Net Income per Unit

6 Months Ended

Jun. 30, 2020

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,
	2020		2019		2020		2019
	(in thousands, except per unit amounts)

Net income – basic	$	56,926	$	52,274	$	119,185	$	98,713
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	3		19		18		45
Net income – diluted	$	56,929	$	52,293	$	119,203	$	98,758

Weighted average units outstanding – basic	96,892		96,283		96,526		95,717
Dilutive effect of compensatory options	10		48		22		60
Weighted average units outstanding – diluted	96,902		96,331		96,548		95,777

Basic net income per unit	$	0.59	$	0.54	$	1.23	$	1.03
Diluted net income per unit	$	0.59	$	0.54	$	1.23	$	1.03



	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
	(amounts as shown)
Anti-dilutive options excluded from diluted net income	44,877	29,056	44,877	29,056