Alliancebernstein Holding L.P. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Alliancebernstein Holding L.P. has filed its Q1 2024 10-Q report.</b>

AI Summary

ALLIANCEBERNSTEIN HOLDING L.P. (AB) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Alliancebernstein Holding L.P. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. The filing was made on April 25, 2024. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking ALLIANCEBERNSTEIN HOLDING L.P., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Alliancebernstein Holding L.P. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the investment management sector.

Risk Assessment

Risk Level: low — ALLIANCEBERNSTEIN HOLDING L.P. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or unusual disclosures that would suggest high risk.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance drivers and any emerging trends.

Key Numbers

• 2024-03-31 — Period of Report (Conformed Period of Report)
• 2024-04-25 — Filing Date (Filed As Of Date)
• 12/31 — Fiscal Year End (Fiscal Year End)
• 2024 — Reporting Year (Reporting Year)
• Q1 — Reporting Quarter (Reporting Quarter)
• 0000825313 — Central Index Key (Central Index Key)
• 6282 — Standard Industrial Classification (Standard Industrial Classification Code)
• 133434400 — IRS Number (IRS Number)

Key Players & Entities

• ALLIANCEBERNSTEIN HOLDING L.P. (company) — Filer
• AB (company) — Ticker Symbol
• 2024-03-31 (date) — Period of Report
• 2024-04-25 (date) — Filing Date
• DE (jurisdiction) — State of Incorporation
• 6156220000 (phone_number) — Business Phone
• 501 COMMERCE STREET (address) — Business Address
• NASHVILLE (city) — Business Address City

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-25: Filing Date — Date the 10-Q report was officially filed with the SEC.

Key Financial Figures

• $9.8 m — e months ended March 31, 2024 increased $9.8 million, compared to the three months end

Filing Documents

• ab-20240331.htm (10-Q) — 460KB
• ab-20240331xex311.htm (EX-31.1) — 10KB
• ab-20240331xex312.htm (EX-31.2) — 11KB
• ab-20240331xex321.htm (EX-32.1) — 6KB
• ab-20240331xex322.htm (EX-32.2) — 5KB
• ablp_20240331xex991.htm (EX-99.1) — 1452KB
• 0000825313-24-000037.txt (&nbsp;) — 4148KB
• ab-20240331.xsd (EX-101.SCH) — 21KB
• ab-20240331_cal.xml (EX-101.CAL) — 28KB
• ab-20240331_def.xml (EX-101.DEF) — 43KB
• ab-20240331_lab.xml (EX-101.LAB) — 299KB
• ab-20240331_pre.xml (EX-101.PRE) — 191KB
• ab-20240331_htm.xml (XML) — 244KB

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Statements of Financial Condition 1 Condensed Statements of Income 2 Condensed Statements of Comprehensive Income 3 Condensed Statements of Changes in Partners' Capital 4 Condensed Statements of Cash Flows 5 Notes to Condensed Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 12

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 14

Controls and Procedures

Item 4. Controls and Procedures 15 Part II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 16

Risk Factors

Item 1A. Risk Factors 16

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 17

Other Information

Item 5. Other Information 17

Exhibits

Item 6. Exhibits 18 SIGNATURE 19 Index Part I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Financial Condition (in thousands, except unit amounts) (unaudited) March 31, 2024 December 31, 2023 ASSETS Investment in AB $ 2,068,751 $ 2,077,540 Other assets 10 — Total assets $ 2,068,761 $ 2,077,540 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Other liabilities $ 389 $ 1,295 Total liabilities 389 1,295 Commitments and contingencies ( See Note 8 ) Partners' capital: General Partner: 100,000 general partnership units issued and outstanding 1,317 1,327 Limited partners: 115,063,604 and 114,336,091 limited partnership units issued and outstanding 2,151,296 2,147,147 AB Holding Units held by AB to fund long-term incentive compensation plans ( 38,038 ) ( 30,185 ) Accumulated other comprehensive loss ( 46,203 ) ( 42,044 ) Total partners' capital 2,068,372 2,076,245 Total liabilities and partners' capital $ 2,068,761 $ 2,077,540 See Accompanying Notes to Condensed Financial Statements. 1 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Income (in thousands, except per unit amounts) (unaudited) Three Months Ended March 31, 2024 2023 Equity in net income attributable to AB Unitholders $ 86,281 $ 76,382 Income taxes 9,059 8,945 Net income $ 77,222 $ 67,437 Net income per unit: Basic $ 0.67 $ 0.59 Diluted $ 0.67 $ 0.59 See Accompanying Notes to Condensed Financial Statements. 2 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Comprehensive Income (in thousands) (unaudited) Three Months Ended March 31, 2024 2023 Net income $ 77,222 $ 67,437 Other comprehensive (loss) income: Foreign currency translation adjustment, before tax ( 4,198 ) 2,469 Income tax benefit 33 22 Foreign currency translation adjustments, net of tax ( 4,165 ) 2,491 Changes in employee benefit related items: Amortization of prior service cost 1 3 Recognized actuarial gain 6 143 Changes in employee benefit related items

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations AB Holding's principal source of income and cash flow is attributable to its investment in AB Units. AB Holding's interim condensed financial statements and notes and management's discussion and analysis of financial condition and results of operations ("MD&A") should be read in conjunction with those of AB included as an exhibit to this Form 10-Q. They also should be read in conjunction with AB's audited financial statements and notes and MD&A included in AB Holding's Form 10-K for the year ended December 31, 2023. Results of Operations Three Months Ended March 31, 2024 2023 % Change (in thousands, except per unit amounts) Net income attributable to AB Unitholders $ 217,927 $ 194,151 12.2 % Weighted average equity ownership interest 39.6 % 39.3 % Equity in net income attributable to AB Unitholders 86,281 76,382 13.0 Income taxes 9,059 8,945 1.3 Net income of AB Holding $ 77,222 $ 67,437 14.5 Diluted net income per AB Holding Unit $ 0.67 $ 0.59 13.6 Distribution per AB Holding Unit (1) $ 0.73 $ 0.66 10.6 % ________________________ (1) Distributions reflect the impact of AB's non-GAAP adjustments. AB Holding's net income for the three months ended March 31, 2024 increased $9.8 million, compared to the three months ended March 31, 2023, primarily due to higher net income attributable to AB Unitholders. AB Holding's partnership gross income is derived from its interest in AB. AB Holding's income taxes, which reflect a 3.5% federal tax on its partnership gross income from the active conduct of a trade or business, are computed by multiplying certain AB qualifying revenues by AB Holding's ownership interest in AB, multiplied by the 3.5% tax rate. Certain AB qualifying revenues are primarily U.S. investment advisory fees, research payments and brokerage commissions. AB Holding's effective tax rate was 10.5% during the three months ended March 31, 2024, com

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View this 10-Q filing on SEC EDGAR