$LAZ
Lazard, Inc.

2017 Q2 Form 10-Q Financial Statement

#000156459018017927 Filed on July 31, 2018

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $717.2M
YoY Change 31.2%
Cost Of Revenue $31.10M
YoY Change 11.47%
Gross Profit $698.8M
YoY Change 34.7%
Gross Profit Margin 97.44%
Selling, General & Admin $512.7M
YoY Change 29.83%
% of Gross Profit 73.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.900M
YoY Change 3.49%
% of Gross Profit 1.27%
Operating Expenses $526.3M
YoY Change 29.79%
Operating Profit $172.5M
YoY Change 52.34%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $12.35M
YoY Change 19.59%
Pretax Income $172.5M
YoY Change 52.39%
Income Tax $51.60M
% Of Pretax Income 29.91%
Net Earnings $120.4M
YoY Change 49.8%
Net Earnings / Revenue 16.78%
Basic Earnings Per Share $0.98
Diluted Earnings Per Share $0.91
COMMON SHARES
Basic Shares Outstanding 122.4M
Diluted Shares Outstanding 132.1M

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.747B
YoY Change 29.64%
Cash & Equivalents $1.747B
Short-Term Investments
Other Short-Term Assets $34.50M
YoY Change 2.99%
Inventory
Prepaid Expenses
Receivables $527.5M
Other Receivables $127.2M
Total Short-Term Assets $2.401B
YoY Change 30.32%
LONG-TERM ASSETS
Property, Plant & Equipment $200.3M
YoY Change -0.81%
Goodwill $381.9M
YoY Change 18.26%
Intangibles
YoY Change
Long-Term Investments $222.0K
YoY Change -99.95%
Other Assets $1.114B
YoY Change -0.88%
Total Long-Term Assets $2.368B
YoY Change -0.19%
TOTAL ASSETS
Total Short-Term Assets $2.401B
Total Long-Term Assets $2.368B
Total Assets $4.770B
YoY Change 13.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $830.0M
YoY Change 15.09%
Accrued Expenses $378.3M
YoY Change 39.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.208B
YoY Change 21.84%
LONG-TERM LIABILITIES
Long-Term Debt $1.190B
YoY Change 19.13%
Other Long-Term Liabilities $1.060B
YoY Change 4.87%
Total Long-Term Liabilities $2.250B
YoY Change 11.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.208B
Total Long-Term Liabilities $2.250B
Total Liabilities $3.467B
YoY Change 15.14%
SHAREHOLDERS EQUITY
Retained Earnings $1.166B
YoY Change 16.82%
Common Stock $674.5M
YoY Change 18.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.243B
YoY Change
Total Liabilities & Shareholders Equity $4.770B
YoY Change 13.14%

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income $120.4M
YoY Change 49.8%
Depreciation, Depletion And Amortization $8.900M
YoY Change 3.49%
Cash From Operating Activities $273.3M
YoY Change 131.22%
INVESTING ACTIVITIES
Capital Expenditures -$5.600M
YoY Change 0.0%
Acquisitions
YoY Change
Other Investing Activities $100.0K
YoY Change 0.0%
Cash From Investing Activities -$5.500M
YoY Change -1.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -91.30M
YoY Change -41.77%
NET CHANGE
Cash From Operating Activities 273.3M
Cash From Investing Activities -5.500M
Cash From Financing Activities -91.30M
Net Change In Cash 176.5M
YoY Change -499.32%
FREE CASH FLOW
Cash From Operating Activities $273.3M
Capital Expenditures -$5.600M
Free Cash Flow $278.9M
YoY Change 125.28%

Facts In Submission

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CY2018Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Derivative Gain Loss On Derivative Net
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CY2018Q2 us-gaap Property Plant And Equipment Gross
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CY2017Q4 us-gaap Property Plant And Equipment Gross
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CY2018Q2 us-gaap Goodwill
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CY2017Q4 us-gaap Goodwill
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2017Q2 us-gaap Goodwill
Goodwill
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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1651000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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1701000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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150000
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150000
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5096000
laz Percentage Of Intangible Asset Amortization Attributable To Noncontrolling Interests
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CY2017Q4 us-gaap Debt Instrument Carrying Amount
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CY2017Q4 us-gaap Deferred Finance Costs Net
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CY2018Q2 us-gaap Guarantee Obligations Maximum Exposure
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CY2018Q2 laz Guarantor Obligations Collateral Held
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us-gaap Stock Repurchased During Period Shares
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CY2017Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2018Q2 us-gaap Allocated Share Based Compensation Expense
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CY2017Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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169830000
laz Issuance Of Restricted Stock Units In Connection With Dividend Participation Rights
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laz Issuance Of Restricted Stock Units In Connection With Dividend Participation Rights
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laz Charge To Retained Earnings Pertaining To Issuance Of Restricted Stock Units In Connection With Participation Rights
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laz Charge To Retained Earnings Pertaining To Issuance Of Restricted Stock Units In Connection With Participation Rights
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CY2018Q2 laz Amortization Of Awarded Grants Net Of Forfeitures
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36293000
CY2017Q2 laz Amortization Of Awarded Grants Net Of Forfeitures
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28310000
laz Amortization Of Awarded Grants Net Of Forfeitures
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52129000
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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120378000
laz Amortization Of Awarded Grants Net Of Forfeitures
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41293000
CY2018Q2 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
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CY2017Q2 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2017 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
CompensationExpenseRelatedToChangeInFairValueOfUnderlyingInvestments
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laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
CompensationExpenseRelatedToChangeInFairValueOfUnderlyingInvestments
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CY2018Q2 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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CY2017Q2 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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34063000
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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50194000
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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us-gaap Net Income Loss Available To Common Stockholders Basic
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306655000
us-gaap Net Income Loss Available To Common Stockholders Basic
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227931000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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306655000
us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2018Q2 us-gaap Weighted Average Number Of Shares Issued Basic
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120049627
CY2017Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
122085842
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
119872688
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
122308531
CY2018Q2 laz Weighted Average Number Of Shares Non Contingently Issuable Adjustment
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256630
CY2017Q2 laz Weighted Average Number Of Shares Non Contingently Issuable Adjustment
WeightedAverageNumberOfSharesNonContingentlyIssuableAdjustment
282308
laz Weighted Average Number Of Shares Non Contingently Issuable Adjustment
WeightedAverageNumberOfSharesNonContingentlyIssuableAdjustment
245494
laz Weighted Average Number Of Shares Non Contingently Issuable Adjustment
WeightedAverageNumberOfSharesNonContingentlyIssuableAdjustment
283125
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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9942797
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9771466
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11077543
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9822840

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