Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program—During the six month period ended June 30, 2015 and for the years ended December 31, 2014, 2013, and 2012, the Board of Directors of Lazard authorized the repurchase of Class A common stock and Lazard Group common membership interests as set forth in the table below.


Date	Repurchase Authorization		Expiration
October 2012	$	200,000		December 31, 2014
October 2013	$	100,000		December 31, 2015
April 2014	$	200,000		December 31, 2015
February 2015	$	150,000		December 31, 2016

Schedule of Share Repurchase Program

The Company expects that the share repurchase program will primarily be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2005 Equity Incentive Plan (the “2005 Plan”) and the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from quarter to quarter due to a variety of factors. Purchases with respect to such program are set forth in the table below:


	Number of Shares Purchased		Average Price Per Share
Six Months Ended June 30:
2014		4,114,206	$	46.83
2015		2,306,694	$	51.04

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss), Net of Tax (“AOCI”)—The tables below reflect changes in the balances of each component of AOCI during the six month periods ended June 30, 2015 and 2014:


	Currency Translation Adjustments			Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2015	$	(46,102	)	$	(154,665	)	$	(200,767	)	$	(1	)	$	(200,766	)

Activity January 1 to June 30, 2015:
Other comprehensive loss before reclassifications		(22,342	)		(14,617	)		(36,959	)		–			(36,959	)
Adjustments for items reclassified to earnings, net of tax		–			2,376			2,376			–			2,376

Net other comprehensive loss		(22,342	)		(12,241	)		(34,583	)		–			(34,583	)

Balance, June 30, 2015	$	(68,444	)	$	(166,906	)	$	(235,350	)	$	(1	)	$	(235,349	)


	Currency Translation Adjustments		Employee Benefit Plans			Total AOCI			Amount Attributable to Noncontrolling Interests			Total Lazard Ltd AOCI
Balance, January 1, 2014	$	3,869	$	(137,431	)	$	(133,562	)	$	(558	)	$	(133,004	)

Activity January 1 to June 30, 2014:
Other comprehensive income (loss) before reclassifications		10,460		(6,946	)		3,514			559			2,955
Adjustments for items reclassified to earnings, net of tax		–		2,569			2,569			–			2,569

Net other comprehensive income (loss)		10,460		(4,377	)		6,083			559			5,524

Balance, June 30, 2014	$	14,329	$	(141,808	)	$	(127,479	)	$	1		$	(127,480	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month and six month periods ended June 30, 2015 and 2014:


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Amortization relating to employee benefit plans (a)	$	1,728	$	1,611	$	3,477	$	3,432
Less – related income taxes		538		331		1,101		863

Total reclassifications, net of tax	$	1,190	$	1,280	$	2,376	$	2,569

(a)	Included in the computation of net periodic benefit cost (see Note 13 of Notes to Condensed Consolidated Financial Statements). Such amount is included in “compensation and benefits” expense on the condensed consolidated statement of operations.

Net Income Attributable to Noncontrolling Interests

The tables below summarize net income attributable to noncontrolling interests for the three month and six month periods ended June 30, 2015 and 2014 and noncontrolling interests as of June 30, 2015 and December 31, 2014 in the Company’s condensed consolidated financial statements:


	Net Income Attributable to Noncontrolling Interests
	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Edgewater	$	1,041	$	552	$	7,734	$	4,672
LAZ-MD Holdings		–		164		–		631
Other		1		1		1		1

Total	$	1,042	$	717	$	7,735	$	5,304


	Noncontrolling Interests As Of
	June 30, 2015		December 31, 2014
Edgewater	$	58,446	$	62,584
Other		719		729

Total	$	59,165	$	63,313