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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 890,733 $ 547,918
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred sales commissions 40,152 26,506
Non-cash long-term incentive compensation expense 27,442 19,109
Depreciation and other amortization 69,673 68,868
Non-cash lease expense 90,913 76,745
Remeasurement of contingent payment arrangements (128,505) 13,115
Other, net 16,963 18,102
Changes in assets and liabilities:    
Decrease in securities, segregated 320,911 594,497
(Increase) decrease in receivables (61,177) 332,161
(Increase) in deferred sales commissions (110,642) (47,442)
(Decrease) in other liabilities of consolidated company-sponsored investment funds (7,604) (41,228)
(Decrease) in payables (504,165) (1,253,296)
Increase (decrease) in accounts payable and accrued expenses 79,860 (2,656)
Increase in accrued compensation and benefits 394,899 366,485
Cash payments to relieve operating lease liabilities (62,165) (80,678)
Net cash provided by operating activities 1,140,051 790,317
Cash flows from investing activities:    
Purchases of furniture, equipment and leasehold improvements (99,930) (21,399)
Divestiture of business (includes $304.0 million in cash proceeds) (40,196) 0
Capital contribution to equity method investments (39,401) 0
Debt repayment from equity method investments 86,200 0
Net cash contribution (to) affiliates (902) (2,499)
Net cash (used in) investing activities (94,229) (23,898)
Cash flows from financing activities:    
(Repayment of) debt, net (654,316) (90,000)
(Decrease) in overdrafts payable (2) 0
Distributions to General Partner and Unitholders (709,424) (630,789)
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (73,131) (70,837)
Other, net (7,011) (3,523)
Net cash (used in) financing activities (1,543,349) (991,497)
Effect of exchange rate changes on cash and cash equivalents 7,916 (2,240)
Net (decrease) in cash and cash equivalents (489,611) (227,318)
Cash and cash equivalents as of beginning of the period 1,160,889 1,309,017
Cash and cash equivalents as of end of the period 671,278 1,081,699
Excluding Company-Sponsored Investment Funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized (gains) on investments (13,901) 3,892
Equity in earnings of equity method investments 35,443 0
(Gain) on divestiture (134,555) 0
Changes in assets and liabilities:    
Decrease (increase) in investments 18,880 (24,726)
Decrease (increase) in other assets 26,187 (53,776)
Company-Sponsored Investment Funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized (gains) on investments (20,900) (22,413)
Changes in assets and liabilities:    
Decrease (increase) in investments 151,045 219,144
Decrease in other assets of consolidated company-sponsored investment funds 20,564 29,990
Cash flows from financing activities:    
(Redemptions) of non-controlling interest in consolidated company-sponsored investment funds, net $ (99,465) $ (196,348)