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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 781,683 $ 779,498 $ 720,800
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred sales commissions 15,029 21,343 31,886
Non-cash long-term incentive compensation expense 208,182 187,514 185,234
Depreciation and other amortization 166,542 70,000 66,999
Unrealized (gains) losses on investments (13,431) 23,164 3,554
Other, net 10,281 (6,446) 13,189
Changes in assets and liabilities:      
Decrease (increase) in securities, segregated 74,688 (353,204) 129,747
Decrease (increase) in receivables 223,137 (207,000) 67,539
Decrease (increase) in investments 460,347 (294,383) 293
(Increase) decrease in deferred sales commissions (34,177) (8,365) 1,878
(Increase) in right-of-use assets (11,141)    
(Increase) in other assets (23,140) (152,726) (2,255)
(Decrease) increase in payables (641,369) 1,024,317 (338,523)
(Decrease) in lease liabilities (107,276)    
(Decrease) increase in accounts payable and accrued expenses (56,518) (11,225) 10,657
(Decrease) increase in accrued compensation and benefits (7,486) 4,341 12,187
Net cash provided by operating activities 827,480 1,308,481 645,452
Cash flows from investing activities:      
Purchases of investments 0 0 (12)
Proceeds from sales of investments 0 0 11
Purchases of furniture, equipment and leasehold improvements (28,303) (32,789) (39,417)
Proceeds from sales of furniture, equipment and leasehold improvements 0 0 75
Acquisition of businesses, net of cash acquired 5,255 0 0
Net cash used in investing activities (23,048) (32,789) (39,343)
Cash flows from financing activities:      
(Repayment) issuance of commercial paper, net (532,895) 24,546 (28,553)
Proceeds from EQH facility 560,000 0 0
Repayment from bank loans (25,000) (50,000)  
Proceeds from bank loans     75,000
(Decrease) increase in overdrafts payable (59,924) 3,273 63,393
Distributions to General Partner and Unitholders (703,512) (858,193) (644,139)
Purchases (redemptions) of non-controlling interests of consolidated company-sponsored investment funds, net 0 (638) (43,217)
Capital contributions from affiliates 269   366
Capital contributions to affiliates   (1,421)  
Payments of contingent payment arrangements/purchase of shares (1,991) (1,093) (7,592)
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units 11,511 16,589 20,110
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (171,930) (267,427) (219,627)
Other (1,580) (2,151) (2,836)
Net cash used in financing activities (774,961) (1,608,658) (623,931)
Effect of exchange rate changes on cash and cash equivalents 8,376 (12,158) 21,760
Net increase (decrease) in cash and cash equivalents 37,847 (345,124) 3,938
Cash and cash equivalents as of beginning of the period 653,324 998,448 994,510
Cash and cash equivalents as of end of the period 691,171 653,324 998,448
Cash paid:      
Interest paid 66,002 60,286 30,975
Income taxes paid 52,444 41,946 67,421
Non-cash investing activities:      
Fair value of assets acquired (excluding cash acquired of $11.8 million) 28,966 0 0
Fair value of liabilities assumed 16,837 0 0
Non-cash financing activities:      
Payables recorded under contingent payment arrangements 17,384 0 0
Consolidated Company-Sponsored Investment Funds      
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized (gains) losses on investments (36,150) (14,217) (36,340)
Changes in assets and liabilities:      
Decrease (increase) in investments (193,158) 908,804 (639,067)
(Increase) in other assets 11,437 (662,934) 417,674
Cash flows from financing activities:      
Purchases (redemptions) of non-controlling interests of consolidated company-sponsored investment funds, net $ 150,091 $ (472,143) $ 163,164