Net Income Per Unit

12 Months Ended

Dec. 31, 2017

Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each year. 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 year.



	Years Ended December 31,
	2017		2016		2015
	(in thousands, except per unit amounts)
Net income - basic	$	207,422	$	216,586	$	185,764
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	680		878		1,383
Net income - diluted	$	208,102	$	217,464	$	187,147

Weighted average units outstanding - basic	94,733		96,834		99,475
Dilutive effect of compensatory options	430		554		1,037
Weighted average units outstanding - diluted	95,163		97,388		100,512

Basic net income per unit	$	2.19	$	2.24	$	1.87
Diluted net income per unit	$	2.19	$	2.23	$	1.86

We excluded 1,970,741 options in 2017, 2,873,106 options in 2016 and 2,409,499 options in 2015, from the diluted net income per unit computation due to their anti-dilutive effect.