Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 234

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 234
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 effective tax rate$15,779 $17,735 $15,599 Interest and penalties recognized in current income tax expense (after giving effect to the reversal of interest and penalties of $5,641, $5,528 and $6,344, respectively)$1,847 $509 $(587)The Company anticipates that it is reasonably possible that approximately $20,500 of unrecognized tax benefits, including interest and penalties recorded at December 31, 2024, may be recognized within 12 months as a result of the lapse of the statute of limitations in various tax jurisdictions.

120

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

20.    NET INCOME (LOSS) PER SHARE OF COMMON STOCK

The Company is required to utilize the “two-class” method of computing basic and diluted net income per share because the Company issued certain PIPRs, including certain P-PIPRs, which are treated as participating securities. The Company’s basic and diluted net income (loss) per share calculations using the “two-class” method for the years ended December 31, 2024, 2023, and 2022 are presented below:Year Ended December 31,202420232022Net income (loss) attributable to Lazard $279,912 $(75,479)$357,517 Adjustment for earnings attributable to participating securities(6,886)(4,440)(5,732)Net income (loss) attributable to Lazard - basic273,026 (79,919)351,785 Adjustment for earnings attributable to participating securities1,233 – 2,641 Net income (loss) attributable to Lazard - diluted$274,259 $(79,919)$354,426 Weighted average number of shares of common stock outstanding89,858,73086,751,82293,994,663Weighted average number of shares of common stock issuable on a non-contingent basis3,280,6222,242,1631,669,466Weighted average number of shares of common stock outstanding - basic93,139,35288,993,98595,664,129Weighted average number of incremental shares of common stock issuable from share-based incentive compensation (a)9,252,819–5,333,545Weighted average number of shares of common