Business Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

Management has assessed the requirements of ASC 280, Segment Reporting, and determined that, because we utilize a consolidated approach to assess performance and allocate resources, we have only one operating segment. Enterprise-wide disclosures as of and for the years ended December 31, 2016, 2015 and 2014 were as follows:

Services

Net revenues derived from our investment management, research and related services were as follows:

	Years Ended December 31,
	2016		2015		2014
	(in thousands)
Institutions	$	422,060	$	435,205	$	434,081
Retail	1,261,907		1,362,541		1,397,135
Private Wealth Management	711,599		689,853		664,324
Bernstein Research Services	479,875		493,463		482,538
Other	162,461		42,986		29,714
Total revenues	3,037,902		3,024,048		3,007,792
Less: Interest expense	9,123		3,321		2,426
Net revenues	$	3,028,779	$	3,020,727	$	3,005,366

Our AllianceBernstein Global High Yield Portfolio, an open-end fund incorporated in Luxembourg (ACATEUH: LX), generated approximately 10%, 11% and 12% of our investment advisory and service fees and 10%, 12% and 13% of our net revenues during 2016, 2015 and 2014, respectively.

Geographic Information

Net revenues and long-lived assets, related to our U.S. and international operations, as of and for the years ended December 31, were as follows:

	2016		2015		2014
	(in thousands)
Net revenues:
United States	$	1,901,571	$	1,829,518	$	1,779,422
International	1,127,208		1,191,209		1,225,944
Total	$	3,028,779	$	3,020,727	$	3,005,366
Long-lived assets:
United States	$	3,388,221	$	3,410,491
International	36,539		39,456
Total	$	3,424,760	$	3,449,947

Major Customers

Company-sponsored mutual funds are distributed to individual investors through broker-dealers, insurance sales representatives, banks, registered investment advisers, financial planners and other financial intermediaries. Certain subsidiaries of AXA, including AXA Advisors, LLC, have entered into selected dealer agreements with AllianceBernstein Investments and have been responsible for 2%, 4% and 3% of our open-end mutual fund sales in 2016, 2015 and 2014, respectively. HSBC was responsible for approximately 12% of our open-end mutual fund sales in 2016. UBS AG was responsible for approximately 8% and 11% of our open-end mutual fund sales in 2015 and 2014, respectively. Neither AXA, HSBC or UBS AG is under any obligation to sell a specific amount of AB Fund shares and each also sells shares of mutual funds that it sponsors and that are sponsored by unaffiliated organizations.

AXA and the general and separate accounts of AXA Equitable (including investments by the separate accounts of AXA Equitable in the funding vehicle EQ Advisors Trust) accounted for approximately 5% of our total revenues for each of the years ended December 31, 2016, 2015 and 2014. No single institutional client other than AXA and its subsidiaries accounted for more than 1% of our total revenues for the years ended December 31, 2016, 2015 and 2014.