XML 37 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Revenue subject to contracts with customers $ 3,315,390 $ 3,156,149 $ 2,892,144
Dividend and interest income 98,226 71,162 46,939
Investment gains (losses) 2,653 92,102 93,353
Other revenues 98,676 97,135 99,859
Total revenues 3,419,760 3,323,686 3,037,902
Less: Interest expense 52,399 25,165 9,123
Net revenues 3,367,361 3,298,521 3,028,779
Expenses:      
Employee compensation and benefits 1,378,811 1,313,469 1,229,721
Promotion and servicing:      
Distribution-related payments 427,186 411,467 363,603
Amortization of deferred sales commissions 21,343 31,886 41,066
Trade execution, marketing, T&E and other 222,630 213,275 216,542
General and administrative:      
General and administrative 448,996 481,488 426,147
Real estate charges 7,160 36,669 17,704
Contingent payment arrangements (2,219) 267 (20,245)
Interest on borrowings 10,359 8,194 4,765
Amortization of intangible assets 27,781 27,896 26,311
Total expenses 2,542,047 2,524,611 2,305,614
Operating income 825,314 773,910 723,165
Income tax 45,816 53,110 28,319
Net income 779,498 720,800 694,846
Net income of consolidated entities attributable to non-controlling interests 21,910 58,397 21,488
Net income attributable to AB Unitholders $ 757,588 $ 662,403 $ 673,358
Net income per AB Unit:      
Basic (in dollars per share) $ 2.79 $ 2.46 $ 2.48
Diluted (in dollars per share) $ 2.78 $ 2.45 $ 2.47
Investment advisory and services fees      
Revenues:      
Revenue subject to contracts with customers $ 2,362,211 $ 2,201,305 $ 1,933,471
Bernstein research services      
Revenues:      
Revenue subject to contracts with customers 439,432 449,919 479,875
Distribution revenues      
Revenues:      
Revenue subject to contracts with customers $ 418,562 $ 412,063 $ 384,405