Net Income Per Unit

6 Months Ended

Jun. 30, 2011

Net Income Per Unit [Abstract]

Net Income Per Unit

3. 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 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,
	2011		2010		2011		2010
	(in thousands, except per unit amounts)
Net income – basic	$	35,512	$	31,772	$	79,192	$	79,018
Additional allocation of equity in net income attributable to AllianceBernstein resulting from assumed dilutive effect of compensatory options		141		484		379		1,109
Net income – diluted	$	35,653	$	32,256	$	79,571	$	80,127
Weighted average units outstanding – basic		103,969		101,442		104,339		101,409
Dilutive effect of compensatory options		556		2,026		682		1,933
Weighted average units outstanding – diluted		104,525		103,468		105,021		103,342
Basic net income per unit	$	0.34	$	0.31	$	0.76	$	0.78
Diluted net income per unit	$	0.34	$	0.31	$	0.76	$	0.78

For the three months and six months ended June 30, 2011, we excluded 4,408,829 out-of-the-money options (i.e., options with an exercise price greater than the weighted average closing price of a unit for the relevant period), from the diluted net income per unit computation due to their anti-dilutive effect. For the three months and six months ended June 30, 2010, we excluded 5,048,345 out-of-the-money options from the diluted net income per unit computation due to their anti-dilutive effect.