$LAZ
Lazard, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020020870 Filed on May 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $558.2M $661.7M
YoY Change -15.65% -13.87%
Cost Of Revenue $46.50M $46.90M
YoY Change -0.85% -3.7%
Gross Profit $511.6M $614.7M
YoY Change -16.77% -14.57%
Gross Profit Margin 91.66% 92.9%
Selling, General & Admin $418.0M $474.8M
YoY Change -11.96% -6.28%
% of Gross Profit 81.7% 77.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.986M $8.186M
YoY Change 9.77% -0.58%
% of Gross Profit 1.76% 1.33%
Operating Expenses $427.6M $492.1M
YoY Change -13.11% -7.79%
Operating Profit $84.10M $119.7M
YoY Change -29.72% -35.61%
Interest Expense $20.14M $18.00M
YoY Change 11.88% 33.29%
% of Operating Profit 23.95% 15.05%
Other Income/Expense, Net $16.81M
YoY Change -35.84%
Pretax Income $84.10M $119.7M
YoY Change -29.74% -35.58%
Income Tax $25.77M $23.19M
% Of Pretax Income 30.64% 19.37%
Net Earnings $64.02M $97.04M
YoY Change -34.03% -39.23%
Net Earnings / Revenue 11.47% 14.67%
Basic Earnings Per Share $0.59 $0.87
Diluted Earnings Per Share $0.56 $0.80
COMMON SHARES
Basic Shares Outstanding 106.3M 111.9M
Diluted Shares Outstanding 114.1M 120.8M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.916B $2.189B
YoY Change -12.48% 17.43%
Cash & Equivalents $793.5M $1.011B
Short-Term Investments
Other Short-Term Assets $41.40M $39.30M
YoY Change 5.34% 1.81%
Inventory
Prepaid Expenses
Receivables $478.9M $503.2M
Other Receivables $109.8M $192.2M
Total Short-Term Assets $2.504B $2.884B
YoY Change -13.17% 13.61%
LONG-TERM ASSETS
Property, Plant & Equipment $220.3M $209.6M
YoY Change 5.11% -2.0%
Goodwill $355.7M $372.4M
YoY Change -4.47% -2.81%
Intangibles
YoY Change
Long-Term Investments $505.8M $615.8M
YoY Change -17.86% 73.46%
Other Assets $569.5M $591.7M
YoY Change -3.75% -7.32%
Total Long-Term Assets $2.591B $2.615B
YoY Change -0.94% 34.36%
TOTAL ASSETS
Total Short-Term Assets $2.504B $2.884B
Total Long-Term Assets $2.591B $2.615B
Total Assets $5.095B $5.499B
YoY Change -7.35% 22.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.145B $1.316B
YoY Change -12.99% 37.69%
Accrued Expenses $962.8M $877.9M
YoY Change 9.67% 164.67%
Deferred Revenue
YoY Change
Short-Term Debt $12.10M $1.800M
YoY Change 572.22%
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $2.120B $2.196B
YoY Change -3.45% 70.55%
LONG-TERM LIABILITIES
Long-Term Debt $1.680B $1.759B
YoY Change -4.5% 47.74%
Other Long-Term Liabilities $734.4M $772.2M
YoY Change -4.9% -17.95%
Total Long-Term Liabilities $2.415B $2.532B
YoY Change -4.62% 18.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.120B $2.196B
Total Long-Term Liabilities $2.415B $2.532B
Total Liabilities $4.609B $4.798B
YoY Change -3.95% 37.55%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $486.4M $701.2M
YoY Change
Total Liabilities & Shareholders Equity $5.095B $5.500B
YoY Change -7.35% 22.62%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $64.02M $97.04M
YoY Change -34.03% -39.23%
Depreciation, Depletion And Amortization $8.986M $8.186M
YoY Change 9.77% -0.58%
Cash From Operating Activities -$156.0M -$161.3M
YoY Change -3.27% 316.57%
INVESTING ACTIVITIES
Capital Expenditures $12.01M $5.871M
YoY Change 104.58% -63.67%
Acquisitions
YoY Change
Other Investing Activities $100.0K $100.0K
YoY Change 0.0% -91.67%
Cash From Investing Activities -$11.94M -$5.801M
YoY Change 105.86% -61.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $95.23M $192.1M
YoY Change -50.43% 31.62%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -310.2M 93.57M
YoY Change -431.49% -115.95%
NET CHANGE
Cash From Operating Activities -156.0M -161.3M
Cash From Investing Activities -11.94M -5.801M
Cash From Financing Activities -310.2M 93.57M
Net Change In Cash -539.9M -103.2M
YoY Change 423.1% -82.54%
FREE CASH FLOW
Cash From Operating Activities -$156.0M -$161.3M
Capital Expenditures $12.01M $5.871M
Free Cash Flow -$168.0M -$167.1M
YoY Change 0.52% 204.59%

Facts In Submission

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CY2020Q1 us-gaap Debt Instrument Carrying Amount
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CY2019Q1 us-gaap Stock Repurchased During Period Shares
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CY2020Q1 us-gaap Minority Interest
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CY2020Q1 us-gaap Allocated Share Based Compensation Expense
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CY2020Q1 laz Issuance Of Restricted Stock Units In Connection With Dividend Participation Rights
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CY2019Q1 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
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CY2020Q1 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2020Q1 laz Weighted Average Number Of Shares Outstanding Basic Before Adjustments
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CY2019Q1 laz Weighted Average Number Of Shares Outstanding Basic Before Adjustments
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CY2020Q1 laz Weighted Average Number Of Basic Shares Outstanding Adjustment
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CY2019Q1 laz Weighted Average Number Of Basic Shares Outstanding Adjustment
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Assets
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Assets
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