Alliancebernstein 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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	501 Commerce Street
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
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	271,994,122
Entity Central Index Key	0001109448
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 1,093,097	$ 1,037,400
Cash and securities segregated, at fair value (cost: $1,072,523 and $1,752,483)	1,073,082	1,753,478
Receivables, net:
Brokers and dealers	107,851	92,638
Brokerage clients	2,011,409	1,713,377
AB funds fees	253,740	325,407
Other fees	156,157	148,746
Investments:
Long-term incentive compensation-related	61,513	60,114
Other	167,133	193,261
Assets of consolidated company-sponsored investment funds:
Other assets	338,115	264,418
Furniture, equipment and leasehold improvements, net	154,201	147,874
Goodwill	3,091,767	3,082,778
Intangible assets, net	44,981	44,496
Deferred sales commissions, net	68,414	64,066
Right-of-use assets	408,990	418,455
Total assets	9,236,134	9,697,840
Payables:
Brokers and dealers	251,725	216,403
Securities sold not yet purchased	12,709	17,791
Brokerage clients	2,912,175	3,440,266
AB mutual funds	82,826	65,550
Accounts payable and accrued expenses	228,294	197,657
Lease liabilities	485,843	505,549
Accrued compensation and benefits	601,222	335,122
Debt	590,000	675,000
Total liabilities	5,176,111	5,483,958
Commitments and contingencies (See Note 12)
Redeemable non-controlling interest	17,803	102,359
Capital:
General Partner	41,953	41,776
Limited partners: 271,994,122 and 270,509,658 units issued and outstanding	4,247,060	4,229,485
Receivables from affiliates	(7,799)	(8,316)
AB Holding Units held for long-term incentive compensation plans	(140,204)	(57,219)
Accumulated other comprehensive loss	(98,790)	(94,203)
Partners’ capital attributable to AB Unitholders	4,042,220	4,111,523
Total liabilities, redeemable non-controlling interest and capital	9,236,134	9,697,840
Company-sponsored investment funds
Assets of consolidated company-sponsored investment funds:
Cash and cash equivalents	30,456	36,506
Investments	166,940	302,582
Other assets	8,288	12,244
Total assets	205,684	351,332
Payables:
Liabilities of consolidated company-sponsored investment funds	11,317	30,620
Total liabilities	11,317	30,620
Redeemable non-controlling interest	17,803	102,359
Capital:
Partners’ capital attributable to AB Unitholders	176,564	218,353
Total liabilities, redeemable non-controlling interest and capital	$ 205,684	$ 351,332

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Cash and securities segregated, at cost	$ 1,072,523	$ 1,752,483
Limited partners, units issued (in units)	271,994,122	270,509,658
Limited partners, units outstanding (in units)	271,994,122	270,509,658

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Revenue subject to contracts with customers	$ 1,064,133	$ 837,395	$ 2,061,598	$ 1,744,715
Dividend and interest income	8,658	12,692	17,342	33,157
Investment gains (losses)	4,181	24,189	6,109	(20,117)
Other revenues	25,900	26,092	53,611	51,603
Total revenues	1,077,556	874,884	2,085,966	1,758,359
Less: Interest expense	734	3,435	1,878	12,754
Net revenues	1,076,822	871,449	2,084,088	1,745,605
Expenses:
Employee compensation and benefits	435,707	349,638	841,766	711,910
Promotion and servicing:
Amortization of deferred sales commissions	8,236	6,622	16,135	12,148
Trade execution, marketing, T&E and other	46,571	44,288	93,249	99,898
General and administrative:
General and administrative	131,324	121,424	251,547	243,691
Real estate charges	0	5,526	0	5,526
Contingent payment arrangements	838	807	1,634	1,600
Interest on borrowings	1,241	1,096	2,535	3,930
Amortization of intangible assets	1,521	6,723	3,000	13,209
Total expenses	793,199	661,802	1,539,881	1,357,735
Operating income	283,623	209,647	544,207	387,870
Income taxes	12,480	11,386	29,225	20,860
Net income	271,143	198,261	514,982	367,010
Net income (loss) of consolidated entities attributable to non-controlling interests	3,573	20,940	3,281	(4,631)
Net income attributable to AB Unitholders	$ 267,570	$ 177,321	$ 511,701	$ 371,641
Net income per AB Unit:
Basic (in dollars per unit)	$ 0.97	$ 0.65	$ 1.86	$ 1.36
Diluted (in dollars per unit)	$ 0.97	$ 0.65	$ 1.86	$ 1.36
Investment advisory and services fees
Revenues:
Revenue subject to contracts with customers	$ 777,624	$ 578,203	$ 1,481,090	$ 1,199,928
Bernstein research services
Revenues:
Revenue subject to contracts with customers	105,655	113,609	224,676	242,832
Distribution related
Revenues:
Revenue subject to contracts with customers	155,538	120,099	303,138	250,956
Promotion and servicing:
Distribution-related payments	$ 167,761	$ 125,678	$ 330,015	$ 265,823

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 271,143	$ 198,261	$ 514,982	$ 367,010
Other comprehensive income (loss):
Foreign currency translation adjustments, before tax	2,088	6,317	(5,050)	(15,079)
Income tax benefit	26	67	48	140
Foreign currency translation adjustments, net of tax	2,114	6,384	(5,002)	(14,939)
Changes in employee benefit related items:
Amortization of prior service cost	6	6	12	12
Recognized actuarial gain	324	325	405	650
Changes in employee benefit related items	330	331	417	662
Income tax (expense)	(2)	(1)	(2)	(78)
Employee benefit related items, net of tax	328	330	415	584
Other comprehensive income (loss)	2,442	6,714	(4,587)	(14,355)
Less: Comprehensive income (loss) in consolidated entities attributable to non-controlling interests	3,573	20,940	3,281	(4,631)
Comprehensive income attributable to AB Unitholders	$ 270,012	$ 184,035	$ 507,114	$ 357,286

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)	General Partner’s Capital	Limited Partners' Capital
Partners' capital, beginning balance at Dec. 31, 2019		$ (9,011)	$ (76,310)	$ (113,004)	$ 41,225	$ 4,174,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 367,010				3,717	367,924
Cash distributions					(5,938)	(440,686)
(Retirement) issuance of AB Units, net			36,218		(362)	(35,856)
Long-term incentive compensation plans activity		393	14,675		5	628
Capital contributions (to) from AB Holding		(549)
Purchases of AB Holding Units to fund long-term compensation plans, net			(47,415)
Re-valuation of AB Holding Units held in rabbi trust			(909)
Foreign currency translation adjustment, net of tax	(14,939)			(14,939)
Changes in employee benefit related items, net of tax	584			584
Other			15
Partners' capital, ending balance at Jun. 30, 2020	3,894,606	(9,167)	(73,726)	(127,359)	38,647	4,066,211
Partners' capital, beginning balance at Mar. 31, 2020		(9,279)	(81,314)	(134,073)	40,571	4,109,946
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	198,261				1,774	175,547
Cash distributions					(3,396)	(189,425)
(Retirement) issuance of AB Units, net			30,455		(305)	(30,150)
Long-term incentive compensation plans activity		209	7,268		3	293
Capital contributions (to) from AB Holding		(97)
Purchases of AB Holding Units to fund long-term compensation plans, net			(29,665)
Re-valuation of AB Holding Units held in rabbi trust			(473)
Foreign currency translation adjustment, net of tax	6,384			6,384
Changes in employee benefit related items, net of tax	330			330
Other			3
Partners' capital, ending balance at Jun. 30, 2020	3,894,606	(9,167)	(73,726)	(127,359)	38,647	4,066,211
Partners' capital, beginning balance at Dec. 31, 2020	4,111,523	(8,316)	(57,219)	(94,203)	41,776	4,229,485
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	514,982				5,117	506,584
Cash distributions					(5,319)	(526,491)
(Retirement) issuance of AB Units, net			(36,498)		368	36,331
Long-term incentive compensation plans activity		159	27,507		11	1,151
Capital contributions (to) from AB Holding		358
Purchases of AB Holding Units to fund long-term compensation plans, net			(75,468)
Re-valuation of AB Holding Units held in rabbi trust			1,474
Foreign currency translation adjustment, net of tax	(5,002)			(5,002)
Changes in employee benefit related items, net of tax	415			415
Other			0
Partners' capital, ending balance at Jun. 30, 2021	4,042,220	(7,799)	(140,204)	(98,790)	41,953	4,247,060
Partners' capital, beginning balance at Mar. 31, 2021		(1,725)	(143,807)	(101,232)	42,022	4,253,904
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	271,143				2,676	264,894
Cash distributions					(2,421)	(239,678)
(Retirement) issuance of AB Units, net			34,515		(342)	(33,919)
Long-term incentive compensation plans activity		17	9,505		18	1,859
Capital contributions (to) from AB Holding		(6,091)
Purchases of AB Holding Units to fund long-term compensation plans, net			(39,614)
Re-valuation of AB Holding Units held in rabbi trust			(803)
Foreign currency translation adjustment, net of tax	2,114			2,114
Changes in employee benefit related items, net of tax	328			328
Other			0
Partners' capital, ending balance at Jun. 30, 2021	$ 4,042,220	$ (7,799)	$ (140,204)	$ (98,790)	$ 41,953	$ 4,247,060

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 514,982	$ 367,010
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	16,135	12,148
Non-cash long-term incentive compensation expense	27,666	15,068
Depreciation and other amortization	64,505	72,034
Unrealized losses on investments	4,269	13,637
Other, net	10,064	154
Changes in assets and liabilities:
Decrease (increase) in securities, segregated	680,396	(787,322)
(Increase) in receivables	(222,721)	(145,247)
Decrease (increase) in investments	19,963	(42,626)
(Increase) in deferred sales commissions	(20,483)	(34,435)
(Increase) decrease in right-of-use assets	(33,369)	5,278
Increase (decrease) in other assets	(80,455)	(9,909)
(Decrease) increase in payables	(513,344)	851,419
(Decrease) in lease liabilities	(18,415)	(49,946)
Increase (decrease) in accounts payable and accrued expenses	13,617	(3,895)
Increase in accrued compensation and benefits	265,557	202,893
Net cash provided by operating activities	848,662	820,487
Cash flows from investing activities:
Purchases of furniture, equipment and leasehold improvements	(25,914)	(6,531)
Acquisition of business, net of cash acquired	(3,793)	(13,552)
Net cash used in investing activities	(29,707)	(20,083)
Cash flows from financing activities:
(Repayment) borrowings of debt, net	(85,000)
(Repayment) borrowings of debt, net		125,000
Increase in overdrafts payable	8,315	16,570
Distributions to General Partner and Unitholders	(531,810)	(446,624)
Capital contributions to affiliates	(408)	(971)
Additional investments by AB Holding with proceeds from exercise of compensatory options to buy AB Holding Units	3,402	147
Purchases of AB Holding Units to fund long-term incentive compensation plan awards, net	(75,468)	(47,415)
Other	721	642
Net cash used in financing activities	(768,085)	(622,500)
Effect of exchange rate changes on cash and cash equivalents	(1,223)	(11,162)
Net increase in cash and cash equivalents	49,647	166,742
Cash and cash equivalents as of beginning of the period	1,073,906	691,171
Cash and cash equivalents as of end of the period	1,123,553	857,913
Non-cash investing activities:
Fair value of assets acquired (less cash acquired of $2.8 million and $0.6 million, respectively)	13,235	18,389
Fair value of liabilities assumed	1,642	437
Non-cash financing activities:
Payables recorded under contingent payment arrangements	7,800	4,400
Company-sponsored investment funds
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized losses on investments	(936)	11,938
Changes in assets and liabilities:
Decrease (increase) in investments	136,578	334,970
Increase (decrease) in other assets	(15,347)	7,318
Cash flows from financing activities:
(Redemptions) of non-controlling interest in consolidated company-sponsored investment funds, net	$ (87,837)	$ (269,849)

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Cash Flows [Abstract]
Cash acquired from acquisition	$ 2.8	$ 0.6

Business Description Organizati

Business Description Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
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 diversified investment management, research 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 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 expertise in multi-asset strategies, wealth management, environmental, social and corporate governance ("ESG"), 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; • Alternative investments, including hedge funds, fund of funds, direct lending, real estate and private equity; • Multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds; and • Some passive management, including index and enhanced index strategies. Organization As of June 30, 2021, EQH owned approximately 4.0% 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 June 30, 2021, 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 62.9 % AB Holding 36.3 Unaffiliated holders 0.8 100.0 % Including both the general partnership and limited partnership interests in AB Holding and AB, EQH and its subsidiaries had an approximate 64.4% economic interest in AB as of June 30, 2021. 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, 2020 was derived from audited financial statements. Certain disclosures included in the annual financial statements have been condensed or omitted from these financial statements as they are not required for interim financial statements under principles generally accepted in the United States of America ("GAAP") and the rules of the Securities and Exchange Commission. 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 2021, prior period amounts previously presented as net issuance (repayment) of commercial paper, proceeds (repayment) of EQH facility and proceeds (repayment) of bank loans are now combined and presented as net repayments (borrowings) of debt in the condensed consolidated statements of cash flows to conform to the current period's presentation. Subsequent Events

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Recently Adopted Accounting Pronouncements 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. We adopted this standard prospectively on January 1, 2021. The adoption of this standard did 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. We adopted this standard prospectively on January 1, 2021. The adoption of this standard did not have a material impact on our financial condition or results of operations.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenues for the three and six months ended June 30, 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Subject to contracts with customers: Investment advisory and services fees Base fees $ 723,717 $ 569,296 $ 1,411,408 $ 1,182,883 Performance-based fees 53,907 8,907 69,682 17,045 Bernstein research services 105,655 113,609 224,676 242,832 Distribution revenues All-in-management fees 86,073 75,828 171,255 162,185 12b-1 fees 20,653 17,830 40,687 37,283 Other 48,812 26,441 91,196 51,488 Other revenues Shareholder servicing fees 22,383 19,694 44,078 40,537 Other 2,933 5,790 8,616 10,462 1,064,133 837,395 2,061,598 1,744,715 Not subject to contracts with customers: Dividend and interest income, net of interest expense 7,924 9,257 15,464 20,403 Investment gains (losses) 4,181 24,189 6,109 (20,117) Other revenues 584 608 917 604 12,689 34,054 22,490 890 Total net revenues $ 1,076,822 $ 871,449 $ 2,084,088 $ 1,745,605

Long-term Incentive Compensatio

Long-term Incentive Compensation Plans	6 Months Ended
	Jun. 30, 2021
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 and six months ended June 30, 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in millions) Total amount of AB Holding Units Purchased (1) 0.9 1.3 1.9 2.2 Total Cash Paid for AB Holding Units Purchased (1) $ 38.3 $ 27.8 $ 75.7 $ 47.6 Open Market Purchases of AB Holding Units Purchased (2) 0.8 1.3 1.4 2.2 Total Cash Paid for Open Market Purchases of AB Holding Units (2) $ 34.6 $ 27.8 $ 58.8 $ 45.1 (1) Purchased on a trade date basis. (2) The remainder related to purchases of AB Holding Units from employees 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. 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 second quarter of 2021 expired at the close of business on July 28, 2021. 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 six months of 2021 and 2020, we awarded to employees and Eligible Directors 3.5 million and 0.2 million restricted AB Holding Unit awards, respectively. We used AB Holding Units repurchased during the applicable period and newly-issued AB Holding Units to fund these awards.

Net Income per Unit

Net Income per Unit	6 Months Ended
	Jun. 30, 2021
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands, except per unit amounts) Net income attributable to AB Unitholders $ 267,570 $ 177,321 $ 511,701 $ 371,641 Weighted average limited partnership units outstanding – basic 272,344 269,081 272,339 269,789 Dilutive effect of compensatory options to buy AB Holding Units 12 9 20 22 Weighted average limited partnership units outstanding – diluted 272,356 269,090 272,359 269,811 Basic net income per AB Unit $ 0.97 $ 0.65 $ 1.86 $ 1.36 Diluted net income per AB Unit $ 0.97 $ 0.65 $ 1.86 $ 1.36 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (amounts as shown) Anti-dilutive options excluded from diluted net income — 44,877 — 44,877

Cash Distributions

Cash Distributions	6 Months Ended
	Jun. 30, 2021
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.

Cash and Securities Segregated

Cash and Securities Segregated Under Federal Regulations and Other Requirements	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020, $1.1 billion and $1.8 billion, respectively, of U.S. Treasury Bills were segregated in a special reserve bank custody account for the exclusive benefit of our brokerage customers under Rule 15c3-3 of the Exchange Act.

Investments

Investments	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of: June 30, December 31, (in thousands) Equity securities: Long-term incentive compensation-related $ 30,808 $ 34,351 Seed capital 102,828 75,766 Other 8,415 55,439 Exchange-traded options 2,165 7,527 Investments in limited partnership hedge funds: Long-term incentive compensation-related 30,705 25,762 Seed capital 20,100 16,646 Time deposits 18,120 18,602 Other 15,505 19,282 Total investments $ 228,646 $ 253,375 Total investments related to long-term incentive compensation obligations of $61.5 million and $60.1 million as of June 30, 2021 and December 31, 2020, 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 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 trading 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. Regarding 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 June 30, 2021 and December 31, 2020, our total seed capital investments were $299.3 million and $310.3 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 June 30, 2021 and 2020 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Net gains (losses) recognized during the period $ 7,719 $ 14,386 $ 12,606 $ (7,600) Less: net gains recognized during the period on equity securities sold during the period 12,156 7,471 16,721 6,076 Unrealized (losses) gains recognized during the period on equity securities held $ (4,437) $ 6,915 $ (4,115) $ (13,676)

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2021
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 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 June 30, 2021 and December 31, 2020 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) June 30, 2021: Exchange-traded futures $ 128,533 $ 497 $ 758 Currency forwards 49,260 8,332 7,661 Interest rate swaps 13,483 372 441 Credit default swaps 121,176 7,275 7,180 Total return swaps 47,390 116 762 Option swaps 50,000 — 112 Total derivatives $ 409,842 $ 16,592 $ 16,914 December 31, 2020: Exchange-traded futures $ 142,886 $ 118 $ 1,834 Currency forwards 63,906 8,576 8,451 Interest rate swaps 60,997 2,043 2,955 Credit default swaps 167,649 10,910 13,304 Total return swaps 52,061 94 1,847 Option swaps 2,486 — 2,146 Total derivatives $ 489,985 $ 21,741 $ 30,537 As of June 30, 2021 and December 31, 2020, 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 and six months ended June 30, 2021 and 2020 recognized in investment gains (losses) in the condensed consolidated statements of income were as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Exchange-traded futures $ (4,882) $ (5,818) $ (3,747) $ (4,812) Currency forwards (354) (212) 827 446 Interest rate swaps (111) 225 (23) (387) Credit default swaps (1,714) (4,311) (2,236) 7,790 Total return swaps (2,980) (18,966) (3,887) (3,851) Option swaps (1,373) (1,831) (12) (533) Net (losses) on derivative instruments $ (11,414) $ (30,913) $ (9,078) $ (1,347) We may be exposed to credit-related losses in the event of non-performance 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 June 30, 2021 and December 31, 2020, we held $2.1 million and $0.4 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 typically is utilized as the measure of volume in the derivatives 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, either a default or 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 June 30, 2021 and December 31, 2020, we delivered $4.4 million and $6.4 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.

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020 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 Cash Collateral Net (in thousands) June 30, 2021: Securities borrowed $ 26,081 $ — $ 26,081 $ (14,712) $ — $ 11,369 Derivatives $ 16,592 $ — $ 16,592 $ — $ (2,102) $ 14,490 Long exchange-traded options $ 2,165 $ — $ 2,165 $ — $ — $ 2,165 December 31, 2020: Securities borrowed $ 7,808 $ — $ 7,808 $ (7,344) $ — $ 464 Derivatives $ 21,741 $ — $ 21,741 $ — $ (380) $ 21,361 Long exchange-traded options $ 7,527 $ — $ 7,527 $ — $ — $ 7,527 Offsetting of liabilities as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net Amount (in thousands) June 30, 2021: Derivatives $ 16,914 $ — $ 16,914 $ — $ (4,379) $ 12,535 Short exchange-traded options $ 1,706 $ — $ 1,706 $ — $ — $ 1,706 December 31, 2020: Derivatives $ 30,537 $ — $ 30,537 $ — $ (6,374) $ 24,163 Short exchange-traded options $ 12,486 $ — $ 12,486 $ — $ — $ 12,486 Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020 was as follows (in thousands): Level 1 Level 2 Level 3 NAV Expedient (1) Other Total June 30, 2021: Money markets $ 158,844 $ — $ — $ — $ — $ 158,844 Securities segregated (U.S. Treasury Bills) — 1,072,928 — — — 1,072,928 Derivatives 497 16,095 — — — 16,592 Investments: Equity securities 123,315 18,450 126 160 — 142,051 Long exchange-traded options 2,165 — — — — 2,165 Limited partnership hedge funds (2) — — — — 50,805 50,805 Time deposits (3) — — — — 18,120 18,120 Other investments 8,164 — — — 7,341 15,505 Total investments 133,644 18,450 126 160 76,266 228,646 Total assets measured at fair value $ 292,985 $ 1,107,473 $ 126 $ 160 $ 76,266 $ 1,477,010 Securities sold not yet purchased: Short equities – corporate $ 11,003 $ — $ — $ — $ — $ 11,003 Short exchange-traded options 1,706 — — — — 1,706 Derivatives 758 16,156 — — — 16,914 Contingent payment arrangements — — 37,184 — — 37,184 Total liabilities measured at fair value $ 13,467 $ 16,156 $ 37,184 $ — $ — $ 66,807 Level 1 Level 2 Level 3 NAV Expedient (1) Other Total December 31, 2020: Money markets $ 130,675 $ — $ — $ — $ — $ 130,675 Securities segregated (U.S. Treasury Bills) — 1,752,906 — — — 1,752,906 Derivatives 118 21,623 — — — 21,741 Investments: Equity securities 147,705 17,565 125 161 — 165,556 Long exchange-traded options 7,527 — — — — 7,527 Limited partnership hedge funds (2) — — — — 42,408 42,408 Time deposits (3) — — — — 18,602 18,602 Other investments 7,011 — — — 12,271 19,282 Total investments 162,243 17,565 125 161 73,281 253,375 Total assets measured at fair value $ 293,036 $ 1,792,094 $ 125 $ 161 $ 73,281 $ 2,158,697 Securities sold not yet purchased: Short equities – corporate $ 5,305 $ — $ — $ — $ — $ 5,305 Short exchange-traded options 12,486 — — — — 12,486 Derivatives 1,834 28,703 — — — 30,537 Contingent payment arrangements — — 27,750 — — 27,750 Total liabilities measured at fair value $ 19,625 $ 28,703 $ 27,750 $ — $ — $ 76,078 (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 ($2.2 million and $2.1 million as of June 30, 2021 and December 31, 2020, respectively), (ii) investment in a start-up company that does not have a readily available fair value (this investment was $0.3 million as of both June 30, 2021 and December 31, 2020), (iii) investments in equity method investees that are not measured at fair value in accordance with GAAP ($2.1 million and $6.5 million as of June 30, 2021 and December 31, 2020, respectively), and (iv) broker dealer exchange memberships that are not measured at fair value in accordance with GAAP ($2.8 million and $3.3 million as of June 30, 2021 and December 31, 2020, respectively). 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 six months ended June 30, 2021 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 equity securities, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 124 $ 118 $ 125 $ 119 Purchases — — — — Sales — — — — Realized gains (losses), net — — — — Unrealized gains (losses), net 2 (4) 1 (5) Balance as of end of period $ 126 $ 114 $ 126 $ 114 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. As part of acquisitions made by the Company, we may enter into 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 36,073 $ 23,704 $ 27,750 $ 22,911 Addition 274 4,400 7,800 4,400 Accretion 837 806 1,634 1,599 Payments — — — — Balance as of end of period $ 37,184 $ 28,910 $ 37,184 $ 28,910 The liabilities were valued using expected revenue growth rates and discount rates. As of June 30, 2021, the expected revenue growth rates range from 2.0% to 83.9%, with a weighted average of 13.0%, calculated using cumulative revenues and range of revenue growth rates (excluding revenue growth from additional AUM contributed in year of acquisition). The discount rates ranged from 1.9% to 10.4%, with a weighted average of 6.6%, calculated using total contingent liabilities and range of discount rates. As of June 30, 2020 the expected revenue growth rates ranged from 0.7% to 50.0%, with a weighted average of 4.9%, calculated using cumulative revenues and a range of revenue growth rates. The discount rates ranged from 1.9% to 10.4%, with a weighted average of 8.0%, calculated using total contingent liabilities and range of discount rates.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
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 can 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	6 Months Ended
	Jun. 30, 2021
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 15 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. Leases included in the condensed consolidated statement of financial condition as of June 30, 2021 and December 31, 2020 were as follows: Classification June 30, 2021 December 31, 2020 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 404,238 $ 416,007 Operating lease liabilities Lease liabilities 481,046 503,174 Finance Leases Property and equipment, gross Right-of-use assets 7,329 5,167 Amortization of right-of-use assets Right-of-use assets (2,577) (2,719) Property and equipment, net 4,752 2,448 Finance lease liabilities Lease liabilities 4,797 2,375 The components of lease expense included in the condensed consolidated statement of income as of June 30, 2021 and June 30, 2020 were as follows: Three Months Ended June 30, Six Months Ended June 30, Classification 2021 2020 2021 2020 (in thousands) Operating lease cost General and administrative $ 24,629 $ 22,411 $ 49,047 $ 45,415 Financing lease cost: Amortization of right-of-use assets General and administrative 479 426 980 903 Interest on lease liabilities Interest expense 21 23 43 49 Total finance lease cost 500 449 1,023 952 Variable lease cost (1) General and administrative 10,344 9,833 19,890 19,310 Sublease income General and administrative (9,506) (9,626) (19,313) (19,241) Net lease cost $ 25,967 $ 23,067 $ 50,647 $ 46,436 (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. We derive most of our sub-tenant income 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) 2021 (excluding the six months ended June 30, 2021) $ 52,186 $ 903 $ 53,089 2022 102,262 1,552 103,814 2023 94,902 1,289 96,191 2024 91,698 722 92,420 2025 26,818 426 27,244 Thereafter 163,857 24 163,881 Total lease payments 531,723 4,916 536,639 Less interest (50,677) (119) Present value of lease liabilities $ 481,046 $ 4,797 We have signed a lease which commences in 2024, relating to approximately 166,000 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 $393.0 million. Lease term and discount rate: Weighted average remaining lease term (years): Operating leases 7.42 Finance leases 3.35 Weighted average discount rate: Operating leases 3.01 % Finance leases 1.71 % Supplemental cash flow information related to leases was as follows: Six Months Ended June 30, 2021 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 57,353 $ 58,107 Operating cash flows used for financing leases 43 49 Financing cash flows used for finance leases 862 959 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases (2) 29,333 (1,223) Finance leases 3,283 1,695 (1) Represents non-cash activity and, accordingly, is not reflected in the 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 15 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. Leases included in the condensed consolidated statement of financial condition as of June 30, 2021 and December 31, 2020 were as follows: Classification June 30, 2021 December 31, 2020 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 404,238 $ 416,007 Operating lease liabilities Lease liabilities 481,046 503,174 Finance Leases Property and equipment, gross Right-of-use assets 7,329 5,167 Amortization of right-of-use assets Right-of-use assets (2,577) (2,719) Property and equipment, net 4,752 2,448 Finance lease liabilities Lease liabilities 4,797 2,375 The components of lease expense included in the condensed consolidated statement of income as of June 30, 2021 and June 30, 2020 were as follows: Three Months Ended June 30, Six Months Ended June 30, Classification 2021 2020 2021 2020 (in thousands) Operating lease cost General and administrative $ 24,629 $ 22,411 $ 49,047 $ 45,415 Financing lease cost: Amortization of right-of-use assets General and administrative 479 426 980 903 Interest on lease liabilities Interest expense 21 23 43 49 Total finance lease cost 500 449 1,023 952 Variable lease cost (1) General and administrative 10,344 9,833 19,890 19,310 Sublease income General and administrative (9,506) (9,626) (19,313) (19,241) Net lease cost $ 25,967 $ 23,067 $ 50,647 $ 46,436 (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. We derive most of our sub-tenant income 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) 2021 (excluding the six months ended June 30, 2021) $ 52,186 $ 903 $ 53,089 2022 102,262 1,552 103,814 2023 94,902 1,289 96,191 2024 91,698 722 92,420 2025 26,818 426 27,244 Thereafter 163,857 24 163,881 Total lease payments 531,723 4,916 536,639 Less interest (50,677) (119) Present value of lease liabilities $ 481,046 $ 4,797 We have signed a lease which commences in 2024, relating to approximately 166,000 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 $393.0 million. Lease term and discount rate: Weighted average remaining lease term (years): Operating leases 7.42 Finance leases 3.35 Weighted average discount rate: Operating leases 3.01 % Finance leases 1.71 % Supplemental cash flow information related to leases was as follows: Six Months Ended June 30, 2021 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 57,353 $ 58,107 Operating cash flows used for financing leases 43 49 Financing cash flows used for finance leases 862 959 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases (2) 29,333 (1,223) Finance leases 3,283 1,695 (1) Represents non-cash activity and, accordingly, is not reflected in the consolidated statements of cash flows.

Consolidated Company-Sponsored

Consolidated Company-Sponsored Investment Funds	6 Months Ended
	Jun. 30, 2021
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 regarding 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: June 30, 2021 December 31, 2020 (in thousands) VIEs VOEs Total VIEs VOEs Total Cash and cash equivalents $ 30,456 $ — $ 30,456 $ 36,370 $ 136 $ 36,506 Investments 166,940 — 166,940 242,541 60,041 302,582 Other assets 8,288 — 8,288 4,859 7,385 12,244 Total assets $ 205,684 $ — $ 205,684 $ 283,770 $ 67,562 $ 351,332 Liabilities $ 11,317 $ — $ 11,317 $ 7,741 $ 22,879 $ 30,620 Redeemable non-controlling interest 17,803 — 17,803 82,753 19,606 102,359 Partners' capital attributable to AB Unitholders 176,564 — 176,564 193,276 25,077 218,353 Total liabilities, redeemable non-controlling interest and partners' capital $ 205,684 $ — $ 205,684 $ 283,770 $ 67,562 $ 351,332 During the second quarter of 2021, we deconsolidated two funds in which we had a seed investment of approximately $86.1 million due to no longer having a controlling financial interest. 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 June 30, 2021 and December 31, 2020 was as follows (in thousands): Level 1 Level 2 Level 3 Total June 30, 2021: Investments - VIEs $ 53,028 $ 113,702 $ 210 $ 166,940 Derivatives - VIEs 240 1,711 — 1,951 Total assets measured at fair value $ 53,268 $ 115,413 $ 210 $ 168,891 Derivatives - VIEs 2,927 1,422 — 4,349 Total liabilities measured at fair value $ 2,927 $ 1,422 $ — $ 4,349 December 31, 2020: Investments - VIEs $ 73,909 $ 168,114 $ 518 $ 242,541 Investments - VOEs — 59,940 101 60,041 Derivatives - VIEs 442 2,782 — 3,224 Derivatives - VOEs — 464 — 464 Total assets measured at fair value $ 74,351 $ 231,300 $ 619 $ 306,270 Derivatives - VIEs $ 1,649 $ 5,244 $ — $ 6,893 Derivatives - VOEs — 664 — 664 Total liabilities measured at fair value $ 1,649 $ 5,908 $ — $ 7,557 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 717 $ 534 $ 619 $ 854 Deconsolidated funds (717) (135) (717) (135) Transfers (out) in — 340 (10) 571 Purchases 204 13 323 46 Sales — (82) (3) (444) Realized gains (losses), net — (14) 3 (14) Unrealized gains (losses), net 6 (138) (5) (362) Accrued discounts — (1) — 1 Balance as of end of period $ 210 $ 517 $ 210 $ 517 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 June 30, 2021 and December 31, 2020, the VIEs held $2.4 million and $3.7 million (net), respectively, of futures, forwards and swaps within their portfolios. For the three and six months ended June 30, 2021, we recognized $1.8 million and $0.7 million of gains, respectively, on these derivatives. For the three and six months ended June 30, 2020, we recognized $1.0 million of gains and $0.7 million of losses, respectively, on these derivatives. These gains and losses are recognized in investment gains (losses) in the condensed consolidated statements of income. As of June 30, 2021 and December 31, 2020, the VIEs held $0.4 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 June 30, 2021 and December 31, 2020, the VIEs delivered $1.0 million and $4.2 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 June 30, 2021 and December 31, 2020, the VOEs held zero and $0.2 million (net), respectively, of futures, forwards, options and swaps within their portfolios. For the three and six months ended June 30, 2021, we recognized zero and $0.9 million of gains, respectively, on these derivatives. For the three and six months ended June 30, 2020, we recognized $0.8 million and $0.9 million of losses, respectively, on these derivatives. These gains and losses are recognized in investment gains (losses) in the condensed consolidated statements of income. As of both June 30, 2021 and December 31, 2020, the VOEs held no 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 June 30, 2021 and December 31, 2020, the VOEs delivered zero and $0.1 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 June 30, 2021 and December 31, 2020 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 Cash Collateral Net (in thousands) June 30, 2021: Derivatives - VIEs $ 1,951 $ — $ 1,951 $ — $ (442) $ 1,509 December 31, 2020: Derivatives - VIEs $ 3,224 $ — $ 3,224 $ — $ (513) $ 2,711 Derivatives - VOEs $ 464 $ — $ 464 $ — $ — $ 464 Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net Amount (in thousands) June 30, 2021: Derivatives - VIEs $ 4,349 $ — $ 4,349 $ — $ (989) $ 3,360 December 31, 2020: Derivatives - VIEs $ 6,893 $ — $ 6,893 $ — $ (4,201) $ 2,692 Derivatives - VOEs $ 664 $ — $ 664 $ — $ (138) $ 526 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 June 30, 2021, the net assets of company-sponsored investment products that are non-consolidated VIEs are approximately $73.3 billion, and our maximum risk of loss is our investment of $8.8 million in these VIEs and our advisory fee receivables from these VIEs is $77.6 million.

Units Outstanding

Units Outstanding	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Units Outstanding	Units Outstanding Changes in AB Units outstanding during the six-month period ended June 30, 2021 were as follows: Outstanding as of December 31, 2020 270,509,658 Options exercised 143,211 Units issued 3,019,529 Units retired (1) (1,678,276) Outstanding as of June 30, 2021 271,994,122 (1) During the six-months ended June 30, 2021, we purchased 1,400 AB Units in private transactions and retired them.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021, 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 June 30, 2021 and December 31, 2020, we had no amounts outstanding under the Credit Facility. Furthermore, during the first six months of 2021 and the full year 2020, we did not draw upon the Credit Facility. AB also 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 June 30, 2021 and December 31, 2020, AB had $590.0 million and $675.0 million outstanding under the EQH Facility, in each case with an interest rate of approximately 0.2%. Average daily borrowings on the EQH Facility for the first six months of 2021 and the full year 2020 were $551.2 million and $470.8 million, respectively, with weighted average interest rates of approximately 0.2% and 0.5%, respectively. In addition to the EQH Facility, on September 1, 2020, AB established a new $300.0 million uncommitted, unsecured senior credit facility (“EQH Uncommitted Facility”) with EQH. The EQH Uncommitted Facility matures on September 1, 2024 and is available for AB's general business purposes. Borrowings under the EQH Unsecured Facility generally bear interest at a rate per annum based on prevailing overnight commercial paper rates. The EQH Uncommitted Facility contains affirmative, negative and financial covenants which are substantially similar to those in the EQH Facility. As of June 30, 2021 and December 31, 2020, we had no amounts outstanding under the EQH Uncommitted Facility. Furthermore, during the first six months of 2021 and the full year 2020, we did not draw upon the EQH Uncommitted Facility. As of June 30, 2021 and December 31, 2020, 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 six months of 2021 and full year 2020 were $110.8 million and $83.2 million, respectively, with weighted average interest rates of approximately 0.2% and 0.4%, 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. Borrowings under the Revolver 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 both June 30, 2021 and December 31, 2020, we had no amounts outstanding under the Revolver. Average daily borrowings under the Revolver during the first six months of 2021 and full year 2020 were $22.0 million and $16.5 million, respectively, with weighted average interest rates of approximately 1.1% and 1.6%, 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 $165.0 million, with AB named as an additional borrower,

Non-controlling Interests

Non-controlling Interests	6 Months Ended
	Jun. 30, 2021
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling Interests Non-controlling interest in net income for the three and six months ended June 30, 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Redeemable non-controlling interests: Consolidated company-sponsored investment funds 3,573 20,940 $ 3,281 $ (4,631) Total non-controlling interest in net income $ 3,573 $ 20,940 $ 3,281 $ (4,631) Redeemable non-controlling interest as of June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 (in thousands) Consolidated company-sponsored investment funds $ 17,803 $ 102,359 Total redeemable non-controlling interest $ 17,803 $ 102,359

Business Description Organiza_2

Business Description Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
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, 2020 was derived from audited financial statements. Certain disclosures included in the annual financial statements have been condensed or omitted from these financial statements as they are not required for interim financial statements under principles generally accepted in the United States of America ("GAAP") and the rules of the Securities and Exchange Commission.
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 2021, prior period amounts previously presented as net issuance (repayment) of commercial paper, proceeds (repayment) of EQH facility and proceeds (repayment) of bank loans are now combined and presented as net repayments (borrowings) of debt in the condensed consolidated statements of cash flows to conform to the current period's presentation.
Recently Adopted Accounting Pronouncements / Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements 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. We adopted this standard prospectively on January 1, 2021. The adoption of this standard did 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. We adopted this standard prospectively on January 1, 2021. The adoption of this standard did not have a material impact on our financial condition or results of operations.

Business Description Organiza_3

Business Description Organization and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership Structure of AB as a Percentage of General and Limited Partnership Interests	As of June 30, 2021, 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 62.9 % AB Holding 36.3 Unaffiliated holders 0.8 100.0 %

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues for the three and six months ended June 30, 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Subject to contracts with customers: Investment advisory and services fees Base fees $ 723,717 $ 569,296 $ 1,411,408 $ 1,182,883 Performance-based fees 53,907 8,907 69,682 17,045 Bernstein research services 105,655 113,609 224,676 242,832 Distribution revenues All-in-management fees 86,073 75,828 171,255 162,185 12b-1 fees 20,653 17,830 40,687 37,283 Other 48,812 26,441 91,196 51,488 Other revenues Shareholder servicing fees 22,383 19,694 44,078 40,537 Other 2,933 5,790 8,616 10,462 1,064,133 837,395 2,061,598 1,744,715 Not subject to contracts with customers: Dividend and interest income, net of interest expense 7,924 9,257 15,464 20,403 Investment gains (losses) 4,181 24,189 6,109 (20,117) Other revenues 584 608 917 604 12,689 34,054 22,490 890 Total net revenues $ 1,076,822 $ 871,449 $ 2,084,088 $ 1,745,605

Long-term Incentive Compensat_2

Long-term Incentive Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity	Repurchases of AB Holding Units for the three and six months ended June 30, 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in millions) Total amount of AB Holding Units Purchased (1) 0.9 1.3 1.9 2.2 Total Cash Paid for AB Holding Units Purchased (1) $ 38.3 $ 27.8 $ 75.7 $ 47.6 Open Market Purchases of AB Holding Units Purchased (2) 0.8 1.3 1.4 2.2 Total Cash Paid for Open Market Purchases of AB Holding Units (2) $ 34.6 $ 27.8 $ 58.8 $ 45.1 (1) Purchased on a trade date basis. (2) The remainder related to purchases of AB Holding Units from employees 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)	6 Months Ended
	Jun. 30, 2021
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands, except per unit amounts) Net income attributable to AB Unitholders $ 267,570 $ 177,321 $ 511,701 $ 371,641 Weighted average limited partnership units outstanding – basic 272,344 269,081 272,339 269,789 Dilutive effect of compensatory options to buy AB Holding Units 12 9 20 22 Weighted average limited partnership units outstanding – diluted 272,356 269,090 272,359 269,811 Basic net income per AB Unit $ 0.97 $ 0.65 $ 1.86 $ 1.36 Diluted net income per AB Unit $ 0.97 $ 0.65 $ 1.86 $ 1.36 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (amounts as shown) Anti-dilutive options excluded from diluted net income — 44,877 — 44,877

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	Investments consist of: June 30, December 31, (in thousands) Equity securities: Long-term incentive compensation-related $ 30,808 $ 34,351 Seed capital 102,828 75,766 Other 8,415 55,439 Exchange-traded options 2,165 7,527 Investments in limited partnership hedge funds: Long-term incentive compensation-related 30,705 25,762 Seed capital 20,100 16,646 Time deposits 18,120 18,602 Other 15,505 19,282 Total investments $ 228,646 $ 253,375
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 June 30, 2021 and 2020 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Net gains (losses) recognized during the period $ 7,719 $ 14,386 $ 12,606 $ (7,600) Less: net gains recognized during the period on equity securities sold during the period 12,156 7,471 16,721 6,076 Unrealized (losses) gains recognized during the period on equity securities held $ (4,437) $ 6,915 $ (4,115) $ (13,676)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020 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) June 30, 2021: Exchange-traded futures $ 128,533 $ 497 $ 758 Currency forwards 49,260 8,332 7,661 Interest rate swaps 13,483 372 441 Credit default swaps 121,176 7,275 7,180 Total return swaps 47,390 116 762 Option swaps 50,000 — 112 Total derivatives $ 409,842 $ 16,592 $ 16,914 December 31, 2020: Exchange-traded futures $ 142,886 $ 118 $ 1,834 Currency forwards 63,906 8,576 8,451 Interest rate swaps 60,997 2,043 2,955 Credit default swaps 167,649 10,910 13,304 Total return swaps 52,061 94 1,847 Option swaps 2,486 — 2,146 Total derivatives $ 489,985 $ 21,741 $ 30,537
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 and six months ended June 30, 2021 and 2020 recognized in investment gains (losses) in the condensed consolidated statements of income were as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Exchange-traded futures $ (4,882) $ (5,818) $ (3,747) $ (4,812) Currency forwards (354) (212) 827 446 Interest rate swaps (111) 225 (23) (387) Credit default swaps (1,714) (4,311) (2,236) 7,790 Total return swaps (2,980) (18,966) (3,887) (3,851) Option swaps (1,373) (1,831) (12) (533) Net (losses) on derivative instruments $ (11,414) $ (30,913) $ (9,078) $ (1,347)

Offsetting Assets and Liabili_2

Offsetting Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Offsetting [Abstract]
Schedule of Offsetting of Financial Assets	Offsetting of assets as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net (in thousands) June 30, 2021: Securities borrowed $ 26,081 $ — $ 26,081 $ (14,712) $ — $ 11,369 Derivatives $ 16,592 $ — $ 16,592 $ — $ (2,102) $ 14,490 Long exchange-traded options $ 2,165 $ — $ 2,165 $ — $ — $ 2,165 December 31, 2020: Securities borrowed $ 7,808 $ — $ 7,808 $ (7,344) $ — $ 464 Derivatives $ 21,741 $ — $ 21,741 $ — $ (380) $ 21,361 Long exchange-traded options $ 7,527 $ — $ 7,527 $ — $ — $ 7,527 Offsetting of derivative assets of consolidated company-sponsored investment funds as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net (in thousands) June 30, 2021: Derivatives - VIEs $ 1,951 $ — $ 1,951 $ — $ (442) $ 1,509 December 31, 2020: Derivatives - VIEs $ 3,224 $ — $ 3,224 $ — $ (513) $ 2,711 Derivatives - VOEs $ 464 $ — $ 464 $ — $ — $ 464
Schedule of Offsetting of Financial Liabilities	Offsetting of liabilities as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net Amount (in thousands) June 30, 2021: Derivatives $ 16,914 $ — $ 16,914 $ — $ (4,379) $ 12,535 Short exchange-traded options $ 1,706 $ — $ 1,706 $ — $ — $ 1,706 December 31, 2020: Derivatives $ 30,537 $ — $ 30,537 $ — $ (6,374) $ 24,163 Short exchange-traded options $ 12,486 $ — $ 12,486 $ — $ — $ 12,486 Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net Amount (in thousands) June 30, 2021: Derivatives - VIEs $ 4,349 $ — $ 4,349 $ — $ (989) $ 3,360 December 31, 2020: Derivatives - VIEs $ 6,893 $ — $ 6,893 $ — $ (4,201) $ 2,692 Derivatives - VOEs $ 664 $ — $ 664 $ — $ (138) $ 526

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020 was as follows (in thousands): Level 1 Level 2 Level 3 NAV Expedient (1) Other Total June 30, 2021: Money markets $ 158,844 $ — $ — $ — $ — $ 158,844 Securities segregated (U.S. Treasury Bills) — 1,072,928 — — — 1,072,928 Derivatives 497 16,095 — — — 16,592 Investments: Equity securities 123,315 18,450 126 160 — 142,051 Long exchange-traded options 2,165 — — — — 2,165 Limited partnership hedge funds (2) — — — — 50,805 50,805 Time deposits (3) — — — — 18,120 18,120 Other investments 8,164 — — — 7,341 15,505 Total investments 133,644 18,450 126 160 76,266 228,646 Total assets measured at fair value $ 292,985 $ 1,107,473 $ 126 $ 160 $ 76,266 $ 1,477,010 Securities sold not yet purchased: Short equities – corporate $ 11,003 $ — $ — $ — $ — $ 11,003 Short exchange-traded options 1,706 — — — — 1,706 Derivatives 758 16,156 — — — 16,914 Contingent payment arrangements — — 37,184 — — 37,184 Total liabilities measured at fair value $ 13,467 $ 16,156 $ 37,184 $ — $ — $ 66,807 Level 1 Level 2 Level 3 NAV Expedient (1) Other Total December 31, 2020: Money markets $ 130,675 $ — $ — $ — $ — $ 130,675 Securities segregated (U.S. Treasury Bills) — 1,752,906 — — — 1,752,906 Derivatives 118 21,623 — — — 21,741 Investments: Equity securities 147,705 17,565 125 161 — 165,556 Long exchange-traded options 7,527 — — — — 7,527 Limited partnership hedge funds (2) — — — — 42,408 42,408 Time deposits (3) — — — — 18,602 18,602 Other investments 7,011 — — — 12,271 19,282 Total investments 162,243 17,565 125 161 73,281 253,375 Total assets measured at fair value $ 293,036 $ 1,792,094 $ 125 $ 161 $ 73,281 $ 2,158,697 Securities sold not yet purchased: Short equities – corporate $ 5,305 $ — $ — $ — $ — $ 5,305 Short exchange-traded options 12,486 — — — — 12,486 Derivatives 1,834 28,703 — — — 30,537 Contingent payment arrangements — — 27,750 — — 27,750 Total liabilities measured at fair value $ 19,625 $ 28,703 $ 27,750 $ — $ — $ 76,078 (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. Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of June 30, 2021 and December 31, 2020 was as follows (in thousands): Level 1 Level 2 Level 3 Total June 30, 2021: Investments - VIEs $ 53,028 $ 113,702 $ 210 $ 166,940 Derivatives - VIEs 240 1,711 — 1,951 Total assets measured at fair value $ 53,268 $ 115,413 $ 210 $ 168,891 Derivatives - VIEs 2,927 1,422 — 4,349 Total liabilities measured at fair value $ 2,927 $ 1,422 $ — $ 4,349 December 31, 2020: Investments - VIEs $ 73,909 $ 168,114 $ 518 $ 242,541 Investments - VOEs — 59,940 101 60,041 Derivatives - VIEs 442 2,782 — 3,224 Derivatives - VOEs — 464 — 464 Total assets measured at fair value $ 74,351 $ 231,300 $ 619 $ 306,270 Derivatives - VIEs $ 1,649 $ 5,244 $ — $ 6,893 Derivatives - VOEs — 664 — 664 Total liabilities measured at fair value $ 1,649 $ 5,908 $ — $ 7,557
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 equity securities, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 124 $ 118 $ 125 $ 119 Purchases — — — — Sales — — — — Realized gains (losses), net — — — — Unrealized gains (losses), net 2 (4) 1 (5) Balance as of end of period $ 126 $ 114 $ 126 $ 114 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 717 $ 534 $ 619 $ 854 Deconsolidated funds (717) (135) (717) (135) Transfers (out) in — 340 (10) 571 Purchases 204 13 323 46 Sales — (82) (3) (444) Realized gains (losses), net — (14) 3 (14) Unrealized gains (losses), net 6 (138) (5) (362) Accrued discounts — (1) — 1 Balance as of end of period $ 210 $ 517 $ 210 $ 517
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 36,073 $ 23,704 $ 27,750 $ 22,911 Addition 274 4,400 7,800 4,400 Accretion 837 806 1,634 1,599 Payments — — — — Balance as of end of period $ 37,184 $ 28,910 $ 37,184 $ 28,910

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Leases	Leases included in the condensed consolidated statement of financial condition as of June 30, 2021 and December 31, 2020 were as follows: Classification June 30, 2021 December 31, 2020 (in thousands) Operating Leases Operating lease right-of-use assets Right-of-use assets $ 404,238 $ 416,007 Operating lease liabilities Lease liabilities 481,046 503,174 Finance Leases Property and equipment, gross Right-of-use assets 7,329 5,167 Amortization of right-of-use assets Right-of-use assets (2,577) (2,719) Property and equipment, net 4,752 2,448 Finance lease liabilities Lease liabilities 4,797 2,375
Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense included in the condensed consolidated statement of income as of June 30, 2021 and June 30, 2020 were as follows: Three Months Ended June 30, Six Months Ended June 30, Classification 2021 2020 2021 2020 (in thousands) Operating lease cost General and administrative $ 24,629 $ 22,411 $ 49,047 $ 45,415 Financing lease cost: Amortization of right-of-use assets General and administrative 479 426 980 903 Interest on lease liabilities Interest expense 21 23 43 49 Total finance lease cost 500 449 1,023 952 Variable lease cost (1) General and administrative 10,344 9,833 19,890 19,310 Sublease income General and administrative (9,506) (9,626) (19,313) (19,241) Net lease cost $ 25,967 $ 23,067 $ 50,647 $ 46,436 (1) Variable lease expense includes operating expenses, real estate taxes and employee parking. Lease term and discount rate: Weighted average remaining lease term (years): Operating leases 7.42 Finance leases 3.35 Weighted average discount rate: Operating leases 3.01 % Finance leases 1.71 % Supplemental cash flow information related to leases was as follows: Six Months Ended June 30, 2021 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 57,353 $ 58,107 Operating cash flows used for financing leases 43 49 Financing cash flows used for finance leases 862 959 Right-of-use assets obtained in exchange for lease obligations (1) : Operating leases (2) 29,333 (1,223) Finance leases 3,283 1,695 (1) Represents non-cash activity and, accordingly, is not reflected in the consolidated statements of cash flows.
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) 2021 (excluding the six months ended June 30, 2021) $ 52,186 $ 903 $ 53,089 2022 102,262 1,552 103,814 2023 94,902 1,289 96,191 2024 91,698 722 92,420 2025 26,818 426 27,244 Thereafter 163,857 24 163,881 Total lease payments 531,723 4,916 536,639 Less interest (50,677) (119) Present value of lease liabilities $ 481,046 $ 4,797
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) 2021 (excluding the six months ended June 30, 2021) $ 52,186 $ 903 $ 53,089 2022 102,262 1,552 103,814 2023 94,902 1,289 96,191 2024 91,698 722 92,420 2025 26,818 426 27,244 Thereafter 163,857 24 163,881 Total lease payments 531,723 4,916 536,639 Less interest (50,677) (119) Present value of lease liabilities $ 481,046 $ 4,797

Consolidated Company-Sponsore_2

Consolidated Company-Sponsored Investment Funds (Tables)	6 Months Ended
	Jun. 30, 2021
Consolidated Company-Sponsored Investment Funds [Abstract]
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: June 30, 2021 December 31, 2020 (in thousands) VIEs VOEs Total VIEs VOEs Total Cash and cash equivalents $ 30,456 $ — $ 30,456 $ 36,370 $ 136 $ 36,506 Investments 166,940 — 166,940 242,541 60,041 302,582 Other assets 8,288 — 8,288 4,859 7,385 12,244 Total assets $ 205,684 $ — $ 205,684 $ 283,770 $ 67,562 $ 351,332 Liabilities $ 11,317 $ — $ 11,317 $ 7,741 $ 22,879 $ 30,620 Redeemable non-controlling interest 17,803 — 17,803 82,753 19,606 102,359 Partners' capital attributable to AB Unitholders 176,564 — 176,564 193,276 25,077 218,353 Total liabilities, redeemable non-controlling interest and partners' capital $ 205,684 $ — $ 205,684 $ 283,770 $ 67,562 $ 351,332
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Valuation of our financial instruments by pricing observability levels as of June 30, 2021 and December 31, 2020 was as follows (in thousands): Level 1 Level 2 Level 3 NAV Expedient (1) Other Total June 30, 2021: Money markets $ 158,844 $ — $ — $ — $ — $ 158,844 Securities segregated (U.S. Treasury Bills) — 1,072,928 — — — 1,072,928 Derivatives 497 16,095 — — — 16,592 Investments: Equity securities 123,315 18,450 126 160 — 142,051 Long exchange-traded options 2,165 — — — — 2,165 Limited partnership hedge funds (2) — — — — 50,805 50,805 Time deposits (3) — — — — 18,120 18,120 Other investments 8,164 — — — 7,341 15,505 Total investments 133,644 18,450 126 160 76,266 228,646 Total assets measured at fair value $ 292,985 $ 1,107,473 $ 126 $ 160 $ 76,266 $ 1,477,010 Securities sold not yet purchased: Short equities – corporate $ 11,003 $ — $ — $ — $ — $ 11,003 Short exchange-traded options 1,706 — — — — 1,706 Derivatives 758 16,156 — — — 16,914 Contingent payment arrangements — — 37,184 — — 37,184 Total liabilities measured at fair value $ 13,467 $ 16,156 $ 37,184 $ — $ — $ 66,807 Level 1 Level 2 Level 3 NAV Expedient (1) Other Total December 31, 2020: Money markets $ 130,675 $ — $ — $ — $ — $ 130,675 Securities segregated (U.S. Treasury Bills) — 1,752,906 — — — 1,752,906 Derivatives 118 21,623 — — — 21,741 Investments: Equity securities 147,705 17,565 125 161 — 165,556 Long exchange-traded options 7,527 — — — — 7,527 Limited partnership hedge funds (2) — — — — 42,408 42,408 Time deposits (3) — — — — 18,602 18,602 Other investments 7,011 — — — 12,271 19,282 Total investments 162,243 17,565 125 161 73,281 253,375 Total assets measured at fair value $ 293,036 $ 1,792,094 $ 125 $ 161 $ 73,281 $ 2,158,697 Securities sold not yet purchased: Short equities – corporate $ 5,305 $ — $ — $ — $ — $ 5,305 Short exchange-traded options 12,486 — — — — 12,486 Derivatives 1,834 28,703 — — — 30,537 Contingent payment arrangements — — 27,750 — — 27,750 Total liabilities measured at fair value $ 19,625 $ 28,703 $ 27,750 $ — $ — $ 76,078 (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. Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of June 30, 2021 and December 31, 2020 was as follows (in thousands): Level 1 Level 2 Level 3 Total June 30, 2021: Investments - VIEs $ 53,028 $ 113,702 $ 210 $ 166,940 Derivatives - VIEs 240 1,711 — 1,951 Total assets measured at fair value $ 53,268 $ 115,413 $ 210 $ 168,891 Derivatives - VIEs 2,927 1,422 — 4,349 Total liabilities measured at fair value $ 2,927 $ 1,422 $ — $ 4,349 December 31, 2020: Investments - VIEs $ 73,909 $ 168,114 $ 518 $ 242,541 Investments - VOEs — 59,940 101 60,041 Derivatives - VIEs 442 2,782 — 3,224 Derivatives - VOEs — 464 — 464 Total assets measured at fair value $ 74,351 $ 231,300 $ 619 $ 306,270 Derivatives - VIEs $ 1,649 $ 5,244 $ — $ 6,893 Derivatives - VOEs — 664 — 664 Total liabilities measured at fair value $ 1,649 $ 5,908 $ — $ 7,557
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 equity securities, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 124 $ 118 $ 125 $ 119 Purchases — — — — Sales — — — — Realized gains (losses), net — — — — Unrealized gains (losses), net 2 (4) 1 (5) Balance as of end of period $ 126 $ 114 $ 126 $ 114 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Balance as of beginning of period $ 717 $ 534 $ 619 $ 854 Deconsolidated funds (717) (135) (717) (135) Transfers (out) in — 340 (10) 571 Purchases 204 13 323 46 Sales — (82) (3) (444) Realized gains (losses), net — (14) 3 (14) Unrealized gains (losses), net 6 (138) (5) (362) Accrued discounts — (1) — 1 Balance as of end of period $ 210 $ 517 $ 210 $ 517
Schedule of Offsetting of Derivative Assets	Offsetting of assets as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net (in thousands) June 30, 2021: Securities borrowed $ 26,081 $ — $ 26,081 $ (14,712) $ — $ 11,369 Derivatives $ 16,592 $ — $ 16,592 $ — $ (2,102) $ 14,490 Long exchange-traded options $ 2,165 $ — $ 2,165 $ — $ — $ 2,165 December 31, 2020: Securities borrowed $ 7,808 $ — $ 7,808 $ (7,344) $ — $ 464 Derivatives $ 21,741 $ — $ 21,741 $ — $ (380) $ 21,361 Long exchange-traded options $ 7,527 $ — $ 7,527 $ — $ — $ 7,527 Offsetting of derivative assets of consolidated company-sponsored investment funds as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net (in thousands) June 30, 2021: Derivatives - VIEs $ 1,951 $ — $ 1,951 $ — $ (442) $ 1,509 December 31, 2020: Derivatives - VIEs $ 3,224 $ — $ 3,224 $ — $ (513) $ 2,711 Derivatives - VOEs $ 464 $ — $ 464 $ — $ — $ 464
Schedule of Offsetting of Derivative Liabilities	Offsetting of liabilities as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net Amount (in thousands) June 30, 2021: Derivatives $ 16,914 $ — $ 16,914 $ — $ (4,379) $ 12,535 Short exchange-traded options $ 1,706 $ — $ 1,706 $ — $ — $ 1,706 December 31, 2020: Derivatives $ 30,537 $ — $ 30,537 $ — $ (6,374) $ 24,163 Short exchange-traded options $ 12,486 $ — $ 12,486 $ — $ — $ 12,486 Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2021 and December 31, 2020 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 Cash Collateral Net Amount (in thousands) June 30, 2021: Derivatives - VIEs $ 4,349 $ — $ 4,349 $ — $ (989) $ 3,360 December 31, 2020: Derivatives - VIEs $ 6,893 $ — $ 6,893 $ — $ (4,201) $ 2,692 Derivatives - VOEs $ 664 $ — $ 664 $ — $ (138) $ 526

Units Outstanding (Tables)

Units Outstanding (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Changes in AB Units Outstanding	Changes in AB Units outstanding during the six-month period ended June 30, 2021 were as follows: Outstanding as of December 31, 2020 270,509,658 Options exercised 143,211 Units issued 3,019,529 Units retired (1) (1,678,276) Outstanding as of June 30, 2021 271,994,122 (1) During the six-months ended June 30, 2021, we purchased 1,400 AB Units in private transactions and retired them.

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	6 Months Ended
	Jun. 30, 2021
Noncontrolling Interest [Abstract]
Non-controlling Interest in Net Income	Non-controlling interest in net income for the three and six months ended June 30, 2021 and 2020 consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Redeemable non-controlling interests: Consolidated company-sponsored investment funds 3,573 20,940 $ 3,281 $ (4,631) Total non-controlling interest in net income $ 3,573 $ 20,940 $ 3,281 $ (4,631)
Redeemable Noncontrolling Interest	Redeemable non-controlling interest as of June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 (in thousands) Consolidated company-sponsored investment funds $ 17,803 $ 102,359 Total redeemable non-controlling interest $ 17,803 $ 102,359

Business Description Organiza_4

Business Description Organization and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2021shares
AB Holding | EQH
General partnership information [Abstract]
General partnership interest in Company (percent)	4.00%
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)	36.30%
EQH and its subsidiaries | AB
General partnership information [Abstract]
Limited partners or members ownership interest in company (percent)	62.90%
Unaffiliated holders | AB
General partnership information [Abstract]
Limited partners or members ownership interest in company (percent)	0.80%
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)	64.40%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	$ 1,064,133	$ 837,395	$ 2,061,598	$ 1,744,715
Not subject to contracts with customers:
Dividend and interest income, net of interest expense	7,924	9,257	15,464	20,403
Investment gains (losses)	4,181	24,189	6,109	(20,117)
Other revenues	584	608	917	604
Total revenue not from contract with customer	12,689	34,054	22,490	890
Net revenues	1,076,822	871,449	2,084,088	1,745,605
Base fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	723,717	569,296	1,411,408	1,182,883
Performance-based fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	53,907	8,907	69,682	17,045
Bernstein research services
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	105,655	113,609	224,676	242,832
All-in-management fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	86,073	75,828	171,255	162,185
12b-1 fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	20,653	17,830	40,687	37,283
Other
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	48,812	26,441	91,196	51,488
Shareholder servicing fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	22,383	19,694	44,078	40,537
Other
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	$ 2,933	$ 5,790	$ 8,616	$ 10,462

Long-term Incentive Compensat_3

Long-term Incentive Compensation Plans - Unit Purchase Activity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Total amount of AB Holding Units Purchased (in units)	0.9	1.3	1.9	2.2
Total Cash Paid for AB Holding Units Purchased	$ 38.3	$ 27.8	$ 75.7	$ 47.6
Open Market Purchases of AB Holding Units Purchased (in units)	0.8	1.3	1.4	2.2
Total Cash Paid for Open Market Purchases of AB Holding Units	$ 34.6	$ 27.8	$ 58.8	$ 45.1

Long-term Incentive Compensat_4

Long-term Incentive Compensation Plans (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Units granted to employees and Eligible Directors (in units)	3,500,000	200,000
Units issued upon exercise of options (in units)	143,211	5,182
Proceeds from stock options exercised	$ 3,402	$ 147

Net Income per Unit (Details)

Net Income per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
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	$ 267,570	$ 177,321	$ 511,701	$ 371,641
Weighted average limited partnership units outstanding – basic (in units)	272,344,000	269,081,000	272,339,000	269,789,000
Dilutive effect of compensatory options to buy AB Holding Units (in units)	12,000	9,000	20,000	22,000
Weighted average limited partnership units outstanding – diluted (in units)	272,356,000	269,090,000	272,359,000	269,811,000
Basic net income per AB Unit (in dollars per unit)	$ 0.97	$ 0.65	$ 1.86	$ 1.36
Diluted net income per AB Unit (in dollars per unit)	$ 0.97	$ 0.65	$ 1.86	$ 1.36
Anti-dilutive options excluded from diluted net income (in units)	0	44,877	0	44,877
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	Jul. 29, 2021	Jun. 30, 2021
Subsequent Event
Distribution Made to Limited Partner [Line Items]
Distribution declared (in dollars per unit)	$ 0.97
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	Jun. 30, 2021	Dec. 31, 2020
Brokers and Dealers [Abstract]
United States Treasury Bills in special reserve bank custody account for exclusive benefit of brokerage customers	$ 1.1	$ 1.8

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Summary of Investment Holdings [Line Items]
Investments owned	$ 228,646	$ 253,375
Long-term incentive compensation obligations	61,500	60,100
Seed capital
Summary of Investment Holdings [Line Items]
Investments owned	299,300	310,300
Equity securities | Long-term incentive compensation-related
Summary of Investment Holdings [Line Items]
Investments owned	30,808	34,351
Equity securities | Seed capital
Summary of Investment Holdings [Line Items]
Investments owned	102,828	75,766
Equity securities | Other
Summary of Investment Holdings [Line Items]
Investments owned	8,415	55,439
Exchange-traded options
Summary of Investment Holdings [Line Items]
Investments owned	2,165	7,527
Investments in limited partnership hedge funds | Long-term incentive compensation-related
Summary of Investment Holdings [Line Items]
Investments owned	30,705	25,762
Investments in limited partnership hedge funds | Seed capital
Summary of Investment Holdings [Line Items]
Investments owned	20,100	16,646
Time deposits
Summary of Investment Holdings [Line Items]
Investments owned	18,120	18,602
Other
Summary of Investment Holdings [Line Items]
Investments owned	$ 15,505	$ 19,282

Investments - (Losses) Gains Re

Investments - (Losses) Gains Related to Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Net gains (losses) recognized during the period	$ 7,719	$ 14,386	$ 12,606	$ (7,600)
Less: net gains recognized during the period on equity securities sold during the period	12,156	7,471	16,721	6,076
Unrealized (losses) gains recognized during the period on equity securities held	$ (4,437)	$ 6,915	$ (4,115)	$ (13,676)

Derivative Instruments - Notion

Derivative Instruments - Notional Value and Fair Value of Derivative Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional Value	$ 409,842	$ 489,985
Derivative Assets	16,592	21,741
Derivative Liabilities	16,914	30,537
Exchange-traded futures
Derivative [Line Items]
Notional Value	128,533	142,886
Derivative Assets	497	118
Derivative Liabilities	758	1,834
Currency forwards
Derivative [Line Items]
Notional Value	49,260	63,906
Derivative Assets	8,332	8,576
Derivative Liabilities	7,661	8,451
Interest rate swaps
Derivative [Line Items]
Notional Value	13,483	60,997
Derivative Assets	372	2,043
Derivative Liabilities	441	2,955
Credit default swaps
Derivative [Line Items]
Notional Value	121,176	167,649
Derivative Assets	7,275	10,910
Derivative Liabilities	7,180	13,304
Total return swaps
Derivative [Line Items]
Notional Value	47,390	52,061
Derivative Assets	116	94
Derivative Liabilities	762	1,847
Option swaps
Derivative [Line Items]
Notional Value	50,000	2,486
Derivative Assets	0	0
Derivative Liabilities	$ 112	$ 2,146

Derivative Instruments - Gains

Derivative Instruments - Gains and Losses for Derivative Instruments Recognized in Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative [Line Items]
Net (losses) on derivative instruments	$ (11,414)	$ (30,913)	$ (9,078)	$ (1,347)
Exchange-traded futures
Derivative [Line Items]
Net (losses) on derivative instruments	(4,882)	(5,818)	(3,747)	(4,812)
Currency forwards
Derivative [Line Items]
Net (losses) on derivative instruments	(354)	(212)	827	446
Interest rate swaps
Derivative [Line Items]
Net (losses) on derivative instruments	(111)	225	(23)	(387)
Credit default swaps
Derivative [Line Items]
Net (losses) on derivative instruments	(1,714)	(4,311)	(2,236)	7,790
Total return swaps
Derivative [Line Items]
Net (losses) on derivative instruments	(2,980)	(18,966)	(3,887)	(3,851)
Option swaps
Derivative [Line Items]
Net (losses) on derivative instruments	$ (1,373)	$ (1,831)	$ (12)	$ (533)

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Cash collateral payable to trade counterparties	$ 2,100		$ 2,100		$ 400
Cash collateral received	4,400		4,400		6,400
Gains (losses) on equity options activity	(1,700)	$ (18,500)	3,100	$ (100)
Exchange-traded options | Long
Derivative [Line Items]
Cash collateral payable to trade counterparties	0		0		0
Long exchange-traded equity options	2,200		2,200		7,500
Exchange-traded options | Short
Derivative [Line Items]
Cash collateral received	0		0		0
Short exchange-traded equity options, included in securities sold not yet purchased	$ 1,700		$ 1,700		$ 12,500

Offsetting Assets and Liabili_3

Offsetting Assets and Liabilities - Offsetting Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Securities Borrowed [Abstract]
Gross Amounts of Recognized Assets	$ 26,081	$ 7,808
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	26,081	7,808
Financial Instruments Collateral	14,712	7,344
Cash Collateral Received	0	0
Net Amount	11,369	464
Derivative Asset [Abstract]
Cash Collateral Received	(2,100)	(400)
Derivatives
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	16,592	21,741
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	16,592	21,741
Financial Instruments Collateral	0	0
Cash Collateral Received	(2,102)	(380)
Net Amount	14,490	21,361
Exchange-traded options | Long
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	2,165	7,527
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	2,165	7,527
Financial Instruments Collateral	0	0
Cash Collateral Received	0	0
Net Amount	$ 2,165	$ 7,527

Offsetting Assets and Liabili_4

Offsetting Assets and Liabilities - Offsetting Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Offsetting Liabilities [Line Items]
Cash Collateral Pledged	$ (4,400)	$ (6,400)
Derivatives
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	16,914	30,537
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	16,914	30,537
Financial Instruments Collateral	0	0
Cash Collateral Pledged	(4,379)	(6,374)
Net Amount	12,535	24,163
Exchange-traded options | Short
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	1,706	12,486
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	1,706	12,486
Financial Instruments Collateral	0	0
Cash Collateral Pledged	0	0
Net Amount	$ 1,706	$ 12,486

Fair Value - Valuation of Finan

Fair Value - Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	$ 76,266	$ 73,281
Securities sold not yet purchased:
Contingent payment arrangements	7,800		$ 4,400
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets	158,844	130,675
Securities segregated (U.S. Treasury Bills)	1,072,928	1,752,906
Derivatives	16,592	21,741
Total investments measured at fair value and other measurements	228,646	253,375
Total assets measured at fair value and other measurements	1,477,010	2,158,697
Securities sold not yet purchased:
Short equities – corporate	11,003	5,305
Short exchange-traded options	1,706	12,486
Derivatives	16,914	30,537
Contingent payment arrangements	37,184	27,750
Total liabilities measured at fair value	66,807	76,078
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money markets	158,844	130,675
Securities segregated (U.S. Treasury Bills)	0	0
Derivatives	497	118
Total investments	133,644	162,243
Total assets measured at fair value	292,985	293,036
Securities sold not yet purchased:
Short equities – corporate	11,003	5,305
Short exchange-traded options	1,706	12,486
Derivatives	758	1,834
Contingent payment arrangements	0	0
Total liabilities measured at fair value	13,467	19,625
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)	1,072,928	1,752,906
Derivatives	16,095	21,623
Total investments	18,450	17,565
Total assets measured at fair value	1,107,473	1,792,094
Securities sold not yet purchased:
Short equities – corporate	0	0
Short exchange-traded options	0	0
Derivatives	16,156	28,703
Contingent payment arrangements	0	0
Total liabilities measured at fair value	16,156	28,703
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	126	125
Total assets measured at fair value	126	125
Securities sold not yet purchased:
Short equities – corporate	0	0
Short exchange-traded options	0	0
Derivatives	0	0
Contingent payment arrangements	37,184	27,750
Total liabilities measured at fair value	37,184	27,750
Recurring | NAV Expedient
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	160	161
Total assets measured at fair value	160	161
Equity securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	142,051	165,556
Equity securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	123,315	147,705
Equity securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	18,450	17,565
Equity securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	126	125
Equity securities | Recurring | NAV Expedient
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	160	161
Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	7,341	12,271
Other investments | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments measured at fair value and other measurements	15,505	19,282
Other investments | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	8,164	7,011
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	18,120	18,602
Time deposits | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	18,120	18,602
Long | Exchange-traded options | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,165	7,527
Long | Exchange-traded options | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,165	7,527
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	50,805	42,408
Limited partnership hedge funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	$ 50,805	$ 42,408

Fair Value - Narrative (Details

Fair Value - Narrative (Details) $ in Thousands	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	$ 76,266	$ 73,281
Revenue growth rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.020		0.007
Revenue growth rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.839		0.500
Revenue growth rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.130		0.049
Discount rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.019		0.019
Discount rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.104		0.104
Discount rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.066		0.080
Software publishing company
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	$ 2,200	2,100
Start-up company
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	300	300
Equity method investee
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	2,100	6,500
Broker dealer exchange memberships
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other investments	$ 2,800	$ 3,300

Fair Value - Change in Carrying

Fair Value - Change in Carrying Value of Level 3 Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	$ 124	$ 118	$ 125	$ 119
Purchases	0	0	0	0
Sales	0	0	0	0
Realized gains (losses), net	0	0	0	0
Unrealized gains (losses), net	2	(4)	1	(5)
Balance as of end of period	$ 126	$ 114	$ 126	$ 114

Fair Value - Change in Carryi_2

Fair Value - Change in Carrying Value Associated with Contingent Payment Arrangements Level 3 Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Liabilities Measurement Level 3 reconciliation
Balance as of beginning of period	$ 36,073	$ 23,704	$ 27,750	$ 22,911
Addition	274	4,400	7,800	4,400
Accretion	837	806	1,634	1,599
Payments	0	0	0	0
Balance as of end of period	$ 37,184	$ 28,910	$ 37,184	$ 28,910

Leases - Additional Information

Leases - Additional Information (Details) ft² in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)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)	1,000
New York City
Lessee, Lease, Description [Line Items]
Area of space leased (in square feet)	166
Operating lease, lease not yet commenced, term of contract	20 years
Total base rent obligation | $	$ 393
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	15 years

Leases - Leases included in the

Leases - Leases included in the Condensed Consolidated Statement of Financial Condition (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Right-of-use assets	Right-of-use assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Lease liabilities	Lease liabilities
Operating lease right-of-use assets	$ 404,238	$ 416,007
Operating lease liabilities	$ 481,046	$ 503,174
Finance Leases
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Right-of-use assets	Right-of-use assets
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Lease liabilities	Lease liabilities
Property and equipment, gross	$ 7,329	$ 5,167
Amortization of right-of-use assets	(2,577)	(2,719)
Property and equipment, net	4,752	2,448
Finance lease liabilities	$ 4,797	$ 2,375

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 24,629	$ 22,411	$ 49,047	$ 45,415
Financing lease cost:
Amortization of right-of-use assets	479	426	980	903
Interest on lease liabilities	21	23	43	49
Total finance lease cost	500	449	1,023	952
Variable lease cost	10,344	9,833	19,890	19,310
Sublease income	(9,506)	(9,626)	(19,313)	(19,241)
Net lease cost	$ 25,967	$ 23,067	$ 50,647	$ 46,436

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
2021 (excluding the six months ended June 30, 2021)	$ 52,186
2022	102,262
2023	94,902
2024	91,698
2025	26,818
Thereafter	163,857
Total lease payments	531,723
Less interest	(50,677)
Present value of lease liabilities	481,046	$ 503,174
Financing Leases
2021 (excluding the six months ended June 30, 2021)	903
2022	1,552
2023	1,289
2024	722
2025	426
Thereafter	24
Total lease payments	4,916
Less interest	(119)
Present value of lease liabilities	4,797	$ 2,375
Total
2021 (excluding the six months ended June 30, 2021)	53,089
2022	103,814
2023	96,191
2024	92,420
2025	27,244
Thereafter	163,881
Total lease payments	$ 536,639

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Jun. 30, 2021
Weighted average remaining lease term (years):
Operating leases	7 years 5 months 1 day
Finance leases	3 years 4 months 6 days
Weighted average discount rate:
Operating leases	3.01%
Finance leases	1.71%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 57,353	$ 58,107
Operating cash flows used for financing leases	43	49
Financing cash flows used for finance leases	862	959
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	29,333	(1,223)
Finance leases	$ 3,283	$ 1,695

Consolidated Company-Sponsore_3

Consolidated Company-Sponsored Investment Funds - Summary of Balance Sheet Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Condensed Balance Sheet Statements, Captions [Line Items]
Other assets	$ 338,115	$ 264,418
Total assets	9,236,134	9,697,840
Liabilities	5,176,111	5,483,958
Redeemable non-controlling interest	17,803	102,359
Partners' capital attributable to AB Unitholders	4,042,220	4,111,523	$ 3,894,606
Total liabilities, redeemable non-controlling interest and capital	9,236,134	9,697,840
Company-sponsored investment funds
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	30,456	36,506
Investments	166,940	302,582
Other assets	8,288	12,244
Total assets	205,684	351,332
Liabilities	11,317	30,620
Redeemable non-controlling interest	17,803	102,359
Partners' capital attributable to AB Unitholders	176,564	218,353
Total liabilities, redeemable non-controlling interest and capital	205,684	351,332
VIEs
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	30,456	36,370
Investments	166,940	242,541
Other assets	8,288	4,859
Total assets	205,684	283,770
Liabilities	11,317	7,741
Redeemable non-controlling interest	17,803	82,753
Partners' capital attributable to AB Unitholders	176,564	193,276
Total liabilities, redeemable non-controlling interest and capital	205,684	283,770
VOEs
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	136
Investments	0	60,041
Other assets	0	7,385
Total assets	0	67,562
Liabilities	0	22,879
Redeemable non-controlling interest	0	19,606
Partners' capital attributable to AB Unitholders	0	25,077
Total liabilities, redeemable non-controlling interest and capital	$ 0	$ 67,562

Consolidated Company-Sponsore_4

Consolidated Company-Sponsored Investment Funds - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)fund	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Derivative [Line Items]
Gains (losses) on derivative instruments	$ (11,414,000)	$ (30,913,000)	$ (9,078,000)	$ (1,347,000)
Cash collateral payable to trade counterparties	2,100,000		2,100,000		$ 400,000
Cash collateral received	4,400,000		4,400,000		6,400,000
Advisory fee receivables	156,157,000		156,157,000		148,746,000
VIEs
Derivative [Line Items]
Futures, forwards and swaps held	2,400,000		2,400,000		3,700,000
Gains (losses) on derivative instruments	(1,800,000)	1,000,000	(700,000)	(700,000)
Cash collateral payable to trade counterparties	442,000		442,000		513,000
Cash collateral received	989,000		989,000		4,201,000
VOEs
Derivative [Line Items]
Futures, forwards and swaps held	0		0		200,000
Gains (losses) on derivative instruments	(900,000)	$ (800,000)		$ (900,000)
Cash collateral payable to trade counterparties	0		0		0
Cash collateral received	0		0		$ 138,000
Variable Interest Entity, Not Primary Beneficiary
Derivative [Line Items]
Net assets	73,300,000,000		73,300,000,000
Maximum risk of loss in investment in VIEs	8,800,000		8,800,000
Advisory fee receivables	$ 77,600,000		77,600,000
Seed capital
Derivative [Line Items]
Number of deconsolidated funds | fund	2
Seed investment, deconsolidated amount	$ 86,100,000		$ 86,100,000

Consolidated Company-Sponsore_5

Consolidated Company-Sponsored Investment Funds - Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
VIEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	$ 1,951	$ 3,224
Derivatives	4,349	6,893
VOEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets		464
Derivatives		664
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets	16,592	21,741
Derivatives	16,914	30,537
Total liabilities measured at fair value	66,807	76,078
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	133,644	162,243
Derivative Assets	497	118
Total assets measured at fair value	292,985	293,036
Derivatives	758	1,834
Total liabilities measured at fair value	13,467	19,625
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	18,450	17,565
Derivative Assets	16,095	21,623
Total assets measured at fair value	1,107,473	1,792,094
Derivatives	16,156	28,703
Total liabilities measured at fair value	16,156	28,703
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	126	125
Derivative Assets	0	0
Total assets measured at fair value	126	125
Derivatives	0	0
Total liabilities measured at fair value	37,184	27,750
Recurring | Company-sponsored investment funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	168,891	306,270
Total liabilities measured at fair value	4,349	7,557
Recurring | Company-sponsored investment funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	53,268	74,351
Total liabilities measured at fair value	2,927	1,649
Recurring | Company-sponsored investment funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	115,413	231,300
Total liabilities measured at fair value	1,422	5,908
Recurring | Company-sponsored investment funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	210	619
Total liabilities measured at fair value	0	0
Recurring | VIEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	166,940	242,541
Derivative Assets	1,951	3,224
Derivatives	4,349	6,893
Recurring | VIEs | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	53,028	73,909
Derivative Assets	240	442
Derivatives	2,927	1,649
Recurring | VIEs | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	113,702	168,114
Derivative Assets	1,711	2,782
Derivatives	1,422	5,244
Recurring | VIEs | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	210	518
Derivative Assets	0	0
Derivatives	$ 0	0
Recurring | VOEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		60,041
Derivative Assets		464
Derivatives		664
Recurring | VOEs | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		0
Derivative Assets		0
Derivatives		0
Recurring | VOEs | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		59,940
Derivative Assets		464
Derivatives		664
Recurring | VOEs | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		101
Derivative Assets		0
Derivatives		$ 0

Consolidated Company-Sponsore_6

Consolidated Company-Sponsored Investment Funds - Change in Carrying Value Associated with Level 3 Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	$ 124	$ 118	$ 125	$ 119
Purchases	0	0	0	0
Sales	0	0	0	0
Realized gains (losses), net	0	0	0	0
Unrealized gains (losses), net	2	(4)	1	(5)
Balance as of end of period	126	114	126	114
Company-sponsored investment funds
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	717	534	619	854
Deconsolidated funds	(717)	(135)	(717)	(135)
Transfers (out) in	0	340	(10)	571
Purchases	204	13	323	46
Sales	0	(82)	(3)	(444)
Realized gains (losses), net	0	(14)	3	(14)
Unrealized gains (losses), net	6	(138)	(5)	(362)
Accrued discounts	0	(1)	0	1
Balance as of end of period	$ 210	$ 517	$ 210	$ 517

Consolidated Company-Sponsore_7

Consolidated Company-Sponsored Investment Funds - Offsetting of Derivative Assets and Liabilities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Derivative Asset [Abstract]
Cash Collateral Received	$ (2,100,000)	$ (400,000)
Derivative Liability [Abstract]
Cash Collateral Pledged	(4,400,000)	(6,400,000)
VIEs
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	1,951,000	3,224,000
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	1,951,000	3,224,000
Financial Instruments Collateral	0	0
Cash Collateral Received	(442,000)	(513,000)
Net Amount	1,509,000	2,711,000
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	4,349,000	6,893,000
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	4,349,000	6,893,000
Financial Instruments Collateral	0	0
Cash Collateral Pledged	(989,000)	(4,201,000)
Net Amount	3,360,000	2,692,000
VOEs
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets		464,000
Gross Amounts Offset in the Statement of Financial Condition		0
Net Amounts of Assets Presented in the Statement of Financial Condition		464,000
Financial Instruments Collateral		0
Cash Collateral Received	0	0
Net Amount		464,000
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities		664,000
Gross Amounts Offset in the Statement of Financial Condition		0
Net Amounts of Liabilities Presented in the Statement of Financial Condition		664,000
Financial Instruments Collateral		0
Cash Collateral Pledged	$ 0	(138,000)
Net Amount		$ 526,000

Units Outstanding (Details)

Units Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Units Outstanding
Beginning balance (in units)	270,509,658
Options exercised (in units)	143,211	5,182
Units issued (in units)	3,019,529
Units retired (in units)	(1,678,276)
Ending balance (in units)	271,994,122
Limited Partners Capital Account Units
Units Outstanding
Units retired (in units)	(1,400)

Debt (Details)

Debt (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)financial_institutionline_of_credit	Dec. 31, 2020USD ($)	Sep. 01, 2020USD ($)
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
Line of Credit | Subsidiaries
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 165,000,000
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
Commercial Paper
Short-term Debt [Line Items]
Weighted average interest rates on average daily borrowings	0.20%	0.40%
Short-term debt	$ 0	$ 0
Short-term debt, average outstanding amount	110,800,000	$ 83,200,000
Uncommited Lines of Credit
Short-term Debt [Line Items]
Weighted average interest rates		1.60%
Short-term debt	0	$ 0
Short-term debt, average outstanding amount		900,000
EQH
Short-term Debt [Line Items]
Amount outstanding	$ 590,000,000	675,000,000
Weighted average interest rates	0.20%
Average daily borrowings	$ 551,200,000	$ 470,800,000
Weighted average interest rates on average daily borrowings	0.20%	0.50%
Revolving Credit Facility
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000
Revolving Credit Facility | Line of Credit
Short-term Debt [Line Items]
Amount outstanding	$ 0	$ 0
Weighted average interest rates	1.10%	1.60%
Average daily borrowings	$ 22,000,000	$ 16,500,000
Revolving Credit Facility | EQH
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900,000,000
Revolving Credit Facility | EQH Uncommitted Facility
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity			$ 300,000,000
Amount outstanding	$ 0	$ 0

Non-controlling Interests (Deta

Non-controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Redeemable non-controlling interests:
Total non-controlling interest in net income	$ 3,573	$ 20,940	$ 3,281	$ (4,631)
Redeemable non-controlling interest	17,803		17,803		$ 102,359
Company-sponsored investment funds
Redeemable non-controlling interests:
Consolidated company-sponsored investment funds	3,573	$ 20,940	3,281	$ (4,631)
Redeemable non-controlling interest	$ 17,803		$ 17,803		$ 102,359