Lazard Investor Presentation Deck
INVESTOR PRESENTATION
U.S. GAAP Net Income to Adjusted Reconciliation
($ in millions, except per:
2018
share values)
Net income (loss) attributable to Lazard Ltd - U.S. GAAP Basis
Adjustments:
18
Expenses associated with the business realignment ¹8
11
Tax expense (benefit) allocated to adjustments
Charges pertaining to Senior Debt refinancing
MBA Lazard acquisition
12
Weighted average shares outstanding:
U.S. GAAP, diluted
As adjusted, diluted
Valuation Allowance for changed tax laws
Acquisition-related (benefits)/costs 9
Reduction of deferred tax assets (net of TRA reduction)
Provision (benefit) pursuant to tax receivable agreement obligation ("TRA")
Expenses associated with ERP system implementation
Expenses related to office space reorganization
Expenses associated with Lazard Foundation
17
Private Equity investment adjustment
Losses associated with restructuring and closing of certain offices
Expenses associated with restructuring and closing of certain offices 20
Losses associated with cost-saving initiatives
24
Expenses associated with cost-saving initiatives
Expenses associated with senior management transition
Asset impairment charges
23
Net Income, as adjusted
Diluted Net Income per share:
U.S. GAAP Basis
As adjusted
LAZARD
13
8
16
21
10
14
22
19
10
See endnotes for information regarding non-GAAP adjustments.
2016
$388
(16)
4
(13)
12
34
2017
$254
$2.92
$3.09
(13)
7
217
25
11
132,634 132,480
132,634 132,480
$527
$1.91
$3.78
(10)
7
(19)
(6)
$410 $501 $539
29
2
10
2019
$4.06
$4.16
$287
68
(27)
7
17
(1)
17
5
12
2020
$402
$2.44
$3.28
(4)
(0)
13
$385 $410
2021
$3.54
$3.60
$528
1
2
5
24
16
$576
$4.63
$5.04
Unaudited
2022 Q3' 23
$358
(9)
(1)
4
33
APPENDIX
$384
129,768 116,080 113,483 113,675 100,998 94,309
129,768 117,348 113,904 114,248 103,193 98,282
$3.51
$3.73
$7
(13)
5
11
$10
$0.06
$0.10
9M' 23
41
($139)
(23)
(40)
5
179
11
19
$10
88,582
96,883
($1.60)
$0.10View entire presentation