Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 59

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
.Of the Company’s fee receivables at June 30, 2025 and December 31, 2024, $108,982 and $130,682, respectively, represented financing receivables for our Private Capital Advisory fees. At June 30, 2025 and December 31, 2024, customers and other receivables included $117,358 and $82,985, respectively, of customer loans provided by LFB to high net worth individuals and families, which are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of both June 30, 2025 and December 31, 2024. The aggregate carrying amount of other fees and customers and other receivables was $528,455 and $539,956 at June 30, 2025 and December 31, 2024, respectively.Activity in the allowance for credit losses for the three month and six month periods ended June 30, 2025 and 2024 was as follows:Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Beginning Balance$26,340 $30,086 $32,033 $28,503 Provision for credit losses, net of reversals2,491 (75)(2,931)4,923 Charge-offs(2,877)(260)(3,530)(3,483)Foreign currency translation and other adjustments591 (65)973 (257)Ending Balance$26,545 $29,686 $26,545 $29,686 The provision for credit losses, 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.The allowance for credit losses is substantially all related to Financial Advisory fee receivables and other receivables.

15

LAZARD, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS-(Continued)(UNAUDITED)(dollars in thousands, except for per share data, unless otherwise noted)

5.    INVESTMENTS

The Company’s investments consist of the following at June 30, 2025 and December 31, 2024:June 30,2025December 31,2024Debt$207 $– Equity56,315 58,623 Funds