Derivatives (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Value of Derivatives Reported on Consolidated Statements of Financial Condition

The tables below present the fair values 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 obligation pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (see Note 14 of Notes to Consolidated Financial Statements) on the accompanying consolidated statements of financial condition as of December 31, 2013 and 2012:

	December 31,
	2013		2012
Derivative Assets:
Forward foreign currency exchange rate contracts	$	250	$	893
Equity and fixed income swaps and other (a)		432		40
	$	682	$	933
Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	1,579	$	322
Interest rate swaps		–		235
Equity and fixed income swaps (a)		–		4,342
Lazard Fund Interests and other similar deferred compensation arrangements		162,422		97,593
	$	164,001	$	102,492

(a) For equity and fixed income swaps, amounts represent the netting of gross derivative assets and liabilities of $2,019 and $1,587 as of December 31, 2013, respectively, and $0 and $4,342 as of December 31, 2012, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $11,384 and $15,304 as of December 31, 2013 and 2012, respectively.

Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to Lazard Fund Interests and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011, were as follows:

	Year Ended December 31,
	2013			2012			2011
Forward foreign currency exchange rate contracts	$	(3,162	)	$	(1,844	)	$	2,422
Lazard Fund Interests and other similar deferred compensation arrangements		(14,099	)		(7,557	)		3,024
Equity and fixed income swaps and other		(10,931	)		(18,327	)		4,276
	$	(28,192	)	$	(27,728	)	$	9,722