Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 36

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 36
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 2023 and 2022 include net unrealized gains (losses) of $46, $(6) and $99, respectively. Unrealized losses of $212 and $274 were recorded in “operating expenses-other” for the contingent consideration liability for the years ended December 31, 2024 and 2023, respectively.(b)For the year ended December 31, 2023, acquisitions represent the initial recognition of the contingent consideration liability (noncash transaction). Settlements for the years ended December 31, 2024 and 2023 represent aggregate cash and noncash settlement of contingent consideration after the acquisition date.(c)Transfers out of Level 3 private equity funds during the year ended December 31, 2023 reflect investments valued at NAV that were previously valued based on the acquisition price.

95

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

Financial Instruments Not Measured at Fair Value—The tables below present the carrying value, fair value and fair value hierarchy category of certain financial instruments as of December 31, 2024 and 2023 that are not measured at fair value in the Company’s consolidated statement of financial condition.December 31, 2024Carrying ValueFair ValueFair Value Measurements Using:Level 1Level 2Level 3Financial Assets:Cash and cash equivalents$1,302,236 $1,302,236 $1,302,236 $– $– Deposits with banks and short-term investments244,018 244,018 244,018 – – Restricted cash32,466 32,466 32,466 – – Financing receivables130,682 131,272 – – 131,272 Customer loans82,985 82,985 – – 82,985 Other fees and customers and other receivables539,956 539,956 – 539,956 – Financial Liabilities:     Deposits and other customer payables$308,213 $308,213 $– $308,213 $– Senior debt1,687,052 1,681,893 – 1,681,893 – December 31, 2023Carrying ValueFair ValueFair Value Measurements Using:Level 1Level