2024 Q1 Form 10-K Financial Statement

#000162828024006659 Filed on February 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $785.5M $825.8M $2.593B
YoY Change 39.79% 12.83% -9.17%
Cost Of Revenue $47.19M $188.6M
YoY Change 7.05% -1.54%
Gross Profit $778.6M $2.423B
YoY Change 13.2% -9.05%
Gross Profit Margin 94.29% 93.42%
Selling, General & Admin $671.1M $2.219B
YoY Change 11.92% 5.56%
% of Gross Profit 86.2% 91.59%
Research & Development $44.92M $189.7M
YoY Change 1.99% 10.46%
% of Gross Profit 7.83%
Depreciation & Amortization $9.134M $10.77M $42.85M
YoY Change -18.04% 3.01% 1.22%
% of Gross Profit 1.38% 1.77%
Operating Expenses $44.92M $690.8M $189.7M
YoY Change 1.99% 12.39% 10.46%
Operating Profit $54.56M $87.79M -$79.96M
YoY Change -247.77% 20.03% -115.47%
Interest Expense $20.73M -$80.00K $77.67M
YoY Change 6.43% -4.72%
% of Operating Profit 37.99% -0.09%
Other Income/Expense, Net $11.91M $72.67M
YoY Change -41.35% 62.01%
Pretax Income $71.90M -$79.96M
YoY Change -1.7% -115.47%
Income Tax $14.34M $403.0K -$22.65M
% Of Pretax Income 0.56%
Net Earnings $35.76M $62.04M -$75.48M
YoY Change -261.26% 50.02% -121.11%
Net Earnings / Revenue 4.55% 7.51% -2.91%
Basic Earnings Per Share $0.38 -$0.90
Diluted Earnings Per Share $0.35 $0.69 -$0.90
COMMON SHARES
Basic Shares Outstanding 112.8M shares 112.8M shares 88.99M shares
Diluted Shares Outstanding 99.35M shares 88.99M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.191B $1.191B
YoY Change -40.87% -40.87%
Cash & Equivalents $923.2M $971.3M $1.191B
Short-Term Investments
Other Short-Term Assets $233.4M
YoY Change 7.15%
Inventory
Prepaid Expenses
Receivables $560.6M $560.6M
Other Receivables $201.8M $201.8M
Total Short-Term Assets $1.953B $2.187B
YoY Change -26.76% -24.2%
LONG-TERM ASSETS
Property, Plant & Equipment $227.5M $232.5M $639.7M
YoY Change -7.39% -7.02% -6.15%
Goodwill $394.1M $394.9M
YoY Change -0.02% 4.68%
Intangibles
YoY Change
Long-Term Investments $0.00 $702.0M
YoY Change -100.0% 0.43%
Other Assets $531.4M $531.4M
YoY Change -48.56% -48.56%
Total Long-Term Assets $2.683B $2.449B
YoY Change -15.8% -17.48%
TOTAL ASSETS
Total Short-Term Assets $1.953B $2.187B
Total Long-Term Assets $2.683B $2.449B
Total Assets $4.587B $4.636B $4.636B
YoY Change 0.43% -20.79% -20.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $1.267B $1.462B
YoY Change 1.38% 1.12%
Deferred Revenue
YoY Change
Short-Term Debt $448.1M $448.1M
YoY Change -51.64% -51.64%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.715B $1.910B
YoY Change -21.19% -19.48%
LONG-TERM LIABILITIES
Long-Term Debt $1.778B $1.778B
YoY Change -21.72% -21.72%
Other Long-Term Liabilities $657.2M $323.6M
YoY Change -9.51% -21.53%
Total Long-Term Liabilities $2.435B $2.101B
YoY Change -18.76% -21.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.715B $1.910B
Total Long-Term Liabilities $2.435B $2.101B
Total Liabilities $4.050B $4.066B $4.212B
YoY Change 2.02% -11.49% -20.47%
SHAREHOLDERS EQUITY
Retained Earnings $1.385B $1.403B
YoY Change -13.7% -16.35%
Common Stock $135.7M $248.3M
YoY Change 42.18% 46.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $392.7M $423.8M $423.8M
YoY Change
Total Liabilities & Shareholders Equity $4.587B $4.636B $4.636B
YoY Change 0.43% -20.79% -20.79%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $35.76M $62.04M -$75.48M
YoY Change -261.26% 50.02% -121.11%
Depreciation, Depletion And Amortization $9.134M $10.77M $42.85M
YoY Change -18.04% 3.01% 1.22%
Cash From Operating Activities -$89.99M $341.6M $164.7M
YoY Change -78.13% 8.68% -80.26%
INVESTING ACTIVITIES
Capital Expenditures $6.619M $8.792M $28.30M
YoY Change 43.52% -64.15% -42.85%
Acquisitions $0.00 $10.52M
YoY Change -100.0%
Other Investing Activities $138.0K -$10.03M
YoY Change -54.15% -233.68%
Cash From Investing Activities -$6.607M -$8.654M -$38.32M
YoY Change -56.32% -64.28% -32.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $102.1M
YoY Change -85.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $98.49M -150.3M -$1.571B
YoY Change -109.18% -80.76% 13.69%
NET CHANGE
Cash From Operating Activities -$89.99M 341.6M $164.7M
Cash From Investing Activities -$6.607M -8.654M -$38.32M
Cash From Financing Activities $98.49M -150.3M -$1.571B
Net Change In Cash -$20.33M 182.7M -$1.414B
YoY Change -98.63% -137.2% 78.9%
FREE CASH FLOW
Cash From Operating Activities -$89.99M $341.6M $164.7M
Capital Expenditures $6.619M $8.792M $28.30M
Free Cash Flow -$96.61M $332.8M $136.4M
YoY Change -76.78% 14.84% -82.62%

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CY2021 us-gaap Revenues
Revenues
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CY2023 us-gaap Interest Expense
InterestExpense
77673000 usd
CY2022 us-gaap Interest Expense
InterestExpense
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CY2021 us-gaap Interest Expense
InterestExpense
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CY2022 us-gaap Revenues Net Of Interest Expense
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CY2021 us-gaap Revenues Net Of Interest Expense
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CY2021 us-gaap Labor And Related Expense
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CY2023 us-gaap Communications And Information Technology
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FundAdministrationAndOutsourcedServicesExpense
130502000 usd
CY2023 us-gaap Other Expenses
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72666000 usd
CY2023 us-gaap Costs And Expenses
CostsAndExpenses
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CY2022 us-gaap Costs And Expenses
CostsAndExpenses
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OperatingIncomeLoss
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CY2021 us-gaap Operating Income Loss
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Profit Loss
ProfitLoss
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CY2022 us-gaap Profit Loss
ProfitLoss
392483000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
542545000 usd
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18172000 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
34966000 usd
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14481000 usd
CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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357517000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
528064000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.51
CY2021 us-gaap Earnings Per Share Diluted
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CY2023 us-gaap Profit Loss
ProfitLoss
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CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2023 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2021 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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CY2021 us-gaap Profit Loss
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CY2023 laz Currency Translation Adjustment Reclassification
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CY2022 laz Currency Translation Adjustment Reclassification
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CY2021 laz Currency Translation Adjustment Reclassification
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CY2023 laz Amortization Of Deferred Expenses And Sharebased Incentive Compensation
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CY2022 laz Amortization Of Deferred Expenses And Sharebased Incentive Compensation
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CY2021 laz Amortization Of Deferred Expenses And Sharebased Incentive Compensation
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CY2023 laz Amortization And Other Acquisition Related Costs
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CY2022 laz Amortization And Other Acquisition Related Costs
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2023 laz Provision Benefit Pursuant To Tax Receivable Agreement
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CY2021 laz Provision Benefit Pursuant To Tax Receivable Agreement
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CY2023 laz Impairment Of Equity Method Investments And Other Receivables
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22981000 usd
CY2022 laz Impairment Of Equity Method Investments And Other Receivables
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CY2021 laz Impairment Of Equity Method Investments And Other Receivables
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CY2021 laz Impairment Of Assets Associated With Cost Saving Initiatives
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LossOnAffiliatedEntityLiquidation
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CY2022 laz Payment For Underwriting And Other Fees
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CY2021 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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CY2023 us-gaap Payments For Repurchase Of Common Stock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 laz Payments For Consolidated Funds Redemptions
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 laz Deposits With Banks And Short Term Investments Fair Value Disclosure
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CY2022Q4 laz Deposits With Banks And Short Term Investments Fair Value Disclosure
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CY2021Q4 laz Deposits With Banks And Short Term Investments Fair Value Disclosure
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CY2022Q4 us-gaap Restricted Cash
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CY2021Q4 us-gaap Restricted Cash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1224983000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2639400000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3430014000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
73684000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
77441000 usd
CY2021 us-gaap Stockholders Equity Other
StockholdersEquityOther
3000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1077964000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
77986000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
44230000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
144312000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
74095000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
675399000 usd
CY2023 laz Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
-69288000 usd
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5905000 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
250570000 usd
CY2023 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
11600000 usd
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.00
CY2023 us-gaap Dividends Common Stock
DividendsCommonStock
173075000 usd
CY2023 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
102051000 usd
CY2023 laz Tax Expense Benefit From Stock Issued In Connection With Share Based Incentive Compensation
TaxExpenseBenefitFromStockIssuedInConnectionWithShareBasedIncentiveCompensation
-253000 usd
CY2023 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-54276000 usd
CY2023 laz Stock Issued Issuable During Period Value Business Acquisitions Mergers And Amortization
StockIssuedIssuableDuringPeriodValueBusinessAcquisitionsMergersAndAmortization
1775000 usd
CY2023 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 usd
CY2023 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3725000 usd
CY2023 laz Consolidated Variable Interest Entities
ConsolidatedVariableInterestEntities
-74164000 usd
CY2023 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-589000 usd
CY2023 laz Reversal To Net Loss Of Amounts Previously Charged To Additional Paid In Capital And Noncontrolling Interests
ReversalToNetLossOfAmountsPreviouslyChargedToAdditionalPaidInCapitalAndNoncontrollingInterests
17929000 usd
CY2023 laz Reversal Of Deferred Offering Costs Liability
ReversalOfDeferredOfferingCostsLiability
20125000 usd
CY2023 us-gaap Stockholders Equity Other
StockholdersEquityOther
748000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
482187000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1077964000 usd
CY2022 laz Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
378471000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-72007000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
240641000 usd
CY2022 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
10872000 usd
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.94
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
181880000 usd
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
691705000 usd
CY2022 laz Tax Expense Benefit From Stock Issued In Connection With Share Based Incentive Compensation
TaxExpenseBenefitFromStockIssuedInConnectionWithShareBasedIncentiveCompensation
-6441000 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-55477000 usd
CY2022 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
31537000 usd
CY2022 laz Consolidated Variable Interest Entities
ConsolidatedVariableInterestEntities
18279000 usd
CY2022 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
5541000 usd
CY2022 us-gaap Stockholders Equity Other
StockholdersEquityOther
2019000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
675399000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
999433000 usd
CY2021 laz Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
546210000 usd
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
14521000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
233958000 usd
CY2021 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
8359000 usd
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.88
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
195944000 usd
CY2021 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
406149000 usd
CY2021 laz Tax Expense Benefit From Stock Issued In Connection With Share Based Incentive Compensation
TaxExpenseBenefitFromStockIssuedInConnectionWithShareBasedIncentiveCompensation
1539000 usd
CY2021 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-69552000 usd
CY2021 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 usd
CY2021 laz Dividend Equivalents Business Acquisitions
DividendEquivalentsBusinessAcquisitions
0 usd
CY2021 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
11064000 usd
CY2021 laz Consolidated Variable Interest Entities
ConsolidatedVariableInterestEntities
18832000 usd
CY2021 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-43919000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023 laz Foreign Currency Remeasurement Gains Losses Net Of Gains And Losses From Forward Foreign Currency Exchange Rate Contracts
ForeignCurrencyRemeasurementGainsLossesNetOfGainsAndLossesFromForwardForeignCurrencyExchangeRateContracts
-5574000 usd
CY2022 laz Foreign Currency Remeasurement Gains Losses Net Of Gains And Losses From Forward Foreign Currency Exchange Rate Contracts
ForeignCurrencyRemeasurementGainsLossesNetOfGainsAndLossesFromForwardForeignCurrencyExchangeRateContracts
399000 usd
CY2021 laz Foreign Currency Remeasurement Gains Losses Net Of Gains And Losses From Forward Foreign Currency Exchange Rate Contracts
ForeignCurrencyRemeasurementGainsLossesNetOfGainsAndLossesFromForwardForeignCurrencyExchangeRateContracts
-1234000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of management’s estimates. In preparing the consolidated financial statements, management makes estimates and assumptions regarding:</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">valuations of assets and liabilities requiring fair value estimates including, but not limited to, investments, derivatives and assumptions used to value pension and other post-retirement plans;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the assessment of probability with respect to recognizing revenue;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the discount rate used to measure operating lease right-of-use assets and operating lease liabilities;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the adequacy of the allowance for credit losses;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the realization of deferred tax assets and adequacy of tax reserves for uncertain tax positions;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the measurement of our tax receivable agreement obligation;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the outcome of litigation;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the carrying amount of goodwill and other intangible assets;</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">the vesting of share-based and other deferred compensation plan awards; and</span></div><div style="margin-top:6pt;padding-left:72pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">other matters that affect the reported amounts and disclosure of contingencies in the consolidated financial statements.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Estimates, by their nature, are based on judgment and available information. Therefore, actual results could differ from those estimates and could have a material impact on the consolidated financial statements.</span></div>
CY2023Q4 laz Fee Receivable Credit Term
FeeReceivableCreditTerm
P60D
CY2023Q4 laz Fee Receivable Threshold Period Past Due
FeeReceivableThresholdPeriodPastDue
P60D
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
42853000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
42336000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
38315000 usd
CY2023Q4 laz Financing Fee Receivable
FinancingFeeReceivable
113929000 usd
CY2022Q4 laz Financing Fee Receivable
FinancingFeeReceivable
97964000 usd
CY2023Q4 laz Other Fees And Customers And Other Receivables Not Discussed Elsewhere In The Note
OtherFeesAndCustomersAndOtherReceivablesNotDiscussedElsewhereInTheNote
561978000 usd
CY2022Q4 laz Other Fees And Customers And Other Receivables Not Discussed Elsewhere In The Note
OtherFeesAndCustomersAndOtherReceivablesNotDiscussedElsewhereInTheNote
425904000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
17738000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
33957000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
36649000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
20875000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4012000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3807000 usd
CY2023 laz Allowance For Doubtful Accounts Receivable Charge Offs Foreign Currency Translation And Other Adjustments
AllowanceForDoubtfulAccountsReceivableChargeOffsForeignCurrencyTranslationAndOtherAdjustments
10110000 usd
CY2022 laz Allowance For Doubtful Accounts Receivable Charge Offs Foreign Currency Translation And Other Adjustments
AllowanceForDoubtfulAccountsReceivableChargeOffsForeignCurrencyTranslationAndOtherAdjustments
20231000 usd
CY2021 laz Allowance For Doubtful Accounts Receivable Charge Offs Foreign Currency Translation And Other Adjustments
AllowanceForDoubtfulAccountsReceivableChargeOffsForeignCurrencyTranslationAndOtherAdjustments
6499000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
28503000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
17738000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
33957000 usd
CY2023Q4 laz Investments Fair Value Disclosure Excluding Equity Method Investments
InvestmentsFairValueDisclosureExcludingEquityMethodInvestments
701964000 usd
CY2022Q4 laz Investments Fair Value Disclosure Excluding Equity Method Investments
InvestmentsFairValueDisclosureExcludingEquityMethodInvestments
683496000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
0 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
15481000 usd
CY2023Q4 us-gaap Investments
Investments
701964000 usd
CY2022Q4 us-gaap Investments
Investments
698977000 usd
CY2023 laz Net Unrealized Gains Losses On Investments In Equity Securities And Trading Debt Securities
NetUnrealizedGainsLossesOnInvestmentsInEquitySecuritiesAndTradingDebtSecurities
54228000 usd
CY2022 laz Net Unrealized Gains Losses On Investments In Equity Securities And Trading Debt Securities
NetUnrealizedGainsLossesOnInvestmentsInEquitySecuritiesAndTradingDebtSecurities
-92793000 usd
CY2021 laz Net Unrealized Gains Losses On Investments In Equity Securities And Trading Debt Securities
NetUnrealizedGainsLossesOnInvestmentsInEquitySecuritiesAndTradingDebtSecurities
14154000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
698050000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
19418000 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
54000 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
18789000 usd
CY2023 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignCurrencyTranslationAdjustments
83000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
766000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
274000 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
7754000 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
1445000 usd
CY2023 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslationAdjustments
0 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
6583000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
871000 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
99000 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
18000000 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
13000 usd
CY2022 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignCurrencyTranslationAdjustments
461000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
19418000 usd
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
3157000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
155000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
2356000 usd
CY2021 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignCurrencyTranslationAdjustments
-85000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
871000 usd
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
0 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
11500000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
11500000 usd
CY2021 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation Adjustments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslationAdjustments
0 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 usd
CY2022 laz Fair Value Transfers Into Or Out Of Level3
FairValueTransfersIntoOrOutOfLevel3
0 usd
CY2023 laz Fair Value Transfers Into Or Out Of Level3
FairValueTransfersIntoOrOutOfLevel3
0 usd
CY2021 laz Fair Value Transfers Into Or Out Of Level3
FairValueTransfersIntoOrOutOfLevel3
0 usd
CY2023Q4 us-gaap Alternative Investment
AlternativeInvestment
92599000 usd
CY2023Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
5505000 usd
CY2022Q4 us-gaap Alternative Investment
AlternativeInvestment
64968000 usd
CY2022Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
5455000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
3533000 usd
CY2023Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
288113000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
379557000 usd
CY2023Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
640734000 usd
CY2023Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2023Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
243000 usd
CY2023Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 usd
CY2023Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
2789000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
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CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
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