Net Income per Unit (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Unit [Abstract]

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 March 31,
		2019		2018
	(in thousands, except per unit amounts)
Net income – basic		$	46,439	$	58,160
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options		26		145
Net income – diluted		$	46,465	$	58,305
Weighted average units outstanding – basic		95,144		96,987
Dilutive effect of compensatory options		72		336
Weighted average units outstanding – diluted		95,216		97,323
Basic net income per unit		$	0.49	$	0.60
Diluted net income per unit		$	0.49	$	0.60