XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE        
Interest income $ 12,520 $ 10,854 $ 23,922 $ 23,113
Other 18,497 29,614 63,278 40,097
Total revenue 707,704 662,213 1,493,763 1,222,945
Interest expense 22,409 18,802 42,531 37,662
Net revenue 685,295 643,411 1,451,232 1,185,283
OPERATING EXPENSES        
Compensation and benefits 452,548 569,151 1,003,363 1,016,754
Occupancy and equipment 32,061 32,700 64,660 64,401
Marketing and business development 25,493 28,560 49,091 51,262
Technology and information services 46,404 51,324 91,319 95,324
Professional services 22,521 20,161 41,793 43,550
Fund administration and outsourced services 27,114 28,968 53,254 55,544
Amortization and other acquisition-related costs 68 95 136 143
Other 14,290 17,609 26,125 37,873
Total operating expenses 620,499 748,568 1,329,741 1,364,851
OPERATING INCOME (LOSS) 64,796 (105,157) 121,491 (179,568)
Provision for income taxes 15,398 163,767 31,146 96,779
NET INCOME (LOSS) 49,398 (268,924) 90,345 (276,347)
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS 2,144 3,636 6,613 10,609
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD GROUP LLC 47,254 (272,560) 83,732 (286,956)
Investment banking and other advisory fees        
REVENUE        
Revenue 408,773 350,108 861,800 626,619
Asset management fees        
REVENUE        
Revenue $ 267,914 $ 271,637 $ 544,763 $ 533,116