Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenues

Revenues for the three and six months ended June 30, 2024 and 2023 consisted of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)
Subject to contracts with customers:
Investment advisory and services fees
Base fees	$	774,017	$	703,371	$	1,528,256	$	1,395,699
Performance-based fees	43,310		18,307		73,476		54,886
Bernstein research services(1)	—		91,847		96,222		191,885
Distribution revenues
All-in-management fees	81,680		70,849		160,104		139,637
12b-1 fees	16,569		15,778		33,174		30,933
Other distribution fees	74,656		58,171		145,317		115,306
Other revenues
Shareholder servicing fees	22,356		20,801		44,019		41,094
Other	3,637		3,802		7,457		9,493
	1,016,225		982,926		2,088,025		1,978,933
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	22,173		24,744		42,971		47,402
Investment (losses) gains	(23,629)		670		(11,886)		5,934
Other revenues	13,174		116		12,984		278
	11,718		25,530		44,069		53,614
Total net revenues	$	1,027,943	$	1,008,456	$	2,132,094	$	2,032,547

(1) On April 1, 2024 AB and Societe Generale, a leading European bank, completed their transaction to form a jointly owned equity research provider and cash equity trading partner for institutional investors. AB has deconsolidated the Bernstein Research Services business and contributed the business to the joint venture. For further discussion, see Note 17 Divestiture.