XML 114 R31.htm IDEA: XBRL DOCUMENT v3.22.4
Business Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Management has assessed the requirements of ASC 280, Segment Reporting, and determined that, because we utilize a consolidated approach to assess performance and allocate resources, we have only one operating segment. Enterprise-wide disclosures as of and for the years ended December 31, 2022, 2021 and 2020 were as follows:
Services
Net revenues derived from our investment management, research and related services were as follows:
Years Ended December 31
202220212020
(in thousands)
Institutions$659,983 $587,017 $512,914 
Retail2,000,908 2,223,829 1,811,948 
Private Wealth Management1,004,003 1,126,142 882,672 
Bernstein Research Services416,273 452,017 459,744 
Other39,561 56,283 56,908 
Total revenues4,120,728 4,445,288 3,724,186 
Less: Interest expense66,438 3,686 15,650 
Net revenues$4,054,290 $4,441,602 $3,708,536 
No individual fund accounted for more than 10% of our investment advisory and service fees and our net revenues during 2022, 2021 and 2020.
Geographic Information
Net revenues and long-lived assets, related to our U.S. and international operations, as of and for the years ended December 31, were as follows:
202220212020
(in thousands)
Net revenues:
United States$2,381,958 $2,558,592 $2,106,636 
International1,672,332 1,883,010 1,601,900 
Total (1)
$4,054,290 $4,441,602 $3,708,536 
Long-lived assets:   
United States$4,067,991 $3,331,572 
International72,466 45,796 
Total$4,140,457 $3,377,368 
(1)We have recast prior period presentation of geographic revenues to align with current period presentation by legal entity domicile as compared to historical presentation method by client domicile.
Major Customers
No single customer or individual client accounted for more than 10% of our total revenues for the years ended December 31, 2022, 2021 and 2020.