Business Segment Information

12 Months Ended

Dec. 31, 2011

Business Segment Information [Abstract]

Business Segment Information

20. Business Segment Information

Management has assessed the requirements of ASC 280, Segment Reporting, and determined that, because we utilize a consolidated approach to assess performance and allocate resources, we have only one operating segment. Enterprise-wide disclosures as of and for the years ended December 31, 2011, 2010 and 2009 were as follows:

Services

Net revenues derived from our investment management, research and related services were as follows:

	Years Ended December 31,
	2011			2010		2009
	(in millions)
Institutions	$	617		$	765	$	811
Retail		1,093			1,069		888
Private client		652			651		590
Bernstein research services		437			431		435
Other		(47	)		37		187
Total revenues		2,752			2,953		2,911
Less: Interest expense		2			4		4
Net revenues	$	2,750		$	2,949	$	2,907

Our AllianceBernstein Global High Yield Portfolio, an open-end fund incorporated in Luxembourg (ACATEUH: LX), generated approximately 10% and 7% of our investment advisory and service fees and 11% and 8% of our net revenues during 2011 and 2010, respectively.

Geographic Information

Net revenues and long-lived assets, related to our U.S. and international operations, as of and for the years ended December 31, were:

	2011		2010		2009
	(in millions)
Net revenues:
United States	$	1,725	$	1,933	$	2,038
International		1,025		1,016		869
Total	$	2,750	$	2,949	$	2,907
Long-lived assets:
United States	$	3,403	$	3,448	$	3,488
International		74		74		79
Total	$	3,477	$	3,522	$	3,567

Major Customers

Company-sponsored mutual funds are distributed to individual investors through broker-dealers, insurance sales representatives, banks, registered investment advisers, financial planners and other financial intermediaries. Certain subsidiaries of AXA, including AXA Advisors, LLC, have entered into selected dealer agreements with AllianceBernstein Investments and have been responsible for 1%, 2% and 2% of our open-end mutual fund sales in 2011, 2010 and 2009, respectively. During 2011, Hong Kong and Shanghai Banking Corporation (HSBC), UBS AG and Bank of America Merrill Lynch (or their respective subsidiaries) were responsible for approximately 14%, 7% and 5%, respectively, of our open-end mutual fund sales. Neither AXA nor these unaffiliated companies are under any obligation to sell a specific amount of AllianceBernstein Fund shares and each also sells shares of mutual funds that it sponsors and that are sponsored by unaffiliated organizations.

AXA and the general and separate accounts of AXA Equitable (including investments by the separate accounts of AXA Equitable in the funding vehicle EQ Advisors Trust) accounted for approximately 4%, 5% and 5% of total revenues for the years ended December 31, 2011, 2010 and 2009, respectively. No single institutional client other than AXA and its subsidiaries accounted for more than 1% of total revenues for the years ended December 31, 2011, 2010 and 2009.