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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 582,746 $ 778,603
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred sales commissions 26,678 24,866
Non-cash long-term incentive compensation expense 36,426 34,725
Depreciation and other amortization 44,702 33,603
Unrealized losses (gains) on investments 47,765 5,203
Non-cash lease expense 76,050 74,733
Other, net 20,158 13,799
Changes in assets and liabilities:    
Decrease in securities, segregated 168,835 844,939
(Increase) in receivables (224,089) (423,059)
Decrease (increase) in investments 12,253 24,052
(Increase) in deferred sales commissions (6,214) (36,805)
(Increase) in other assets (76,810) (182,775)
(Decrease) in payables (75,629) (226,164)
Increase in accounts payable and accrued expenses 1,571 35,107
Increase in accrued compensation and benefits 360,817 462,274
Cash payments to relieve operating lease liabilities (82,223) (87,662)
Net cash provided by operating activities 1,013,147 1,403,243
Cash flows from investing activities:    
Purchases of furniture, equipment and leasehold improvements (36,088) (52,074)
Acquisition of business, net cash acquired 40,282 (3,793)
Net cash provided by (used in) investing activities 4,194 (55,867)
Cash flows from financing activities:    
(Repayments) of debt, net (65,000) (285,000)
(Decrease) increase in overdrafts payable (19,746) 24,923
Distributions to General Partner and Unitholders (862,858) (797,811)
Capital contributions (to) affiliates (312) (1,914)
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units 178 3,402
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (107,295) (121,461)
Repayment of acquisition-related debt obligation (42,661) 0
Other (1,268) 1,148
Net cash used in financing activities (1,146,307) (1,163,474)
Effect of exchange rate changes on cash and cash equivalents (89,665) (15,038)
Net (decrease) increase in cash and cash equivalents (218,631) 168,864
Cash and cash equivalents as of beginning of the period 1,376,026 1,073,906
Cash and cash equivalents as of end of the period 1,157,395 1,242,770
Non-cash investing activities:    
Fair value of assets acquired (less cash acquired of $40.8 million and $2.8 million, respectively) 1,050,234 13,235
Fair value of deferred tax asset recorded 4,823 0
Fair value of liabilities assumed 300,381 1,642
Fair value of redeemable non-controlling interest assumed 13,191 0
Non-cash financing activities:    
Contingent consideration liability 229,571 7,800
Equity consideration issued/to be issued in connection with acquisition 552,196 0
Company-sponsored investment funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized losses (gains) on investments 90,297 3,878
Changes in assets and liabilities:    
Decrease (increase) in investments 51,108 22,505
(Decrease) increase in other assets and liabilities of consolidated company-sponsored investment funds, net (41,294) 1,421
Cash flows from financing activities:    
(Redemptions) subscriptions of non-controlling interest in consolidated company-sponsored investment funds, net $ (47,345) $ 13,239