2018 Form 10-K Financial Statement

#000156459019004164 Filed on February 26, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017 Q3
Revenue $2.885B $678.8M $624.9M
YoY Change 6.93% -1.84% 2.62%
Cost Of Revenue $191.4M $32.30M $31.60M
YoY Change 53.37% 3.53% 7.85%
Gross Profit $2.693B $660.1M $606.5M
YoY Change 4.68% -2.15% 2.48%
Gross Profit Margin 93.36% 97.24% 97.06%
Selling, General & Admin $1.939B $283.6M $453.1M
YoY Change 14.46% -39.89% 4.71%
% of Gross Profit 71.99% 42.96% 74.71%
Research & Development $139.7M
YoY Change
% of Gross Profit 5.19%
Depreciation & Amortization $34.10M $12.80M $8.000M
YoY Change 8.27% -69.6% -9.09%
% of Gross Profit 1.27% 1.94% 1.32%
Operating Expenses $139.7M $301.5M $462.3M
YoY Change -92.01% -41.76% 4.4%
Operating Profit $680.8M $358.5M $144.2M
YoY Change -17.53% 128.58% -3.21%
Interest Expense $58.48M
YoY Change 9.27%
% of Operating Profit 8.59%
Other Income/Expense, Net $89.49M
YoY Change 103.06%
Pretax Income $680.8M $358.5M $144.2M
YoY Change -17.52% 128.49% -3.22%
Income Tax $148.3M $20.50M $32.70M
% Of Pretax Income 21.79% 5.72% 22.68%
Net Earnings $527.1M -$83.56M $109.2M
YoY Change 107.87% -165.29% -2.96%
Net Earnings / Revenue 18.27% -12.31% 17.48%
Basic Earnings Per Share $4.43 -$0.70 $0.90
Diluted Earnings Per Share $4.06 -$0.70 $0.82
COMMON SHARES
Basic Shares Outstanding 119.0M 129.8M
Diluted Shares Outstanding 129.8M

Balance Sheet

Concept 2018 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.292B $2.455B $1.942B
YoY Change -6.64% 52.71% 36.38%
Cash & Equivalents $2.292B $1.484B $1.942B
Short-Term Investments
Other Short-Term Assets $142.6M $35.50M $35.40M
YoY Change 21.88% 22.41% 0.57%
Inventory
Prepaid Expenses
Receivables $501.4M $487.8M $451.2M
Other Receivables $184.1M $83.80M $100.7M
Total Short-Term Assets $3.120B $3.026B $2.494B
YoY Change -0.74% 34.76% 27.13%
LONG-TERM ASSETS
Property, Plant & Equipment $212.9M $205.3M $200.8M
YoY Change 3.7% -1.78% -1.71%
Goodwill $385.3M $385.5M
YoY Change 3.26% 11.4%
Intangibles
YoY Change
Long-Term Investments $575.1M $427.2M $222.0K
YoY Change 34.62% 192332.43% -99.95%
Other Assets $597.8M $650.3M $1.100B
YoY Change -8.07% -39.55% -0.64%
Total Long-Term Assets $1.877B $1.902B $2.343B
YoY Change 5.15% -17.68% 0.08%
TOTAL ASSETS
Total Short-Term Assets $3.120B $3.026B $2.494B
Total Long-Term Assets $1.877B $1.902B $2.343B
Total Assets $4.997B $4.929B $4.836B
YoY Change 1.39% 8.17% 12.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.154B $992.3M $702.0M
YoY Change 16.32% 110.1% 19.57%
Accrued Expenses $751.6M $593.8M $490.8M
YoY Change 0.31% 9.64% 30.71%
Deferred Revenue
YoY Change
Short-Term Debt $3.900M $0.00 $0.00
YoY Change -46.58%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.910B $1.586B $1.193B
YoY Change 9.19% 56.44% 23.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.434B $1.190B $1.190B
YoY Change 20.49% -0.45% 19.17%
Other Long-Term Liabilities $547.3M $883.9M $1.081B
YoY Change -8.39% -15.33% 4.86%
Total Long-Term Liabilities $1.982B $2.074B $2.271B
YoY Change 10.84% -7.38% 11.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.910B $1.586B $1.193B
Total Long-Term Liabilities $1.982B $2.074B $2.271B
Total Liabilities $4.080B $3.670B $3.529B
YoY Change 9.43% 12.48% 15.34%
SHAREHOLDERS EQUITY
Retained Earnings $1.080B
YoY Change -4.74%
Common Stock $789.4M
YoY Change 14.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $916.9M $1.200B $1.308B
YoY Change
Total Liabilities & Shareholders Equity $4.997B $4.929B $4.836B
YoY Change 1.39% 8.17% 12.41%

Cashflow Statement

Concept 2018 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $527.1M -$83.56M $109.2M
YoY Change 107.87% -165.29% -2.96%
Depreciation, Depletion And Amortization $34.10M $12.80M $8.000M
YoY Change 8.27% -69.6% -9.09%
Cash From Operating Activities $699.0M $323.7M $332.8M
YoY Change -32.07% -2.94% 18.52%
INVESTING ACTIVITIES
Capital Expenditures $49.59M -$12.20M -$6.100M
YoY Change 79.23% -26.51% -44.55%
Acquisitions
YoY Change
Other Investing Activities $3.400M $500.0K $100.0K
YoY Change 325.0% 150.0% -85.71%
Cash From Investing Activities -$46.21M -$11.70M -$6.000M
YoY Change 71.65% -29.09% -41.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $552.9M
YoY Change 80.24%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -726.1M 165.5M -168.7M
YoY Change 127.97% 116.62% 173.42%
NET CHANGE
Cash From Operating Activities 699.0M 323.7M 332.8M
Cash From Investing Activities -46.21M -11.70M -6.000M
Cash From Financing Activities -726.1M 165.5M -168.7M
Net Change In Cash -162.9M 477.5M 158.1M
YoY Change -119.23% 21.38% -24.32%
FREE CASH FLOW
Cash From Operating Activities $699.0M $323.7M $332.8M
Capital Expenditures $49.59M -$12.20M -$6.100M
Free Cash Flow $649.4M $335.9M $338.9M
YoY Change -35.15% -4.06% 16.14%

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CY2018 us-gaap Use Of Estimates
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates&#8212;<font style="font-weight:normal;font-style:normal;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of management&#8217;s estimates. 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width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the assessment of probability with respect to recognizing revenue;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the adequacy of the allowance for doubtful accounts;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the realization of deferred tax assets and adequacy of tax reserves for uncertain tax positions;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the measurement of our tax receivable agreement obligation;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; 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CY2018Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
586605000
CY2018Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
10009000
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
188962000
CY2018Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
202900000
CY2017Q4 us-gaap Derivative Assets
DerivativeAssets
3732000
CY2017Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
430362000
CY2017Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
28941000
CY2017Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
198417000
CY2017Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
234696000
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1592000
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
61000
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
1000
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
0
CY2018 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignCurrencyTranslationAdjustments
-32000
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1622000
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
28941000
CY2018 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslationAdjustments
0
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
10009000
CY2016Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1508000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
14000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
1661000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
1669000
CY2017 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignCurrencyTranslationAdjustments
78000
CY2016Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
22608000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-6582000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
249000
CY2017 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslationAdjustments
0
CY2015Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1276000
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
248000
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
0
CY2016 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignCurrencyTranslationAdjustments
-16000
CY2015Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-32725000
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
19950000
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
30067000
CY2016 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslationAdjustments
0
CY2018 laz Fair Value Transfers Between Level One Level Two And Level Three Amount
FairValueTransfersBetweenLevelOneLevelTwoAndLevelThreeAmount
0
CY2017 laz Fair Value Transfers Between Level One Level Two And Level Three Amount
FairValueTransfersBetweenLevelOneLevelTwoAndLevelThreeAmount
0
CY2018Q4 us-gaap Alternative Investment
AlternativeInvestment
57273000
CY2018Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
8338000
CY2017Q4 us-gaap Alternative Investment
AlternativeInvestment
80378000
CY2017Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
10300000
CY2018 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
30483000
CY2017 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-48379000
CY2016 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-10207000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
552716000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
523128000
CY2018Q4 us-gaap Goodwill
Goodwill
371561000
CY2017Q4 us-gaap Goodwill
Goodwill
385292000
CY2018Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
3757000
CY2017Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
6072000
CY2016Q4 us-gaap Goodwill
Goodwill
373117000
CY2015Q4 us-gaap Goodwill
Goodwill
320761000
CY2016 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
54631000
CY2018 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-13731000
CY2017 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
12175000
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-2275000
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2018Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
69706000
CY2017Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
69171000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3035000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2932000
CY2016 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2522000
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FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1720000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1699000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
150000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
150000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
38000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
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3757000
CY2018Q4 laz Income And Other Tax Receivables Current
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35439000
CY2017Q4 laz Income And Other Tax Receivables Current
IncomeAndOtherTaxReceivablesCurrent
38804000
CY2018Q4 laz Prepaid Compensation Asset
PrepaidCompensationAsset
76362000
CY2017Q4 laz Prepaid Compensation Asset
PrepaidCompensationAsset
60355000
CY2018Q4 laz Advances And Prepayments
AdvancesAndPrepayments
66266000
CY2017Q4 laz Advances And Prepayments
AdvancesAndPrepayments
56595000
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
80567000
CY2017Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
72390000
CY2018Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
166112000
CY2017Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
155551000
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
130261000
CY2017Q4 us-gaap Taxes Payable Current
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123548000
CY2018Q4 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
51051000
CY2017Q4 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
69201000
CY2018Q4 laz Deferred Lease Liability
DeferredLeaseLiability
84449000
CY2017Q4 laz Deferred Lease Liability
DeferredLeaseLiability
85028000
CY2018Q4 laz Unclaimed Funds Of Subsidiaries
UnclaimedFundsOfSubsidiaries
17746000
CY2017Q4 laz Unclaimed Funds Of Subsidiaries
UnclaimedFundsOfSubsidiaries
14962000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
80995000
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
45390000
CY2018Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
32434000
CY2017Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
43629000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1450000000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
15740000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1200000000
CY2017Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9617000
CY2018 laz Duration Office Space Agreements Expire
DurationOfficeSpaceAgreementsExpire
2033
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
84636000
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
84632000
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
76704000
CY2018 laz Duration Office Space Sublease Agreements Expire
DurationOfficeSpaceSubleaseAgreementsExpire
2022
CY2018 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
7519000
CY2017 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
7659000
CY2016 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
7858000
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2017
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
86839000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
89445000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
83701000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
70780000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
59973000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
488612000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
879350000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
26941000
CY2018Q4 laz Operating Leases Future Minimum Payments Due Net Of Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseRentals
852409000
CY2018Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
4991000
CY2018Q4 laz Guarantor Obligations Collateral Held
GuarantorObligationsCollateralHeld
4947000
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
8551271
CY2017 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
6956097
CY2018 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
12206652
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35.11
CY2017 laz Average Price Per Common Share
AveragePricePerCommonShare
44.10
CY2018 laz Average Price Per Common Share
AveragePricePerCommonShare
45.29
CY2018Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
295512000
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OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-52036000
CY2018 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-10735000
CY2017 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
73754000
CY2017 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-7951000
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OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-82393000
CY2016 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-2526000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
267573000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
272965000
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
261462000
CY2018 laz Issuance Of Restricted Stock Units In Connection With Dividend Participation Rights
IssuanceOfRestrictedStockUnitsInConnectionWithDividendParticipationRights
888472
CY2017 laz Issuance Of Restricted Stock Units In Connection With Dividend Participation Rights
IssuanceOfRestrictedStockUnitsInConnectionWithDividendParticipationRights
985584
CY2016 laz Issuance Of Restricted Stock Units In Connection With Dividend Participation Rights
IssuanceOfRestrictedStockUnitsInConnectionWithDividendParticipationRights
1085354
CY2018 laz Charge To Retained Earnings Pertaining To Issuance Of Restricted Stock Units In Connection With Participation Rights
ChargeToRetainedEarningsPertainingToIssuanceOfRestrictedStockUnitsInConnectionWithParticipationRights
44255000
CY2017 laz Charge To Retained Earnings Pertaining To Issuance Of Restricted Stock Units In Connection With Participation Rights
ChargeToRetainedEarningsPertainingToIssuanceOfRestrictedStockUnitsInConnectionWithParticipationRights
41746000
CY2016 laz Charge To Retained Earnings Pertaining To Issuance Of Restricted Stock Units In Connection With Participation Rights
ChargeToRetainedEarningsPertainingToIssuanceOfRestrictedStockUnitsInConnectionWithParticipationRights
37284000
CY2018 laz Amortization Of Awarded Grants Net Of Forfeitures
AmortizationOfAwardedGrantsNetOfForfeitures
90230000
CY2017 laz Amortization Of Awarded Grants Net Of Forfeitures
AmortizationOfAwardedGrantsNetOfForfeitures
73382000
CY2016 laz Amortization Of Awarded Grants Net Of Forfeitures
AmortizationOfAwardedGrantsNetOfForfeitures
75573000
CY2018 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
CompensationExpenseRelatedToChangeInFairValueOfUnderlyingInvestments
-14086000
CY2017 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
CompensationExpenseRelatedToChangeInFairValueOfUnderlyingInvestments
23526000
CY2016 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
CompensationExpenseRelatedToChangeInFairValueOfUnderlyingInvestments
3318000
CY2018 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
76144000
CY2017 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
96908000
CY2016 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
78891000
CY2018 laz Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDescription
RSUs, restricted Class A common stock and LFI granted generally provide for one-third vesting on the second anniversary of the grant date and the remaining two-thirds vesting on the third anniversary of the grant date, so long as applicable conditions have been satisfied. The PIPRs granted generally provide for vesting on the third anniversary of the grant date, so long as applicable conditions have been satisfied.
CY2018 laz Tax Benefits On Amounts Recognized In Aoci Related To Defined Benefit Plans
TaxBenefitsOnAmountsRecognizedInAociRelatedToDefinedBenefitPlans
33231000
CY2017 laz Tax Benefits On Amounts Recognized In Aoci Related To Defined Benefit Plans
TaxBenefitsOnAmountsRecognizedInAociRelatedToDefinedBenefitPlans
35154000
CY2018Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
642837000
CY2017Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
728281000
CY2018Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
655015000
CY2017Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
763831000
CY2018Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
655015000
CY2017Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
763831000
CY2018 laz Tax Expense Benefit On Other Changes In Plan Assets And Benefit Obligations Recognized In Aoci
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1923000
CY2017 laz Tax Expense Benefit On Other Changes In Plan Assets And Benefit Obligations Recognized In Aoci
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-3448000
CY2018Q4 laz Equity Funds That Invested In Funds Managed By Company
EquityFundsThatInvestedInFundsManagedByCompany
87129000
CY2017Q4 laz Equity Funds That Invested In Funds Managed By Company
EquityFundsThatInvestedInFundsManagedByCompany
102455000
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15872000
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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15065000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
14454000
CY2017 laz Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Asset Income Tax Expense Benefit
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420000000
CY2018 us-gaap Current Federal Tax Expense Benefit
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2507000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
349000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1766000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
95279000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
64119000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
54253000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5145000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-32000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4090000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
102931000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
64436000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
60109000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
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49604000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
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480085000
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
50602000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-12632000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
12928000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
1354000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
8414000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
8150000
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
11704000
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
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0.010
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.434
CY2018 laz Effective Income Tax Rate Reconciliation Foreign Source Income Loss Not Subject To Domestic Tax
EffectiveIncomeTaxRateReconciliationForeignSourceIncomeLossNotSubjectToDomesticTax
-0.022
CY2017 laz Effective Income Tax Rate Reconciliation Foreign Source Income Loss Not Subject To Domestic Tax
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-0.042
CY2016 laz Effective Income Tax Rate Reconciliation Foreign Source Income Loss Not Subject To Domestic Tax
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-0.093
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.021
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.034
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.036
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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-0.050
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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