Net Income per Unit (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Unit [Abstract]

Schedule of Earnings Per Unit, Basic and Diluted

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,
	2020		2019		2020		2019
	(in thousands, except per unit amounts)
Net income – basic	$	66,999	$	59,828	$	186,184	$	158,541
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	14		17		32		62
Net income – diluted	$	67,013	$	59,845	$	186,216	$	158,603
Weighted average units outstanding – basic	96,350		96,376		95,415		95,939
Dilutive effect of compensatory options	27		36		23		52
Weighted average units outstanding – diluted	96,377		96,412		95,438		95,991
Basic net income per unit	$	0.70	$	0.62	$	1.95	$	1.65
Diluted net income per unit	$	0.70	$	0.62	$	1.95	$	1.65

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
	(amounts as shown)
Anti-dilutive options excluded from diluted net income	29,056	29,056	29,056	29,056