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Supplemental Financial Information - Quarterly Results
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Supplemental Financial Information - Quarterly Results

SUPPLEMENTAL FINANCIAL INFORMATION

QUARTERLY RESULTS (UNAUDITED)

The following represents the Company’s unaudited quarterly results for the years ended December 31, 2019 and 2018. These quarterly results were prepared in conformity with generally accepted accounting principles and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature.

 

 

 

2019 Fiscal Quarter

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Year

 

 

 

(dollars in thousands, except per share data)

 

Net revenue

 

$

643,674

 

 

$

630,690

 

 

$

591,068

 

 

$

721,341

 

 

$

2,586,773

 

Operating expenses

 

 

524,011

 

 

 

529,005

 

 

 

538,695

 

 

 

602,364

 

 

 

2,194,075

 

Operating income

 

$

119,663

 

 

$

101,685

 

 

$

52,373

 

 

$

118,977

 

 

$

392,698

 

Net income

 

$

96,476

 

 

$

73,513

 

 

$

48,196

 

 

$

79,531

 

 

$

297,716

 

Less - net income (loss) attributable to

   noncontrolling interests

 

 

(566

)

 

 

7,736

 

 

 

1,492

 

 

 

2,554

 

 

 

11,216

 

Net income attributable to Lazard Ltd

 

$

97,042

 

 

$

65,777

 

 

$

46,704

 

 

$

76,977

 

 

$

286,500

 

Attributable to Lazard Ltd Class A common

   stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.87

 

 

$

0.57

 

 

$

0.42

 

 

$

0.70

 

 

$

2.57

 

Diluted

 

$

0.80

 

 

$

0.55

 

 

$

0.40

 

 

$

0.67

 

 

$

2.44

 

Dividends declared per share of common stock

 

$

0.94

 

 

$

0.47

 

 

$

0.47

 

 

$

0.47

 

 

$

2.35

 

 

 

 

2018 Fiscal Quarter

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Year

 

 

 

(dollars in thousands, except per share data)

 

Net revenue

 

$

754,698

 

 

$

757,938

 

 

$

626,481

 

 

$

687,235

 

 

$

2,826,352

 

Operating expenses

 

 

568,870

 

 

 

557,998

 

 

 

487,800

 

 

 

530,918

 

 

 

2,145,586

 

Operating income

 

$

185,828

 

 

$

199,940

 

 

$

138,681

 

 

$

156,317

 

 

$

680,766

 

Net income

 

$

161,661

 

 

$

148,379

 

 

$

108,725

 

 

$

113,684

 

 

$

532,449

 

Less - net income attributable to

   noncontrolling interests

 

 

1,969

 

 

 

1,416

 

 

 

1,651

 

 

 

288

 

 

 

5,324

 

Net income attributable to Lazard Ltd

 

$

159,692

 

 

$

146,963

 

 

$

107,074

 

 

$

113,396

 

 

$

527,125

 

Attributable to Lazard Ltd Class A common

   stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.33

 

 

$

1.22

 

 

$

0.90

 

 

$

0.97

 

 

$

4.43

 

Diluted

 

$

1.21

 

 

$

1.13

 

 

$

0.82

 

 

$

0.89

 

 

$

4.06

 

Dividends declared per share of common stock

 

$

1.71

 

 

$

0.44

 

 

$

0.44

 

 

$

0.44

 

 

$

3.03