Net Income Per Unit

12 Months Ended

Dec. 31, 2023

Earnings Per Share [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 year. 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 year.

	Years Ended December 31
	2023			2022			2021
	(in thousands, except per unit amounts)
Net income - basic		$	264,184		$	274,165		$	385,843
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options		—			2			30
Net income - diluted		$	264,184		$	274,167		$	385,873
Weighted average units outstanding - basic		112,948			101,763			99,545
Dilutive effect of compensatory options		—			1			11
Weighted average units outstanding - diluted		112,948			101,764			99,556
Basic net income per unit		$	2.34		$	2.69		$	3.88
Diluted net income per unit		$	2.34		$	2.69		$	3.88

There were no anti-dilutive options excluded from diluted net income in the years ended December 31, 2023, 2022 or 2021.