Lazard Ltd. (LAZ) financial statements (2021 and earlier)
Company profile
| Business Address |
CLARENDON HOUSE HAMILTON, HM II |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| SIC | 6282 - Investment Advice (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,390 | 1,232 | 1,247 | 1,484 | 1,159 | 1,132 | 1,077 | ||
| Cash and cash equivalents | 1,390 | 1,232 | 1,247 | 1,484 | 1,159 | 1,132 | 1,067 | ||
| Short-term investments | 10 | ||||||||
| Total current assets: | 1,390 | 1,232 | 1,247 | 1,484 | 1,159 | 1,132 | 1,077 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 514 | 552 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 258 | 220 | 213 | 205 | 209 | 207 | 223 | ||
| Long-term investments and receivables | 0 | 8 | |||||||
| Long-term investments | 0 | 8 | |||||||
| Intangible assets, net (including goodwill), including: | 384 | 374 | 375 | 391 | 382 | 327 | 347 | ||
| Goodwill | 384 | 372 | 372 | 385 | 373 | 321 | 335 | ||
| Intangible assets, net (excluding goodwill) | 0 | 2 | 4 | 6 | 9 | 6 | 24 | ||
| Other undisclosed intangible assets, net (including goodwill) | (12) | ||||||||
| Deferred income tax assets | 538 | 587 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Total noncurrent assets: | 1,694 | 1,732 | 588 | 597 | 591 | 534 | 578 | ||
| Other undisclosed assets | 2,888 | 2,676 | 3,162 | 2,848 | 2,806 | 2,821 | 1,677 | ||
| TOTAL ASSETS: | 5,972 | 5,640 | 4,997 | 4,929 | 4,557 | 4,487 | 3,332 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 140 | 138 | 130 | 124 | 99 | 109 | |||
| Taxes payable | 140 | 138 | 130 | 124 | 99 | 109 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 83 | |||||
| Total current liabilities: | 140 | 138 | 130 | 124 | 99 | 109 | 83 | ||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 1 | 4 | 85 | 84 | 84 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 85 | 84 | 84 | |||
| Deferred income tax liabilities | 1 | 4 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Total noncurrent liabilities: | 1 | 4 | 85 | 84 | 84 | ||||
| Other undisclosed liabilities | 4,832 | 4,816 | 3,897 | 3,461 | 3,079 | 2,926 | 2,479 | ||
| Total liabilities: | 4,972 | 4,958 | 4,027 | 3,670 | 3,263 | 3,119 | 2,562 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 912 | 610 | 917 | 1,200 | 1,236 | 1,313 | 707 | ||
| Common stock | 1 | 1 | 1 | 1 | 1 | ||||
| Common stock held by subsidiary | (282) | (332) | (757) | (438) | (274) | ||||
| Additional paid in capital | 135 | 41 | 751 | 788 | 688 | 600 | 703 | ||
| Accumulated other comprehensive loss | (238) | (294) | (274) | (233) | (314) | (234) | (201) | ||
| Retained earnings | 1,295 | 1,194 | 1,196 | 1,080 | 1,134 | 1,124 | 465 | ||
| Other undisclosed stockholders' equity attributable to parent | (176) | (260) | |||||||
| Stockholders' equity attributable to noncontrolling interest | 88 | 72 | 53 | 59 | 58 | 54 | 63 | ||
| Total stockholders' equity: | 999 | 682 | 970 | 1,259 | 1,294 | 1,367 | 770 | ||
| TOTAL LIABILITIES AND EQUITY: | 5,972 | 5,640 | 4,997 | 4,929 | 4,557 | 4,487 | 3,332 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,647 | 2,667 | 2,885 | 2,698 | 2,384 | 2,405 | 2,363 | |
| Financial services revenue | ✕ | ✕ | ✕ | 2,581 | 999 | 1,037 | 1,081 | |
| Cost of revenue | (1,694) | (2,007) | (1,976) | (140) | (714) | |||
| Gross profit: | 953 | 660 | 909 | 2,698 | 2,244 | 1,691 | 2,363 | |
| Operating expenses | (370) | (187) | (170) | (1,897) | (1,676) | (1,656) | (2,534) | |
| Other operating expense, net (Other Expenses) | (39) | (44) | (89) | (44) | (41) | (99) | (40) | |
| Other undisclosed operating income (loss) | (42) | (36) | 31 | 68 | (9) | 48 | 730 | |
| Operating income (loss): | 502 | 393 | 681 | 825 | 517 | (17) | 519 | |
| Nonoperating income (Investment Income, Nonoperating) | 2 | |||||||
| Interest and debt expense | (81) | (7) | (7) | (54) | (3) | (60) | (63) | |
| Income (loss) from continuing operations before income taxes: | 422 | 386 | 674 | 772 | 514 | (77) | 459 | |
| Income tax expense (benefit) | (99) | (95) | (148) | (566) | (124) | 1,010 | (85) | |
| Income before gain (loss) on sale of properties: | 322 | 291 | 526 | 206 | 391 | 933 | 373 | |
| Other undisclosed net income | 81 | 7 | 7 | 54 | 3 | 60 | 61 | |
| Net income: | 403 | 298 | 532 | 260 | 394 | 993 | 434 | |
| Net loss attributable to noncontrolling interest | (0) | (11) | (5) | (6) | (6) | (7) | (7) | |
| Net income attributable to parent: | 402 | 287 | 527 | 254 | 388 | 986 | 427 | |
| Other undisclosed net loss available to common stockholders, basic | (8) | (3) | ||||||
| Net income available to common stockholders, basic: | 395 | 283 | 527 | 254 | 388 | 986 | 427 | |
| Other undisclosed net income available to common stockholders, diluted | 6 | 0 | 1 | |||||
| Net income available to common stockholders, diluted: | 401 | 283 | 527 | 254 | 388 | 986 | 428 | |
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 403 | 298 | 532 | 260 | 394 | 993 | 434 | |
| Other comprehensive income (loss) | 55 | (20) | (41) | 82 | (80) | (34) | (67) | |
| Comprehensive income: | 458 | 278 | 491 | 342 | 314 | 959 | 367 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (0) | (11) | (5) | (6) | (6) | (7) | (7) | |
| Comprehensive income, net of tax, attributable to parent: | 458 | 267 | 486 | 335 | 308 | 953 | 360 | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.