Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Revenues

Revenues for the three and nine months ended September 30, 2025 and 2024 consisted of the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
	(in thousands)
Subject to contracts with customers:
Investment advisory and services fees
Base fees	$	852,478	$	813,623	$	2,475,663	$	2,341,879
Performance-based fees	21,972		28,763		97,877		102,239
Bernstein research services (1)	—		—		—		96,222
Distribution revenues
All-in-management fees	90,754		87,396		266,124		247,500
12b-1 fees	16,008		17,128		47,508		50,302
Other distribution fees	103,662		84,692		294,179		230,009
Other revenues
Shareholder servicing fees	21,176		22,624		59,096		66,643
JV related revenues (2)	9,242		13,522		27,589		26,499
Other	2,932		3,473		10,044		10,930
	1,118,224		1,071,221		3,278,080		3,172,223
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	20,741		17,726		58,049		60,697
Investment (losses)	(2,721)		(3,512)		(31,084)		(15,398)
Other revenues	903		54		1,616		61
	18,923		14,268		28,581		45,360
Total net revenues	$	1,137,147	$	1,085,489	$	3,306,661	$	3,217,583

(1) Effective April 1, 2024, AB deconsolidated the Bernstein Research Services business.

(2) We maintain certain service level agreements and recognize revenues associated with these transactions in connection with our investment in the JVs.