Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 219

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part II, Item 8
Chunk 219
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 U.S. federal valuation allowance affecting the provision for income taxes and (iv) U.S. state and local taxes, which are incremental to the U.S. federal statutory tax rate. Cash paid for income taxes, net of refunds for the six month period ended June 30, 2025 was $82,298.

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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)

17.    NET INCOME 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 per share calculations using the “two-class” method for the three month and six month periods ended June 30, 2025 and 2024 are presented below:Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Net income attributable to Lazard$55,346 $49,909 $115,721 $85,664 Adjustment for earnings attributable to participating securities(904)(873)(2,713)(2,152)Net income attributable to Lazard - basic54,442 49,036 113,008 83,512 Adjustment for earnings attributable to participating securities– 206 – 401 Net income attributable to Lazard - diluted$54,442 $49,242 $113,008 $83,913 Weighted average number of shares of common stock outstanding94,242,23190,172,32592,776,70989,360,041Weighted average number of shares of common stock issuable on a non-contingent basis3,292,0882,714,0393,618,1622,713,373Weighted average number of shares of common stock outstanding - basic97,534,31992,886,36496,394,87192,073,414Weighted average number of incremental shares of common stock issuable from share-based incentive compensation (a)7,377,3147,741,5038,475,3227,916,403Weighted average number of shares of common stock outstanding - diluted104,911,633 100,627,867 104,870