Net Income Per Unit

12 Months Ended

Dec. 31, 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 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,
	2011			2010		2009
	(in thousands, except per unit amounts)
Net (loss) income-basic	$	(93,268	)	$	134,158	$	167,189
Additional allocation of equity in net (loss) income attributable to AllianceBernstein resulting from assumed dilutive effect of compensatory options		-			1,640		328
Net (loss) income-diluted	$	(93,268	)	$	135,798	$	167,517
Weighted average units outstanding-basic		103,288			101,162		92,906
Dilutive effect of compensatory options		-			1,639		244
Weighted average units outstanding-diluted		103,288			102,801		93,150
Basic net (loss) income per unit	$	(0.90	)	$	1.33	$	1.80
Diluted net (loss) income per unit	$	(0.90	)	$	1.32	$	1.80

As of December 31, 2011, 2010 and 2009, we excluded 3,813,567, 4,783,472 and 5,752,877 options, respectively, from the diluted net (loss) income per unit computation due to their anti-dilutive effect.

The 2011 net loss per unit includes the impact of AllianceBernstein's one-time, non-cash deferred compensation charge of $587.1 million taken in the fourth quarter. See further discussion above in Note 2, Deferred Compensation Plans.