Net Income per Unit (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Earnings Per Unit, Basic and Diluted

Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income – diluted”) and dividing by the diluted weighted average number of units outstanding for each period.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(in thousands, except per unit amounts)

Net income – basic	$	50,258	$	42,086	$	143,922	$	134,677
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	221		297		581		1,070
Net income – diluted	$	50,479	$	42,383	$	144,503	$	135,747

Weighted average units outstanding – basic	95,890		99,651		97,643		100,255
Dilutive effect of compensatory options	590		970		554		1,113
Weighted average units outstanding – diluted	96,480		100,621		98,197		101,368

Basic net income per unit	$	0.52	$	0.42	$	1.47	$	1.34
Diluted net income per unit	$	0.52	$	0.42	$	1.47	$	1.34