Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 165

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 15
Chunk 165
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,233 4,152 OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX(36,792)5,904 (72,007)COMPREHENSIVE INCOME (LOSS)$243,120 $(69,575)$285,510 

See notes to condensed financial statements.F-4

LAZARD, INC.(parent company only)CONDENSED STATEMENTS OF CASH FLOWSFOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022(dollars in thousands)Year Ended December 31,202420232022CASH FLOWS FROM OPERATING ACTIVITIES:Net income (loss)$279,912 $(75,479)$357,517 Adjustments to reconcile net income (loss) to net cash provided by operating activities:Equity in (earnings) losses of subsidiaries(244,705)181,720 (238,987)Dividends received from subsidiaries179,030 25,000 79,500 Deferred tax benefit(1,192)– – Changes in due to/from subsidiaries(33,584)42,772 (16,663)Changes in other operating assets and liabilities(1,296)254 14 Net cash provided by operating activities178,165 174,267 181,381 CASH FLOWS FROM FINANCING ACTIVITIES:   Common stock dividends(179,017)(173,075)(181,880)Net cash used in financing activities(179,017)(173,075)(181,880)Net increase (decrease) in cash and cash equivalents(852)1,192 (499)Cash and cash equivalents, January 11,901 709 1,208 Cash and cash equivalents, December 31$1,049 $1,901 $709 

See notes to condensed financial statements.F-5

LAZARD, INC.

(parent company only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

(dollars in thousands)

1.    BASIS OF PRESENTATIONThe accompanying Lazard, Inc. condensed financial statements (the “Parent Company Financial Statements”), including the notes thereto, should be read in conjunction with the consolidated financial statements of Lazard, Inc.  and its subsidiaries (the “Company”) and the notes thereto.In connection with the Conversion, in 2024, Lazard, Inc