Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenues

Revenues for the three and nine months ended September 30, 2024 and 2023 consisted of the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)
Subject to contracts with customers:
Investment advisory and services fees
Base fees	$	813,623	$	720,969	$	2,341,879	$	2,116,668
Performance-based fees	28,763		27,982		102,239		82,868
Bernstein research services(1)	—		93,875		96,222		285,760
Distribution revenues
All-in-management fees	87,396		72,240		247,500		211,877
12b-1 fees	17,128		16,388		50,302		47,321
Other distribution fees	84,692		60,421		230,009		175,727
Other revenues
Shareholder servicing fees	22,624		21,539		66,643		62,633
Other	3,473		2,861		10,930		12,354
	1,057,699		1,016,275		3,145,724		2,995,208
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	17,726		22,391		60,697		69,793
Investment (losses)	(3,512)		(6,694)		(15,398)		(760)
Other revenues	13,576		84		26,560		362
	27,790		15,781		71,859		69,395
Total net revenues	$	1,085,489	$	1,032,056	$	3,217,583	$	3,064,603

(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.