Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 42

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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March 31,20252024NET INCOME$61,989 $40,224 OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:Currency translation adjustments24,213 (16,262)Employee benefit plans:Actuarial gain (loss) (net of tax expense (benefit) of $(1,602) and $288 for the three months ended March 31, 2025 and 2024, respectively) (5,789)815 Adjustment for items reclassified to earnings (net of tax expense of $530 and $455 for the three months ended March 31, 2025 and 2024, respectively)1,576 1,402 OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX20,000 (14,045)COMPREHENSIVE INCOME81,989 26,179 LESS - COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS1,638 4,469 COMPREHENSIVE INCOME ATTRIBUTABLE TO LAZARD$80,351 $21,710 

See notes to condensed consolidated financial statements.5

LAZARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2025 AND 2024

(UNAUDITED) 

(dollars in thousands)Three Months EndedMarch 31,20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net income $61,989 $40,224 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:Amortization of deferred expenses and share-based incentive compensation104,166 121,478 Noncash lease expense15,844 16,278 Depreciation and amortization of property8,443 9,134 Deferred tax benefit(26,088)(12,836)Other adjustments(5,204)– (Increase) decrease in operating assets and increase (decrease) in operating liabilities:Receivables-net88,373 6,694 Investments96,393 62,208 Other assets19,300 (88,231)Accrued compensation and benefits and other liabilities(580,742)(244,935)Net cash used in operating activities(217,526)(89,986)C