Net Income per Unit

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(in thousands, except per unit amounts)

Net income – basic	$	59,828	$	65,900	$	158,541	$	182,517
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	17		117		62		376
Net income – diluted	$	59,845	$	66,017	$	158,603	$	182,893

Weighted average units outstanding – basic	96,376		97,409		95,939		97,587
Dilutive effect of compensatory options	36		245		52		282
Weighted average units outstanding – diluted	96,412		97,654		95,991		97,869

Basic net income per unit	$	0.62	$	0.68	$	1.65	$	1.87
Diluted net income per unit	$	0.62	$	0.68	$	1.65	$	1.87

For both the three and nine months ended September 30, 2019, we excluded 29,056 options from the diluted net income computation due to their anti-dilutive effect. For the three and nine months ended September 30, 2018, we excluded 824,245 options and 844,973 options, respectively, from the diluted net income computation due to their anti-dilutive effect.