Net (Loss) Income Per Unit

9 Months Ended

Sep. 30, 2012

Net (Loss) Income Per Unit [Abstract]

Net (Loss) Income Per Unit

3. Net (Loss) Income Per Unit

 

Basic net (loss) income per unit is derived by dividing net (loss) income by the basic weighted average number of units outstanding for each period. Diluted net (loss) income per unit is derived by adjusting net (loss) income for the assumed dilutive effect of compensatory options ("Net (loss) 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,
	2012			2011		2012		2011
	(in thousands, except per unit amounts)
Net (loss) income – basic	$	(23,142	)	$	27,003	$	24,896	$	106,195
Additional allocation of equity in net (loss) income attributable to AllianceBernstein resulting from assumed dilutive effect of compensatory options		—			—		—		240
Net (loss) income – diluted	$	(23,142	)	$	27,003	$	24,896	$	106,435
Weighted average units outstanding – basic		101,333			103,156		101,507		103,915
Dilutive effect of compensatory options		—			—		—		316
Weighted average units outstanding – diluted		101,333			103,156		101,507		104,231
Basic net (loss) income per unit	$	(0.23	)	$	0.26	$	0.25	$	1.02
Diluted net (loss) income per unit	$	(0.23	)	$	0.26	$	0.25	$	1.02

Holding's net loss of $23.1 million during the third quarter of 2012 is due primarily to AllianceBernstein incurring a net loss of $44.2 million, resulting from a pre-tax real estate charge of $168.1 million AllianceBernstein recorded in the third quarter of 2012 in regard to its global office space consolidation plan.

For the three months and nine months ended September 30, 2012, we excluded 9,032,095 options from the diluted net (loss) income per unit computation due to their anti-dilutive effect. Weighted average units outstanding do not include Holding's proportional share (37.5% during the third quarter and first nine months of 2012; 37.5% during the third quarter of 2011 and 37.4% during the first nine months of 2011) of the Holding Units held by AllianceBernstein in its consolidated rabbi trust. For the three months and nine months ended September 30, 2011, we excluded 9,590,691 and 4,307,713 options, respectively, from the diluted net (loss) income per unit computation due to their anti-dilutive effect.