Net Income Per Unit

12 Months Ended

Dec. 31, 2019

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,
	2019		2018		2017
	(in thousands, except per unit amounts)
Net income - basic	$	238,563	$	242,397	$	207,422
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	79		447		680
Net income - diluted	$	238,642	$	242,844	$	208,102

Weighted average units outstanding - basic	95,884		97,041		94,733
Dilutive effect of compensatory options	44		251		430
Weighted average units outstanding - diluted	95,928		97,292		95,163

Basic net income per unit	$	2.49	$	2.50	$	2.19
Diluted net income per unit	$	2.49	$	2.50	$	2.19

We excluded 29,056 options in 2019, 49,784 options in 2018 and 1,970,741 options in 2017, from the diluted net income per unit computation due to their anti-dilutive effect.