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Net Income Per Unit | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Net Income Per Unit | Net Income Per Unit Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each year. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income - diluted”) and dividing by the diluted weighted average number of units outstanding for each year.
| Years Ended December 31
| 2024 | 2023 | 2022
| (in thousands, except per unit amounts)
Net income - basic |  | $ | 423,374 |  |  | $ | 264,184 |  |  | $ | 274,165 |
Additional allocation of equity in net income attributable to AB resulting from assumed dilutive effect of compensatory options |  | — |  |  | — |  |  | 2 |
Net income - diluted |  | $ | 423,374 |  |  | $ | 264,184 |  |  | $ | 274,167 |
Weighted average units outstanding - basic |  | 114,125 |  |  | 112,948 |  |  | 101,763 |
Dilutive effect of compensatory options |  | — |  |  | — |  |  | 1 |
Weighted average units outstanding - diluted |  | 114,125 |  |  | 112,948 |  |  | 101,764 |
Basic net income per unit |  | $ | 3.71 |  |  | $ | 2.34 |  |  | $ | 2.69 |
Diluted net income per unit |  | $ | 3.71 |  |  | $ | 2.34 |  |  | $ | 2.69 |
There were no anti-dilutive options excluded from diluted net income in the years ended December 31, 2024, 2023 or 2022.

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