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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Revenue subject to contracts with customers $ 861,148 $ 841,442 $ 2,465,095 $ 2,497,449
Dividend and interest income 24,882 21,942 79,882 71,351
Investment gains (losses) 4,433 565 31,117 26,860
Other revenues 24,497 24,012 71,499 76,548
Total revenues 890,845 864,651 2,577,571 2,598,848
Less: Interest expense 12,978 14,475 46,443 36,147
Net revenues 877,867 850,176 2,531,128 2,562,701
Expenses:        
Employee compensation and benefits 361,822 357,442 1,064,833 1,059,515
Promotion and servicing:        
Amortization of deferred sales commissions 3,605 4,651 10,348 17,362
Trade execution, marketing, T&E and other 53,814 50,793 161,012 164,095
General and administrative:        
General and administrative 117,056 107,526 355,084 337,596
Real estate charges (credits) 153 (155) 701 6,490
Contingent payment arrangements 829 52 1,712 157
Interest on borrowings 2,802 2,711 10,775 7,952
Amortization of intangible assets 7,277 6,965 21,536 20,753
Total expenses 675,084 636,357 1,975,974 1,936,747
Operating income 202,783 213,819 555,154 625,954
Income taxes 10,827 9,419 29,959 32,782
Net income 191,956 204,400 525,195 593,172
Net income of consolidated entities attributable to non-controlling interests 4,145 726 22,018 23,637
Net income attributable to AB Unitholders $ 187,811 $ 203,674 $ 503,177 $ 569,535
Net income per AB Unit:        
Basic (in dollars per unit) $ 0.69 $ 0.75 $ 1.86 $ 2.09
Diluted (in dollars per unit) $ 0.69 $ 0.75 $ 1.86 $ 2.09
Investment advisory and services fees        
Revenues:        
Revenue subject to contracts with customers $ 616,384 $ 610,063 $ 1,769,342 $ 1,782,287
Bernstein research services        
Revenues:        
Revenue subject to contracts with customers 102,014 103,581 298,240 324,192
Distribution related        
Revenues:        
Revenue subject to contracts with customers 118,635 104,488 327,491 317,610
Promotion and servicing:        
Distribution-related payments $ 127,726 $ 106,372 $ 349,973 $ 322,827