Net Income per Unit (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Unit [Abstract]

Schedule of Earnings Per Unit, Basic and Diluted

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands, except per unit amounts)
Net income – basic	$	56,991	$	56,316	$	184,986	$	210,385
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	—		—		—		2
Net income – diluted	$	56,991	$	56,316	$	184,986	$	210,387
Weighted average units outstanding – basic	113,185		100,466		113,407		99,494
Dilutive effect of compensatory options	—		—		—		2
Weighted average units outstanding – diluted	113,185		100,466		113,407		99,496
Basic net income per unit	$	0.50	$	0.56	$	1.63	$	2.11
Diluted net income per unit	$	0.50	$	0.56	$	1.63	$	2.11