Net Income per Unit

Basic net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the total of the diluted weighted average number of units outstanding for each period.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(in thousands, except per unit amounts)

Net income attributable to AB Unitholders	$	140,954	$	158,035	$	415,994	$	448,820

Weighted average units outstanding – basic	265,585		268,133		267,448		269,896
Dilutive effect of compensatory options to buy AB Holding Units	400		590		455		554
Weighted average units outstanding – diluted	265,985		268,723		267,903		270,450
Basic net income per AB Unit	$	0.53	$	0.58	$	1.54	$	1.65
Diluted net income per AB Unit	$	0.52	$	0.58	$	1.54	$	1.64

For the three and nine months ended September 30, 2017, we excluded 2,427,527 options from the diluted net income computation due to their anti-dilutive effect. For the three and nine months ended September 30, 2016, we excluded 2,873,106 options from the diluted net income computation due to their anti-dilutive effect.