Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 59

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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 (see Note 13) on the accompanying condensed consolidated statements of financial condition as of March 31, 2025 and December 31, 2024. 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 a right to set off under an enforceable master netting agreement. 

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

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, 2025Derivative AssetsDerivative LiabilitiesFair ValueNotionalFair ValueNotionalForward foreign currency exchange rate contracts$598 $96,561 $753 $187,928 Total return swaps and other1,267 83,136 183 17,125 LFI and other similar deferred compensation arrangements– – 171,709 164,080 Total gross derivatives1,865 $179,697 172,645 $369,133 Counterparty and cash collateral netting:Forward foreign currency exchange rate contracts(321)(322)Total return swaps and other(183)(183)Net derivatives in "other assets" and "other liabilities"1,361 172,140 Amounts not netted on the condensed consolidated    statement of financial condition (a):Cash collateral(82)(89)Securities collateral– – $1,279 $172,051 December 31, 2024Derivative AssetsDerivative LiabilitiesFair ValueNotionalFair ValueNotionalForward foreign currency exchange rate contracts$4,248 $359,717 $1,068 $167,115 Total return swaps and other125 1,031 17,527 116,239 LFI and other similar deferred compensation arrangements– – 270,847 247,848 Total gross derivatives4,373 $360,748 289,442 $531,202