10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM 10-Q/A

Amendment No. 1

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended June 30, 2011
	OR
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                         to

Commission File No.  000-29961

ALLIANCEBERNSTEINL.P.

(Exact name of registrant as specified in its charter)

Delaware	13-4064930
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1345 Avenue of the Americas, New York, NY  10105

(Address of principal executive offices)

(Zip Code)

(212) 969-1000

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yesx Noo

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yesx No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definition of “accelerated filer,” “large accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer x	Accelerated filer o
Non-accelerated filer o (Do not check if a smaller reporting company)	Smaller reporting company o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yeso Nox

The number of units of limited partnership interest outstanding as of June 30, 2011 was 278,011,850.

EXPLANATORY NOTE

The purpose of this Amendment No. 1 to our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, as filed with the Securities and Exchange Commission on July 29, 2011 (the “Form 10-Q”), is to furnish the interactive data files as Exhibit 101 to the Form 10-Q.  Exhibit 101 to this Amendment No. 1 provides the following items from the Form 10-Q formatted in XBRL (Extensible Business Reporting Language):  (i) the condensed consolidated statements of financial condition as of June 30, 2011 and December 31, 2010; (ii) the condensed consolidated statements of income for the three-month and six-month periods ended June 30, 2011 and 2010; (iii)  the condensed consolidated statements of cash flows for the six-month periods ended June 30, 2011 and 2010; and (iv) the notes to condensed consolidated financial statements as of June 30, 2011.

No changes have been made to the Form 10-Q other than as described above.  This Amendment No. 1 does not reflect any subsequent information or events occurring after the original filing date of the Form 10-Q or modify or update in any way disclosures made in the Form 10-Q, as filed with the Securities and Exchange Commission on July 29, 2011.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

2

Item 6. Exhibits

15.1 Letter from PricewaterhouseCoopers LLP, our independent registered public accounting firm, regarding unaudited interim financial information.

31.1 Certification of Mr. Kraus furnished pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 Certification of Mr. Farrell furnished pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 Certification of Mr. Kraus furnished for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2 Certification of Mr. Farrell furnished for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS* XBRL Instance Document.

101.SCH* XBRL Taxonomy Extension Schema.

101.CAL* XBRL Taxonomy Extension Calculation Linkbase.

101.LAB* XBRL Taxonomy Extension Label Linkbase.

101.PRE* XBRL Taxonomy Extension Presentation Linkbase.

101.DEF* XBRL Taxonomy Extension Definition Linkbase.

* Furnished herewith.  All other exhibits were previously filed with AllianceBernstein L.P.’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, as filed with the Securities and Exchange Commission on July 29, 2011.

3

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: August 26, 2011	ALLIANCEBERNSTEIN L.P.
	By:	/s/ Edward J. Farrell
		Edward J. Farrell
		Chief Accounting Officer and
		Interim Chief Financial Officer

4

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Condensed Consolidated Statements of Financial Condition (unaudited) (Parenthetical) (USD $) In Thousands, except Share data	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Cash and securities segregated, at cost	$ 1,015,102	$ 1,109,785
Capital:
Limited partners: units issued (in units)	278,011,850	278,115,232
Limited partners: units outstanding (in units)	278,011,850	278,115,232

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Condensed Consolidated Statements of Income (unaudited) (USD $) In Thousands, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Revenues:
Investment advisory and services fees	$ 508,323	$ 512,788	$ 1,023,315	$ 1,025,040
Bernstein research services	107,609	117,158	227,233	227,910
Distribution revenues	92,272	83,477	181,099	163,826
Dividend and interest income	4,926	4,911	10,018	8,822
Investment gains (losses)	(13,596)	(56,532)	(12,620)	(64,552)
Other revenues	29,108	27,735	55,963	54,297
Total revenues	728,642	689,537	1,485,008	1,415,343
Less: Interest expense	648	1,194	1,624	1,914
Net revenues	727,994	688,343	1,483,384	1,413,429
Expenses:
Employee compensation and benefits	326,867	312,813	666,368	632,238
Promotion and servicing:
Distribution-related payments	78,557	71,015	153,313	137,764
Amortization of deferred sales commissions	9,871	12,147	20,197	24,268
Other	59,319	49,816	112,661	92,645
General and administrative:
General and administrative	131,821	129,095	264,712	255,160
Real estate charges	18	0	36	11,983
Interest on borrowings	619	430	1,305	985
Amortization of intangible assets	5,296	5,378	10,731	10,755
Total expenses	612,368	580,694	1,229,323	1,165,798
Operating income	115,626	107,649	254,061	247,631
Non-operating income	0	2,258	0	6,773
Income before income taxes	115,626	109,907	254,061	254,404
Income taxes	8,243	13,127	18,252	26,131
Net income	107,383	96,780	235,809	228,273
Net loss of consolidated entities attributable to non-controlling interests	6,756	9,339	14,802	26,112
Net income attributable to AllianceBernstein Unitholders	$ 114,139	$ 106,119	$ 250,611	$ 254,385
Net income per AllianceBernstein Unit:
Basic (in dollars per share)	$ 0.41	$ 0.38	$ 0.89	$ 0.92
Diluted (in dollars per share)	$ 0.41	$ 0.38	$ 0.89	$ 0.91

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Business Description and Organization (Tables)

6 Months Ended

Jun. 30, 2011

Business Description and Organization [Abstract]

Ownership Interest by Limited Partners

As of June 30, 2011, the ownership structure of AllianceBernstein, expressed as a percentage of general and limited partnership interests, was as follows:

AXA and its subsidiaries	60.9	%
Holding	37.5
Unaffiliated holders	1.6
	100.0	%

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Document And Entity Information (USD $)	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Entity Registrant Name	ALLIANCEBERNSTEIN L.P.
Entity Central Index Key	0001109448
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$ 0
Entity Common Stock, Shares Outstanding	278,011,850
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2011

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Investments (Tables)

6 Months Ended

Jun. 30, 2011

Investments [Abstract]

Investments

Investments consist of:
	June 30, 2011		December 31, 2010
	(in thousands)
Available-for-sale	$	14,909	$	16,588
Trading:
Deferred compensation-related		209,260		239,787
United States Treasury Bills		37,994		52,975
Seed money		213,388		177,589
Other		72,458		35,259
Investments in limited partnership hedge funds:
Deferred compensation-related		43,269		58,918
Seed money/other		213,590		47,735
Consolidated private equity fund		81,594		101,360
Private equity		28,814		17,803
Other		7,706		8,541
Total investments	$	922,982	$	756,555

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Acquisitions (Details) (USD $) In Millions, unless otherwise specified	4 Months Ended	3 Months Ended	1 Months Ended
	Oct. 31, 2010 SunAmerica [Member]	Mar. 31, 2011 AXA [Member]	May 31, 2011 Pyrander Capital Management [Member]
Acquisition [Abstract]
Date of Acquisition	October 1, 2010		May 31, 2011
Purchase price of acquisition	$ 49.0	$ 21.4	$ 10.2
Cash Paid	14.3	21.4	5.5
Assumed deferred compensation liabilites	2.5
Net contingent consideration payable	32.2
Contingent consideration payable, recurring payment	1.5
Projected revenue sharing payments, contingent consideration payable	35.5
Performance-based fees	4.1
Goodwill	46.1		5.7
Ownership interest disposed (in hundredths)		50.00%
Business acquisition interest acquired (in hundredths)		50.00%
Eliminated non-controlling interests		32.1
Increased partner's capital attributable to AllianceBernstein unitholders		10.7
Contingently liable to Caxton			4.4
Term of future purchase price payable (in years)			2 Y
Miscellaneous liability assumed in purchase price			0.3
Indefinite-lived intangible assets acquired			2.5
Definite-lived intangible assets acquired			2.0
Number of restricted Holding unit awards			2
Term of first restricted Holding unit award (in years)			3Y
Term of second restricted Holding unit award (in years)			5Y
Contingent liability to Caxton			$ 4.4

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Fair Value

6 Months Ended

Jun. 30, 2011

Fair Value [Abstract]

Fair Value

7. Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. The three broad levels of fair value hierarchy are as follows:

• Level 1  –  Quoted prices in active markets are available for identical assets or liabilities as of the reported date.

• Level 2  –  Quoted prices in markets that are not active or other pricing inputs that are either directly or indirectly observable as of the reported date.

• Level 3 – Prices or valuation techniques that are both significant to the fair value measurement and unobservable as of the reported date. These financial instruments do not have two-way markets and are measured using management's best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize the valuation of our financial instruments by pricing observability levels as of June 30, 2011 and December 31, 2010:

	Level 1		Level 2		Level 3		Total
	(in thousands)
June 30, 2011:
Money markets	$	91,191	$	-	$	-	$	91,191
U.S. Treasury bills		-		1,037,887		-		1,037,887
U.K. Treasury bills		-		8,134		-		8,134
Equity securities
Growth		103,919		9		-		103,928
Value		80,382		-		-		80,382
Blend		111,555		-		-		111,555
Other(1)		65,956		5,158		-		71,114
Fixed Income securities
Taxable(2)		96,418		22,398		-		118,816
Tax-exempt(3)		15,002		638		-		15,640
Other		18		-		-		18
Derivatives		-		1,024		-		1,024
Long exchange-traded options		8,563		-		-		8,563
Private equity		31,069		4,205		59,524		94,798
Total assets measured at fair value	$	604,073	$	1,079,453	$	59,524	$	1,743,050
Securities sold not yet purchased
Short equities – corporate	$	21,749	$	-	$	-	$	21,749
Short exchange-traded options		10,208		-		-		10,208
Derivatives		2,099		2,221		-		4,320
Total liabilities measured at fair value	$	34,056	$	2,221	$	-	$	36,277

	Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2010:
Money markets	$	323,104	$	-	$	-	$	323,104
U.S. Treasury bills		-		1,137,578		-		1,137,578
U.K. Treasury bills		-		7,911		-		7,911
Equity securities
Growth		97,161		188		69		97,418
Value		73,579		-		-		73,579
Blend		93,590		-		-		93,590
Other(1)		28,868		5,051		-		33,919
Fixed Income securities
Taxable(2)		130,122		21,491		-		151,613
Tax-exempt(3)		9,310		750		-		10,060
Other		17		-		-		17
Derivatives		16		1,628		-		1,644
Long exchange-traded options		9,027		-		-		9,027
Private equity		24,432		23,811		59,345		107,588
Total assets measured at fair value	$	789,226	$	1,198,408	$	59,414	$	2,047,048
Securities sold not yet purchased
Short equities – corporate	$	42,914	$	-	$	-	$	42,914
Short exchange-traded options		7,622		-		-		7,622
Other		3		-		-		3
Derivatives		318		3,235		-		3,553
Total liabilities measured at fair value	$	50,857	$	3,235	$	-	$	54,092

(1) Primarily long positions in corporate equities traded through our options desk.

(2) Primarily corporate and government securities.

(3) Primarily municipal bonds.

Following is a description of the fair value methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy:

• Money markets: We invest excess cash in various money market funds that are valued based on quoted prices in active markets; these are included in Level 1 of the valuation hierarchy.

• Treasury bills: We hold United States Treasury Bills, which are segregated in a special reserve bank custody account as required by Rule 15c3-3 of the Exchange Act. We also hold United Kingdom Treasury Bills. These securities are valued based on quoted yields in secondary markets and are included in Level 2 of the valuation hierarchy.

• Equity and fixed income securities: Our equity and fixed income securities consist principally of company-sponsored mutual funds with exchange listed net asset values and various separately-managed portfolios consisting primarily of equity and fixed income securities with quoted prices in active markets, which are included in Level 1 of the valuation hierarchy. In addition, some securities are valued based on observable inputs from recognized pricing vendors, which are included in Level 2 of the valuation hierarchy. Also, as of December 31, 2010 an insignificant amount of securities are included in Level 3 of the valuation hierarchy.

• Derivatives: We hold exchange-traded futures with counterparties that are included in Level 1 of the valuation hierarchy.  In addition, we also hold currency forward contracts, interest rate swaps, credit default swaps and total return swaps with counterparties that are included in Level 2 of the valuation hierarchy.

•  Options: We hold long exchange-traded options that are included in Level 1 of the valuation hierarchy.

• Private equity: The valuation of non-public private equity investments owned by our consolidated venture capital fund requires significant management judgment due to the absence of quoted market prices, inherent lack of liquidity and the long-term nature of such investments. Private equity investments are valued initially at cost. The carrying values of private equity investments are adjusted either up or down from cost to reflect expected exit values as evidenced by financing and sale transactions with third parties, or when determination of a valuation adjustment is confirmed through ongoing review in accordance with our valuation policies and procedures. A variety of factors are reviewed and monitored to assess positive and negative changes in valuation including, but not limited to, current operating performance and future expectations of investee companies, industry valuations of comparable public companies, changes in market outlooks and the third party financing environment over time. In determining valuation adjustments resulting from the investment review process, particular emphasis is placed on current company performance and market conditions. Non-public equity investments are included in Level 3 of the valuation hierarchy because they trade infrequently and, therefore, their fair value is unobservable. Publicly-traded equity investments owned by our consolidated venture capital fund are included in Level 1 of the valuation hierarchy. If they contain trading restrictions, publicly-traded equity investments are included in Level 2 of the valuation hierarchy. One of our private securities went public in the first quarter of 2011 and due to a trading restriction period $3.6 million was transferred from a Level 3 classification to a Level 2 classification. During the second quarter of 2011, the trading restriction period for one of our public securities lapsed, and as a result $20.6 million was transferred from a Level 2 classification to a Level 1 classification.

• Securities sold not yet purchased: Securities sold not yet purchased, primarily reflecting short positions in equities and exchange-traded options, are included in Level 1 of the valuation hierarchy.

Effective January 1, 2011, we adopted the second part of ASU 2010-06, Improving Disclosures about Fair Value Measurements, which requires that purchases, sales, issuances and settlements be presented separately within the Level 3 reconciliation. The following table summarizes the change in carrying value associated with Level 3 financial instruments carried at fair value:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(in thousands)
Balance as of beginning of period	$	60,188		$	102,256		$	59,414		$	98,559
Transfer (out) in, net		-			(82	)		(3,588	)		(163	)
Purchases		2,769			3,089			7,416			5,811
Sales		-			(4,497	)		(213	)		(4,872	)
Realized gains (losses), net		-			(2,481	)		(2,860	)		(2,429	)
Unrealized gains (losses), net		(3,433	)		4,436			(645	)		5,815
Balance as of end of period	$	59,524		$	102,721		$	59,524		$	102,721

Transfers into and out of all levels of the fair value hierarchy are reflected at end-of-period fair values. Realized and unrealized gains and losses on Level 3 financial instruments are recorded in investment gains and losses in the condensed consolidated statements of income. Substantially all of the Level 3 investments are private equity investments owned by our consolidated venture capital fund, of which we own 10% and non-controlling interests own 90%.

Assets Measured at Fair Value on a Nonrecurring Basis

There were no impairments recognized for goodwill, intangible assets or other long-lived assets as of June 30, 2011.

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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2011

Derivative Instruments [Abstract]

Derivative Instruments

The following tables present the notional value and fair value as of June 30, 2011 and December 31, 2010 for derivative instruments not designated as hedging instruments:

	Notional Value		Asset Derivatives		Liability Derivatives
	(in thousands)
June 30, 2011:
Exchange-traded futures	$	78,518	$	-	$	2,099
Currency forwards		123,848		201		721
Interest rate swaps		56,660		318		389
Credit default swaps		45,315		448		343
Total return swaps		26,326		57		768
Total derivatives	$	330,667	$	1,024	$	4,320

	Notional Value		Asset Derivatives		Liability Derivatives
	(in thousands)
December 31, 2010:
Exchange-traded futures	$	16,973	$	16	$	318
Currency forwards		133,471		249		1,000
Interest rate swaps		43,210		1,197		239
Credit default swaps		74,915		182		1,036
Total return swaps		28,975		-		960
Total derivatives	$	297,544	$	1,644	$	3,553

Gain and Losses recognized in Investment gains (losses)

The following table presents the gains and losses recognized in investment gains (losses) in the condensed consolidated statements of income:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(in thousands)
Exchange-traded futures	$	431		$	1,120		$	(353	)	$	(180	)
Currency forwards		(355	)		(579	)		(203	)		(850	)
Interest rate swaps		(838	)		(2,028	)		(710	)		(2,409	)
Credit default swaps		(322	)		360			(204	)		202
Total return swaps		(749	)		936			(1,123	)		936
Balance as of end of period	$	(1,833	)	$	(191	)	$	(2,593	)	$	(2,301	)

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Income Taxes (Details)	6 Months Ended
	Jun. 30, 2011
Income Taxes [Abstract]
New York City unincorporated business tax rate (in hundredths)	4.00%

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Derivative Instruments (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010	Dec. 31, 2010
Derivatives, Fair Value [Line Items]
Notional Value	$ 330,667,000		$ 330,667,000		$ 297,544,000
Asset Derivatives	1,024,000		1,024,000		1,644,000
Liability Derivatives	4,320,000		4,320,000		3,553,000
Investment gains and losses	(1,833,000)	(191,000)	(2,593,000)	(2,301,000)
Cash collateral payable to trade counterparties	3,500,000		3,500,000		6,900,000
Return of cash collateral into brokerage accounts	10,000,000		10,000,000		9,300,000
Exchange-Traded Future [Member]
Derivatives, Fair Value [Line Items]
Notional Value	78,518,000		78,518,000		16,973,000
Asset Derivatives	0		0		16,000
Liability Derivatives	2,099,000		2,099,000		318,000
Investment gains and losses	431,000	1,120,000	(353,000)	(180,000)
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Notional Value	123,848,000		123,848,000		133,471,000
Asset Derivatives	201,000		201,000		249,000
Liability Derivatives	721,000		721,000		1,000,000
Investment gains and losses	(355,000)	(579,000)	(203,000)	(850,000)
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Notional Value	56,660,000		56,660,000		43,210,000
Asset Derivatives	318,000		318,000		1,197,000
Liability Derivatives	389,000		389,000		239,000
Investment gains and losses	(838,000)	(2,028,000)	(710,000)	(2,409,000)
Credit Default Swap [Member]
Derivatives, Fair Value [Line Items]
Notional Value	45,315,000		45,315,000		74,915,000
Asset Derivatives	448,000		448,000		182,000
Liability Derivatives	343,000		343,000		1,036,000
Investment gains and losses	(322,000)	360,000	(204,000)	202,000
Total Return Swap [Member]
Derivatives, Fair Value [Line Items]
Notional Value	26,326,000		26,326,000		28,975,000
Asset Derivatives	57,000		57,000		0
Liability Derivatives	768,000		768,000		960,000
Investment gains and losses	$ (749,000)	$ 936,000	$ (1,123,000)	$ 936,000

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Net Income Per Unit (Tables)

6 Months Ended

Jun. 30, 2011

Net Income Per Unit [Abstract]

Earnings Per Unit, Basic and Diluted

Basic net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the total of the basic weighted average number of units outstanding and the dilutive unit equivalents resulting from outstanding compensatory options to buy Holding Units as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(in thousands, except per unit amounts)
Net income attributable to AllianceBernstein Unitholders	$	114,139	$	106,119	$	250,611	$	254,385
Weighted average units outstanding - basic		278,005		275,498		278,047		275,204
Dilutive effect of compensatory options to buy Holding Units		556		2,026		682		1,933
Weighted average units outstanding – diluted		278,561		277,524		278,729		277,137
Basic net income per AllianceBernstein Unit	$	0.41	$	0.38	$	0.89	$	0.92
Diluted net income per AllianceBernstein Unit	$	0.41	$	0.38	$	0.89	$	0.91

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Debt

6 Months Ended

Jun. 30, 2011

Debt [Abstract]

Debt

12. Debt

At June 30, 2011 and December 31, 2010, AllianceBernstein had $315.0 million and $225.0 million, respectively, in commercial paper outstanding with weighted average interest rates of approximately 0.2% and 0.3%, respectively. The fair value of commercial paper and amounts outstanding under the 2010 Credit Facility described below are short-term in nature, and as such, recorded value is estimated to approximate fair value. Average daily borrowings of commercial paper during the first six months of 2011 and the full-year 2010 were $286.0 million and $104.2 million, respectively, with weighted average interest rates of approximately 0.2% for both periods.

On December 9, 2010, AllianceBernstein entered into a committed, unsecured three-year senior revolving credit facility (the “2010 Credit Facility”) with a group of commercial banks and other lenders in an original principal amount of $1.0 billion with SCB LLC as an additional borrower.

The 2010 Credit Facility replaced AllianceBernstein's existing $1.95 billion of committed credit lines (comprised of two separate lines – a $1.0 billion committed, unsecured revolving credit facility in the name of AllianceBernstein, which had a scheduled expiration date of February 17, 2011, and SCB LLC's $950 million committed, unsecured revolving credit facility, which had a scheduled expiration date of January 25, 2011), both of which were terminated upon the effectiveness of the 2010 Credit Facility. AllianceBernstein has agreed to guarantee the obligations of SCB LLC under the 2010 Credit Facility.

The 2010 Credit Facility is available for AllianceBernstein's and SCB LLC's business purposes, including the support of AllianceBernstein's $1.0 billion commercial paper program. Both AllianceBernstein and SCB LLC can draw directly under the 2010 Credit Facility and management expects to draw on the 2010 Credit Facility from time to time.

The 2010 Credit Facility contains affirmative, negative and financial covenants, which are customary for facilities of this type, including, among other things, restrictions on dispositions of assets, restrictions on liens, a minimum interest coverage ratio and a maximum leverage ratio.  We are in compliance with these covenants.  The 2010 Credit Facility also includes customary events of default (with customary grace periods, as applicable), including provisions under which, upon the occurrence of an event of default, all outstanding loans may be accelerated and/or lender's commitments may be terminated. Also, under such provisions, upon the occurrence of certain insolvency or bankruptcy related events of default, all amounts payable under the 2010 Credit Facility would automatically become immediately due and payable, and the lender's commitments would automatically terminate.

The 2010 Credit Facility provides for possible increases in principal amount by up to an aggregate incremental amount of $250 million, any such increase being subject to the consent of the affected lenders. Amounts under the 2010 Credit Facility may be borrowed, repaid and re-borrowed by us from time to time until the maturity of the facility. Voluntary prepayments and commitment reductions requested by us are permitted at any time without fee (other than customary breakage costs relating to the prepayment of any drawn loans) upon proper notice and subject to a minimum dollar requirement. Borrowings under the 2010 Credit Facility bear interest at a rate per annum, which will be, at our option, a rate equal to an applicable margin, which is subject to adjustment based on the credit ratings of AllianceBernstein, plus one of the following indexes: London Interbank Offered Rate; a floating base rate; or the Federal Funds rate.

As of June 30, 2011 and December 31, 2010, we had no amounts outstanding under the 2010 Credit Facility. Average daily borrowings under the revolving credit facility outstanding during the first six months of 2011 and full-year 2010 were $0.2 million and $65.6 million, respectively, with weighted average interest rates of approximately 1.3% and 0.3%, respectively.

In addition, SCB LLC has five uncommitted lines of credit with four financial institutions. Two of these lines of credit permit us to borrow up to an aggregate of approximately $200.0 million while three lines have no stated limit.

At June 30, 2011 and December 31, 2010, AllianceBernstein had $15.0 million and zero, respectively, in uncommitted bank loans outstanding with a weighted average interest rate of approximately 0.9% at June 30, 2011. Average daily borrowings of bank loans during the first six months of 2011 and the full-year 2010 were $8.3 million and $2.4 million, respectively, with weighted average interest rates of approximately 1.3% and 1.5%, respectively.

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Cash and Securities Segregated Under Federal Regulations and Other Requirements

6 Months Ended

Jun. 30, 2011

Cash and Securities Segregated Under Federal Regulations and Other Requirements [Abstract]

Cash and Securities Segregated Under Federal Regulations and Other Requirements

3. Cash and Securities Segregated Under Federal Regulations and Other Requirements

As of June 30, 2011 and December 31, 2010, $1.0 billion and $1.1 billion, respectively, of United States Treasury Bills were segregated in a special reserve bank custody account for the exclusive benefit of brokerage customers of SCB LLC under Rule 15c3-3 of the Securities Exchange Act of 1934, as amended (“Exchange Act”).

AllianceBernstein Investments, Inc. (“AllianceBernstein Investments”), a wholly-owned subsidiary of AllianceBernstein and the distributor of company-sponsored mutual funds, maintains several special bank accounts for the exclusive benefit of customers.  As of June 30, 2011 and December 31, 2010, $15.4 million and $25.3 million, respectively, of cash were segregated in these bank accounts.

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Cash and Securities Segregated Under Federal Regulations and Other Requirements (Details) (USD $)	Jun. 30, 2011	Dec. 31, 2010
Cash and Securities Segregated Under Federal Regulations and Other Requirements [Abstract]
United States Treasury Bills in special reserve bank custody account for exclusive benefit of brokerage customers of SCB LLC	$ 1,015,261,000	$ 1,109,891,000
Restricted funds held for benefit of customers by AllianceBernstein Investments, Inc.	$ 15,400,000	$ 25,300,000

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Qualified Employee Benefit Plans

6 Months Ended

Jun. 30, 2011

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Qualified Employee Benefit Plans

9. Qualified Employee Benefit Plans

We maintain a qualified profit sharing plan covering U.S. employees and certain foreign employees. Employer contributions are discretionary and generally limited to the maximum amount deductible for federal income tax purposes.

We maintain several defined contribution plans for foreign employees in our subsidiaries in the United Kingdom, Australia, Japan and other locations outside the United States. Employer contributions are generally consistent with regulatory requirements and tax limits. Defined contribution expense for foreign entities was $1.8 million during the three months ended June 30, 2011 and 2010 and $3.9 million and $3.6 million during the six months ended June 30, 2011 and 2010, respectively.

We maintain a qualified, noncontributory, defined benefit retirement plan (“Retirement Plan”) covering current and former employees who were employed by AllianceBernstein in the United States prior to October 2, 2000. Benefits are based on years of credited service, average final base salary (as defined in the Retirement Plan) and primary Social Security benefits. Service and compensation after December 31, 2008 are not taken into account in determining participants' retirement benefits.

Our policy is to satisfy our funding obligation for each year in an amount not less than the minimum required by ERISA and not greater than the maximum amount we can deduct for federal income tax purposes. Through July 2011, we have made no contributions to the Retirement Plan and currently intend to contribute $6.9 million to the Retirement Plan later this year. Contribution estimates, which are subject to change, are based on regulatory requirements, future market conditions and assumptions used for actuarial computations of the Retirement Plan's obligations and assets. Management, at the present time, has not determined the amount, if any, of additional future contributions that may be required.

Net (benefit) expense under the Retirement Plan consisted of:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(in thousands)
Interest cost on projected benefit obligations	$	1,180		$	1,139		$	2,360		$	2,278
Expected return on plan assets		(1,294	)		(1,129	)		(2,588	)		(2,258	)
Recognized actuarial loss		108			56			216			112
Amortization of transition asset		(36	)		(36	)		(72	)		(72	)
Net pension (benefit) charge	$	(42	)	$	30		$	(84	)	$	60

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Changes in Capital

6 Months Ended

Jun. 30, 2011

Changes in Capital [Abstract]

Changes in Capital

14. Changes in Capital

Changes in capital as of June 30, 2011 consisted of:

	Partners' Capital Attributable to AllianceBernstein Unitholders			Non-Controlling Interests In Consolidated Entities			Total Capital
	(in thousands)
Balance as of  December 31, 2010	$	4,368,634		$	124,517		$	4,493,151
Comprehensive income (loss):
Net income (loss)		250,611			(14,802	)		235,809
Other comprehensive income (loss), net of tax:
Unrealized gains on investments		494			33			527
Foreign currency translation adjustment		13,123			(320	)		12,803
Changes in employee benefit related items		66			-			66
Comprehensive income (loss)		264,294			(15,089	)		249,205
Cash distributions to General Partner and unitholders		(270,752	)		-			(270,752	)
Capital contributions (distributions)		1,797			(2,925	)		(1,128	)
Purchase of Australian joint venture		10,720			(32,104	)		(21,384	)
Purchase of AllianceBernstein Units		(4,297	)		-			(4,297	)
Compensation-related transactions		(15,435	)		-			(15,435	)
Balance as of June 30, 2011	$	4,354,961		$	74,399		$	4,429,360

Changes in capital as of June 30, 2010 consisted of:

	Partners' Capital Attributable to AllianceBernstein Unitholders			Non-Controlling Interests In Consolidated Entities			Total Capital
	(in thousands)
Balance as of  December 31, 2009	$	4,530,362		$	171,593		$	4,701,955
Comprehensive income (loss):
Net income (loss)		254,385			(26,112	)		228,273
Other comprehensive income (loss), net of tax:
Unrealized (losses) gains on investments		(1,137	)		235			(902	)
Foreign currency translation adjustment		(28,799	)		(1,166	)		(29,965	)
Changes in employee benefit related items		40			-			40
Comprehensive income (loss)		224,489			(27,043	)		197,446
Cash distributions to General Partner and unitholders		(341,862	)		-			(341,862	)
Capital contributions (distributions)		1,854			(992	)		862
Compensation-related transactions		(24,655	)		-			(24,655	)
Balance as of June 30, 2010	$	4,390,188		$	143,558		$	4,533,746

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Units Outstanding

6 Months Ended

Jun. 30, 2011

Units Outstanding [Abstract]

Units Outstanding

10. Units Outstanding

Changes in AllianceBernstein Units outstanding during the six-month period ended June 30, 2011 were as follows:

Outstanding as of December 31, 2010	278,115,232
Options exercised	86,543
Units issued	-
Units retired	(189,925	)
Units forfeited	-
Outstanding as of June 30, 2011	278,011,850

In accordance with the Holding Partnership Agreement, when Holding issues Holding Units to AllianceBernstein, Holding is required to use the proceeds it receives from AllianceBernstein to purchase the equivalent number of newly-issued AllianceBernstein Units. Holding Units issued pertain to Holding Units newly issued under the 2010 Plan and could include: (i) restricted Holding Unit awards to Eligible Directors, (ii) restricted Holding Unit awards to eligible employees, (iii) restricted Holding Unit awards for recruitment, and (iv) restricted Holding Unit issuances in connection with certain employee separation agreements.

During March and June 2011, we purchased 188,725 and 1,200 AllianceBernstein Units, respectively, in private transactions and retired them.

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Changes in Capital (Tables)

6 Months Ended

Jun. 30, 2011

Changes in Capital [Abstract]

Changes in Capital

Changes in capital as of June 30, 2011 consisted of:

	Partners' Capital Attributable to AllianceBernstein Unitholders			Non-Controlling Interests In Consolidated Entities			Total Capital
	(in thousands)
Balance as of  December 31, 2010	$	4,368,634		$	124,517		$	4,493,151
Comprehensive income (loss):
Net income (loss)		250,611			(14,802	)		235,809
Other comprehensive income (loss), net of tax:
Unrealized gains on investments		494			33			527
Foreign currency translation adjustment		13,123			(320	)		12,803
Changes in employee benefit related items		66			-			66
Comprehensive income (loss)		264,294			(15,089	)		249,205
Cash distributions to General Partner and unitholders		(270,752	)		-			(270,752	)
Capital contributions (distributions)		1,797			(2,925	)		(1,128	)
Purchase of Australian joint venture		10,720			(32,104	)		(21,384	)
Purchase of AllianceBernstein Units		(4,297	)		-			(4,297	)
Compensation-related transactions		(15,435	)		-			(15,435	)
Balance as of June 30, 2011	$	4,354,961		$	74,399		$	4,429,360

Changes in capital as of June 30, 2010 consisted of:

	Partners' Capital Attributable to AllianceBernstein Unitholders			Non-Controlling Interests In Consolidated Entities			Total Capital
	(in thousands)
Balance as of  December 31, 2009	$	4,530,362		$	171,593		$	4,701,955
Comprehensive income (loss):
Net income (loss)		254,385			(26,112	)		228,273
Other comprehensive income (loss), net of tax:
Unrealized (losses) gains on investments		(1,137	)		235			(902	)
Foreign currency translation adjustment		(28,799	)		(1,166	)		(29,965	)
Changes in employee benefit related items		40			-			40
Comprehensive income (loss)		224,489			(27,043	)		197,446
Cash distributions to General Partner and unitholders		(341,862	)		-			(341,862	)
Capital contributions (distributions)		1,854			(992	)		862
Compensation-related transactions		(24,655	)		-			(24,655	)
Balance as of June 30, 2010	$	4,390,188		$	143,558		$	4,533,746

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

8. Commitments and Contingencies

Legal Proceedings

On October 2, 2003, a purported class action complaint entitled Hindo, et al. v. AllianceBernstein Growth & Income Fund, et al. (“Hindo Complaint”) was filed against, among others, AllianceBernstein, Holding and the General Partner. The Hindo Complaint alleges that certain defendants failed to disclose that they improperly allowed certain hedge funds and other unidentified parties to engage in “late trading” and “market timing” of certain of our U.S. mutual fund securities, violating various securities laws.

Following October 2, 2003, additional lawsuits making factual allegations generally similar to those in the Hindo Complaint were filed in various federal and state courts against AllianceBernstein and certain other defendants. On September 29, 2004, plaintiffs filed consolidated amended complaints with respect to four claim types: mutual fund shareholder claims; mutual fund derivative claims; derivative claims brought on behalf of Holding; and claims brought under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) by participants in the Profit Sharing Plan for Employees of AllianceBernstein.

On April 21, 2006, AllianceBernstein and attorneys for the plaintiffs in the mutual fund shareholder claims, mutual fund derivative claims and ERISA claims entered into a confidential memorandum of understanding containing their agreement to settle these claims. The agreement was documented by a stipulation of settlement, which has been approved by the court. The settlement amount ($30 million), which we previously expensed and disclosed, has been disbursed.

The derivative claim, which was brought by Holding unitholders against the officers and directors of AllianceBernstein and in which plaintiffs sought an unspecified amount of damages, has been resolved pursuant to a stipulation of settlement with plaintiffs and the recovery of insurance proceeds totaling $23 million from relevant carriers.  The stipulation of settlement has been submitted to the court for final approval and, if approved by the court, will result in the settlement proceeds, after payment of plaintiffs' legal fees, being disbursed to AllianceBernstein.

We are involved in various other matters, including regulatory inquiries, administrative proceedings and litigation, some of which allege significant damages. While any inquiry, proceeding or litigation has the element of uncertainty, management believes that the outcome of any one of the other regulatory inquiries, administrative proceedings, lawsuits or claims that is pending or threatened, or all of them combined, will not have a material adverse effect on our results of operations or financial condition.

Other

During 2009, we entered into a subscription agreement under which we committed to invest up to $40 million in a venture capital fund over a six-year period. As of June 30, 2011, we had funded $12.8 million of this commitment.

Also during 2009, we were selected by the U.S. Treasury Department as one of nine pre-qualified investment managers under the Public-Private Investment Program. As part of the program, each investment manager is required to invest a minimum of $20 million in the Public-Private Investment Fund they manage. As of June 30, 2011, we had funded $18.0 million of this commitment.

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Business Description and Organization

6 Months Ended

Jun. 30, 2011

Business Description and Organization [Abstract]

Business Description and Organization

1. Business Description and Organization

We provide research, diversified investment management and related services globally to a broad range of clients. Our principal services include:

• Institutional Services – servicing our institutional clients, including unaffiliated corporate and public employee pension funds, endowment funds, domestic and foreign institutions and governments, and affiliates such as AXA and certain of its insurance company subsidiaries, by means of separately-managed accounts, sub-advisory relationships, structured products, collective investment trusts, mutual funds, hedge funds and other investment vehicles.

• Retail Services – servicing our retail clients, primarily by means of retail mutual funds sponsored by AllianceBernstein or an affiliated company, sub-advisory relationships with mutual funds sponsored by third parties, separately-managed account programs sponsored by financial intermediaries worldwide and other investment vehicles.

• Private Client Services – servicing our private clients, including high-net-worth individuals, trusts and estates, charitable foundations, partnerships, private and family corporations, and other entities, by means of separately-managed accounts, hedge funds, mutual funds and other investment vehicles.

• Bernstein Research Services – servicing institutional investors seeking high-quality research, portfolio analysis and brokerage-related services, and issuers of publicly-traded securities seeking equity capital markets services.

We also provide distribution, shareholder servicing and administrative services to the mutual funds we sponsor.

Our high-quality, in-depth research is the foundation of our business.  Our research disciplines include fundamental research, quantitative research, economic research and currency forecasting.  In addition, we have created several specialized research initiatives, including research examining global strategic changes that can affect multiple industries and geographies.

We provide a broad range of investment services with expertise in:

• Value equities, generally targeting stocks that are out of favor and considered undervalued;

• Growth equities, generally targeting stocks with under-appreciated growth potential;

• Fixed income securities, including taxable and tax-exempt securities;

• Blend strategies, combining style-pure investment components with systematic rebalancing;

• Passive management, including index and enhanced index strategies;

• Alternative investments, including hedge funds, fund of funds, currency management strategies and private capital (e.g., direct real estate investing); and

• Asset allocation services, by which we offer strategies specifically-tailored for our clients (e.g., customized target-date fund retirement services for defined contribution plan sponsors and Dynamic Asset Allocation, a service which is designed to mitigate the effects of extreme market volatility on a portfolio in order to deliver more consistent returns).

We provide these services using various investment disciplines, including market capitalization (e.g., large-, mid- and small-cap equities), term (e.g., long-, intermediate- and short-duration debt securities), and geographic location (e.g., U.S., international, global and emerging markets), as well as local and regional disciplines in major markets around the world.

We market and distribute alternative investment products globally to high-net-worth clients and institutional investors. In October 2010, we acquired SunAmerica's alternative investments group, a team that manages a portfolio of hedge fund and private equity fund investments. Additionally, in October 2010, we launched a real estate fund focused on opportunistic real estate investments. These initiatives have helped us expand our alternative investment capabilities.

In 2008, we created AllianceBernstein Defined Contribution Investments (“ABDC”), an initiative focused on expanding our capabilities in the defined contribution market. ABDC seeks to provide the most effective defined contribution investment solutions in the industry, as measured by product features, reliability, cost and flexibility, to meet specialized client needs by integrating research and investment design, product strategy, strategic partnerships (e.g., record-keeper partnerships and operations collaboration), and client implementation and service. In November 2010, we introduced Secure Retirement Strategies (“SRS”), a multi-manager target-date solution. SRS provides guaranteed lifetime retirement income backed by multiple insurers to participants of large defined contribution plans.

During 2009, we were selected by the U.S. Treasury Department as one of only three firms to manage its portfolio of assets issued by banks and other institutions taking part in the Capital Purchase Program of the Troubled Assets Relief Program. In addition, we were selected by the U.S. Treasury Department as one of nine pre-qualified fund managers under the Public-Private Investment Program and, during the fourth quarter of 2009, we were one of five firms that closed an initial Public-Private Investment Fund (“PPIF”) of at least $500 million. In April 2010, we closed our PPIF with over $1.1 billion raised.

As of June 30, 2011, AXA, a société anonyme organized under the laws of France and the holding company for an international group of insurance and related financial services companies, through certain of its subsidiaries (“AXA and its subsidiaries”) owned approximately 1.4% of the issued and outstanding units representing assignments of beneficial ownership of limited partnership interests in Holding (“Holding Units”).

As of June 30, 2011, the ownership structure of AllianceBernstein, expressed as a percentage of general and limited partnership interests, was as follows:

AXA and its subsidiaries	60.9	%
Holding	37.5
Unaffiliated holders	1.6
	100.0	%

AllianceBernstein Corporation (an indirect wholly-owned subsidiary of AXA, “General Partner”) is the general partner of both Holding and AllianceBernstein. AllianceBernstein Corporation owns 100,000 general partnership units in Holding and a 1% general partnership interest in AllianceBernstein. Including both the general partnership and limited partnership interests in Holding and AllianceBernstein, AXA and its subsidiaries had an approximate 62.4% economic interest in AllianceBernstein as of June 30, 2011.

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Net Income Per Unit

6 Months Ended

Jun. 30, 2011

Net Income Per Unit [Abstract]

Net Income Per Unit

4. Net Income Per Unit

Basic net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the total of the basic weighted average number of units outstanding and the dilutive unit equivalents resulting from outstanding compensatory options to buy Holding Units as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(in thousands, except per unit amounts)
Net income attributable to AllianceBernstein Unitholders	$	114,139	$	106,119	$	250,611	$	254,385
Weighted average units outstanding - basic		278,005		275,498		278,047		275,204
Dilutive effect of compensatory options to buy Holding Units		556		2,026		682		1,933
Weighted average units outstanding – diluted		278,561		277,524		278,729		277,137
Basic net income per AllianceBernstein Unit	$	0.41	$	0.38	$	0.89	$	0.92
Diluted net income per AllianceBernstein Unit	$	0.41	$	0.38	$	0.89	$	0.91

For the three months and six months ended June 30, 2011, we excluded 4,408,829 out-of-the-money options (i.e., options with an exercise price greater than the weighted average closing price of a unit for the relevant period), from the diluted net income per unit computation due to their anti-dilutive effect. For the three months and six months ended June 30, 2010, we excluded 5,048,345 out-of-the-money options from the diluted net income per unit computation due to their anti-dilutive effect.

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Commitments and Contingencies (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2011
Hindo, et al Complaint [Member]
Loss Contingencies [Line Items]
Date lawsuit was filed	October 2, 2003
Consolidated amended complaints filing date	September 29, 2004
Complaint claim types	4
Complaint settlement date	April 21, 2006
Settlement amount previously expensed, disclosed and disbursed	$30
Recovery of insurance proceeds pending settlement of Derivative claim	$23
Venture Capital Funds [Member]
Subscription agreement [Abstract]
Committed total required invest funding	40
Commitment time period duration to invest funds (in years)	6Y
Commitment agreement fundings	12.8
Public Private Investment Fund [Member]
Subscription agreement [Abstract]
Committed total required invest funding	20
Commitment agreement fundings	18.0

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Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2011

Comprehensive income (loss) [Abstract]

Comprehensive income

Comprehensive income consisted of:

	Three Months Ended June 30,					Six Months Ended June 30,
	2011		2010			2011		2010
	(in thousands)
Net income	$	107,383	$	96,780		$	235,809	$	228,273
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments		141		(1,260	)		527		(902	)
Foreign currency translation adjustment		6,674		(11,749	)		12,803		(29,965	)
Changes in retirement plan related items		107		20			66		40
Comprehensive income		114,305		83,791			249,205		197,446
Comprehensive loss in consolidated entities attributable to non-controlling interests		6,760		10,897			15,089		27,043
Comprehensive income attributable to AllianceBernstein Unitholders	$	121,065	$	94,688		$	264,294	$	224,489

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Investments

6 Months Ended

Jun. 30, 2011

Investments [Abstract]

Investments

5. Investments

Investments consist of:
	June 30, 2011		December 31, 2010
	(in thousands)
Available-for-sale	$	14,909	$	16,588
Trading:
Deferred compensation-related		209,260		239,787
United States Treasury Bills		37,994		52,975
Seed money		213,388		177,589
Other		72,458		35,259
Investments in limited partnership hedge funds:
Deferred compensation-related		43,269		58,918
Seed money/other		213,590		47,735
Consolidated private equity fund		81,594		101,360
Private equity		28,814		17,803
Other		7,706		8,541
Total investments	$	922,982	$	756,555

Total investments related to deferred compensation obligations of $252.5 million and $298.7 million as of June 30, 2011 and December 31, 2010, respectively, consist of company-sponsored mutual funds and limited partnership hedge funds. We typically made investments in our services that were notionally elected by deferred compensation plan participants and maintain them in a consolidated rabbi trust or separate custodial account. The rabbi trust and custodial account enable us to hold such investments separate from our other assets for the purpose of settling our obligations to participants. The investments held in the rabbi trust and custodial account remain available to the general creditors of AllianceBernstein.

The underlying investments of the limited partnership hedge funds in which we invest include long and short positions in equity securities, fixed income securities (including various agency and non-agency asset-based securities), currencies, commodities and derivatives (including various swaps and forward contracts). These investments are valued at quoted market prices or, where quoted market prices are not available, are fair valued based on the pricing policies and procedures of the Valuation Committee.

United States Treasury Bills are held by SCB LLC in their investment account, the majority of which are pledged as collateral with clearing organizations.

We provide seed money to our investment teams to develop new products and services for our clients.

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Units Outstanding (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Mar. 31, 2011	Jun. 30, 2011
Units Outstanding [Abstract]
Outstanding, Beginning of Period (in units)		278,115,232	278,115,232
Options exercised (in units)			86,543
Units issued (in units)			0
Units retired (in units)	1,200	188,725	(189,925)
Units forfeited (in units)			0
Outstanding Period End (in units)	278,011,850		278,011,850

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Fair Value (Tables)

6 Months Ended

Jun. 30, 2011

Fair Value [Abstract]

Fair Value Measures

The following tables summarize the valuation of our financial instruments by pricing observability levels as of June 30, 2011 and December 31, 2010:

	Level 1		Level 2		Level 3		Total
	(in thousands)
June 30, 2011:
Money markets	$	91,191	$	-	$	-	$	91,191
U.S. Treasury bills		-		1,037,887		-		1,037,887
U.K. Treasury bills		-		8,134		-		8,134
Equity securities
Growth		103,919		9		-		103,928
Value		80,382		-		-		80,382
Blend		111,555		-		-		111,555
Other(1)		65,956		5,158		-		71,114
Fixed Income securities
Taxable(2)		96,418		22,398		-		118,816
Tax-exempt(3)		15,002		638		-		15,640
Other		18		-		-		18
Derivatives		-		1,024		-		1,024
Long exchange-traded options		8,563		-		-		8,563
Private equity		31,069		4,205		59,524		94,798
Total assets measured at fair value	$	604,073	$	1,079,453	$	59,524	$	1,743,050
Securities sold not yet purchased
Short equities – corporate	$	21,749	$	-	$	-	$	21,749
Short exchange-traded options		10,208		-		-		10,208
Derivatives		2,099		2,221		-		4,320
Total liabilities measured at fair value	$	34,056	$	2,221	$	-	$	36,277

	Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2010:
Money markets	$	323,104	$	-	$	-	$	323,104
U.S. Treasury bills		-		1,137,578		-		1,137,578
U.K. Treasury bills		-		7,911		-		7,911
Equity securities
Growth		97,161		188		69		97,418
Value		73,579		-		-		73,579
Blend		93,590		-		-		93,590
Other(1)		28,868		5,051		-		33,919
Fixed Income securities
Taxable(2)		130,122		21,491		-		151,613
Tax-exempt(3)		9,310		750		-		10,060
Other		17		-		-		17
Derivatives		16		1,628		-		1,644
Long exchange-traded options		9,027		-		-		9,027
Private equity		24,432		23,811		59,345		107,588
Total assets measured at fair value	$	789,226	$	1,198,408	$	59,414	$	2,047,048
Securities sold not yet purchased
Short equities – corporate	$	42,914	$	-	$	-	$	42,914
Short exchange-traded options		7,622		-		-		7,622
Other		3		-		-		3
Derivatives		318		3,235		-		3,553
Total liabilities measured at fair value	$	50,857	$	3,235	$	-	$	54,092

(1) Primarily long positions in corporate equities traded through our options desk.

(2) Primarily corporate and government securities.

(3) Primarily municipal bonds.

Fair Value Measurement Level 3 Reconciliation

The following table summarizes the change in carrying value associated with Level 3 financial instruments carried at fair value:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(in thousands)
Balance as of beginning of period	$	60,188		$	102,256		$	59,414		$	98,559
Transfer (out) in, net		-			(82	)		(3,588	)		(163	)
Purchases		2,769			3,089			7,416			5,811
Sales		-			(4,497	)		(213	)		(4,872	)
Realized gains (losses), net		-			(2,481	)		(2,860	)		(2,429	)
Unrealized gains (losses), net		(3,433	)		4,436			(645	)		5,815
Balance as of end of period	$	59,524		$	102,721		$	59,524		$	102,721

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Business Description and Organization (Details) (USD $)	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Apr. 30, 2010	Dec. 31, 2009	Jun. 30, 2011	Dec. 31, 2009
Business Description and Organization [Abstract]
U.S. Treasury Department selected firms to manage portfolios of Capital Purchase Program of the Troubled Assets Relief Program				3
U.S. Treasury Department selected pre-qualified fund managers under the Public-Private Investment Program		9
Public-Private Investment Fund firms closing an initial amount of at least $500 million		5
Total initial funds raised by top five Public-Private Investment Fund firms, minimum amount		$ 500,000
Funds raised for Public-Private Investment Fund	$ 1,100,000
AXA and its Subsidiaries Ownership Interest in Holding Company (in hundredths)			1.40%
Schedule of Limited Partnership Ownership Interest By Partners [Line Items]
Limited Partners or Members Ownership Interest in Company (in hundredths)			100.00%
General partnership information [Abstract]
General Partnership number of general partnership units owned in Holding Company (in units)			100,000
General Partner's general partnership interest in Company (in hundredths)			1.00%
AXA and its subsidiaries economic interest in Company (in hundredths)			62.40%
AXA And Its Subsidiaries [Member]
Schedule of Limited Partnership Ownership Interest By Partners [Line Items]
Limited Partners or Members Ownership Interest in Company (in hundredths)			60.90%
Holdings [Member]
Schedule of Limited Partnership Ownership Interest By Partners [Line Items]
Limited Partners or Members Ownership Interest in Company (in hundredths)			37.50%
Unaffiliated Holders [Member]
Schedule of Limited Partnership Ownership Interest By Partners [Line Items]
Limited Partners or Members Ownership Interest in Company (in hundredths)			1.60%

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Qualified Employee Benefit Plans (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Defined contribution expense for foreign entities	$ 1,800,000	$ 1,800,000	$ 3,900,000	$ 3,600,000
Projected contribution to the Retirement Plan later this year	6,900,000		6,900,000
Interest cost on projected benefit obligations	1,180,000	1,139,000	2,360,000	2,278,000
Expected return on plan assets	(1,294,000)	(1,129,000)	(2,588,000)	(2,258,000)
Recognized actuarial loss	108,000	56,000	216,000	112,000
Amortization of transition asset	(36,000)	(36,000)	(72,000)	(72,000)
Net pension (benefit) charge	$ (42,000)	$ 30,000	$ (84,000)	$ 60,000

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Units Outstanding (Tables)

6 Months Ended

Jun. 30, 2011

Units Outstanding [Abstract]

Changes in Units Oustanding

Changes in AllianceBernstein Units outstanding during the six-month period ended June 30, 2011 were as follows:

Outstanding as of December 31, 2010	278,115,232
Options exercised	86,543
Units issued	-
Units retired	(189,925	)
Units forfeited	-
Outstanding as of June 30, 2011	278,011,850

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Comprehensive Income

6 Months Ended

Jun. 30, 2011

Comprehensive income (loss) [Abstract]

Comprehensive Income

13. Comprehensive Income

Comprehensive income consisted of:

	Three Months Ended June 30,					Six Months Ended June 30,
	2011		2010			2011		2010
	(in thousands)
Net income	$	107,383	$	96,780		$	235,809	$	228,273
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments		141		(1,260	)		527		(902	)
Foreign currency translation adjustment		6,674		(11,749	)		12,803		(29,965	)
Changes in retirement plan related items		107		20			66		40
Comprehensive income		114,305		83,791			249,205		197,446
Comprehensive loss in consolidated entities attributable to non-controlling interests		6,760		10,897			15,089		27,043
Comprehensive income attributable to AllianceBernstein Unitholders	$	121,065	$	94,688		$	264,294	$	224,489

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Derivative Instruments

6 Months Ended

Jun. 30, 2011

Derivative Instruments [Abstract]

Derivative Instruments

6. Derivative Instruments

We enter into various futures, forwards and swaps to economically hedge our seed money investments.  In addition, we have currency forwards that (i) represent seed money that our investment teams used to develop new products and services for our clients (the seed money was liquidated during the first quarter of 2011), (ii) economically hedge certain cash accounts, and (iii) economically hedge certain foreign investment advisory fees. We do not hold any derivatives designated in a formal hedge relationship under ASC 815-10, Derivatives and Hedging.

The following tables present the notional value and fair value as of June 30, 2011 and December 31, 2010 for derivative instruments not designated as hedging instruments:

	Notional Value		Asset Derivatives		Liability Derivatives
	(in thousands)
June 30, 2011:
Exchange-traded futures	$	78,518	$	-	$	2,099
Currency forwards		123,848		201		721
Interest rate swaps		56,660		318		389
Credit default swaps		45,315		448		343
Total return swaps		26,326		57		768
Total derivatives	$	330,667	$	1,024	$	4,320

	Notional Value		Asset Derivatives		Liability Derivatives
	(in thousands)
December 31, 2010:
Exchange-traded futures	$	16,973	$	16	$	318
Currency forwards		133,471		249		1,000
Interest rate swaps		43,210		1,197		239
Credit default swaps		74,915		182		1,036
Total return swaps		28,975		-		960
Total derivatives	$	297,544	$	1,644	$	3,553

The derivative assets and liabilities are included in both receivables and payables to brokers and dealers on our condensed consolidated statement of financial condition.

The following table presents the gains and losses recognized in investment gains (losses) in the condensed consolidated statements of income:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(in thousands)
Exchange-traded futures	$	431		$	1,120		$	(353	)	$	(180	)
Currency forwards		(355	)		(579	)		(203	)		(850	)
Interest rate swaps		(838	)		(2,028	)		(710	)		(2,409	)
Credit default swaps		(322	)		360			(204	)		202
Total return swaps		(749	)		936			(1,123	)		936
Balance as of end of period	$	(1,833	)	$	(191	)	$	(2,593	)	$	(2,301	)

We may be exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments.  We take steps to minimize our counterparty exposure through a credit review and approval process.  In addition, we executed various collateral arrangements with counterparties to the over-the-counter derivative transactions that require both pledging and accepting collateral in the form of cash.  As of June 30, 2011 and December 31, 2010, we held $3.5 million and $6.9 million, respectively, of cash collateral payable to trade counterparties.  This obligation to return cash is reported in payables to brokers and dealers in our condensed consolidated statements of financial condition.

Although notional amount is the most commonly used measure of volume in the derivative market, it is not used as a measure of credit risk.  Generally, the current credit exposure of our derivative contracts is limited to the net positive estimated fair value of derivative contracts at the reporting date after taking into consideration the existence of netting agreements and any collateral received.  A derivative with positive value (a derivative asset) indicates existence of credit risk because the counterparty would owe us if the contract were closed.  Alternatively, a derivative contract with negative value (a derivative liability) indicates we would owe money to the counterparty if the contract were closed.  Generally if there is more than one derivative transaction with a single counterparty, a master netting arrangement exists with respect to derivative transactions with that counterparty to provide for aggregate net settlement.

Certain of our standardized contracts for over-the-counter derivative transactions (“ISDA Master Agreements”) contain credit risk related contingent provisions related to the counterparties' credit rating.  In some ISDA Master Agreements, if the counterparties' credit rating (or in some agreements, our assets under management) falls below a specified threshold, either a default or a termination event permitting the counterparty to terminate the ISDA Master Agreement would be triggered.  In all agreements that provide for collateralization, various levels of collateralization of net liability positions are applicable, depending upon the credit rating of the counterparty.  As of June 30, 2011 and December 31, 2010, we delivered $10.0 million and $9.3 million, respectively, of cash collateral into brokerage accounts, which is reported in cash and cash equivalents in our condensed consolidated statements of financial condition.

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Accounting Pronouncements

6 Months Ended

Jun. 30, 2011

Accounting Pronouncements [Abstract]

Accounting Pronouncements

16. Accounting Pronouncements

In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-04, Fair Value Measurement.  The changes to the existing guidance include how and when the valuation premise of highest and best use applies, the application of premiums and discounts, as well as new required disclosures.  This standard is effective for interim and annual periods beginning after December 15, 2011 and is not expected to have a material impact on our consolidated financial statements.

In June 2011, the FASB issued ASU No. 2011-05, Presentation of Comprehensive Income.  This standard eliminates the current option to report other comprehensive income and its components in the statement of changes in equity.  An entity can elect to present items of net income and other comprehensive income in one continuous statement or in two separate, but consecutive statements.  This standard will not change the items that constitute net income and other comprehensive income, when an item of other comprehensive income must be reclassified to net income or the earnings per unit computation (which will continue to be based on net income).  ASU No. 2011-05 is effective for interim and annual periods beginning after December 15, 2011.

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Fair Value (Details) (USD $)	3 Months Ended																	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2011 Fair Value, Inputs, Level 1 [Member] Fair Value, Measurements, Recurring [Member]		Dec. 31, 2010 Fair Value, Inputs, Level 1 [Member] Fair Value, Measurements, Recurring [Member]		Jun. 30, 2011 Fair Value, Inputs, Level 2 [Member] Fair Value, Measurements, Recurring [Member]		Dec. 31, 2010 Fair Value, Inputs, Level 2 [Member] Fair Value, Measurements, Recurring [Member]		Jun. 30, 2011 Fair Value, Inputs, Level 3 [Member] Fair Value, Measurements, Recurring [Member]		Dec. 31, 2010 Fair Value, Inputs, Level 3 [Member] Fair Value, Measurements, Recurring [Member]		Jun. 30, 2011 Fair Value, Measurements, Recurring [Member]		Dec. 31, 2010 Fair Value, Measurements, Recurring [Member]		Jun. 30, 2011 Level 3 Fair Value Measurement Equity Investments [Member]	Jun. 30, 2010 Level 3 Fair Value Measurement Equity Investments [Member]	Jun. 30, 2011 Level 3 Fair Value Measurement Equity Investments [Member]	Jun. 30, 2010 Level 3 Fair Value Measurement Equity Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets		$ 91,191,000		$ 323,104,000		$ 0		$ 0		$ 0		$ 0		$ 91,191,000		$ 323,104,000
U.S. Treasury bills		0		0		1,037,887,000		1,137,578,000		0		0		1,037,887,000		1,137,578,000
U.K. Treasury bills		0		0		8,134,000		7,911,000		0		0		8,134,000		7,911,000
Equity Securities [Abstract]
Growth		103,919,000		97,161,000		9,000		188,000		0		69,000		103,928,000		97,418,000
Value		80,382,000		73,579,000		0		0		0		0		80,382,000		73,579,000
Blend		111,555,000		93,590,000		0				0		0		111,555,000		93,590,000
Other - Equity Securities		65,956,000	[1]	28,868,000	[1]	5,158,000	[1]	5,051,000	[1]	0	[1]	0	[1]	71,114,000	[1]	33,919,000	[1]
Fixed Income Securities [Abstract]
Taxable		96,418,000	[2]	130,122,000	[2]	22,398,000	[2]	21,491,000	[2]	0	[2]	0	[2]	118,816,000	[2]	151,613,000	[2]
Tax-exempt		15,002,000	[3]	9,310,000	[3]	638,000	[3]	750,000	[3]	0	[3]	0	[3]	15,640,000	[3]	10,060,000	[3]
Other - Fixed Income Securities		18,000		17,000		0		0		0		0		18,000		17,000
Derivatives		0		16,000		1,024,000		1,628,000		0		0		1,024,000		1,644,000
Long exchange-traded options		8,563,000		9,027,000		0		0		0		0		8,563,000		9,027,000
Private equity		31,069,000		24,432,000		4,205,000		23,811,000		59,524,000		59,345,000		94,798,000		107,588,000
Total assets measured at fair value		604,073,000		789,226,000		1,079,453,000		1,198,408,000		59,524,000		59,414,000		1,743,050,000		2,047,048,000
Short equities - corporate		21,749,000		42,914,000		0		0		0		0		21,749,000		42,914,000
Short exchange-traded options		10,208,000		7,622,000		0		0		0		0		10,208,000		7,622,000
Other - Securities sold not yet purchased		0		3,000		0		0		0		0		0		3,000
Derivatives - Liabilities		2,099,000		318,000		2,221,000		3,235,000		0		0		4,320,000		3,553,000
Total liabilities measured at fair value		34,056,000		50,857,000		2,221,000		3,235,000		0		0		36,277,000		54,092,000
Transfers out of Level 2	20,600,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance as of beginning of period																		60,188,000	102,256,000	59,414,000	98,559,000
Transfer (out) in, net																		0	(82,000)	(3,588,000)	(163,000)
Purchases																		2,769,000	3,089,000	7,416,000	5,811,000
Sales																		0	(4,497,000)	(213,000)	(4,872,000)
Realized gains (losses), net																		0	(2,481,000)	(2,860,000)	(2,429,000)
Unrealized gains (losses), net																		(3,433,000)	4,436,000	(645,000)	5,815,000
Balance as of end of period																		$ 59,524,000	$ 102,721,000	$ 59,524,000	$ 102,721,000
Level 3 investments in private equity investments owned by our consolidated venture capital fund, percentage (in hundredths)	10.00%
Level 3 investments in private equity investments owned by our consolidated venture capital fund, non-controlling interest percentage (in hundredths)	90.00%

[1] Primarily long positions in corporate equities traded through our options desk.

[2] Primarily corporate and government securities.

[3] Primarily municipal bonds.

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Qualified Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2011

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Net (benefit) expense under the Retirement Plan

Net (benefit) expense under the Retirement Plan consisted of:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(in thousands)
Interest cost on projected benefit obligations	$	1,180		$	1,139		$	2,360		$	2,278
Expected return on plan assets		(1,294	)		(1,129	)		(2,588	)		(2,258	)
Recognized actuarial loss		108			56			216			112
Amortization of transition asset		(36	)		(36	)		(72	)		(72	)
Net pension (benefit) charge	$	(42	)	$	30		$	(84	)	$	60

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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Cash flows from operating activities:
Net income	$ 235,809	$ 228,273
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Amortization of deferred sales commissions	20,197	24,268
Amortization of non-cash deferred compensation	83,917	53,225
Depreciation and other amortization	41,762	41,373
Unrealized (gains) losses on deferred compensation-related investments	(12,340)	12,980
Unrealized loss on consolidated venture capital fund	15,538	28,454
Real estate asset write-off charges	0	5,196
Other, net	4,426	7,815
Changes in assets and liabilities:
Decrease in segregated cash and securities	94,630	39,987
Decrease (increase) in receivables	78,665	(218,764)
(Increase) in investments	(172,864)	(20,676)
(Increase) in deferred sales commissions	(12,405)	(17,126)
(Increase) decrease in other assets	(23,032)	4,114
(Decrease) increase in payables	(386,548)	323,830
(Decrease) increase in accounts payable and accrued expenses	(1,774)	34,993
Increase in accrued compensation and benefits	78,146	122,853
Net cash provided by operating activities	44,127	670,795
Cash flows from investing activities:
Purchases of investments	(17)	(73)
Proceeds from sales of investments	2,481	194
Additions to furniture, equipment and leasehold improvements, net	(11,598)	(3,685)
Purchase of equity portfolio business	(5,500)	0
Purchase of Australian joint venture	(21,384)	0
Net cash used in investing activities	(36,018)	(3,564)
Cash flows from financing activities:
Issuance (repayment) of commercial paper, net	89,699	(170,155)
Proceeds from bank loans, net	15,000	0
(Decrease) in overdrafts payable	(13,652)	(55)
Distributions to General Partner and unitholders	(270,752)	(341,862)
Distributions to non-controlling interests in consolidated entities	(2,925)	(992)
Capital contributions from General Partner	1,797	1,854
Additional investment by Holding with proceeds from exercise of compensatory options to buy Holding Units	1,476	8,101
Purchases of Holding Units to fund deferred compensation plan awards, net	(100,828)	(85,982)
Purchases of AllianceBernstein Units	(4,297)	0
Debt issuance costs	(69)	0
Other	(35)	(25)
Net cash used in financing activities	(284,586)	(589,116)
Effect of exchange rate changes on cash and cash equivalents	9,581	(22,235)
Net (decrease) increase in cash and cash equivalents	(266,896)	55,880
Cash and cash equivalents as of beginning of the period	650,191	614,216
Cash and cash equivalents as of end of the period	$ 383,295	$ 670,096

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2011

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The interim condensed consolidated financial statements of AllianceBernstein included herein have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim results, have been made. The preparation of the condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The December 31, 2010 condensed consolidated statement of financial condition was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America.

Principles of Consolidation

Principles of Consolidation

The condensed consolidated financial statements include AllianceBernstein and its majority-owned and/or controlled subsidiaries. All significant inter-company transactions and balances among the consolidated entities have been eliminated.

Reclassifications

Reclassifications

The following prior period amounts have been reclassified to conform to the current year's presentation: (i) real estate asset write-off charges, previously included in other adjustments to reconcile net income to net cash provided by operating activities in the condensed consolidated statement of cash flow, is currently shown separately and (ii) Board of Director unit and option award amortization expense, previously included in employee compensation and benefits expense in the condensed consolidated statements of income, have been reclassified to general and administrative expense.

Cash Distributions

Cash Distributions

AllianceBernstein is required to distribute all of its Available Cash Flow, as defined in the Amended and Restated Agreement of Limited Partnership of AllianceBernstein (“AllianceBernstein Partnership Agreement”), to its unitholders and to the General Partner. Available Cash Flow can be summarized as the cash flow received by AllianceBernstein from operations minus such amounts as the General Partner determines, in its sole discretion, should be retained by AllianceBernstein for use in its business.

The General Partner computes cash flow received from operations by determining the sum of:

• net cash provided by operating activities of AllianceBernstein,

• proceeds from borrowings and from sales or other dispositions of assets in the ordinary course of business, and

• income from investments in marketable securities, liquid investments and other financial instruments that are acquired for investment purposes and that have a value that may be readily established,

and then subtracting from this amount the sum of:

• payments in respect of the principal of borrowings, and

• amounts expended for the purchase of assets in the ordinary course of business.

On July 29, 2011, the General Partner declared a distribution of $115.1 million, or $0.41 per AllianceBernstein Unit, representing a distribution of Available Cash Flow for the three months ended June 30, 2011. The General Partner, as a result of its 1% general partnership interest, is entitled to receive 1% of each distribution. The distribution is payable on August 18, 2011 to holders of record on August 8, 2011.

Fees Receivable, Net

Fees Receivable, Net

Fees receivable are shown net of allowances. An allowance for doubtful accounts related to investment advisory and services fees is determined through an analysis of the aging of receivables, assessments of collectibility based on historical trends and other qualitative and quantitative factors, including the following: our relationship with the client, the financial health (or ability to pay) of the client, current economic conditions and whether the account is closed or active. The allowance for doubtful accounts is not material to fees receivable.

Investments

Investments

Investments include United States Treasury Bills, unconsolidated mutual funds and limited partnership hedge funds we sponsor and manage, various separately-managed portfolios comprised of equity and fixed income securities, exchange-traded options and investments owned by a consolidated venture capital fund in which we own a controlling interest as the general partner and in which we hold a 10% limited partnership interest.

Investments in United States Treasury Bills, mutual funds, and equity and fixed income securities are classified as either trading or available-for-sale securities. Trading investments are stated at fair value with unrealized gains and losses reported in investment gains and losses on the condensed consolidated statements of income. Available-for-sale investments are stated at fair value with unrealized gains and losses reported as a separate component of accumulated other comprehensive income in partners' capital. Realized gains and losses on the sale of investments are reported in investment gains and losses on the condensed consolidated statements of income. Average cost is used to determine the realized gain or loss on investments sold.

We use the equity method of accounting for investments in limited partnership hedge funds. The equity in earnings of our limited partnership hedge fund investments is reported in investment gains and losses on the condensed consolidated statements of income.

The investments owned by our consolidated venture capital fund are generally illiquid and are initially valued at cost. These investments are adjusted to fair value to reflect the occurrence of “significant developments” (i.e., capital transactions or business, economic or market events). Adjustments to fair value are reported in investment gains and losses on the condensed consolidated statements of income. There are three private equity investments that we own directly outside of our consolidated venture capital fund.  Two of the investments are accounted for using the cost method; the third is accounted for at fair value.

See Note 7 for a description of how we measure the fair value of our investments.

Goodwill

Goodwill

In 2000, AllianceBernstein acquired the business and assets of SCB Inc., an investment research and management company formerly known as Sanford C. Bernstein Inc. (“Bernstein”), and assumed the liabilities of Bernstein (“Bernstein Transaction”). The purchase price consisted of a cash payment of approximately $1.5 billion and 40.8 million newly-issued AllianceBernstein Units. The Bernstein Transaction was accounted for under the purchase method and the cost of the acquisition was allocated on the basis of the estimated fair value of the assets acquired and the liabilities assumed. The excess of the purchase price over the fair value of identifiable assets acquired, net of liabilities assumed, resulted in the recognition of goodwill of approximately $3.0 billion.

As of June 30, 2011, goodwill of $2.9 billion on the condensed consolidated statement of financial condition is composed of $2.8 billion as a result of the Bernstein Transaction and $145 million in regard to various smaller acquisitions.

We test our goodwill annually, as of September 30, for impairment. The carrying value of goodwill is also reviewed if facts and circumstances, such as significant declines in assets under management, revenues, earnings or the Holding Unit price, occur, suggesting possible impairment. As of September 30, 2010, the impairment test indicated that goodwill was not impaired.

To the extent that securities valuations are depressed for prolonged periods of time or we experience significant net redemptions, our assets under management, revenues, profitability and unit price may be adversely affected.  As a result, subsequent impairment tests may be based upon different assumptions and future cash flow projections, which may result in an impairment of this asset. Any impairment could reduce materially the recorded amount of goodwill with a corresponding charge to our earnings.

Intangible Assets, Net

Intangible Assets, Net

Intangible assets consist primarily of costs assigned to acquired investment management contracts of SCB Inc. based on their estimated fair value at the time of acquisition, less accumulated amortization. As of June 30, 2011, intangible assets, net of accumulated amortization, of $199.9 million on the condensed consolidated statement of financial condition is composed of $197.4 million of definite-lived intangible assets subject to amortization, of which $191.5 million relates to the Bernstein Transaction, and $2.5 million of indefinite-lived intangible assets not subject to amortization in regard to a smaller acquisition. Intangible assets are recognized at fair value and are generally amortized on a straight-line basis over their estimated useful life of approximately 20 years. The gross carrying amount and accumulated amortization of intangible assets totaled $423.9 million and $224.0 million, respectively, as of June 30, 2011 and $419.2 million and $213.3 million, respectively, as of December 31, 2010. Amortization expense was $5.3 million and $5.4 million for the three months ended June 30, 2011 and 2010, respectively and $10.7 million and $10.8 million for the six months ended June 30, 2011 and 2010, respectively. Estimated annual amortization expense for each of the next five years is approximately $22 million.

We periodically review intangible assets for impairment as events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying value exceeds fair value, additional impairment tests are performed to measure the amount of the impairment loss, if any.

Deferred Sales Commissions, Net

Deferred Sales Commissions, Net

We pay commissions to financial intermediaries in connection with the sale of shares of open-end company-sponsored mutual funds sold without a front-end sales charge (“back-end load shares”). These commissions are capitalized as deferred sales commissions and amortized over periods not exceeding five and one-half years for U.S. fund shares and four years for non-U.S. fund shares, the periods of time during which deferred sales commissions are generally recovered. We recover these commissions from distribution services fees received from those funds and from contingent deferred sales commissions (“CDSC”) received from shareholders of those funds upon the redemption of their shares. CDSC cash recoveries are recorded as reductions of unamortized deferred sales commissions when received. Since January 31, 2009, our U.S. mutual funds have not offered back-end load shares to new investors.

We periodically review the deferred sales commission asset for impairment as events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying value exceeds fair value, additional impairment tests are performed to measure the amount of the impairment loss, if any.

Loss Contingencies

Loss Contingencies

With respect to all significant litigation matters, we consider the likelihood of a negative outcome.  If we determine the likelihood of a negative outcome is probable, and the amount of the loss can be reasonably estimated, we record an estimated loss for the expected outcome of the litigation. If the likelihood of a negative outcome is reasonably possible and we are able to determine an estimate of the possible loss or range of loss, we disclose that fact together with the estimate of the possible loss or range of loss. However, it is difficult to predict the outcome or estimate a possible loss or range of loss because litigation is subject to inherent uncertainties, particularly when plaintiffs allege substantial or indeterminate damages, or when the litigation is highly complex or broad in scope. In such cases, we disclose that we are unable to predict the outcome or estimate a possible loss or range of loss.

Revenue Recognition

Revenue Recognition

Investment advisory and services fees, generally calculated as a percentage of assets under management (“AUM”), are recorded as revenue as the related services are performed. Certain investment advisory contracts, including those associated with hedge funds or other alternative investments, provide for a performance-based fee, in addition to or in lieu of a base fee, which is calculated as either a percentage of absolute investment results or a percentage of investment results in excess of a stated benchmark over a specified period of time. Performance-based fees are recorded as a component of revenue at the end of each contract's measurement period.

We calculate AUM using established fair valuation methodologies, including market-based valuation methods and fair valuation methods. Market-based valuation methods include:  last sale/settle prices from an exchange for actively-traded listed equities, options and futures; evaluated bid prices from recognized pricing vendors for fixed income, asset-backed or mortgage-backed issues; mid prices from recognized pricing vendors and brokers for credit default swaps; and quoted bids or spreads from pricing vendors and brokers for other derivative products.  Fair valuation methods include discounted cash flow models, evaluation of assets versus liabilities or any other methodology that is validated and approved by our Valuation Committee. Fair valuation methods are used only where AUM cannot be valued using market-based valuation methods, such as in the case of private equity or illiquid securities. Investments utilizing fair valuation methods typically make up an insignificant amount of our total AUM.  Recent market volatility has not had a significant effect on our ability to acquire market data and, accordingly, our ability to use market-based valuation methods.

The Valuation Committee, which is composed of senior officers and employees, is responsible for overseeing the pricing and valuation of all investments held in client and AllianceBernstein portfolios.  The Valuation Committee has adopted a Statement of Pricing Policies describing principles and policies that apply to pricing and valuing investments held in these portfolios.  We have also established a Pricing Group, which reports to the Valuation Committee.  The Valuation Committee has delegated to the Pricing Group responsibility for overseeing the pricing process for all investments.

Bernstein Research Services revenue consists primarily of brokerage commissions received by Sanford C. Bernstein & Co., LLC (“SCB LLC”) and Sanford C. Bernstein Limited (“SCBL”), each a wholly-owned subsidiary of AllianceBernstein, for research and brokerage-related services provided to institutional investors. Brokerage commissions earned and related expenses are recorded on a trade-date basis. Bernstein Research Services also consists of underwriting fees, management fees, payments for research services and/or selling concessions from equity capital markets activities, which are recognized as the related services are performed.

Distribution revenues, shareholder servicing fees, and dividend and interest income are accrued as earned.

Deferred Compensation Plans

Deferred Compensation Plans

We maintain several unfunded, non-qualified deferred compensation plans under which annual awards to employees are generally made in the fourth quarter. For awards made before 2009, participants were permitted to allocate their awards: (i) among notional investments in Holding Units, certain of the investment services we provide to our clients and a money market fund, or (ii) under limited circumstances, to options to buy Holding Units. Awards in 2010 and 2009 consisted of restricted Holding Units and, under limited circumstances, deferred cash. We typically made investments in our services that were notionally elected by the participants and maintain them in a consolidated rabbi trust or separate custodial account. Awards generally vest over four years but can vest more quickly depending on the terms of the individual award, the age of the participant, or the terms of the participant's employment, separation or retirement agreement. Upon vesting, awards are distributed to participants unless they have made a voluntary long-term election to defer receipt. Quarterly cash distributions on unvested Holding Units or restricted Holding Units for which a long-term deferral election has not been made are paid currently to participants. For awards made prior to December 2009, quarterly cash distributions on notional investments in Holding Units and income credited on notional investments in our investment services or the money market fund for which a long-term deferral election has been made are reinvested and distributed as elected by participants. For awards made in December 2010 and 2009, quarterly cash distributions on vested and unvested restricted Holding Units for which a long-term deferral election has been made are paid currently to participants.

Compensation expense for awards under the plans, including changes in participant account balances resulting from gains and losses on related investments (other than in Holding Units and options to buy Holding Units), is recognized on a straight-line basis over the applicable vesting periods. Mark-to-market gains or losses on investments made to fund deferred compensation obligations (other than in Holding Units and options to buy Holding Units) are recognized currently as investment gains (losses) in the condensed consolidated statements of income. In addition, our equity in the earnings of investments in limited partnership hedge funds made to fund deferred compensation obligations is recognized currently as investment gains (losses) in the condensed consolidated statements of income.

Compensatory Unit Awards and Option Plans

Compensatory Unit Awards and Option Plans

We maintain compensation plans under which grants of restricted Holding Units and options to buy Holding Units have been granted to employees and eligible members of the Board of Directors (“Eligible Directors”) of the General Partner.

We recognize compensation expense related to equity compensation grants in the financial statements using the fair value method. Under the fair value method, compensation expense is measured at the grant date based on the estimated fair value of the award and is recognized ratably over the vesting period. Fair value of restricted Holding Unit awards is the closing price of a Holding Unit on the grant date; fair value of options is determined using the Black-Scholes option valuation model.

We fund our restricted Holding Unit awards to employees either by purchasing newly-issued Holding Units from Holding or purchasing Holding Units on the open market, all of which are held in a consolidated rabbi trust until they are distributed to employees upon vesting.  In accordance with the AllianceBernstein Partnership Agreement, when Holding issues Holding Units to AllianceBernstein, Holding is required to use the proceeds it receives from AllianceBernstein to purchase the equivalent number of newly-issued AllianceBernstein Units, thus increasing its percentage ownership interest in AllianceBernstein. Holding Units held in the consolidated rabbi trust are corporate assets in the name of the trust and are available to the general creditors of AllianceBernstein.

We engage in open-market purchases of Holding Units to help fund anticipated obligations under our incentive compensation award program and purchase Holding Units from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards. During the second quarter and first six months of 2011, we purchased approximately 2.5 million and 4.7 million Holding Units for $51.0 million and $100.8 million, respectively. These amounts reflect open-market purchases of 2.5 million and 4.6 million Holding Units for $51.3 million and $99.0 million, respectively, with the remainder relating to employee tax withholding purchases, offset by Holding Units purchased by employees as part of a dividend reinvestment election. We intend to continue to engage in open-market purchases of Holding Units, from time to time, to help fund anticipated obligations under our incentive compensation award program.

We granted approximately 1.6 million and 1.7 million restricted Holding Unit awards to employees during the second quarter and first six months of 2011, respectively, for retention and recruitment purposes. To fund these awards, we allocated previously repurchased Holding Units that had been held in the consolidated rabbi trust. There were approximately 4.0 million unallocated Holding Units remaining in the consolidated rabbi trust as of June 30, 2011.

New Holding Units are issued upon exercise of options.  Proceeds received by Holding upon exercise of options are used to acquire newly-issued AllianceBernstein Units, increasing Holding's percentage ownership interest in AllianceBernstein.

On July 26, 2010, the Amended and Restated 1997 Long Term Incentive Plan expired. Effective as of  July 1, 2010, we established the 2010 Long Term Incentive Plan (“2010 Plan”), which was adopted by Holding Unitholders at a special meeting held on June 30, 2010. Since the 2010 Plan was adopted, the following forms of awards have been available for grant to employees and Eligible Directors: (i) restricted Holding Units or phantom restricted Holding Units (a “phantom” award is a contractual right to receive Holding Units at a later date or upon a specified event); (ii) options to buy Holding Units; and (iii) other Holding Unit-based awards (including, without limitation, Holding Unit appreciation rights and performance awards).

The 2010 Plan will expire on June 30, 2020, and no awards under the 2010 Plan will be made after that date. Under the 2010 Plan, the number of newly-issued Holding Units with respect to which awards may be granted is 30 million. The 2010 Plan also permits us to award an additional 30 million Holding Units if we acquire the Holding Units on the open market or through private purchases.  As of June 30, 2011, we have granted 13.6 million Holding Unit awards, net of forfeitures, under the 2010 Plan. As of June 30, 2011, 27.0 million newly-issued Holding Units and 19.4 million repurchased Holding Units were available for grant.

Variable Interest Entities

Variable Interest Entities

In accordance with Accounting Standards Update (“ASU”) 2009-17, Consolidations (Topic 810) – Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities, the determination of whether a company is required to consolidate an entity is based on, among other things, an entity's purpose and design, a company's ability to direct the activities of the entity that most significantly impact the entity's economic performance, and whether a company is obligated to absorb losses or receive benefits that could potentially be significant to the entity.  The standard also requires ongoing assessments of whether a company is the primary beneficiary of a variable interest entity (“VIE”).  The provisions of this standard became effective January 1, 2010.  In January 2010, the FASB deferred portions of ASU 2009-17 that relate to asset managers. We determined that all entities for which we are a sponsor and/or investment manager, other than collateralized debt obligations and collateralized loan obligations (collectively “CDOs”), qualify for the scope deferral and will continue to be assessed for consolidation under prior accounting guidance for consolidation of variable interest entities.

As of June 30, 2011, we are the investment manager for seven CDOs that meet the definition of a VIE due primarily to the lack of unilateral decision making authority of the equity holders.  The CDOs are alternative investment vehicles created for the sole purpose of issuing collateralized debt instruments that offer investors the opportunity for returns that vary with the risk level of their investment.  Our management fee structure for these CDOs will typically include a senior management fee, and may also include subordinated and incentive management fees.  We hold no equity interest in any of these CDOs.  For each of the CDOs, we evaluated the management fee structure, the current and expected economic performance of the entities and other provisions included in the governing documents of the CDOs that might restrict or guarantee an expected loss or residual return.  In accordance with ASC 810, we concluded that our investment management contract does not represent a variable interest in five of the seven CDOs.  As such, we are not required to consolidate these entities.

For the two remaining CDOs, we concluded our collateral management agreement represented a variable interest primarily due to the level of subordinated fees.  We evaluated whether we possessed both of the following characteristics of a controlling financial interest: (1) the power to direct the activities of the VIE that most significantly impacts the entity's economic performance, and (2) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE.  In both instances, we determined that we possessed the decision-making power noted in criteria (1) above.

In evaluating criteria (2) above, we considered all facts regarding the design, terms and characteristics of the CDOs and concluded that we do not meet the criteria.  Our conclusion was based on the following quantitative and qualitative factors: (a) we have no involvement with the CDOs beyond providing investment management services, (b) we hold no equity or debt interests in the CDOs, (c) we are not a transferor of any of the assets of the CDOs, (d) our expected aggregate fees in future periods are insignificant relative to the expected cash flows of the CDOs, (e) the variability of our expected fees in relation to the expected cash flows of the CDOs is insignificant, (f) our maximum exposure to loss for these CDOs is our investment management fee, which is based upon the fair value of the CDOs' assets, (g) the CDOs have no recourse against us for any losses sustained in the CDO structure, (h) we have not provided, nor expect to provide, any financial or other support to the CDOs, and (i) there are no liquidity arrangements, guarantees and/or other commitments by third parties that would impact our variable interest in the CDOs.  As such, we do not have a controlling financial interest in either of the two CDOs and we should not consolidate the CDOs into our consolidated financial statements.

The cash, collateral investments (at fair value) and notes payable (at amortized cost) as of June 30, 2011 of these two unconsolidated CDOs are $22.0 million, $334.7 million and $343.5 million, respectively.

For the entities that meet FASB's scope deferral, management reviews its agreements quarterly and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the variable interest entities that the company is required to consolidate. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. We earn investment management fees on client assets under management of these entities, but we derive no other benefit from these assets and cannot use them in our operations.

As of June 30, 2011, we have significant variable interests in certain structured products and hedge funds with approximately $25.3 million in AUM. However, these variable interest entities do not require consolidation because management has determined that we are not the primary beneficiary of the expected losses or expected residual returns of these entities. Our maximum exposure to loss is limited to our aggregate investments of $0.1 million.

Real Estate Charges

Real Estate Charges

During 2010, we performed a comprehensive review of our real estate requirements in New York in connection with our workforce reductions that commenced in 2008. As a result, during 2010 we decided to sub-lease over 380,000 square feet in New York (approximately half of which has occurred) and largely consolidate our New York-based employees into two office locations from three. We recorded pre-tax real estate charges of $101.7 million in 2010 that reflected the net present value of the difference between the amount of our on-going contractual operating lease obligations for this space and our estimate of current market rental rates ($76.2 million), as well as the write-off of leasehold improvements, furniture and equipment related to this space ($25.5 million). We periodically review our assumptions and estimates used in recording this charge. During the first six months of 2011, no adjustments were made to the real estate liability.

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Debt (Details) (USD $)				6 Months Ended	12 Months Ended	6 Months Ended	12 Months Ended	6 Months Ended
	Jun. 30, 2011	Dec. 31, 2010	Dec. 09, 2010	Jun. 30, 2011 Commercial Paper [Member]	Dec. 31, 2010 Commercial Paper [Member]	Jun. 30, 2011 Line of Credit [Member]	Dec. 31, 2010 Line of Credit [Member]	Jun. 30, 2011 Line of Credit [Member] Subsidiaries [Member]	Dec. 09, 2010 Line of Credit [Member] Subsidiaries [Member]	Dec. 09, 2010 Line of Credit [Member] Parent Company [Member]
Short-term Debt [Line Items]
Short-term debt outstanding	$ 329,996,000	$ 224,991,000		$ 315,000,000	$ 225,000,000	$ 15,000,000	$ 0
Weighted average interest rates on short-term debt outstanding (in hundredths)				0.20%	0.30%	0.90%
Average daily borrowings				286,000,000	104,200,000	8,300,000	2,400,000
Weighted average interest rates on average daily borrowings (in hundredths)				0.20%	0.20%	1.30%	1.50%
Revolving credit facility description						On December 9, 2010, AllianceBernstein entered into a committed, unsecured three-year senior revolving credit facility the “2010 Credit Facility” with a group of commercial banks and other lenders in an original principal amount of 1.0 billion with SCB LLC as an additional borrower. The 2010 Credit Facility replaced AllianceBernstein's existing 1.95 billion of committed credit lines comprised of two separate lines – a 1.0 billion committed, unsecured revolving credit facility in the name of AllianceBernstein, which had a scheduled expiration date of February 17, 2011, and SCB LLC's 950 million committed, unsecured revolving credit facility, which had a scheduled expiration date of January 25, 2011, both of which were terminated upon the effectiveness of the 2010 Credit Facility. AllianceBernstein has agreed to guarantee the obligations of SCB LLC under the 2010 Credit Facility. The 2010 Credit Facility will be available for AllianceBernstein's and SCB LLC's business purposes, including the support of AllianceBernstein's 1.0 billion commercial paper program. Both AllianceBernstein and SCB LLC can draw directly under the 2010 Credit Facility and management expects to draw on the 2010 Credit Facility from time to time.		SCB LLC has five uncommitted lines of credit with four financial institutions. Two of these lines of credit permit us to borrow up to an aggregate of approximately 200.0 million while three lines have no stated limit.
Credit Facility original principal				1,000,000,000		1,000,000,000
Replaced committed lines of credit - Maximum			1,950,000,000						950,000,000	1,000,000,000
Credit Facility - Incremental increases in principal						250,000,000		200,000,000
Uncommitted lines of credit with financial institutions								5
Financial institutions with uncommitted lines of credit								4
Lines of credit with aggregate borrowing capacity								2
Lines of credit no stated limit								3
Line of credit facility						$ 200,000	$ 65,600,000
Weighted average interest rate (in hundredths)						1.30%	0.30%

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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2011

Summary of Significant Accounting Policies [Abstract]

Real Estate Liability Account Activity related to Workforce Reduction

The following table summarizes the activity in the liability account relating to this charge for the following periods:

	June 30, 2011			December 31, 2010
	(in thousands)
Balance as of January 1,	$	89,793		$	-
Expense incurred		-			76,177
Deferred rent		-			22,954
Payments made		(10,099	)		(9,814	)
Interest accretion		819			476
Balance as of end of period	$	80,513		$	89,793

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2011

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

The interim condensed consolidated financial statements of AllianceBernstein included herein have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim results, have been made. The preparation of the condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The December 31, 2010 condensed consolidated statement of financial condition was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America.

Principles of Consolidation

The condensed consolidated financial statements include AllianceBernstein and its majority-owned and/or controlled subsidiaries. All significant inter-company transactions and balances among the consolidated entities have been eliminated.

Reclassifications

The following prior period amounts have been reclassified to conform to the current year's presentation: (i) real estate asset write-off charges, previously included in other adjustments to reconcile net income to net cash provided by operating activities in the condensed consolidated statement of cash flow, is currently shown separately and (ii) Board of Director unit and option award amortization expense, previously included in employee compensation and benefits expense in the condensed consolidated statements of income, have been reclassified to general and administrative expense.

Cash Distributions

AllianceBernstein is required to distribute all of its Available Cash Flow, as defined in the Amended and Restated Agreement of Limited Partnership of AllianceBernstein (“AllianceBernstein Partnership Agreement”), to its unitholders and to the General Partner. Available Cash Flow can be summarized as the cash flow received by AllianceBernstein from operations minus such amounts as the General Partner determines, in its sole discretion, should be retained by AllianceBernstein for use in its business.

The General Partner computes cash flow received from operations by determining the sum of:

• net cash provided by operating activities of AllianceBernstein,

• proceeds from borrowings and from sales or other dispositions of assets in the ordinary course of business, and

• income from investments in marketable securities, liquid investments and other financial instruments that are acquired for investment purposes and that have a value that may be readily established,

and then subtracting from this amount the sum of:

• payments in respect of the principal of borrowings, and

• amounts expended for the purchase of assets in the ordinary course of business.

On July 29, 2011, the General Partner declared a distribution of $115.1 million, or $0.41 per AllianceBernstein Unit, representing a distribution of Available Cash Flow for the three months ended June 30, 2011. The General Partner, as a result of its 1% general partnership interest, is entitled to receive 1% of each distribution. The distribution is payable on August 18, 2011 to holders of record on August 8, 2011.

Fees Receivable, Net

Fees receivable are shown net of allowances. An allowance for doubtful accounts related to investment advisory and services fees is determined through an analysis of the aging of receivables, assessments of collectibility based on historical trends and other qualitative and quantitative factors, including the following: our relationship with the client, the financial health (or ability to pay) of the client, current economic conditions and whether the account is closed or active. The allowance for doubtful accounts is not material to fees receivable.

Investments

Investments include United States Treasury Bills, unconsolidated mutual funds and limited partnership hedge funds we sponsor and manage, various separately-managed portfolios comprised of equity and fixed income securities, exchange-traded options and investments owned by a consolidated venture capital fund in which we own a controlling interest as the general partner and in which we hold a 10% limited partnership interest.

Investments in United States Treasury Bills, mutual funds, and equity and fixed income securities are classified as either trading or available-for-sale securities. Trading investments are stated at fair value with unrealized gains and losses reported in investment gains and losses on the condensed consolidated statements of income. Available-for-sale investments are stated at fair value with unrealized gains and losses reported as a separate component of accumulated other comprehensive income in partners' capital. Realized gains and losses on the sale of investments are reported in investment gains and losses on the condensed consolidated statements of income. Average cost is used to determine the realized gain or loss on investments sold.

We use the equity method of accounting for investments in limited partnership hedge funds. The equity in earnings of our limited partnership hedge fund investments is reported in investment gains and losses on the condensed consolidated statements of income.

The investments owned by our consolidated venture capital fund are generally illiquid and are initially valued at cost. These investments are adjusted to fair value to reflect the occurrence of “significant developments” (i.e., capital transactions or business, economic or market events). Adjustments to fair value are reported in investment gains and losses on the condensed consolidated statements of income. There are three private equity investments that we own directly outside of our consolidated venture capital fund.  Two of the investments are accounted for using the cost method; the third is accounted for at fair value.

See Note 7 for a description of how we measure the fair value of our investments.

Goodwill

In 2000, AllianceBernstein acquired the business and assets of SCB Inc., an investment research and management company formerly known as Sanford C. Bernstein Inc. (“Bernstein”), and assumed the liabilities of Bernstein (“Bernstein Transaction”). The purchase price consisted of a cash payment of approximately $1.5 billion and 40.8 million newly-issued AllianceBernstein Units. The Bernstein Transaction was accounted for under the purchase method and the cost of the acquisition was allocated on the basis of the estimated fair value of the assets acquired and the liabilities assumed. The excess of the purchase price over the fair value of identifiable assets acquired, net of liabilities assumed, resulted in the recognition of goodwill of approximately $3.0 billion.

As of June 30, 2011, goodwill of $2.9 billion on the condensed consolidated statement of financial condition is composed of $2.8 billion as a result of the Bernstein Transaction and $145 million in regard to various smaller acquisitions.

We test our goodwill annually, as of September 30, for impairment. The carrying value of goodwill is also reviewed if facts and circumstances, such as significant declines in assets under management, revenues, earnings or the Holding Unit price, occur, suggesting possible impairment. As of September 30, 2010, the impairment test indicated that goodwill was not impaired.

To the extent that securities valuations are depressed for prolonged periods of time or we experience significant net redemptions, our assets under management, revenues, profitability and unit price may be adversely affected.  As a result, subsequent impairment tests may be based upon different assumptions and future cash flow projections, which may result in an impairment of this asset. Any impairment could reduce materially the recorded amount of goodwill with a corresponding charge to our earnings.

Intangible Assets, Net

Intangible assets consist primarily of costs assigned to acquired investment management contracts of SCB Inc. based on their estimated fair value at the time of acquisition, less accumulated amortization. As of June 30, 2011, intangible assets, net of accumulated amortization, of $199.9 million on the condensed consolidated statement of financial condition is composed of $197.4 million of definite-lived intangible assets subject to amortization, of which $191.5 million relates to the Bernstein Transaction, and $2.5 million of indefinite-lived intangible assets not subject to amortization in regard to a smaller acquisition. Intangible assets are recognized at fair value and are generally amortized on a straight-line basis over their estimated useful life of approximately 20 years. The gross carrying amount and accumulated amortization of intangible assets totaled $423.9 million and $224.0 million, respectively, as of June 30, 2011 and $419.2 million and $213.3 million, respectively, as of December 31, 2010. Amortization expense was $5.3 million and $5.4 million for the three months ended June 30, 2011 and 2010, respectively and $10.7 million and $10.8 million for the six months ended June 30, 2011 and 2010, respectively. Estimated annual amortization expense for each of the next five years is approximately $22 million.

We periodically review intangible assets for impairment as events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying value exceeds fair value, additional impairment tests are performed to measure the amount of the impairment loss, if any.

Deferred Sales Commissions, Net

We pay commissions to financial intermediaries in connection with the sale of shares of open-end company-sponsored mutual funds sold without a front-end sales charge (“back-end load shares”). These commissions are capitalized as deferred sales commissions and amortized over periods not exceeding five and one-half years for U.S. fund shares and four years for non-U.S. fund shares, the periods of time during which deferred sales commissions are generally recovered. We recover these commissions from distribution services fees received from those funds and from contingent deferred sales commissions (“CDSC”) received from shareholders of those funds upon the redemption of their shares. CDSC cash recoveries are recorded as reductions of unamortized deferred sales commissions when received. Since January 31, 2009, our U.S. mutual funds have not offered back-end load shares to new investors.

We periodically review the deferred sales commission asset for impairment as events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying value exceeds fair value, additional impairment tests are performed to measure the amount of the impairment loss, if any.

Loss Contingencies

With respect to all significant litigation matters, we consider the likelihood of a negative outcome.  If we determine the likelihood of a negative outcome is probable, and the amount of the loss can be reasonably estimated, we record an estimated loss for the expected outcome of the litigation. If the likelihood of a negative outcome is reasonably possible and we are able to determine an estimate of the possible loss or range of loss, we disclose that fact together with the estimate of the possible loss or range of loss. However, it is difficult to predict the outcome or estimate a possible loss or range of loss because litigation is subject to inherent uncertainties, particularly when plaintiffs allege substantial or indeterminate damages, or when the litigation is highly complex or broad in scope. In such cases, we disclose that we are unable to predict the outcome or estimate a possible loss or range of loss.

Revenue Recognition

Investment advisory and services fees, generally calculated as a percentage of assets under management (“AUM”), are recorded as revenue as the related services are performed. Certain investment advisory contracts, including those associated with hedge funds or other alternative investments, provide for a performance-based fee, in addition to or in lieu of a base fee, which is calculated as either a percentage of absolute investment results or a percentage of investment results in excess of a stated benchmark over a specified period of time. Performance-based fees are recorded as a component of revenue at the end of each contract's measurement period.

We calculate AUM using established fair valuation methodologies, including market-based valuation methods and fair valuation methods. Market-based valuation methods include:  last sale/settle prices from an exchange for actively-traded listed equities, options and futures; evaluated bid prices from recognized pricing vendors for fixed income, asset-backed or mortgage-backed issues; mid prices from recognized pricing vendors and brokers for credit default swaps; and quoted bids or spreads from pricing vendors and brokers for other derivative products.  Fair valuation methods include discounted cash flow models, evaluation of assets versus liabilities or any other methodology that is validated and approved by our Valuation Committee. Fair valuation methods are used only where AUM cannot be valued using market-based valuation methods, such as in the case of private equity or illiquid securities. Investments utilizing fair valuation methods typically make up an insignificant amount of our total AUM.  Recent market volatility has not had a significant effect on our ability to acquire market data and, accordingly, our ability to use market-based valuation methods.

The Valuation Committee, which is composed of senior officers and employees, is responsible for overseeing the pricing and valuation of all investments held in client and AllianceBernstein portfolios.  The Valuation Committee has adopted a Statement of Pricing Policies describing principles and policies that apply to pricing and valuing investments held in these portfolios.  We have also established a Pricing Group, which reports to the Valuation Committee.  The Valuation Committee has delegated to the Pricing Group responsibility for overseeing the pricing process for all investments.

Bernstein Research Services revenue consists primarily of brokerage commissions received by Sanford C. Bernstein & Co., LLC (“SCB LLC”) and Sanford C. Bernstein Limited (“SCBL”), each a wholly-owned subsidiary of AllianceBernstein, for research and brokerage-related services provided to institutional investors. Brokerage commissions earned and related expenses are recorded on a trade-date basis. Bernstein Research Services also consists of underwriting fees, management fees, payments for research services and/or selling concessions from equity capital markets activities, which are recognized as the related services are performed.

Distribution revenues, shareholder servicing fees, and dividend and interest income are accrued as earned.

Deferred Compensation Plans

We maintain several unfunded, non-qualified deferred compensation plans under which annual awards to employees are generally made in the fourth quarter. For awards made before 2009, participants were permitted to allocate their awards: (i) among notional investments in Holding Units, certain of the investment services we provide to our clients and a money market fund, or (ii) under limited circumstances, to options to buy Holding Units. Awards in 2010 and 2009 consisted of restricted Holding Units and, under limited circumstances, deferred cash. We typically made investments in our services that were notionally elected by the participants and maintain them in a consolidated rabbi trust or separate custodial account. Awards generally vest over four years but can vest more quickly depending on the terms of the individual award, the age of the participant, or the terms of the participant's employment, separation or retirement agreement. Upon vesting, awards are distributed to participants unless they have made a voluntary long-term election to defer receipt. Quarterly cash distributions on unvested Holding Units or restricted Holding Units for which a long-term deferral election has not been made are paid currently to participants. For awards made prior to December 2009, quarterly cash distributions on notional investments in Holding Units and income credited on notional investments in our investment services or the money market fund for which a long-term deferral election has been made are reinvested and distributed as elected by participants. For awards made in December 2010 and 2009, quarterly cash distributions on vested and unvested restricted Holding Units for which a long-term deferral election has been made are paid currently to participants.

Compensation expense for awards under the plans, including changes in participant account balances resulting from gains and losses on related investments (other than in Holding Units and options to buy Holding Units), is recognized on a straight-line basis over the applicable vesting periods. Mark-to-market gains or losses on investments made to fund deferred compensation obligations (other than in Holding Units and options to buy Holding Units) are recognized currently as investment gains (losses) in the condensed consolidated statements of income. In addition, our equity in the earnings of investments in limited partnership hedge funds made to fund deferred compensation obligations is recognized currently as investment gains (losses) in the condensed consolidated statements of income.

Compensatory Unit Awards and Option Plans

We maintain compensation plans under which grants of restricted Holding Units and options to buy Holding Units have been granted to employees and eligible members of the Board of Directors (“Eligible Directors”) of the General Partner.

We recognize compensation expense related to equity compensation grants in the financial statements using the fair value method. Under the fair value method, compensation expense is measured at the grant date based on the estimated fair value of the award and is recognized ratably over the vesting period. Fair value of restricted Holding Unit awards is the closing price of a Holding Unit on the grant date; fair value of options is determined using the Black-Scholes option valuation model.

We fund our restricted Holding Unit awards to employees either by purchasing newly-issued Holding Units from Holding or purchasing Holding Units on the open market, all of which are held in a consolidated rabbi trust until they are distributed to employees upon vesting.  In accordance with the AllianceBernstein Partnership Agreement, when Holding issues Holding Units to AllianceBernstein, Holding is required to use the proceeds it receives from AllianceBernstein to purchase the equivalent number of newly-issued AllianceBernstein Units, thus increasing its percentage ownership interest in AllianceBernstein. Holding Units held in the consolidated rabbi trust are corporate assets in the name of the trust and are available to the general creditors of AllianceBernstein.

We engage in open-market purchases of Holding Units to help fund anticipated obligations under our incentive compensation award program and purchase Holding Units from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards. During the second quarter and first six months of 2011, we purchased approximately 2.5 million and 4.7 million Holding Units for $51.0 million and $100.8 million, respectively. These amounts reflect open-market purchases of 2.5 million and 4.6 million Holding Units for $51.3 million and $99.0 million, respectively, with the remainder relating to employee tax withholding purchases, offset by Holding Units purchased by employees as part of a dividend reinvestment election. We intend to continue to engage in open-market purchases of Holding Units, from time to time, to help fund anticipated obligations under our incentive compensation award program.

We granted approximately 1.6 million and 1.7 million restricted Holding Unit awards to employees during the second quarter and first six months of 2011, respectively, for retention and recruitment purposes. To fund these awards, we allocated previously repurchased Holding Units that had been held in the consolidated rabbi trust. There were approximately 4.0 million unallocated Holding Units remaining in the consolidated rabbi trust as of June 30, 2011.

New Holding Units are issued upon exercise of options.  Proceeds received by Holding upon exercise of options are used to acquire newly-issued AllianceBernstein Units, increasing Holding's percentage ownership interest in AllianceBernstein.

On July 26, 2010, the Amended and Restated 1997 Long Term Incentive Plan expired. Effective as of  July 1, 2010, we established the 2010 Long Term Incentive Plan (“2010 Plan”), which was adopted by Holding Unitholders at a special meeting held on June 30, 2010. Since the 2010 Plan was adopted, the following forms of awards have been available for grant to employees and Eligible Directors: (i) restricted Holding Units or phantom restricted Holding Units (a “phantom” award is a contractual right to receive Holding Units at a later date or upon a specified event); (ii) options to buy Holding Units; and (iii) other Holding Unit-based awards (including, without limitation, Holding Unit appreciation rights and performance awards).

The 2010 Plan will expire on June 30, 2020, and no awards under the 2010 Plan will be made after that date. Under the 2010 Plan, the number of newly-issued Holding Units with respect to which awards may be granted is 30 million. The 2010 Plan also permits us to award an additional 30 million Holding Units if we acquire the Holding Units on the open market or through private purchases.  As of June 30, 2011, we have granted 13.6 million Holding Unit awards, net of forfeitures, under the 2010 Plan. As of June 30, 2011, 27.0 million newly-issued Holding Units and 19.4 million repurchased Holding Units were available for grant.

Variable Interest Entities

In accordance with Accounting Standards Update (“ASU”) 2009-17, Consolidations (Topic 810) – Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities, the determination of whether a company is required to consolidate an entity is based on, among other things, an entity's purpose and design, a company's ability to direct the activities of the entity that most significantly impact the entity's economic performance, and whether a company is obligated to absorb losses or receive benefits that could potentially be significant to the entity.  The standard also requires ongoing assessments of whether a company is the primary beneficiary of a variable interest entity (“VIE”).  The provisions of this standard became effective January 1, 2010.  In January 2010, the FASB deferred portions of ASU 2009-17 that relate to asset managers. We determined that all entities for which we are a sponsor and/or investment manager, other than collateralized debt obligations and collateralized loan obligations (collectively “CDOs”), qualify for the scope deferral and will continue to be assessed for consolidation under prior accounting guidance for consolidation of variable interest entities.

As of June 30, 2011, we are the investment manager for seven CDOs that meet the definition of a VIE due primarily to the lack of unilateral decision making authority of the equity holders.  The CDOs are alternative investment vehicles created for the sole purpose of issuing collateralized debt instruments that offer investors the opportunity for returns that vary with the risk level of their investment.  Our management fee structure for these CDOs will typically include a senior management fee, and may also include subordinated and incentive management fees.  We hold no equity interest in any of these CDOs.  For each of the CDOs, we evaluated the management fee structure, the current and expected economic performance of the entities and other provisions included in the governing documents of the CDOs that might restrict or guarantee an expected loss or residual return.  In accordance with ASC 810, we concluded that our investment management contract does not represent a variable interest in five of the seven CDOs.  As such, we are not required to consolidate these entities.

For the two remaining CDOs, we concluded our collateral management agreement represented a variable interest primarily due to the level of subordinated fees.  We evaluated whether we possessed both of the following characteristics of a controlling financial interest: (1) the power to direct the activities of the VIE that most significantly impacts the entity's economic performance, and (2) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE.  In both instances, we determined that we possessed the decision-making power noted in criteria (1) above.

In evaluating criteria (2) above, we considered all facts regarding the design, terms and characteristics of the CDOs and concluded that we do not meet the criteria.  Our conclusion was based on the following quantitative and qualitative factors: (a) we have no involvement with the CDOs beyond providing investment management services, (b) we hold no equity or debt interests in the CDOs, (c) we are not a transferor of any of the assets of the CDOs, (d) our expected aggregate fees in future periods are insignificant relative to the expected cash flows of the CDOs, (e) the variability of our expected fees in relation to the expected cash flows of the CDOs is insignificant, (f) our maximum exposure to loss for these CDOs is our investment management fee, which is based upon the fair value of the CDOs' assets, (g) the CDOs have no recourse against us for any losses sustained in the CDO structure, (h) we have not provided, nor expect to provide, any financial or other support to the CDOs, and (i) there are no liquidity arrangements, guarantees and/or other commitments by third parties that would impact our variable interest in the CDOs.  As such, we do not have a controlling financial interest in either of the two CDOs and we should not consolidate the CDOs into our consolidated financial statements.

The cash, collateral investments (at fair value) and notes payable (at amortized cost) as of June 30, 2011 of these two unconsolidated CDOs are $22.0 million, $334.7 million and $343.5 million, respectively.

For the entities that meet FASB's scope deferral, management reviews its agreements quarterly and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the variable interest entities that the company is required to consolidate. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. We earn investment management fees on client assets under management of these entities, but we derive no other benefit from these assets and cannot use them in our operations.

As of June 30, 2011, we have significant variable interests in certain structured products and hedge funds with approximately $25.3 million in AUM. However, these variable interest entities do not require consolidation because management has determined that we are not the primary beneficiary of the expected losses or expected residual returns of these entities. Our maximum exposure to loss is limited to our aggregate investments of $0.1 million.

Real Estate Charges

During 2010, we performed a comprehensive review of our real estate requirements in New York in connection with our workforce reductions that commenced in 2008. As a result, during 2010 we decided to sub-lease over 380,000 square feet in New York (approximately half of which has occurred) and largely consolidate our New York-based employees into two office locations from three. We recorded pre-tax real estate charges of $101.7 million in 2010 that reflected the net present value of the difference between the amount of our on-going contractual operating lease obligations for this space and our estimate of current market rental rates ($76.2 million), as well as the write-off of leasehold improvements, furniture and equipment related to this space ($25.5 million). We periodically review our assumptions and estimates used in recording this charge. During the first six months of 2011, no adjustments were made to the real estate liability. The following table summarizes the activity in the liability account relating to this charge for the following periods:

	June 30, 2011			December 31, 2010
	(in thousands)
Balance as of January 1,	$	89,793		$	-
Expense incurred		-			76,177
Deferred rent		-			22,954
Payments made		(10,099	)		(9,814	)
Interest accretion		819			476
Balance as of end of period	$	80,513		$	89,793

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Income Taxes

6 Months Ended

Jun. 30, 2011

Income Taxes [Abstract]

Income Taxes

11. Income Taxes

AllianceBernstein is a private partnership for federal income tax purposes and, accordingly, is not subject to federal or state corporate income taxes. However, AllianceBernstein is subject to the 4.0% New York City unincorporated business tax (“UBT”). Domestic corporate subsidiaries of AllianceBernstein, which are subject to federal, state and local income taxes, are generally included in the filing of a consolidated federal income tax return with separate state and local income tax returns being filed. Foreign corporate subsidiaries are generally subject to taxes in the foreign jurisdictions where they are located.

In order to preserve AllianceBernstein's status as a private partnership for federal income tax purposes, AllianceBernstein Units must not be considered publicly traded. The AllianceBernstein Partnership Agreement provides that all transfers of AllianceBernstein Units must be approved by AXA Equitable and the General Partner; AXA Equitable and the General Partner approve only those transfers permitted pursuant to one or more of the safe harbors contained in relevant treasury regulations. If AllianceBernstein Units were considered readily tradable, AllianceBernstein's net income would be subject to federal and state corporate income tax. Furthermore, should AllianceBernstein enter into a substantial new line of business, Holding, by virtue of its ownership of AllianceBernstein, would lose its status as a “grandfathered” publicly-traded partnership and would become subject to corporate income tax, which would reduce materially Holding's net income and its quarterly distributions to Holding Unitholders.

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Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010	Dec. 31, 2010
Cash Distributions [Abstract]
Subsequent Cash Distribution, Declaration Date	July 29, 2011
Subsequent Cash Distribution, Amount	$ 115,100,000
Subsequent Cash Distribution, Distribution Declared (in dollars per unit)	$ 0.41
General Partner partnership interest (in hundredths)	1.00%		1.00%
Subsequent Cash Distribution, Distribution Date	August 18, 2011
Subsequent Cash Distribution, Date of Record	August 8, 2011
Investments [Abstract]
Limited Partnership Interest in Venture Capital Fund (in hundredths)			10.00%
Private equity investments owned outside of consolidated venture capital fund			3
Private equity investments owned outside consolidated venture capital fund accounted for using cost method			2
Goodwill on Consolidated Balance Sheet [Abstract]
Goodwill	2,944,840,000		2,944,840,000		2,939,170,000
Intangible Assets, Net [Abstract]
Intangible assets, net accumulated amoritzation	199,892,000		199,892,000		205,862,000
Definite-lived Intangible Assets Subject to Amortization, Net	197,400,000		197,400,000
Indefinite-lived Intangible Assets Not Subject to Amortization	2,500,000		2,500,000
Intangible Assets Acquired, Estimated Useful Life (in years)			20
Gross Carrying Amount of Intangible Assets	423,900,000		423,900,000		419,200,000
Accumulated Amortization of Intangible Assets	224,000,000		224,000,000		213,300,000
Amortization Expense on Intangible Assets	5,300,000	5,400,000	10,700,000	10,800,000
Estimated Future Amortization Expense over next five years			22,000,000
Compensatory Unit Awards and Option Plans [Abstract]
Holding Units Purchased in Period (in units)	2,500,000		4,700,000
Dollar Amount Paid For Holding Units Acquired	51,000,000		100,800,000
Open-market purchases of Holding Units (in units)	2,500,000		4,600,000
Dollar Amount Paid for Open-Market Purchases of Holding Units	51,300,000		99,000,000
Restricted Holding Unit Awards to Employees (in units)	1,600,000		1,700,000
Unallocated Holding Units Remaining in Rabbi Trust (in units)	4,000,000		4,000,000
Variable Interest Entities [Abstract]
Variable Interest Entity, Nonconsolidated, Carry Amount Cash	22,000,000		22,000,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Collateral Investment	334,700,000		334,700,000
Variable Interest Entity, Nonconsolidated, Carrying Amount, Notes payable	343,500,000		343,500,000
Variable Interest Entity, Nonconsolidated, Assets Under Management	25,300,000		25,300,000
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	100,000		100,000
Real Estate Charges [Abstract]
Number of Square Feet (SFT) of Office Space Decided to Sub-lease in New York (in square feet)					380,000
Pre-tax Real Estate Charge as Part of Workforce Reduction					101,700,000
Estimated Current Market Rental Rates					76,200,000
Amount of Write-off of Leasehold Improvements, Furniture and Equipment Related to Space Sub-leased					25,500,000
Real Estate Liability Restructuring Reserve [Roll Forward]
Beginning Balance			89,793,000	0	0
Expense incurred			0		76,177,000
Deferred rent reclassification			0		22,954,000
Payments made			(10,099,000)		(9,814,000)
Interest accretion			819,000		476,000
Ending Balance	80,513,000		80,513,000		89,793,000
Sanford C Bernstein Inc Acquisition [Member]
Business Acquisition, Cost of Acquired Entity [Abstract]
Purchase Price for SCB, Inc., Cash Payment Portion					1,500,000,000
Purchase Price SCB, Inc., AllianceBernstein Units Issued (in units)					40,800,000
Business Acquisition, Purchase Price Allocation [Abstract]
Purchase Price of SCB, Inc., Goodwill Amount					3,000,000,000
Goodwill on Consolidated Balance Sheet [Abstract]
Goodwill	2,800,000,000		2,800,000,000
Intangible Assets, Net [Abstract]
Definite-lived Intangible Assets Subject to Amortization, Net	191,500,000		191,500,000
Series of Individually Immaterial Business Acquisitions [Member]
Goodwill on Consolidated Balance Sheet [Abstract]
Goodwill	$ 145,000,000		$ 145,000,000
Long Term Incentive Plan 2010 [Member]
Compensatory Unit Awards and Option Plans [Abstract]
Restricted Holding Unit Awards to Employees (in units)			13,600,000
Long Term Incentive Plan 2010 [Member] | Newly-Issued Holding Units [Member]
Compensatory Unit Awards and Option Plans [Abstract]
Shares Authorized Under Incentive Plan (in shares)	30,000,000		30,000,000
Shares Available for Grant Under Incentive Plan (in shares)	27,000,000		27,000,000
Long Term Incentive Plan 2010 [Member] | Repurchased Holding Units [Member]
Compensatory Unit Awards and Option Plans [Abstract]
Shares Authorized Under Incentive Plan (in shares)	30,000,000		30,000,000
Shares Available for Grant Under Incentive Plan (in shares)	19,400,000		19,400,000

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Acquisitions

6 Months Ended

Jun. 30, 2011

Business Combinations [Abstract]

Acquisitions

15. Acquisitions

On October 1, 2010, we acquired SunAmerica's alternative investment group, an experienced team that manages a portfolio of hedge fund and private equity fund investments. The purchase price of this acquisition, accounted for under ASC 805, Business Combinations, was $49.0 million, consisting of $14.3 million of cash payments, $2.5 million of assumed deferred compensation liabilities and $32.2 million of net contingent consideration payable. The net contingent consideration payable consists of the net present value of three annual payments of $1.5 million to SunAmerica based on its assets under management transferred to us in the acquisition and the net present value of projected revenue sharing payments of $35.5 million based on projected newly-raised assets under management by the acquired group. This contingent consideration payable was offset by $4.1 million of performance-based fees earned in 2010 determined to be pre-acquisition consideration. The excess of the purchase price over the fair value of identifiable assets acquired resulted in the recognition of $46.1 million of goodwill. During the first six months of 2011, no adjustments were made to the contingent consideration payable.

During the first quarter of 2011, AXA sold its 50% interest in our consolidated Australian joint venture to an unaffiliated third party as part of a larger transaction. On March 31, 2011, we purchased that 50% interest from the unaffiliated third party for $21.4 million, making our Australian entity a wholly-owned subsidiary. As a result, we eliminated $32.1 million of non-controlling interests in consolidated entities and increased partner's capital attributable to AllianceBernstein unitholders by $10.7 million.

On May 31, 2011, we acquired Pyrander Capital Management, LLC, an investment management company jointly owned by Caxton Associates L.P. (“Caxton”) and Kurt Feuerman, a Caxton portfolio manager.  We hired Mr. Feuerman and members of his team from Caxton, and acquired investment management contracts of the investment vehicles the team manages. The purchase price of this acquisition, accounted for under ASC 805, Business Combinations, was $10.2 million, consisting of $5.5 million of cash payments, $4.4 million payable over the next two years and a miscellaneous liability of $0.3 million. The excess of the purchase price over the fair value of identifiable assets acquired resulted in the recognition of $5.7 million of goodwill. We also recorded $2.5 million of indefinite-lived intangible assets relating to the acquired fund's investment management contracts and $2.0 million of definite-lived intangible assets relating to separately managed accounts' relationships. Mr. Feuerman also received two restricted Holding unit awards; one with a three-year service condition and one with a five-year service condition and performance condition (assets under management targets). As a result of the service conditions, for accounting purposes these awards are considered compensation expense, not part of the purchase price. Also, we are contingently liable to pay Caxton an additional $4.4 million if Mr. Feuerman's five-year service condition and performance condition are met.

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Condensed Consolidated Statements of Financial Condition (unaudited) (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 383,295	$ 650,191
Cash and securities segregated, at fair value (cost: $1,015,102 and $1,109,785)	1,015,261	1,109,891
Receivables, net:
Brokers and dealers	276,943	299,314
Brokerage clients	733,491	747,049
Fees	310,028	343,473
Investments:
Deferred compensation-related	252,529	298,705
Other	670,453	457,850
Furniture, equipment and leasehold improvements, net	282,733	300,442
Goodwill	2,944,840	2,939,170
Intangible assets, net	199,892	205,862
Deferred sales commissions, net	68,364	76,156
Other assets	175,203	151,284
Total assets	7,313,032	7,579,387
Liabilities:
Brokers and dealers	203,496	221,370
Securities sold not yet purchased	31,957	50,539
Brokerage clients	1,420,217	1,750,737
AllianceBernstein mutual funds	65,749	77,179
Accounts payable and accrued expenses	414,261	422,860
Accrued compensation and benefits	417,996	338,560
Debt	329,996	224,991
Total liabilities	2,883,672	3,086,236
Commitments and contingencies ( See Note 8)
Capital:
General Partner	48,766	48,964
Limited partners: 278,011,850 and 278,115,232 units issued and outstanding	4,886,435	4,902,854
Capital contributions receivable from General Partner	(14,653)	(15,973)
Holding Units held for deferred compensation plans	(554,486)	(535,410)
Accumulated other comprehensive income (loss)	(11,101)	(31,801)
Partners' capital attributable to AllianceBernstein Unitholders	4,354,961	4,368,634
Non-controlling interests in consolidated entities	74,399	124,517
Total capital	4,429,360	4,493,151
Total liabilities and capital	$ 7,313,032	$ 7,579,387

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Net Income Per Unit (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Net Income Per Unit [Abstract]
General Partnership Interest In Company (in hundredths)	1.00%		1.00%
Limited Partners interest in Company (in hundredths)			99.00%
Net income attributable to AllianceBernstein Unitholders	$ 114,139	$ 106,119	$ 250,611	$ 254,385
Weighted average units outstanding - basic (in units)	278,005	275,498	278,047	275,204
Dilutive effect of compensatory options to buy Holding Units (in units)	556	2,026	682	1,933
Weighted average units outstanding - diluted (in units)	278,561	277,524	278,729	277,137
Basic net income per AllianceBernstein Unit (per unit)	$ 0.41	$ 0.38	$ 0.89	$ 0.92
Diluted net income per AllianceBernstein Unit (per unit)	$ 0.41	$ 0.38	$ 0.89	$ 0.91
Out-of-the-money options excluded from diluted net income per unit (in units)	4,408,829	5,048,345	4,408,829	5,048,345

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Comprehensive Income (Details) (USD $) In Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Comprehensive income (loss) [Abstract]
Net income	$ 107,383	$ 96,780	$ 235,809	$ 228,273
Other comprehensive income (loss), net of tax: [Abstract]
Unrealized gains (losses) on investments	141	(1,260)	527	(902)
Foreign currency translation adjustment	6,674	(11,749)	12,803	(29,965)
Changes in retirement plan related items	107	20	66	40
Comprehensive income	114,305	83,791	249,205	197,446
Comprehensive loss in consolidated entities attributable to non-controlling interests	6,760	10,897	15,089	27,043
Comprehensive income attributable to AllianceBernstein Unitholders	$ 121,065	$ 94,688	$ 264,294	$ 224,489

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Changes in Capital (Details) (USD $) In Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Limited Partners' Capital Account [Line Items]
Balance as of beginning of period -Total			$ 4,493,151
Comprehensive income (loss) [Abstract]
Net income (loss)	107,383	96,780	235,809	228,273
Other comprehensive income (loss), net of tax [Abstract]
Unrealized (losses) gains on investments			527
Foreign currency translation adjustment	6,674	(11,749)	12,803	(29,965)
Changes in employee benefit related items	107	20	66	40
Comprehensive income (loss)			249,205
Cash distributions to General Partner and unitholders			(270,752)
Capital contributions (distributions)			(1,128)
Purchase of Australian joint venture			(21,384)
Purchase of AllianceBernstein Units			(4,297)
Compensation-related transactions			(15,435)
Balance as of end of period	4,429,360		4,429,360
Partners Capital Attributable to AllianceBernstein Unitholders [Member]
Limited Partners' Capital Account [Line Items]
Balance as of beginning of period -Total			4,368,634	4,530,362
Comprehensive income (loss) [Abstract]
Net income (loss)			250,611	254,385
Other comprehensive income (loss), net of tax [Abstract]
Unrealized (losses) gains on investments			494	(1,137)
Foreign currency translation adjustment			13,123	(28,799)
Changes in employee benefit related items			66	40
Comprehensive income (loss)			264,294	224,489
Cash distributions to General Partner and unitholders			(270,752)	(341,862)
Capital contributions (distributions)			1,797	1,854
Purchase of Australian joint venture			10,720
Purchase of AllianceBernstein Units			(4,297)
Compensation-related transactions			(15,435)	(24,655)
Balance as of end of period	4,354,961	4,390,188	4,354,961	4,390,188
Non Controlling Interests in Consolidated Entities [Member]
Limited Partners' Capital Account [Line Items]
Balance as of beginning of period -Total			124,517	171,593
Comprehensive income (loss) [Abstract]
Net income (loss)			(14,802)	(26,112)
Other comprehensive income (loss), net of tax [Abstract]
Unrealized (losses) gains on investments			33	235
Foreign currency translation adjustment			(320)	(1,166)
Changes in employee benefit related items			0	0
Comprehensive income (loss)			(15,089)	(27,043)
Cash distributions to General Partner and unitholders			0	0
Capital contributions (distributions)			(2,925)	(992)
Purchase of Australian joint venture			(32,104)
Purchase of AllianceBernstein Units			0
Compensation-related transactions			0	0
Balance as of end of period	74,399	143,558	74,399	143,558
Total Capital [Member]
Limited Partners' Capital Account [Line Items]
Balance as of beginning of period -Total				4,701,955
Comprehensive income (loss) [Abstract]
Net income (loss)				228,273
Other comprehensive income (loss), net of tax [Abstract]
Unrealized (losses) gains on investments				(902)
Foreign currency translation adjustment				(29,965)
Changes in employee benefit related items				40
Comprehensive income (loss)				197,446
Cash distributions to General Partner and unitholders				(341,862)
Capital contributions (distributions)				862
Compensation-related transactions				(24,655)
Balance as of end of period		$ 4,533,746		$ 4,533,746

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Investments (Details) (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Summary of Investment Holdings [Line Items]
Investments owned	$ 922,982	$ 756,555
Deferred compensation obligations	252,529	298,705
Available-For-Sale Investments [Member]
Summary of Investment Holdings [Line Items]
Investments owned	14,909	16,588
Trading Investments [Member] | Deferred Compensation-Related [Member]
Summary of Investment Holdings [Line Items]
Investments owned	209,260	239,787
Trading Investments [Member] | US Treasury Bill Securities [Member]
Summary of Investment Holdings [Line Items]
Investments owned	37,994	52,975
Trading Investments [Member] | Seed Money [Member]
Summary of Investment Holdings [Line Items]
Investments owned	213,388	177,589
Trading Investments [Member] | Other Trading Investments [Member]
Summary of Investment Holdings [Line Items]
Investments owned	72,458	35,259
Investments In Limited Partnership Hedge Funds [Member] | Deferred Compensation-Related [Member]
Summary of Investment Holdings [Line Items]
Investments owned	43,269	58,918
Investments In Limited Partnership Hedge Funds [Member] | Seed Money and Other [Member]
Summary of Investment Holdings [Line Items]
Investments owned	213,590	47,735
Consolidated Private Equity [Member]
Summary of Investment Holdings [Line Items]
Investments owned	81,594	101,360
Private Equity [Member]
Summary of Investment Holdings [Line Items]
Investments owned	28,814	17,803
Other Investment [Member]
Summary of Investment Holdings [Line Items]
Investments owned	$ 7,706	$ 8,541