LAZARD LTD LAZ Income Statement

Lazard ltd (LAZ)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
REVENUE
Interest income
2,412	4,012	3,962	4,013	3,800	5,250	3,029	2,138	2,710	2,251	1,630	1,609	1,654	1,565	1,128	1,168	1,372	1,893	1,102	1,362	929	1,545	1,243	1,153	1,419	882	1,347	1,345	1,131	1,410	733	1,715	2,150	3,336	3,418	4,363	3,492	4,930	5,430	5,500	5,107	8,642	5,847
Total revenue
558,157	743,406	611,073	650,801	661,678	704,300	640,800	771,528	768,205	692,332	638,131	729,946	637,420	705,803	621,102	546,642	510,116	604,977	585,316	620,589	593,885	649,336	581,723	582,605	549,353	631,436	500,523	510,716	422,058	580,857	449,464	457,231	506,461	473,109	484,583	500,605	461,341	618,806	477,310	443,153	463,808	438,274	402,733
Interest expense
20,143	22,065	20,005	20,111	18,004	17,065	14,319	13,590	13,507	13,524	13,272	12,766	13,956	14,238	12,194	11,962	11,898	11,728	11,798	11,497	16,136	15,396	15,512	15,709	15,953	18,746	20,169	20,311	20,155	20,164	20,658	20,321	20,422	21,331	22,164	23,313	23,318	23,921	24,073	24,118	25,597	26,559	27,108
Net revenue
538,014	721,341	591,068	630,690	643,674	687,235	626,481	757,938	754,698	678,808	624,859	717,180	623,464	691,565	608,908	534,680	498,218	593,249	573,518	609,092	577,749	633,940	566,211	566,896	533,400	612,690	480,354	490,405	401,903	560,693	428,806	436,910	486,039	451,778	462,419	477,292	438,023	594,885	453,237	419,035	438,211	411,715	375,625
OPERATING EXPENSES
Compensation and benefits
319,755	427,308	391,363	372,470	372,254	349,542	343,987	416,159	405,047	374,673	361,787	414,612	361,801	381,267	353,756	308,310	297,210	334,960	319,565	336,719	328,502	307,505	338,612	345,924	321,565	367,855	301,809	331,131	277,739	445,602	283,818	283,392	338,317	338,934	273,532	286,480	269,999	348,242	282,528	263,021	300,377	250,914	239,279
Occupancy and equipment
32,198	34,045	29,856	30,953	28,295	32,781	28,848	29,240	30,238	37,374	29,156	30,828	27,484	28,162	26,973	27,163	27,007	28,978	26,278	27,272	27,339	25,471	29,400	28,367	28,312	26,491	27,393	39,738	29,304	32,854	25,680	28,347	26,282	30,668	24,345	22,977	22,708	23,324	22,414	21,320	21,270	23,690	19,990
Marketing and business development
20,186	30,947	27,318	28,784	27,984	32,889	21,868	28,228	25,659	25,628	19,798	24,027	19,752	22,710	16,927	23,877	19,688	25,783	18,244	18,324	19,190	28,775	19,127	20,894	19,233	23,568	17,077	25,377	18,192	25,888	19,096	22,322	28,267	29,577	19,844	20,879	18,111	25,699	17,503	18,252	15,603	14,070	15,788
Professional services
14,545	23,386	15,105	19,144	14,217	18,851	13,353	16,714	12,431	14,231	11,005	11,234	11,462	13,635	10,870	11,245	9,762	13,429	10,758	13,883	11,459	13,648	11,184	14,120	7,591	10,440	12,904	10,706	8,613	12,859	8,514	13,274	9,311	13,929	11,434	13,120	9,841	13,786	10,731	10,814	8,171	11,823	11,871
Fund administration and outsourced services
26,390	28,201	28,425	28,493	28,930	29,805	34,748	33,227	35,184	18,729	18,325	18,338	15,913	16,994	17,097	15,895	13,435	13,355	14,367	17,493	16,148	16,967	17,034	16,002	15,454	15,970	14,475	15,388	13,465	12,090	13,179	12,670	13,451	12,016	14,019	13,507	13,251	13,167	12,037	10,996	11,374	10,272	8,057
Amortization and other acquisition-related costs
446	9,876	1,022	5,042	3,470	-2,429	-5,851	-8,483	866	4,511	172	1,257	3,574	33,410	863	330	644	2,420	511	1,857	1,033	441	4,020	706	1,220	7,356	877	1,004	877	2,187	2,494	2,560	1,118	7,019	1,716	1,706	1,474	2,609	1,719	1,769	1,770	2,032	344
Benefit pursuant to tax receivable agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-420,792	961,948	6,535	9,243	-176	9,240	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	87,108	-	-
Other
9,039	10,321	11,530	5,294	16,806	38,454	14,453	10,386	26,193	13,430	9,031	12,351	9,257	12,476	9,251	10,328	9,164	8,297	10,920	9,938	69,987	9,643	10,273	10,709	9,358	62,649	2,484	5,989	9,136	10,660	7,825	8,537	11,077	11,876	9,374	8,839	9,626	13,892	7,934	8,816	9,367	8,157	7,194
Total operating expenses
453,917	602,364	538,695	529,005	524,011	530,918	487,800	557,998	568,870	320,272	480,647	544,679	473,267	534,709	459,916	421,444	399,841	453,900	2,774	1,410,468	503,086	434,347	452,499	467,916	426,220	539,536	399,236	449,467	380,306	565,890	382,080	392,377	448,216	466,665	374,681	388,090	364,577	463,272	373,770	351,984	472,692	338,550	318,679
OPERATING INCOME
84,097	118,977	52,373	101,685	119,663	156,317	138,681	199,940	185,828	358,536	144,212	172,501	150,197	156,856	148,992	113,236	98,377	139,349	570,744	-801,376	74,663	199,593	113,712	98,980	107,180	73,154	81,118	40,938	21,597	-5,197	46,726	44,533	37,823	-14,887	87,738	89,202	73,446	131,613	79,467	67,051	-34,481	73,165	56,946
Provision for income taxes
25,766	39,446	4,177	28,172	23,187	42,633	29,956	51,561	24,167	441,490	32,742	51,600	39,767	27,869	36,374	31,872	27,654	-15,992	170,954	-1,176,531	12,017	26,788	23,792	13,071	21,751	20,358	18,370	9,017	3,948	-1,091	13,053	10,371	8,767	-6,764	20,605	17,636	13,463	20,178	9,113	13,523	6,413	19,968	13,519
NET INCOME
58,331	79,531	48,196	73,513	96,476	113,684	108,725	148,379	161,661	-82,954	111,470	120,901	110,430	128,987	112,618	81,364	70,723	155,341	399,790	375,155	62,646	172,805	89,920	85,909	85,429	52,796	62,748	31,921	17,649	-4,106	33,673	34,162	29,056	-8,123	67,133	71,566	59,983	111,435	70,354	53,528	-40,894	53,197	43,427
LESS - NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS
-5,691	2,554	1,492	7,736	-566	288	1,651	1,416	1,969	604	2,260	523	2,877	1,005	82	1,007	3,900	-2,445	1,269	1,042	6,693	421	1,061	717	4,587	-421	2,466	568	2,289	1,259	372	3,341	3,504	-3,330	4,434	9,562	4,976	11,585	6,263	8,956	-7,360	15,779	15,240
NET INCOME ATTRIBUTABLE TO LAZARD LTD
64,022	76,977	46,704	65,777	97,042	113,396	107,074	146,963	159,692	-83,558	109,210	120,378	107,553	127,982	112,536	80,357	66,823	157,786	398,521	374,113	55,953	172,384	88,859	85,192	80,842	53,217	60,282	31,353	15,360	-5,365	33,301	30,821	25,552	-4,793	62,699	62,004	55,007	99,850	64,091	44,572	-33,534	37,418	28,187
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic
106,303	107,548	109,285	111,981	111,944	116,333	119,456	120,306	119,930	119,866	121,243	122,368	122,815	123,170	124,408	125,461	126,040	125,671	125,925	126,212	123,655	122,307	122,206	123,116	121,776	121,748	122,199	121,759	117,708	114,747	115,603	118,235	119,229	-118,868,908	118,315	119,107,386	115,334	113,322	111,059	103,527	89,736	80,756	74,935
Diluted
114,120	113,442	113,881	116,175	120,820	126,819	129,859	130,249	132,142	132,696	132,393	132,139	132,689	132,980	132,320	132,341	132,891	133,320	133,115	132,806	133,735	134,084	133,566	133,575	134,025	135,426	134,242	132,464	132,815	110,691	135,380	134,636	136,594	-139,072,863	136,857	139,347,933	138,590	186,104	138,094	139,944	89,736	131,468	127,984
NET INCOME PER SHARE OF COMMON STOCK:
Basic
0.59	0.71	0.42	0.57	0.87	0.98	0.90	1.22	1.33	-0.67	0.90	0.98	0.88	1.04	0.90	0.64	0.53	1.30	3.16	2.96	0.45	1.41	0.73	0.69	0.66	0.45	0.49	0.26	0.13	-0.04	0.29	0.26	0.21	-0.05	0.53	0.52	0.48	1.05	0.58	0.43	-0.38	0.47	0.38
Diluted
0.56	0.69	0.40	0.55	0.80	0.90	0.82	1.13	1.21	-0.63	0.82	0.91	0.81	0.96	0.85	0.61	0.50	1.17	2.99	2.82	0.42	1.28	0.67	0.64	0.61	0.40	0.45	0.24	0.12	-0.05	0.26	0.24	0.20	-0.04	0.49	0.48	0.43	0.84	0.51	0.39	-0.38	0.41	0.34
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK
-	-	-	-	-	-	-	-	-	-	0.41	0.41	1.58	-	0.38	0.38	1.55	0.35	0.35	0.35	1.30	0.30	0.30	0.30	0.30	-	0.25	0.25	-	0.60	0.20	0.20	0.16	0.16	0.16	0.16	0.12	0.12	0.12	0.12	0.12	0.12	0.10
Investment Banking and Other Advisory Fees [Member]
Revenue
297,669	401,339	305,303	328,974	335,804	414,254	309,690	421,444	408,726	334,815	305,530	410,275	334,916	403,458	343,154	286,609	265,143	330,039	330,408	314,277	301,372	358,238	290,604	279,907	272,675	312,182	232,006	260,241	168,104	307,079	218,262	240,306	273,541	258,386	248,358	243,096	220,327	345,383	245,294	245,282	269,209	252,538	236,387
Asset Management Fees [Member]
Revenue
269,218	304,698	287,140	296,581	292,438	281,622	312,790	335,891	338,096	327,028	301,719	293,879	272,924	269,208	254,551	241,397	233,731	252,360	253,752	268,754	261,955	274,994	276,940	275,877	253,031	287,171	241,478	234,921	231,137	237,764	214,867	201,642	204,561	201,122	213,276	230,906	214,692	252,045	202,662	180,899	177,103	149,102	120,301
Other [Member]
Revenue
-11,142	33,357	14,668	21,233	29,636	3,174	15,291	12,055	18,673	28,238	29,252	24,183	27,926	31,572	22,269	17,468	9,870	20,685	54	36,196	29,629	14,559	12,936	25,668	22,228	31,201	25,692	14,209	21,686	34,604	15,602	13,568	26,209	10,265	19,531	22,240	22,830	16,448	23,924	11,472	12,389	27,992	40,198
Technology and Information Services [Member]
Operating expenses
31,358	38,783	34,076	38,825	32,055	37,520	36,394	32,527	33,252	34,242	31,373	32,032	24,024	26,055	24,179	24,296	22,931	26,678	22,923	23,034	22,893	22,654	23,025	21,954	23,487	23,958	22,217	20,134	22,980	23,750	21,474	21,275	20,393	22,646	20,417	20,582	19,567	20,192	18,904	16,996	17,652	17,592	16,156