8 unchanged sentences
For additional information concerning distribution of Available Cash Flow by AB, see Note 2 to AB’s consolidated financial statements in Item 8.
−Removed: On December 31, 2019 , the last trading day during 2019 , the closing price of an AB Holding Unit on the NYSE was $30.26 per Unit.
+Added: On December 31, 2020, the closing price of an AB Holding Unit on the NYSE was $33.77 per Unit.
On December 31, 2020, there were (i) 974 AB Holding Unitholders of record for approximately 81,000 beneficial owners, and (ii) 378 AB Unitholders of record (we do not believe there are substantial additional beneficial owners).
9 unchanged sentences
Issuer Purchases of Equity Securities
+Added: Purchased Average
Holding Unit,
+Added: Commissions Total
+Added: Programs Maximum
Dollar Value)
3 unchanged sentences
490,480 30.97 — —
+Added: 12/1/20-12/31/20 (1)(2)
+Added: 2,343,310 32.58 — —
+Added: Total 2,943,528 32.14 — —
+Added: ________________________________________________________________________________________________________________________
(1) During the fourth quarter of 2020, we purchased 2,221,913 AB Holding Units from employees to allow them to fulfill statutory withholding tax requirements at the time of distribution of long-term incentive compensation awards.
2 unchanged sentences
Issuer Purchases of Equity Securities
+Added: Period Total Number
+Added: Purchased Average
+Added: Commissions Total
Units Purchased as
+Added: Programs Maximum
Dollar Value)
3 unchanged sentences
800 32.57 — —
+Added: Total 800 $ 32.57 — —
+Added: ________________________________________________________________________________________________________________________
(1) During December 2020, we purchased 800 AB Units in a private transaction.
1 unchanged sentence
AllianceBernstein Holding L.P.
−Removed: The follow selected financial data is derived from the consolidated financial statements of AllianceBernstein Holding L.P.
+Added: The following selected financial data is derived from the consolidated financial statements of AllianceBernstein Holding L.P.
and provides summary historical financial information for the periods ended and as of the dates indicated:
Years Ended December 31,
+Added: 2020 2019 2018 2017 2016
(in thousands, except per unit amounts)
1 unchanged sentence
Equity in net income attributable to AB Unitholders $ 308,404 $ 266,292 $ 270,647 $ 232,393 $ 239,389
+Added: Income taxes 29,024 27,729 28,250 24,971 22,803
+Added: Net income $ 279,380 $ 238,563 $ 242,397 $ 207,422 $ 216,586
Basic net income per unit $ 2.88 $ 2.49 $ 2.50 $ 2.19 $ 2.24
1 unchanged sentence
Cash distributions per unit (1)
+Added: $ 2.91 $ 2.53 $ 2.68 $ 2.30 $ 1.92
Balance sheet data at period end:
+Added: Total assets $ 1,606,033 $ 1,554,264 $ 1,490,701 $ 1,544,704 $ 1,540,508
Partners’ capital $ 1,604,157 $ 1,552,538 $ 1,490,057 $ 1,543,550 $ 1,539,889
5 unchanged sentences
Years Ended December 31,
+Added: 2020 2019 2018 2017 2016
(in thousands, except per unit amounts and unless otherwise indicated)
4 unchanged sentences
Dividend and interest income 50,923 104,421 98,226 71,162 46,939
−Removed: Investment gains (losses)
+Added: Investment (losses) gains (16,401) 38,659 2,653 92,102 93,353
Other revenues 104,703 97,559 98,676 97,135 99,859
1 unchanged sentence
interest expense 15,650 57,205 52,399 25,165 9,123
+Added: Net revenues 3,708,536 3,518,432 3,367,361 3,298,521 3,028,779
Employee compensation and benefits:
Employee compensation and benefits
+Added: 1,494,198 1,442,783 1,378,811 1,313,469 1,229,721
Promotion and servicing:
10 unchanged sentences
Operating income 907,436 823,437 825,314 773,910 723,165
−Removed: Net income of consolidated entities attributable to non-controlling interests
+Added: Income taxes 45,653 41,754 45,816 53,110 28,319
+Added: Net income 861,783 781,683 779,498 720,800 694,846
+Added: Net (loss) income of consolidated entities attributable to non-controlling interests (4,169) 29,641 21,910 58,397 21,488
Net income attributable to AB Unitholders $ 865,952 $ 752,042 $ 757,588 $ 662,403 $ 673,358
2 unchanged sentences
Operating margin (1)
+Added: 24.6 % 22.6 % 23.9 % 21.7 % 23.2 %
CASH DISTRIBUTIONS PER AB UNIT (2)
+Added: $ 3.20 $ 2.82 $ 2.96 $ 2.57 $ 2.15
Years Ended December 31,
+Added: 2020 2019 2018 2017 2016
BALANCE SHEET DATA AT PERIOD END:
+Added: Total assets $ 9,697,840 $ 8,706,092 $ 8,789,098 $ 9,282,734 $ 8,741,158
+Added: Debt $ 675,000 $ 560,000 $ 546,267 $ 565,745 $ 512,970
Total capital $ 4,111,523 $ 4,017,101 $ 3,916,209 $ 4,063,304 $ 4,068,189
ASSETS UNDER MANAGEMENT AT PERIOD END (in millions) $ 685,923 $ 622,915 $ 516,353 $ 554,491 $ 480,201
−Removed: Operating income excluding net income (loss) attributable to non-controlling interests as a percentage of net revenues.
+Added: (1) Operating income excluding net (loss) income attributable to non-controlling interests as a percentage of net revenues.
(2) Cash distributions per AB Unit reflect the impact of AB's non-GAAP adjustments.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.