XML 131 R56.htm IDEA: XBRL DOCUMENT v3.25.4
Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Other Significant Segment Items
Net revenues derived from our investment management and related services were as follows:
Years Ended December 31
202520242023
(in thousands)
Institutions(1)
$683,543 $700,796 $666,670 
Retail(1)
2,470,403 2,311,317 1,926,020 
Private Wealth Management(1)
1,278,760 1,245,891 1,052,843 
Bernstein Research Services (2)
— 96,222 386,142 
Other160,942 205,426 231,189 
Total revenues4,593,648 4,559,652 4,262,864 
Less: Broker-dealer related Interest expense62,996 84,513 107,541 
Net revenues$4,530,652 $4,475,139 $4,155,323 
(1)Institutions, Retail and Private Wealth management revenues by channel include investment advisory base fees, performance-based fees, distribution revenues and shareholder servicing fees by channel.
(2)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 ventures.
Net revenues and long-lived assets, related to our U.S. and international operations, as of and for the years ended December 31, were as follows:
202520242023
(in thousands)
Net revenues1:
United States$2,635,169 $2,641,634 $2,527,498 
International:
         Luxembourg1,065,243 1,046,793 886,256 
         Japan579,892 487,409 375,222 
Other International250,348 299,303 366,347 
     Total International1,895,483 1,833,505 1,627,825 
Total $4,530,652 $4,475,139 $4,155,323 
Long-lived assets:   
United States$4,126,410 $4,187,885 $4,073,198 
International51,926 57,140 53,670 
Total$4,178,336 $4,245,025 $4,126,868 
(1)Locations comprising greater than 10% of total net revenues are disclosed separately in the current period. Prior periods have been recast to agree to current periods presentation.