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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Investment advisory and services fees $ 531,163 $ 477,050 $ 1,029,453 $ 928,463
Bernstein research services 109,470 115,053 222,211 241,518
Distribution revenues 100,149 97,321 196,703 190,013
Dividend and interest income 19,348 10,147 33,404 20,220
Investment gains (losses) 24,113 2,276 49,314 67,863
Other revenues 24,265 25,833 46,630 50,804
Total revenues 808,508 727,680 1,577,715 1,498,881
Less: Interest expense 6,195 1,874 10,485 3,949
Net revenues 802,313 725,806 1,567,230 1,494,932
Expenses:        
Employee compensation and benefits 327,862 309,249 649,610 611,260
Promotion and servicing:        
Distribution-related payments 102,756 93,217 199,123 180,344
Amortization of deferred sales commissions 8,307 10,577 17,386 21,819
Trade execution, marketing, T&E and other 53,235 55,357 101,449 109,558
General and administrative:        
General and administrative 117,462 109,757 231,683 215,680
Real estate charges (credits) 20,747 (2,801) 20,745 24,785
Contingent payment arrangements 178 353 355 706
Interest on borrowings 2,254 1,052 4,122 2,284
Amortization of intangible assets 6,975 6,470 13,908 12,879
Total expenses 639,776 583,231 1,238,381 1,179,315
Operating income 162,537 142,575 328,849 315,617
Income taxes 10,265 13,231 20,322 25,737
Net income 152,272 129,344 308,527 289,880
Net income (loss) of consolidated entities attributable to non-controlling interests 17,169 4,843 33,487 (905)
Net income attributable to AB Unitholders $ 135,103 $ 124,501 $ 275,040 $ 290,785
Net income per AB Unit:        
Basic (in dollars per unit) $ 0.50 $ 0.46 $ 1.01 $ 1.06
Diluted (in dollars per unit) $ 0.50 $ 0.46 $ 1.01 $ 1.06