Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 185

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 8
Chunk 185
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 $– $– $20 $866 Liabilities:Contingent consideration    liability (b)$4,495 $26 $– $(2,300)$– $2,221 Total Level 3 liabilities$4,495 $26 $– $(2,300)$– $2,221 

17

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

Three Months Ended March 31, 2024BeginningBalanceNet Unrealized/RealizedGains/LossesIncluded InEarnings (a)Purchases/IssuancesSales/Settlements/ForeignCurrencyTranslationAdjustmentsEndingBalanceAssets:Investments:Equity$493 $– $– $– $(18)$475 Private equity funds273 – – – (6)267 Total Level 3 assets$766 $– $– $– $(24)$742 Liabilities:Contingent consideration   liability (b)$6,583 $53 $– $(2,300)$– $4,336 Total Level 3 liabilities$6,583 $53 $– $(2,300)$– $4,336 _________________________________(a)Unrealized losses of $26 and $53 were recorded in “operating expenses-other” for the contingency consideration liability for the three month periods ended March 31, 2025 and 2024, respectively. (b)For the three month periods ended March 31, 2025 and 2024, settlements represent aggregate cash and noncash settlement of contingent consideration after the acquisition date.  The following tables present, at March 31, 2025 and December 31, 2024, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:March 31, 2025Investments RedeemableNAVUnfundedCommitments% ofNAVNotRedeemableRedemptionFrequencyRedemptionNotice PeriodAlternative investment funds:Hedge funds$42,329 $– NA(a)<30-60 daysOther721 – NA(b)<30-90 daysDebt funds3 – NA(c)<30-30 daysEquity funds53 –