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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Dividend and interest income $ 22,512 $ 8,658 $ 33,987 $ 17,342
Investment (losses) gains (48,220) 4,181 (87,244) 6,109
Other revenues 26,950 25,900 53,105 53,611
Total revenues 980,290 1,077,556 2,088,826 2,085,966
Less: Interest expense 8,846 734 11,695 1,878
Net revenues 971,444 1,076,822 2,077,131 2,084,088
Expenses:        
Employee compensation and benefits 398,273 435,707 837,693 841,766
Promotion and servicing:        
Amortization of deferred sales commissions 8,953 8,236 18,336 16,135
Trade execution, marketing, T&E and other 60,404 46,571 111,631 93,249
General and administrative 147,855 131,324 325,480 251,547
Contingent payment arrangements 838 838 1,676 1,634
Interest on borrowings 2,681 1,241 4,092 2,535
Amortization of intangible assets 1,260 1,521 2,396 3,000
Total expenses 778,796 793,199 1,636,080 1,539,881
Operating income 192,648 283,623 441,051 544,207
Income taxes 10,650 12,480 23,371 29,225
Net income 181,998 271,143 417,680 514,982
Net (loss) income of consolidated entities attributable to non-controlling interests (26,771) 3,573 (51,816) 3,281
Net income attributable to AB Unitholders $ 208,769 $ 267,570 $ 469,496 $ 511,701
Net income per AB Unit:        
Basic (in dollars per share) $ 0.76 $ 0.97 $ 1.71 $ 1.86
Diluted (in dollars per share) $ 0.76 $ 0.97 $ 1.71 $ 1.86
Investment advisory and services fees        
Revenues:        
Revenue subject to contracts with customers $ 719,476 $ 777,624 $ 1,543,258 $ 1,481,090
Bernstein research services        
Revenues:        
Revenue subject to contracts with customers 106,442 105,655 224,249 224,676
Distribution related        
Revenues:        
Revenue subject to contracts with customers 153,130 155,538 321,471 303,138
Promotion and servicing:        
Distribution-related payments $ 158,532 $ 167,761 $ 334,776 $ 330,015