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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Dividend and interest income $ 30,437 $ 8,794 $ 64,424 $ 26,136
Investment (losses) gains (3,861) (2,724) (91,105) 3,385
Other revenues 27,096 26,973 80,201 80,584
Total revenues 1,007,753 1,093,792 3,096,579 3,179,758
Less: Interest expense 20,769 960 32,464 2,838
Net revenues 986,984 1,092,832 3,064,115 3,176,920
Expenses:        
Employee compensation and benefits 429,842 433,928 1,267,535 1,275,694
Promotion and servicing:        
Amortization of deferred sales commissions 8,341 8,731 26,678 24,866
Trade execution, marketing, T&E and other 51,594 47,428 163,225 140,677
General and administrative 154,961 132,064 480,441 383,611
Contingent payment arrangements 2,371 838 4,047 2,472
Interest on borrowings 5,309 1,280 9,401 3,815
Amortization of intangible assets 12,256 1,502 14,652 4,502
Total expenses 816,679 813,182 2,452,760 2,353,063
Operating income 170,305 279,650 611,355 823,857
Income taxes 5,239 16,029 28,609 45,254
Net income 165,066 263,621 582,746 778,603
Net (loss) income of consolidated entities attributable to non-controlling interests (10,114) (1,074) (61,930) 2,207
Net income attributable to AB Unitholders $ 175,180 $ 264,695 $ 644,676 $ 776,396
Net income per AB Unit:        
Basic (in dollars per share) $ 0.64 $ 0.96 $ 2.35 $ 2.82
Diluted (in dollars per share) $ 0.64 $ 0.96 $ 2.35 $ 2.82
Investment advisory and services fees        
Revenues:        
Revenue subject to contracts with customers $ 714,564 $ 776,797 $ 2,257,822 $ 2,257,887
Bernstein research services        
Revenues:        
Revenue subject to contracts with customers 91,557 113,340 315,806 338,016
Distribution related        
Revenues:        
Revenue subject to contracts with customers 147,960 170,612 469,431 473,750
Promotion and servicing:        
Distribution-related payments $ 152,005 $ 187,411 $ 486,781 $ 517,426