Lazard, Inc. Files Q3 2024 10-Q
Ticker: LAZ · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 1311370
| Field | Detail |
|---|---|
| Company | Lazard, Inc. (LAZ) |
| Form Type | 10-Q |
| Filed Date | Nov 1, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Lazard's Q3 2024 10-Q is in - check financials.
AI Summary
Lazard, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets and liabilities. Lazard, Inc. is headquartered at 30 Rockefeller Plaza, New York, NY 10112, and its fiscal year ends on December 31.
Why It Matters
This filing provides investors and analysts with a detailed look into Lazard's financial health and operational performance for the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- Q3 2024 — Quarterly Period (Reporting period for the 10-Q filing.)
- 12-31 — Fiscal Year End (Indicates the end of Lazard's financial year.)
Key Players & Entities
- Lazard, Inc. (company) — Filer
- 20240930 (date) — Period of Report
- 30 ROCKEFELLER PLAZA (location) — Business Address
- NEW YORK (location) — Business Address City
- 10112 (location) — Business Address Zip
- 1231 (date) — Fiscal Year End
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the third quarter of 2024.
What is Lazard, Inc.'s fiscal year end?
Lazard, Inc.'s fiscal year ends on 1231.
Where is Lazard, Inc. headquartered?
Lazard, Inc.'s business address is 30 ROCKEFELLER PLAZA, NEW YORK, NY 10112.
What is the SEC file number for Lazard, Inc.?
The SEC file number is 001-32492.
When was Lazard, Inc. formerly known as Lazard Ltd?
The date of the name change from Lazard Ltd to Lazard, Inc. was 20041213.
Filing Stats: 4,516 words · 18 min read · ~15 pages · Grade level 19.3 · Accepted 2024-11-01 16:32:15
Filing Documents
- laz-20240930.htm (10-Q) — 2706KB
- laz-20240930xex311.htm (EX-31.1) — 8KB
- laz-20240930xex312.htm (EX-31.2) — 8KB
- laz-20240930xex321.htm (EX-32.1) — 4KB
- laz-20240930xex322.htm (EX-32.2) — 4KB
- 0001628280-24-044770.txt ( ) — 13345KB
- laz-20240930.xsd (EX-101.SCH) — 86KB
- laz-20240930_cal.xml (EX-101.CAL) — 99KB
- laz-20240930_def.xml (EX-101.DEF) — 435KB
- laz-20240930_lab.xml (EX-101.LAB) — 941KB
- laz-20240930_pre.xml (EX-101.PRE) — 669KB
- laz-20240930_htm.xml (XML) — 2481KB
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 43
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 73
Controls and Procedures
Item 4. Controls and Procedures 73
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 74
Risk Factors
Item 1A. Risk Factors 74
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 74
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 75
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 75
Other Information
Item 5. Other Information 75
Exhibits
Item 6. Exhibits 76
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Page Condensed Consolidated Statements of Financial Condition as of September 30, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Operations for the three month and nine month periods ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three month and nine month periods ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine month periods ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity and Redeemable Noncontrolling Interests for the three month and nine month periods ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 12 1 LAZARD, INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (UNAUDITED) (dollars in thousands, except for per share data) September 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 1,165,718 $ 971,316 Deposits with banks and short-term investments 313,023 219,576 Restricted cash 34,998 34,091 Receivables (net of allowance for credit losses of $ 27,239 and $ 28,503 at September 30, 2024 and December 31, 2023, respectively): Fees 529,322 560,552 Customers and other 152,705 201,767 682,027 762,319 Investments 688,411 701,964 Property (net of accumulated amortization and depreciation of $ 332,911 and $ 414,547 at September 30, 2024 and December 31, 2023, respectively, including $ 72,921 of property held for sale at December 31, 2023) 158,440 232,516 Operating lease right-of-use assets 450,462 407,213 Goodwill and other intangible assets (net of accumulated amortization of $ 67,711 and $ 67,681 at September 30, 2024 and December 31, 2023, respectively) 394,575 394,928 Deferred tax assets 526,800 497,340 Other assets 405,550 414,518 Total Assets $ 4,820,004 $ 4,635,781 See notes to condensed co