Income Taxes (Tables)

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Computation of Effective Income Tax Rate and Changes in Components of Income Tax

	Three Months Ended March 31,
	2020			2019			% Change
	(in thousands)
Net income attributable to AB Unitholders	$	194,320		$	149,114		30.3	%
Multiplied by: weighted average equity ownership interest	36.0		%	35.3		%
Equity in net income attributable to AB Unitholders	$	69,914		$	52,638		32.8
AB qualifying revenues	$	702,340		$	586,550		19.7
Multiplied by: weighted average equity ownership interest for calculating tax	30.6		%	29.6		%
Multiplied by: federal tax	3.5		%	3.5		%
Federal income taxes	7,515			6,081
State income taxes	140			118
Total income taxes	$	7,655		$	6,199		23.5
Effective tax rate	10.9		%	11.8		%