Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 60

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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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 condensed consolidated    statement of financial condition (a):Cash collateral– (1,132)Securities collateral– – $3,787 $273,148 ___________________________________(a)Amounts are subject to master netting arrangements but do not meet the criteria for netting on the condensed consolidated statements of financial condition under U.S. GAAP. For some counterparties, the amounts of securities and cash collateral pledged may exceed the derivative assets and derivative liabilities balances. Where this is the case, the amount of collateral offset within net derivatives is limited to the net derivative assets and net derivative liabilities balances with that counterparty.Net gains (losses) with respect to derivative instruments (included in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements 

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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)

(included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2025 and 2024 were as follows:Three Months EndedMarch 31,20252024Forward foreign currency exchange rate contracts$(5,399)$1,331 LFI and other similar deferred compensation arrangements(5,243)(9,373)Total return swaps and other3,654 (6,364)Total$(6,988)$(14,406)

8.    PROPERTY, NET

At March 31, 2025 and December 31, 2024, property consisted of the following:EstimatedDepreciableLife in YearsMarch 31,2025December 31,2024Buildings 33$11,924 $11,455 Leasehold improvements 3-20218,053 214,744 Furniture and equipment3-10170,080 165,727 Computer software3-568,941 67,523 Construction in progress 43,649 33,793 Total 512,647 493,242 Less -