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Business Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Management has assessed the requirements of ASC 280, Segment Reporting, and determined that, because we utilize a consolidated approach to assess performance and allocate resources, we have only one operating segment. We provide diversified investment management, research and related services globally to a broad range of clients through our three distribution channels: Institutions, Retail and Private Wealth Management.

The Chief Operating Decision Maker ("CODM") is the Chief Executive Officer of AB. The CODM evaluates the reported measure of segment profit or loss in assessing segment performance and deciding how to allocate resources. Significant segment expenses are part of the CODM review and are critically important to understand the level of profitability and overall performance of the Company. This assessment will determine the way in which the CODM allocates resources to our respective business operations.

Measurement of Segment Profit or Loss and How the CODM Uses the Reported Measure

The CODM regularly receives financial information and management reports that are prepared on a consolidated basis. When assessing profitability, allocating resources and evaluating the underlying performance of our business, the CODM uses condensed consolidated net income as reported on the condensed consolidated statements of income. In applying the requirements under ASC 280, the Company has identified significant segment expenses and other segment items related to our one operating segment. The significant expenses considered by the CODM in evaluating the performance of our business are consistent with the financial information included on the Company's condensed consolidated statements of income. The
measurement of assets as evaluated by the CODM is reported as "Total assets" on the condensed consolidated statements of financial condition. As an additional measure of segment profit or loss, the CODM considers certain adjustments to condensed consolidated net income. While management uses these additional adjusted metrics in assessing and allocating resources to the business, management recognizes that US GAAP principles are the basis of our performance.

Enterprise-wide disclosures as of and for the three and nine months ended September 30, 2026 and 2025 were as follows:

Services
Net revenues derived from our investment management, research and related services for the three and nine months ended September 30, 2026 and 2025 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in thousands)
Institutions(1)
$266,336 $161,090 $668,579 $496,113 
Retail(1)
605,547 631,769 1,836,468 1,834,917 
Private Wealth Management(1)
338,022 313,191 978,696 909,416 
Other29,000 46,300 153,409 114,597 
Total revenues1,238,905 1,152,350 3,637,152 3,355,043 
Less: Broker-dealer related Interest expense13,340 15,203 38,857 48,382 
Net revenues$1,225,565 $1,137,147 $3,598,295 $3,306,661 
(1) Institutions, Retail and Private Wealth management revenues by channel include investment advisory base fees, performance-based fees, distribution revenues and shareholder servicing fees by channel.

Our AllianceBernstein U.S. Growth Stock, an open-end fund incorporated in Japan, generated approximately 10% of our net revenues for the three and nine months ended September 30, 2026. U.S. Growth Stock generated approximately 13% and 12% of our net revenues for the three and nine months ended September 30, 2025, respectively.

Geographic Information
Net revenues related to our U.S. and international operations, for the three and nine months ended September 30, 2026 and 2025, were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in thousands)
Net revenues:
United States$693,853 $662,818 $2,087,083 $1,929,406 
International:
         Luxembourg261,775 268,907 804,948 788,140 
         Japan129,266 152,549 398,297 434,553 
Other International140,671 52,873 307,967 154,562 
     Total International531,712 474,329 1,511,212 1,377,255 
Total $1,225,565 $1,137,147 $3,598,295 $3,306,661 
Long-lived assets related to our U.S. and international operations, as of September 30, 2026 and December 31, 2025, were as follows:
September 30, 2026December 31, 2025
(in thousands)
Long-lived assets:
United States$4,057,506 $4,126,410 
International50,249 51,926 
Total$4,107,755 $4,178,336 

Major Customers

No single customer or individual client accounted for more than 10% of our total revenues for the three and nine months ended September 30, 2026 and 2025.