Net Income per Unit

6 Months Ended

Jun. 30, 2022

Earnings Per Unit [Abstract]

Net Income per Unit

Net Income per UnitBasic 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,
	2022		2021		2022		2021
	(in thousands, except per unit amounts)
Net income – basic	$	68,141	$	90,917	$	154,069	$	172,004
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	—		8		2		23
Net income – diluted	$	68,141	$	90,925	$	154,071	$	172,027
Weighted average units outstanding – basic	98,802		100,159		99,001		100,153
Dilutive effect of compensatory options	—		12		2		20
Weighted average units outstanding – diluted	98,802		100,171		99,003		100,173
Basic net income per unit	$	0.69	$	0.91	$	1.56	$	1.72
Diluted net income per unit	$	0.69	$	0.91	$	1.56	$	1.72

There were no anti-dilutive options excluded from diluted net income in the three and six moths ended June 30, 2022 or 2021.