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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 1,153,734 $ 861,783 $ 781,683
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred sales commissions 34,364 27,355 15,029
Non-cash long-term incentive compensation expense 216,425 195,642 208,182
Depreciation and other amortization 44,985 61,028 77,021
Unrealized losses (gains) on investments 4,454 10,405 (13,431)
Non-cash lease expense 98,773 98,798 103,773
Other, net 22,580 (2,914) 10,281
Changes in assets and liabilities:      
Decrease (increase) in securities, segregated 249,521 (658,612) 74,688
(Increase) decrease in receivables (360,789) (182,684) 223,137
(Increase) decrease in investments (27,000) 7,597 460,347
(Increase) in deferred sales commissions (45,197) (55,125) (34,177)
(Increase) decrease in other assets (6,578) 69,160 (23,140)
Increase (decrease) in payables 214,139 861,502 (641,369)
Increase (decrease) in accounts payable and accrued expenses 35,877 10,666 (56,518)
Increase (decrease) in accrued compensation and benefits 50,545 46,885 (7,486)
Operating cash flows from operating leases (114,769) (115,656) (132,669)
Net cash provided by operating activities 1,298,782 1,521,421 827,480
Cash flows from investing activities:      
Purchases of equity method investments 0 (4,079) 0
Purchases of furniture, equipment and leasehold improvements (61,931) (41,504) (28,303)
Acquisition of businesses, net of cash acquired (3,793) (13,552) 5,255
Net cash used in investing activities (65,724) (59,135) (23,048)
Cash flows from financing activities:      
Proceeds from debt, net 80,000 115,000 2,105
Increase (decrease) in overdrafts payable 16,192 (12,633) (59,924)
Distributions to General Partner and Unitholders (1,059,892) (836,879) (703,512)
Capital contributions (to) from affiliates (2,346) (867)  
Capital contributions (to) from affiliates     269
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units 3,402 147 11,511
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (261,825) (148,624) (171,930)
Other, net (2,186) 306 (3,571)
Net cash used in financing activities (912,956) (1,102,583) (774,961)
Effect of exchange rate changes on cash and cash equivalents (17,982) 23,032 8,376
Net increase in cash and cash equivalents 302,120 382,735 37,847
Cash and cash equivalents as of beginning of the period 1,073,906 691,171 653,324
Cash and cash equivalents as of end of the period 1,376,026 1,073,906 691,171
Cash paid:      
Interest paid 5,263 18,858 66,002
Income taxes paid 55,656 59,791 52,444
Non-cash investing activities:      
Fair value of assets acquired (excluding cash acquired of $2.8 million, $0.6 million and $11.8 million, for 2021, 2020 and 2019, respectively) 13,235 18,389 28,966
Fair value of liabilities assumed 1,642 437 16,837
Non-cash financing activities:      
Payables recorded under contingent payment arrangements 7,800 4,400 17,384
Consolidated company-sponsored investment funds      
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized losses (gains) on investments 1,882 (854) (36,150)
Changes in assets and liabilities:      
(Increase) decrease in investments (312,325) 279,276 (193,158)
(Increase) decrease in other assets 38,161 7,169 11,437
Cash flows from financing activities:      
Subscriptions (redemptions) of non-controlling interests of consolidated company-sponsored investment funds, net $ 313,699 $ (219,033) $ 150,091