← Lazard, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $387.7m | $253.6m | $527.1m | $286.5m | $402.5m | $528.1m | $357.5m | ($75.5m) | $279.9m | $236.8m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $387.7m | $253.6m | $527.1m | $283.1m | $394.8m | $519.4m | $351.8m | ($79.9m) | $273.0m | $230.9m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $393.7m | $259.8m | $532.4m | $297.7m | $402.7m | $542.5m | $392.5m | ($57.3m) | $286.7m | $251.0m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $6.0m | $6.3m | $5.3m | $11.2m | $231k | $14.5m | $35.0m | $18.2m | $6.8m | $14.2m | |
| Depreciation, Depletion and Amortization | $33.3m | $31.5m | $34.1m | $35.6m | $35.1m | $38.3m | $42.3m | $42.9m | $36.3m | $34.2m | |
| Amortization of Intangible Assets | $2.5m | $2.9m | $3.0m | $2.2m | $1.8m | $60k | $60k | $60k | — | — | |
| Deferred Income Tax Expense (Benefit) | $63.7m | $501.2m | $45.4m | $24.9m | $47.1m | $90.6m | $42.7m | ($81.1m) | $11.1m | $21.6m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | $100.0m | $72.6m | $68.0m | $61.9m | $54.5m | $64.3m | $115.2m | |
| Share-based Payment Arrangement, Expense | $261.5m | $273.0m | $267.6m | $253.3m | $218.4m | $234.0m | $240.6m | $250.6m | $277.7m | $359.7m | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | — | — | $114.3m | $0 | |
| Gain (Loss) on Extinguishment of Debt | ($3.1m) | — | ($6.5m) | ($6.5m) | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $123.8m | $565.6m | $148.3m | $95.0m | $99.4m | $181.3m | $124.4m | ($22.6m) | $99.8m | $76.6m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $87.8m | $87.3m | |
| Operating Lease, Expense | — | — | — | $80.6m | $85.9m | $86.2m | $78.5m | — | — | — | |
| Operating Lease, Lease Income | — | — | — | — | — | — | — | $6.4m | — | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Other Operating Assets | $55.6m | $80.5m | $138.8m | $131.7m | ($1.4m) | $33.4m | $55.4m | $47.7m | $65.3m | $4.7m | |
| Distributions paid to shareholders | $336.1m | $341.4m | $359.6m | $254.9m | $196.6m | $195.9m | $181.9m | $173.1m | $179.0m | $186.6m | |
| Asset Retirement Obligation, Accretion Expense | — | — | — | — | — | — | — | — | — | $405k | |
| Goodwill | $373.1m | $385.3m | $371.6m | $371.8m | $383.9m | $379.4m | $377.2m | $394.9m | $393.6m | $395.3m | |
| Derivative, Gain (Loss) on Derivative, Net | — | ($48.4m) | $30.5m | ($39.0m) | ($58.2m) | ($37.5m) | $82.1m | ($61.0m) | ($17.4m) | ($90.3m) | |
| Net Cash Provided by (Used in) Operating Activities | $601.3m | $1.0b | $699.0m | $678.0m | $575.9m | $866.1m | $834.0m | $164.7m | $742.8m | $519.3m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $38.7m | $27.7m | $49.6m | $42.8m | $64.3m | $39.7m | $49.5m | $28.3m | $45.5m | $31.9m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | — | — | $10.5m | $0 | $0 | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | $7.5m | — | — | $50.0m | |
| Net Cash Provided by (Used in) Investing Activities | ($37.7m) | ($26.9m) | ($46.2m) | ($42.2m) | ($62.9m) | ($39.1m) | ($56.4m) | ($38.3m) | $134.1m | ($82.0m) | |
| Cash flows from financing activities: | |||||||||||
| Payments for Repurchase of Common Stock | $300.2m | $306.7m | $552.9m | $494.7m | $95.2m | $406.1m | $691.7m | $102.1m | $59.5m | $91.0m | |
| Payments of Ordinary Dividends, Common Stock | $336.1m | $341.4m | $359.6m | $254.9m | $196.6m | $195.9m | $181.9m | $173.1m | $179.0m | $186.6m | |
| Proceeds from Noncontrolling Interests | $93k | — | $1.7m | $1.8m | $423k | $334k | $514k | $2.1m | $2.4m | $3.7m | |
| Net Cash Provided by (Used in) Financing Activities | ($487.0m) | ($740.4m) | ($726.1m) | ($444.1m) | ($547.4m) | $195.8m | ($1.4b) | ($1.6b) | ($439.7m) | ($463.6m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($64.6m) | $163.6m | ($162.9m) | $163.7m | $113.3m | $861.2m | ($790.6m) | ($1.4b) | $384.4m | $61.2m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $50.8m | $70.4m | $78.3m | $78.0m | $77.4m | $73.7m | $84.4m | $80.3m | |
| Income Taxes Paid, Net | $72.4m | $48.7m | $101.7m | $89.4m | $43.8m | $74.1m | $144.3m | $44.2m | $34.0m | $118.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.