XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Revenue subject to contracts with customers $ 769,186 $ 821,803
Dividend and interest income 27,346 28,215
Investment gains (losses) 15,735 26,082
Other revenues 22,206 26,510
Total revenues 812,625 877,327
Less: Interest expense 17,163 9,540
Net revenues 795,462 867,787
Expenses:    
Employee compensation and benefits 339,309 343,825
Promotion and servicing:    
Distribution-related payments 105,993 110,154
Amortization of deferred sales commissions 3,502 6,598
Trade execution, marketing, T&E and other 49,648 54,043
General and administrative:    
General and administrative 117,848 121,234
Real estate (credit) charges 0 (264)
Contingent payment arrangements 54 53
Interest on borrowings 3,983 2,612
Amortization of intangible assets 6,974 6,861
Total expenses 627,311 645,116
Operating income 168,151 222,671
Income taxes 8,921 15,825
Net income 159,230 206,846
Net income of consolidated entities attributable to non-controlling interests 10,116 22,650
Net income attributable to AB Unitholders $ 149,114 $ 184,196
Net income per AB Unit:    
Basic (in dollars per unit) $ 0.55 $ 0.68
Diluted (in dollars per unit) $ 0.55 $ 0.68
Investment advisory and services fees    
Revenues:    
Revenue subject to contracts with customers $ 556,594 $ 574,116
Bernstein research services    
Revenues:    
Revenue subject to contracts with customers 90,235 114,400
Distribution revenues    
Revenues:    
Revenue subject to contracts with customers $ 100,509 $ 108,004