AllianceBernstein Holding (AB) 10-Q 28 Apr 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2020shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-09818
Entity Registrant Name	ALLIANCEBERNSTEIN HOLDING L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3434400
Entity Address, Address Line One	1345 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	212
Local Phone Number	969-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Units Rep. Assignments of Beneficial Ownership of LP Interests in AB Holding ("Units")
Trading Symbol	AB
Security Exchange Name	NYSE
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	97,793,215
Entity Central Index Key	0000825313
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Statements of Financi

Condensed Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Investment in AB	$ 1,517,198	$ 1,554,203
Other assets	61	61
Total assets	1,517,259	1,554,264
Liabilities:
Other liabilities	825	1,726
Total liabilities	825	1,726
Commitments and contingencies (See Note 8)
Partners’ capital:
General Partner: 100,000 general partnership units issued and outstanding	1,380	1,402
Limited partners: 97,693,215 and 98,092,098 limited partnership units issued and outstanding	1,592,161	1,619,200
AB Holding Units held by AB to fund long-term incentive compensation plans	(29,002)	(27,436)
Accumulated other comprehensive loss	(48,105)	(40,628)
Total partners’ capital	1,516,434	1,552,538
Total liabilities and partners’ capital	$ 1,517,259	$ 1,554,264

Condensed Statements of Finan_2

Condensed Statements of Financial Condition (Parenthetical) - shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
General Partner: units issued (in units)	100,000	100,000
General Partner: units outstanding (in units)	100,000	100,000
Limited partners: units issued (in units)	97,693,215	98,092,098
Limited partners: units outstanding (in units)	97,693,215	98,092,098

Condensed Statements of Income

Condensed Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Equity in net income attributable to AB Unitholders	$ 69,914	$ 52,638
Income taxes	7,655	6,199
Net income	$ 62,259	$ 46,439
Net income per unit:
Basic (in dollars per unit)	$ 0.63	$ 0.49
Diluted (in dollars per unit)	$ 0.63	$ 0.49

Condensed Statements of Compreh

Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 62,259	$ 46,439
Other comprehensive income:
Foreign currency translation adjustments, before tax	(7,627)	1,152
Income tax benefit (expense)	6	(2)
Foreign currency translation adjustments, net of tax	(7,621)	1,150
Changes in employee benefit related items:
Amortization of prior service cost	3	5
Recognized actuarial gain	169	286
Changes in employee benefit related items	172	291
Income tax (expense) benefit	(28)	2
Employee benefit related items, net of tax	144	293
Other	0	0
Other comprehensive (loss) income	(7,477)	1,443
Comprehensive income	$ 54,782	$ 47,882

Condensed Statement of Changes

Condensed Statement of Changes in Partners' Capital - USD ($) $ in Thousands	Total	AB Holding Units held by AB to fund long-term incentive compensation plans	Accumulated Other Comprehensive (Loss) Income	General Partner	Limited Partner
Balance, beginning of period at Dec. 31, 2018		$ (27,759)	$ (39,461)	$ 1,385	$ 1,555,892
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 46,439			48	46,391
Cash distributions to Unitholders				(63)	(60,744)
Retirement of AB Holding Units					(69,653)
Issuance of AB Holding Units to fund long-term incentive compensation plan awards					11,313
Exercise of compensatory options to buy AB Holding Units					7,382
Change in AB Holding Units held by AB to fund long-term incentive compensation plans		3,295
Foreign currency translation adjustment, net of tax			1,150
Changes in employee benefit related items, net of tax			293
Balance, end of period at Mar. 31, 2019	1,429,469	(24,464)	(38,018)	1,370	1,490,581
Balance, beginning of period at Dec. 31, 2019	1,552,538	(27,436)	(40,628)	1,402	1,619,200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	62,259			62	62,197
Cash distributions to Unitholders				(84)	(83,621)
Retirement of AB Holding Units					(14,220)
Issuance of AB Holding Units to fund long-term incentive compensation plan awards	8,458				8,458
Exercise of compensatory options to buy AB Holding Units					147
Change in AB Holding Units held by AB to fund long-term incentive compensation plans		(1,566)
Foreign currency translation adjustment, net of tax			(7,621)
Changes in employee benefit related items, net of tax			144
Balance, end of period at Mar. 31, 2020	$ 1,516,434	$ (29,002)	$ (48,105)	$ 1,380	$ 1,592,161

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 62,259	$ 46,439
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income attributable to AB Unitholders	(69,914)	(52,638)
Cash distributions received from AB	91,562	67,485
Changes in assets and liabilities:
(Increase) in other assets	0	(821)
(Decrease) in other liabilities	(901)	(589)
Net cash provided by operating activities	83,006	59,876
Cash flows from investing activities:
Investments in AB with proceeds from exercise of compensatory options to buy AB Holding Units	(147)	(7,382)
Net cash used in investing activities	(147)	(7,382)
Cash flows from financing activities:
Cash distributions to Unitholders	(83,705)	(60,807)
Capital contributions from (to) AB	699	931
Proceeds from exercise of compensatory options to buy AB Holding Units	147	7,382
Net cash used in financing activities	(82,859)	(52,494)
Change in cash and cash equivalents	0	0
Cash and cash equivalents as of beginning of period	0	0
Cash and cash equivalents as of end of period	$ 0	$ 0

Business Description, Organizat

Business Description, Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description, Organization and Basis of Presentation	Business Description, Organization and Basis of Presentation Business Description AB Holding’s principal source of income and cash flow is attributable to its investment in AB limited partnership interests. The condensed financial statements and notes of AB Holding should be read in conjunction with the condensed consolidated financial statements and notes of AB included as an exhibit to this quarterly report on Form 10-Q and with AB Holding’s and AB’s audited financial statements included in AB Holding’s Form 10-K for the year ended December 31, 2019 . AB provides research, diversified investment management and related services globally to a broad range of clients. Its principal services include: • Institutional Services – servicing its institutional clients, including private and public pension plans, foundations and endowments, insurance companies, central banks and governments worldwide, and affiliates such as Equitable Holdings, Inc. ("EQH") and its respective subsidiaries, by means of separately-managed accounts, sub-advisory relationships, structured products, collective investment trusts, mutual funds, hedge funds and other investment vehicles. • Retail Services – servicing its 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 its 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. AB also provides distribution, shareholder servicing, transfer agency services and administrative services to the mutual funds it sponsors. AB’s high-quality, in-depth research is the foundation of its business. AB’s research disciplines include economic, fundamental equity, fixed income and quantitative research. In addition, AB has experts focused on multi-asset strategies, wealth management and alternative investments. AB provides a broad range of investment services with expertise in: • Actively-managed equity strategies, with global and regional portfolios across capitalization ranges, concentration ranges and investment strategies, including value, growth and core equities; • Actively-managed traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; • Passive management, including index and enhanced index strategies; • Alternative investments, including hedge funds, fund of funds, direct lending and private equity; and • Multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds. AB’s services span various investment disciplines, including market capitalization ( e.g. , large-, mid- and small-cap equities), term ( e.g. , long-, intermediate- and short-duration debt securities), and geographic location ( e.g. , U.S., international, global, emerging markets, regional and local), in major markets around the world. Organization During the second quarter of 2018, AXA S.A. ("AXA") completed the sale of a minority stake in EQH through an initial public offering ("IPO"). Since then, AXA has completed additional offerings and taken other steps, most recently during the fourth quarter of 2019. As a result, AXA owned less than 10% of the outstanding common stock of EQH as of March 31, 2020 . As of March 31, 2020 , EQH owned approximately 4.1% of the issued and outstanding units representing assignments of beneficial ownership of limited partnership interests in AB Holding (“AB Holding Units”). AllianceBernstein Corporation (an indirect wholly-owned subsidiary of EQH, “General Partner”) is the general partner of both AB Holding and AB. AllianceBernstein Corporation owns 100,000 general partnership units in AB Holding and a 1% general partnership interest in AB. As of March 31, 2020 , the ownership structure of AB, expressed as a percentage of general and limited partnership interests, was as follows: EQH and its subsidiaries 63.4 % AB Holding 35.9 Unaffiliated holders 0.7 100.0 % Including both the general partnership and limited partnership interests in AB Holding and AB, EQH and its subsidiaries had an approximate 64.9% economic interest in AB as of March 31, 2020 . Basis of Presentation The interim condensed 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 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 financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed statement of financial condition as of December 31, 2019 was derived from audited financial statements, but it does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). AB Holding records its investment in AB using the equity method of accounting. AB Holding’s investment is increased to reflect its proportionate share of income of AB and decreased to reflect its proportionate share of losses of AB and cash distributions made by AB to its Unitholders. In addition, AB Holding's investment is adjusted to reflect its proportionate share of certain capital transactions of AB.

Cash Distributions

Cash Distributions	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Cash Distributions	Cash Distributions AB Holding is required to distribute all of its Available Cash Flow, as defined in the Amended and Restated Agreement of Limited Partnership of AB Holding (“AB Holding Partnership Agreement”), to its Unitholders pro rata in accordance with their percentage interests in AB Holding. Available Cash Flow is defined as the cash distributions AB Holding receives from AB minus such amounts as the General Partner determines, in its sole discretion, should be retained by AB Holding for use in its business (such as the payment of taxes) or plus such amounts as the General Partner determines, in its sole discretion, should be released from previously retained cash flow. On April 28, 2020 , the General Partner declared a distribution of $0.64 per unit, representing a distribution of Available Cash Flow for the three months ended March 31, 2020 . Each general partnership unit in AB Holding is entitled to receive distributions equal to those received by each AB Holding Unit. The distribution is payable on May 28, 2020 to holders of record at the close of business on May 11, 2020

Long-term Incentive Compensatio

Long-term Incentive Compensation Plans	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Long-term Incentive Compensation Plans	Long-term Incentive Compensation Plans AB maintains several unfunded, non-qualified long-term incentive compensation plans, under which the company grants awards of restricted AB Holding Units to its employees and members of the Board of Directors, who are not employed by AB or by any of AB’s affiliates (“Eligible Directors”). AB funds its 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 AB Holding Partnership Agreement, when AB purchases newly-issued AB Holding Units from AB Holding, AB Holding is required to use the proceeds it receives from AB to purchase the equivalent number of newly-issued AB Units, thus increasing its percentage ownership interest in AB. AB Holding Units held in the consolidated rabbi trust are corporate assets in the name of the trust and are available to the general creditors of AB. Repurchases of AB Holding Units for the three months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended 2020 2019 (in millions) Total amount of AB Holding Units Purchased (1) 0.9 2.0 Total Cash Paid for AB Holding Units Purchased (1) $ 19.8 $ 58.6 Open Market Purchases of AB Holding Units Purchased (2) 0.8 1.9 Total Cash Paid for Open Market Purchases of AB Holding Units (2) $ 17.3 $ 55.2 (1) Purchased on a trade date basis. (2) The remainder related to purchases of AB Holding Units from employees to all them to fulfill statutory tax withholding requirements at the time of delivery of long-term incentive compensation awards. Each quarter, AB considers 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 selected by AB has the authority under the terms and limitations specified in the plan to repurchase AB Holding Units on AB’s behalf in accordance with the terms and limitations specified in the plan. Repurchases are subject to regulations promulgated by the U.S. Securities and Exchange Commission ("SEC") as well as certain price, market volume and timing constraints specified in the plan. The plan adopted during the first quarter of 2020 expired at the close of business on April 27, 2020. AB may adopt additional plans in the future to engage in open-market purchases of AB Holding Units to help fund anticipated obligations under its incentive compensation award program and for other corporate purposes. During the first three months of both 2020 and 2019 , AB granted to employees and Eligible Directors 0.1 million restricted AB Holding Unit awards. AB used AB Holding Units repurchased during the applicable period and newly-issued AB Holding Units to fund these restricted AB Holding Unit awards. During the first three months of 2020 and 2019 , AB Holding issued 5,182 and 0.3 million AB Holding Units, respectively, upon exercise of options to buy AB Holding Units. AB Holding used the proceeds of $0.1 million and $7.4 million , respectively, received from award recipients as payment in cash for the exercise price to purchase the equivalent number of newly-issued AB Units.

Net Income per Unit

Net Income per Unit	3 Months Ended
	Mar. 31, 2020
Earnings Per Unit [Abstract]
Net Income per Unit	Net Income per Unit Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income – diluted”) and dividing by the diluted weighted average number of units outstanding for each period. Three Months Ended 2020 2019 (in thousands, except per unit amounts) Net income – basic $ 62,259 $ 46,439 Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options 15 26 Net income – diluted $ 62,274 $ 46,465 Weighted average units outstanding – basic 98,309 95,144 Dilutive effect of compensatory options 32 72 Weighted average units outstanding – diluted 98,341 95,216 Basic net income per unit $ 0.63 $ 0.49 Diluted net income per unit $ 0.63 $ 0.49 Three Months Ended 2020 2019 (amounts as shown) Anti-dilutive options excluded from diluted net income 29,056 29,056

Investment in AB

Investment in AB	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investment in AB	Investment in AB Changes in AB Holding’s investment in AB during the three -month period ended March 31, 2020 are as follows (in thousands): Investment in AB as of December 31, 2019 $ 1,554,203 Equity in net income attributable to AB Unitholders 69,914 Changes in accumulated other comprehensive (loss) income (7,477 ) Cash distributions received from AB (91,562 ) Additional investments with proceeds from exercise of compensatory options to buy AB Holding Units 147 Capital contributions (from) to AB (699 ) AB Holding Units retired (14,220 ) AB Holding Units issued to fund long-term incentive compensation plans 8,458 Change in AB Holding Units held by AB for long-term incentive compensation plans (1,566 ) Investment in AB as of March 31, 2020 $ 1,517,198

Units Outstanding

Units Outstanding	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Units Outstanding	Units Outstanding Changes in AB Holding Units outstanding during the three -month period ended March 31, 2020 are as follows: Outstanding as of December 31, 2019 98,192,098 Options exercised 5,182 Units issued 344,698 Units retired (748,763 ) Outstanding as of March 31, 2020 97,793,215

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes AB Holding is a “grandfathered” publicly-traded partnership (“PTP”) for federal tax purposes and, accordingly, is not subject to federal or state corporate income taxes. However, AB Holding is subject to the 4.0% New York City unincorporated business tax (“UBT”), net of credits for UBT paid by AB, and to a 3.5% federal tax on partnership gross income from the active conduct of a trade or business. AB Holding’s partnership gross income is derived from its interest in AB. AB Holding’s federal income tax is computed by multiplying certain AB qualifying revenues (primarily U.S. investment advisory fees, research payments and brokerage commissions) by AB Holding’s ownership interest in AB, multiplied by the 3.5% tax rate. AB Holding Units in AB’s consolidated rabbi trust are not considered outstanding for purposes of calculating AB Holding’s ownership interest in AB. Three Months Ended 2020 2019 % Change (in thousands) Net income attributable to AB Unitholders $ 194,320 $ 149,114 30.3 % Multiplied by: weighted average equity ownership interest 36.0 % 35.3 % Equity in net income attributable to AB Unitholders $ 69,914 $ 52,638 32.8 AB qualifying revenues $ 702,340 $ 586,550 19.7 Multiplied by: weighted average equity ownership interest for calculating tax 30.6 % 29.6 % Multiplied by: federal tax 3.5 % 3.5 % Federal income taxes 7,515 6,081 State income taxes 140 118 Total income taxes $ 7,655 $ 6,199 23.5 Effective tax rate 10.9 % 11.8 % In order to preserve AB Holding’s status as a “grandfathered” PTP for federal income tax purposes, management ensures that AB Holding does not directly or indirectly (through AB) engage in a substantial new line of business. If AB Holding were to lose its status as a “grandfathered” PTP, it would be subject to corporate income tax, which would reduce materially AB Holding’s net income and its quarterly distributions to AB Holding Unitholders.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal and regulatory matters described below pertain to AB and are included here due to their potential significance to AB Holding's investment in AB. With respect to all significant litigation matters, we consider the likelihood of a negative outcome. If we determine the likelihood of a negative outcome is probable and the amount of the loss can be reasonably estimated, we record an estimated loss for the expected outcome of the litigation. If the likelihood of a negative outcome is reasonably possible and we are able to determine an estimate of the possible loss or range of loss in excess of amounts already accrued, if any, we disclose that fact together with the estimate of the possible loss or range of loss. However, it is often difficult to predict the outcome or estimate a possible loss or range of loss because litigation is subject to inherent uncertainties, particularly when plaintiffs allege substantial or indeterminate damages. Such is also the case when the litigation is in its early stages or when the litigation is highly complex or broad in scope. In these cases, we disclose that we are unable to predict the outcome or estimate a possible loss or range of loss. AB may be involved in various matters, including regulatory inquiries, administrative proceedings and litigation, some of which may allege significant damages. It is reasonably possible that AB could incur losses pertaining to these matters, but management cannot currently estimate any such losses. Management, after consultation with legal counsel, currently believes that the outcome of any individual matter that is pending or threatened, or all of them combined, will not have a material adverse effect on our results of operations, financial condition or liquidity. However, any inquiry, proceeding or litigation has the element of uncertainty; management cannot determine whether further developments relating to any individual matter that is pending or threatened, or all of them combined, will have a material adverse effect on our results of operations, financial condition or liquidity in any future reporting period.

Business Description, Organiz_2

Business Description, Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Ownership Structure of AllianceBernstein	As of March 31, 2020 , the ownership structure of AB, expressed as a percentage of general and limited partnership interests, was as follows: EQH and its subsidiaries 63.4 % AB Holding 35.9 Unaffiliated holders 0.7 100.0 %

Long-term Incentive Compensat_2

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

Net Income per Unit (Tables)

Net Income per Unit (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Unit [Abstract]
Schedule of Earnings Per Unit, Basic and Diluted	Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income – diluted”) and dividing by the diluted weighted average number of units outstanding for each period. Three Months Ended 2020 2019 (in thousands, except per unit amounts) Net income – basic $ 62,259 $ 46,439 Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options 15 26 Net income – diluted $ 62,274 $ 46,465 Weighted average units outstanding – basic 98,309 95,144 Dilutive effect of compensatory options 32 72 Weighted average units outstanding – diluted 98,341 95,216 Basic net income per unit $ 0.63 $ 0.49 Diluted net income per unit $ 0.63 $ 0.49 Three Months Ended 2020 2019 (amounts as shown) Anti-dilutive options excluded from diluted net income 29,056 29,056

Investment in AB (Tables)

Investment in AB (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Summary of Changes in Investment in AB	Changes in AB Holding’s investment in AB during the three -month period ended March 31, 2020 are as follows (in thousands): Investment in AB as of December 31, 2019 $ 1,554,203 Equity in net income attributable to AB Unitholders 69,914 Changes in accumulated other comprehensive (loss) income (7,477 ) Cash distributions received from AB (91,562 ) Additional investments with proceeds from exercise of compensatory options to buy AB Holding Units 147 Capital contributions (from) to AB (699 ) AB Holding Units retired (14,220 ) AB Holding Units issued to fund long-term incentive compensation plans 8,458 Change in AB Holding Units held by AB for long-term incentive compensation plans (1,566 ) Investment in AB as of March 31, 2020 $ 1,517,198

Units Outstanding (Tables)

Units Outstanding (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Changes in Holding Units Outstanding	Changes in AB Holding Units outstanding during the three -month period ended March 31, 2020 are as follows: Outstanding as of December 31, 2019 98,192,098 Options exercised 5,182 Units issued 344,698 Units retired (748,763 ) Outstanding as of March 31, 2020 97,793,215

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Computation of Effective Income Tax Rate and Changes in Components of Income Tax	Three Months Ended 2020 2019 % Change (in thousands) Net income attributable to AB Unitholders $ 194,320 $ 149,114 30.3 % Multiplied by: weighted average equity ownership interest 36.0 % 35.3 % Equity in net income attributable to AB Unitholders $ 69,914 $ 52,638 32.8 AB qualifying revenues $ 702,340 $ 586,550 19.7 Multiplied by: weighted average equity ownership interest for calculating tax 30.6 % 29.6 % Multiplied by: federal tax 3.5 % 3.5 % Federal income taxes 7,515 6,081 State income taxes 140 118 Total income taxes $ 7,655 $ 6,199 23.5 Effective tax rate 10.9 % 11.8 %

Business Description, Organiz_3

Business Description, Organization and Basis of Presentation (Details) - shares	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Ownership structure of AB Holding
Units outstanding (in units)	100,000	100,000
EQH | AXA
Ownership structure of AB Holding
General partnership interest (percent)	10.00%
AB Holding | EQH
Ownership structure of AB Holding
General partnership interest (percent)	4.10%
AB Holding | AllianceBernstein Corporation
Ownership structure of AB Holding
General partnership interest (percent)	1.00%
Units outstanding (in units)	100,000
Limited partners or members ownership interest in Company (percent)	35.90%
EQH and its subsidiaries | AllianceBernstein Corporation
Ownership structure of AB Holding
Limited partners or members ownership interest in Company (percent)	63.40%
Unaffiliated holders | AllianceBernstein Corporation
Ownership structure of AB Holding
Limited partners or members ownership interest in Company (percent)	0.70%
AB | AllianceBernstein Corporation
Ownership structure of AB Holding
Limited partners or members ownership interest in Company (percent)	100.00%
AB | EQH and its subsidiaries
Ownership structure of AB Holding
General partnership interest (percent)	64.90%

Cash Distributions (Details)

Cash Distributions (Details) - Cash Distribution - $ / shares	Apr. 28, 2020	Mar. 31, 2020
Distribution Made to Limited Partner [Line Items]
Declaration date		Apr. 28, 2020
Distribution date		May 28, 2020
Record date		May 11, 2020
Subsequent Event
Distribution Made to Limited Partner [Line Items]
Cash distribution declared (in dollars per unit)	$ 0.64

Long-term Incentive Compensat_3

Long-term Incentive Compensation Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Holding units purchased in period (in units)	900,000	2,000,000
Dollar amount paid for holding units acquired	$ 19,800	$ 58,600
Open-market purchases of holding units (in units)	800,000	1,900,000
Dollar amount paid for open-market purchases of holding units	$ 17,300	$ 55,200
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units issued upon options exercised (in units)	5,182	300,000
Proceeds from stock options exercised	$ 147	$ 7,382
Employees and Eligible Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted AB Holding Unit awards granted to employees and Eligible Directors (in units)	100,000	100,000

Net Income per Unit (Details)

Net Income per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Unit [Abstract]
Net income – basic	$ 62,259	$ 46,439
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options	15	26
Net income – diluted	$ 62,274	$ 46,465
Weighted average units outstanding – basic (in units)	98,309,000	95,144,000
Dilutive effect of compensatory options (in units)	32,000	72,000
Weighted average units outstanding – diluted (in units)	98,341,000	95,216,000
Basic net income per unit (in dollars per unit)	$ 0.63	$ 0.49
Diluted net income per unit (in dollars per unit)	$ 0.63	$ 0.49
Anti-dilutive units excluded from diluted net income computation (in units)	29,056	29,056

Investment in AB (Details)

Investment in AB (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Change in Equity Method Investment [Roll Forward]
Investment in AB as of December 31, 2019	$ 1,554,203
Equity in net income attributable to AB Unitholders	69,914	$ 52,638
Changes in accumulated other comprehensive (loss) income	(7,477)	1,443
Cash distributions received from AB	(91,562)	(67,485)
Additional investments with proceeds from exercise of compensatory options to buy AB Holding Units	147	7,382
Capital contributions (from) to AB	(699)	$ (931)
AB Holding Units retired	(14,220)
AB Holding Units issued to fund long-term incentive compensation plans	8,458
Change in AB Holding Units held by AB for long-term incentive compensation plans	(1,566)
Investment in AB as of March 31, 2020	$ 1,517,198

Units Outstanding (Details)

Units Outstanding (Details)	3 Months Ended
	Mar. 31, 2020shares
Units Outstanding
Outstanding as of December 31, 2019 (in units)	98,192,098
Options exercised (in units)	5,182
Units issued (in units)	344,698
Units retired (in units)	(748,763)
Outstanding as of March 31, 2020 (in units)	97,793,215

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
New York City unincorporated business tax (percent)	4.00%
Federal tax rate on partnership gross income (percent)	3.50%
Computation of equity in net income attributable to AllianceBernstein Unitholders [Abstract]
Net income attributable to AB Unitholders	$ 194,320	$ 149,114
Multiplied by: weighted average equity ownership interest (percent)	36.00%	35.30%
Equity in net income attributable to AB Unitholders	$ 69,914	$ 52,638
Computation of income tax [Abstract]
AB qualifying revenues	$ 702,340	$ 586,550
Multiplied by: weighted average equity ownership interest for calculating tax (percent)	30.60%	29.60%
Multiplied by: federal tax (percent)	3.50%	3.50%
Federal income taxes	$ 7,515	$ 6,081
State income taxes	140	118
Total income taxes	$ 7,655	$ 6,199
Effective tax rate (percent)	10.90%	11.80%
Changes in components for calculation of income tax [Abstract]
Change in net income attributable to AllianceBernstein Unitholders (percent)	30.30%
Change in equity in net income attributable to AllianceBernstein Unitholders (percent)	32.80%
Change in AllianceBernstein qualifying revenues (percent)	19.70%
Change in income taxes (percent)	23.50%