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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Revenue subject to contracts with customers $ 907,320 $ 769,186
Dividend and interest income 20,465 27,346
Investment (losses) gains (44,306) 15,735
Other revenues 25,511 22,206
Total revenues 883,475 812,625
Less: Interest expense 9,319 17,163
Net revenues 874,156 795,462
Expenses:    
Employee compensation and benefits 362,272 339,309
Promotion and servicing:    
Amortization of deferred sales commissions 5,526 3,502
Trade execution, marketing, T&E and other 55,610 49,648
General and administrative 122,267 117,848
Contingent payment arrangements 793 54
Interest on borrowings 2,834 3,983
Amortization of intangible assets 6,486 6,974
Total expenses 695,933 627,311
Operating income 178,223 168,151
Income taxes 9,474 8,921
Net income 168,749 159,230
Net (loss) income of consolidated entities attributable to non-controlling interests (25,571) 10,116
Net income attributable to AB Unitholders $ 194,320 $ 149,114
Net income per AB Unit:    
Basic (in dollars per unit) $ 0.71 $ 0.55
Diluted (in dollars per unit) $ 0.71 $ 0.55
Investment advisory and services fees    
Revenues:    
Revenue subject to contracts with customers $ 621,725 $ 556,594
Bernstein research services    
Revenues:    
Revenue subject to contracts with customers 129,223 90,235
Distribution related    
Revenues:    
Revenue subject to contracts with customers 130,857 100,509
Promotion and servicing:    
Distribution-related payments $ 140,145 $ 105,993