Net Income per Unit

6 Months Ended

Jun. 30, 2019

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 June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
	(in thousands, except per unit amounts)

Net income – basic	$	52,274	$	58,457	$	98,713	$	116,617
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	19		115		45		259
Net income – diluted	$	52,293	$	58,572	$	98,758	$	116,876

Weighted average units outstanding – basic	96,283		98,368		95,717		97,673
Dilutive effect of compensatory options	48		272		60		303
Weighted average units outstanding – diluted	96,331		98,640		95,777		97,976

Basic net income per unit	$	0.54	$	0.59	$	1.03	$	1.19
Diluted net income per unit	$	0.54	$	0.59	$	1.03	$	1.19

For both the three and six months ended June 30, 2019, we excluded 29,056 options from the diluted net income computation due to their anti-dilutive effect. For the three and six months ended June 30, 2018, we excluded 850,155 options and 1,211,906 options, respectively, from the diluted net income computation due to their anti-dilutive effect.