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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Investment advisory and services fees $ 543,107 $ 489,393 $ 1,572,560 $ 1,417,856
Bernstein research services 108,385 110,885 330,596 352,403
Distribution revenues 106,042 97,625 302,745 287,638
Dividend and interest income 17,619 9,908 51,023 30,128
Investment gains (losses) 18,808 17,606 68,122 85,469
Other revenues 24,902 24,240 71,532 75,044
Total revenues 818,863 749,657 2,396,578 2,248,538
Less: Interest expense 6,713 2,066 17,198 6,015
Net revenues 812,150 747,591 2,379,380 2,242,523
Expenses:        
Employee compensation and benefits 329,777 316,737 979,387 927,997
Promotion and servicing:        
Distribution-related payments 108,284 95,844 307,407 276,188
Amortization of deferred sales commissions 7,629 9,787 25,015 31,606
Trade execution, marketing, T&E and other 48,088 47,205 149,537 156,763
General and administrative:        
General and administrative 128,712 106,504 360,395 322,184
Real estate charges (credits) 18,655 (140) 39,400 24,645
Contingent payment arrangements (140) (21,129) 215 (20,423)
Interest on borrowings 2,105 1,009 6,227 3,293
Amortization of intangible assets 7,013 6,465 20,921 19,344
Total expenses 650,123 562,282 1,888,504 1,741,597
Operating income 162,027 185,309 490,876 500,926
Income taxes 4,547 11,578 24,869 37,315
Net income 157,480 173,731 466,007 463,611
Net income of consolidated entities attributable to non-controlling interests 16,526 15,696 50,013 14,791
Net income attributable to AB Unitholders $ 140,954 $ 158,035 $ 415,994 $ 448,820
Net income per AB Unit:        
Basic (in dollars per unit) $ 0.53 $ 0.58 $ 1.54 $ 1.65
Diluted (in dollars per unit) $ 0.52 $ 0.58 $ 1.54 $ 1.64