Alliancebernstein 10-Q 28 Apr 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2020shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	000-29961
Entity Registrant Name	ALLIANCEBERNSTEIN L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4064930
Entity Address, Address Line One	1345 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	212
Local Phone Number	969-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	269,981,431
Entity Central Index Key	0001109448
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 975,263	$ 679,738
Cash and securities segregated, at fair value (cost: $2,005,514 and $1,090,443)	2,012,562	1,094,866
Receivables, net:
Brokers and dealers	358,028	97,966
Brokerage clients	1,814,889	1,536,674
AB funds fees	214,672	261,588
Other fees	122,300	148,744
Investments:
Long-term incentive compensation-related	37,316	50,902
Other	225,192	215,892
Other assets	446,460	330,943
Furniture, equipment and leasehold improvements, net	138,286	145,251
Goodwill	3,088,038	3,076,926
Intangible assets, net	49,004	55,366
Deferred sales commissions, net	49,280	36,296
Right-of-use assets	341,660	362,693
Total assets	10,443,237	8,706,092
Payables:
Brokers and dealers	382,632	201,778
Securities sold not yet purchased	27,629	30,157
Brokerage clients	3,653,789	2,531,946
AB mutual funds	118,618	71,142
Accounts payable and accrued expenses	281,094	192,110
Lease liabilities	442,590	468,451
Accrued compensation and benefits	346,445	276,829
Short-term Debt
Debt:
EQH Facility	830,000	560,000
Other	104,814	0
Total liabilities	6,292,486	4,363,430
Commitments and contingencies (See Note 12)
Redeemable non-controlling interest	224,900	325,561
Capital:
General Partner	40,571	41,225
Limited partners: 269,981,431 and 270,380,314 units issued and outstanding	4,109,946	4,174,201
Receivables from affiliates	(9,279)	(9,011)
AB Holding Units held for long-term incentive compensation plans	(81,314)	(76,310)
Accumulated other comprehensive loss	(134,073)	(113,004)
Partners’ capital attributable to AB Unitholders	3,925,851	4,017,101
Total liabilities, redeemable non-controlling interest and capital	10,443,237	8,706,092
Company-sponsored investment funds
Investments:
Cash and cash equivalents	87,277	11,433
Investments	443,472	581,004
Other assets	39,538	19,810
Debt:
Redeemable non-controlling interest	224,900	325,561
VIEs
Payables:
Liabilities of consolidated company-sponsored investment funds	$ 104,875	$ 31,017

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Cash and securities segregated, at cost	$ 2,005,514	$ 1,090,443
Limited partners, units issued (in units)	269,981,431	270,380,314
Limited partners, units outstanding (in units)	269,981,431	270,380,314

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenue subject to contracts with customers	$ 907,320	$ 769,186
Dividend and interest income	20,465	27,346
Investment (losses) gains	(44,306)	15,735
Other revenues	25,511	22,206
Total revenues	883,475	812,625
Less: Interest expense	9,319	17,163
Net revenues	874,156	795,462
Expenses:
Employee compensation and benefits	362,272	339,309
Promotion and servicing:
Amortization of deferred sales commissions	5,526	3,502
Trade execution, marketing, T&E and other	55,610	49,648
General and administrative	122,267	117,848
Contingent payment arrangements	793	54
Interest on borrowings	2,834	3,983
Amortization of intangible assets	6,486	6,974
Total expenses	695,933	627,311
Operating income	178,223	168,151
Income taxes	9,474	8,921
Net income	168,749	159,230
Net (loss) income of consolidated entities attributable to non-controlling interests	(25,571)	10,116
Net income attributable to AB Unitholders	$ 194,320	$ 149,114
Net income per AB Unit:
Basic (in dollars per unit)	$ 0.71	$ 0.55
Diluted (in dollars per unit)	$ 0.71	$ 0.55
Investment advisory and services fees
Revenues:
Revenue subject to contracts with customers	$ 621,725	$ 556,594
Bernstein research services
Revenues:
Revenue subject to contracts with customers	129,223	90,235
Distribution related
Revenues:
Revenue subject to contracts with customers	130,857	100,509
Promotion and servicing:
Distribution-related payments	$ 140,145	$ 105,993

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 168,749	$ 159,230
Other comprehensive income (loss):
Foreign currency translation adjustments, before tax	(21,396)	2,630
Income tax benefit (expense)	73	(77)
Foreign currency translation adjustments, net of tax	(21,323)	2,553
Changes in employee benefit related items:
Amortization of prior service cost	6	6
Recognized actuarial gain	325	267
Changes in employee benefit related items	331	273
Income tax (expense) benefit	(77)	10
Employee benefit related items, net of tax	254	283
Other comprehensive (loss) income	(21,069)	2,836
Less: Comprehensive (loss) income in consolidated entities attributable to non-controlling interests	(25,571)	10,096
Comprehensive income attributable to AB Unitholders	$ 173,251	$ 151,970

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Partners' Capital - USD ($) $ in Thousands	Total	Receivables from Affiliates	AB Holding Units held for Long-term Incentive Compensation Plans	Accumulated Other Comprehensive Income (Loss)	Partners' Capital	Non-redeemable Non-controlling Interests in Consolidated Entities	General Partner’s Capital	Limited Partners' Capital
Balance, beginning of period at Dec. 31, 2018		$ (11,430)	$ (77,990)	$ (110,866)		$ 949	$ 40,240	$ 4,075,306
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 159,230					16	1,491	147,623
Cash distributions							(1,917)	(189,568)
Long-term incentive compensation plans activity		465	18,604				173	16,985
(Retirement) of AB Units, net			58,340				(584)	(57,756)
Other			0
Capital contributions from AB Holding		(701)
Purchases of AB Holding Units to fund long-term compensation plans, net			(58,452)
Re-valuation of AB Holding Units held in rabbi trust			(10,005)
Foreign currency translation adjustment, net of tax	2,553			2,571		(20)
Changes in employee benefit related items, net of tax	283			283
Balance, end of period at Mar. 31, 2019	3,843,757	(11,666)	(69,503)	(108,012)	$ 3,842,812	945	39,403	3,992,590
Balance, beginning of period at Dec. 31, 2019		(9,011)	(76,310)	(113,004)		0	41,225	4,174,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	168,749					0	1,943	192,377
Cash distributions							(2,542)	(251,261)
Long-term incentive compensation plans activity		184	7,407				2	335
(Retirement) of AB Units, net			5,763				(57)	(5,706)
Other			12
Capital contributions from AB Holding		(452)
Purchases of AB Holding Units to fund long-term compensation plans, net			(17,750)
Re-valuation of AB Holding Units held in rabbi trust			(436)
Foreign currency translation adjustment, net of tax	(21,323)			(21,323)		0
Changes in employee benefit related items, net of tax	254			254
Balance, end of period at Mar. 31, 2020	$ 3,925,851	$ (9,279)	$ (81,314)	$ (134,073)	$ 3,925,851	$ 0	$ 40,571	$ 4,109,946

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 168,749	$ 159,230
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	5,526	3,502
Non-cash long-term incentive compensation expense	7,591	19,070
Depreciation and other amortization	36,156	41,892
Unrealized losses (gains) on investments	20,585	(10,543)
Other, net	(1,324)	6,246
Changes in assets and liabilities:
(Increase) in securities, segregated	(917,696)	(92,624)
(Increase) decrease in receivables	(615,055)	97,411
(Increase) decrease in investments	(17,557)	449,556
(Increase) in deferred sales commissions	(18,510)	(3,175)
Decrease (increase) in right-of-use assets	134	(1,000)
(Increase) decrease in other assets	(118,038)	38,685
Increase (decrease) in payables	1,492,200	(222,472)
(Decrease) in lease liabilities	(23,968)	(34,914)
Increase (decrease) in accounts payable and accrued expenses	5,456	(29,114)
Increase in accrued compensation and benefits	70,792	40,644
Net cash provided by operating activities	286,703	432,469
Cash flows from investing activities:
Purchases of furniture, equipment and leasehold improvements	(3,321)	(5,567)
Acquisition of business, net of cash acquired	(11,473)	0
Net cash used in investing activities	(14,794)	(5,567)
Cash flows from financing activities:
Issuance of commercial paper, net	104,814	15,459
Proceeds of EQH Facility	270,000	0
(Repayment) of bank loans	0	(25,000)
Increase (decrease) in overdrafts payable	85,395	(65,352)
Distributions to General Partner and Unitholders	(253,803)	(191,485)
Capital contributions (to) affiliates	(699)	(932)
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units	147	7,382
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net	(17,750)	(58,452)
Other	(504)	(228)
Net cash provided by (used in) financing activities	112,509	(318,644)
Effect of exchange rate changes on cash and cash equivalents	(13,049)	640
Net increase (decrease) in cash and cash equivalents	371,369	108,898
Cash and cash equivalents as of beginning of the period	691,171	653,324
Cash and cash equivalents as of end of the period	1,062,540	762,222
Company-sponsored investment funds
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized losses (gains) on investments	52,115	(21,930)
Changes in assets and liabilities:
(Increase) decrease in investments	85,418	(11,683)
(Increase) decrease in other assets	54,129	3,688
Cash flows from financing activities:
(Redemptions) of non-controlling interest in consolidated company-sponsored investment funds, net	$ (75,091)	$ (36)

Business Description Organizati

Business Description Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description Organization and Basis of Presentation	Business Description Organization and Basis of Presentation Business Description We provide research, diversified investment management and related services globally to a broad range of clients. Our principal services include: • Institutional Services – servicing our institutional clients, including private and public pension plans, foundations and endowments, insurance companies, central banks and governments worldwide, and affiliates such as Equitable Holdings, Inc. ("EQH") and its respective subsidiaries, by means of separately-managed accounts, sub-advisory relationships, structured products, collective investment trusts, mutual funds, hedge funds and other investment vehicles. • Retail Services – servicing our retail clients, primarily by means of retail mutual funds sponsored by AB or an affiliated company, sub-advisory relationships with mutual funds sponsored by third parties, separately-managed account programs sponsored by financial intermediaries worldwide and other investment vehicles. • Private Wealth Management Services – servicing our private clients, including high-net-worth individuals and families, trusts and estates, charitable foundations, partnerships, private and family corporations, and other entities, by means of separately-managed accounts, hedge funds, mutual funds and other investment vehicles. • Bernstein Research Services – servicing institutional investors, such as pension fund, hedge fund and mutual fund managers, seeking high-quality fundamental research, quantitative services and brokerage-related services in equities and listed options. We also provide distribution, shareholder servicing, transfer agency services and administrative services to the mutual funds we sponsor. Our high-quality, in-depth research is the foundation of our business. Our research disciplines include economic, fundamental equity, fixed income and quantitative research. In addition, we have experts focused on multi-asset strategies, wealth management and alternative investments. We provide a broad range of investment services with expertise in: • Actively-managed equity strategies, with global and regional portfolios across capitalization ranges, concentration ranges and investment strategies, including value, growth and core equities; • Actively-managed traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; • Passive management, including index and enhanced index strategies; • Alternative investments, including hedge funds, fund of funds, direct lending and private equity; and • Multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds. Our services span various investment disciplines, including market capitalization ( e.g. , large-, mid- and small-cap equities), term ( e.g. , long-, intermediate- and short-duration debt securities), and geographic location ( e.g. , U.S., international, global, emerging markets, regional and local), in major markets around the world. Organization During the second quarter of 2018, AXA S.A. ("AXA") completed the sale of a minority stake in EQH through an initial public offering ("IPO"). Since then, AXA has completed additional offerings and taken other steps, most recently during the fourth quarter of 2019. As a result, AXA owned less than 10% of the outstanding common stock of EQH as of March 31, 2020 . As of March 31, 2020 , EQH owned approximately 4.1% of the issued and outstanding units representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. (“AB Holding Units”). AllianceBernstein Corporation (an indirect wholly-owned subsidiary of EQH, “General Partner”) is the general partner of both AllianceBernstein Holding L.P. (“AB Holding”) and AB. AllianceBernstein Corporation owns 100,000 general partnership units in AB Holding and a 1% general partnership interest in AB. As of March 31, 2020 , the ownership structure of AB, including limited partnership units outstanding as well as the general partner's 1% interest, was as follows: EQH and its subsidiaries 63.4 % AB Holding 35.9 Unaffiliated holders 0.7 100.0 % Including both the general partnership and limited partnership interests in AB Holding and AB, EQH and its subsidiaries had an approximate 64.9% economic interest in AB as of March 31, 2020 . Basis of Presentation The interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim results, have been made. The preparation of the condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed consolidated statement of financial condition as of December 31, 2019 was derived from audited financial statements, but it does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). Principles of Consolidation The condensed consolidated financial statements include AB and its majority-owned and/or controlled subsidiaries, and the consolidated entities that are considered to be variable interest entities (“VIEs”) and voting interest entities (“VOEs”) in which AB has a controlling financial interest. Non-controlling interests on the condensed consolidated statements of financial condition include the portion of consolidated company-sponsored investment funds in which we do not have direct equity ownership. All significant inter-company transactions and balances among the consolidated entities have been eliminated. Reclassifications During 2020, prior period amounts for the changes in right-of-use assets and lease liabilities previously presented with amounts related to the adoption of ASC 842 in our Condensed Consolidated Statement of Cash Flows, are now presented net of the adoption impact of ASU 842 to conform to the current period's presentation.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) . This new guidance relates to the accounting for credit losses on financial instruments and introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment . The guidance removes Step 2 of the goodwill impairment test, which had required a hypothetical purchase price allocation. As a result of the revised guidance, a goodwill impairment will be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The amendment modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements that currently exist in GAAP for capitalizing implementation costs incurred to develop or obtain internal-use software. Implementation costs would either be capitalized or expensed as incurred depending on the project stage. All costs in the preliminary and post-implementation project stages are expensed as incurred, while certain costs within the application development stage are capitalized. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. Accounting Pronouncements Not Yet Adopted in 2020 In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20) . The amendment modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The revised guidance is effective for financial statements issued for fiscal years beginning after December 15, 2020, with early adoption permitted. The revised guidance will not have a material impact on our financial condition or results of operations. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The amendments simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify US GAAP for other areas of Topic 740 by clarifying and amending the existing guidance. The revised guidance is effective for financial statements issued for fiscal years beginning after December 15, 2020, with early adoption permitted. The revised guidance will not have a material impact on our financial condition or results of operations. Goodwill Goodwill is tested annually, as of September 30, for impairment. Throughout the year, the carrying value of goodwill is also reviewed for impairment if certain events or changes in circumstances occur, and trigger whether an interim impairment test may be required. Such changes in circumstances may be, but not limited to, sustained decrease in AB Holding Unit price or declines in market capitalization that would suggest that the fair value of the reporting unit is less than the carrying amount; significant and unanticipated declines in assets under management, revenues, or lower than expected earnings in the current quarter, next quarter or year. Any of these changes in circumstances could suggest the possibility that goodwill is impaired, however, none of these events or circumstances by itself would indicate that it is more likely than not that goodwill is impaired, they are merely recognized as triggering events for the consideration of impairment and must be viewed in combination with any mitigating or positive factors. A holistic evaluation of all events since the most recent quantitative impairment test must be done to determine whether it is more likely than not that the reporting unit is impaired. As of January 1, 2020, we adopted ASU 2017-04, Simplifying the Test for Goodwill Impairment . The guidance removes Step 2 of the goodwill impairment test, which had required a hypothetical purchase price allocation. As a result of the revised guidance, a goodwill impairment will be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Under this guidance, the goodwill impairment test no longer includes a determination by management of whether a decline in fair value is temporary; however, it is important to consider how the severity and anticipated duration of the current market conditions is reflected in management's determination of fair value. We have determined that AB has only one reporting segment and reporting unit. As of March 31, 2020, there was $3.1 billion of goodwill recorded on the consolidated statement of financial condition. During the first quarter of 2020, the unit price per AB Holding Unit declined significantly in response to the precipitous decline in the financial markets. As such, we performed an interim impairment evaluation of goodwill utilizing the Market Approach where the fair value of the reporting unit is based on its unadjusted market valuation (AB Holding Units outstanding multiplied by AB Holding’s Unit price). We have considered the results of the market approach analysis performed along with a number of other factors (including current market conditions) and determined that the fair value of the reporting unit exceeded its carrying value as of March 31, 2020. As such, no goodwill impairment existed. We will continue to monitor and evaluate any events that may trigger an impairment of goodwill.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenues for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended March 31, 2020 2019 (in thousands) Subject to contracts with customers: Investment advisory and services fees Base fees $ 613,587 $ 552,230 Performance-based fees 8,138 4,364 Bernstein research services 129,223 90,235 Distribution revenues All-in-management fees 86,357 61,773 12b-1 fees 19,453 19,586 Other 25,047 19,150 Other revenues Shareholder servicing fees 20,843 17,830 Other 4,672 4,018 907,320 769,186 Not subject to contracts with customers: Dividend and interest income, net of interest expense 11,146 10,183 Investment (losses) gains (44,306 ) 15,735 Other revenues (4 ) 358 (33,164 ) 26,276 Total net revenues $ 874,156 $ 795,462

Long-term Incentive Compensatio

Long-term Incentive Compensation Plans	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Long-term Incentive Compensation Plans	Long-term Incentive Compensation Plans We maintain several unfunded, non-qualified long-term incentive compensation plans, under which we grant annual awards to employees, generally in the fourth quarter, and to members of the Board of Directors of the General Partner, who are not employed by our company or by any of our affiliates (“Eligible Directors”). We fund our restricted AB Holding Unit awards either by purchasing AB Holding Units on the open market or purchasing newly-issued AB Holding Units from AB Holding, and then keeping these AB Holding Units in a consolidated rabbi trust until delivering them or retiring them. In accordance with the Amended and Restated Agreement of Limited Partnership of AB (“AB Partnership Agreement”), when AB purchases newly-issued AB Holding Units from AB Holding, AB Holding is required to use the proceeds it receives from AB to purchase the equivalent number of newly-issued AB Units, thus increasing its percentage ownership interest in AB. AB Holding Units held in the consolidated rabbi trust are corporate assets in the name of the trust and are available to the general creditors of AB. Repurchases of AB Holding Units for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended 2020 2019 (in millions) Total amount of AB Holding Units Purchased (1) 0.9 2.0 Total Cash Paid for AB Holding Units Purchased (1) $ 19.8 $ 58.6 Open Market Purchases of AB Holding Units Purchased (2) 0.8 1.9 Total Cash Paid for Open Market Purchases of AB Holding Units (2) $ 17.3 $ 55.2 (1) Purchased on a trade date basis. (2) The remainder related to purchases of AB Holding Units from employees to all them to fulfill statutory tax withholding requirements at the time of delivery of long-term incentive compensation award Purchases of AB Holding Units reflected on the condensed consolidated statements of cash flows are net of AB Holding Unit purchases by employees as part of a distribution reinvestment election. Each quarter, we consider whether to implement a plan to repurchase AB Holding Units pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended ("Exchange Act"). A plan of this type allows a company to repurchase its shares at times when it otherwise might be prevented from doing so because of self-imposed trading blackout periods or because it possesses material non-public information. Each broker we select has the authority under the terms and limitations specified in the plan to repurchase AB Holding Units on our behalf in accordance with the terms of the plan. Repurchases are subject to regulations promulgated by the SEC as well as certain price, market volume and timing constraints specified in the plan. The plan adopted during the first quarter of 2020 expired at the close of business on April 27, 2020. We may adopt additional plans in the future to engage in open-market purchases of AB Holding Units to help fund anticipated obligations under our incentive compensation award program and for other corporate purposes. During the first three months of both 2020 and 2019 , we granted to employees and Eligible Directors 0.1 million restricted AB Holding Unit awards. We used AB Holding Units repurchased during the applicable period and newly-issued AB Holding Units to fund these awards. During the first three months of 2020 and 2019 , AB Holding issued 5,182 and 0.3 million AB Holding Units, respectively, upon exercise of options to buy AB Holding Units. AB Holding used the proceeds of $0.1 million and $7.4 million

Net Income per Unit

Net Income per Unit	3 Months Ended
	Mar. 31, 2020
Earnings Per Unit [Abstract]
Net Income per Unit	Net Income per Unit Basic net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the basic weighted average number of limited partnership units outstanding for each period. Diluted net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the total of the diluted weighted average number of limited partnership units outstanding for each period. Three Months Ended March 31, 2020 2019 (in thousands, except per unit amounts) Net income attributable to AB Unitholders $ 194,320 $ 149,114 Weighted average limited partnership units outstanding – basic 270,498 267,336 Dilutive effect of compensatory options to buy AB Holding Units 32 72 Weighted average limited partnership units outstanding – diluted 270,530 267,408 Basic net income per AB Unit $ 0.71 $ 0.55 Diluted net income per AB Unit $ 0.71 $ 0.55 Three Months Ended March 31, 2020 2019 (amounts as shown) Anti-dilutive options excluded from diluted net income 29,056 29,056

Cash Distributions

Cash Distributions	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Cash Distributions	Cash Distributions AB is required to distribute all of its Available Cash Flow, as defined in the AB Partnership Agreement, to its Unitholders and to the General Partner. Available Cash Flow can be summarized as the cash flow received by AB from operations minus such amounts as the General Partner determines, in its sole discretion, should be retained by AB for use in its business, or plus such amounts as the General Partner determines, in its sole discretion, should be released from previously retained cash flow. Typically, Available Cash Flow has been the adjusted diluted net income per unit for the quarter multiplied by the number of general and limited partnership interests at the end of the quarter. In future periods, management anticipates that Available Cash Flow will be based on adjusted diluted net income per unit, unless management determines, with the concurrence of the Board of Directors, that one or more adjustments that are made for adjusted net income should not be made with respect to the Available Cash Flow calculation. On April 28, 2020 , the General Partner declared a distribution of $0.71 per AB Unit, representing a distribution of Available Cash Flow for the three months ended March 31, 2020 . The General Partner, as a result of its 1% general partnership interest, is entitled to receive 1% of each distribution. The distribution is payable on May 28, 2020 to holders of record on May 11, 2020

Cash and Securities Segregated

Cash and Securities Segregated Under Federal Regulations and Other Requirements	3 Months Ended
	Mar. 31, 2020
Brokers and Dealers [Abstract]
Cash and Securities Segregated Under Federal Regulations and Other Requirements	Cash and Securities Segregated Under Federal Regulations and Other Requirements As of March 31, 2020 and December 31, 2019 , $2.0 billion and $1.1 billion

Investments

Investments	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of: March 31, December 31, (in thousands) Equity securities: Long-term incentive compensation-related $ 25,655 $ 36,665 Seed capital 70,361 70,464 Other 58,423 73,202 Exchange-traded options 36,783 6,931 Investments in limited partnership hedge funds: Long-term incentive compensation-related 11,661 14,237 Seed capital 30,732 33,124 Time deposits 17,303 18,281 Other 11,590 13,890 Total investments $ 262,508 $ 266,794 Total investments related to long-term incentive compensation obligations of $37.3 million and $50.9 million as of March 31, 2020 and December 31, 2019 , respectively, consist of company-sponsored mutual funds and hedge funds. For long-term incentive compensation awards granted before 2009, we typically made investments in company-sponsored mutual funds and hedge funds that were notionally elected by plan participants and maintained them (and continue to maintain them) in a consolidated rabbi trust or separate custodial account. The rabbi trust and custodial account enable us to hold such investments separate from our other assets for the purpose of settling our obligations to participants. The investments held in the rabbi trust and custodial account remain available to the general creditors of AB. The underlying investments of the hedge funds in which we invest include long and short positions in equity securities, fixed income securities (including various agency and non-agency asset-based securities), currencies, commodities and derivatives (including various swaps and forward contracts). These investments are valued at quoted market prices or, where quoted market prices are not available, are fair valued based on the pricing policies and procedures of the underlying funds. We allocate seed capital to our investment teams to help develop new products and services for our clients. A portion of our seed capital investments are equity and fixed income products, primarily in the form of separately-managed account portfolios, U.S. mutual funds, Luxembourg funds, Japanese investment trust management funds or Delaware business trusts. We also may allocate seed capital to investments in private equity funds. In regard to our seed capital investments, the amounts above reflect those funds in which we are not the primary beneficiary of a VIE or hold a controlling financial interest in a VOE. See Note 14 , Consolidated Company-Sponsored Investment Funds , for a description of the seed capital investments that we consolidate. As of March 31, 2020 and December 31, 2019 , our total seed capital investments were $340.8 million and $358.1 million , respectively. Seed capital investments in unconsolidated company-sponsored investment funds are valued using published net asset values or non-published net asset values if they are not listed on an active exchange but have net asset values that are comparable to funds with published net asset values and have no redemption restrictions. In addition, we also have long positions in corporate equities and long exchange-traded options traded through our options desk. The portion of unrealized gains (losses) related to equity securities, as defined by ASC 321-10, held as of March 31, 2020 and 2019 were as follows: Three Months Ended March 31, 2020 2019 (in thousands) Net (losses) gains recognized during the period $ (21,986 ) $ 13,994 Less: net (losses) gains recognized during the period on equity securities sold during the period (1,395 ) 3,132 Unrealized (losses) gains recognized during the period on equity securities held $ (20,591 ) $ 10,862

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments See Note 14 , Consolidated Company-Sponsored Investment Funds , for disclosure of derivative instruments held by our consolidated company-sponsored investment funds. We enter into various futures, forwards, options and swaps to economically hedge certain seed capital investments. Also, we have currency forwards that help us to economically hedge certain balance sheet exposures. In addition, our options desk trades long and short exchange-traded equity options. We do not hold any derivatives designated in a formal hedge relationship under ASC 815-10, Derivatives and Hedging . The notional value and fair value as of March 31, 2020 and December 31, 2019 for derivative instruments (excluding derivative instruments relating to our options desk trading activities discussed below ) not designated as hedging instruments were as follows: Fair Value Notional Value Derivative Assets Derivative Liabilities (in thousands) March 31, 2020: Exchange-traded futures $ 175,080 $ 1,505 $ 4,895 Currency forwards 85,003 8,414 7,943 Interest rate swaps 82,780 2,886 3,641 Credit default swaps 275,733 16,238 15,294 Total return swaps 90,608 2,351 8,283 Option swaps 354 1,172 — Total derivatives $ 709,558 $ 32,566 $ 40,056 December 31, 2019: Exchange-traded futures $ 171,112 $ 939 $ 871 Currency forwards 60,809 8,545 8,633 Interest rate swaps 92,756 1,746 2,254 Credit default swaps 168,303 2,151 5,611 Total return swaps 91,201 110 1,764 Option swaps 354 — 126 Total derivatives $ 584,535 $ 13,491 $ 19,259 As of March 31, 2020 and December 31, 2019 , the derivative assets and liabilities are included in both receivables and payables to brokers and dealers on our condensed consolidated statements of financial condition. The gains and losses for derivative instruments (excluding our options desk trading activities discussed below ) for the three months ended March 31, 2020 and 2019 recognized in investment gains (losses) in the condensed consolidated statements of income were as follows: Three Months Ended March 31, 2020 2019 Exchange-traded futures $ 1,006 $ (5,115 ) Currency forwards 658 (40 ) Interest rate swaps (612 ) (314 ) Credit default swaps 12,101 (2,340 ) Total return swaps 15,115 (11,956 ) Option swaps 1,298 — Net gains (losses) on derivative instruments $ 29,566 $ (19,765 ) We may be exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments. We minimize our counterparty exposure through a credit review and approval process. In addition, we have executed various collateral arrangements with counterparties to the over-the-counter derivative transactions that require both pledging and accepting collateral in the form of cash. As of March 31, 2020 and December 31, 2019 , we held $8.5 million and $0.3 million , respectively, of cash collateral payable to trade counterparties. This obligation to return cash is reported in payables to brokers and dealers in our condensed consolidated statements of financial condition. Although notional amount is the most commonly used measure of volume in the derivative market, it is not used as a measure of credit risk. Generally, the current credit exposure of our derivative contracts is limited to the net positive estimated fair value of derivative contracts at the reporting date after taking into consideration the existence of netting agreements and any collateral received. A derivative with positive value (a derivative asset) indicates existence of credit risk because the counterparty would owe us if the contract were closed. Alternatively, a derivative contract with negative value (a derivative liability) indicates we would owe money to the counterparty if the contract were closed. Generally, if there is more than one derivative transaction with a single counterparty, a master netting arrangement exists with respect to derivative transactions with that counterparty to provide for aggregate net settlement. Certain of our standardized contracts for over-the-counter derivative transactions (“ISDA Master Agreements”) contain credit risk related contingent provisions pertaining to each counterparty’s credit rating. In some ISDA Master Agreements, if the counterparty’s credit rating, or in some agreements, our assets under management (“AUM”), falls below a specified threshold, a termination event permitting us or the counterparty to terminate the ISDA Master Agreement would be triggered. In all agreements that provide for collateralization, various levels of collateralization of net liability positions are applicable, depending on the credit rating of the counterparty. As of March 31, 2020 and December 31, 2019 , we delivered $9.6 million and $4.3 million , respectively, of cash collateral into brokerage accounts. We report this cash collateral in cash and cash equivalents in our condensed consolidated statements of financial condition. As of March 31, 2020 and December 31, 2019 , we held $36.8 million and $6.9 million , respectively, of long exchange-traded equity options, which are included in other investments on our condensed consolidated statements of financial condition. In addition, as of March 31, 2020 and December 31, 2019 , we held $15.9 million and $12.3 million , respectively, of short exchange-traded equity options, which are included in securities sold not yet purchased on our condensed consolidated statements of financial condition. Our options desk provides our clients with equity derivative strategies and execution for exchange-traded options on single stocks, exchange-traded funds and indices. While predominately agency-based, the options desk may commit capital to facilitate a client’s transaction. Our options desk hedges the risks associated with this activity by taking offsetting positions in equities. For the three months ended March 31, 2020 and 2019 , we recognized a gain of $18.4 million and a loss of $7.6 million

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	3 Months Ended
	Mar. 31, 2020
Offsetting [Abstract]
Offsetting Assets and Liabilities	Offsetting Assets and Liabilities See Note 14 , Consolidated Company-Sponsored Investment Funds , for disclosure of offsetting assets and liabilities of our consolidated company-sponsored investment funds. Offsetting of assets as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount (in thousands) March 31, 2020: Securities borrowed $ 45,470 $ — $ 45,470 $ (37,959 ) $ — $ 7,511 Derivatives $ 32,566 $ — $ 32,566 $ — $ (8,479 ) $ 24,087 Long exchange-traded options $ 36,783 $ — $ 36,783 $ — $ — $ 36,783 December 31, 2019: Securities borrowed $ 38,993 $ — $ 38,993 $ (38,993 ) $ — $ — Derivatives $ 13,491 $ — $ 13,491 $ — $ (251 ) $ 13,240 Long exchange-traded options $ 6,931 $ — $ 6,931 $ — $ — $ 6,931 Offsetting of liabilities as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount (in thousands) March 31, 2020: Derivatives $ 40,056 $ — $ 40,056 $ — $ (9,644 ) $ 30,412 Short exchange-traded options $ 15,884 $ — $ 15,884 $ — $ — $ 15,884 December 31, 2019: Derivatives $ 19,259 $ — $ 19,259 $ — $ (4,276 ) $ 14,983 Short exchange-traded options $ 12,348 $ — $ 12,348 $ — $ — $ 12,348 Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value	Fair Value See Note 14 , Consolidated Company-Sponsored Investment Funds , for disclosure of fair value of our consolidated company-sponsored investment funds. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability ( i.e. , the “exit price”) in an orderly transaction between market participants at the measurement date. The three broad levels of fair value hierarchy are as follows: • Level 1 – Quoted prices in active markets are available for identical assets or liabilities as of the reported date. • Level 2 – Quoted prices in markets that are not active or other pricing inputs that are either directly or indirectly observable as of the reported date. • Level 3 – Prices or valuation techniques that are both significant to the fair value measurement and unobservable as of the reported date. These financial instruments do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. Assets and Liabilities Measured at Fair Value on a Recurring Basis Valuation of our financial instruments by pricing observability levels as of March 31, 2020 and December 31, 2019 was as follows (in thousands): Level 1 Level 2 Level 3 NAV Expedient (1) Other Total March 31, 2020: Money markets $ 123,767 $ — $ — $ — $ — $ 123,767 Securities segregated (U.S. Treasury Bills) — 2,012,198 — — — 2,012,198 Derivatives 1,505 31,061 — — — 32,566 Investments Equity securities 136,573 17,589 118 159 — 154,439 Long exchange-traded options 36,783 — — — — 36,783 Limited partnership hedge funds (2) — — — — 42,393 42,393 Time deposits (3) — — — — 17,303 17,303 Other investments 4,637 — — — 6,953 11,590 Total investments 177,993 17,589 118 159 66,649 262,508 Total assets measured at fair value $ 303,265 $ 2,060,848 $ 118 $ 159 $ 66,649 $ 2,431,039 Securities sold not yet purchased Short equities – corporate $ 11,745 $ — $ — $ — $ — $ 11,745 Short exchange-traded options 15,884 — — — — 15,884 Derivatives 4,895 35,161 — — — 40,056 Contingent payment arrangements — — 23,704 — — 23,704 Total liabilities measured at fair value $ 32,524 $ 35,161 $ 23,704 $ — $ — $ 91,389 Level 1 Level 2 Level 3 NAV Expedient (1) Other Total December 31, 2019: Money markets $ 126,401 $ — $ — $ — $ — $ 126,401 Securities segregated (U.S. Treasury Bills) — 1,094,866 — — — 1,094,866 Derivatives 939 12,552 — — — 13,491 Investments Equity securities 170,946 8,952 119 314 — 180,331 Long exchange-traded options 6,931 — — — — 6,931 Limited partnership hedge funds (2) — — — — 47,361 47,361 Time deposits (3) — — — — 18,281 18,281 Other investments 5,883 — — — 8,007 13,890 Total investments 183,760 8,952 119 314 73,649 266,794 Total assets measured at fair value $ 311,100 $ 1,116,370 $ 119 $ 314 $ 73,649 $ 1,501,552 Securities sold not yet purchased Short equities – corporate $ 17,809 $ — $ — $ — $ — $ 17,809 Short exchange-traded options 12,348 — — — — 12,348 Derivatives 871 18,388 — — — 19,259 Contingent payment arrangements — — 22,911 — — 22,911 Total liabilities measured at fair value $ 31,028 $ 18,388 $ 22,911 $ — $ — $ 72,327 (1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Investments in equity method investees that are not measured at fair value in accordance with GAAP. (3) Investments carried at amortized cost that are not measured at fair value in accordance with GAAP. Other investments include (i) an investment in a software publishing company that does not have a readily available fair value ( $1.0 million as of both March 31, 2020 and December 31, 2019 ), (ii) an investment in a start-up company that does not have a readily available fair value (this investment was written down to zero as of March 31, 2020 and was $0.9 million as of December 31, 2019 ), (iii) an investment in an equity method investee that is not measured at fair value in accordance with GAAP ( $2.7 million as of March 31, 2020 and $2.9 million as of December 31, 2019 ), and (iv) broker dealer exchange memberships that are not measured at fair value in accordance with GAAP ( $3.2 million as of both March 31, 2020 and December 31, 2019 ). We provide below a description of the fair value methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy: • Money markets : We invest excess cash in various money market funds that are valued based on quoted prices in active markets; these are included in Level 1 of the valuation hierarchy. • Treasury Bills : We hold U.S. Treasury Bills, which are primarily segregated in a special reserve bank custody account as required by Rule 15c3-3 of the Exchange Act. These securities are valued based on quoted yields in secondary markets and are included in Level 2 of the valuation hierarchy. • Equity securities : Our equity securities consist principally of company-sponsored mutual funds with NAVs and various separately-managed portfolios consisting primarily of equity and fixed income mutual funds with quoted prices in active markets, which are included in Level 1 of the valuation hierarchy. In addition, some securities are valued based on observable inputs from recognized pricing vendors, which are included in Level 2 of the valuation hierarchy. • Derivatives : We hold exchange-traded futures with counterparties that are included in Level 1 of the valuation hierarchy. In addition, we also hold currency forward contracts, interest rate swaps, credit default swaps, option swaps and total return swaps with counterparties that are valued based on observable inputs from recognized pricing vendors, which are included in Level 2 of the valuation hierarchy. • Options : We hold long exchange-traded options that are included in Level 1 of the valuation hierarchy. • Securities sold not yet purchased : Securities sold not yet purchased, primarily reflecting short positions in equities and exchange-traded options, are included in Level 1 of the valuation hierarchy. • Contingent payment arrangements : Contingent payment arrangements relate to contingent payment liabilities associated with various acquisitions. At each reporting date, we estimate the fair values of the contingent consideration expected to be paid based upon probability-weighted AUM and revenue projections, using unobservable market data inputs, which are included in Level 3 of the valuation hierarchy. During the three months ended March 31, 2020 there were no transfers between Level 2 and Level 3 securities. The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as private equity and equity securities, is as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 119 $ 142 Purchases — — Sales — — Realized gains (losses), net — — Unrealized gains (losses), net (1 ) (27 ) Balance as of end of period $ 118 $ 115 Realized and unrealized gains and losses on Level 3 financial instruments are recorded in investment gains and losses in the condensed consolidated statements of income. We acquired Autonomous Research LLP ("Autonomous") in 2019 and Ramius Alternative Solutions LLC in 2016, both of which included contingent consideration arrangements as part of the purchase price. The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as contingent payment arrangements, is as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 22,911 $ 7,336 Addition — — Accretion 793 54 Payments — — Balance as of end of period $ 23,704 $ 7,390 During 2019, we recorded a $17.4 million contingent consideration payable for our 2019 acquisition based on projected fee revenues over a five-year measurement period. The liability was valued using expected revenue growth rates ranging from 0.7% to 2.5% and a discount rate of 10.4% , reflecting a 3.5% risk-free rate, based on our cost of debt, and a 6.9% market price of risk adjustment rate. Additionally, we recorded a $ 3.1 million change in estimate for the contingent consideration payable related to our 2016 acquisition. The liability relating to our 2016 acquisition was valued using a revised revenue growth rate of 50% over the remaining measurement periods and a 3.0% discount rate. As of March 31, 2020 and December 31, 2019 , acquisition-related contingent liabilities with a fair value of $23.7 million and $22.9 million , respectively, remain relating to our 2019 and 2016 acquisitions. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We did not have any material assets or liabilities that were measured at fair value for impairment on a nonrecurring basis during the three months ended March 31, 2020 or during the year ended December 31, 2019

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings With respect to all significant litigation matters, we consider the likelihood of a negative outcome. If we determine the likelihood of a negative outcome is probable and the amount of the loss can be reasonably estimated, we record an estimated loss for the expected outcome of the litigation. If the likelihood of a negative outcome is reasonably possible and we are able to determine an estimate of the possible loss or range of loss in excess of amounts already accrued, if any, we disclose that fact together with the estimate of the possible loss or range of loss. However, it is often difficult to predict the outcome or estimate a possible loss or range of loss because litigation is subject to inherent uncertainties, particularly when plaintiffs allege substantial or indeterminate damages. Such is also the case when the litigation is in its early stages or when the litigation is highly complex or broad in scope. In these cases, we disclose that we are unable to predict the outcome or estimate a possible loss or range of loss. AB may be involved in various matters, including regulatory inquiries, administrative proceedings and litigation, some of which may allege significant damages. It is reasonably possible that we could incur losses pertaining to these matters, but we cannot currently estimate any such losses.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases We lease office space, furniture and office equipment under various operating and financing leases. Our current leases have remaining lease terms of one year to 11 years , some of which include options to extend the leases for up to five years , and some of which include options to terminate the leases within one year . Since 2010, we have sub-leased over one million square feet of office space. On January 1, 2019, the previously recorded liability relating to our global space consolidation initiatives of $85.8 million was offset as a reduction to our operating right-of-use assets. Leases included in the condensed consolidated statement of financial condition as of March 31, 2020 and December 31, 2019 were as follows: Classification March 31, 2020 December 31, 2019 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 337,933 $ 360,185 Operating lease liabilities Lease liabilities 438,854 465,907 Finance Leases Property and equipment, gross Right-of-use assets 5,167 3,825 Amortization of right-of-use assets Right-of-use assets (1,440 ) (1,317 ) Property and equipment, net 3,727 2,508 Finance lease liabilities Lease liabilities 3,736 2,544 The components of lease expense included in the condensed consolidated statement of income as of March 31, 2020 and March 31, 2019 were as follows: Three Months Ended March 31, Classification 2020 2019 (in thousands) Operating lease cost General and administrative $ 23,004 $ 27,141 Financing lease cost: Amortization of right-of-use assets General and administrative 477 286 Interest on lease liabilities Interest expense 26 17 Total finance lease cost 503 303 Variable lease cost (1) General and administrative 9,477 9,873 Sublease income General and administrative (9,615 ) (14,463 ) Net lease cost $ 23,369 $ 22,854 (1) Variable lease expense includes operating expenses, real estate taxes and employee parking. The sub-lease income represents all revenues received from sub-tenants. It is primarily fixed base rental payments combined with variable reimbursements such as operating expenses, real estate taxes and employee parking. The vast majority of sub-tenant income is derived from our New York metro sub-tenant agreements. Sub-tenant income related to base rent is recorded on a straight-line basis. Maturities of lease liabilities were as follows: Operating Leases Financing Leases Total Year ending December 31, (in thousands) 2020 (excluding the three months ended March 31, 2020) $ 81,317 $ 1,420 $ 82,737 2021 103,630 1,142 104,772 2022 89,572 757 90,329 2023 82,505 526 83,031 2024 79,600 23 79,623 Thereafter 42,974 — 42,974 Total lease payments 479,598 3,868 483,466 Less interest (40,744 ) (132 ) Present value of lease liabilities $ 438,854 $ 3,736 During October 2018, we signed a lease, which commences in mid-2020, relating to 218,976 square feet of space at our new Nashville headquarters. Our estimated total base rent obligation (excluding taxes, operating expenses and utilities) over the 15 -year initial lease term is $134 million . During April 2019, we signed a lease, which commences in 2024, relating to approximately 190,000 square feet of space in New York City. Our estimated total base rent obligation (excluding taxes, operating expenses and utilities) over the 20 -year lease term is approximately $448 million . Lease term and discount rate: Weighted average remaining lease term (years) Operating leases 5.04 Finance leases 2.87 Weighted average discount rate Operating leases 3.52 % Finance leases 2.71 % Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 29,698 $ 35,728 Operating cash flows from financing leases 26 17 Financing cash flows from finance leases 504 282 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases — 2,289 Finance leases 1,695 — (1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statements of cash flows.
Leases	Leases We lease office space, furniture and office equipment under various operating and financing leases. Our current leases have remaining lease terms of one year to 11 years , some of which include options to extend the leases for up to five years , and some of which include options to terminate the leases within one year . Since 2010, we have sub-leased over one million square feet of office space. On January 1, 2019, the previously recorded liability relating to our global space consolidation initiatives of $85.8 million was offset as a reduction to our operating right-of-use assets. Leases included in the condensed consolidated statement of financial condition as of March 31, 2020 and December 31, 2019 were as follows: Classification March 31, 2020 December 31, 2019 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 337,933 $ 360,185 Operating lease liabilities Lease liabilities 438,854 465,907 Finance Leases Property and equipment, gross Right-of-use assets 5,167 3,825 Amortization of right-of-use assets Right-of-use assets (1,440 ) (1,317 ) Property and equipment, net 3,727 2,508 Finance lease liabilities Lease liabilities 3,736 2,544 The components of lease expense included in the condensed consolidated statement of income as of March 31, 2020 and March 31, 2019 were as follows: Three Months Ended March 31, Classification 2020 2019 (in thousands) Operating lease cost General and administrative $ 23,004 $ 27,141 Financing lease cost: Amortization of right-of-use assets General and administrative 477 286 Interest on lease liabilities Interest expense 26 17 Total finance lease cost 503 303 Variable lease cost (1) General and administrative 9,477 9,873 Sublease income General and administrative (9,615 ) (14,463 ) Net lease cost $ 23,369 $ 22,854 (1) Variable lease expense includes operating expenses, real estate taxes and employee parking. The sub-lease income represents all revenues received from sub-tenants. It is primarily fixed base rental payments combined with variable reimbursements such as operating expenses, real estate taxes and employee parking. The vast majority of sub-tenant income is derived from our New York metro sub-tenant agreements. Sub-tenant income related to base rent is recorded on a straight-line basis. Maturities of lease liabilities were as follows: Operating Leases Financing Leases Total Year ending December 31, (in thousands) 2020 (excluding the three months ended March 31, 2020) $ 81,317 $ 1,420 $ 82,737 2021 103,630 1,142 104,772 2022 89,572 757 90,329 2023 82,505 526 83,031 2024 79,600 23 79,623 Thereafter 42,974 — 42,974 Total lease payments 479,598 3,868 483,466 Less interest (40,744 ) (132 ) Present value of lease liabilities $ 438,854 $ 3,736 During October 2018, we signed a lease, which commences in mid-2020, relating to 218,976 square feet of space at our new Nashville headquarters. Our estimated total base rent obligation (excluding taxes, operating expenses and utilities) over the 15 -year initial lease term is $134 million . During April 2019, we signed a lease, which commences in 2024, relating to approximately 190,000 square feet of space in New York City. Our estimated total base rent obligation (excluding taxes, operating expenses and utilities) over the 20 -year lease term is approximately $448 million . Lease term and discount rate: Weighted average remaining lease term (years) Operating leases 5.04 Finance leases 2.87 Weighted average discount rate Operating leases 3.52 % Finance leases 2.71 % Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 29,698 $ 35,728 Operating cash flows from financing leases 26 17 Financing cash flows from finance leases 504 282 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases — 2,289 Finance leases 1,695 — (1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statements of cash flows.
Leases	Leases We lease office space, furniture and office equipment under various operating and financing leases. Our current leases have remaining lease terms of one year to 11 years , some of which include options to extend the leases for up to five years , and some of which include options to terminate the leases within one year . Since 2010, we have sub-leased over one million square feet of office space. On January 1, 2019, the previously recorded liability relating to our global space consolidation initiatives of $85.8 million was offset as a reduction to our operating right-of-use assets. Leases included in the condensed consolidated statement of financial condition as of March 31, 2020 and December 31, 2019 were as follows: Classification March 31, 2020 December 31, 2019 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 337,933 $ 360,185 Operating lease liabilities Lease liabilities 438,854 465,907 Finance Leases Property and equipment, gross Right-of-use assets 5,167 3,825 Amortization of right-of-use assets Right-of-use assets (1,440 ) (1,317 ) Property and equipment, net 3,727 2,508 Finance lease liabilities Lease liabilities 3,736 2,544 The components of lease expense included in the condensed consolidated statement of income as of March 31, 2020 and March 31, 2019 were as follows: Three Months Ended March 31, Classification 2020 2019 (in thousands) Operating lease cost General and administrative $ 23,004 $ 27,141 Financing lease cost: Amortization of right-of-use assets General and administrative 477 286 Interest on lease liabilities Interest expense 26 17 Total finance lease cost 503 303 Variable lease cost (1) General and administrative 9,477 9,873 Sublease income General and administrative (9,615 ) (14,463 ) Net lease cost $ 23,369 $ 22,854 (1) Variable lease expense includes operating expenses, real estate taxes and employee parking. The sub-lease income represents all revenues received from sub-tenants. It is primarily fixed base rental payments combined with variable reimbursements such as operating expenses, real estate taxes and employee parking. The vast majority of sub-tenant income is derived from our New York metro sub-tenant agreements. Sub-tenant income related to base rent is recorded on a straight-line basis. Maturities of lease liabilities were as follows: Operating Leases Financing Leases Total Year ending December 31, (in thousands) 2020 (excluding the three months ended March 31, 2020) $ 81,317 $ 1,420 $ 82,737 2021 103,630 1,142 104,772 2022 89,572 757 90,329 2023 82,505 526 83,031 2024 79,600 23 79,623 Thereafter 42,974 — 42,974 Total lease payments 479,598 3,868 483,466 Less interest (40,744 ) (132 ) Present value of lease liabilities $ 438,854 $ 3,736 During October 2018, we signed a lease, which commences in mid-2020, relating to 218,976 square feet of space at our new Nashville headquarters. Our estimated total base rent obligation (excluding taxes, operating expenses and utilities) over the 15 -year initial lease term is $134 million . During April 2019, we signed a lease, which commences in 2024, relating to approximately 190,000 square feet of space in New York City. Our estimated total base rent obligation (excluding taxes, operating expenses and utilities) over the 20 -year lease term is approximately $448 million . Lease term and discount rate: Weighted average remaining lease term (years) Operating leases 5.04 Finance leases 2.87 Weighted average discount rate Operating leases 3.52 % Finance leases 2.71 % Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 29,698 $ 35,728 Operating cash flows from financing leases 26 17 Financing cash flows from finance leases 504 282 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases — 2,289 Finance leases 1,695 — (1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statements of cash flows.

Consolidated Company-Sponsored

Consolidated Company-Sponsored Investment Funds	3 Months Ended
	Mar. 31, 2020
Consolidated Company-Sponsored Investment Funds [Abstract]
Consolidated Company-Sponsored Investment Funds	Consolidated Company-Sponsored Investment Funds We regularly provide seed capital to new company-sponsored investment funds. As such, we may consolidate or de-consolidate a variety of company-sponsored investment funds each quarter. Due to the similarity of risks related to our involvement with each company-sponsored investment fund, disclosures required under the VIE model are aggregated, such as disclosures regarding the carrying amount and classification of assets. We are not required to provide financial support to company-sponsored investment funds and only the assets of such funds are available to settle each fund's own liabilities. Our exposure to loss in regard to consolidated company-sponsored investment funds is limited to our investment in, and our management fee earned from, such funds. Equity and debt holders of such funds have no recourse to AB’s assets or to the general credit of AB. The balances of consolidated VIEs and VOEs included in our condensed consolidated statements of financial condition were as follows: March 31, 2020 December 31, 2019 (in thousands) VIEs VOEs Total VIEs VOEs Total Cash and cash equivalents $ 83,067 $ 4,210 $ 87,277 $ 9,623 $ 1,810 $ 11,433 Investments 273,445 170,027 443,472 404,624 176,380 581,004 Other assets 20,444 19,094 39,538 9,618 10,192 19,810 Total assets $ 376,956 $ 193,331 $ 570,287 $ 423,865 $ 188,382 $ 612,247 Liabilities $ 73,325 $ 31,550 $ 104,875 $ 12,147 $ 18,870 $ 31,017 Redeemable non-controlling interest 179,090 45,810 224,900 273,219 52,342 325,561 Partners' capital attributable to AB Unitholders 124,541 115,971 240,512 138,499 117,170 255,669 Total liabilities, redeemable non-controlling interest and partners' capital $ 376,956 $ 193,331 $ 570,287 $ 423,865 $ 188,382 $ 612,247 Fair Value Cash and cash equivalents include cash on hand, demand deposits, overnight commercial paper and highly liquid investments with original maturities of three months or less. Due to the short-term nature of these instruments, the recorded value has been determined to approximate fair value. Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of March 31, 2020 and December 31, 2019 was as follows (in thousands): Level 1 Level 2 Level 3 Total March 31, 2020: Investments - VIEs $ 19,040 $ 254,011 $ 394 $ 273,445 Investments - VOEs 77,460 92,427 140 170,027 Derivatives - VIEs 2,421 5,471 — 7,892 Derivatives - VOEs 187 13,154 — 13,341 Total assets measured at fair value $ 99,108 $ 365,063 $ 534 $ 464,705 Derivatives - VIEs 469 6,134 — 6,603 Derivatives - VOEs 252 12,461 — 12,713 Total liabilities measured at fair value $ 721 $ 18,595 $ — $ 19,316 December 31, 2019: Investments - VIEs $ 28,270 $ 375,559 $ 795 $ 404,624 Investments - VOEs 104,069 72,252 59 176,380 Derivatives - VIEs 139 4,694 — 4,833 Derivatives - VOEs 76 4,263 — 4,339 Total assets measured at fair value $ 132,554 $ 456,768 $ 854 $ 590,176 Derivatives - VIEs $ 835 $ 3,724 $ — $ 4,559 Derivatives - VOEs 101 4,982 — 5,083 Total liabilities measured at fair value $ 936 $ 8,706 $ — $ 9,642 See Note 11 for a description of the fair value methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. The change in carrying value associated with Level 3 financial instruments carried at fair value within consolidated company-sponsored investment funds was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 854 $ 8,373 Transfers (out) in 231 (97 ) Purchases 33 2,111 Sales (362 ) (284 ) Realized gains (losses), net — 2 Unrealized gains (losses), net (224 ) 149 Accrued discounts 2 7 Balance as of end of period $ 534 $ 10,261 The Level 3 securities primarily consist of corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. Transfers into and out of all levels of the fair value hierarchy are reflected at end-of-period fair values. Realized and unrealized gains and losses on Level 3 financial instruments are recorded in investment gains and losses in the condensed consolidated statements of income. Derivative Instruments As of March 31, 2020 and December 31, 2019 , the VIEs held $1.3 million and $0.3 million (net) of futures, forwards and swaps within their portfolios, respectively. For the three months ended March 31, 2020 and 2019, we recognized $1.7 million of losses and $1.1 million of gains, respectively, on these derivatives. These losses and gains are recognized in investment gains (losses) in the condensed consolidated statements of income. As of March 31, 2020 and December 31, 2019 , the VIEs held $33.1 million and $1.6 million , respectively, of cash collateral payable to trade counterparties. This obligation to return cash is reported in the liabilities of consolidated company-sponsored investment funds in our condensed consolidated statements of financial condition. As of March 31, 2020 and December 31, 2019 , the VIEs delivered $59.0 million and $3.2 million , respectively, of cash collateral into brokerage accounts. The VIEs report this cash collateral in the consolidated company-sponsored investment funds cash and cash equivalents in our condensed consolidated statements of financial condition. As of March 31, 2020 and December 31, 2019 , the VOEs held $0.6 million and $0.7 million , respectively, (net) of futures, forwards, options and swaps within their portfolios. For the three months ended March 31, 2020 and 2019, we recognized $0.1 million of losses and $0.1 million of gains, respectively, on these derivatives. These gains and losses are recognized in investment gains (losses) in the condensed consolidated statements of income. As of March 31, 2020 and December 31, 2019 , the VOEs held $0.6 million and $0.5 million , respectively, of cash collateral payable to trade counterparties. This obligation to return cash is reported in the liabilities of consolidated company-sponsored investment funds in our condensed consolidated statements of financial condition. As of March 31, 2020 and December 31, 2019 , the VOEs delivered $2.8 million and $1.2 million , respectively, of cash collateral in brokerage accounts. The VOEs report this cash collateral in the consolidated company-sponsored investment funds cash and cash equivalents in our condensed consolidated statements of financial condition. Offsetting Assets and Liabilities Offsetting of derivative assets of consolidated company-sponsored investment funds as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount (in thousands) March 31, 2020: Derivatives - VIEs $ 7,892 $ — $ 7,892 $ — $ (7,892 ) $ — Derivatives - VOEs $ 13,341 $ — $ 13,341 $ — $ (580 ) $ 12,761 December 31, 2019: Derivatives - VIEs $ 4,833 $ — $ 4,833 $ — $ (1,631 ) $ 3,202 Derivatives - VOEs $ 4,339 $ — $ 4,339 $ — $ (534 ) $ 3,805 Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount (in thousands) March 31, 2020: Derivatives - VIEs $ 6,603 $ — $ 6,603 $ — $ (6,603 ) $ — Derivatives - VOEs $ 12,713 $ — $ 12,713 $ — $ (2,797 ) $ 9,916 December 31, 2019: Derivatives - VIEs $ 4,559 $ — $ 4,559 $ — $ (3,155 ) $ 1,404 Derivatives - VOEs $ 5,083 $ — $ 5,083 $ — $ (1,201 ) $ 3,882 Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty. Non-Consolidated VIEs As of March 31, 2020 , the net assets of company-sponsored investment products that are non-consolidated VIEs are approximately $80.5 billion , and our maximum risk of loss is our investment of $6.7 million in these VIEs and our advisory fee receivables from these VIEs, which are not material.

Units Outstanding

Units Outstanding	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Units Outstanding	Units Outstanding Changes in AB Units outstanding during the three -month period ended March 31, 2020 were as follows: Outstanding as of December 31, 2019 270,380,314 Options exercised 5,182 Units issued 344,698 Units retired (748,763 ) Outstanding as of March 31, 2020 269,981,431

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt AB has an $800.0 million committed, unsecured senior revolving credit facility (the “Credit Facility”) with a group of commercial banks and other lenders, which matures on September 27, 2023. The Credit Facility provides for possible increases in the principal amount by up to an aggregate incremental amount of $200.0 million ; any such increase is subject to the consent of the affected lenders. The Credit Facility is available for AB and Sanford C. Bernstein & Co., LLC ("SCB LLC") business purposes, including the support of AB’s commercial paper program. Both AB and SCB LLC can draw directly under the Credit Facility and management may draw on the Credit Facility from time to time. AB has agreed to guarantee the obligations of SCB LLC under the Credit Facility. The Credit Facility contains affirmative, negative and financial covenants, which are customary for facilities of this type, including restrictions on dispositions of assets, restrictions on liens, a minimum interest coverage ratio and a maximum leverage ratio. As of March 31, 2020 , we were in compliance with these covenants. The Credit Facility also includes customary events of default (with customary grace periods, as applicable), including provisions under which, upon the occurrence of an event of default, all outstanding loans may be accelerated and/or lender’s commitments may be terminated. Also, under such provisions, upon the occurrence of certain insolvency- or bankruptcy-related events of default, all amounts payable under the Credit Facility would automatically become immediately due and payable, and the lender’s commitments automatically would terminate. Amounts under the Credit Facility may be borrowed, repaid and re-borrowed by us from time to time until the maturity of the facility. Voluntary prepayments and commitment reductions requested by us are permitted at any time without a fee (other than customary breakage costs relating to the prepayment of any drawn loans) upon proper notice and subject to a minimum dollar requirement. Borrowings under the Credit Facility bear interest at a rate per annum, which will be, at our option, a rate equal to an applicable margin, which is subject to adjustment based on the credit ratings of AB, plus one of the following indices: London Interbank Offered Rate; a floating base rate; or the Federal Funds rate. As of March 31, 2020 and December 31, 2019 , we had no amounts outstanding under the Credit Facility. During the first three months of 2020 and the full year 2019 , we did not draw upon the Credit Facility. In addition to the Credit Facility, AB has a $900.0 million committed, unsecured senior credit facility (“EQH Facility”) with EQH. The EQH Facility matures on November 4, 2024 and is available for AB's general business purposes. Borrowings under the EQH Facility generally bear interest at a rate per annum based on prevailing overnight commercial paper rates. The EQH Facility contains affirmative, negative and financial covenants which are substantially similar to those in AB’s committed bank facilities. The EQH Facility also includes customary events of default substantially similar to those in AB’s committed bank facilities, including provisions under which, upon the occurrence of an event of default, all outstanding loans may be accelerated and/or the lender’s commitment may be terminated. Amounts under the EQH Facility may be borrowed, repaid and re-borrowed by us from time to time until the maturity of the facility. AB or EQH may reduce or terminate the commitment at any time without penalty upon proper notice. EQH also may terminate the facility immediately upon a change of control of our general partner. As of March 31, 2020 and December 31, 2019 , AB had $830.0 million and $560.0 million outstanding under the EQH Facility with interest rates of approximately 0.2% and 1.6% , respectively. Average daily borrowings on the EQH Facility for the first three months of 2020 and for the 57 days it was available in 2019 were $592.1 million and $358.6 million , respectively, with weighted average interest rates of approximately 1.3% and 1.6% , respectively. As of March 31, 2020 , we had $104.8 million in commercial paper outstanding with a weighted average interest rate of approximately 2.1% . As of December 31, 2019 , we had no commercial paper outstanding. The commercial paper is short term in nature, and as such, recorded value is estimated to approximate fair value (and considered a Level 2 security in the fair value hierarchy). Average daily borrowings of commercial paper during the first three months of 2020 and the 317 days commercial paper was outstanding in 2019 were $44.7 million and $438.6 million , respectively, with weighted average interest rates of approximately 1.9% and 2.6% , respectively. AB has a $200.0 million committed, unsecured senior revolving credit facility (the "Revolver") with a leading international bank, which matures on November 16, 2021. The Revolver is available for AB's and SCB LLC's business purposes, including the provision of additional liquidity to meet funding requirements primarily related to SCB LLC's operations. Both AB and SCB LLC can draw directly under the Revolver and management expects to draw on the Revolver from time to time. AB has agreed to guarantee the obligations of SCB LLC under the Revolver. The Revolver contains affirmative, negative and financial covenants that are identical to those of the Credit Facility. As of both March 31, 2020 and December 31, 2019 , we had no amounts outstanding under the Revolver. Average daily borrowings under the Revolver during the first three months of 2020 and full year 2019 were $23.9 million and $23.5 million , respectively, with weighted average interest rates of approximately 2.3% and 3.2% , respectively. In addition, SCB LLC currently has three uncommitted lines of credit with three financial institutions. Two of these lines of credit permit us to borrow up to an aggregate of approximately $175.0 million , with AB named as an additional borrower, while the other line has no stated limit. As of March 31, 2020 and December 31, 2019 , SCB LLC had no outstanding balance on these lines of credit. Average daily borrowings on the lines of credit during the first three months of 2020 and full year 2019 were $3.3 million and $1.9 million , respectively, with weighted average interest rates of approximately 2.0% and 1.9% , respectively.

Non-controlling Interests

Non-controlling Interests	3 Months Ended
	Mar. 31, 2020
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling Interests Non-controlling interest in net income for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended March 31, 2020 2019 (in thousands) Non-redeemable non-controlling interests: Consolidated company-sponsored investment funds $ — $ — Other — 16 Total non-redeemable non-controlling interests — 16 Redeemable non-controlling interests: Consolidated company-sponsored investment funds (25,571 ) 10,100 Total non-controlling interest in net income $ (25,571 ) $ 10,116 Redeemable non-controlling interest as of March 31, 2020 and December 31, 2019 consisted of the following: March 31, 2020 December 31, 2019 (in thousands) Consolidated company-sponsored investment funds $ 224,900 $ 325,561 Total redeemable non-controlling interest $ 224,900 $ 325,561

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisition	Acquisition During March 2020, we acquired a 100% interest in Asturias Capital LLC, an alternative strategy investment management firm focused on the technology, media and telecommunication sectors, with $211 million of assets under management for $12.1 million . The excess of the purchase price over the fair value of identifiable net assets acquired of $1.0 million resulted in the recognition of $11.1 million of goodwill. The purchase price allocation to fair value two investment management contracts will be finalized during the second quarter of 2020; once the valuation is complete, an adjustment will be recorded between goodwill and intangible assets. This acquisition will not have a material impact on our financial condition or results of operations. As a result, we will not provide supplemental pro forma information.

Subsequent Event (Notes)

Subsequent Event (Notes)	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event During April 2020, we provided a $125 million credit facility, through a Master Repurchase Agreement (“MRA”), to one of our sponsored private investment funds, of which $30 million has been drawn upon as of April 28, 2020. The amounts drawn upon the MRA, which are payable on demand, are collateralized by assets of the fund, can be repaid at any time prior to maturity and bear interest based upon the interest rate established at the time of each borrowing. The amounts outstanding under the MRA are not expected to have a material impact on our financial condition or results of operations.

Business Description Organiza_2

Business Description Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim results, have been made. The preparation of the condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed consolidated statement of financial condition as of December 31, 2019 was derived from audited financial statements, but it does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”).
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include AB and its majority-owned and/or controlled subsidiaries, and the consolidated entities that are considered to be variable interest entities (“VIEs”) and voting interest entities (“VOEs”) in which AB has a controlling financial interest. Non-controlling interests on the condensed consolidated statements of financial condition include the portion of consolidated company-sponsored investment funds in which we do not have direct equity ownership. All significant inter-company transactions and balances among the consolidated entities have been eliminated.
Reclassifications	Reclassifications During 2020, prior period amounts for the changes in right-of-use assets and lease liabilities previously presented with amounts related to the adoption of ASC 842 in our Condensed Consolidated Statement of Cash Flows, are now presented net of the adoption impact of ASU 842 to conform to the current period's presentation.
Recently Adopted Accounting Pronouncements / Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) . This new guidance relates to the accounting for credit losses on financial instruments and introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment . The guidance removes Step 2 of the goodwill impairment test, which had required a hypothetical purchase price allocation. As a result of the revised guidance, a goodwill impairment will be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The amendment modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements that currently exist in GAAP for capitalizing implementation costs incurred to develop or obtain internal-use software. Implementation costs would either be capitalized or expensed as incurred depending on the project stage. All costs in the preliminary and post-implementation project stages are expensed as incurred, while certain costs within the application development stage are capitalized. We adopted this standard prospectively on January 1, 2020. The adoption of this standard did not have a material impact on our financial condition or results of operations. Accounting Pronouncements Not Yet Adopted in 2020 In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20) . The amendment modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The revised guidance is effective for financial statements issued for fiscal years beginning after December 15, 2020, with early adoption permitted. The revised guidance will not have a material impact on our financial condition or results of operations. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
Goodwill	Goodwill Goodwill is tested annually, as of September 30, for impairment. Throughout the year, the carrying value of goodwill is also reviewed for impairment if certain events or changes in circumstances occur, and trigger whether an interim impairment test may be required. Such changes in circumstances may be, but not limited to, sustained decrease in AB Holding Unit price or declines in market capitalization that would suggest that the fair value of the reporting unit is less than the carrying amount; significant and unanticipated declines in assets under management, revenues, or lower than expected earnings in the current quarter, next quarter or year. Any of these changes in circumstances could suggest the possibility that goodwill is impaired, however, none of these events or circumstances by itself would indicate that it is more likely than not that goodwill is impaired, they are merely recognized as triggering events for the consideration of impairment and must be viewed in combination with any mitigating or positive factors. A holistic evaluation of all events since the most recent quantitative impairment test must be done to determine whether it is more likely than not that the reporting unit is impaired. As of January 1, 2020, we adopted ASU 2017-04, Simplifying the Test for Goodwill Impairment . The guidance removes Step 2 of the goodwill impairment test, which had required a hypothetical purchase price allocation. As a result of the revised guidance, a goodwill impairment will be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Under this guidance, the goodwill impairment test no longer includes a determination by management of whether a decline in fair value is temporary; however, it is important to consider how the severity and anticipated duration of the current market conditions is reflected in management's determination of fair value. We have determined that AB has only one reporting segment and reporting unit. As of March 31, 2020, there was $3.1 billion of goodwill recorded on the consolidated statement of financial condition. During the first quarter of 2020, the unit price per AB Holding Unit declined significantly in response to the precipitous decline in the financial markets. As such, we performed an interim impairment evaluation of goodwill utilizing the Market Approach where the fair value of the reporting unit is based on its unadjusted market valuation (AB Holding Units outstanding multiplied by AB Holding’s Unit price). We have considered the results of the market approach analysis performed along with a number of other factors (including current market conditions) and determined that the fair value of the reporting unit exceeded its carrying value as of March 31, 2020. As such, no goodwill impairment existed. We will continue to monitor and evaluate any events that may trigger an impairment of goodwill.

Business Description Organiza_3

Business Description Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership Structure of AB as a Percentage of General and Limited Partnership Interests	As of March 31, 2020 , the ownership structure of AB, including limited partnership units outstanding as well as the general partner's 1% interest, was as follows: EQH and its subsidiaries 63.4 % AB Holding 35.9 Unaffiliated holders 0.7 100.0 %

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended March 31, 2020 2019 (in thousands) Subject to contracts with customers: Investment advisory and services fees Base fees $ 613,587 $ 552,230 Performance-based fees 8,138 4,364 Bernstein research services 129,223 90,235 Distribution revenues All-in-management fees 86,357 61,773 12b-1 fees 19,453 19,586 Other 25,047 19,150 Other revenues Shareholder servicing fees 20,843 17,830 Other 4,672 4,018 907,320 769,186 Not subject to contracts with customers: Dividend and interest income, net of interest expense 11,146 10,183 Investment (losses) gains (44,306 ) 15,735 Other revenues (4 ) 358 (33,164 ) 26,276 Total net revenues $ 874,156 $ 795,462

Long-term Incentive Compensat_2

Long-term Incentive Compensation Plans Long-term Incentive Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity	Repurchases of AB Holding Units for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended 2020 2019 (in millions) Total amount of AB Holding Units Purchased (1) 0.9 2.0 Total Cash Paid for AB Holding Units Purchased (1) $ 19.8 $ 58.6 Open Market Purchases of AB Holding Units Purchased (2) 0.8 1.9 Total Cash Paid for Open Market Purchases of AB Holding Units (2) $ 17.3 $ 55.2 (1) Purchased on a trade date basis. (2) The remainder related to purchases of AB Holding Units from employees to all them to fulfill statutory tax withholding requirements at the time of delivery of long-term incentive compensation award

Net Income per Unit (Tables)

Net Income per Unit (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Unit [Abstract]
Schedule of Earnings Per Unit, Basic and Diluted	Basic net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the basic weighted average number of limited partnership units outstanding for each period. Diluted net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the total of the diluted weighted average number of limited partnership units outstanding for each period. Three Months Ended March 31, 2020 2019 (in thousands, except per unit amounts) Net income attributable to AB Unitholders $ 194,320 $ 149,114 Weighted average limited partnership units outstanding – basic 270,498 267,336 Dilutive effect of compensatory options to buy AB Holding Units 32 72 Weighted average limited partnership units outstanding – diluted 270,530 267,408 Basic net income per AB Unit $ 0.71 $ 0.55 Diluted net income per AB Unit $ 0.71 $ 0.55 Three Months Ended March 31, 2020 2019 (amounts as shown) Anti-dilutive options excluded from diluted net income 29,056 29,056

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	Investments consist of: March 31, December 31, (in thousands) Equity securities: Long-term incentive compensation-related $ 25,655 $ 36,665 Seed capital 70,361 70,464 Other 58,423 73,202 Exchange-traded options 36,783 6,931 Investments in limited partnership hedge funds: Long-term incentive compensation-related 11,661 14,237 Seed capital 30,732 33,124 Time deposits 17,303 18,281 Other 11,590 13,890 Total investments $ 262,508 $ 266,794
Portion of Unrealized Gains (Losses) Related to Equity Securities	The portion of unrealized gains (losses) related to equity securities, as defined by ASC 321-10, held as of March 31, 2020 and 2019 were as follows: Three Months Ended March 31, 2020 2019 (in thousands) Net (losses) gains recognized during the period $ (21,986 ) $ 13,994 Less: net (losses) gains recognized during the period on equity securities sold during the period (1,395 ) 3,132 Unrealized (losses) gains recognized during the period on equity securities held $ (20,591 ) $ 10,862

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional and Fair Value for Derivative Instruments Not Designated as Hedging Instruments	The notional value and fair value as of March 31, 2020 and December 31, 2019 for derivative instruments (excluding derivative instruments relating to our options desk trading activities discussed below ) not designated as hedging instruments were as follows: Fair Value Notional Value Derivative Assets Derivative Liabilities (in thousands) March 31, 2020: Exchange-traded futures $ 175,080 $ 1,505 $ 4,895 Currency forwards 85,003 8,414 7,943 Interest rate swaps 82,780 2,886 3,641 Credit default swaps 275,733 16,238 15,294 Total return swaps 90,608 2,351 8,283 Option swaps 354 1,172 — Total derivatives $ 709,558 $ 32,566 $ 40,056 December 31, 2019: Exchange-traded futures $ 171,112 $ 939 $ 871 Currency forwards 60,809 8,545 8,633 Interest rate swaps 92,756 1,746 2,254 Credit default swaps 168,303 2,151 5,611 Total return swaps 91,201 110 1,764 Option swaps 354 — 126 Total derivatives $ 584,535 $ 13,491 $ 19,259
Gains and Losses for Derivative Instruments Recognized in Investment Gains (Losses) in the Condensed Consolidated Statements of Income	The gains and losses for derivative instruments (excluding our options desk trading activities discussed below ) for the three months ended March 31, 2020 and 2019 recognized in investment gains (losses) in the condensed consolidated statements of income were as follows: Three Months Ended March 31, 2020 2019 Exchange-traded futures $ 1,006 $ (5,115 ) Currency forwards 658 (40 ) Interest rate swaps (612 ) (314 ) Credit default swaps 12,101 (2,340 ) Total return swaps 15,115 (11,956 ) Option swaps 1,298 — Net gains (losses) on derivative instruments $ 29,566 $ (19,765 )

Offsetting Assets and Liabili_2

Offsetting Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Offsetting [Abstract]
Schedule of Offsetting of Financial Assets	Offsetting of assets as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount (in thousands) March 31, 2020: Securities borrowed $ 45,470 $ — $ 45,470 $ (37,959 ) $ — $ 7,511 Derivatives $ 32,566 $ — $ 32,566 $ — $ (8,479 ) $ 24,087 Long exchange-traded options $ 36,783 $ — $ 36,783 $ — $ — $ 36,783 December 31, 2019: Securities borrowed $ 38,993 $ — $ 38,993 $ (38,993 ) $ — $ — Derivatives $ 13,491 $ — $ 13,491 $ — $ (251 ) $ 13,240 Long exchange-traded options $ 6,931 $ — $ 6,931 $ — $ — $ 6,931
Schedule of Offsetting of Financial Liabilities	Offsetting of liabilities as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount (in thousands) March 31, 2020: Derivatives $ 40,056 $ — $ 40,056 $ — $ (9,644 ) $ 30,412 Short exchange-traded options $ 15,884 $ — $ 15,884 $ — $ — $ 15,884 December 31, 2019: Derivatives $ 19,259 $ — $ 19,259 $ — $ (4,276 ) $ 14,983 Short exchange-traded options $ 12,348 $ — $ 12,348 $ — $ — $ 12,348

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Valuation of our financial instruments by pricing observability levels as of March 31, 2020 and December 31, 2019 was as follows (in thousands): Level 1 Level 2 Level 3 NAV Expedient (1) Other Total March 31, 2020: Money markets $ 123,767 $ — $ — $ — $ — $ 123,767 Securities segregated (U.S. Treasury Bills) — 2,012,198 — — — 2,012,198 Derivatives 1,505 31,061 — — — 32,566 Investments Equity securities 136,573 17,589 118 159 — 154,439 Long exchange-traded options 36,783 — — — — 36,783 Limited partnership hedge funds (2) — — — — 42,393 42,393 Time deposits (3) — — — — 17,303 17,303 Other investments 4,637 — — — 6,953 11,590 Total investments 177,993 17,589 118 159 66,649 262,508 Total assets measured at fair value $ 303,265 $ 2,060,848 $ 118 $ 159 $ 66,649 $ 2,431,039 Securities sold not yet purchased Short equities – corporate $ 11,745 $ — $ — $ — $ — $ 11,745 Short exchange-traded options 15,884 — — — — 15,884 Derivatives 4,895 35,161 — — — 40,056 Contingent payment arrangements — — 23,704 — — 23,704 Total liabilities measured at fair value $ 32,524 $ 35,161 $ 23,704 $ — $ — $ 91,389 Level 1 Level 2 Level 3 NAV Expedient (1) Other Total December 31, 2019: Money markets $ 126,401 $ — $ — $ — $ — $ 126,401 Securities segregated (U.S. Treasury Bills) — 1,094,866 — — — 1,094,866 Derivatives 939 12,552 — — — 13,491 Investments Equity securities 170,946 8,952 119 314 — 180,331 Long exchange-traded options 6,931 — — — — 6,931 Limited partnership hedge funds (2) — — — — 47,361 47,361 Time deposits (3) — — — — 18,281 18,281 Other investments 5,883 — — — 8,007 13,890 Total investments 183,760 8,952 119 314 73,649 266,794 Total assets measured at fair value $ 311,100 $ 1,116,370 $ 119 $ 314 $ 73,649 $ 1,501,552 Securities sold not yet purchased Short equities – corporate $ 17,809 $ — $ — $ — $ — $ 17,809 Short exchange-traded options 12,348 — — — — 12,348 Derivatives 871 18,388 — — — 19,259 Contingent payment arrangements — — 22,911 — — 22,911 Total liabilities measured at fair value $ 31,028 $ 18,388 $ 22,911 $ — $ — $ 72,327 (1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Investments in equity method investees that are not measured at fair value in accordance with GAAP. (3) Investments carried at amortized cost that are not measured at fair value in accordance with GAAP.
Schedule of Change in Carrying Value Level 3 Financial Instruments	The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as private equity and equity securities, is as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 119 $ 142 Purchases — — Sales — — Realized gains (losses), net — — Unrealized gains (losses), net (1 ) (27 ) Balance as of end of period $ 118 $ 115
Schedule of Contingent Payment Arrangements Level 3 Financial Instruments	The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as contingent payment arrangements, is as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 22,911 $ 7,336 Addition — — Accretion 793 54 Payments — — Balance as of end of period $ 23,704 $ 7,390

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Leases	Leases included in the condensed consolidated statement of financial condition as of March 31, 2020 and December 31, 2019 were as follows: Classification March 31, 2020 December 31, 2019 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 337,933 $ 360,185 Operating lease liabilities Lease liabilities 438,854 465,907 Finance Leases Property and equipment, gross Right-of-use assets 5,167 3,825 Amortization of right-of-use assets Right-of-use assets (1,440 ) (1,317 ) Property and equipment, net 3,727 2,508 Finance lease liabilities Lease liabilities 3,736 2,544
Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense included in the condensed consolidated statement of income as of March 31, 2020 and March 31, 2019 were as follows: Three Months Ended March 31, Classification 2020 2019 (in thousands) Operating lease cost General and administrative $ 23,004 $ 27,141 Financing lease cost: Amortization of right-of-use assets General and administrative 477 286 Interest on lease liabilities Interest expense 26 17 Total finance lease cost 503 303 Variable lease cost (1) General and administrative 9,477 9,873 Sublease income General and administrative (9,615 ) (14,463 ) Net lease cost $ 23,369 $ 22,854 (1) Variable lease expense includes operating expenses, real estate taxes and employee parking. Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 29,698 $ 35,728 Operating cash flows from financing leases 26 17 Financing cash flows from finance leases 504 282 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases — 2,289 Finance leases 1,695 — (1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statements of cash flows. Lease term and discount rate: Weighted average remaining lease term (years) Operating leases 5.04 Finance leases 2.87 Weighted average discount rate Operating leases 3.52 % Finance leases 2.71 %
Schedule of Maturities of Finance Lease Liabilities	Maturities of lease liabilities were as follows: Operating Leases Financing Leases Total Year ending December 31, (in thousands) 2020 (excluding the three months ended March 31, 2020) $ 81,317 $ 1,420 $ 82,737 2021 103,630 1,142 104,772 2022 89,572 757 90,329 2023 82,505 526 83,031 2024 79,600 23 79,623 Thereafter 42,974 — 42,974 Total lease payments 479,598 3,868 483,466 Less interest (40,744 ) (132 ) Present value of lease liabilities $ 438,854 $ 3,736
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities were as follows: Operating Leases Financing Leases Total Year ending December 31, (in thousands) 2020 (excluding the three months ended March 31, 2020) $ 81,317 $ 1,420 $ 82,737 2021 103,630 1,142 104,772 2022 89,572 757 90,329 2023 82,505 526 83,031 2024 79,600 23 79,623 Thereafter 42,974 — 42,974 Total lease payments 479,598 3,868 483,466 Less interest (40,744 ) (132 ) Present value of lease liabilities $ 438,854 $ 3,736

Consolidated Company-Sponsore_2

Consolidated Company-Sponsored Investment Funds (Tables)	3 Months Ended
	Mar. 31, 2020
Variable Interest Entity [Line Items]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Valuation of our financial instruments by pricing observability levels as of March 31, 2020 and December 31, 2019 was as follows (in thousands): Level 1 Level 2 Level 3 NAV Expedient (1) Other Total March 31, 2020: Money markets $ 123,767 $ — $ — $ — $ — $ 123,767 Securities segregated (U.S. Treasury Bills) — 2,012,198 — — — 2,012,198 Derivatives 1,505 31,061 — — — 32,566 Investments Equity securities 136,573 17,589 118 159 — 154,439 Long exchange-traded options 36,783 — — — — 36,783 Limited partnership hedge funds (2) — — — — 42,393 42,393 Time deposits (3) — — — — 17,303 17,303 Other investments 4,637 — — — 6,953 11,590 Total investments 177,993 17,589 118 159 66,649 262,508 Total assets measured at fair value $ 303,265 $ 2,060,848 $ 118 $ 159 $ 66,649 $ 2,431,039 Securities sold not yet purchased Short equities – corporate $ 11,745 $ — $ — $ — $ — $ 11,745 Short exchange-traded options 15,884 — — — — 15,884 Derivatives 4,895 35,161 — — — 40,056 Contingent payment arrangements — — 23,704 — — 23,704 Total liabilities measured at fair value $ 32,524 $ 35,161 $ 23,704 $ — $ — $ 91,389 Level 1 Level 2 Level 3 NAV Expedient (1) Other Total December 31, 2019: Money markets $ 126,401 $ — $ — $ — $ — $ 126,401 Securities segregated (U.S. Treasury Bills) — 1,094,866 — — — 1,094,866 Derivatives 939 12,552 — — — 13,491 Investments Equity securities 170,946 8,952 119 314 — 180,331 Long exchange-traded options 6,931 — — — — 6,931 Limited partnership hedge funds (2) — — — — 47,361 47,361 Time deposits (3) — — — — 18,281 18,281 Other investments 5,883 — — — 8,007 13,890 Total investments 183,760 8,952 119 314 73,649 266,794 Total assets measured at fair value $ 311,100 $ 1,116,370 $ 119 $ 314 $ 73,649 $ 1,501,552 Securities sold not yet purchased Short equities – corporate $ 17,809 $ — $ — $ — $ — $ 17,809 Short exchange-traded options 12,348 — — — — 12,348 Derivatives 871 18,388 — — — 19,259 Contingent payment arrangements — — 22,911 — — 22,911 Total liabilities measured at fair value $ 31,028 $ 18,388 $ 22,911 $ — $ — $ 72,327 (1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Investments in equity method investees that are not measured at fair value in accordance with GAAP. (3) Investments carried at amortized cost that are not measured at fair value in accordance with GAAP.
Schedule of Change in Carrying Value Level 3 Financial Instruments	The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as private equity and equity securities, is as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 119 $ 142 Purchases — — Sales — — Realized gains (losses), net — — Unrealized gains (losses), net (1 ) (27 ) Balance as of end of period $ 118 $ 115
Schedule of Offsetting of Derivative Assets	Offsetting of assets as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount (in thousands) March 31, 2020: Securities borrowed $ 45,470 $ — $ 45,470 $ (37,959 ) $ — $ 7,511 Derivatives $ 32,566 $ — $ 32,566 $ — $ (8,479 ) $ 24,087 Long exchange-traded options $ 36,783 $ — $ 36,783 $ — $ — $ 36,783 December 31, 2019: Securities borrowed $ 38,993 $ — $ 38,993 $ (38,993 ) $ — $ — Derivatives $ 13,491 $ — $ 13,491 $ — $ (251 ) $ 13,240 Long exchange-traded options $ 6,931 $ — $ 6,931 $ — $ — $ 6,931
Schedule of Offsetting of Derivative Liabilities	Offsetting of liabilities as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount (in thousands) March 31, 2020: Derivatives $ 40,056 $ — $ 40,056 $ — $ (9,644 ) $ 30,412 Short exchange-traded options $ 15,884 $ — $ 15,884 $ — $ — $ 15,884 December 31, 2019: Derivatives $ 19,259 $ — $ 19,259 $ — $ (4,276 ) $ 14,983 Short exchange-traded options $ 12,348 $ — $ 12,348 $ — $ — $ 12,348
Company-sponsored investment funds
Variable Interest Entity [Line Items]
Balances of Consolidated VIEs and VOEs included in Statement of Financial Condition	The balances of consolidated VIEs and VOEs included in our condensed consolidated statements of financial condition were as follows: March 31, 2020 December 31, 2019 (in thousands) VIEs VOEs Total VIEs VOEs Total Cash and cash equivalents $ 83,067 $ 4,210 $ 87,277 $ 9,623 $ 1,810 $ 11,433 Investments 273,445 170,027 443,472 404,624 176,380 581,004 Other assets 20,444 19,094 39,538 9,618 10,192 19,810 Total assets $ 376,956 $ 193,331 $ 570,287 $ 423,865 $ 188,382 $ 612,247 Liabilities $ 73,325 $ 31,550 $ 104,875 $ 12,147 $ 18,870 $ 31,017 Redeemable non-controlling interest 179,090 45,810 224,900 273,219 52,342 325,561 Partners' capital attributable to AB Unitholders 124,541 115,971 240,512 138,499 117,170 255,669 Total liabilities, redeemable non-controlling interest and partners' capital $ 376,956 $ 193,331 $ 570,287 $ 423,865 $ 188,382 $ 612,247
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of March 31, 2020 and December 31, 2019 was as follows (in thousands): Level 1 Level 2 Level 3 Total March 31, 2020: Investments - VIEs $ 19,040 $ 254,011 $ 394 $ 273,445 Investments - VOEs 77,460 92,427 140 170,027 Derivatives - VIEs 2,421 5,471 — 7,892 Derivatives - VOEs 187 13,154 — 13,341 Total assets measured at fair value $ 99,108 $ 365,063 $ 534 $ 464,705 Derivatives - VIEs 469 6,134 — 6,603 Derivatives - VOEs 252 12,461 — 12,713 Total liabilities measured at fair value $ 721 $ 18,595 $ — $ 19,316 December 31, 2019: Investments - VIEs $ 28,270 $ 375,559 $ 795 $ 404,624 Investments - VOEs 104,069 72,252 59 176,380 Derivatives - VIEs 139 4,694 — 4,833 Derivatives - VOEs 76 4,263 — 4,339 Total assets measured at fair value $ 132,554 $ 456,768 $ 854 $ 590,176 Derivatives - VIEs $ 835 $ 3,724 $ — $ 4,559 Derivatives - VOEs 101 4,982 — 5,083 Total liabilities measured at fair value $ 936 $ 8,706 $ — $ 9,642
Schedule of Change in Carrying Value Level 3 Financial Instruments	The change in carrying value associated with Level 3 financial instruments carried at fair value within consolidated company-sponsored investment funds was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance as of beginning of period $ 854 $ 8,373 Transfers (out) in 231 (97 ) Purchases 33 2,111 Sales (362 ) (284 ) Realized gains (losses), net — 2 Unrealized gains (losses), net (224 ) 149 Accrued discounts 2 7 Balance as of end of period $ 534 $ 10,261
Schedule of Offsetting of Derivative Assets	Offsetting of derivative assets of consolidated company-sponsored investment funds as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount (in thousands) March 31, 2020: Derivatives - VIEs $ 7,892 $ — $ 7,892 $ — $ (7,892 ) $ — Derivatives - VOEs $ 13,341 $ — $ 13,341 $ — $ (580 ) $ 12,761 December 31, 2019: Derivatives - VIEs $ 4,833 $ — $ 4,833 $ — $ (1,631 ) $ 3,202 Derivatives - VOEs $ 4,339 $ — $ 4,339 $ — $ (534 ) $ 3,805
Schedule of Offsetting of Derivative Liabilities	Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of March 31, 2020 and December 31, 2019 was as follows: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount (in thousands) March 31, 2020: Derivatives - VIEs $ 6,603 $ — $ 6,603 $ — $ (6,603 ) $ — Derivatives - VOEs $ 12,713 $ — $ 12,713 $ — $ (2,797 ) $ 9,916 December 31, 2019: Derivatives - VIEs $ 4,559 $ — $ 4,559 $ — $ (3,155 ) $ 1,404 Derivatives - VOEs $ 5,083 $ — $ 5,083 $ — $ (1,201 ) $ 3,882

Units Outstanding (Tables)

Units Outstanding (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Changes in AB Units Outstanding	Changes in AB Units outstanding during the three -month period ended March 31, 2020 were as follows: Outstanding as of December 31, 2019 270,380,314 Options exercised 5,182 Units issued 344,698 Units retired (748,763 ) Outstanding as of March 31, 2020 269,981,431

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	3 Months Ended
	Mar. 31, 2020
Noncontrolling Interest [Abstract]
Non-controlling Interest in Net Income	Non-controlling interest in net income for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended March 31, 2020 2019 (in thousands) Non-redeemable non-controlling interests: Consolidated company-sponsored investment funds $ — $ — Other — 16 Total non-redeemable non-controlling interests — 16 Redeemable non-controlling interests: Consolidated company-sponsored investment funds (25,571 ) 10,100 Total non-controlling interest in net income $ (25,571 ) $ 10,116
Redeemable Noncontrolling Interest	Redeemable non-controlling interest as of March 31, 2020 and December 31, 2019 consisted of the following: March 31, 2020 December 31, 2019 (in thousands) Consolidated company-sponsored investment funds $ 224,900 $ 325,561 Total redeemable non-controlling interest $ 224,900 $ 325,561

Business Description Organiza_4

Business Description Organization and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2020shares
EQH | AXA
General partnership information [Abstract]
General partnership interest in Company (percent)	10.00%
AB Holding | EQH
General partnership information [Abstract]
General partnership interest in Company (percent)	4.10%
AB Holding | AB
General partnership information [Abstract]
General partnership interest in Company (percent)	1.00%
General Partnership number of general partnership units owned in Holding Company (in units)	100,000
Limited partners or members ownership interest in company (percent)	35.90%
EQH and its subsidiaries | AB
General partnership information [Abstract]
Limited partners or members ownership interest in company (percent)	63.40%
Unaffiliated holders | AB
General partnership information [Abstract]
Limited partners or members ownership interest in company (percent)	0.70%
AB | AB
General partnership information [Abstract]
Limited partners or members ownership interest in company (percent)	100.00%
AB | EQH and its subsidiaries
General partnership information [Abstract]
General partnership interest in Company (percent)	64.90%

Significant Accounting Polici_2

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Goodwill	$ 3,088,038	$ 3,076,926

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	$ 907,320	$ 769,186
Dividend and interest income, net of interest expense	11,146	10,183
Investment (losses) gains	(44,306)	15,735
Other revenues	(4)	358
Revenue not subject to contract with customer	(33,164)	26,276
Net revenues	874,156	795,462
Base fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	613,587	552,230
Performance-based fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	8,138	4,364
Bernstein research services
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	129,223	90,235
All-in-management fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	86,357	61,773
12b-1 fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	19,453	19,586
Other
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	25,047	19,150
Shareholder servicing fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	20,843	17,830
Other
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	$ 4,672	$ 4,018

Long-term Incentive Compensat_3

Long-term Incentive Compensation Plans - Unit Purchase Activity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Total amount of AB Holding Units Purchased (in units)	0.9	2
Total Cash Paid for AB Holding Units Purchased	$ 19.8	$ 58.6
Open Market Purchases of AB Holding Units Purchased (in units)	0.8	1.9
Total Cash Paid for Open Market Purchases of AB Holding Units	$ 17.3	$ 55.2

Long-term Incentive Compensat_4

Long-term Incentive Compensation Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Units granted to employees and Eligible Directors (in units)	100,000	100,000
Units issued upon exercise of options (in units)	5,182	300,000
Proceeds from stock options exercised	$ 147	$ 7,382

Net Income per Unit (Details)

Net Income per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Limited Partners interest in Company (as a percent)	99.00%
Net income per unit, basic and diluted [Abstract]
Net income attributable to AB Unitholders	$ 194,320	$ 149,114
Weighted average limited partnership units outstanding – basic (in units)	270,498,000	267,336,000
Dilutive effect of compensatory options to buy AB Holding Units (in units)	32,000	72,000
Weighted average limited partnership units outstanding – diluted (in units)	270,530,000	267,408,000
Basic net income per AB Unit (in dollars per unit)	$ 0.71	$ 0.55
Diluted net income per AB Unit (in dollars per unit)	$ 0.71	$ 0.55
Options excluded from diluted net income per unit computation due to their anti-dilutive effect (in units)	29,056	29,056
General Partner Interest
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
General partnership interest in Company (percent)	1.00%

Cash Distributions (Details)

Cash Distributions (Details) - $ / shares	Apr. 28, 2020	Mar. 31, 2020
Subsequent Event
Distribution Made to Limited Partner [Line Items]
Distribution declared (in dollars per unit)	$ 0.71
Cash Distribution
Distribution Made to Limited Partner [Line Items]
Declaration date		Apr. 28, 2020
Distribution date		May 28, 2020
Date of record		May 11, 2020
General Partner Interest
Distribution Made to Limited Partner [Line Items]
General partnership interest in Company (percent)		1.00%
General Partner Interest | Cash Distribution
Distribution Made to Limited Partner [Line Items]
General partnership interest in Company (percent)		1.00%

Cash and Securities Segregate_2

Cash and Securities Segregated Under Federal Regulations and Other Requirements (Details) - USD ($) $ in Billions	Mar. 31, 2020	Dec. 31, 2019
Brokers and Dealers [Abstract]
United States Treasury Bills in special reserve bank custody account for exclusive benefit of brokerage customers of SCB LLC	$ 2	$ 1.1

Investments (Summary of Investm

Investments (Summary of Investments) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Summary of Investment Holdings [Line Items]
Investments owned	$ 262,508	$ 266,794
Long-term incentive compensation obligations	37,300	50,900
Seed capital
Summary of Investment Holdings [Line Items]
Investments owned	340,800	358,100
Equity securities | Long-term incentive compensation-related
Summary of Investment Holdings [Line Items]
Investments owned	25,655	36,665
Equity securities | Seed capital
Summary of Investment Holdings [Line Items]
Investments owned	70,361	70,464
Equity securities | Other
Summary of Investment Holdings [Line Items]
Investments owned	58,423	73,202
Exchange-traded options
Summary of Investment Holdings [Line Items]
Investments owned	36,783	6,931
Investments in limited partnership hedge funds | Long-term incentive compensation-related
Summary of Investment Holdings [Line Items]
Investments owned	11,661	14,237
Investments in limited partnership hedge funds | Seed capital
Summary of Investment Holdings [Line Items]
Investments owned	30,732	33,124
Time deposits
Summary of Investment Holdings [Line Items]
Investments owned	17,303	18,281
Other
Summary of Investment Holdings [Line Items]
Investments owned	$ 11,590	$ 13,890

Investments (Gains (Losses) Rel

Investments (Gains (Losses) Related to Equity Securities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Net (losses) gains recognized during the period	$ (21,986)	$ 13,994
Less: net (losses) gains recognized during the period on equity securities sold during the period	(1,395)	3,132
Unrealized (losses) gains recognized during the period on equity securities held	$ (20,591)	$ 10,862

Derivative Instruments (Notiona

Derivative Instruments (Notional Value and Fair Value of Derivative Instruments) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional Value	$ 709,558	$ 584,535
Derivative Assets	32,566	13,491
Derivative Liabilities	40,056	19,259
Exchange-traded futures
Derivative [Line Items]
Notional Value	175,080	171,112
Derivative Assets	1,505	939
Derivative Liabilities	4,895	871
Currency forwards
Derivative [Line Items]
Notional Value	85,003	60,809
Derivative Assets	8,414	8,545
Derivative Liabilities	7,943	8,633
Interest rate swaps
Derivative [Line Items]
Notional Value	82,780	92,756
Derivative Assets	2,886	1,746
Derivative Liabilities	3,641	2,254
Credit default swaps
Derivative [Line Items]
Notional Value	275,733	168,303
Derivative Assets	16,238	2,151
Derivative Liabilities	15,294	5,611
Total return swaps
Derivative [Line Items]
Notional Value	90,608	91,201
Derivative Assets	2,351	110
Derivative Liabilities	8,283	1,764
Option swaps
Derivative [Line Items]
Notional Value	354	354
Derivative Assets	1,172	0
Derivative Liabilities	$ 0	$ 126

Derivative Instruments (Gains a

Derivative Instruments (Gains and Losses for Derivative Instruments Recognized in Investment Gains (Losses)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative [Line Items]
Net gains (losses) on derivative instruments	$ 29,566	$ (19,765)
Exchange-traded futures
Derivative [Line Items]
Net gains (losses) on derivative instruments	1,006	(5,115)
Currency forwards
Derivative [Line Items]
Net gains (losses) on derivative instruments	658	(40)
Interest rate swaps
Derivative [Line Items]
Net gains (losses) on derivative instruments	(612)	(314)
Credit default swaps
Derivative [Line Items]
Net gains (losses) on derivative instruments	12,101	(2,340)
Total return swaps
Derivative [Line Items]
Net gains (losses) on derivative instruments	15,115	(11,956)
Option swaps
Derivative [Line Items]
Net gains (losses) on derivative instruments	$ 1,298	$ 0

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative [Line Items]
Cash collateral payable to trade counterparties	$ 8,500		$ 300
Cash collateral received	9,600		4,300
Gain (loss) on equity options activity	18,400	$ (7,600)
Exchange-traded options | Long
Derivative [Line Items]
Cash collateral payable to trade counterparties	0		0
Long exchange-traded equity options	36,800		6,900
Exchange-traded options | Short
Derivative [Line Items]
Cash collateral received	0		0
Short exchange-traded equity options, included in securities sold not yet purchased	$ 15,900		$ 12,300

Offsetting Assets and Liabili_3

Offsetting Assets and Liabilities (Offsetting Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Asset [Abstract]
Cash Collateral Received	$ (8,500)	$ (300)
Securities borrowed
Securities Borrowed [Abstract]
Gross Amounts of Recognized Assets	45,470	38,993
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	45,470	38,993
Financial Instruments	(37,959)	(38,993)
Cash Collateral Received	0	0
Net Amount	7,511	0
Derivatives
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	32,566	13,491
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	32,566	13,491
Financial Instruments	0	0
Cash Collateral Received	(8,479)	(251)
Net Amount	24,087	13,240
Exchange-traded options | Long
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	36,783	6,931
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	36,783	6,931
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	$ 36,783	$ 6,931

Offsetting Assets and Liabili_4

Offsetting Assets and Liabilities (Offsetting Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Liability [Abstract]
Cash Collateral Pledged	$ (9,600)	$ (4,300)
Derivatives
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	40,056	19,259
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	40,056	19,259
Financial Instruments	0	0
Cash Collateral Pledged	(9,644)	(4,276)
Net Amount	30,412	14,983
Exchange-traded options | Short
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	15,884	12,348
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	15,884	12,348
Financial Instruments	0	0
Cash Collateral Pledged	0	0
Net Amount	$ 15,884	$ 12,348

Fair Value (Valuation of Financ

Fair Value (Valuation of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	$ 66,649	$ 73,649
Securities sold not yet purchased
Contingent payment arrangements		17,400
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets	123,767	126,401
Securities segregated (U.S. Treasury Bills)	2,012,198	1,094,866
Derivatives	32,566	13,491
Total investments measured at fair value and other measurements	262,508	266,794
Total assets measured at fair value and other measurements	2,431,039	1,501,552
Securities sold not yet purchased
Short equities – corporate	11,745	17,809
Short exchange-traded options	15,884	12,348
Derivatives	40,056	19,259
Contingent payment arrangements	23,704	22,911
Total liabilities measured at fair value	91,389	72,327
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets	123,767	126,401
Securities segregated (U.S. Treasury Bills)	0	0
Derivatives	1,505	939
Total investments	177,993	183,760
Total assets measured at fair value	303,265	311,100
Securities sold not yet purchased
Short equities – corporate	11,745	17,809
Short exchange-traded options	15,884	12,348
Derivatives	4,895	871
Contingent payment arrangements	0	0
Total liabilities measured at fair value	32,524	31,028
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets	0	0
Securities segregated (U.S. Treasury Bills)	2,012,198	1,094,866
Derivatives	31,061	12,552
Total investments	17,589	8,952
Total assets measured at fair value	2,060,848	1,116,370
Securities sold not yet purchased
Short equities – corporate	0	0
Short exchange-traded options	0	0
Derivatives	35,161	18,388
Contingent payment arrangements	0	0
Total liabilities measured at fair value	35,161	18,388
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets	0	0
Securities segregated (U.S. Treasury Bills)	0	0
Derivatives	0	0
Total investments	118	119
Total assets measured at fair value	118	119
Securities sold not yet purchased
Short equities – corporate	0	0
Short exchange-traded options	0	0
Derivatives	0	0
Contingent payment arrangements	23,704	22,911
Total liabilities measured at fair value	23,704	22,911
Recurring | NAV Expedient
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
NAV Expedient	159	314
Equity securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	154,439	180,331
Equity securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	136,573	170,946
Equity securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	17,589	8,952
Equity securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	118	119
Equity securities | Recurring | NAV Expedient
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
NAV Expedient	159	314
Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	6,953	8,007
Other investments | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	11,590
Total investments measured at fair value and other measurements		13,890
Other investments | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	4,637	5,883
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	17,303	18,281
Time deposits | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	17,303	18,281
Long | Exchange-traded options | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	36,783	6,931
Long | Exchange-traded options | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	36,783	6,931
Long | Exchange-traded options | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Long | Exchange-traded options | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Limited partnership hedge funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	42,393	47,361
Limited partnership hedge funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	$ 42,393	$ 47,361

Fair Value (Details)

Fair Value (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	$ 66,649,000	$ 73,649,000
Cash collateral payable to trade counterparties	8,500,000	300,000
Fair value, assets, Level 2 to Level 3 transfers, amount	$ 0
Contingent payment arrangements		17,400,000
Contingent consideration payable, term	5 years
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent payment arrangements	$ 23,704,000	22,911,000
Recurring | Contingent Payment Arrangements
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent payment arrangements	23,700,000	22,900,000
Software publishing company
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	1,000,000	1,000,000
Start-up company
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments		900,000
Equity method investee
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	2,700,000	2,900,000
Broker dealer exchange memberships
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	$ 3,200,000	3,200,000
2016 Acquisition
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in estimate for contingent consideration		$ 3,100,000
2016 Acquisition | Revenue growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.50
2016 Acquisition | Discount rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.030
Autonomous | Revenue growth rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.007
Autonomous | Revenue growth rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.025
Autonomous | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.104
Autonomous | Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.035
Autonomous | Market price of risk adjustment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.069

Fair Value (Change in Carrying

Fair Value (Change in Carrying Value of Level 3 Financial Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	$ 119	$ 142
Purchases	0	0
Sales	0	0
Realized gains (losses), net	0	0
Unrealized gains (losses), net	(1)	(27)
Balance as of end of period	$ 118	$ 115

Fair Value (Change in Carryin_2

Fair Value (Change in Carrying Value Associated with Contingent Payment Arrangements Level 3 Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Liabilities Measurement Level 3 reconciliation
Balance as of beginning of period	$ 22,911	$ 7,336
Addition	0	0
Accretion	793	54
Payments	0	0
Balance as of end of period	$ 23,704	$ 7,390

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)ft²	Apr. 30, 2019USD ($)ft²	Dec. 31, 2018USD ($)	Oct. 31, 2018USD ($)ft²
Lessee, Lease, Description [Line Items]
Operating and finance lease, maximum term of extension option	5 years
Operating and finance lease, term of termination option	1 year
Area of space leased (in square feet) | ft²	1,000,000,000,000
Restructuring reserve			$ 85,800
Total base rent obligation	$ 479,598
Nashville
Lessee, Lease, Description [Line Items]
Area of space leased (in square feet) | ft²				218,976
Operating lease, lease not yet commenced, term of contract				15 years
Total base rent obligation				$ 134,000
New York City
Lessee, Lease, Description [Line Items]
Area of space leased (in square feet) | ft²		190,000
Operating lease, lease not yet commenced, term of contract		20 years
Total base rent obligation		$ 448,000
Minimum
Lessee, Lease, Description [Line Items]
Operating and finance lease, remaining contract term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating and finance lease, remaining contract term	11 years

Leases - Leases included in the

Leases - Leases included in the Condensed Consolidated Statement of Financial Condition (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 337,933	$ 360,185
Operating lease liabilities	438,854	465,907
Property and equipment, gross	5,167	3,825
Amortization of right-of-use assets	(1,440)	(1,317)
Property and equipment, net	3,727	2,508
Finance lease liabilities	$ 3,736	$ 2,544

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 23,004	$ 27,141
Financing lease cost:
Amortization of right-of-use assets	477	286
Interest on lease liabilities	26	17
Total finance lease cost	503	303
Variable lease cost	9,477	9,873
Sublease income	(9,615)	(14,463)
Net lease cost	$ 23,369	$ 22,854

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating Leases
2020 (excluding the three months ended March 31, 2020)	$ 81,317
2021	103,630
2022	89,572
2023	82,505
2024	79,600
Thereafter	42,974
Total lease payments	479,598
Less interest	(40,744)
Present value of lease liabilities	438,854	$ 465,907
Financing Leases
2020 (excluding the three months ended March 31, 2020)	1,420
2021	1,142
2022	757
2023	526
2024	23
Thereafter	0
Total lease payments	3,868
Less interest	(132)
Present value of lease liabilities	3,736	$ 2,544
Total
2020 (excluding the three months ended March 31, 2020)	82,737
2021	104,772
2022	90,329
2023	83,031
2024	79,623
Thereafter	42,974
Total lease payments	$ 483,466

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Mar. 31, 2020
Leases [Abstract]
Weighted average remaining lease term, operating leases	5 years 14 days
Weighted average remaining lease term, finance leases	2 years 10 months 13 days
Weighted average discount rate, operating leases	3.52%
Weighted average discount rate, finance leases	2.71%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 29,698	$ 35,728
Operating cash flows from financing leases	26	17
Financing cash flows from finance leases	504	282
Right-of-use assets obtained in exchange for lease obligations, operating leases	0	2,289
Right-of-use assets obtained in exchange for lease obligations, finance leases	$ 1,695	$ 0

Consolidated Company-Sponsore_3

Consolidated Company-Sponsored Investment Funds (Summary of Balance Sheet Amounts) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Condensed Balance Sheet Statements, Captions [Line Items]
Other assets	$ 446,460	$ 330,943
Total assets	10,443,237	8,706,092
Liabilities	6,292,486	4,363,430
Redeemable non-controlling interest	224,900	325,561
Partners' capital attributable to AB Unitholders	3,925,851	4,017,101
Total liabilities, redeemable non-controlling interest and capital	10,443,237	8,706,092
Company-sponsored investment funds
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	87,277	11,433
Investments	443,472	581,004
Other assets	39,538	19,810
Redeemable non-controlling interest	224,900	325,561
Reportable entities | Company-sponsored investment funds
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	87,277	11,433
Investments	443,472	581,004
Other assets	39,538	19,810
Total assets	570,287	612,247
Liabilities	104,875	31,017
Redeemable non-controlling interest	224,900	325,561
Partners' capital attributable to AB Unitholders	240,512	255,669
Total liabilities, redeemable non-controlling interest and capital	570,287	612,247
Reportable entities | VIEs
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	83,067	9,623
Investments	273,445	404,624
Other assets	20,444	9,618
Total assets	376,956	423,865
Liabilities	73,325	12,147
Redeemable non-controlling interest	179,090	273,219
Partners' capital attributable to AB Unitholders	124,541	138,499
Total liabilities, redeemable non-controlling interest and capital	376,956	423,865
Reportable entities | VOEs
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	4,210	1,810
Investments	170,027	176,380
Other assets	19,094	10,192
Total assets	193,331	188,382
Liabilities	31,550	18,870
Redeemable non-controlling interest	45,810	52,342
Partners' capital attributable to AB Unitholders	115,971	117,170
Total liabilities, redeemable non-controlling interest and capital	$ 193,331	$ 188,382

Consolidated Company-Sponsore_4

Consolidated Company-Sponsored Investment Funds (Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	$ 32,566	$ 13,491
Derivatives	40,056	19,259
Total liabilities measured at fair value	91,389	72,327
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	177,993	183,760
Derivatives	1,505	939
Total assets measured at fair value	303,265	311,100
Derivatives	4,895	871
Total liabilities measured at fair value	32,524	31,028
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	17,589	8,952
Derivatives	31,061	12,552
Total assets measured at fair value	2,060,848	1,116,370
Derivatives	35,161	18,388
Total liabilities measured at fair value	35,161	18,388
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	118	119
Derivatives	0	0
Total assets measured at fair value	118	119
Derivatives	0	0
Total liabilities measured at fair value	23,704	22,911
Company-sponsored investment funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	464,705	590,176
Total liabilities measured at fair value	19,316	9,642
Company-sponsored investment funds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	99,108	132,554
Total liabilities measured at fair value	721	936
Company-sponsored investment funds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	365,063	456,768
Total liabilities measured at fair value	18,595	8,706
Company-sponsored investment funds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	534	854
Total liabilities measured at fair value	0	0
VIEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	7,892	4,833
Derivatives	6,603	4,559
VIEs | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	273,445	404,624
Derivatives	7,892	4,833
Derivatives	6,603	4,559
VIEs | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	19,040	28,270
Derivatives	2,421	139
Derivatives	469	835
VIEs | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	254,011	375,559
Derivatives	5,471	4,694
Derivatives	6,134	3,724
VIEs | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	394	795
Derivatives	0	0
Derivatives	0	0
VOEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	13,341	4,339
Derivatives	12,713	5,083
VOEs | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	170,027	176,380
Derivatives	13,341	4,339
Derivatives	12,713	5,083
VOEs | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	77,460	104,069
Derivatives	187	76
Derivatives	252	101
VOEs | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	92,427	72,252
Derivatives	13,154	4,263
Derivatives	12,461	4,982
VOEs | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	140	59
Derivatives	0	0
Derivatives	$ 0	$ 0

Consolidated Company-Sponsore_5

Consolidated Company-Sponsored Investment Funds (Change in Carrying Value Associated with Level 3 Financial Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	$ 119	$ 142
Purchases	0	0
Sales	0	0
Realized gains (losses), net	0	0
Unrealized gains (losses), net	(1)	(27)
Balance as of end of period	118	115
Company-sponsored investment funds
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	854	8,373
Transfers (out) in	231	(97)
Purchases	33	2,111
Sales	(362)	(284)
Realized gains (losses), net	0	2
Unrealized gains (losses), net	(224)	149
Accrued discounts	2	7
Balance as of end of period	$ 534	$ 10,261

Consolidated Company-Sponsore_6

Consolidated Company-Sponsored Investment Funds (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative [Line Items]
Gains (losses) on derivative instruments	$ 29,566	$ (19,765)
Cash collateral payable to trade counterparties	8,500		$ 300
Cash collateral received	9,600		4,300
Net assets of investment products that are non-consolidated VIEs	80,500,000
Maximum risk of loss in investment in VIEs	6,700
VIEs
Derivative [Line Items]
Futures, forwards and swaps held	1,300		300
Gains (losses) on derivative instruments	1,700	1,100
Cash collateral payable to trade counterparties including amounts that exceed fair value	33,100
Cash collateral payable to trade counterparties	7,892		1,631
Cash collateral received	59,000		3,200
VOEs
Derivative [Line Items]
Futures, forwards and swaps held	600		700
Gains (losses) on derivative instruments	(100)	$ 100
Cash collateral payable to trade counterparties	580		534
Cash collateral received	$ 2,800		$ 1,200

Consolidated Company-Sponsore_7

Consolidated Company-Sponsored Investment Funds (Offsetting of Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Asset [Abstract]
Cash Collateral Received	$ (8,500)	$ (300)
VIEs
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	7,892	4,833
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	7,892	4,833
Financial Instruments	0	0
Cash Collateral Received	(7,892)	(1,631)
Net Amount	0	3,202
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	6,603	4,559
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	6,603	4,559
Financial Instruments	0	0
Cash Collateral Pledged	(6,603)	(3,155)
Net Amount	0	1,404
VOEs
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	13,341	4,339
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	13,341	4,339
Financial Instruments	0	0
Cash Collateral Received	(580)	(534)
Net Amount	12,761	3,805
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	12,713	5,083
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	12,713	5,083
Financial Instruments	0	0
Cash Collateral Pledged	(2,797)	(1,201)
Net Amount	$ 9,916	$ 3,882

Units Outstanding (Details)

Units Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Units Outstanding
Outstanding as of December 31, 2019 (in units)	270,380,314
Options exercised (in units)	5,182	300,000
Units issued (in units)	344,698
Units purchased and retired (in units)	748,763
Balance as of March 31, 2020 (in units)	269,981,431

Debt (Details)

Debt (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)financial_institutionline_of_credit	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Short-term Debt [Line Items]
Short-term Debt
Commercial Paper
Short-term Debt [Line Items]
Weighted average interest rates on average daily borrowings		1.90%		2.60%
Short-term Debt		$ 104,800,000	$ 0
Weighted average interest rate		2.10%
Debt instrument, term			317 days
Short-term debt, average outstanding amount		$ 44,700,000		$ 438,600,000
Uncommited Lines of Credit
Short-term Debt [Line Items]
Weighted average interest rates	2.00%		1.90%
Short-term Debt	$ 0		$ 0
Short-term debt, average outstanding amount	3,300,000		1,900,000
Line of Credit
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	800,000,000
Maximum incremental increase	200,000,000
Amount outstanding	0		0
EQH
Short-term Debt [Line Items]
Amount outstanding	$ 830,000,000		$ 560,000,000
Weighted average interest rates	0.20%		1.60%
Average borrowing period			57 days
Average daily borrowings	$ 592,100,000		$ 358,600,000
Weighted average interest rates on average daily borrowings	1.30%		1.60%
Revolving Credit Facility
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000
Revolving Credit Facility | EQH
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900,000,000
Revolving Credit Facility | Line of Credit
Short-term Debt [Line Items]
Amount outstanding	$ 0		$ 0
Weighted average interest rates	2.30%		3.20%
Average daily borrowings	$ 23,900,000		$ 23,500,000
Subsidiaries | Line of Credit
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 175,000,000
Number of uncommitted lines of credit | line_of_credit	3
Number of financial institutions offering lines of credit | financial_institution	3
Number of financial institutions with stated limits | line_of_credit	2

Non-controlling Interests (Deta

Non-controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Non-redeemable non-controlling interests	$ 0	$ 16
Total non-controlling interest in net income	(25,571)	10,116
Redeemable non-controlling interest	224,900		$ 325,561
Other
Noncontrolling Interest [Line Items]
Non-redeemable non-controlling interests	0	16
Company-sponsored investment funds
Noncontrolling Interest [Line Items]
Non-redeemable non-controlling interests	0	0
Redeemable non-controlling interests	(25,571)	$ 10,100
Redeemable non-controlling interest	$ 224,900		$ 325,561

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 3,088,038	$ 3,076,926
Asturias Capital LLC
Business Acquisition [Line Items]
Percentage of interests acquired	100.00%
Initial cash purchase price consideration	$ 12,100
Assets acquired	211,000
Excess of purchase price over the current fair value of identifiable net assets acquired	1,000
Goodwill	$ 11,100

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2020	Apr. 28, 2020
Subsequent Event [Line Items]
Line of credit facility, related party	$ 125
Notes receivable, related parties		$ 30