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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net income $ 221,694 $ 225,955  
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred sales commissions 20,161 11,799  
Non-cash long-term incentive compensation expense 7,554 8,976  
Depreciation and other amortization 21,440 23,244  
Non-cash lease expense 17,305 29,123  
(Gain) on assets held for sale 0 (650)  
Retirement plan loss 20,756 0  
Retirement plan funding (1,700) 0  
Other, net (4,227) 7,795  
Changes in assets and liabilities:      
(Increase) decrease in securities, segregated (272,256) 2,094  
Decrease (increase) in receivables 104,484 (17,238)  
(Increase) in deferred sales commissions (28,361) (31,697)  
Increase in other liabilities of consolidated company-sponsored investment funds, net 17,182 1,595  
Increase (decrease) in payables 224,090 (71,542)  
(Decrease) increase in accounts payable and accrued expenses (12,042) 50,615  
Increase in accrued compensation and benefits 3,877 34,064  
Cash payments to relieve operating lease liabilities (15,892) (7,901)  
Net cash provided by operating activities 148,816 353,687  
Cash flows from investing activities:      
Purchases of furniture, equipment and leasehold improvements (7,478) (31,289)  
Joint venture equalization payment 0 303,980  
Net cash (used in) provided by investing activities (7,478) 272,691  
Cash flows from financing activities:      
Proceeds from debt, net 30,000    
Repayment of debt, net   (254,316)  
Increase in overdrafts payable 0 45,688  
Distributions to General Partner and Unitholders (339,628) (246,044)  
Capital contributions (to) AB Holding (1,109) (891)  
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net (29,475) (5,552)  
Other, net (2,730) (3,052)  
Net cash (used in) financing activities (190,670) (556,721)  
Effect of exchange rate changes on cash and cash equivalents 12,823 (10,156)  
Net (decrease) increase in cash and cash equivalents (36,509) 59,501  
Cash and cash equivalents as of beginning of the period 834,033 1,160,889 $ 1,160,889
Cash and cash equivalents as of end of the period 797,524 1,220,390 $ 834,033
Excluding Company-Sponsored Investment Funds      
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized losses (gains) on investments 4,758 (3,734)  
Equity in earnings of equity method investments 6,073 0  
Changes in assets and liabilities:      
(Increase) decrease in investments (29,238) 30,595  
Decrease (increase) in other assets 41,034 (52,798)  
Company-Sponsored Investment Funds      
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized losses (gains) on investments 1,744 (7,481)  
Changes in assets and liabilities:      
(Increase) decrease in investments (202,080) 106,527  
Decrease in other assets of consolidated company-sponsored investment funds 2,460 14,346  
Cash flows from financing activities:      
Terminations of non-controlling interest in consolidated company-sponsored investment funds, net $ 152,272    
Redemptions of non-controlling interest in consolidated company-sponsored investment funds, net   $ (92,554)