Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 68

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 each fund will be received as the underlying investments of the funds are liquidated.

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 June 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. 

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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)

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.June 30, 2025Derivative AssetsDerivative LiabilitiesFair ValueNotionalFair ValueNotionalForward foreign currency exchange rate contracts$469 $93,295 $7,132 $259,612 Total return swaps and other137 59,776 25,319 146,456 LFI and other similar deferred compensation arrangements– – 182,622 163,233 Total gross derivatives606 $153,071 215,073 $569,301 Counterparty and cash collateral netting:Forward foreign currency exchange rate contracts(381)(381)Total return swaps and other(137)(136)Net derivatives in "other assets" and "other liabilities"88 214,556 Amounts not netted on the condensed consolidated    statement of financial condition (a):Cash collateral– (119)Securities collateral– (25,183)$88 $189,254 December 31, 2024Derivative AssetsDerivative LiabilitiesFair ValueNotionalFair ValueNotionalForward foreign currency exchange rate