Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 206

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 206
---
– – 365,420 352,891 Total gross derivatives3,533 $288,113 379,557 $640,734 Counterparty and cash collateral netting:Forward foreign currency exchange rate contracts(604)(603)Total return swaps and other(140)(10,281)Net derivatives in "other assets" and "other liabilities"2,789 368,673 Amounts not netted on the statement of financial    condition (a):Cash collateral– (243)Securities collateral– – $2,789 $368,430 _____________________(a)Amounts are subject to master netting arrangements but do not meet the criteria for netting on the 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. 

99

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

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 (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022, were as follows:Year Ended December 31,202420232022Forward foreign currency exchange rate contracts$10,264 $(2,701)$4,721 LFI and other similar deferred compensation arrangements(16,176)(41,463)44,261 LGAC Warrants– 115 9,890 Total return swaps and other(11,498)(16,957)23,212 Total$(17,410)$(61,006)$82,084 

9.    PROPERTY, NET

At December 31, 2024 and 2023, property consisted of the following:EstimatedDepreciableLife in YearsDecember 31,20242023Buildings (a)33$11,455 $170,830 Leasehold improvements (a)3-20214,744 233,732 Furniture