17.	NET INCOME PER SHARE OF CLASS A COMMON STOCK

The Company’s basic and diluted net income per share calculations for the years ended December 31, 2017, 2016 and 2015 are computed as described below.

Basic Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective years.

Denominator—utilizes the weighted average number of shares of Class A common stock outstanding for the respective years, plus applicable adjustments to such shares associated with shares of Class A common stock issuable on a non-contingent basis.

Diluted Net Income Per Share

Numerator—utilizes net income attributable to Lazard Ltd for the respective years as in the basic net income per share calculation described above.

Denominator —utilizes the weighted average number of shares of Class A common stock outstanding for the respective years as in the basic net income per share calculation described above, plus, to the extent dilutive, the incremental number of shares of Class A common stock required to settle share-based incentive compensation.

The calculations of the Company’s basic and diluted net income per share and weighted average shares outstanding for the years ended December 31, 2017, 2016 and 2015 are presented below:

	Year Ended December 31,
	2017		2016		2015
Net income attributable to Lazard Ltd - basic	$	253,583	$	387,698	$	986,373
Net income attributable to Lazard Ltd - diluted	$	253,583	$	387,698	$	986,373
Weighted average number of shares of Class A common stock outstanding		121,309,174		124,635,160		125,294,261
Add - adjustment for shares of Class A common stock issuable on a non-contingent basis		264,268		135,241		72,011
Weighted average number of shares of Class A common stock outstanding - basic		121,573,442		124,770,401		125,366,272
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of Class A common stock issuable from share-based incentive compensation		10,906,286		7,863,229		7,878,274
Weighted average number of shares of Class A common stock outstanding - diluted		132,479,728		132,633,630		133,244,546
Net income attributable to Lazard Ltd per share of Class A common stock:
Basic	$	2.09	$	3.11	$	7.87
Diluted	$	1.91	$	2.92	$	7.40