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Alliancebernstein L.P. (1109448) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Alliancebernstein L.P.

CIK: 1109448
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Mark Griffin, Investors
629.213.5672
mark.griffin@alliancebernstein.com
                       


Jennifer Casey, Media
212.969.1157
jennifer.casey@alliancebernstein.com
                       



ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES FIRST QUARTER RESULTS
GAAP Diluted Net Income of $0.63 per Unit
Adjusted Diluted Net Income of $0.64 per Unit
Cash Distribution of $0.64 per Unit

New York, NY, April 28, 2020 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended
March 31, 2020.
"AB’s thoughts are with those most impacted by the COVID-19 crisis, including the communities and individuals, first responders and healthcare workers whose sacrifices are for the greater good,” said Seth P. Bernstein, President and CEO of AllianceBernstein. “I am proud of AB’s employees, who have remained resilient and focused, and have responded with solutions for both our clients and our communities as we collectively address the challenges of this unprecedented time. AB’s financial condition has remained strong throughout this period, enabling us to focus on our clients’ needs.”
(US $ Thousands except per Unit amounts)
1Q 2020
 
1Q 2019
 
% Change
 
4Q 2019
 
% Change
 
 
 
 
 
 
 
 
 
 
U.S. GAAP Financial Measures
 
 
 
 
 
 
 
 
 
Net revenues
$
874,156

 
$
795,462

 
9.9
 %
 
$
987,304

 
(11.5
%)
Operating income
$
178,223

 
$
168,151

 
6.0
 %
 
$
268,283

 
(33.6
%)
Operating margin
23.3
%
 
19.9
%
 
340 bps

 
26.4
%
 
(310 bps)

AB Holding Diluted EPU
$
0.63

 
$
0.49

 
28.6
 %
 
$
0.84

 
(25.0
%)
 
 
 
 
 
 
 
 
 
 
Adjusted Financial Measures (1)
 
 
 
 
 
 
 
 
 
Net revenues
$
743,803

 
$
657,884

 
13.1
 %
 
$
817,457

 
(9.0
%)
Operating income
$
205,590

 
$
158,857

 
29.4
 %
 
$
263,974

 
(22.1
%)
Operating margin
27.6
%
 
24.1
%
 
350 bps

 
32.3
%
 
(470 bps)

AB Holding Diluted EPU
$
0.64

 
$
0.49

 
30.6
 %
 
$
0.85

 
(24.7
%)
AB Holding cash distribution per Unit
$
0.64

 
$
0.49

 
30.6
 %
 
$
0.85

 
(24.7
%)
 
 
 
 
 
 
 
 
 

(US $ Billions)
 
 
 
 
 
 
 
 
 
Assets Under Management ("AUM")
 
 
 
 
 
 
 
 
 
Ending AUM
$
541.8

 
$
554.7

 
(2.3
%)
 
$
622.9

 
(13.0
%)
Average AUM
$
602.0

 
$
539.2

 
11.6
%
 
$
606.8

 
(0.8
%)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1) The adjusted financial measures represent non-GAAP financial measures. See page 11 for reconciliations of GAAP Financial Results to Adjusted Financial Results and pages 12-13 for notes describing the adjustments.

www.alliancebernstein.com
 
1 of 13

The following information was filed by Alliancebernstein L.P. on Tuesday, April 28, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Partners' Capital
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Financial Condition
Condensed Consolidated Statements Of Financial Condition (Parenthetical)
Condensed Consolidated Statements Of Income
Business Description Organization And Basis Of Presentation
Business Description Organization And Basis Of Presentation (Details)
Business Description Organization And Basis Of Presentation (Policies)
Business Description Organization And Basis Of Presentation (Tables)
Cash And Securities Segregated Under Federal Regulations And Other Requirements
Cash And Securities Segregated Under Federal Regulations And Other Requirements (Details)
Cash Distributions
Cash Distributions (Details)
Commitments And Contingencies
Consolidated Company-Sponsored Investment Funds
Consolidated Company-Sponsored Investment Funds (Details)
Consolidated Company-Sponsored Investment Funds (Tables)
Consolidated Company-Sponsored Investment Funds - Change In Carrying Value Associated With Level 3 Financial Instruments (Details)
Consolidated Company-Sponsored Investment Funds - Fair Value (Details)
Consolidated Company-Sponsored Investment Funds - Offsetting Of Derivative Assets And Liabilities (Details)
Consolidated Company-Sponsored Investment Funds - Summary Of Balance Sheet Amounts (Details)
Debt
Debt (Details)
Derivative Instruments
Derivative Instruments (Details)
Derivative Instruments (Tables)
Derivative Instruments - Gains And Losses For Derivative Instruments Recognized In Investment Gains (Losses) (Details)
Derivative Instruments - Notional Value And Fair Value Of Derivative Instruments (Details)
Fair Value
Fair Value (Details)
Fair Value (Tables)
Fair Value - Change In Carrying Value Associated With Contingent Payment Arrangements Level 3 Instruments (Details)
Fair Value - Change In Carrying Value Of Level 3 Financial Instruments (Details)
Fair Value - Valuation Of Financial Instruments (Details)
Investments
Investments (Tables)
Investments - Gains (Losses) Related To Equity Securities (Details)
Investments - Summary Of Investments (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Components Of Lease Expense (Details)
Leases - Lease Term And Discount Rate (Details)
Leases - Leases Included In The Condensed Consolidated Statement Of Financial Condition (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Supplemental Cash Flow (Details)
Long-Term Incentive Compensation Plans
Long-Term Incentive Compensation Plans (Details)
Long-Term Incentive Compensation Plans (Tables)
Long-Term Incentive Compensation Plans - Unit Purchase Activity (Details)
Net Income Per Unit
Net Income Per Unit (Details)
Net Income Per Unit (Tables)
Non-Controlling Interests
Non-Controlling Interests (Details)
Non-Controlling Interests (Tables)
Offsetting Assets And Liabilities
Offsetting Assets And Liabilities (Tables)
Offsetting Assets And Liabilities - Offsetting Assets (Details)
Offsetting Assets And Liabilities - Offsetting Liabilities (Details)
Related Party Master Repurchase Agreement
Related Party Master Repurchase Agreement (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details)
Units Outstanding
Units Outstanding (Details)
Units Outstanding (Tables)

Material Contracts, Statements, Certifications & more

Alliancebernstein L.P. provided additional information to their SEC Filing as exhibits

CIK: 1109448
Form Type: 10-Q Quarterly Report
Accession Number: 0001109448-20-000050
Submitted to the SEC: Thu Jul 23 2020 6:45:50 AM EST
Accepted by the SEC: Thu Jul 23 2020
Period: Tuesday, June 30, 2020
Industry: Investment Advice

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