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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 382,678 $ 417,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred sales commissions 16,921 18,336
Non-cash long-term incentive compensation expense 15,367 27,116
Depreciation and other amortization 45,928 22,479
Unrealized losses (gains) on investments (1,853) 42,767
Non-cash lease expense 51,768 52,008
Other, net 4,699 13,481
Changes in assets and liabilities:    
Decrease (increase) in securities, segregated 643,417 (242,981)
Decrease (increase) in receivables 336,744 (236,763)
Decrease (increase) in investments 3,155 12,527
(Increase) in deferred sales commissions (29,916) (3,093)
(Increase) in other assets (18,581) (92,696)
(Decrease) increase in payables (1,027,887) 396,196
(Decrease) increase in accounts payable and accrued expenses (15,595) 15,873
Increase in accrued compensation and benefits 185,443 200,725
Cash payments to relieve operating lease liabilities (53,498) (54,148)
Net cash provided by operating activities 722,321 701,987
Cash flows from investing activities:    
Purchases of furniture, equipment and leasehold improvements (14,941) (19,337)
Capital contributions (to) affiliates 2,030 0
Acquisition of business, net cash acquired 0 (495)
Net cash used in investing activities (16,971) (19,832)
Cash flows from financing activities:    
Repayment of debt, net (120,000)  
Proceeds from debt, net   45,000
(Decrease) in overdrafts payable 0 (14,235)
Distributions to General Partner and Unitholders (435,213) (648,224)
Capital contributions from affiliates 0 373
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units 0 178
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (18,662) (106,457)
Other, net (2,426) (1,352)
Net cash used in financing activities (772,184) (785,117)
Effect of exchange rate changes on cash and cash equivalents 16,178 (51,772)
Net (decrease) in cash and cash equivalents (50,656) (154,734)
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 1,258,361 1,221,292
Non-cash investing activities:    
Fair value of assets acquired (less cash acquired of zero in 2022) 0 2,995
Non-cash financing activities:    
Contingent consideration liability 0 2,500
Company-sponsored investment funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized losses (gains) on investments (27,027) 80,091
Changes in assets and liabilities:    
Decrease (increase) in investments 221,636 74,429
(Decrease) in other assets and liabilities of consolidated company-sponsored investment funds, net (11,078) (42,040)
Cash flows from financing activities:    
(Redemptions) of non-controlling interest in consolidated company-sponsored investment funds, net $ (195,883) $ (60,400)