Net Income per Unit

6 Months Ended

Jun. 30, 2021

Earnings Per Unit [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 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,
	2021		2020		2021		2020
	(in thousands, except per unit amounts)
Net income – basic	$	90,917	$	56,926	$	172,004	$	119,185
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	8		3		23		18
Net income – diluted	$	90,925	$	56,929	$	172,027	$	119,203
Weighted average units outstanding – basic	100,159		96,892		100,153		96,526
Dilutive effect of compensatory options	12		10		20		22
Weighted average units outstanding – diluted	100,171		96,902		100,173		96,548
Basic net income per unit	$	0.91	$	0.59	$	1.72	$	1.23
Diluted net income per unit	$	0.91	$	0.59	$	1.72	$	1.23

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
	(amounts as shown)
Anti-dilutive options excluded from diluted net income	—	44,877	—	44,877