Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 240

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 240
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Year Ended December 31, 2023Financial AdvisoryAsset ManagementCorporateTotalNet Revenue (Loss) - U.S. GAAP Basis$1,385,357 $1,151,496 $(21,364)$2,515,489 Adjusted Compensation and Benefits Expense1,014,352 545,308 142,877 1,702,537 Adjusted Non-compensation Expense193,661 218,903 158,940 571,504 Other Segment Items(28,522)(83,937)36,589 (75,870)Adjusted Operating Income (Loss)$148,822 $303,348 $(286,592)$165,578 Other Segment Disclosures:Interest income (included in net revenue)$1,561 $19,752 $20,709 $42,022 Depreciation and amortization of property     (included in adjusted non-compensation    expense)$8,458 $6,448 $27,860 $42,766 

124

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

Year Ended December 31, 2022Financial AdvisoryAsset ManagementCorporateTotalNet Revenue (Loss) - U.S. GAAP Basis$1,666,156 $1,204,927 $(97,512)$2,773,571 Adjusted Compensation and Benefits Expense939,164 557,887 159,787 1,656,838 Adjusted Non-compensation Expense184,439 205,061 128,673 518,173 Other Segment Items(13,734)(106,262)115,483 (4,513)Adjusted Operating Income  (Loss)$528,819 $335,717 $(270,489)$594,047 Other Segment Disclosures:Interest income (included in net revenue)$4,074 $6,247 $19,136 $29,457 Depreciation and amortization of property    (included in adjusted non-compensation    expense)$8,968 $9,363 $20,922 $39,253 The table below provides a reconciliation of the Company's consolidated adjusted operating income (loss) to the Company’s consolidated U.S. GAAP operating income (loss).Year Ended December 31,202420