Net Income per Unit

6 Months Ended

Jun. 30, 2023

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,
	2023		2022		2023		2022
	(in thousands, except per unit amounts)

Net income – basic	$	60,558	$	68,141	$	127,995	$	154,069
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	—		—		—		2
Net income – diluted	$	60,558	$	68,141	$	127,995	$	154,071

Weighted average units outstanding – basic	113,494		98,802		113,520		99,001
Dilutive effect of compensatory options	—		—		—		2
Weighted average units outstanding – diluted	113,494		98,802		113,520		99,003

Basic net income per unit	$	0.53	$	0.69	$	1.13	$	1.56
Diluted net income per unit	$	0.53	$	0.69	$	1.13	$	1.56

There were no anti-dilutive options excluded from diluted net income in the three and six months ended June 30, 2023 or 2022.