amortization				366,880		339,448
Property			$	218,871	$	211,713

Leases - Summary of Maturities of Operating Lease Liabilities Outstanding (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2020	$ 88,933
2021	84,485
2022	67,618
2023	62,647
2024	61,417
Thereafter	428,409
Total lease payments	793,509
Less - Discount	149,701
Operating lease liabilities	$ 643,808	$ 581,000

Members' Equity - Schedule of Shares Repurchased Under the Share Repurchase Program (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Repurchase Program [Abstract]
Number of Shares Purchased	13,674,439	12,206,652	6,956,097
Average Price Per Share	$ 36.18	$ 45.29	$ 44.10

Investments - Additional Information (Detail)	12 Months Ended
Investments - Additional Information (Detail)	Dec. 31, 2019
Minimum [Member] \| Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Deposits maturity period	3 months
Minimum [Member] \| Debt [Member] \| U.S. Treasury Securities [Member]
Schedule of Investments [Line Items]
US Treasury securities maturity period	3 months
Maximum [Member] \| Interest-bearing Deposits [Member]
Schedule of Investments [Line Items]
Deposits maturity period	1 year
Maximum [Member] \| Debt [Member] \| U.S. Treasury Securities [Member]
Schedule of Investments [Line Items]
US Treasury securities maturity period	1 year

Members' Equity - Adjustments for Items Reclassified Out of AOCI (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	$ 4,717	$ 10,735	$ 7,951
Employee Benefit Plans [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization relating to employee benefit plans	5,884	13,070	10,171
Less - related income taxes	1,167	2,335	2,220
Total reclassifications, net of tax	$ 4,717	$ 10,735	$ 7,951

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Organization

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

•

Basis of Presentation

•

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

•

Certain prior period amounts have been reclassified to conform to the current period presentation.

Foreign Currency Translation

Foreign Currency Translation—The consolidated financial statements are presented in U.S. Dollars. Many of the Company’s non-U.S. subsidiaries have a functional currency (i.e., the currency in which operational activities are primarily conducted) that is other than the U.S. Dollar, generally the currency of the country in which such subsidiaries are domiciled. Such subsidiaries’ assets and liabilities are translated into U.S. Dollars at year-end exchange rates, while revenue and expenses are translated at average exchange rates during the year based on the daily closing exchange rates. Adjustments that result from translating amounts from a subsidiary’s functional currency to U.S. Dollars are reported in “accumulated other comprehensive income (loss), net of tax” (“AOCI”). Foreign currency remeasurement gains and losses on transactions in non-functional currencies are included on the consolidated statements of operations. Foreign currency remeasurement gains (losses), net of hedge transactions (see Note 8) amounted to $3,665, $(2,206) and $1,876 for the years ended December 31, 2019, 2018 and 2017, respectively, and are included in “revenue-other” on the respective consolidated statements of operations.

Use of Estimates

Use of Estimates—The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of management’s estimates. In preparing the consolidated financial statements, management makes estimates and assumptions regarding:

•

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

•

the assessment of probability with respect to recognizing revenue;

•

the discount rate used to measure operating lease right-of-use assets and operating lease liabilities;

•

the adequacy of the allowance for doubtful accounts;

•

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

•

the outcome of litigation;

•

the carrying amount of goodwill and other intangible assets;

•

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

•

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

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

Cash and Cash Equivalents

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

Deposits with Banks and Short-Term Investments

Deposits with Banks and Short-Term Investments—Represents LFB’s short-term deposits, including with the Banque de France and amounts placed by LFB in short-term, highly liquid securities with original maturities of 90 days or less when purchased. The level of these deposits and investments may be driven by the level of LFB time and demand deposits (which can fluctuate significantly on a daily basis) and by changes in asset allocation.

Cash Deposited with Clearing Organizations and Other Segregated Cash

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

Allowance for Doubtful Accounts

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

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

See Note 5 for additional information regarding receivables.

Investments

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

Investments also include interests in alternative investment funds and private equity funds, each accounted for at fair value. Any increases or decreases in the carrying value of those investments accounted for at fair value are reflected in “revenue-other” in the consolidated statements of operations.

Dividend income is reflected in “revenue-other” in the consolidated statements of operations. Securities transactions and the related revenue and expenses are recorded on a “trade date” basis.

See Notes 6 and 7 for additional information regarding the Company’s investments.

Property-net

Property-net—Property is stated at cost less accumulated depreciation and amortization. Buildings are depreciated on a straight-line basis over their estimated useful lives. Leasehold improvements are capitalized and are amortized over the lesser of the economic useful life of the improvement or the term of the lease. Depreciation of furniture and equipment, including computer hardware and software, is determined on a straight-line basis using estimated useful lives. Depreciation and amortization expense aggregating $35,260, $33,778 and $31,491 for the years ended December 31, 2019, 2018 and 2017, respectively, is included on the respective consolidated statements of operations in “occupancy and equipment” or “technology and information services”, depending on the nature of the underlying asset. Repairs and maintenance are expensed as incurred.

Operating Lease Right-of-use Assets and Operating Lease Liabilities

Operating Lease Right-of-use Assets and Operating Lease Liabilities—See Notes 3 and 10.

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets—As goodwill has an indefinite life, it is required to be tested for impairment annually, as of November 1, or more frequently if circumstances indicate impairment may have occurred. The Company performs a qualitative evaluation about whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount in lieu of actually calculating the fair value of the reporting unit.

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

See Note 11 with respect to goodwill and other intangible assets.

Derivative Instruments

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

The Company enters into forward foreign currency exchange rate contracts, interest rate swaps, interest rate futures, total return swap contracts on various equity and debt indices and other derivative contracts to economically hedge exposures to fluctuations in currency exchange rates, interest rates and equity and debt prices. The Company reports its derivative instruments separately as assets and liabilities unless a legal right of set-off exists under a master netting agreement enforceable by law. The Company’s derivative instruments are recorded at their fair value, and are included in “other assets” and “other liabilities” on the consolidated statements of financial condition. Gains and losses on the Company’s derivative instruments are generally included in “interest income” and “interest expense”, respectively, or “revenue-other”, depending on the nature of the underlying item, in the consolidated statements of operations.

In addition to the derivative instruments described above, the Company records derivative liabilities relating to its obligations pertaining to Lazard Fund Interests (“LFI”) and other similar deferred compensation arrangements, the fair value of which is based on the value of the underlying investments, adjusted for estimated forfeitures, and is included in “accrued compensation and benefits” in the 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 LFI and other similar deferred compensation arrangements, which are reported in “revenue-other” in the consolidated statements of operations. For information regarding LFI and other similar deferred compensation arrangements, see Notes 6, 8 and 16.

Deposits and Other Customer Payables

Deposits and Other Customer Payables—Principally relates to LFB customer-related demand deposits.

Securities Sold, Not Yet Purchased

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

Contingent Consideration Liabilities

Contingent Consideration Liabilities —The contingent consideration liabilities of businesses acquired in a business combination are initially recorded at fair value, and any change in the fair value is recognized in “amortization and other acquisition-related (benefits) costs” in the consolidated statements of operations. The contingent consideration liability is included in “other liabilities” on the consolidated statements of financial condition.

Fair Value of Financial Assets and Liabilities

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

Revenue Recognition

Investment Banking and Other Advisory Fees and Asset Management Fees—See Note 4 for the Company’s accounting policy on revenue recognition as it applies to investment banking and other advisory and asset management fees.

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

Soft Dollar Arrangements

Soft Dollar Arrangements—Certain entities within the Company’s Asset Management business obtain research and other services through commission-sharing arrangements with broker-dealers, which are also known as “soft dollar” arrangements. Consistent with the “soft dollar” safe harbor established by Section 28(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Asset Management business does not have any contractual obligation or arrangement requiring it to pay for research and other eligible services obtained through soft dollar arrangements with brokers. Instead, the provider is obligated to pay for the services. Consequently, the Company does not incur any liability and does not accrue any expenses in connection with any research or other eligible services obtained by the Asset Management business pursuant to such soft dollar arrangements. For the year ended December 31, 2019, the Company obtained research and other eligible services through soft dollar arrangements valued at approximately $25,000. The use of soft dollars is limited by regulations in the European Union and the U.K. and, as such, the Company intends to directly pay a portion of the costs of such research and other eligible services going forward.

Equity-Based Incentive Compensation Awards

Equity-Based Incentive Compensation Awards—Equity-based incentive compensation awards that do not require future service are expensed immediately. Equity-based compensation awards that require future service are amortized over the applicable vesting period, or requisite service period, based on the fair value of the Company’s Class A common stock on the date of grant. Compensation expense recognized for equity-based incentive compensation is determined based on the number of awards that in the Company’s estimate are considered probable of vesting (including as a result of any applicable performance conditions). Equity-based incentive compensation is recognized in “compensation and benefits” expense.

Share-Based Incentive Plan Awards

Shares Available Under the 2018 Plan, 2008 Plan and 2005 Plan

Income Taxes

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

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

•

future reversals of existing taxable temporary differences;

•

future taxable income exclusive of reversing temporary differences and carryforwards;

•

taxable income in prior carryback years; and

•

tax-planning strategies.

The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available information, including the following:

•

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

•

duration of statutory carryforward periods;

•

historical experience with tax attributes expiring unused; and

•

near-term and medium-term financial outlook.

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

The Company recognizes interest and/or penalties related to unrecognized tax benefits in “provision for income taxes”. See Note 19 for additional information relating to income taxes.

Recent Accounting Developments

ROU assets are lower than the operating lease liabilities primarily because lease incentives reduce the ROU assets (see Note 10).

Employer Contributions to Pension Plans

Business Realignment (Tables)

12 Months Ended

Dec. 31, 2019

Restructuring And Related Activities [Abstract]

Expenses and Losses Associated with Business Realignment Activity

Expenses and losses associated with business realignment for the year ended December 31, 2019 were as follows:

	Financial		Asset
	Advisory		Management		Corporate		Total
Compensation and benefits	$	39,476	$	14,480	$	2,679	$	56,635
Other (a)		4,371		1,750		5,054		11,175
Total	$	43,847	$	16,230	$	7,733	$	67,810

Activity related to the obligations pursuant to business realignment during the year ended December 31, 2019 was as follows:

	Accrued
	Compensation			Other
	and Benefits			Liabilities			Total
Balance, January 1, 2019	$	-		$	-		$	-
New charges		56,635			11,175			67,810
Less:
Non-cash charges		(16,596	)		(5,456	)		(22,052	)
Payments		(19,829	)		(651	)		(20,480	)
Balance, December 31, 2019	$	20,210		$	5,068		$	25,278

Receivables - Additional Information (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables past due or deemed uncollectible	$ 43,339,000	$ 42,260,000
Interest-bearing financing fee receivables	77,052,000	90,966,000
Allowance for doubtful accounts receivables	27,130,000	40,115,000	$ 23,692,000	$ 16,386,000
Aggregate carrying amount of non-interest bearing receivables	620,599,000	613,342,000
Financing Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts receivables	$ 0	$ 0

Employee Benefit Plans - Summary of Changes in Benefit Obligations, Fair Value of Assets, Funded Status and Amounts Recognized in Consolidated Statements of Financial Condition (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]
Excluding tax benefits on amounts recognized	$ 38,327	$ 31,080

Schedule I - Condensed Statements of Comprehensive Income (Parent Company Only) (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tax benefit on prior service costs, employee benefit plans	$ 17	$ 543
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	(8,396)	(203)	$ (3,475)
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	(1,167)	(2,335)	(2,220)
Parent Company [Member]
Tax benefit on prior service costs, employee benefit plans	17	543
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	(8,396)	(203)	(3,475)
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ (1,167)	$ (2,335)	$ (2,220)

Consolidated Statements of Changes in Members' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Tax expense (benefit) related to delivery of Class A Common Stock in connection with share-based incentive compensation	$ (49)	$ 71

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2019

Revenue Recognition [Abstract]

Revenue Based on Business Segment Results

	Year Ended December 31,
	2019		2018
Net Revenue:
Financial Advisory (a)	$	1,352,168	$	1,548,918

Asset Management:
Management Fees and Other (b)	$	1,216,115	$	1,311,286
Incentive Fees (c)		21,275		20,515
Total Asset Management	$	1,237,390	$	1,331,801

(a)

(b)

(c)

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equities [Member]
Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Net unrealized gains (losses)	$ (781)	$ 61	$ 12
Contingent Consideration Liability [Member]
Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Net unrealized (gains) losses	$ (1,309)	$ (3,347)	$ 1,292

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Investments	$ 531,995	$ 575,148
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Investments	16,581	17,752
Alternative Investment Funds [Member] \| Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	9,881	9,741
Debt Funds [Member]
Schedule of Investments [Line Items]
Investments	113,579	90,320
Debt Funds [Member] \| Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	78,360	60,081
Equity Funds [Member]
Schedule of Investments [Line Items]
Investments	218,435	175,088
Equity Funds [Member] \| Lazard Fund Interests [Member]
Schedule of Investments [Line Items]
Investments	$ 170,897	$ 132,038

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2016
Income Tax [Line Items]
U.S. federal statutory income tax rate	21.00%	21.00%	35.00%
Income tax provisions	$ 66,598	$ 88,363	$ 81,863
Deferred tax assets, valuation allowance	70,429	67,997	54,487		$ 55,194
Deferred tax assets recorded due to net operating losses and tax credit carryforwards	62,629
Indefinite-lived carryforwards	21,000
Other certain tax credit carryforwards	$ 36,000
Certain carryforwards begin to expire	2024
Income tax examination, description	With few exceptions, the Company is no longer subject to income tax examination by foreign tax authorities and by U.S. federal, state and local tax authorities for years prior to 2014. While we are under examination in various tax jurisdictions with respect to certain open years, the Company does not expect that the result of any final determination related to these examinations will have a material impact on its financial statements. Developments with respect to such examinations are monitored on an ongoing basis and adjustments to tax liabilities are made as appropriate.
Unrecognized tax benefits, including interest and penalties recorded that may be recognized within 12 months	$ 8,100
Adjustments for New Accounting Principle [Member]
Income Tax [Line Items]
Income tax provisions	$ 5,000	$ 14,000	2,000
Deferred tax assets recorded for previously unrecognized excess tax benefits on share-based payment awards				$ 4,945
Deferred tax assets, valuation allowance			$ 12,090	$ 12,090

Related Parties

12 Months Ended

Dec. 31, 2019

Related Parties

20.	RELATED PARTIES

Receivable from and Payable to Lazard Ltd Subsidiaries

Interest income relating to interest-bearing loans with subsidiaries of Lazard Ltd amounted to $90, $452 and $165 for the years ended December 31, 2019, 2018 and 2017, respectively.

Lazard Group’s payables to subsidiaries of Lazard Ltd at December 31, 2019 and 2018 included interest-bearing loans, including interest thereon, of $57,160 and $60,875, respectively. Interest expense relating to interest-bearing loans with subsidiaries of Lazard Ltd amounted to $3,573, $3,687 and $3,835 for the years ended December 31, 2019, 2018 and 2017, respectively.

Senior Debt - Debt Maturities Relating to Senior Borrowings Outstanding (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total	$ 1,700,000,000	$ 1,450,000,000
Senior Borrowings Outstanding [Member]
Debt Instrument [Line Items]
2020 - 2024	0
Thereafter	1,700,000,000
Total	$ 1,700,000,000

Derivatives - Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition (Parenthetical) (Detail) - Total Return Swap - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Gross derivative assets	$ 152	$ 10,792
Gross derivative liability	$ 8,679	$ 369

Senior Debt - Senior Debt (Detail) - USD ($)	12 Months Ended
Senior Debt - Senior Debt (Detail) - USD ($)	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	$ 1,700,000,000		$ 1,450,000,000
Senior Debt, Outstanding Unamortized Debt Costs	20,438,000		15,740,000
Senior Debt, Outstanding Carrying Value	1,679,562,000		1,434,260,000
Lazard Group 4.25% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000,000
Senior Debt, Maturity Date	Nov. 14, 2020
Senior Debt, Annual Interest Rate	4.25%
Senior Debt, Outstanding Principal			250,000,000
Senior Debt, Outstanding Unamortized Debt Costs			863,000
Senior Debt, Outstanding Carrying Value			249,137,000
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 400,000,000
Senior Debt, Maturity Date	Feb. 13, 2025
Senior Debt, Annual Interest Rate	3.75%
Senior Debt, Outstanding Principal	$ 400,000,000		400,000,000
Senior Debt, Outstanding Unamortized Debt Costs	2,416,000		2,888,000
Senior Debt, Outstanding Carrying Value	397,584,000		397,112,000
Lazard Group 3.625% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 300,000,000
Senior Debt, Maturity Date	Mar. 01, 2027
Senior Debt, Annual Interest Rate	3.625%
Senior Debt, Outstanding Principal	$ 300,000,000		300,000,000
Senior Debt, Outstanding Unamortized Debt Costs	2,822,000		3,215,000
Senior Debt, Outstanding Carrying Value	297,178,000		296,785,000
Lazard Group 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000,000			$ 500,000,000
Senior Debt, Maturity Date	Sep. 19, 2028
Senior Debt, Annual Interest Rate	4.50%			4.50%
Senior Debt, Outstanding Principal	$ 500,000,000		500,000,000
Senior Debt, Outstanding Unamortized Debt Costs	7,814,000		8,774,000
Senior Debt, Outstanding Carrying Value	492,186,000		$ 491,226,000
Lazard Group 4.375% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000,000	$ 500,000,000
Senior Debt, Maturity Date	Mar. 11, 2029
Senior Debt, Annual Interest Rate	4.375%	4.375%
Senior Debt, Outstanding Principal	$ 500,000,000
Senior Debt, Outstanding Unamortized Debt Costs	7,386,000
Senior Debt, Outstanding Carrying Value	$ 492,614,000

Employee Benefit Plans - Schedule of Expected Benefit Payments (Detail) - Pension Plans [Member] $ in Thousands	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2020	$ 25,184
2021	27,505
2022	28,771
2023	29,269
2024	30,938
2025-2029	$ 156,960