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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 203,918 $ 235,682
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Amortization of deferred sales commissions 8,154 9,383
Non-cash long-term incentive compensation expense 6,776 18,616
Depreciation and other amortization 22,849 11,124
Unrealized losses (gains) on investments (4,662) 21,024
Non-cash lease expense 26,426 26,557
Loss on assets held for sale 2,500 0
Other, net (3,523) 4,395
Changes in assets and liabilities:    
Decrease (increase) in securities, segregated 467,788 (188,669)
Decrease (increase) in receivables 126,176 (193,178)
Decrease (increase) in investments 18,571 8,434
(Increase) in deferred sales commissions (14,120) (3,562)
(Increase) in other assets (102,965) (111,939)
(Decrease) increase in payables (764,090) 199,166
(Decrease) increase in accounts payable and accrued expenses (12,365) 20,473
Increase in accrued compensation and benefits 23,277 43,766
Cash payments to relieve operating lease liabilities (26,566) (26,828)
Net cash (used in) provided by operating activities (46,912) 150,183
Cash flows from investing activities:    
Purchases of furniture, equipment and leasehold improvements (10,572) (6,237)
Net cash used in investing activities (10,572) (6,237)
Cash flows from financing activities:    
Proceeds from debt, net 45,000 95,000
Increase (decrease) in overdrafts payable 86 (14,736)
Distributions to General Partner and Unitholders (221,919) (377,810)
Capital contributions (to) affiliates (1,324) (529)
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (18,090) (13,822)
Other, net (2,339) (1,173)
Net cash used in financing activities (200,719) (371,173)
Effect of exchange rate changes on cash and cash equivalents 10,232 (11,431)
Net (decrease) in cash and cash equivalents (247,971) (238,658)
Cash and cash equivalents as of beginning of the period 1,309,017 1,376,026
Cash and cash equivalents as of end of the period 1,061,046 1,137,368
Company-sponsored investment funds    
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Unrealized losses (gains) on investments (16,162) 40,898
Changes in assets and liabilities:    
Decrease (increase) in investments (10,641) 85,201
Increase (decrease) in other assets and liabilities of consolidated company-sponsored investment funds, net 1,747 (50,360)
Cash flows from financing activities:    
(Redemptions) of non-controlling interest in consolidated company-sponsored investment funds, net $ (2,133) $ (58,103)