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Investment in AllianceBernstein
 12 Months Ended
Dec. 31, 2013
Investment in AllianceBernstein [Abstract]  
Investment in AllianceBernstein
4. Investment in AllianceBernstein

Changes in Holding’s investment in AllianceBernstein for the years ended December 31, 2013 and 2012 were as follows:

 
 
2013
  
2012
 
 
 
(in thousands)
 
 
 
  
 
Investment in AllianceBernstein as of January 1,
 
$
1,560,536
  
$
1,627,912
 
Equity in net income attributable to AllianceBernstein Unitholders
  
185,912
   
70,807
 
Changes in accumulated other comprehensive income (loss)
  
5,667
   
(3,756
)
Cash distributions received from AllianceBernstein
  
(166,324
)
  
(120,950
)
Additional investments in AllianceBernstein from cash distributions paid to AllianceBernstein consolidated rabbi trust
  
14,076
   
11,595
 
Additional investments with proceeds from exercises of compensatory options to buy Holding Units, net
  
15,138
   
—
 
Reclassification of payable to AllianceBernstein
  
(9,226
)
  
—
 
Capital contributions from AllianceBernstein
  
(1,566
)
  
—
 
AllianceBernstein Holding Units retired
  
(287,303
)
  
—
 
AllianceBernstein Holding Units issued to fund long-term incentive compensation plans
  
84,531
   
—
 
Change in Holding Units held by AllianceBernstein for long-term incentive compensation plans
  
132,213
   
(25,072
)
Investment in AllianceBernstein as of December 31,
 
$
1,533,654
  
$
1,560,536
 
 
As of June 30, 2013, Holding had a due to AllianceBernstein balance of $9.2 million. During the second quarter of 2013, management determined that the liability should be settled only upon liquidation of Holding. As a result of this determination, and due to the affiliated nature of Holding and AllianceBernstein, this liability has been included as a reduction in Holding’s investment in AllianceBernstein in the statement of financial condition as of December 31, 2013.