Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 201

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part II, Item 8
Chunk 201
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 other receivables included $129,685 and $82,985, respectively, of customer loans provided by LFB to high net worth individuals and families, which are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of both September 30, 2025 and December 31, 2024. The aggregate carrying amount of other fees and customers and other receivables was $515,560 and $539,956 at September 30, 2025 and December 31, 2024, respectively.Activity in the allowance for credit losses for the three month and nine month periods ended September 30, 2025 and 2024 was as follows:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Beginning Balance$26,545 $29,686 $32,033 $28,503 Provision for credit losses, net of reversals1,602 (1,472)(1,329)3,451 Charge-offs(231)(1,375)(3,761)(4,858)Foreign currency translation and other adjustments(23)400 950 143 Ending Balance$27,893 $27,239 $27,893 $27,239 The provision for credit losses, net of reversals represents the current period provision of expected credit losses and is included in “operating expenses-other” on the condensed consolidated statements of operations.The allowance for credit losses is substantially all related to Financial Advisory fee receivables and other receivables.

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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)

5.    INVESTMENTS

The Company’s investments consist of the following at September 30, 2025 and December 31, 2024:September 30,2025December 31,2024Debt$1,704 $– Equity58,530 58,623 Funds:Alternative investments (a)50,001 59,230 Debt (a)116,531 147,173 Equity (a)330,496 289,610 Private equity47,818 43,412 Total funds544,846 539,425 Investments, at fair