Lazard ltd (LAZ)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME

259,571

297,716

331,869

392,398

467,264

532,449

335,811

338,556

311,078

259,847

471,788

472,936

433,399

393,692

420,046

707,218

1,001,009

992,932

1,010,396

700,526

411,280

434,063

314,054

286,882

232,894

165,114

108,212

79,137

81,378

92,785

88,768

122,228

159,632

190,559

310,117

313,338

295,300

194,423

0

0

0

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property

36,372

35,572

33,657

33,674

34,055

34,103

33,592

32,803

32,070

31,498

31,887

32,005

32,537

33,264

33,120

33,515

33,298

32,785

32,383

32,708

33,481

34,464

35,617

35,813

35,550

34,750

33,848

32,648

31,939

30,855

28,876

27,560

25,639

24,580

24,757

24,410

23,407

22,712

0

0

0

Noncash lease expense

64,161

60,053

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred expenses and share-based incentive compensation

361,965

365,821

394,165

372,416

375,495

371,434

368,599

375,901

367,507

359,381

350,273

351,735

317,451

341,825

351,057

348,292

331,233

320,472

314,063

309,187

319,186

295,830

298,575

301,171

304,985

310,036

347,296

354,573

354,888

360,751

324,885

308,656

294,110

300,286

286,605

273,159

262,480

316,232

0

0

0

Amortization and other acquisition-related costs

16,386

19,410

7,105

232

-13,293

-15,897

-8,957

-2,934

6,806

9,514

38,413

39,104

38,177

35,247

4,257

3,905

5,432

5,821

3,842

7,351

6,200

6,387

13,302

10,159

10,457

10,114

4,945

6,562

8,118

8,359

13,191

12,413

11,559

11,915

7,505

7,508

7,571

7,867

0

0

0

Deferred tax provision

31,932

24,872

11,686

32,010

43,450

45,386

477,751

482,026

490,041

501,163

65,175

78,437

69,594

63,660

5,058

119,693

-1,080,087

-1,100,785

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Benefit pursuant to tax receivable agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

547,691

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-6,505

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-60,219

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits with banks and short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

258,139

574,260

222,956

207,373

94,468

-24,374

-14,255

-8,544

14,386

33,587

-1,435

58,570

6,287

-8,479

-7,037

-806

-14,089

-116,424

31,306

63,639

-83,624

-44,221

-116,595

-221,072

0

0

0

Cash deposited with clearing organizations and other segregated cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

389

-17,044

-2,839

-6,909

-38,699

-1,887

-18,916

-15,656

14,150

-3,762

-285

4,811

31,518

10,272

17,549

11,613

31,368

20,146

11,766

16,408

39,607

71,660

74,632

73,005

0

0

0

Receivables-net

-109,642

-35,692

42,610

-3,273

50,318

131,637

98,684

60,681

114,375

-95,976

37

154,022

29,329

156,129

44,839

5,758

-85,709

-33,145

28,827

7,694

131,372

76,200

-12,408

4,737

50,608

30,126

47,474

41,132

-53,944

-31,157

-112,949

-26,093

-2,574

-61,153

-6,738

46,045

-37,285

52,690

0

0

0

Investments

-118,313

-54,828

-77,262

63,613

265,123

150,839

183,547

81,530

-36,067

-28,922

-19,781

-50,664

-52,362

-71,552

-109,659

-62,827

-31,651

-64,159

46,089

46,034

101,520

159,107

85,802

84,399

5,366

61,502

29,481

9,281

27,829

30,096

94,719

13,610

-20,867

-31,543

-59,220

46,661

32,849

50,809

0

0

0

Other assets

219,596

131,700

122,812

115,268

85,432

138,842

154,089

123,686

145,159

80,550

64,886

91,203

82,045

55,611

46,014

45,103

44,817

90,138

103,478

114,719

100,983

111,588

92,845

63,835

85,689

60,731

90,132

94,413

87,720

62,683

51,830

133,541

102,449

61,648

40,627

-4,292

23,912

11,534

0

0

0

Accrued compensation and benefits and other liabilities

-97,277

-90,313

-4,613

28,452

54,746

152,853

40,694

-36,588

109,593

25,910

71,158

154,954

27,433

-85,379

-96,747

-78,131

-110,871

20,839

11,235

52,331

70,680

179,232

159,560

54,684

67,181

35,229

60,672

92,411

-249,511

71,006

8,630

72,430

309,978

-166,535

-66,925

-93,230

-26,984

-27,470

0

0

0

Deposits and other payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

189,958

350,937

121,979

225,008

154,350

30,466

103,421

74,801

5,480

-756

79,444

-6,028

15,943

33,970

-57,970

-26,576

-69,315

109,906

5,958

-63,141

-59,178

-62,785

-38,506

46,750

0

0

0

Net cash used in operating activities

683,228

677,953

725,987

716,827

576,496

699,038

615,147

721,321

891,082

1,029,115

1,038,904

986,900

831,816

632,601

667,027

694,265

752,437

887,296

839,989

817,677

717,179

736,017

774,252

642,781

653,588

526,697

409,949

460,977

491,030

481,908

356,008

417,424

385,281

397,802

403,780

275,075

329,959

168,798

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property

48,897

42,757

50,919

35,614

39,306

49,593

51,550

50,305

39,981

27,670

32,142

37,039

37,142

38,749

30,220

24,309

28,028

26,629

26,502

29,792

23,086

22,184

20,781

25,447

34,919

60,964

71,923

81,707

91,651

89,301

100,883

89,703

71,332

46,438

20,586

13,593

12,892

13,382

0

0

0

Disposals of property

508

509

2,117

2,142

2,223

3,384

1,832

1,884

1,846

750

513

1,130

1,127

1,096

1,072

500

737

677

1,533

2,071

1,879

2,085

1,591

1,022

4,030

6,411

8,053

8,054

5,390

4,368

2,966

3,015

2,726

1,161

484

377

337

432

0

0

0

Distributions relating to equity method investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51,437

0

0

0

Proceeds from sales and maturities of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

241,029

0

0

0

Net cash used in investing activities

-48,389

-42,248

-48,802

-33,472

-37,083

-46,209

-49,718

-48,421

-38,135

-26,920

-31,629

-35,909

-36,015

-37,653

-29,148

-23,809

-27,291

-25,952

-24,969

-27,721

-21,207

-20,099

-19,190

-24,425

-30,889

-54,553

-63,870

-73,653

-86,261

-84,933

-97,917

-86,688

-68,606

-45,277

281,557

307,236

332,780

411,725

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from:
Issuance of senior debt, net of expenses

-

492,032

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

396,272

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Customer deposits

96,778

211,997

377,495

356,597

197,591

112,061

352,339

295,132

376,383

421,885

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

794

1,765

0

0

0

-

-

-

-

-

-

-

-

93

100

311

311

275

698

1,152

1,205

1,532

0

0

0

-

-

-

-

1,741

15,228

17,309

17,325

17,505

5,440

3,604

3,508

4,624

0

0

0

Excess tax benefits from share-based incentive compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

4,071

6,127

6,124

6,504

13,300

13,157

12,740

12,740

5,149

405

822

822

1,108

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Payments for:
Senior debt

-

255,746

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

509,098

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital lease obligations

-

-

-

-

-

-

-

-

-

-

7,714

8,104

1,598

1,619

1,625

1,642

1,704

1,826

1,868

2,022

2,127

2,171

2,305

2,285

2,238

2,659

2,733

2,725

2,783

2,519

2,600

2,261

2,387

2,322

2,374

2,701

2,500

2,400

0

0

0

Distributions to noncontrolling interests

14,056

13,260

11,570

15,640

12,053

12,889

12,366

8,510

5,643

5,193

4,204

3,146

2,688

2,111

1,895

5,064

10,879

16,296

19,643

19,491

14,987

13,458

13,321

12,669

16,062

14,367

20,596

21,910

6,423

27,767

29,702

39,162

54,809

33,734

38,703

36,130

35,399

37,587

0

0

0

Payments under tax receivable agreement

25,584

23,701

24,930

24,930

24,969

33,140

31,897

31,910

31,898

789

789

776

736

10,086

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common membership interests from members of LAZ-MD Holdings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

794

0

0

0

-

-

-

-

Purchase of Class A common stock

397,817

494,687

676,562

680,789

599,020

552,872

360,794

345,644

346,642

306,741

323,890

290,380

323,125

300,217

242,166

249,768

172,949

172,772

159,471

168,073

168,685

192,657

247,200

224,347

209,244

132,477

209,719

252,498

314,092

354,464

268,897

231,011

242,686

204,835

202,282

253,485

181,690

149,981

0

0

0

Class A common stock dividends

200,281

254,924

257,348

259,735

260,657

359,639

357,007

354,251

351,570

341,450

339,105

336,480

334,020

336,138

333,251

330,134

326,676

290,684

283,408

275,895

268,714

146,241

0

0

0

-

-

-

-

135,108

85,382

80,728

75,621

70,572

65,276

60,414

53,905

50,581

0

0

0

Settlement of share-based incentive compensation

76,030

99,959

97,832

97,232

99,975

110,361

110,000

111,032

107,464

67,899

67,900

67,999

67,101

56,078

70,671

71,646

68,686

120,116

106,666

105,550

105,306

85,442

0

0

0

-

-

135,244

136,912

44,883

42,099

32,536

35,659

93,750

94,966

103,675

108,329

57,576

0

0

0

Other financing activities

6,379

7,567

6,975

6,396

5,679

6,397

13,814

14,049

14,149

18,321

11,660

11,310

11,000

4,667

3,443

3,064

2,820

2,361

2,325

2,279

2,904

2,081

0

0

0

-

-

-

-

220

-71

33,309

33,367

33,414

33,407

86

76

74

0

0

0

Net cash provided by (used in) financing activities

-847,800

-444,050

-459,090

-254,186

-45,744

-726,104

-290,230

-562,428

-681,269

-318,508

-407,549

-300,524

-366,077

-479,755

-626,392

-700,463

-630,483

-746,804

-715,850

-692,244

-661,604

-435,369

-609,288

-563,753

-566,331

-487,072

-489,684

-531,594

-573,098

-563,220

-415,041

-536,785

-559,077

-552,359

-536,845

-428,635

-362,122

-277,886

0

0

0

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

-60,092

-27,981

-115,778

-51,585

-168,792

-89,646

-30,810

25,820

194,472

163,636

63,441

24,896

-58,219

-64,602

-17,584

-24,711

325

-49,037

-59,770

-81,031

-94,621

-55,451

-13,557

28,403

24,110

6,220

-968

-5,483

-11,246

12,644

-4

-26,725

-7,846

-6,070

-6,029

32,904

11,210

-10,271

0

0

0

NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

-273,053

163,674

102,317

377,584

324,877

-162,921

244,389

136,292

366,150

847,323

663,167

675,363

371,505

50,591

-6,097

-54,718

94,988

65,503

39,400

16,681

-60,253

225,098

132,217

83,006

80,478

-8,708

-144,573

-149,753

-179,575

-153,601

-156,954

-232,774

-250,248

-205,904

142,463

186,580

311,827

292,366

0

0

0