Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 66

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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BalanceAssets:Investments:Equity$475 $37 $109 $– $(10)$611 Private equity funds267 – – – (3)264 Total Level 3 assets$742 $37 $109 $– $(13)$875 Liabilities:Contingent consideration   liability$4,336 $53 $– $– $– $4,389 Total Level 3 liabilities$4,336 $53 $– $– $– $4,389 

21

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

Six Months Ended June 30, 2024BeginningBalanceNet Unrealized/RealizedGains/LossesIncluded InEarnings (a)Purchases/Acquisitions/IssuancesSales/Settlements/Transfers ForeignCurrencyTranslationAdjustmentsEndingBalanceAssets:Investments:Equities$493 $37 $109 $– $(28)$611 Private equity funds273 – – – (9)264 Total Level 3 assets$766 $37 $109 $– $(37)$875 Liabilities:Contingent consideration   liability (b)$6,583 $106 $– $(2,300)$– $4,389 Total Level 3 liabilities$6,583 $106 $– $(2,300)$– $4,389 _________________________________(a)Earnings recorded in “other revenue” for investments in Level 3 assets for the three month and six month periods ended June 30, 2025 and 2024 include net unrealized gains of $46, $47, $37, and $37, respectively. Unrealized losses of $27, $53, $53 and $106 were recorded in “operating expenses-other” for the contingency consideration liability for the  three month and six month periods ended June 30, 2025 and 2024, respectively. (b)For the six month periods ended June 30, 2025 and 2024, settlements represent aggregate cash and noncash settlement of contingent consideration after the acquisition date.  The following tables present, at June 30, 2025