Lazard, Inc. Files Q2 2024 10-Q Report

TL;DR

Lazard's Q2 2024 10-Q is in. Check financials.

AI Summary

Lazard, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided, reflecting the company's activities during the second quarter of 2024.

Why It Matters

This filing provides investors and analysts with a detailed look into Lazard's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Numbers

• Q2 2024 — Quarterly Period (The financial period covered by this 10-Q filing.)
• 12-31 — Fiscal Year End (Indicates Lazard, Inc.'s fiscal year ends on December 31st.)

Key Players & Entities

• Lazard, Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — Period of report for the 10-Q
• 0001311370 (company) — Central Index Key for Lazard, Inc.
• 30 ROCKEFELLER PLAZA (location) — Business and mailing address of Lazard, Inc.
• NEW YORK (location) — City of Lazard, Inc.'s business and mailing address
• NY (location) — State of Lazard, Inc.'s business and mailing address
• 10112 (location) — ZIP code of Lazard, Inc.'s business and mailing address
• (212) 632-6000 (phone_number) — Business phone number for Lazard, Inc.

FAQ

Filing Documents

• laz-20240630.htm (10-Q) — 2674KB
• laz-20240630xex311.htm (EX-31.1) — 8KB
• laz-20240630xex312.htm (EX-31.2) — 8KB
• laz-20240630xex321.htm (EX-32.1) — 4KB
• laz-20240630xex322.htm (EX-32.2) — 4KB
• 0001628280-24-033170.txt ( ) — 13144KB
• laz-20240630.xsd (EX-101.SCH) — 84KB
• laz-20240630_cal.xml (EX-101.CAL) — 94KB
• laz-20240630_def.xml (EX-101.DEF) — 434KB
• laz-20240630_lab.xml (EX-101.LAB) — 915KB
• laz-20240630_pre.xml (EX-101.PRE) — 661KB
• laz-20240630_htm.xml (XML) — 2440KB

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 42

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 72

Controls and Procedures

Item 4. Controls and Procedures 72

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 73

Risk Factors

Item 1A. Risk Factors 73

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 73

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 74

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 74

Other Information

Item 5. Other Information 74

Exhibits

Item 6. Exhibits 75

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Page Condensed Consolidated Statements of Financial Condition as of June 30, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Operations for the three month and six month periods ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three month and six month periods ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the six month periods ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity and Redeemable Noncontrolling Interests for the three month and six month periods ended June 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 12 1 LAZARD, INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION JUNE 30, 2024 AND DECEMBER 31, 2023 (UNAUDITED) (dollars in thousands, except for per share data) June 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 847,555 $ 971,316 Deposits with banks and short-term investments 203,809 219,576 Restricted cash 33,089 34,091 Receivables (net of allowance for credit losses of $ 29,686 and $ 28,503 at June 30, 2024 and December 31, 2023, respectively): Fees 554,596 560,552 Customers and other 170,892 201,767 725,488 762,319 Investments 687,507 701,964 Property (net of accumulated amortization and depreciation of $ 424,128 and $ 414,547 at June 30, 2024 and December 31, 2023, respectively, including $ 70,002 and $ 72,921 of property held for sale at June 30, 2024 and December 31, 2023, respectively) 220,663 232,516 Operating lease right-of-use assets 451,707 407,213 Goodwill and other intangible assets (net of accumulated amortization of $ 67,711 and $ 67,681 at June 30, 2024 and December 31, 2023, respectively) 393,967 394,928 Deferred tax assets 507,572 497,340 Other assets 455,837 414,518 Total Assets $ 4,527,194 $ 4,635,781 See notes to condensed consolidated

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View this 10-Q filing on SEC EDGAR