Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 39

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 39
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’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 16) on the accompanying consolidated statements of financial condition as of December 31, 2024 and 2023. 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 consolidated statements of financial condition where the Company has a right to set off under an enforceable master netting agreement. 

98

LAZARD, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)(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 consolidated statements of financial condition.December 31, 2024Derivative AssetsDerivative LiabilitiesFair Value NotionalFair Value NotionalForward 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 Counterparty and cash collateral netting:    Forward foreign currency exchange rate contracts(461)(460) Total return swaps and other(125)(14,702) Net derivatives in "other assets" and "other liabilities"3,787  274,280  Amounts not netted on the statement of financial    condition (a):    Cash collateral–  (1,132) Securities collateral–  –  $3,787  $273,148  December 31, 2023Derivative AssetsDerivative LiabilitiesFair Value NotionalFair Value NotionalForward foreign currency exchange rate contracts$3,400 $283,635 $1,847 $170,704 Total return swaps and other133 4,478 12,290 117,139 LFI and other similar deferred compensation arrangements