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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Revenue subject to contracts with customers $ 834,761 $ 834,203 $ 1,603,947 $ 1,656,006
Dividend and interest income 27,654 21,194 55,000 49,409
Investment gains (losses) 10,949 213 26,684 26,295
Other revenues 24,796 26,026 47,002 52,536
Total revenues 874,101 856,870 1,686,726 1,734,197
Less: Interest expense 16,302 12,132 33,465 21,672
Net revenues 857,799 844,738 1,653,261 1,712,525
Expenses:        
Employee compensation and benefits 363,702 358,248 703,011 702,073
Promotion and servicing:        
Amortization of deferred sales commissions 3,241 6,113 6,743 12,711
Trade execution, marketing, T&E and other 57,550 59,259 107,198 113,302
General and administrative:        
General and administrative 120,180 108,836 238,028 230,070
Real estate charges 548 6,909 548 6,645
Contingent payment arrangements 829 52 883 105
Interest on borrowings 3,990 2,629 7,973 5,241
Amortization of intangible assets 7,285 6,927 14,259 13,788
Total expenses 673,579 655,274 1,300,890 1,300,390
Operating income 184,220 189,464 352,371 412,135
Income taxes 10,211 7,538 19,132 23,363
Net income 174,009 181,926 333,239 388,772
Net income of consolidated entities attributable to non-controlling interests 7,757 261 17,873 22,911
Net income attributable to AB Unitholders $ 166,252 $ 181,665 $ 315,366 $ 365,861
Net income per AB Unit:        
Basic (in dollars per unit) $ 0.61 $ 0.66 $ 1.17 $ 1.34
Diluted (in dollars per unit) $ 0.61 $ 0.66 $ 1.17 $ 1.34
Investment advisory and services fees        
Revenues:        
Revenue subject to contracts with customers $ 596,364 $ 598,108 $ 1,152,958 $ 1,172,224
Bernstein research services        
Revenues:        
Revenue subject to contracts with customers 105,991 106,211 196,226 220,611
Distribution related        
Revenues:        
Revenue subject to contracts with customers 108,347 105,118 208,856 213,122
Promotion and servicing:        
Distribution-related payments $ 116,254 $ 106,301 $ 222,247 $ 216,455