0001564590-23-006915 | 10-Q | XBRL Viewer

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Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 596,601	$ 1,234,773
Deposits with banks and short-term investments	522,560	779,246
Restricted cash	36,985	625,381
Receivables (net of allowance for credit losses of $24,929 and $17,738 at March 31, 2023 and December 31, 2022, respectively):
Fees	509,831	491,861
Customers and other	188,296	160,897
Total receivables, net	698,127	652,758
Investments	741,868	698,977
Property (net of accumulated amortization and depreciation of $402,142 and $395,109 at March 31, 2023 and December 31, 2022, respectively)	245,685	250,073
Operating lease right-of-use assets	428,859	431,608
Goodwill and other intangible assets (net of accumulated amortization of $70,131 and $70,118 at March 31, 2023 and December 31, 2022, respectively)	394,260	377,330
Deferred tax assets	367,655	407,657
Other assets	534,917	394,758
Total Assets	4,567,517	5,852,561
Liabilities:
Deposits and other customer payables	697,088	921,834
Accrued compensation and benefits	442,890	735,576
Operating lease liabilities	509,761	513,688
Senior debt	1,688,335	1,687,714
Deferred tax liabilities	4,793	3,920
Other liabilities	508,206	539,770
Total Liabilities	3,969,636	4,593,691
Commitments and contingencies
Redeemable noncontrolling interests	89,472	583,471
Common stock:
Class A, par value $.01 per share (500,000,000 shares authorized; 112,766,091 shares issued at March 31, 2023 and December 31, 2022, including shares held by subsidiaries as indicated below)	1,128	1,128
Additional paid-in-capital	94,312	167,890
Retained earnings	1,604,650	1,676,713
Accumulated other comprehensive loss, net of tax	(282,957)	(295,854)
Stockholders' equity subtotal before common stock held by subsidiaries and Noncontrolling interests, total	1,417,133	1,549,877
Class A common stock held by subsidiaries, at cost (26,100,898 and 26,814,213 shares at March 31, 2023 and December 31, 2022, respectively)	(965,707)	(993,414)
Total Lazard Ltd Stockholders’ Equity	451,426	556,463
Noncontrolling interests	56,983	118,936
Total Stockholders’ Equity	508,409	675,399
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	4,567,517	5,852,561
LTBP Trust [Member]
Liabilities:
Tax receivable agreement obligation	118,563	191,189
Series A Preferred Stock [Member]
Preferred stock:
Preferred stock
Series B Preferred Stock [Member]
Preferred stock:
Preferred stock

Segment Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Information

18.	SEGMENT INFORMATION

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

The Company’s segment information for the three month periods ended March 31, 2023 and 2022 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 records other revenue, interest income and interest expense among the various segments based on the segment in which the underlying asset or liability is reported.

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

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

		Three Months Ended
		March 31,
		2023			2022
Financial Advisory	Net Revenue	$	277,574		$	390,215
	Operating Expenses		328,735			298,258
	Operating Income (Loss)	$	(51,161	)	$	91,957
Asset Management	Net Revenue	$	284,044		$	338,501
	Operating Expenses		248,051			241,516
	Operating Income	$	35,993		$	96,985
Corporate	Net Revenue (Loss)	$	(19,182	)	$	(33,824	)
	Operating Expenses (Credit)		2,574			(4,610	)
	Operating Loss	$	(21,756	)	$	(29,214	)
Total	Net Revenue	$	542,436		$	694,892
	Operating Expenses		579,360			535,164
	Operating Income (Loss)	$	(36,924	)	$	159,728

	As Of
	March 31, 2023		December 31, 2022
Total Assets
Financial Advisory	$	1,145,663	$	1,099,921
Asset Management		860,230		978,083
Corporate		2,561,624		3,774,557
Total	$	4,567,517	$	5,852,561

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Derivatives (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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

The tables below present 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 12) on the accompanying condensed consolidated statements of financial condition as of March 31, 2023 and December 31, 2022. Notional amounts provide an indication of the volume of the Company's derivative activity.

Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the condensed consolidated statements of financial condition where the Company has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, amounts are not eligible for netting on the condensed consolidated statements of financial condition, and those derivative assets and liabilities are shown separately in the table below.

In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on the condensed consolidated statements of financial condition.

	March 31, 2023
	Derivative Assets					Derivative Liabilities
	Fair Value			Notional		Fair Value			Notional
Forward foreign currency exchange rate contracts	$	1,980		$	200,158	$	1,489		$	232,388
Total return swaps and other		3,329			70,243		747			74,890
LFI and other similar deferred compensation arrangements		-			-		367,534			389,040
Total gross derivatives		5,309		$	270,401		369,770		$	696,318
Counterparty and cash collateral netting:
Forward foreign currency exchange rate contracts		(575	)				(575	)
Total return swaps and other		(743	)				(743	)
Net derivatives in "other assets" and "other liabilities"		3,991					368,452
Amounts not netted (a):
Cash collateral		(581	)				-
Securities collateral		-					-
	$	3,410				$	368,452

	December 31, 2022
	Derivative Assets					Derivative Liabilities
	Fair Value			Notional		Fair Value			Notional
Forward foreign currency exchange rate contracts	$	1,356		$	170,103	$	921		$	128,098
Total return swaps and other		13,427			155,026		72			1,398
LGAC Warrants		-			-		115			11,500
LFI and other similar deferred compensation arrangements		-			-		326,282			338,126
Total gross derivatives		14,783		$	325,129		327,390		$	479,122
Counterparty and cash collateral netting:
Forward foreign currency exchange rate contracts		(157	)				(158	)
Total return swaps and other		(72	)				(72	)
Net derivatives in "other assets" and "other liabilities"		14,554					327,160
Amounts not netted (a):
Cash collateral		-					-
Securities collateral		-					-
	$	14,554				$	327,160

(a)

Amounts are subject to master netting arrangements but do not meet the criteria for netting on the condensed consolidated statements of financial condition under U.S. GAAP. For some counterparties, the collateral amounts of securities and cash collateral pledged may exceed the derivative assets and derivative liabilities balances. Where this is the case, the total amount reported is limited to the net derivative assets and net derivative liabilities balances with that counterparty.

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

Net gains (losses) with respect to derivative instruments (included in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2023 and 2022, were as follows:

	Three Months Ended
	March 31,
	2023			2022
Forward foreign currency exchange rate contracts	$	94		$	1,906
LFI and other similar deferred compensation arrangements		(16,453	)		14,323
LGAC Warrants		115			3,910
Total return swaps and other		(6,410	)		6,188
Total	$	(22,654	)	$	26,327

Net Income Per Share of Common Stock (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

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

The Company’s basic and diluted net income per share calculations using the “two-class” method for the three month periods ended March 31, 2023 and 2022 are presented below:

	Three Months Ended
	March 31,
	2023			2022
Net income attributable to Lazard Ltd	$	(22,172	)	$	113,876
Add - adjustment for earnings attributable to participating securities		(1,125	)		(1,733	)
Net income attributable to Lazard Ltd - basic		(23,297	)		112,143
Add - adjustment for earnings attributable to participating securities		-			1,129
Net income attributable to Lazard Ltd - diluted	$	(23,297	)	$	113,272
Weighted average number of shares of common stock outstanding		85,734,443			100,634,720
Add - adjustment for shares of common stock issuable on a non-contingent basis		1,857,409			1,912,557
Weighted average number of shares of common stock outstanding - basic		87,591,852			102,547,277
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		-			5,639,365
Weighted average number of shares of common stock outstanding - diluted		87,591,852			108,186,642
Net income attributable to Lazard Ltd per share of common stock:
Basic	$	(0.27	)	$	1.09
Diluted	$	(0.27	)	$	1.05

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2023

Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Cost (Credit)

The following table summarizes the components of net periodic benefit cost (credit) related to the Company’s pension plans for the three month periods ended March 31, 2023 and 2022:

	Pension Plans
	Three Months Ended March 31,
	2023			2022
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	98		$	211
Interest cost		5,152			3,000
Expected return on plan assets		(5,816	)		(6,624	)
Amortization of:
Prior service cost		26			29
Net actuarial loss		1,510			1,087
Settlement loss		759			436
Net periodic benefit cost (credit)	$	1,729		$	(1,861	)

Stockholders' Equity and Redeemable Noncontrolling Interests - Schedule of Shares Repurchased Under the Share Repurchase Program (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share Repurchase Program [Abstract]
Number of Shares Purchased	2,692,161	4,717,821
Average Price Per Share	$ 36.75	$ 37.26

Net Income Per Share of Common Stock - Company's Basic and Diluted Net Income Per Share and Weighted Average Shares Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income attributable to Lazard Ltd	$ (22,172)	$ 113,876
Add - adjustment for earnings attributable to participating securities	(1,125)	(1,733)
Net income attributable to Lazard Ltd - basic	(23,297)	112,143
Add - adjustment for earnings attributable to participating securities		1,129
Net income attributable to Lazard Ltd - diluted	$ (23,297)	$ 113,272
Weighted average number of shares of common stock outstanding	85,734,443	100,634,720
Add - adjustment for shares of common stock issuable on a non-contingent basis	1,857,409	1,912,557
Weighted average number of shares of common stock outstanding - basic	87,591,852	102,547,277
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		5,639,365
Weighted average number of shares of common stock outstanding - diluted	87,591,852	108,186,642
Net income attributable to Lazard Ltd per share of common stock:
Basic	$ (0.27)	$ 1.09
Diluted	$ (0.27)	$ 1.05

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 21, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	LAZARD LTD
Entity Central Index Key	0001311370
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		112,766,091
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	D0
Entity File Number	001-32492
Entity Tax Identification Number	98-0437848
Entity Address, Address Line One	Clarendon House
Entity Address, Address Line Two	2 Church Street
Entity Address, City or Town	Hamilton
Entity Address, State or Province	HM11
Entity Address, Country	BM
City Area Code	441
Local Phone Number	295-1422
Title of each class	Class A Common Stock
Trading Symbol	LAZ
Name of each exchange on which registered	NYSE
Subsidiaries of Lazard Ltd [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,100,048

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
REVENUE
Interest income	$ 12,607	$ 1,761
Other	10,417	9,592
Total revenue	561,911	716,144
Interest expense	19,475	21,252
Net revenue	542,436	694,892
OPERATING EXPENSES
Compensation and benefits	449,967	396,841
Occupancy and equipment	31,773	31,239
Marketing and business development	22,762	14,123
Technology and information services	44,040	37,931
Professional services	24,326	16,029
Fund administration and outsourced services	26,576	29,703
Amortization and other acquisition-related costs	48	15
Benefit pursuant to tax receivable agreement	(40,435)
Other	20,303	9,283
Total operating expenses	579,360	535,164
OPERATING INCOME (LOSS)	(36,924)	159,728
Provision (benefit) for income taxes	(21,725)	38,753
NET INCOME (LOSS)	(15,199)	120,975
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	6,973	7,099
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD LTD	$ (22,172)	$ 113,876
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic	87,591,852	102,547,277
Diluted	87,591,852	108,186,642
NET INCOME (LOSS) PER SHARE OF COMMON STOCK:
Basic	$ (0.27)	$ 1.09
Diluted	$ (0.27)	$ 1.05
Investment Banking and Other Advisory Fees [Member]
REVENUE
Revenue	$ 277,408	$ 389,739
Asset Management Fees [Member]
REVENUE
Revenue	$ 261,479	$ 315,052

Stockholders' Equity and Redeemable Noncontrolling Interests - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Apr. 26, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule Of Stockholders Equity [Line Items]
Aggregate value of all shares repurchased		$ 98,925	$ 175,797
Share repurchase remaining authorization		$ 203,220
Share repurchase authorization expiration date		Dec. 31, 2024
Preferred stock, shares authorized		15,000,000		15,000,000
Preferred stock, par value		$ 0.01		$ 0.01
Dividend declared per share of common stock		$ 0.50	$ 0.47
Subsequent Event [Member]
Schedule Of Stockholders Equity [Line Items]
Dividend declare date	Apr. 26, 2023
Dividend declared per share of common stock	$ 0.50
Dividend payable date	May 19, 2023
Dividend date of record	May 08, 2023
Common Stock [Member] \| Executive Officers [Member]
Schedule Of Stockholders Equity [Line Items]
Aggregate value of all shares repurchased		$ 11,100	$ 11,500
Series A Preferred Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares outstanding		0		0
Series B Preferred Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares outstanding		0		0

Investments - Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net Realized Or Unrealized Gain Loss On Trading Securities [Abstract]
Net unrealized investment gains (losses)	$ 24,787	$ (40,867)

Incentive Plans - Summary of Impact of LFI and Other Similar Deferred Compensation Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share Based Compensation [Abstract]
Amortization, net of forfeitures	$ 34,528	$ 35,625
Change in the fair value of underlying investments	16,453	(14,323)
Total	$ 50,981	$ 21,302

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 394,185	$ 379,480	$ 377,240	$ 379,421
Amortization of intangible assets related to acquisitions	15	$ 15
Financial Advisory Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	312,938		312,699
Asset Management Segment [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 81,247		$ 64,541

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Consolidated VIEs

3 Months Ended

Mar. 31, 2023

Variable Interest Entity Measure Of Activity [Abstract]

Consolidated VIEs

19.	CONSOLIDATED VIEs

The Company’s consolidated VIEs as of March 31, 2023 and December 31, 2022 include LGAC (see Note 1) and certain funds (“LFI Consolidated Funds”) that were 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 assets of LFI Consolidated Funds, except as it relates to $131,672 and $115,666 of LFI held by Lazard Group as of March 31, 2023 and December 31, 2022, respectively, can only be used to settle the obligations of LFI Consolidated Funds. The Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the condensed consolidated statements of financial condition consist of the following at March 31, 2023 and December 31, 2022.

	March 31, 2023		December 31, 2022
ASSETS
Cash and cash equivalents	$	3,907	$	3,644
Customers and other receivables		591		240
Investments		216,862		186,300
Other assets		385		622
Total assets	$	221,745	$	190,806

LIABILITIES
Deposits and other customer payables	$	104	$	528
Other liabilities		497		448
Total liabilities	$	601	$	976

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investments	$ 741,868	$ 698,977
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Investments	70,233	56,947
Alternative Investment Funds [Member] \| Lazard Fund Interests [Member] \| Lazard Group LLC [Member]
Schedule of Investments [Line Items]
Investments	27,038	24,137
Debt Funds [Member]
Schedule of Investments [Line Items]
Investments	205,701	178,556
Debt Funds [Member] \| Lazard Fund Interests [Member] \| Lazard Group LLC [Member]
Schedule of Investments [Line Items]
Investments	176,210	142,632
Equity Funds [Member]
Schedule of Investments [Line Items]
Investments	358,202	350,282
Equity Funds [Member] \| Lazard Fund Interests [Member] \| Lazard Group LLC [Member]
Schedule of Investments [Line Items]
Investments	$ 294,278	$ 266,528

Senior Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Senior Debt

Senior debt is comprised of the following as of March 31, 2023 and December 31, 2022:

							Outstanding as of
	Initial			Annual			March 31, 2023						December 31, 2022
	Principal Amount		Maturity Date	Interest Rate(a)			Principal		Unamortized Debt Costs		Carrying Value		Principal		Unamortized Debt Costs		Carrying Value
Lazard Group 2025 Senior Notes	$	400,000	2/13/25		3.75	%	$	400,000	$	885	$	399,115	$	400,000	$	1,003	$	398,997
Lazard Group 2027 Senior Notes		300,000	3/1/27		3.625	%		300,000		1,528		298,472		300,000		1,625		298,375
Lazard Group 2028 Senior Notes		500,000	9/19/28		4.50	%		500,000		4,651		495,349		500,000		4,864		495,136
Lazard Group 2029 Senior Notes		500,000	3/11/29		4.375	%		500,000		4,601		495,399		500,000		4,794		495,206
Total							$	1,700,000	$	11,665	$	1,688,335	$	1,700,000	$	12,286	$	1,687,714

(a)

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”), Lazard Group’s 4.50% senior notes due September 19, 2028 (the “2028 Notes”) and Lazard Group’s 4.375% senior notes due March 11, 2029 (the “2029 Notes”) are 3.87%, 3.76%, 4.67% and 4.53%, respectively.

Property, Net - Components of Property (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 647,827	$ 645,182
Less - Accumulated depreciation and amortization	402,142	395,109
Property, net	245,685	250,073
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 141,428	135,103
Property, plant and equipment, useful life	33 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 253,886	208,323
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	$ 239,857	236,194
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	$ 12,656	$ 65,562

Stockholders' Equity and Redeemable Noncontrolling Interests - Adjustments for Items Reclassified Out of AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	$ 1,160	$ 849
Employee Benefit Plans [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization relating to employee benefit plans	1,536	1,116
Less - related income taxes	376	267
Total reclassifications, net of tax	$ 1,160	$ 849

Fair Value Measurements

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

5.	FAIR VALUE MEASUREMENTS

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

Level 1.

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

Level 2.

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

Level 3.

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

The 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 interests 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 based on the publicly reported closing price for the fund.

The fair value of investments in certain private equity funds is classified as Level 3 for (i) certain investments that are valued based on the potential transaction value and (ii) when the acquisition price is considered the best measure of fair value.

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 costs” in the condensed 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 condensed consolidated statements of financial condition.

The fair value of derivatives entered into by the Company and classified as Level 1 is based on the listed market price of such instruments. The fair value of derivatives entered into by the Company and classified as Level 2 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 6.

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 March 31, 2023 and December 31, 2022, 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:

	March 31, 2023
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Debt	$	4,116	$	-	$	-	$	-	$	4,116
Equities		51,454		-		634		-		52,088
Funds:
Alternative investments		28,066		-		-		42,167		70,233
Debt		205,696		-		-		5		205,701
Equity		358,160		-		-		42		358,202
Private equity		-		-		19,139		32,389		51,528
Derivatives		-		3,991		-		-		3,991
Total	$	647,492	$	3,991	$	19,773	$	74,603	$	745,859
Liabilities:
Securities sold, not yet purchased	$	4,106	$	-	$	-	$	-	$	4,106
Contingent consideration liability		-		-		6,342		-		6,342
Derivatives		-		368,452		-		-		368,452
Total	$	4,106	$	368,452	$	6,342	$	-	$	378,900

	December 31, 2022
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Equities	$	43,243	$	-	$	646	$	-	$	43,889
Funds:
Alternative investments		27,073		-		-		29,874		56,947
Debt		178,552		-		-		4		178,556
Equity		350,242		-		-		40		350,282
Private equity		-		-		18,772		35,050		53,822
Derivatives		-		14,554		-		-		14,554
Total	$	599,110	$	14,554	$	19,418	$	64,968	$	698,050
Liabilities:
Securities sold, not yet purchased	$	4,651	$	-	$	-	$	-	$	4,651
Derivatives		115		327,045		-		-		327,160
Total	$	4,766	$	327,045	$	-	$	-	$	331,811

The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the three month periods ended March 31, 2023 and 2022:

	Three Months Ended March 31, 2023
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)		Purchases/ Acquisitions/ Issuances		Sales/ Settlements			Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	646	$	1	$	-	$	-		$	(13	)	$	634
Private equity funds		18,772		-		-		-			367			19,139
Total Level 3 assets	$	19,418	$	1	$	-	$	-		$	354		$	19,773

Liabilities:
Contingent consideration liability	$	-	$	33	$	7,754	$	(1,445	)	$	-		$	6,342
Total Level 3 liabilities	$	-	$	33	$	7,754	$	(1,445	)	$	-		$	6,342

	Three Months Ended March 31, 2022
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)		Purchases/ Issuances		Sales/ Settlements			Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	578	$	7	$	-	$	-		$	(10	)	$	575
Private equity funds		293		-		-		(13	)		(6	)		274
Total Level 3 assets	$	871	$	7	$	-	$	(13	)	$	(16	)	$	849

(a)

Earnings recorded in “other revenue” for investments in Level 3 assets for the three month periods ended March 31, 2023 and 2022 include net unrealized gains of $1 and $7, respectively. Unrealized losses of $33 were recorded in “amortization and other acquisition-related costs” for the contingent consideration liability for the three month period ended March 31, 2023.

There were no transfers into or out of Level 3 within the fair value hierarchy during the three month periods ended March 31, 2023 and 2022.

The following tables present, at March 31, 2023 and December 31, 2022, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:

March 31, 2023

Investments Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

41,526

(a)

30-60 days

Other

641

(b)

<30-30 days

Debt funds

(c)

<30 days

Equity funds

(d)

<30-60 days

Private equity funds:

Equity growth

32,389

5,455

(e)

100%

(f)

Total

74,603

5,455

(a)	monthly (73%) and quarterly (27%)

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

(c)	daily (100%)

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

(e)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,003 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

(f)	Distributions from each fund will be received as the underlying investments of the funds are liquidated.

December 31, 2022

Investments Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

29,259

(a)

30-60 days

Other

615

(b)

<30-30 days

Debt funds

(c)

<30 days

Equity funds

(d)

<30-60 days

Private equity funds:

Equity growth

35,050

5,455

(e)

100

(f)

Total

64,968

5,455

(a)	monthly (68%) and quarterly (32%)

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

(c)	daily (100%)

(d)	monthly (35%) and annually (65%)

(e)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,003 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

(f)	Distributions from each fund will be received as the underlying investments of the funds are liquidated.

Investment Capital Funding Commitments—At March 31, 2023, the Company’s maximum unfunded commitments for capital contributions to investment funds primarily arose from commitments to EGCP III, which amounted to $5,093. 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.

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 74,603	$ 64,968
Unfunded Commitments	5,455	5,455
Hedge Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 41,526	$ 29,259
Hedge Funds [Member] \| Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	73.00%	68.00%
Hedge Funds [Member] \| Quarterly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	27.00%	32.00%
Hedge Funds [Member] \| Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Hedge Funds [Member] \| Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Other [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 641	$ 615
Other [Member] \| Daily [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	5.00%	5.00%
Other [Member] \| Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	95.00%	95.00%
Other [Member] \| Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Other [Member] \| Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 5	$ 4
Investments Redeemable, Redemption Notice Period	30 days	30 days
Debt Funds [Member] \| Daily [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	100.00%	100.00%
Equity Funds [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 42	$ 40
Equity Funds [Member] \| Monthly [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	34.00%	35.00%
Equity Funds [Member] \| Annually [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Percent	66.00%	65.00%
Equity Funds [Member] \| Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	30 days	30 days
Equity Funds [Member] \| Maximum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Investments Redeemable, Redemption Notice Period	60 days	60 days
Private Equity Funds [Member] \| Equity Growth [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 32,389	$ 35,050
Unfunded Commitments	$ 5,455	$ 5,455
% of Fair Value Not Redeemable	100.00%	100.00%

Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 394,185	$ 377,240	$ 379,480	$ 379,421
Other intangible assets (net of accumulated amortization)	75	90
Goodwill and other intangible assets, Total	$ 394,260	$ 377,330

- Definition

+ References + Details

Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

14.	INCOME TAXES

Lazard Ltd, through its subsidiaries, is subject to U.S. federal income taxes on all of its U.S. operating income, as well as on the portion of non-U.S. income attributable to its U.S. subsidiaries. In addition, Lazard Ltd, 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.

The Company recorded an income tax benefit of $21,725 and an income tax provision of $38,753 for the three month periods ended March 31, 2023 and 2022, respectively, representing effective tax rates of 58.8% and 24.3%, respectively. The difference between the U.S. federal statutory rate of 21.0% and the effective tax rates reflected above principally relates to (i) the tax impact of differences in the value of share based incentive compensation and other discrete items, (ii) foreign source income (loss) not subject to U.S. income taxes (including interest on intercompany financings), (iii) taxes payable to foreign jurisdictions that are not offset against U.S. income taxes, (iv) change in the U.S. federal valuation allowance affecting the provision for income taxes and (v) U.S. state and local taxes, which are incremental to the U.S. federal statutory tax rate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
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-Subparagraph (SAB Topic 11.C)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Incentive Plans - Summary of Activity Related to RSAs (Detail) - RSAs [Member] - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	1,266,424
Units, Granted	600,922
Units, Forfeited	(3,401)
Units, Settled	(297,142)
Units, Ending Balance	1,566,803
Weighted Average Grant Date Fair Value, Beginning Balance	$ 36.99
Weighted Average Grant Date Fair Value, Granted	37.75	$ 33.17
Weighted Average Grant Date Fair Value, Forfeited	41.41
Weighted Average Grant Date Fair Value, Settled	42.95
Weighted Average Grant Date Fair Value, Ending Balance	$ 36.14

Cost-Saving Initiatives - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Cost Saving Initiatives [Line Items]
Expected in reduction of our workforce	10.00%
Restructuring charges	$ 20,740
Additional costs are expected to be incurred in subsequent quarters	95,000
Restructuring remaining obligation	8,184
Payments for restructuring	12,556
Asset Management Segment [Member]
Cost Saving Initiatives [Line Items]
Restructuring charges	11,235
Financial Advisory Segment [Member]
Cost Saving Initiatives [Line Items]
Restructuring charges	8,777
Corporate [Member]
Cost Saving Initiatives [Line Items]
Restructuring charges	$ 728

Employee Benefit Plans

3 Months Ended

Mar. 31, 2023

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

13.	EMPLOYEE BENEFIT PLANS

The Company provides retirement and other post-retirement benefits to certain of its employees through defined benefit pension plans (the “pension plans”). 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 condensed consolidated statements of operations.

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

The following table summarizes the components of net periodic benefit cost (credit) related to the Company’s pension plans for the three month periods ended March 31, 2023 and 2022:

	Pension Plans
	Three Months Ended March 31,
	2023			2022
Components of Net Periodic Benefit Cost (Credit):
Service cost	$	98		$	211
Interest cost		5,152			3,000
Expected return on plan assets		(5,816	)		(6,624	)
Amortization of:
Prior service cost		26			29
Net actuarial loss		1,510			1,087
Settlement loss		759			436
Net periodic benefit cost (credit)	$	1,729		$	(1,861	)

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2023

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, RSAs and profits interest participation rights, including PRPUs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2023 and 2022:

	Three Months Ended
	March 31,
	2023		2022
Share-based incentive awards:
RSUs	$	43,576	$	26,659
PRSUs		789		245
RSAs		6,926		4,936
Profits interest participation rights		19,062		21,448
DSUs		181		149
Total	$	70,534	$	53,437

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 three month period ended March 31, 2023:

	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2023	$	112,124		$	326,282
Granted		159,981			159,981
Settled		-			(137,633	)
Forfeited		2,510			(1,018	)
Amortization		(34,942	)		-
Change in fair value related to:
Change in fair value of underlying investments		-			16,453
Adjustment for estimated forfeitures		-			3,114
Other		72			355
Balance, March 31, 2023	$	239,745		$	367,534

The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2023 and 2022:

	Three Months Ended
	March 31,
	2023		2022
Amortization, net of forfeitures	$	34,528	$	35,625
Change in the fair value of underlying investments		16,453		(14,323	)
Total	$	50,981	$	21,302

Restricted Stock Units and Deferred Stock Units [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to RSUs and DSUs during the three month period ended March 31, 2023:

	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2023		9,022,917		$	37.97		400,820	$	37.66
Granted (including 169,034 RSUs relating to dividend participation)		4,228,611		$	37.44		4,774	$	37.85
Forfeited		(10,572	)	$	38.91		-	$	-
Settled		(2,753,616	)	$	42.55		-	$	-
Balance, March 31, 2023		10,487,340		$	36.55		405,594	$	37.66

Restricted Stock Awards Class A [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity related to RSAs associated with compensation arrangements during the three month period ended March 31, 2023:

	RSAs			Weighted Average Grant Date Fair Value
Balance, January 1, 2023		1,266,424		$	36.99
Granted (including 25,258 relating to dividend participation)		600,922		$	37.75
Forfeited		(3,401	)	$	41.41
Settled		(297,142	)	$	42.95
Balance, March 31, 2023		1,566,803		$	36.14

PRSUs [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to PRSUs during the three month period ended March 31, 2023:

PRSUs

Weighted

Average

Grant Date

Fair Value

Balance, January 1, 2023

94,690

39.27

Balance, March 31, 2023

94,690

39.27

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 three month period ended March 31, 2023:

	Profits Interest Participation Rights			Weighted Average Grant Date Fair Value
Balance, January 1, 2023		4,131,628		$	40.15
Granted		1,238,074		$	35.94
Settled		(1,521,620	)	$	42.17
Balance, March 31, 2023 (a)		3,848,082		$	38.00

(a)

Table includes 1,474,002 PRPUs as of March 31, 2023. This includes 2,447,224 PRPUs as of January 1, 2023, net of 973,222 PRPUs settled during the three month period ended March 31, 2023. The balance as of March 31, 2023 reflects the target number of PRPUs granted in February 2021 and March 2022. There were no PRPUs granted during the three month period ended March 31, 2023. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of January 1, 2023 were $40.29 and $39.96, respectively. The weighted average grant date fair values for other profits interest participation rights granted during the three month period ended March 31, 2023 was $35.94. The weighted average grant date fair values for PRPUs and other profits interest participation rights settled during the three month period ended March 31, 2023 were $41.76 and $42.89, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of March 31, 2023 were $39.31 and $37.19, respectively.

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Assets:
Beginning Balance	$ 19,418	$ 871
Net Unrealized/Realized Gains/Losses Included In Earnings	$ 1	$ 7
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other
Purchases/Acquisitions/Issuances		$ 0
Sales/Settlements		(13)
Foreign Currency Translation Adjustments	$ 354	(16)
Ending Balance	19,773	849
Liabilities:
Beginning Balance	0
Net Unrealized/Realized Gains/Losses Included In Earnings	33
Purchases/Acquisitions/Issuances	7,754
Sales/Settlements	(1,445)
Foreign Currency Translation Adjustments	0
Ending Balance	6,342
Contingent Consideration Liability [Member]
Liabilities:
Beginning Balance	0
Net Unrealized/Realized Gains/Losses Included In Earnings	33
Purchases/Acquisitions/Issuances	7,754
Sales/Settlements	(1,445)
Foreign Currency Translation Adjustments	0
Ending Balance	6,342
Equities [Member]
Assets:
Beginning Balance	646	578
Net Unrealized/Realized Gains/Losses Included In Earnings	1	7
Purchases/Acquisitions/Issuances		0
Sales/Settlements		0
Foreign Currency Translation Adjustments	(13)	(10)
Ending Balance	634	575
Private Equity Funds [Member]
Assets:
Beginning Balance	18,772	293
Net Unrealized/Realized Gains/Losses Included In Earnings		0
Purchases/Acquisitions/Issuances		0
Sales/Settlements		(13)
Foreign Currency Translation Adjustments	367	(6)
Ending Balance	$ 19,139	$ 274

Property, Net

3 Months Ended

Mar. 31, 2023

Property Plant And Equipment [Abstract]

Property, Net

7.	PROPERTY, NET

At March 31, 2023 and December 31, 2022, property consisted of the following:

	Estimated Depreciable		March 31,		December 31,
	Life in Years		2023		2022
Buildings		33	$	141,428	$	135,103
Leasehold improvements	3-20			253,886		208,323
Furniture and equipment	3-10			239,857		236,194
Construction in progress				12,656		65,562
Total				647,827		645,182
Less - Accumulated depreciation and amortization				402,142		395,109
Property, net			$	245,685	$	250,073

Derivatives

3 Months Ended

Mar. 31, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives

6.DERIVATIVES

	March 31, 2023
	Derivative Assets					Derivative Liabilities
	Fair Value			Notional		Fair Value			Notional
Forward foreign currency exchange rate contracts	$	1,980		$	200,158	$	1,489		$	232,388
Total return swaps and other		3,329			70,243		747			74,890
LFI and other similar deferred compensation arrangements		-			-		367,534			389,040
Total gross derivatives		5,309		$	270,401		369,770		$	696,318
Counterparty and cash collateral netting:
Forward foreign currency exchange rate contracts		(575	)				(575	)
Total return swaps and other		(743	)				(743	)
Net derivatives in "other assets" and "other liabilities"		3,991					368,452
Amounts not netted (a):
Cash collateral		(581	)				-
Securities collateral		-					-
	$	3,410				$	368,452

	December 31, 2022
	Derivative Assets					Derivative Liabilities
	Fair Value			Notional		Fair Value			Notional
Forward foreign currency exchange rate contracts	$	1,356		$	170,103	$	921		$	128,098
Total return swaps and other		13,427			155,026		72			1,398
LGAC Warrants		-			-		115			11,500
LFI and other similar deferred compensation arrangements		-			-		326,282			338,126
Total gross derivatives		14,783		$	325,129		327,390		$	479,122
Counterparty and cash collateral netting:
Forward foreign currency exchange rate contracts		(157	)				(158	)
Total return swaps and other		(72	)				(72	)
Net derivatives in "other assets" and "other liabilities"		14,554					327,160
Amounts not netted (a):
Cash collateral		-					-
Securities collateral		-					-
	$	14,554				$	327,160

(a)

	Three Months Ended
	March 31,
	2023			2022
Forward foreign currency exchange rate contracts	$	94		$	1,906
LFI and other similar deferred compensation arrangements		(16,453	)		14,323
LGAC Warrants		115			3,910
Total return swaps and other		(6,410	)		6,188
Total	$	(22,654	)	$	26,327

See Note 1 for additional information on LGAC Warrants.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ (15,199)	$ 120,975
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property	11,144	10,258
Noncash lease expense	15,155	17,089
Amortization of deferred expenses and share-based incentive compensation	108,254	90,633
Amortization and other acquisition-related costs	48	15
Deferred tax provision	40,235	26,261
Benefit pursuant to tax receivable agreement	(40,435)
Impairment of equity method investments and other receivables	22,981
Loss on LGAC liquidation	17,929
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Receivables-net	(43,689)	(15,160)
Investments	(160,276)	44,236
Other assets	(7,717)	(26,435)
Accrued compensation and benefits and other liabilities	(359,848)	(481,402)
Net cash used in operating activities	(411,418)	(213,530)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(4,612)	(13,510)
Disposals of property	2	2
Acquisition of business, net of cash acquired	(10,516)
Net cash used in investing activities	(15,126)	(13,508)
Proceeds from:
Customer deposits, net		302,342
Contributions from noncontrolling interests	50	191
Payments for:
Customer deposits, net	(239,051)
Distributions to noncontrolling interests	(2,042)	(4,474)
Tax receivable agreement	(32,191)	(20,945)
Distribution to redeemable noncontrolling interests in connection with LGAC redemption	(585,891)
Purchase of Class A common stock	(98,925)	(175,797)
Class A common stock dividends	(42,524)	(46,664)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements	(45,165)	(58,005)
LFI Consolidated Funds redemptions	(21,566)	(10,976)
Other financing activities	(5,110)	(4,915)
Net cash used in financing activities	(1,072,415)	(19,243)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	15,705	(51,822)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(1,483,254)	(298,103)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1	2,639,400	3,430,014
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— March 31	$ 1,156,146	$ 3,131,911

Cost Saving Initiatives

3 Months Ended

Mar. 31, 2023

Cost Saving Initiatives [Abstract]

Cost Saving Initiatives

20.	COST-SAVING INITIATIVES

The Company is conducting cost-saving initiatives, which are expected to result in the reduction of approximately 10% of our workforce over the course of 2023. Compensation and benefits expense associated with the cost-saving initiatives for the three month period ended March 31, 2023 was $20,740, of which $8,777, $11,235, and $728 related to the Financial Advisory, Asset Management and Corporate segments, respectively.

The obligation pursuant to the cost-saving initiatives at March 31, 2023 was $8,184, which reflected payments of $12,556 made during the three month period ended March 31, 2023.

Additional costs of approximately $95,000, primarily related to compensation and benefits, are expected to be incurred in subsequent quarters of 2023.

Fair Value Measurements - Fair Value of Certain Investments Based on NAV (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 5,455	$ 5,455
Private Equity Funds [Member] \| Consolidated But Not Owned [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Unfunded Commitments	$ 8,003	$ 8,003

Receivables and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Schedule of Allowance for Credit Losses

Activity in the allowance for credit losses for the three month periods ended March 31, 2023 and 2022 was as follows:

	Three Months Ended
	March 31,
	2023			2022
Beginning Balance	$	17,738		$	33,957
Bad debt expense, net of reversals		7,825			519
Charge-offs, foreign currency translation and other adjustments		(634	)		(663	)
Ending Balance	$	24,929		$	33,813

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 377,240	$ 379,421
Acquisition of business	16,706
Foreign currency translation adjustments	239	59
Ending Balance	$ 394,185	$ 379,480

- Definition

+ References + Details

Senior Debt - Senior Debt (Detail) - USD ($)	3 Months Ended
Senior Debt - Senior Debt (Detail) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Senior Debt, Outstanding Principal	$ 1,700,000,000	$ 1,700,000,000
Senior Debt, Outstanding Unamortized Debt Costs	11,665,000	12,286,000
Senior Debt, Outstanding Carrying Value	1,688,335,000	1,687,714,000
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	885,000	1,003,000
Senior Debt, Outstanding Carrying Value	399,115,000	398,997,000
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	1,528,000	1,625,000
Senior Debt, Outstanding Carrying Value	298,472,000	298,375,000
Lazard Group 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000,000
Senior Debt, Maturity Date	Sep. 19, 2028
Senior Debt, Annual Interest Rate	4.50%
Senior Debt, Outstanding Principal	$ 500,000,000	500,000,000
Senior Debt, Outstanding Unamortized Debt Costs	4,651,000	4,864,000
Senior Debt, Outstanding Carrying Value	495,349,000	495,136,000
Lazard Group 4.375% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Debt, Initial Principal Amount	$ 500,000,000
Senior Debt, Maturity Date	Mar. 11, 2029
Senior Debt, Annual Interest Rate	4.375%
Senior Debt, Outstanding Principal	$ 500,000,000	500,000,000
Senior Debt, Outstanding Unamortized Debt Costs	4,601,000	4,794,000
Senior Debt, Outstanding Carrying Value	$ 495,399,000	$ 495,206,000

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

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

	March 31, 2023
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Debt	$	4,116	$	-	$	-	$	-	$	4,116
Equities		51,454		-		634		-		52,088
Funds:
Alternative investments		28,066		-		-		42,167		70,233
Debt		205,696		-		-		5		205,701
Equity		358,160		-		-		42		358,202
Private equity		-		-		19,139		32,389		51,528
Derivatives		-		3,991		-		-		3,991
Total	$	647,492	$	3,991	$	19,773	$	74,603	$	745,859
Liabilities:
Securities sold, not yet purchased	$	4,106	$	-	$	-	$	-	$	4,106
Contingent consideration liability		-		-		6,342		-		6,342
Derivatives		-		368,452		-		-		368,452
Total	$	4,106	$	368,452	$	6,342	$	-	$	378,900

	December 31, 2022
	Level 1		Level 2		Level 3		NAV		Total
Assets:
Investments:
Equities	$	43,243	$	-	$	646	$	-	$	43,889
Funds:
Alternative investments		27,073		-		-		29,874		56,947
Debt		178,552		-		-		4		178,556
Equity		350,242		-		-		40		350,282
Private equity		-		-		18,772		35,050		53,822
Derivatives		-		14,554		-		-		14,554
Total	$	599,110	$	14,554	$	19,418	$	64,968	$	698,050
Liabilities:
Securities sold, not yet purchased	$	4,651	$	-	$	-	$	-	$	4,651
Derivatives		115		327,045		-		-		327,160
Total	$	4,766	$	327,045	$	-	$	-	$	331,811

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 three month periods ended March 31, 2023 and 2022:

	Three Months Ended March 31, 2023
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)		Purchases/ Acquisitions/ Issuances		Sales/ Settlements			Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	646	$	1	$	-	$	-		$	(13	)	$	634
Private equity funds		18,772		-		-		-			367			19,139
Total Level 3 assets	$	19,418	$	1	$	-	$	-		$	354		$	19,773

Liabilities:
Contingent consideration liability	$	-	$	33	$	7,754	$	(1,445	)	$	-		$	6,342
Total Level 3 liabilities	$	-	$	33	$	7,754	$	(1,445	)	$	-		$	6,342

	Three Months Ended March 31, 2022
	Beginning Balance		Net Unrealized/ Realized Gains/Losses Included In Earnings (a)		Purchases/ Issuances		Sales/ Settlements			Foreign Currency Translation Adjustments			Ending Balance
Assets:
Investments:
Equities	$	578	$	7	$	-	$	-		$	(10	)	$	575
Private equity funds		293		-		-		(13	)		(6	)		274
Total Level 3 assets	$	871	$	7	$	-	$	(13	)	$	(16	)	$	849

(a)

Fair Value of Certain Investments Based on NAV

The following tables present, at March 31, 2023 and December 31, 2022, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:

March 31, 2023

Investments Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

41,526

(a)

30-60 days

Other

641

(b)

<30-30 days

Debt funds

(c)

<30 days

Equity funds

(d)

<30-60 days

Private equity funds:

Equity growth

32,389

5,455

(e)

100%

(f)

Total

74,603

5,455

(a)	monthly (73%) and quarterly (27%)

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

(c)	daily (100%)

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

(e)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,003 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

(f)	Distributions from each fund will be received as the underlying investments of the funds are liquidated.

December 31, 2022

Investments Redeemable

Fair Value

Unfunded

Commitments

% of

Fair Value

Not

Redeemable

Redemption

Frequency

Redemption

Notice Period

Alternative investment funds:

Hedge funds

29,259

(a)

30-60 days

Other

615

(b)

<30-30 days

Debt funds

(c)

<30 days

Equity funds

(d)

<30-60 days

Private equity funds:

Equity growth

35,050

5,455

(e)

100

(f)

Total

64,968

5,455

(a)	monthly (68%) and quarterly (32%)

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

(c)	daily (100%)

(d)	monthly (35%) and annually (65%)

(e)	Unfunded commitments to private equity investments consolidated but not owned by Lazard of $8,003 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.

(f)	Distributions from each fund will be received as the underlying investments of the funds are liquidated.

Condensed Consolidated Statement of Changes in Stockholders' Equity and Redeemable Noncontrolling Interest (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Stockholders Equity [Abstract]
Class A common stock dividends	$ 0.50	$ 0.47
Tax expense (benefit) related to delivery of Class A Common Stock in connection with share-based incentive compensation	$ 392	$ (6,137)

Incentive Plans - Summary of Activity Relating to PIPRs, including PRPUs (Parenthetical) (Detail) - $ / shares		3 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Dec. 31, 2022
PRPUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Granted target number	2,447,224	1,474,002
Units, Settled		973,222
Weighted average grant date fair value		$ 39.31	$ 40.29
Weighted Average Grant Date Fair Value, Settled		41.76
Other Profits Interest Participation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value		37.19	$ 39.96
Weighted Average Grant Date Fair Value, Granted		35.94
Weighted Average Grant Date Fair Value, Settled		$ 42.89

Receivables and Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	$ 96,611	$ 97,964
Customers and other	188,296	160,897
Aggregate carrying amount of other fees and customers and other receivables	472,850	425,904
Customer and Other Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customers and other	$ 128,666	$ 128,890

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	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	$ 741,868	$ 683,496
Derivative Assets	3,991	14,554
Total investments measured at fair value	745,859	698,050
Securities sold, not yet purchased	4,106	4,651
Contingent consideration liability	6,342
Derivative Liabilities	368,452	327,160
Total of Liabilities Measured at Fair Value	378,900	331,811
Level 1 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total investments measured at fair value	647,492	599,110
Securities sold, not yet purchased	4,106	4,651
Derivative Liabilities		115
Total of Liabilities Measured at Fair Value	4,106	4,766
Level 2 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative Assets	$ 3,991	$ 14,554
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Total investments measured at fair value	$ 3,991	$ 14,554
Derivative Liabilities	368,452	327,045
Total of Liabilities Measured at Fair Value	368,452	327,045
Level 3 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total investments measured at fair value	19,773	19,418
Contingent consideration liability	6,342
Total of Liabilities Measured at Fair Value	6,342
NAV [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total investments measured at fair value	74,603	64,968
Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	4,116
Debt [Member] \| Level 1 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	4,116
Equities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	52,088	43,889
Equities [Member] \| Level 1 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	51,454	43,243
Equities [Member] \| Level 3 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	634	646
Alternative Investment Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	70,233	56,947
Alternative Investment Funds [Member] \| Level 1 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	28,066	27,073
Alternative Investment Funds [Member] \| NAV [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	42,167	29,874
Debt Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	205,701	178,556
Debt Funds [Member] \| Level 1 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	205,696	178,552
Debt Funds [Member] \| NAV [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	5	4
Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	358,202	350,282
Equity Funds [Member] \| Level 1 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	358,160	350,242
Equity Funds [Member] \| NAV [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	42	40
Private Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	51,528	53,822
Private Equity Funds [Member] \| Level 3 [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	19,139	18,772
Private Equity Funds [Member] \| NAV [Member] \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investments at fair value	$ 32,389	$ 35,050

Organization and Basis of Presentation - Additional Information (Detail) $ in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 23, 2023 USD ($)	Feb. 28, 2021 USD ($)	Mar. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)
Organization And Basis Of Presentation [Line Items]
Governing operating agreement, date				Feb. 04, 2019
Operating agreement, amended and restated date			Jan. 01, 2023
Number of business segments \| Segment			2
Redeemable noncontrolling interests			$ 89,472	$ 583,471
LGAC Warrants [Member]
Organization And Basis Of Presentation [Line Items]
Distribution of cash held in trust account due to liquidation of special purpose acquisition entity	$ 585,891
Redemption rights or liquidating distributions relating to LGAC warrants			0
LGAC [Member] \| Revenue-Other [Member]
Organization And Basis Of Presentation [Line Items]
Losses recognized on the liquidation of a special purpose acquisition entity			17,929
LGAC [Member]
Organization And Basis Of Presentation [Line Items]
LGAC IPO		$ 575,000
Redeemable noncontrolling interests				$ 583,471
LGAC [Member] \| Net Underwriting Fee [Member]
Organization And Basis Of Presentation [Line Items]
Net underwriting fee associated with the IPO of a special purpose acquisition company		8,500
LGAC [Member] \| Non-cash Deferred Underwriting Fees [Member]
Organization And Basis Of Presentation [Line Items]
Deferred costs associated with IPO of special purpose acquisition entity		20,125	$ 20,125
LGAC [Member] \| Other Offering Cost [Member]
Organization And Basis Of Presentation [Line Items]
Other offering costs associated with IPO of special purpose acquisition entity		$ 852
Lazard Group LLC [Member]
Organization And Basis Of Presentation [Line Items]
Percentage of common membership interests held			100.00%	100.00%

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (15,199)	$ 120,975
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Currency translation adjustments	14,539	(18,068)
Employee benefit plans:
Actuarial gain (loss) (net of tax expense (benefit) of $(595) and $788 for the three months ended March 31, 2023 and 2022, respectively)	(2,801)	3,439
Adjustment for items reclassified to earnings (net of tax expense of $376 and $267 for the three months ended March 31, 2023 and 2022, respectively)	1,160	849
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	12,898	(13,780)
COMPREHENSIVE INCOME (LOSS)	(2,301)	107,195
LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	6,974	7,098
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO LAZARD LTD	$ (9,275)	$ 100,097

Stockholders' Equity and Redeemable Noncontrolling Interests

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stockholders' Equity and Redeemable Noncontrolling Interests

11.	STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS

Share Repurchase Program—Since 2021 and through the three month period ended March 31, 2023, the Board of Directors of Lazard authorized the repurchase of Lazard Ltd Class A common stock (“common stock”), the only class of common stock of Lazard outstanding as set forth in the table below:

Date	Repurchase Authorization		Expiration
April 2021	$	300,000	December 31, 2022
February 2022	$	300,000	December 31, 2024
July 2022	$	500,000	December 31, 2024

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, as amended (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:

Three Months Ended March 31:

Number of

Purchased

Average

Price Per

2022

4,717,821

37.26

2023

2,692,161

36.75

During the three month periods ended March 31, 2023 and 2022, certain of our executive officers received 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 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 three month period ended March 31, 2023, the Company purchased shares of common stock from certain of our executive officers. There were no such purchases (other than for taxes) during the three month period ended March 31, 2022. The aggregate value of all such purchases during the three month periods ended March 31, 2023 and 2022 was approximately $11,100 and $11,500, respectively. Such shares of common stock are reported at cost.

As of March 31, 2023, a total of $203,220 of share repurchase authorization remained available under Lazard Ltd’s share repurchase program, which authorization will expire on December 31, 2024.

During the three month period ended March 31, 2023, 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.

Preferred Stock—Lazard Ltd has 15,000,000 authorized shares of preferred stock, par value $0.01 per share, inclusive of its Series A and Series B preferred stock. Series A and Series B preferred shares were issued in connection with certain prior year business acquisitions and were each non-participating securities convertible into common stock, and had no voting or dividend rights. As of both March 31, 2023 and December 31, 2022, no shares of Series A or Series B preferred stock were outstanding.

Accumulated Other Comprehensive Income (Loss) (“AOCI”), Net of Tax—The tables below reflect the balances of each component of AOCI at March 31, 2023 and 2022 and activity during the three month periods then ended:

	Three Months Ended March 31, 2023
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Ltd AOCI
Balance, January 1, 2023	$	(156,924	)	$	(138,930	)	$	(295,854	)	$	-	$	(295,854	)
Activity:
Other comprehensive income (loss) before reclassifications		14,539			(2,801	)		11,738			1		11,737
Adjustments for items reclassified to earnings, net of tax		-			1,160			1,160			-		1,160
Net other comprehensive income (loss)		14,539			(1,641	)		12,898			1		12,897
Balance, March 31, 2023	$	(142,385	)	$	(140,571	)	$	(282,956	)	$	1	$	(282,957	)

	Three Months Ended March 31, 2022
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2022	$	(92,178	)	$	(131,669	)	$	(223,847	)	$	-		$	(223,847	)
Activity:
Other comprehensive income (loss) before reclassifications		(18,068	)		3,439			(14,629	)		(1	)		(14,628	)
Adjustments for items reclassified to earnings, net of tax		-			849			849			-			849
Net other comprehensive income (loss)		(18,068	)		4,288			(13,780	)		(1	)		(13,779	)
Balance, March 31, 2022	$	(110,246	)	$	(127,381	)	$	(237,627	)	$	(1	)	$	(237,626	)

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2023 and 2022:

	Three Months Ended
	March 31,
	2023		2022
Employee benefit plans:
Amortization relating to employee benefit plans (a)	$	1,536	$	1,116
Less - related income taxes		376		267
Total reclassifications, net of tax	$	1,160	$	849

(a)	Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “operating expenses—other” on the condensed 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, (ii) profits interest participation rights (see Note 12), (iii) LGAC interests (see Note 1) and (iv) consolidated VIE interests held by employees (see Note 19).

The tables below summarize net income (loss) attributable to noncontrolling interests for the three month periods ended March 31, 2023 and 2022 and noncontrolling interests as of March 31, 2023 and December 31, 2022 in the Company’s condensed consolidated financial statements:

	Net Income (Loss) Attributable to Noncontrolling Interests
	Three Months Ended
	March 31,
	2023		2022
Edgewater	$	639	$	6,988
LFI Consolidated Funds		4,365		(2,751	)
LGAC		1,968		2,860
Other		1		2
Total	$	6,973	$	7,099

	Noncontrolling Interests as of
	March 31,		December 31,
	2023		2022
Edgewater	$	43,280	$	44,681
Profits interest participation rights		13,690		10,792
LFI Consolidated Funds		-		74,164
LGAC		-		(10,714	)
Other		13		13
Total	$	56,983	$	118,936

Redeemable Noncontrolling Interests—Redeemable noncontrolling interests principally represent LGAC interests as of December 31, 2022 (see Note 1) and consolidated VIE interests held by employees as of March 31, 2023 (see Note 19). Consolidated VIE interests held by employees (vested LFI awards), which may be redeemed at any time at the option of the holder for cash, are recorded on the Company’s condensed consolidated statements of financial position at redemption value and classified as temporary equity. Changes in redemption value are recognized immediately as they occur and will adjust the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period.

Dividends Declared, April 26, 2023—On, April 26, 2023, the Board of Directors of Lazard declared a quarterly dividend of $0.50 per share on our common stock. The dividend is payable on May 19, 2023, to stockholders of record on May 8, 2023.

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Receivables and Allowance for Credit Losses

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Receivables and Allowance for Credit Losses

3.	RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES

The Company’s receivables represent fee receivables, amounts due from customers and other receivables. Where applicable, receivables are stated net of an estimated allowance for credit losses determined in accordance with the current expected credit losses (“CECL”) model, for general credit risk of the overall portfolio and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute.

Activity in the allowance for credit losses for the three month periods ended March 31, 2023 and 2022 was as follows:

	Three Months Ended
	March 31,
	2023			2022
Beginning Balance	$	17,738		$	33,957
Bad debt expense, net of reversals		7,825			519
Charge-offs, foreign currency translation and other adjustments		(634	)		(663	)
Ending Balance	$	24,929		$	33,813

Bad debt expense, net of reversals represents the current period provision of expected credit losses and is included in “operating expenses–other” on the condensed consolidated statements of operations.

Of the Company’s fee receivables at March 31, 2023 and December 31, 2022, $96,611 and $97,964, respectively, represented financing receivables for our Private Capital Advisory fees.

At March 31, 2023 and December 31, 2022, customers and other receivables included $128,666 and $128,890, respectively, of customer loans, which are fully collateralized and closely monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of March 31, 2023 and December 31, 2022.

The aggregate carrying amount of other fees and customers and other receivables was $472,850 and $425,904 at March 31, 2023 and December 31, 2022, respectively.

The allowance for credit losses is substantially all related to M&A and Restructuring fee receivables and other receivables.

Net Income Per Share of Common Stock

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Net Income Per Share of Common Stock

15.	NET INCOME PER SHARE OF COMMON STOCK

The Company issued certain profits interest participation rights, including certain PRPUs, that the Company is required under U.S. GAAP to treat as participating securities and therefore the Company is required to utilize the “two-class” method of computing basic and diluted net income per share.

The Company’s basic and diluted net income per share calculations using the “two-class” method for the three month periods ended March 31, 2023 and 2022 are presented below:

	Three Months Ended
	March 31,
	2023			2022
Net income attributable to Lazard Ltd	$	(22,172	)	$	113,876
Add - adjustment for earnings attributable to participating securities		(1,125	)		(1,733	)
Net income attributable to Lazard Ltd - basic		(23,297	)		112,143
Add - adjustment for earnings attributable to participating securities		-			1,129
Net income attributable to Lazard Ltd - diluted	$	(23,297	)	$	113,272
Weighted average number of shares of common stock outstanding		85,734,443			100,634,720
Add - adjustment for shares of common stock issuable on a non-contingent basis		1,857,409			1,912,557
Weighted average number of shares of common stock outstanding - basic		87,591,852			102,547,277
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		-			5,639,365
Weighted average number of shares of common stock outstanding - diluted		87,591,852			108,186,642
Net income attributable to Lazard Ltd per share of common stock:
Basic	$	(0.27	)	$	1.09
Diluted	$	(0.27	)	$	1.05

Incentive Plans - Summary of Activity Relating to PIPRs, including PRPUs (Detail) - Profits Interest Participation Rights, Including PRPUs [Member]

3 Months Ended

Mar. 31, 2023

$ / shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Units, Beginning Balance | shares

4,131,628

Units, Granted | shares

1,238,074

Units, Settled | shares

(1,521,620)

Units, Ending Balance | shares

3,848,082

Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares

$ 40.15

Weighted Average Grant Date Fair Value, Granted | $ / shares

35.94

Weighted Average Grant Date Fair Value, Settled | $ / shares

42.17

Weighted Average Grant Date Fair Value, Ending Balance | $ / shares

$ 38.00

^[1]

[1]

Incentive Plans - Summary of Activity Relating to PRSUs (Detail) - PRSUs [Member]	Mar. 31, 2023 $ / shares shares
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance \| shares	94,690
Units, Ending Balance \| shares	94,690
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 39.27
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 39.27

Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	Apr. 29, 2021	Apr. 24, 2018	Mar. 31, 2023	Mar. 31, 2022
Lazard Fund Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, years			1 year
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
Number of dividend participation rights issued			169,034
Charges to retained earnings, net of estimated forfeitures			$ 6,190
Weighted-average grant date fair value of awards granted			$ 37.44	$ 33.09
Unrecognized compensation expense			$ 223,576
Unrecognized compensation expense, years			1 year
DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of awards granted			$ 37.85	37.95
DSUs [Member] \| Non-Executive [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted under the directors deferred unit plan			4,774
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of awards granted			$ 37.75	33.17
Unrecognized compensation expense			$ 34,585
Unrecognized compensation expense, years			1 year
Dividend participation rights			25,258
Charges to retained earnings, net of estimated forfeitures			$ 929
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of awards granted				35.44
Unrecognized compensation expense			$ 2,884
Unrecognized compensation expense, years			8 months 12 days
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 common stock subject to each PRSU is one; however, based on the achievement of both the performance-based and market-based criteria, the number of shares of common stock that may be received will range from zero to 2.4 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
Weighted-average grant date fair value of awards granted			$ 35.94	$ 34.53
Unrecognized compensation expense			$ 52,715
Unrecognized compensation expense, years			9 months 18 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 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 common stock that may be received in connection with the PRPU awards granted prior to February 2021 will range from zero to two times the target number. For the PRPU awards granted beginning in February 2021, subject to both performance-based and incremental market-based criteria, the number of shares that may be received will range from zero to 2.4 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%
Common Stock [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery			1,094,533
Delivery of common stock associated with stock awards			1,659,083
Common Stock [Member] \| RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholding taxes in lieu of share delivery			113,753
Delivery of common stock associated with stock awards			183,389
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
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	20,000,000
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
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

Revenue Recognition - Representation of Performance Obligations Relate to Nature, Amount, Timing and Uncertainty of Revenue and Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financial Advisory Segment [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	$ 277,574	$ 390,215
Asset Management Segment [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	284,044	338,501
Asset Management Segment [Member] \| Management Fees and Other [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	278,598	313,336
Asset Management Segment [Member] \| Incentive Fees [Member]
Disaggregation Of Revenue [Line Items]
Net Revenue	$ 5,446	$ 25,165

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Consolidated VIEs - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments	$ 741,868	$ 698,977
Lazard Fund Interests [Member] \| Lazard Group LLC [Member]
Variable Interest Entity [Line Items]
Investments	$ 131,672	$ 115,666

Incentive Plans - Summary of LFI and Other Similar Deferred Compensation Arrangements (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Beginning Balance, Derivative Liability	$ 327,160
Ending balance, Derivative Liability	368,452
LFI and Other Similar Deferred Compensation Arrangements [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Beginning Balance, Prepaid Compensation Asset	112,124
Prepaid Compensation Asset, Granted	159,981
Prepaid Compensation Asset, Forfeited	2,510
Prepaid Compensation Asset, Amortization	(34,942)
Prepaid Compensation Asset, Other	72
Ending Balance, Prepaid Compensation Asset	239,745
Beginning Balance, Derivative Liability	326,282
Compensation Liability, Granted	159,981
Compensation Liability, Settled	(137,633)
Compensation Liability, Forfeited	(1,018)
Compensation Liability, Change in Fair Value	16,453
Compensation Liability, Adjustment for estimated forfeitures	3,114
Compensation Liability, Other	355
Ending balance, Derivative Liability	$ 367,534

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Oct. 26, 2015	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Fees receivable		$ 509,831		$ 491,861
Benefit pursuant to tax receivable agreement		40,435
Payments for tax receivable agreement obligation		32,191	$ 20,945
Sponsored Funds [Member]
Related Party Transaction [Line Items]
Revenue		$ 133,523	$ 164,371
Type of Revenue [Extensible List]		Asset Management Fees [Member]	Asset Management Fees [Member]
Fees receivable		$ 58,596		57,283
LTBP Trust [Member]
Related Party Transaction [Line Items]
Amount of cash savings in income or franchise tax that would be realized as a result of increases in tax basis and certain other tax benefits related to the amended and restated tax receivable agreement	45.00%
Cash tax saving that may arise from tax basis increases attributable to payments under the amended and restated tax receivable agreement	85.00%
Tax receivable agreement date	Oct. 26, 2015
Cumulative liability relating to obligations under Amended and Restated Tax Receivable Agreement		118,563		$ 191,189
Benefit pursuant to tax receivable agreement		40,435
Payments for tax receivable agreement obligation		$ 32,191
Amended and Restated Tax Receivable Agreement [Member]
Related Party Transaction [Line Items]
Tax agreement termination year		2033

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
Tax expense (benefit) on actuarial gain (loss), employee benefit plans	$ (595)	$ 788
Tax expense, adjustment for items reclassified to earnings, employee benefit plans	$ 376	$ 267

Receivables and Allowance for Credit Losses - Schedule of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allowance For Doubtful Accounts Receivable Rollforward
Allowance for credit losses receivables, Beginning balance	$ 17,738	$ 33,957
Bad debt expense, net of reversals	7,825	519
Charge-offs, foreign currency translation and other adjustments	(634)	(663)
Allowance for credit losses receivables, Ending balance	$ 24,929	$ 33,813

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION:
Cash and cash equivalents	$ 596,601	$ 1,234,773
Deposits with banks and short-term investments	522,560	779,246
Restricted cash	36,985	625,381
TOTAL CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	$ 1,156,146	$ 2,639,400	$ 3,131,911	$ 3,430,014

Investments

3 Months Ended

Mar. 31, 2023

Schedule Of Investments [Abstract]

Investments

4.	INVESTMENTS

The Company’s investments and securities sold, not yet purchased, consist of the following at March 31, 2023 and December 31, 2022:

	March 31,		December 31,
	2023		2022
Debt	$	4,116	$	-
Equities		52,088		43,889
Funds:
Alternative investments (a)		70,233		56,947
Debt (a)		205,701		178,556
Equity (a)		358,202		350,282
Private equity		51,528		53,822
		685,664		639,607
Investments, at fair value		741,868		683,496
Equity method investments		-		15,481
Total investments	$	741,868	$	698,977
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,106	$	4,651

(a)

Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 19), with fair values of $27,038, $176,210 and $294,278, respectively, at March 31, 2023 and $24,137, $142,632 and $266,528, respectively, at December 31, 2022, held in order to satisfy the Company’s obligation upon vesting of previously granted Lazard Fund Interests (“LFI”) and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 6 and 12).

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, (ii) a fund targeting significant noncontrolling-stake investments in established private companies and (iii) a seed investment in a fund related to our Asset Management business that invests in sustainable private infrastructure opportunities.

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”).

Equity method investments represent certain partnership interests accounted for under the equity method of accounting.

During the three month periods ended March 31, 2023 and 2022, the Company reported in “revenue-other” on its condensed 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:

	Three Months Ended
	March 31,
	2023		2022
Net unrealized investment gains (losses)	$	24,787	$	(40,867	)

Commitments and Contingencies - Additional Information (Detail)	Mar. 31, 2023 USD ($)
LFB [Member]
Other Commitments [Line Items]
Other commitments	$ 0
LFNY [Member]
Other Commitments [Line Items]
Other commitments	$ 0

Derivatives - Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives instruments	$ (22,654)	$ 26,327
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other
Forward Foreign Currency Exchange Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ 94	$ 1,906
LFI and Other Similar Deferred Compensation Arrangements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	(16,453)	14,323
LGAC Warrants [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	115	3,910
Total Return Swaps and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as hedging instruments	$ (6,410)	$ 6,188

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

8.	GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at March 31, 2023 and December 31, 2022 are presented below:

	March 31,		December 31,
	2023		2022
Goodwill	$	394,185	$	377,240
Other intangible assets (net of accumulated amortization)		75		90
	$	394,260	$	377,330

At March 31, 2023 and December 31, 2022, goodwill of $312,938 and $312,699, respectively, was attributable to the Company’s Financial Advisory segment and, goodwill of $81,247 and $64,541, respectively, was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the three month periods ended March 31, 2023 and 2022 are as follows:

	March 31,
	2023		2022
Balance, January 1	$	377,240	$	379,421
Acquisition of business		16,706		-
Foreign currency translation adjustments		239		59
Balance, March 31	$	394,185	$	379,480

The acquisition in the three month period ended March 31, 2023 was attributable to the Company’s Asset Management segment. All other changes in the carrying amount of goodwill for the three month periods ended March 31, 2023 and 2022 are attributable to the Company’s Financial Advisory segment.

Amortization expense of intangible assets, included in “amortization and other acquisition-related costs” in the condensed consolidated statements of operations, for both three month periods ended March 31, 2023 and 2022 was $15.

Senior Debt - Additional Information (Detail) - USD ($)		3 Months Ended
Senior Debt - Additional Information (Detail) - USD ($)	Jul. 22, 2020	Mar. 31, 2023	Dec. 31, 2022
Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Senior revolving credit facility, initiation date	Jul. 22, 2020
Senior revolving credit facility	$ 200,000,000
Duration of senior revolving credit facility, in years	3 years
Expiration of credit facility	2023-07
Interest rate description		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.
Outstanding credit facility		$ 0	$ 0
Senior Debt [Member]
Debt Instrument [Line Items]
Fair value of senior debt		1,626,000,000	$ 1,602,000,000
Unused Lines of Credit [Member]
Debt Instrument [Line Items]
Unused lines of credit		$ 209,200,000

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Allowance for credit losses receivables	$ 24,929	$ 17,738
Property, accumulated amortization and depreciation	402,142	395,109
Other intangible assets, accumulated amortization	$ 70,131	$ 70,118
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	112,766,091	112,766,091
Common stock held by subsidiaries, shares	26,100,898	26,814,213
Series A Preferred Stock [Member]
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2023

Revenue Recognition [Abstract]

Revenue Based on Business Segment Results

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:

	Three Months Ended
	March 31,
	2023		2022
Net Revenue:
Financial Advisory (a)	$	277,574	$	390,215

Asset Management:
Management fees and other (b)	$	278,598	$	313,336
Incentive fees (c)		5,446		25,165
Total Asset Management	$	284,044	$	338,501

(a)

Financial Advisory is comprised of a wide array of financial advisory services regarding M&A advisory, capital markets advisory, shareholder advisory, restructuring and capital solutions, sovereign advisory, geopolitical advisory, capital raising and placement, 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 may 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.

Stockholders' Equity and Redeemable Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of Share Repurchase Authorized by Board of Directors

Date	Repurchase Authorization		Expiration
April 2021	$	300,000	December 31, 2022
February 2022	$	300,000	December 31, 2024
July 2022	$	500,000	December 31, 2024

Schedule of Shares Repurchased Under the Share Repurchase Program

Three Months Ended March 31:

Number of

Purchased

Average

Price Per

2022

4,717,821

37.26

2023

2,692,161

36.75

Accumulated Other Comprehensive Income (Loss), Net of Tax

	Three Months Ended March 31, 2023
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests		Total Lazard Ltd AOCI
Balance, January 1, 2023	$	(156,924	)	$	(138,930	)	$	(295,854	)	$	-	$	(295,854	)
Activity:
Other comprehensive income (loss) before reclassifications		14,539			(2,801	)		11,738			1		11,737
Adjustments for items reclassified to earnings, net of tax		-			1,160			1,160			-		1,160
Net other comprehensive income (loss)		14,539			(1,641	)		12,898			1		12,897
Balance, March 31, 2023	$	(142,385	)	$	(140,571	)	$	(282,956	)	$	1	$	(282,957	)

	Three Months Ended March 31, 2022
	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2022	$	(92,178	)	$	(131,669	)	$	(223,847	)	$	-		$	(223,847	)
Activity:
Other comprehensive income (loss) before reclassifications		(18,068	)		3,439			(14,629	)		(1	)		(14,628	)
Adjustments for items reclassified to earnings, net of tax		-			849			849			-			849
Net other comprehensive income (loss)		(18,068	)		4,288			(13,780	)		(1	)		(13,779	)
Balance, March 31, 2022	$	(110,246	)	$	(127,381	)	$	(237,627	)	$	(1	)	$	(237,626	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2023 and 2022:

	Three Months Ended
	March 31,
	2023		2022
Employee benefit plans:
Amortization relating to employee benefit plans (a)	$	1,536	$	1,116
Less - related income taxes		376		267
Total reclassifications, net of tax	$	1,160	$	849

(a)	Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “operating expenses—other” on the condensed consolidated statements of operations.

Net Income (Loss) Attributable to Noncontrolling Interests

	Net Income (Loss) Attributable to Noncontrolling Interests
	Three Months Ended
	March 31,
	2023		2022
Edgewater	$	639	$	6,988
LFI Consolidated Funds		4,365		(2,751	)
LGAC		1,968		2,860
Other		1		2
Total	$	6,973	$	7,099

	Noncontrolling Interests as of
	March 31,		December 31,
	2023		2022
Edgewater	$	43,280	$	44,681
Profits interest participation rights		13,690		10,792
LFI Consolidated Funds		-		74,164
LGAC		-		(10,714	)
Other		13		13
Total	$	56,983	$	118,936

Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

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

		Three Months Ended
		March 31,
		2023			2022
Financial Advisory	Net Revenue	$	277,574		$	390,215
	Operating Expenses		328,735			298,258
	Operating Income (Loss)	$	(51,161	)	$	91,957
Asset Management	Net Revenue	$	284,044		$	338,501
	Operating Expenses		248,051			241,516
	Operating Income	$	35,993		$	96,985
Corporate	Net Revenue (Loss)	$	(19,182	)	$	(33,824	)
	Operating Expenses (Credit)		2,574			(4,610	)
	Operating Loss	$	(21,756	)	$	(29,214	)
Total	Net Revenue	$	542,436		$	694,892
	Operating Expenses		579,360			535,164
	Operating Income (Loss)	$	(36,924	)	$	159,728

	As Of
	March 31, 2023		December 31, 2022
Total Assets
Financial Advisory	$	1,145,663	$	1,099,921
Asset Management		860,230		978,083
Corporate		2,561,624		3,774,557
Total	$	4,567,517	$	5,852,561

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2023 shares
RSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Dividend participation rights	169,034

Regulatory Authorities - Additional Information (Detail) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
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	48,294,000
Regulatory capital in excess of minimum requirement	$ 43,030,000
Aggregate indebtedness to net capital ratio	1.63
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	$ 181,434,000
Regulatory capital in excess of minimum requirement	122,490,000
CFLF [Member]
Regulatory Requirements [Line Items]
Regulatory capital		$ 152,442,000
Regulatory capital in excess of minimum requirement		74,403,000
Combined European Regulated Group [Member]
Regulatory Requirements [Line Items]
Regulatory capital		176,343,000
Regulatory capital in excess of minimum requirement		$ 89,905,000
Other U.S. and Non-U.S. Subsidiaries [Member]
Regulatory Requirements [Line Items]
Regulatory capital	150,254,000
Regulatory capital in excess of minimum requirement	$ 123,459,000

Stockholders' Equity and Redeemable Noncontrolling Interests - Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 675,399	$ 1,077,964
Other comprehensive income (loss) before reclassifications	11,738	(14,629)
Adjustments for items reclassified to earnings, net of tax	1,160	849
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	12,898	(13,780)
Balance	508,409	969,628
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(156,924)	(92,178)
Other comprehensive income (loss) before reclassifications	14,539	(18,068)
Adjustments for items reclassified to earnings, net of tax	0	0
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	14,539	(18,068)
Balance	(142,385)	(110,246)
Employee Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(138,930)	(131,669)
Other comprehensive income (loss) before reclassifications	(2,801)	3,439
Adjustments for items reclassified to earnings, net of tax	1,160	849
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(1,641)	4,288
Balance	(140,571)	(127,381)
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	1	(1)
Adjustments for items reclassified to earnings, net of tax	0	0
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	1	(1)
Balance	1	(1)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(295,854)	(223,847)
Other comprehensive income (loss) before reclassifications	11,737	(14,628)
Adjustments for items reclassified to earnings, net of tax	1,160	849
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	12,897	(13,779)
Balance	(282,957)	(237,626)
Total AOCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(295,854)	(223,847)
Balance	$ (282,956)	$ (237,627)

Related Parties

3 Months Ended

Mar. 31, 2023

Related Parties

16.	RELATED PARTIES

Sponsored Funds

The Company serves as an investment advisor for certain affiliated investment companies and fund entities and receives management fees and, for the alternative investment funds, performance-based incentive fees for providing such services. Investment advisory fees relating to such services were $133,523 and $164,371 for the three month periods ended March 31, 2023 and 2022, respectively, and are included in “asset management fees” on the condensed consolidated statements of operations. Of such amounts, $58,596 and $57,283 remained as receivables at March 31, 2023 and December 31, 2022, respectively, and are included in “fees receivable” on the condensed consolidated statements of financial condition.

Tax Receivable Agreement

The Second Amended and Restated Tax Receivable Agreement, dated as of October 26, 2015 (the “TRA”), between Lazard and LTBP Trust, a Delaware statutory trust (the “Trust”), provides for the payment by our subsidiaries to the Trust of (i) approximately 45% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that we actually realize as a result of the increases in the tax basis of certain assets and of certain other tax benefits related to the TRA, and (ii) an amount that we currently expect will equal 85% of the cash tax savings that may arise from tax basis increases attributable to payments under the TRA. Our subsidiaries expect to benefit from the balance of cash savings, if any, in income tax that our subsidiaries realize from such tax basis increases. Any amount paid by our subsidiaries to the Trust will generally be distributed pro rata to the owners of the Trust, who include certain of our executive officers.

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

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

Pursuant to the periodic revaluation of the TRA liability and the assumptions reflected in the estimate, the revaluation had the effect of reducing the estimated liability under the TRA. As a result, the Company recorded a “benefit pursuant to tax receivable agreement” of $40,435 on the condensed consolidated statement of operations for the three month period ended March 31, 2023. In addition, the Company made a payment under the TRA in the three months ended March 31, 2023 of $32,191.

The cumulative liability relating to our obligations under the TRA as of March 31, 2023 and December 31, 2022 was $118,563 and $191,189, respectively, and is recorded in “tax receivable agreement obligation” on the condensed consolidated statements of financial condition.

Other

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

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value Option Quantitative Disclosures [Line Items]
Transfers into or out of Level 3 in the fair value measurement hierarchy	$ 0	$ 0
Unfunded Commitments	5,455,000		$ 5,455,000
EGCP III [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Unfunded Commitments	$ 5,093,000
End of the investment period	Oct. 12, 2016
Remaining obligation date	Oct. 12, 2023

Incentive Plans - Summary of Activity Related to RSAs (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2023 shares
Restricted Stock [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Dividend participation rights	25,258

Incentive Plans - Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based incentive awards:
Share-based incentive awards	$ 70,534	$ 53,437
RSUs [Member]
Share-based incentive awards:
Share-based incentive awards	43,576	26,659
PRSUs [Member]
Share-based incentive awards:
Share-based incentive awards	789	245
RSAs [Member]
Share-based incentive awards:
Share-based incentive awards	6,926	4,936
Profits Interest Participation Rights [Member]
Share-based incentive awards:
Share-based incentive awards	19,062	21,448
DSUs [Member]
Share-based incentive awards:
Share-based incentive awards	$ 181	$ 149

Consolidated VIEs - Summary of Consolidated VIE Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 596,601	$ 1,234,773
Customers and other receivables	188,296	160,897
Investments	741,868	698,977
Other assets	534,917	394,758
Total Assets	4,567,517	5,852,561
Liabilities:
Deposits and other customer payables	697,088	921,834
Other liabilities	508,206	539,770
Total Liabilities	3,969,636	4,593,691
Consolidated VIEs [Member]
ASSETS
Cash and cash equivalents	3,907	3,644
Customers and other receivables	591	240
Investments	216,862	186,300
Other assets	385	622
Total Assets	221,745	190,806
Liabilities:
Deposits and other customer payables	104	528
Other liabilities	497	448
Total Liabilities	$ 601	$ 976

Senior Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Senior Debt

9.	SENIOR DEBT

Senior debt is comprised of the following as of March 31, 2023 and December 31, 2022:

							Outstanding as of
	Initial			Annual			March 31, 2023						December 31, 2022
	Principal Amount		Maturity Date	Interest Rate(a)			Principal		Unamortized Debt Costs		Carrying Value		Principal		Unamortized Debt Costs		Carrying Value
Lazard Group 2025 Senior Notes	$	400,000	2/13/25		3.75	%	$	400,000	$	885	$	399,115	$	400,000	$	1,003	$	398,997
Lazard Group 2027 Senior Notes		300,000	3/1/27		3.625	%		300,000		1,528		298,472		300,000		1,625		298,375
Lazard Group 2028 Senior Notes		500,000	9/19/28		4.50	%		500,000		4,651		495,349		500,000		4,864		495,136
Lazard Group 2029 Senior Notes		500,000	3/11/29		4.375	%		500,000		4,601		495,399		500,000		4,794		495,206
Total							$	1,700,000	$	11,665	$	1,688,335	$	1,700,000	$	12,286	$	1,687,714

(a)

The Company’s senior debt at March 31, 2023 and December 31, 2022 is carried at their principal balances outstanding, net of unamortized debt costs. At those dates, the fair value of such senior debt was approximately $1,626,000 and $1,602,000, respectively. The fair value of the Company’s senior debt is based on market quotations. The Company’s senior debt would be categorized within Level 2 of the hierarchy of fair value measurements if carried at fair value.

On July 22, 2020, Lazard Group entered into an Amended and Restated Credit Agreement with a group of lenders for a three-year, $200,000 senior revolving credit facility expiring in July 2023 (the “Amended and Restated Credit Agreement”). 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. The Amended and Restated Credit Agreement contains certain covenants, events of default and other customary provisions, including customary LIBOR-replacement mechanics. At March 31, 2023 and December 31, 2022, no amounts were outstanding under the Amended and Restated Credit Agreement.

As of March 31, 2023, the Company had approximately $209,200 in unused lines of credit available to it, including the credit facility provided under the Amended and Restated Credit Agreement.

The Amended and Restated Credit Agreement and 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 March 31, 2023, the Company was in compliance with such provisions. All of the Company’s senior debt obligations are unsecured.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Organization and Basis of Presentation

3 Months Ended

Mar. 31, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

1.	ORGANIZATION AND BASIS OF PRESENTATION

Organization

Lazard Ltd, a Bermuda holding company, and its subsidiaries (collectively referred to as “Lazard Ltd”, “Lazard”, “we” or the “Company”), including Lazard Ltd’s indirect investment in Lazard Group LLC, a Delaware limited liability company (collectively referred to, together with its subsidiaries, as “Lazard Group”), is one of the world’s preeminent financial advisory and asset management firms that specializes 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 March 31, 2023 and December 31, 2022. Lazard Ltd, through its control of the managing members of Lazard Group, controls Lazard Group, which as of December 31, 2022 was governed by an Amended and Restated Operating Agreement dated as of February 4, 2019. Such operating agreement was subsequently amended and restated effective as of January 1, 2023 (as so amended and restated, the “Operating Agreement”).

Lazard Ltd’s primary operating asset is its indirect ownership of the common membership interests of, and managing member interests in, Lazard Group, whose principal operating activities are included in two business segments:

•

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

•

Asset Management, which offers a broad range of global investment solutions and investment and wealth 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 certain assets and liabilities associated with (i) Lazard Group’s Paris-based subsidiary, Lazard Frères Banque SA (“LFB”), and (ii) a special purpose acquisition company that was sponsored by an affiliate of the Company, Lazard Growth Acquisition Corp. I (“LGAC”).

Basis of Presentation

The accompanying condensed consolidated financial statements of Lazard Ltd have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard Ltd’s Annual Report on Form 10-K for the year ended December 31, 2022. The accompanying December 31, 2022 unaudited condensed consolidated statement of financial condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented.

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

The consolidated results of operations for the three month period ended March 31, 2023 are not indicative of the results to be expected for any future interim or annual period.

The condensed consolidated financial statements include Lazard Ltd and its subsidiaries including 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.

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 19).

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.

Lazard Growth Acquisition Corp. I

In February 2021, LGAC consummated its $575,000 initial public offering (the “LGAC IPO”). LGAC is a dormant special purpose acquisition company, that was incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). LGACo 1 LLC, a Delaware series limited liability company and the Company’s subsidiary, was the sponsor of LGAC. LGAC is considered to be a VIE. The Company holds a controlling financial interest in LGAC through the sponsor’s ownership of Class B founder shares of LGAC. As a result, both LGAC and the sponsor are consolidated in the Company’s financial statements.

The proceeds from the LGAC IPO of $575,000 were held in a trust account, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds in the trust account to the LGAC shareholders in connection with the redemption of LGAC’s Class A ordinary shares, subject to certain conditions. The cash held in the trust account was recorded in “restricted cash” on the condensed consolidated statements of financial condition as of December 31, 2022.

Transaction costs, which consisted of a net underwriting fee of $8,500, $20,125 of non-cash deferred underwriting fees (included in “other liabilities” on the condensed consolidated statements of financial condition as of December 31, 2022) and $852 of other offering costs, were charged against the gross proceeds of the LGAC IPO.

“Redeemable noncontrolling interests” of $583,471 associated with the publicly held LGAC Class A ordinary shares were recorded on the Company’s condensed consolidated statements of financial condition as of December 31, 2022 at redemption value and classified as temporary equity. Changes in redemption value are recognized immediately as they occur and will adjust the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable noncontrolling interests shall be affected by credits or charges to additional paid-in-capital and noncontrolling interests attributable to certain members of LGACo 1 LLC based on pro rata ownership.

The warrants exercisable for LGAC Class A ordinary shares that were issued in connection with the LGAC IPO (the “LGAC Warrants”) meet the definition of a liability under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 815 and were classified as derivative liabilities which were remeasured at fair value at each balance sheet date until exercised, with changes in fair value reported to earnings. See Note 6.

On February 23, 2023, LGAC redeemed all of its outstanding publicly held Class A ordinary shares as a result of LGAC not consummating a Business Combination within the time period required by its amended and restated memorandum and articles of association resulting in the distribution of $585,891 of the cash held in the trust account to the LGAC shareholders. The Company recognized $17,929 of losses on the liquidation of LGAC in “revenue-other” on the condensed consolidated statement of operations for the three month period ended March 31, 2023. In addition, the $20,125 of non-cash deferred underwriting fees noted above was no longer probable of being incurred and therefore was reversed from other liabilities to additional paid-in-capital. There were no redemption rights or liquidating distributions with respect to the LGAC warrants.

Fair Value Measurements - Summary of Changes in Fair Value of Company's Level 3 Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other
Level 3 [Member]
Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Net unrealized gains	$ 1	$ 7
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other
Unrealized losses	$ 33

Incentive Plans

3 Months Ended

Mar. 31, 2023

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Incentive Plans

12.	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 three month periods ended March 31, 2023 and 2022 is presented below.

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

The 2018 Plan became effective on April 24, 2018 and was amended on April 29, 2021 to increase the aggregate number of shares authorized for issuance under the 2018 Plan by 20,000,000 shares. The 2018 Plan replaced the 2008 Plan, which was terminated on April 24, 2018. The 2018 Plan originally authorized issuance of up to 30,000,000 shares of common stock, plus any shares of common stock that were subject to outstanding awards under the 2008 Plan as of March 14, 2018 that are forfeited, canceled or settled in cash following April 24, 2018, which was the date that the 2018 Plan was approved by our shareholders. Such shares may be issued pursuant to the grant or exercise of stock options, stock appreciation rights, restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”), restricted stock awards (“RSAs”), 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 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 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 deferred stock unit (“DSU”) 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 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 DSU awards granted under the 2005 Plan before its expiration continue to be subject to its terms.

	Three Months Ended
	March 31,
	2023		2022
Share-based incentive awards:
RSUs	$	43,576	$	26,659
PRSUs		789		245
RSAs		6,926		4,936
Profits interest participation rights		19,062		21,448
DSUs		181		149
Total	$	70,534	$	53,437

The ultimate amount of compensation and benefits expense relating to share-based awards is dependent upon the actual number of shares of 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 common stock (unless the recipient is then eligible for retirement under the Company’s retirement policy) and convert into shares of 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 the applicable vesting period, each RSU is attributed additional RSUs equivalent to any dividends paid on common stock during such period. During the three month period ended March 31, 2023, dividend participation rights required the issuance of 169,034 RSUs and the associated charge to “retained earnings”, net of estimated forfeitures (with corresponding credits to “additional paid-in-capital”) was $6,190.

Non-executive members of the Board of Directors (“Non-Executive Directors”) receive approximately 55% of their annual compensation for service on the Board of Directors and its committees in the form of DSUs. 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 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 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 common stock on the date immediately preceding the date of the grant. During the three month period ended March 31, 2023, 4,774 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 during the three month period ended March 31, 2023:

	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2023		9,022,917		$	37.97		400,820	$	37.66
Granted (including 169,034 RSUs relating to dividend participation)		4,228,611		$	37.44		4,774	$	37.85
Forfeited		(10,572	)	$	38.91		-	$	-
Settled		(2,753,616	)	$	42.55		-	$	-
Balance, March 31, 2023		10,487,340		$	36.55		405,594	$	37.66

The weighted-average grant date fair value of RSUs granted in the three month periods ended March 31, 2023 and 2022, was $37.44 and $33.09, respectively. The weighted-average grant date fair value of DSUs granted in the three month periods ended March 31, 2023 and 2022 was $37.85 and $37.95, respectively.

In connection with RSUs that settled during the three month period ended March 31, 2023, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 1,094,533 shares of common stock during such three month period. Accordingly, 1,659,083 shares of common stock held by the Company were delivered during the three month period ended March 31, 2023.

As of March 31, 2023, estimated unrecognized RSU compensation expense was $223,576, with such expense expected to be recognized over a weighted average period of approximately 1.0 years subsequent to March 31, 2023.

RSAs

The following is a summary of activity related to RSAs associated with compensation arrangements during the three month period ended March 31, 2023:

	RSAs			Weighted Average Grant Date Fair Value
Balance, January 1, 2023		1,266,424		$	36.99
Granted (including 25,258 relating to dividend participation)		600,922		$	37.75
Forfeited		(3,401	)	$	41.41
Settled		(297,142	)	$	42.95
Balance, March 31, 2023		1,566,803		$	36.14

The weighted-average grant date fair value of RSAs granted in the three month periods ended March 31, 2023 and 2022 was $37.75 and $33.17, respectively.

In connection with RSAs that settled during the three month period ended March 31, 2023, the Company satisfied its minimum statutory tax withholding requirements in lieu of delivering 113,753 shares of common stock during such three month period. Accordingly, 183,389 shares of common stock held by the Company were delivered during the three month period ended March 31, 2023.

RSAs granted in 2023 generally include a dividend participation right that provides that during the applicable vesting period each RSA is attributed additional RSAs equivalent to any dividends paid on common stock during such period. During the three month period ended March 31, 2023, dividend participation rights required the issuance of 25,258 RSAs and the associated charge to “retained earnings”, net of estimated forfeitures (with corresponding credits to “additional paid-in-capital”) was $929.

At March 31, 2023, estimated unrecognized RSAs expense was $34,585, with such expense to be recognized over a weighted average period of approximately 1.0 years subsequent to March 31, 2023.

PRSUs

PRSUs are RSUs that are subject to performance-based and service-based vesting conditions, and beginning with awards granted in February 2021, a market-based condition. The number of shares of common stock that a recipient will receive upon vesting of a PRSU will be calculated by reference to certain performance-based and market-based metrics that relate to Lazard Ltd’s performance over a three-year period. The target number of shares of common stock subject to each PRSU is one; however, based on the achievement of both the performance-based and market-based criteria, the number of shares of common stock that may be received will range from zero to 2.4 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. PRSUs include dividend participation rights that are subject to the same vesting restrictions (including performance criteria) as the underlying PRSUs to which they relate and are settled in cash at the same rate that dividends are paid on common stock.

The following is a summary of activity relating to PRSUs during the three month period ended March 31, 2023:

PRSUs

Weighted

Average

Grant Date

Fair Value

Balance, January 1, 2023

94,690

39.27

Balance, March 31, 2023

94,690

39.27

The weighted-average grant date fair value of PRSUs granted in the three month period ended March 31, 2022 was $35.44.

Compensation expense recognized for PRSU awards is determined by multiplying the number of shares of 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 March 31, 2023, the total estimated unrecognized compensation expense was $2,884, and the Company expects to amortize such expense over a weighted-average period of approximately 0.7 years subsequent to March 31, 2023.

Profits Interest Participation Rights

Profits interest participation rights are equity incentive awards that, subject to certain conditions, may be exchanged for shares of common stock pursuant to the 2018 Plan. Prior to 2023, the Company granted profits interest participation rights subject to service-based and performance-based vesting criteria and other conditions, and beginning in February 2021, incremental market-based vesting criteria, which we refer to as performance-based restricted participation units (“PRPUs”), to certain of our executive officers. The Company has also granted profits interest participation rights subject to service-based vesting criteria and other conditions, but not the performance-based and incremental market-based vesting criteria associated with PRPUs, to a limited number of other senior employees, including in March 2023 to certain of our executive officers. 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 Lazard Group that are intended to qualify as “profits interests” for U.S. federal income tax purposes, and are recorded as noncontrolling interests within stockholders’ equity in the Company’s condensed consolidated statements of financial condition until they are exchanged into common stock, at which time there is a reclassification to additional paid-in-capital. 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-based and incremental market-based conditions, are satisfied, and (ii) an amount of economic appreciation in the assets of Lazard Group 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 common stock will be exchanged on a one-for-one basis for shares of common stock. If forfeited based solely on failing to meet the Minimum Value Condition, the associated compensation expense would not be reversed. With regard to the profits interest participation rights granted in February 2020, the Minimum Value Condition was met during the year ended December 31, 2021. On March 8, 2023, the profits interest participation rights granted in February 2020, for which the Minimum Value Condition and other vesting conditions were satisfied, were exchanged on a one-for-one basis for shares of common stock.

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.

The number of shares of common stock that a recipient will receive upon the exchange of a PRPU award is calculated by reference to applicable performance-based conditions and, beginning with PRPUs granted in 2021, incremental market-based conditions and only result in value to the recipient to the extent the conditions are satisfied. The target number of shares of 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 common stock that may be received in connection with the PRPU awards granted prior to February 2021 will range from zero to two times the target number. For the PRPU awards granted beginning in February 2021, subject to both performance-based and incremental market-based criteria, the number of shares that may be received will range from zero to 2.4 times the target number. Unless applicable 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.

The performance metrics applicable to the PRPU awards granted prior to February 2021 were also evaluated on an annual basis at the end of each fiscal year during the performance period, and, if Lazard Ltd achieved a threshold level of performance with respect to the fiscal year, 25% of the target number of PRPUs were no longer 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 common stock.

The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the three month period ended March 31, 2023:

	Profits Interest Participation Rights			Weighted Average Grant Date Fair Value
Balance, January 1, 2023		4,131,628		$	40.15
Granted		1,238,074		$	35.94
Settled		(1,521,620	)	$	42.17
Balance, March 31, 2023 (a)		3,848,082		$	38.00

(a)

The weighted-average grant date fair value of profits interest participation rights granted in the three month periods ended March 31, 2023 and 2022 was $35.94 and $34.53, respectively. Compensation expense recognized for profits interest participation rights, including PRPUs, is determined by multiplying the number of shares of 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 March 31, 2023, the total estimated unrecognized compensation expense was $52,715 and the Company expects to amortize such expense over a weighted-average period of approximately 0.8 years subsequent to March 31, 2023.

LFI and Other Similar Deferred Compensation Arrangements

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

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the three month period ended March 31, 2023:

	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2023	$	112,124		$	326,282
Granted		159,981			159,981
Settled		-			(137,633	)
Forfeited		2,510			(1,018	)
Amortization		(34,942	)		-
Change in fair value related to:
Change in fair value of underlying investments		-			16,453
Adjustment for estimated forfeitures		-			3,114
Other		72			355
Balance, March 31, 2023	$	239,745		$	367,534

The amortization of the prepaid compensation asset will generally be recognized over a weighted average period of approximately 1.0 years subsequent to March 31, 2023.

	Three Months Ended
	March 31,
	2023		2022
Amortization, net of forfeitures	$	34,528	$	35,625
Change in the fair value of underlying investments		16,453		(14,323	)
Total	$	50,981	$	21,302

Organization and Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization

•

Basis of Presentation

The consolidated results of operations for the three month period ended March 31, 2023 are not indicative of the results to be expected for any future interim or annual period.

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

•

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

•

Intercompany transactions and balances have been eliminated.

Lazard Growth Acquisition Corp. I

Revenue Recognition

	Three Months Ended
	March 31,
	2023		2022
Net Revenue:
Financial Advisory (a)	$	277,574	$	390,215

Asset Management:
Management fees and other (b)	$	278,598	$	313,336
Incentive fees (c)		5,446		25,165
Total Asset Management	$	284,044	$	338,501

(a)

(b)

(c)

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.

Receivables and Allowance for Credit Losses

Fair Value Measurement Policy

Level 1.

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

Level 2.

Level 3.

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

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

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.

Derivatives

Share-Based Incentive Plan Awards

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

Employer Contributions to Pension Plans

Investments (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022:

	March 31,		December 31,
	2023		2022
Debt	$	4,116	$	-
Equities		52,088		43,889
Funds:
Alternative investments (a)		70,233		56,947
Debt (a)		205,701		178,556
Equity (a)		358,202		350,282
Private equity		51,528		53,822
		685,664		639,607
Investments, at fair value		741,868		683,496
Equity method investments		-		15,481
Total investments	$	741,868	$	698,977
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,106	$	4,651

(a)

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

	Three Months Ended
	March 31,
	2023		2022
Net unrealized investment gains (losses)	$	24,787	$	(40,867	)

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Detail) - Pension Plans [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Components of Net Periodic Benefit Cost (Credit):
Service cost	$ 98	$ 211
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Compensation and benefits	Compensation and benefits
Interest cost	$ 5,152	$ 3,000
Expected return on plan assets	(5,816)	(6,624)
Amortization of:
Prior service cost	26	29
Net actuarial loss	1,510	1,087
Settlement loss	759	436
Net periodic benefit cost (credit)	$ 1,729	$ (1,861)

Investments - Company's Investments and Securities Sold, Not Yet Purchased (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Total investments	$ 741,868	$ 698,977
Investments, at fair value	741,868	683,496
Securities sold, not yet purchased, at fair value (included in "other liabilities")	4,106	4,651
Debt [Member]
Schedule of Investments [Line Items]
Total investments	4,116
Investments, at fair value	4,116
Equities [Member]
Schedule of Investments [Line Items]
Total investments	52,088	43,889
Investments, at fair value	52,088	43,889
Alternative Investment Funds [Member]
Schedule of Investments [Line Items]
Total investments	70,233	56,947
Investments, at fair value	70,233	56,947
Debt Funds [Member]
Schedule of Investments [Line Items]
Total investments	205,701	178,556
Investments, at fair value	205,701	178,556
Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	358,202	350,282
Investments, at fair value	358,202	350,282
Private Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	51,528	53,822
Investments, at fair value	51,528	53,822
Funds Total [Member]
Schedule of Investments [Line Items]
Total investments	$ 685,664	639,607
Equity Method Investments [Member]
Schedule of Investments [Line Items]
Total investments		$ 15,481

Property, Net (Tables)

3 Months Ended

Mar. 31, 2023

Property Plant And Equipment [Abstract]

Components of Property

At March 31, 2023 and December 31, 2022, property consisted of the following:

	Estimated Depreciable		March 31,		December 31,
	Life in Years		2023		2022
Buildings		33	$	141,428	$	135,103
Leasehold improvements	3-20			253,886		208,323
Furniture and equipment	3-10			239,857		236,194
Construction in progress				12,656		65,562
Total				647,827		645,182
Less - Accumulated depreciation and amortization				402,142		395,109
Property, net			$	245,685	$	250,073

Stockholders' Equity and Redeemable Noncontrolling Interests - Schedule of Share Repurchase Authorized by Board of Directors (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($)
Equity, Class of Treasury Stock [Line Items]
Expiration	Dec. 31, 2024
April, 2021 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2022
February, 2022 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 300,000,000
Expiration	Dec. 31, 2024
July, 2022 [Member]
Equity, Class of Treasury Stock [Line Items]
Share Repurchase Authorization	$ 500,000,000
Expiration	Dec. 31, 2024

Revenue Recognition

3 Months Ended

Mar. 31, 2023

Revenue Recognition [Abstract]

Revenue Recognition

2.	REVENUE RECOGNITION

	Three Months Ended
	March 31,
	2023		2022
Net Revenue:
Financial Advisory (a)	$	277,574	$	390,215

Asset Management:
Management fees and other (b)	$	278,598	$	313,336
Incentive fees (c)		5,446		25,165
Total Asset Management	$	284,044	$	338,501

(a)

(b)

(c)

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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=49130388

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+ Details

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at March 31, 2023 and December 31, 2022 are presented below:

	March 31,		December 31,
	2023		2022
Goodwill	$	394,185	$	377,240
Other intangible assets (net of accumulated amortization)		75		90
	$	394,260	$	377,330

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the three month periods ended March 31, 2023 and 2022 are as follows:

	March 31,
	2023		2022
Balance, January 1	$	377,240	$	379,421
Acquisition of business		16,706		-
Foreign currency translation adjustments		239		59
Balance, March 31	$	394,185	$	379,480

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-Paragraph 1
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+ Details

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
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net Revenue	$ 542,436	$ 694,892
Operating Expenses	579,360	535,164
Operating Income (Loss)	(36,924)	159,728
Total Assets	4,567,517		$ 5,852,561
Operating Segments [Member] \| Financial Advisory Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue	277,574	390,215
Operating Expenses	328,735	298,258
Operating Income (Loss)	(51,161)	91,957
Total Assets	1,145,663		1,099,921
Operating Segments [Member] \| Asset Management Segment [Member]
Segment Reporting Information [Line Items]
Net Revenue	284,044	338,501
Operating Expenses	248,051	241,516
Operating Income (Loss)	35,993	96,985
Total Assets	860,230		978,083
Corporate [Member]
Segment Reporting Information [Line Items]
Net Revenue	(19,182)	(33,824)
Operating Expenses	2,574	(4,610)
Operating Income (Loss)	(21,756)	$ (29,214)
Total Assets	$ 2,561,624		$ 3,774,557

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References + Details

Condensed Consolidated Statement of Changes in Stockholders' Equity and Redeemable Noncontrolling Interest - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In-Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]	Class A Common Stock Held By Subsidiaries [Member]	Total Lazard Ltd Stockholders' Equity [Member]	Noncontrolling Interests [Member]	Redeemable Noncontrolling Interests [Member]
Balance at Dec. 31, 2021	$ 1,077,964	$ 1,128	$ 144,729	$ 1,560,636	$ (223,847)	$ (507,426)	$ 975,220	$ 102,744	$ 575,000
Balance (in shares) at Dec. 31, 2021		112,766,091				12,046,140
Comprehensive income (loss):
Net income (loss)	118,315			113,876			113,876	4,439	2,660
Other comprehensive income (loss) - net of tax	(13,780)				(13,779)		(13,779)	(1)
Amortization of share-based incentive compensation	53,437		50,766				50,766	2,671
Dividend equivalents	(4,908)		4,003	(4,284)			(281)	(4,627)
Class A common stock dividends	(46,664)			(46,664)			(46,664)
Purchase of Class A common stock	$ (175,797)					$ (175,797)	(175,797)
Purchase of Class A common stock (in shares)	4,717,821					4,717,821
Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefit	$ (51,868)		(201,360)	(40,559)		$ 186,542	(55,377)	3,509
Delivery of Class A common stock in connection with share-based incentive compensation and related tax expense (benefit) (in shares)						(4,392,813)
Business acquisitions and related equity transactions:
Distributions to noncontrolling interests, net	(4,283)							(4,283)
LFI Consolidated Funds	14,552							14,552
Change in redemption value of redeemable noncontrolling interests	2,660		1,862				1,862	798	(2,660)
Balance at Mar. 31, 2022	969,628	$ 1,128		1,583,005	(237,626)	$ (496,681)	849,826	119,802	575,000
Balance (in shares) at Mar. 31, 2022		112,766,091				12,371,148
Balance at Dec. 31, 2022	675,399	$ 1,128	167,890	1,676,713	(295,854)	$ (993,414)	556,463	118,936	583,471
Balance (in shares) at Dec. 31, 2022		112,766,091				26,814,213
Comprehensive income (loss):
Net income (loss)	(21,396)			(22,172)			(22,172)	776	6,197
Other comprehensive income (loss) - net of tax	12,898				12,897		12,897	1
Amortization of share-based incentive compensation	70,534		68,511				68,511	2,023
Dividend equivalents	(5,087)		7,119	(7,367)			(248)	(4,839)
Class A common stock dividends	(42,524)			(42,524)			(42,524)
Purchase of Class A common stock	$ (98,925)					$ (98,925)	(98,925)
Purchase of Class A common stock (in shares)	2,692,161					2,692,161
Delivery of Class A common stock in connection with share-based incentive compensation and related tax benefit	$ (45,557)		(176,320)			$ 125,099	(51,221)	5,664
Delivery of Class A common stock in connection with share-based incentive compensation and related tax expense (benefit) (in shares)						3,364,092
Business acquisitions and related equity transactions:
Class A common stock issuable	1,775		1,775				1,775
Delivery of Class A common stock			(1,533)			$ 1,533
Delivery of Class A common stock, (in shares)						(41,384)
Distributions to noncontrolling interests, net	(1,992)							(1,992)
LFI Consolidated Funds	(74,164)							(74,164)	85,106
Change in redemption value of redeemable noncontrolling interests	(589)		(412)				(412)	(177)	589
LGAC liquidation
Distribution to redeemable noncontrolling interests									(585,891)
Reversal to net loss of amounts previously charged to additional paid-in-capital and noncontrolling interests	17,929		13,195				13,195	4,734
Reversal of deferred offering costs liability	20,125		14,087				14,087	6,038
Other	(17)							(17)
Balance at Mar. 31, 2023	$ 508,409	$ 1,128	$ 94,312	$ 1,604,650	$ (282,957)	$ (965,707)	$ 451,426	$ 56,983	$ 89,472
Balance (in shares) at Mar. 31, 2023		112,766,091				26,100,898

Incentive Plans - Schedule of Activity Relating to RSUs and DSUs (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
RSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	9,022,917
Units, Granted	4,228,611
Units, Forfeited	(10,572)
Units, Settled	(2,753,616)
Units, Ending Balance	10,487,340
Weighted Average Grant Date Fair Value, Beginning Balance	$ 37.97
Weighted Average Grant Date Fair Value, Granted	37.44	$ 33.09
Weighted Average Grant Date Fair Value, Forfeited	38.91
Weighted Average Grant Date Fair Value, Settled	42.55
Weighted Average Grant Date Fair Value, Ending Balance	$ 36.55
DSUs [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Units, Beginning Balance	400,820
Units, Granted	4,774
Units, Ending Balance	405,594
Weighted Average Grant Date Fair Value, Beginning Balance	$ 37.66
Weighted Average Grant Date Fair Value, Granted	37.85	$ 37.95
Weighted Average Grant Date Fair Value, Ending Balance	$ 37.66

Regulatory Authorities

3 Months Ended

Mar. 31, 2023

Regulatory Capital Requirements [Abstract]

Regulatory Authorities

17.	REGULATORY AUTHORITIES

LFNY is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Exchange Act. Under the basic method permitted by this rule, the minimum required net capital, as defined, is a specified fixed percentage (6 2/3%) of total aggregate indebtedness recorded in LFNY’s Financial and Operational Combined Uniform Single (“FOCUS”) report filed with the Financial Industry Regulatory Authority (“FINRA”), or $5, whichever is greater. In addition, the ratio of aggregate indebtedness (as defined) to net capital may not exceed 15:1. At March 31, 2023, LFNY’s regulatory net capital was $48,294, which exceeded the minimum requirement by $43,030. LFNY’s aggregate indebtedness to net capital ratio was 1.63:1 as of March 31, 2023.

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 March 31, 2023, the aggregate regulatory net capital of the U.K. Subsidiaries was $181,434, which exceeded the minimum requirement by $122,490.

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 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, 2022, the consolidated regulatory net capital of CFLF was $152,442, which exceeded the minimum requirement set for regulatory capital levels by $74,403. 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, 2022, the regulatory net capital of the combined European regulated group was $176,343, which exceeded the minimum requirement set for regulatory capital levels by $89,905. 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 March 31, 2023, for those subsidiaries with regulatory capital requirements, their aggregate net capital was $150,254, which exceeded the minimum required capital by $123,459.

At March 31, 2023, each of these subsidiaries individually was in compliance with its regulatory capital requirements.

Consolidated VIEs (Tables)

3 Months Ended

Mar. 31, 2023

Variable Interest Entity Measure Of Activity [Abstract]

Summary of Consolidated VIE Assets and Liabilities

The Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the condensed consolidated statements of financial condition consist of the following at March 31, 2023 and December 31, 2022.

	March 31, 2023		December 31, 2022
ASSETS
Cash and cash equivalents	$	3,907	$	3,644
Customers and other receivables		591		240
Investments		216,862		186,300
Other assets		385		622
Total assets	$	221,745	$	190,806

LIABILITIES
Deposits and other customer payables	$	104	$	528
Other liabilities		497		448
Total liabilities	$	601	$	976

- 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

Senior Debt - Senior Debt (Parenthetical) (Detail)	3 Months Ended
Senior Debt - Senior Debt (Parenthetical) (Detail)	Mar. 31, 2023
Lazard Group 3.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate	3.75%
Senior debt 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 notes interest rate	3.625%
Senior debt maturity date	Mar. 01, 2027
Effective interest rates of senior notes	3.76%
Lazard Group 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate	4.50%
Senior debt maturity date	Sep. 19, 2028
Effective interest rates of senior notes	4.67%
Lazard Group 4.375% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes interest rate	4.375%
Senior debt maturity date	Mar. 11, 2029
Effective interest rates of senior notes	4.53%

Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

10.	COMMITMENTS AND CONTINGENCIES

Other Commitments—The Company has various other contractual commitments arising in the ordinary course of business. In addition, from time to time, LFB and LFNY may enter into underwriting commitments in which it will participate as an underwriter. At March 31, 2023, LFB and LFNY had no such underwriting commitments.

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

The fulfillment of the commitments described herein should not have a material adverse effect on the Company’s condensed consolidated financial position or results of operations.

Legal—The Company is involved from time to time in judicial, governmental, 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 may experience significant variation in its revenue and earnings on a quarterly basis. Accordingly, the results of any pending matter or matters could be significant when compared to the Company’s earnings in any particular quarter. The Company believes, however, based on currently available information, that the results of any pending matters, in the aggregate, will not have a material effect on its business or financial condition.

Stockholders' Equity and Redeemable Noncontrolling Interests - Net Income (Loss) Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	$ 6,973	$ 7,099
Noncontrolling interests	56,983		$ 118,936
Profits Interest Participation Rights [Member]
Change In Ownership Interest [Line Items]
Noncontrolling interests	13,690		10,792
LFI Consolidated Funds [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	4,365	(2,751)
Noncontrolling interests			74,164
Edgewater [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	639	6,988
Noncontrolling interests	43,280		44,681
LGAC [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	1,968	2,860
Noncontrolling interests			(10,714)
Other [Member]
Change In Ownership Interest [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interests	1	$ 2
Noncontrolling interests	$ 13		$ 13

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(24))
-URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(22))
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

+ Details

Derivatives - Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition (Detail) - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

Derivatives Fair Value [Line Items]

Derivative Assets, Fair Value

$ 5,309

$ 14,783

Derivative Assets, Notional

270,401

325,129

Derivative Liabilities, Fair Value

369,770

327,390

Derivative Liabilities, Notional

696,318

479,122

Derivative Assets, Fair value, Amounts not netted, Cash collateral

^[1]

(581)

Derivative Assets, Fair Value, Total

3,410

14,554

Derivative Liabilities, Fair Value, Total

368,452

327,160

Forward Foreign Currency Exchange Rate Contracts [Member]

Derivatives Fair Value [Line Items]

Derivative Assets, Fair Value

1,980

1,356

Derivative Assets, Notional

200,158

170,103

Derivative Liabilities, Fair Value

1,489

921

Derivative Liabilities, Notional

232,388

128,098

Derivative Assets, Fair Value, Counterparty and cash collateral netting

(575)

(157)

Derivative Liabilities, Fair Value, Counterparty and cash collateral netting

(575)

(158)

Total Return Swaps and Other [Member]

Derivatives Fair Value [Line Items]

Derivative Assets, Fair Value

3,329

13,427

Derivative Assets, Notional

70,243

155,026

Derivative Liabilities, Fair Value

747

Derivative Liabilities, Notional

74,890

1,398

Derivative Assets, Fair Value, Counterparty and cash collateral netting

(743)

(72)

Derivative Liabilities, Fair Value, Counterparty and cash collateral netting

(743)

(72)

LGAC Warrants [Member]

Derivatives Fair Value [Line Items]

Derivative Liabilities, Fair Value

115

Derivative Liabilities, Notional

11,500

LFI and Other Similar Deferred Compensation Arrangements [Member]

Derivatives Fair Value [Line Items]

Derivative Liabilities, Fair Value

367,534

326,282

Derivative Liabilities, Notional

389,040

338,126

Net derivatives in "other assets" and "other liabilities" [Member]

Derivatives Fair Value [Line Items]

Derivative Assets, Fair Value, Counterparty and cash collateral netting

3,991

14,554

Derivative Liabilities, Fair Value, Counterparty and cash collateral netting

$ 368,452

$ 327,160

[1]

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax provisions (benefit)	$ (21,725)	$ 38,753
Effective income tax rates	58.80%	24.30%
U.S. federal statutory income tax rate	21.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Investments - Additional Information (Detail) - U S Treasury Securities Member - Debt [Member]	3 Months Ended
	Mar. 31, 2023
Maximum [Member]
Schedule of Investments [Line Items]
US Treasury securities maturity period	1 year
Minimum [Member]
Schedule of Investments [Line Items]
US Treasury securities maturity period	3 months