Net Income Per Unit

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Unit

Net Income Per Unit

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,
	2020		2019		2018
	(in thousands, except per unit amounts)
Net income - basic	$	279,380	$	238,563	$	242,397
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	56		79		447
Net income - diluted	$	279,436	$	238,642	$	242,844
Weighted average units outstanding - basic	96,870		95,884		97,041
Dilutive effect of compensatory options	27		44		251
Weighted average units outstanding - diluted	96,897		95,928		97,292
Basic net income per unit	$	2.88	$	2.49	$	2.50
Diluted net income per unit	$	2.88	$	2.49	$	2.50

	Years Ended December 31,
	2020	2019	2018
Anti-dilutive options excluded from diluted net income	29,056	29,056	49,784