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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 225,955 $ 203,918  
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred sales commissions 11,799 8,154  
Non-cash long-term incentive compensation expense 8,976 6,776  
Depreciation and other amortization 23,244 22,849  
Non-cash lease expense 29,123 26,426  
(Gain) loss on assets held for sale (650) 2,500  
Other, net 7,795 (3,523)  
Changes in assets and liabilities:      
Decrease in securities, segregated 2,094 467,788  
(Increase) decrease in receivables (17,238) 126,176  
(Increase) in deferred sales commissions (31,697) (14,120)  
(Decrease) in payables (71,542) (764,090)  
Increase (decrease) in accounts payable and accrued expenses 50,615 (12,365)  
Increase in accrued compensation and benefits 34,064 23,277  
Cash payments to relieve operating lease liabilities (7,901) (26,566)  
Net cash provided by (used in) operating activities 353,687 (46,912)  
Cash flows from investing activities:      
Purchases of furniture, equipment and leasehold improvements (31,289) (10,572)  
Joint venture equalization payment 303,980 0  
Net cash provided by (used in) investing activities 272,691 (10,572)  
Cash flows from financing activities:      
Repayment of debt, net (254,316)    
Proceeds from debt, net   45,000  
Increase in overdrafts payable 45,688 86  
Distributions to General Partner and Unitholders (246,044) (221,919)  
Capital contributions (to) affiliates (891) (1,324)  
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (5,552) (18,090)  
Other, net (3,052) (2,339)  
Net cash (used in) financing activities (556,721) (200,719)  
Effect of exchange rate changes on cash and cash equivalents (10,156) 10,232  
Net increase (decrease) in cash and cash equivalents 59,501 (247,971)  
Cash and cash equivalents as of beginning of the period 1,160,889 1,309,017 $ 1,309,017
Cash and cash equivalents as of end of the period 1,220,390 1,061,046 $ 1,160,889
Excluding Company-Sponsored Investment Funds      
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized (gains) on investments (3,734) (4,662)  
Changes in assets and liabilities:      
Decrease in investments 30,595 18,571  
(Increase) in other assets (52,798) (102,965)  
Company-Sponsored Investment Funds      
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized (gains) on investments (7,481) (16,162)  
Changes in assets and liabilities:      
Decrease in investments 106,527 (10,641)  
Increase in other assets and liabilities of consolidated company-sponsored investment funds, net 15,941 1,747  
Cash flows from financing activities:      
(Redemptions) of non-controlling interest in consolidated company-sponsored investment funds, net $ (92,554) $ (2,133)