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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 695,374 $ 890,733
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred sales commissions 62,183 40,152
Non-cash long-term incentive compensation expense 14,951 27,442
Depreciation and other amortization 65,009 69,673
Remeasurement of contingent payment arrangement 0 (128,505)
(Gain) on divestiture 0 (134,555)
Non-cash lease expense 53,053 90,913
Retirement plan loss 17,733 0
Other, net 5,119 16,963
Changes in assets and liabilities:    
Decrease in securities, segregated 75,034 320,911
Decrease (increase) in receivables 46,160 (61,177)
(Increase) in deferred sales commissions (48,793) (110,642)
(Decrease) in payables (172,690) (504,165)
(Decrease) increase in accounts payable and accrued expenses (1,268) 79,860
Increase in accrued compensation and benefits 379,409 394,899
Cash payments to relieve operating lease liabilities (49,702) (62,165)
Net cash provided by operating activities 948,056 1,140,051
Cash flows from investing activities:    
Purchases of furniture, equipment and leasehold improvements (27,849) (99,930)
Divestiture of business (includes $304.0 million in cash proceeds in 2024) 0 (40,196)
Capital contribution to equity method investments 0 (39,401)
Debt repayment from equity method investments 0 86,200
Net cash (used in) investing activities (27,849) (93,327)
Cash flows from financing activities:    
(Repayment of) debt, net (245,000) (654,316)
(Decrease) in overdrafts payable 0 (2)
Distributions to General Partner and Unitholders (846,195) (709,424)
Capital contributions from AB Holdings 807  
Capital contributions to AB Holdings   (902)
Purchases of AB Holding Units for long-term incentive compensation plan awards, net (47,240) (73,131)
Other, net (4,267) (7,011)
Net cash (used in) financing activities (1,035,555) (1,544,251)
Effect of exchange rate changes on cash and cash equivalents 34,283 7,916
Net (decrease) in cash and cash equivalents (81,065) (489,611)
Cash and cash equivalents as of beginning of the period 834,033 1,160,889
Cash and cash equivalents as of end of the period 752,968 671,278
Non-cash financing activities:    
Retirement of AB Units in connection with EQH Amended Exchange Agreement (820,188) 0
Issuance of AB Units in connection with EQH Amended Exchange Agreement 820,188 0
Excluding Company-Sponsored Investment Funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized (gains) on investments (16,147) (13,901)
Equity in losses of equity method investments 32,343 35,443
Changes in assets and liabilities:    
(Increase) decrease in investments (16,928) 18,880
Decrease in other assets 2,880 26,187
(Increase) decrease in investments of consolidated company-sponsored investment funds (16,928) 18,880
Company-Sponsored Investment Funds    
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized (gains) on investments (4,598) (20,900)
Changes in assets and liabilities:    
(Increase) decrease in investments (208,253) 151,045
(Increase) decrease in other assets of consolidated company-sponsored investment funds (15,142) 20,564
(Increase) decrease in investments of consolidated company-sponsored investment funds (208,253) 151,045
Increase (decrease) in other liabilities of consolidated company-sponsored investment funds 32,329 (7,604)
Cash flows from financing activities:    
Terminations of non-controlling interest in consolidated company-sponsored investment funds, net $ 106,340  
Redemptions of non-controlling interest in consolidated company-sponsored investment funds, net   $ (99,465)