LAZARD LTD LAZ Cash Flow

Lazard ltd (LAZ)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME
297,716	532,449	259,847	393,692	992,932	434,063	165,114	92,785	190,559	194,423	-188,245	-239
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property
35,572	34,103	31,498	33,264	32,785	34,464	34,750	30,855	24,580	22,712	22,541	20,825
Noncash lease expense
60,053	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred expenses and share-based incentive compensation
365,821	371,434	359,381	341,825	320,472	295,830	310,036	360,751	300,286	316,232	372,472	246,906
Amortization and other acquisition-related costs
19,410	-15,897	9,514	35,247	5,821	6,387	10,114	8,359	11,915	7,867	4,990	4,596
Deferred tax provision
24,872	45,386	501,163	63,660	-1,100,785	15,628	14,454	-4,457	7,214	8,116	-23,434	-31,652
Benefit pursuant to tax receivable agreement
-503	-6,495	-202,546	-	547,691	18,307	1,249	-	-	-	-	-
Investment losses (including other-than-temporary impairment losses)
-	-	-	-	-	-	-	-	-	8,854	-1,825	-
Loss on extinguishment of debt
-6,505	-6,523	-	-3,148	-60,219	-	-50,757	-	18,171	-424	-258	20,253
Gain on acquisition of portion of business already owned
-	-	-	12,668	-	-	-	-	-	-	-	-
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Gain on disposal of subsidiaries
-	-	-	-	24,388	-	-	-	-	-	-	-
Deposits with banks and short-term investments
-	-	-	-	207,373	-8,544	58,570	-806	63,639	-221,072	84,033	248,438
Stock portion of charge related to LAM Merger
-	-	-	-	-	-	-	-	-	-	-	64,512
Cash deposited with clearing organizations and other segregated cash
-	-	-	-	-6,909	-15,656	4,811	11,613	16,408	73,005	5,004	-9,007
Receivables-net
-35,692	131,637	-95,976	156,129	-33,145	76,200	30,126	-31,157	-61,153	52,690	26,357	-99,970
Investments
-54,828	150,839	-28,922	-71,552	-64,159	159,107	61,502	30,096	-31,543	50,809	37,293	-517,288
Other assets
131,700	138,842	80,550	55,611	90,138	111,588	60,731	62,683	61,648	11,534	-25,579	16,406
Accrued compensation and benefits and other liabilities
-90,313	152,853	25,910	-85,379	20,839	179,232	35,229	71,006	-166,535	-27,470	263,703	-362,969
Deposits and other payables
-	-	-	-	225,008	74,801	-6,028	-26,576	-63,141	46,750	-249,777	-274,128
Net cash used in operating activities
677,953	699,038	1,029,115	632,601	887,296	736,017	526,697	481,908	397,802	168,798	244,775	505,895
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property
42,757	49,593	27,670	38,749	26,629	22,184	60,964	89,301	46,438	13,382	11,913	18,509
Disposals of property
509	3,384	750	1,096	677	2,085	6,411	4,368	1,161	432	583	743
Acquisition of businesses in 2009 (net of cash acquired of $6,641), and equity method investments
-	-	-	-	-	-	-	-	-	-	39,139	74,855
Distributions relating to equity method investments
-	-	-	-	-	-	-	-	-	51,437	-	-
Purchases of held-to-maturity securities
-	-	-	-	-	-	-	-	-	-	136,095	-
Proceeds from sales of held-to-maturity securities
-	-	-	-	-	-	-	-	-	132,209	-	-
Purchases of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	3,466	147,340
Proceeds from sales and maturities of available-for-sale securities
-	-	-	-	-	-	-	-	-	241,029	93,472	88,033
Net cash used in investing activities
-42,248	-46,209	-26,920	-37,653	-25,952	-20,099	-54,553	-84,933	-45,277	411,725	-96,558	-151,928
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from:
Issuance of senior debt, net of expenses
492,032	490,970	-	296,757	396,272	-	493,398	-	0	-	-	-
Customer deposits
211,997	112,061	421,885	7,197	-	-	-	-	-	-	-	-
Issuance of Class A common stock
-	-	-	-	-	-	-	-	-	-	-	437,500
Contributions from noncontrolling interests
1,765	1,706	-	93	275	1,532	832	1,741	17,505	4,624	1,474	2,527
Excess tax benefits from share-based incentive compensation
-	-	-	4,071	13,300	5,149	1,108	-	1,386	-	-	-
Other financing activities
-	-	-	24,484	-	-	-	-	-	33,312	52	359
Payments for:
Senior debt
255,746	255,543	-	101,441	509,098	-	578,464	-	131,829	10,375	635	478,925
Capital lease obligations
-	-	-	1,619	1,826	2,171	2,659	2,519	2,322	2,400	2,980	3,095
Distributions to noncontrolling interests
13,260	12,889	5,193	2,111	16,296	13,458	14,367	27,767	33,734	37,587	52,739	80,112
Payments under tax receivable agreement
23,701	33,140	789	10,086	1,276	-	-	-	-	-	-	-
Partial extinguishment of tax receivable agreement obligation
-	-	-	-	42,222	-	-	-	-	-	-	-
Repurchase of common membership interests from members of LAZ-MD Holdings
-	-	-	-	-	-	-	-	794	7,248	13,285	2,559
Purchase of Class A common stock
494,687	552,872	306,741	300,217	172,772	192,657	132,477	354,464	204,835	149,981	50,479	277,064
Class A common stock dividends
254,924	359,639	341,450	336,138	290,684	146,241	121,620	135,108	70,572	50,581	33,451	23,056
Settlement of share-based incentive compensation
99,959	110,361	67,899	56,078	120,116	85,442	132,533	44,883	93,750	57,576	13,479	4,516
Other financing activities
7,567	6,397	18,321	4,667	2,361	2,081	290	220	33,414	74	40	8,079
Net cash provided by (used in) financing activities
-444,050	-726,104	-318,508	-479,755	-746,804	-435,369	-487,072	-563,220	-552,359	-277,886	-165,562	-437,020
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
-27,981	-89,646	163,636	-64,602	-49,037	-55,451	6,220	12,644	-6,070	-10,271	24,967	-63,084
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
163,674	-162,921	847,323	50,591	65,503	225,098	-8,708	-153,601	-205,904	292,366	7,622	-146,137
Class A common stock issued/issuable in connection with business acquisitions
-	-	-	-	-	-	-	-	39,654	41,174	10,946	9,282
Interest
-	-	-	-	45,359	60,414	78,671	78,441	92,702	102,110	99,491	142,890
Income taxes, net of refunds
-	-	-	-	60,716	49,235	22,623	23,267	35,038	69,454	31,476	111,821