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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 159,230 $ 206,846
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred sales commissions 3,502 6,598
Non-cash long-term incentive compensation expense 19,070 12,484
Depreciation and other amortization 41,892 17,737
Unrealized (gains) losses on investments (10,543) 3,239
Other, net 6,246 (2,885)
Changes in assets and liabilities:    
(Increase) in segregated cash and securities (92,624) (208,179)
Decrease (increase) in receivables 97,411 (145,051)
Decrease (increase) in investments 449,556 35,028
(Increase) decrease in deferred sales commissions (3,175) 348
(Increase) in right-of-use assets (577,842)  
(Increase) decrease in other assets 38,685 (62,304)
(Decrease) increase in payables (222,472) 425,449
(Decrease) increase in accounts payable and accrued expenses 541,928  
(Decrease) increase in accounts payable and accrued expenses (29,114) 3,900
Increase in accrued compensation and benefits 40,644 66,012
Net cash provided by operating activities 432,469 164,713
Cash flows from investing activities:    
Purchases of furniture, equipment and leasehold improvements (5,567) (5,440)
Net cash used in investing activities (5,567) (5,440)
Cash flows from financing activities:    
Issuance (repayment) of commercial paper, net 15,459 (3,069)
Repayment of bank loans (25,000) (75,000)
(Decrease) increase in overdrafts payable (65,352) 7,410
Distributions to General Partner and Unitholders (191,485) (247,773)
Capital contributions to affiliates (932) (1,677)
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units 7,382 4,009
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (58,452) (2,128)
Other (228) 16
Net cash (used in) provided by financing activities (318,644) 54,573
Effect of exchange rate changes on cash and cash equivalents 640 8,261
Net increase in cash and cash equivalents 108,898 222,107
Cash and cash equivalents as of beginning of the period 653,324 998,448
Cash and cash equivalents as of end of the period 762,222 1,220,555
Company-sponsored investment funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized (gains) losses on investments (21,930) (23,393)
Changes in assets and liabilities:    
Decrease (increase) in investments (11,683) (686,794)
(Increase) decrease in other assets 3,688 515,678
Cash flows from financing activities:    
(Redemptions) subscriptions of investments in consolidated company-sponsored investment funds, net $ (36) $ 372,785