Cash Distributions

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Cash Distributions

Cash Distributions

AB Holding is required to distribute all of its Available Cash Flow, as defined in the Amended and Restated Agreement of Limited Partnership of AB Holding (“AB Holding Partnership Agreement”), to its Unitholders pro rata in accordance with their percentage interests in AB Holding. Available Cash Flow is defined as the cash distributions AB Holding receives from AB minus such amounts as the General Partner determines, in its sole discretion, should be retained by AB Holding for use in its business (such as the payment of taxes) or plus such amounts as the General Partner determines, in its sole discretion, should be released from previously retained cash flow.

On October 22, 2020, the General Partner declared a distribution of $0.69 per unit, representing a distribution of Available Cash Flow for the three months ended September 30, 2020. Each general partnership unit in AB Holding is entitled to

receive distributions equal to those received by each AB Holding Unit. The distribution is payable on November 12, 2020 to holders of record at the close of business on November 2, 2020.