ALLIANCEBERNSTEIN HOLDING LP
For the period ended Sep 30, 2024. Filed Oct 24, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 24, 2024
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-07-26.
0000825313-24-000060
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-10-24.
0000825313-24-000075
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 34 previous paragraphs and 34 current paragraphs.
29 unchanged; 5 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (5)
Previous wording
AB Holding's net income for the three and six months ended June 30, 2024 increased $53.0 million and $62.8 million, respectively, as compared to the corresponding periods in 2023 primarily due to higher net income attributable to AB Unitholders.
Current wording
AB Holding's net income for the three and nine months ended September 30, 2024 increased $70.2 million and $133.0 million, respectively, as compared to the corresponding periods in 2023 primarily due to higher net income attributable to AB Unitholders.
Previous wording
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 7.5% during the three months ended June 30, 2024, compared to 12.4% during the three months ended June 30, 2023. AB Holding's effective tax rate was 8.7% during the six months ended June 30, 2024, compared to 12.0% during the six months ended June 30, 2023. See Note 7 to the condensed financial statements in Item 1 for the calculation of income tax expense.
Current wording
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 6.7% during the three months ended September 30, 2024, compared to 13.3% during the three months ended September 30, 2023. AB Holding's effective tax rate was 7.9% during the nine months ended September 30, 2024, compared to 12.4% during the nine months ended September 30, 2023. See Note 7 to the condensed financial statements in Item 1 for the calculation of income tax expense.
Previous wording
During the six months ended June 30, 2024, net cash provided by operating activities was $172.0 million, compared to $152.3 million during the corresponding 2023 period. The increase primarily resulted from higher distributions received from AB of $19.6 million.
Current wording
During the nine months ended September 30, 2024, net cash provided by operating activities was $253.0 million, compared to $221.2 million during the corresponding 2023 period. The increase primarily resulted from higher distributions received from AB of $32.6 million.
Previous wording
During the six months ended June 30, 2024, net cash used in financing activities was $172.0 million, compared to $152.3 million during the corresponding 2023 period. The increase was primarily due to higher cash distributions to Unitholders of $18.4 million.
Current wording
During the nine months ended September 30, 2024, net cash used in financing activities was $253.0 million, compared to $221.2 million during the corresponding 2023 period. The increase was primarily due to higher cash distributions to Unitholders of $30.2 million.
Previous wording
1 Includes all AB non-GAAP adjustments to pre-tax income.
Current wording
1 Includes all AB non-GAAP adjustments to pre-tax income which includes the gain on divestiture.