Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 70

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 70
---
.

7.    DERIVATIVES

The tables below present the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 13) on the accompanying condensed consolidated statements of financial condition as of September 30, 2025 and December 31, 2024. 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 condensed consolidated statements of financial condition where the Company has a right to set off under an enforceable master netting agreement. 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 condensed consolidated statements of financial condition.September 30, 2025Derivative AssetsDerivative LiabilitiesFair ValueNotionalFair ValueNotionalForward foreign currency exchange rate contracts$770 $126,660 $5,707 $381,319 Total return swaps and other153 436 39,450 177,950 LFI and other similar deferred compensation arrangements– – 185,144 160,786 Total gross derivatives923 $127,096 230,301 $720,055 Counterparty and cash collateral netting:Forward foreign currency exchange rate contracts(247)(247)Total return swaps and other(153)(7,467)Net derivatives in "other assets" and "other liabilities"523 222,587 Collateral not netted on the condensed consolidated    statement of financial condition (a)– (31,978)$523 $190,609 

24

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

December 31, 2024Derivative AssetsDerivative LiabilitiesFair ValueNotionalFair ValueNotionalForward foreign currency exchange rate contracts$4,248 $359,717 $1,068 $167,115 Total return swaps