XML 53 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Revenue subject to contracts with customers $ 3,430,316 $ 3,315,390 $ 3,156,149
Dividend and interest income 104,421 98,226 71,162
Investment gains (losses) 38,659 2,653 92,102
Other revenues 97,559 98,676 97,135
Total revenues 3,575,637 3,419,760 3,323,686
Less: Interest expense 57,205 52,399 25,165
Net revenues 3,518,432 3,367,361 3,298,521
Expenses:      
Employee compensation and benefits 1,442,783 1,378,811 1,313,469
Promotion and servicing:      
Amortization of deferred sales commissions 15,029 21,343 31,886
Trade execution, marketing, T&E and other 219,860 222,630 213,275
General and administrative:      
General and administrative 484,750 448,996 481,488
Real estate charges 3,324 7,160 36,669
Contingent payment arrangements (510) (2,219) 267
Interest on borrowings 13,035 10,359 8,194
Amortization of intangible assets 28,759 27,781 27,896
Total expenses 2,694,995 2,542,047 2,524,611
Operating income 823,437 825,314 773,910
Income tax 41,754 45,816 53,110
Net income 781,683 779,498 720,800
Net income of consolidated entities attributable to non-controlling interests 29,641 21,910 58,397
Net income attributable to AB Unitholders $ 752,042 $ 757,588 $ 662,403
Net income per AB Unit:      
Basic (in dollars per share) $ 2.78 $ 2.79 $ 2.46
Diluted (in dollars per share) $ 2.78 $ 2.78 $ 2.45
Investment advisory and services fees      
Revenues:      
Revenue subject to contracts with customers $ 2,472,044 $ 2,362,211 $ 2,201,305
Bernstein research services      
Revenues:      
Revenue subject to contracts with customers 407,911 439,432 449,919
Distribution related      
Revenues:      
Revenue subject to contracts with customers 455,043 418,562 412,063
Promotion and servicing:      
Distribution-related payments $ 487,965 $ 427,186 $ 411,467