Net Income per Unit

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands, except per unit amounts)
Net income – basic	$	56,316	$	88,676	$	210,385	$	260,680
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	—		2		2		26
Net income – diluted	$	56,316	$	88,678	$	210,387	$	260,706
Weighted average units outstanding – basic	100,466		99,410		99,494		99,903
Dilutive effect of compensatory options	—		3		2		14
Weighted average units outstanding – diluted	100,466		99,413		99,496		99,917
Basic net income per unit	$	0.56	$	0.89	$	2.11	$	2.61
Diluted net income per unit	$	0.56	$	0.89	$	2.11	$	2.61

There were no anti-dilutive options excluded from diluted net income in the three and nine months ended September 30, 2022 or 2021.