Net Income per Unit

3 Months Ended

Mar. 31, 2018

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 March 31,
	2018		2017
	(in thousands, except per unit amounts)

Net income – basic	$	58,160	$	43,910
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	145		176
Net income – diluted	$	58,305	$	44,086

Weighted average units outstanding – basic	96,987		96,238
Dilutive effect of compensatory options	336		534
Weighted average units outstanding – diluted	97,323		96,772

Basic net income per unit	$	0.60	$	0.46
Diluted net income per unit	$	0.60	$	0.46

We excluded, 1,225,731 options for the three months ended March 31, 2018 and 2,437,307 options for the three months ended March 31, 2017, from the diluted net income per unit computation due to their anti-dilutive effect.