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Cover Page - USD ($) $ in Billions | 12 Months Ended | |
---|---|---|
Dec. 31, 2020 | Jun. 30, 2020 | |
Document Type | 10-K | |
Document Annual Report | true | |
Document Period End Date | Dec. 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 | |
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 Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
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 | |
Entity Shell Company | false | |
Entity Public Float | $ 2.5 | |
Entity Common Stock, Shares Outstanding | 98,322,942 | |
Documents Incorporated by Reference | This Form 10-K does not incorporate any document by reference. | |
Entity Central Index Key | 0000825313 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false | |
ICFR Auditor Attestation Flag | true | |
General Partner’s Capital | ||
Entity Common Stock, Shares Outstanding | 100,000 |
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Alliancebernstein Holding L.P..
Alliancebernstein Holding L.P.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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Such changes in circumstances may include, but are not limited to, a sustained decrease in the price of an AB Unit or declines in AB's market capitalization that would suggest that the fair value of the reporting unit is less than the carrying amount; significant and unanticipated declines in AB's assets under management or revenues; and/or lower than expected earnings per unit.
Despite the challenges faced from the COVID-19 pandemic (please refer to "Impact of COVID-19" above and "Risk Factors" in), we benefited from certain of our adjusted operating expenses declining significantly, such as costs associated with travel and entertainment and client meetings during 2020.
These clients compensate us principally by directing us to execute brokerage transactions on their behalf, for which we earn commissions, and to a lesser extent, but increasingly, by paying us directly for research through commission sharing agreements or cash payments.
As supplemental information, AB provides the performance measures "adjusted net revenues," "adjusted operating income" and "adjusted operating margin," which are the principal metrics management uses in evaluating and comparing the period-to-period operating performance of AB.
Dividend and interest income decreased $53.5 million, or 51.2%, in 2020, primarily due to lower interest earned on customer margin balances and U.S. Treasury Bills, as well as lower dividend and interest income in our consolidated company-sponsored investment funds.
The change is primarily due...Read more
These assumptions include: the amount...Read more
The economic impact of COVID-19...Read more
The increase primarily resulted from...Read more
Though we have stated that...Read more
Our adjusted operating margin, which...Read more
The carrying value of goodwill...Read more
Management anticipates that Available Cash...Read more
In future periods, management anticipates...Read more
Adjusted employee compensation and benefits...Read more
Adjusted income taxes, used in...Read more
Management believes it is useful...Read more
Our estimates for both the...Read more
Absolute investment composite returns, gross...Read more
Our operating income increased $84.0...Read more
The $11.7 billion increase in...Read more
Investment Gains (Losses) Investment gains...Read more
The expense of $1.9 million...Read more
The possibility that we will...Read more
Adjusted Operating Margin Adjusted operating...Read more
AB Holding had net income...Read more
Available Cash Flow typically is...Read more
If that occurs, we would...Read more
Adjusted Operating Margin Target We...Read more
Over this same period, we...Read more
Our European clients may continue...Read more
Our investment advisory and services...Read more
Contingent Payment Arrangements Contingent payment...Read more
Our total assets under management...Read more
The actual total charges we...Read more
It is important to remember...Read more
The forward-looking statements referred to...Read more
Income tax expense decreased $4.1...Read more
Adjusted operating income for the...Read more
We believe that our business...Read more
The increase primarily was due...Read more
Senior management, with the approval...Read more
In 2020, we had $4.2...Read more
Our AUM and, therefore, our...Read more
Bernstein Research Services revenue increased...Read more
Although the distribution of multiple...Read more
Aggregate Contractual Obligations Our contractual...Read more
During 2014, as general partner...Read more
Our operating expenses of $2.8...Read more
Revenues from Bernstein Research Services...Read more
MiFID II In Europe, MiFID...Read more
Although we have presented our...Read more
Our average basis points realized...Read more
Accordingly, fee income generally increases...Read more
Net long-term inflows (outflows) for...Read more
Any of these changes in...Read more
Beginning in 2025, once the...Read more
We do not currently anticipate...Read more
We expect to make contributions...Read more
As various states and countries...Read more
Average daily borrowings for both...Read more
Our financial condition and ability...Read more
The increase primarily was due...Read more
The credit of $0.5 million...Read more
The credit of $2.2 million...Read more
Promotion and servicing expenses increased...Read more
Promotion and servicing expenses increased...Read more
A plan of this type...Read more
Further, while many businesses have...Read more
Available Cash Flow typically is...Read more
Other revenues decreased $1.1 million,...Read more
Gross sales increased $13.8 billion,...Read more
Gross sales increased $3.6 billion,...Read more
Gross sales increased $3.0 billion,...Read more
Ultimately, the return to normal...Read more
Market conditions deteriorated dramatically during...Read more
Other revenues increased $7.1 million,...Read more
We also instituted a notification...Read more
Income tax expense increased $3.9...Read more
Adjusted Operating Income Adjusted operating...Read more
These costs include employee relocation,...Read more
Our cash flows from operating...Read more
Adjusted operating income for the...Read more
Average daily borrowings for both...Read more
The increase primarily was due...Read more
These measures and possible additional...Read more
Additionally, as most of our...Read more
Investment gains (losses) are as...Read more
The decrease in our effective...Read more
Market Environment Despite 2020 being...Read more
Interest expense increased 25.8% in...Read more
These non-GAAP measures are provided...Read more
These non-GAAP measures are provided...Read more
Fluctuations in our revenues and/or...Read more
The decrease primarily resulted from...Read more
AB Assets Under Management Assets...Read more
Our 2020 net revenues of...Read more
The compensation expense associated with...Read more
The decrease was due to...Read more
The change reflects higher redemptions...Read more
Our ability to access public...Read more
The increase was due to...Read more
The increase was due to...Read more
Further, adjusted diluted net income...Read more
Additionally, these competitive and client...Read more
Distribution revenues increased $74.7 million,...Read more
Fair valuation methods include: discounted...Read more
The decrease in base fees...Read more
We currently anticipate an EPU...Read more
Senior management, with the approval...Read more
While we cannot at this...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Alliancebernstein Holding L.P. provided additional information to their SEC Filing as exhibits
Ticker: AB
CIK: 825313
Form Type: 10-K Annual Report
Accession Number: 0000825313-21-000006
Submitted to the SEC: Thu Feb 11 2021 6:35:08 AM EST
Accepted by the SEC: Thu Feb 11 2021
Period: Thursday, December 31, 2020
Industry: Investment Advice