Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 24, 2022 | Jul. 29, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 24, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | JONES FINANCIAL COMPANIES LLLP | |
Entity Central Index Key | 0000815917 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Limited Partnership Interests Outstanding | 1,218,590 | |
Entity File Number | 0-16633 | |
Entity Tax Identification Number | 43-1450818 | |
Entity Address, Address Line One | 12555 Manchester Road | |
Entity Address, City or Town | Des Peres | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 63131 | |
City Area Code | 314 | |
Local Phone Number | 515-2000 | |
Entity Incorporation, State or Country Code | MO | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Millions | Jun. 24, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS: | |||
Cash and cash equivalents | $ 1,258 | $ 1,835 | |
Cash and investments segregated under federal regulations | 20,711 | 20,179 | |
Securities purchased under agreements to resell | 1,087 | 1,529 | |
Receivables from: | |||
Clients | 4,479 | 4,187 | |
Mutual funds, insurance companies and other | 939 | 850 | |
Brokers, dealers and clearing organizations | 327 | 213 | |
Securities owned, at fair value: | |||
Investment securities | 743 | 852 | |
Inventory securities | 42 | 38 | |
Lease right-of-use assets | 914 | 922 | |
Fixed assets, at cost, net of accumulated depreciation and amortization | 781 | 725 | |
Other assets | 890 | 878 | |
TOTAL ASSETS | 32,171 | 32,208 | |
Payables to: | |||
Clients | 24,830 | 23,763 | |
Brokers, dealers and clearing organizations | 97 | 112 | |
Accrued compensation and employee benefits | 1,670 | 2,401 | |
Accounts payable, accrued expenses and other | 944 | 1,223 | |
Lease liabilities | 949 | 954 | |
Total liabilities before partnership capital | 28,490 | 28,453 | |
Contingencies (Note 7) | |||
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans | 3,481 | 3,235 | |
Reserve for anticipated withdrawals | (200) | (520) | (514) |
Total partnership capital subject to mandatory redemption | 3,681 | 3,755 | $ 3,589 |
TOTAL LIABILITIES | 32,171 | 32,208 | |
Limited Partnership Capital [Member] | |||
Payables to: | |||
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans | 1,221 | 1,225 | |
Subordinated Limited Partnership Capital [Member] | |||
Payables to: | |||
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans | 615 | 581 | |
General Partnership Capital [Member] | |||
Payables to: | |||
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans | $ 1,645 | $ 1,429 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | |
Revenue: | ||||
Revenue | $ 3,008 | $ 2,993 | $ 6,072 | $ 5,814 |
Interest and dividends | 76 | 40 | 120 | 78 |
Other (loss) revenue, net | (46) | 24 | (98) | 42 |
Total revenue | 3,038 | 3,057 | 6,094 | 5,934 |
Interest expense | 24 | 23 | 47 | 47 |
Net revenue | 3,014 | 3,034 | 6,047 | 5,887 |
Operating expenses: | ||||
Compensation and benefits | 2,086 | 2,148 | 4,234 | 4,187 |
Occupancy and equipment | 144 | 135 | 287 | 269 |
Communications and data processing | 159 | 115 | 305 | 219 |
Fund sub-adviser fees | 63 | 59 | 126 | 115 |
Professional and consulting fees | 44 | 34 | 84 | 65 |
Other operating expenses | 163 | 100 | 295 | 209 |
Total operating expenses | 2,659 | 2,591 | 5,331 | 5,064 |
Income before allocations to partners | 355 | 443 | 716 | 823 |
Allocations to partners: | ||||
Limited partners | 42 | 58 | 85 | 107 |
Subordinated limited partners | 41 | 52 | 84 | 98 |
General partners | 272 | 333 | 547 | 618 |
Net Income (Loss) Attributable to Parent, Total | $ 0 | $ 0 | $ 0 | $ 0 |
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding | $ 34.31 | $ 46.66 | $ 69.22 | $ 86.74 |
Weighted average $1,000 equivalent limited partnership units outstanding | 1,221,821 | 1,231,702 | 1,224,068 | 1,234,095 |
Total Fee Revenue [Member] | ||||
Revenue: | ||||
Revenue | $ 2,616 | $ 2,556 | $ 5,291 | $ 4,935 |
Asset-based Fee Revenue [Member] | ||||
Revenue: | ||||
Revenue | 2,444 | 2,385 | 4,947 | 4,594 |
Account and Activity Fee Revenue [Member] | ||||
Revenue: | ||||
Revenue | 172 | 171 | 344 | 341 |
Trade Revenue [Member] | ||||
Revenue: | ||||
Revenue | $ 392 | $ 437 | $ 781 | $ 879 |
Consolidated Statements of In_2
Consolidated Statements of Income (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 24, 2022 | Jun. 25, 2021 | |
Income Statement [Abstract] | ||
Limited partnership interest value | $ 1,000 | $ 1,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption (Unaudited) - USD ($) $ in Millions | Total | Limited Partnership Capital [Member] | Subordinated Limited Partnership Capital [Member] | General Partnership Capital [Member] |
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2020 | $ 3,589 | $ 1,362 | $ 594 | $ 1,633 |
Reserve for anticipated withdrawals at Dec. 31, 2020 | (514) | (125) | (56) | (333) |
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2020 | 3,075 | 1,237 | 538 | 1,300 |
Partnership loans outstanding at beginning of year at Dec. 31, 2020 | 341 | 0 | 1 | 340 |
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2020 | 3,416 | 1,237 | 539 | 1,640 |
Issuance of partnership interests | 274 | 3 | 60 | 211 |
Redemption of partnership interests | (71) | (5) | (16) | (50) |
Income allocated to partners | 380 | 49 | 46 | 285 |
Distributions | (3) | 0 | 0 | (3) |
Total partnership capital, including capital financed with partnership loans at Mar. 26, 2021 | 3,996 | 1,284 | 629 | 2,083 |
Issuance of partnership interests | 11 | 2 | 0 | 9 |
Redemption of partnership interests | (13) | (5) | 0 | (8) |
Income allocated to partners | 443 | 58 | 52 | 333 |
Distributions | (489) | (10) | (82) | (397) |
Total partnership capital, including capital financed with partnership loans at Jun. 25, 2021 | 3,948 | 1,329 | 599 | 2,020 |
Partnership loans outstanding at end of period at Jun. 25, 2021 | 395 | 0 | 0 | 395 |
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Jun. 25, 2021 | 3,553 | 1,329 | 599 | 1,625 |
Reserve for anticipated withdrawals at Jun. 25, 2021 | (246) | (97) | (16) | (133) |
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Jun. 25, 2021 | 3,307 | 1,232 | 583 | 1,492 |
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2021 | 3,755 | 1,361 | 640 | 1,754 |
Reserve for anticipated withdrawals at Dec. 31, 2021 | (520) | (136) | (59) | (325) |
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2021 | 3,235 | 1,225 | 581 | 1,429 |
Partnership loans outstanding at beginning of year at Dec. 31, 2021 | 321 | 0 | 0 | 321 |
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2021 | 3,556 | 1,225 | 581 | 1,750 |
Issuance of partnership interests | 320 | 4 | 52 | 264 |
Redemption of partnership interests | (60) | (5) | (17) | (38) |
Income allocated to partners | 361 | 43 | 43 | 275 |
Distributions | (13) | (1) | 0 | (12) |
Total partnership capital, including capital financed with partnership loans at Mar. 25, 2022 | 4,164 | 1,266 | 659 | 2,239 |
Issuance of partnership interests | 8 | 0 | 0 | 8 |
Redemption of partnership interests | (19) | (3) | (1) | (15) |
Income allocated to partners | 355 | 42 | 41 | 272 |
Distributions | (427) | (9) | (71) | (347) |
Total partnership capital, including capital financed with partnership loans at Jun. 24, 2022 | 4,081 | 1,296 | 628 | 2,157 |
Partnership loans outstanding at end of period at Jun. 24, 2022 | 400 | 0 | 0 | 400 |
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Jun. 24, 2022 | 3,681 | 1,296 | 628 | 1,757 |
Reserve for anticipated withdrawals at Jun. 24, 2022 | (200) | (75) | (13) | (112) |
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Jun. 24, 2022 | $ 3,481 | $ 1,221 | $ 615 | $ 1,645 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 24, 2022 | Jun. 25, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 0 | $ 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Income before allocations to partners | 716 | 823 |
Depreciation and amortization | 240 | 220 |
Changes in assets and liabilities: | ||
Investments segregated under federal regulations | (612) | 43 |
Securities purchased under agreements to resell | 442 | 629 |
Net payable to clients | 775 | (582) |
Net receivable from brokers, dealers and clearing organizations | (129) | (53) |
Receivable from mutual funds, insurance companies and other | (89) | (33) |
Securities owned | 105 | 537 |
Other assets | (12) | (81) |
Lease liabilities | (161) | (160) |
Accrued compensation and employee benefits | (731) | (278) |
Accounts payable, accrued expenses and other | (283) | (20) |
Net cash provided by operating activities | 261 | 1,045 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of equipment, property and improvements | (128) | (79) |
Cash used in investing activities | (128) | (79) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayment of partnership loans | 45 | 27 |
Issuance of partnership interests | 56 | 65 |
Redemption of partnership interests | (79) | (84) |
Distributions from partnership capital | (812) | (867) |
Net cash used in financing activities | (790) | (859) |
Net (decrease) increase in cash, cash equivalents and restricted cash | (657) | 107 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 7,706 | 6,875 |
End of period | $ 7,049 | $ 6,982 |
Introduction and Basis of Prese
Introduction and Basis of Presentation | 6 Months Ended |
Jun. 24, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Introduction and Basis of Presentation | NOTE 1 – INTRODUCTION AND BASIS OF PRESENTATION The accompanying Consolidated Financial Statements include the accounts of The Jones Financial Companies, L.L.L.P. and all wholly-owned subsidiaries (collectively, the “Partnership” or "JFC"). The financial position of the Partnership’s subsidiaries in Canada as of May 31, 2022 and November 30, 2021 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three- and six-month periods ended May 31, 2022 and 2021 are included in the Partnership’s Consolidated Statements of Income, Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption, and Consolidated Statements of Cash Flows because of the timing of the Partnership’s financial reporting process. The Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), is a registered broker-dealer and investment adviser in the United States (“U.S.”), and one of Edward Jones’ subsidiaries, Edward Jones (an Ontario limited partnership) ("EJ Canada"), is a registered broker-dealer in Canada. Through these entities, the Partnership primarily serves individual investors in the U.S. and Canada. Edward Jones is a retail brokerage business and primarily derives revenues from fees for providing investment advisory and other account services to its clients, fees for assets held by clients and commissions for the distribution of mutual fund shares and insurance products and the purchase or sale of securities. The Partnership conducts business throughout the U.S. and Canada with its clients, various brokers, dealers, clearing organizations, depositories and banks. For financial information related to the Partnership’s two operating segments for the three- and six-month periods ended June 24, 2022 and June 25, 2021, see Note 8 to the Consolidated Financial Statements. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“Trust Co.”), a wholly-owned subsidiary of the Partnership. Olive Street Investment Advisers, LLC, a wholly-owned subsidiary of the Partnership, provides investment advisory services to the eleven sub-advised mutual funds comprising the Bridge Builder® Trust. Passport Research, Ltd., a wholly-owned subsidiary of Edward Jones, provides investment advisory services to the sub-advised Edward Jones Money Market Fund (the "Money Market Fund"). The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles, which require the use of certain estimates by management in determining the Partnership’s assets, liabilities, revenues and expenses. Actual results could differ from these estimates. Certain prior period balances have been adjusted to align to current year presentation. The interim financial information included herein is unaudited. However, in the opinion of management, such information includes all adjustments, consisting primarily of normal recurring accruals, which are necessary for a fair statement of the results of interim operations. The Partnership evaluated subsequent events for recognition or disclosure through August 5, 2022, which was the date these Consolidated Financial Statements were available to be issued, and identified no matters requiring disclosure. There have been no material changes to the Partnership’s significant accounting policies or disclosures of recently issued accounting standards as described in Part II, Item 8 – Financial Statements and Supplementary Data – Note 1 of the Partnership's Annual Report on Form 10-K for the year ended December 31, 2021 (the "Annual Report"). The results of operations for the three- and six- month periods ended June 24, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022. These unaudited Consolidated Financial Statements should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and notes thereto included in the Annual Report. |
Leases
Leases | 6 Months Ended |
Jun. 24, 2022 | |
Leases [Abstract] | |
Leases | NOTE 2 – LEASES For the three- and six-month periods ended June 24, 2022 and June 25, 2021, cash paid for amounts included in the measurement of operating lease liabilities was $ 81 and $ 161 and $ 82 and $ 160 , respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $ 81 and $ 156 and $ 80 and $ 155 , respectively. The weighted-average remaining lease term was four years as of both June 24, 2022 and December 31, 2021 , and the weighted-average discount rate was 2.2 % and 2.1 %, respectively. The following table summarizes the Partnership's operating lease cost, variable lease cost not included in the lease liability and total lease cost for the: Three Months Ended Six Months Ended June 24, 2022 June 25, 2021 June 24, 2022 June 25, 2021 Operating lease cost $ 81 $ 80 $ 163 $ 158 Variable lease cost 17 15 32 29 Total lease cost $ 98 $ 95 $ 195 $ 187 The Partnership's future undiscounted cash outflows for operating leases are summarized below as of: June 24, 2022 2022 $ 159 2023 279 2024 215 2025 154 2026 97 Thereafter 89 Total lease payments 993 Less: Interest 44 Total present value of lease liabilities $ 949 While the rights and obligations for leases that have not yet commenced are not significant, the Partnership regularly enters into new branch office leases. |
Receivables and Revenue
Receivables and Revenue | 6 Months Ended |
Jun. 24, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Receivables and Revenue | NOTE 3 – RECEIVABLES AND REVENUE As of June 24, 2022 and December 31, 2021, collateral held for receivables from clients was $ 5,294 and $ 4,803 , respectively, and collateral held for securities purchased under agreements to rese ll was $ 1,103 and $ 1,526 , respectively. Given the nature of the agreements, the Partnership does not expect the fair value of collateral to fall below the value of the agreements frequently or for an extended period of time. Therefore, the expected credit loss was zero for each period. Additionally, partnership loan values remained below the value of capital allocated to partners, resulting in an expected credit loss of zero as of June 24, 2022 and December 31, 2021. As of June 24, 2022, December 31, 2021 and December 31, 2020, $ 625 , $ 695 and $ 563 , respectively, of the receivable from clients balance and $ 330 , $ 335 and $ 285 , respectively, of the receivable from mutual funds, insurance companies and other balance related to revenue contracts with customers. The related fees are paid out of client accounts or third-party products consisting of cash and securities, and the collateral value of those accounts continues to exceed the amortized cost basis of these receivables, resulting in a remote risk of loss. The expected credit loss for receivables from contracts with customers was zero as of June 24, 2022 and December 31, 2021. The Partnership derived 12 % of its total revenue for both the three- and six-month periods ended June 24, 2022 and 11 % and 12 % of its total revenue for the three- and six-month periods ended June 25, 2021, respectively, from one mutual fund company. The revenue generated from this company relates to business conducted with the Partnership’s U.S. segment. The following table s hows the Partnership's disaggregated revenue information. See Note 8 for segment information. Three Months Ended June 24, 2022 Three Months Ended June 25, 2021 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 1,804 $ 37 $ 1,841 $ 1,782 $ 31 $ 1,813 Service fees 354 28 382 388 29 417 Other asset-based fees 221 — 221 155 — 155 Total asset-based fee revenue 2,379 65 2,444 2,325 60 2,385 Account and activity fee revenue: Shareholder accounting services 113 — 113 109 — 109 Other account and activity fee 55 4 59 59 3 62 Total account and activity fee 168 4 172 168 3 171 Total fee revenue 2,547 69 2,616 2,493 63 2,556 Trade revenue: Commissions 338 14 352 412 14 426 Principal transactions 39 1 40 10 1 11 Total trade revenue 377 15 392 422 15 437 Total revenue from customers 2,924 84 3,008 2,915 78 2,993 Net interest and dividends and other ( 3 ) 9 6 39 2 41 Net revenue $ 2,921 $ 93 $ 3,014 $ 2,954 $ 80 $ 3,034 Six Months Ended June 24, 2022 Six Months Ended June 25, 2021 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 3,694 $ 74 $ 3,768 $ 3,422 $ 58 $ 3,480 Service fees 733 57 790 754 54 808 Other asset-based fees 389 — 389 306 — 306 Total asset-based fee revenue 4,816 131 4,947 4,482 112 4,594 Account and activity fee revenue: Shareholder accounting services 224 — 224 216 — 216 Other account and activity fee 113 7 120 118 7 125 Total account and activity fee 337 7 344 334 7 341 Total fee revenue 5,153 138 5,291 4,816 119 4,935 Trade revenue: Commissions 704 26 730 831 28 859 Principal transactions 49 2 51 19 1 20 Total trade revenue 753 28 781 850 29 879 Total revenue from customers 5,906 166 6,072 5,666 148 5,814 Net interest and dividends and other ( 41 ) 16 ( 25 ) 67 6 73 Net revenue $ 5,865 $ 182 $ 6,047 $ 5,733 $ 154 $ 5,887 |
Fair Value
Fair Value | 6 Months Ended |
Jun. 24, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 4 – FAIR VALUE The Partnership's valuation methodologies for financial assets and financial liabilities measured at fair value and the fair value hierarchy are described in Part II, Item 8 – Financial Statements and Supplementary Data – Note 1 of the Partnership's Annual Report. There have been no material changes to the Partnership's valuation methodologies since December 31, 2021. The Partnership records fractional shares at fair value in other assets with associated liabilities in accounts payable, accrued expenses and other in the Consolidated Statements of Financial Condition. The liabilities are initially recorded at the dollar amount received from the clients, but the Partnership makes an election to record the liabilities at fair value. Changes in the fair value of the assets and liabilities offset in other revenue in the Consolidated Statements of Income, with no impact on income before allocations to partners. The Partnership did no t have any assets or liabilities categorized as Level III during the six- and twelve-month periods ended June 24, 2022 and December 31, 2021, respectively. The following tables show the Partnership’s financial assets and liabilities measured at fair value as of: June 24, 2022 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 384 $ — $ 384 Money market funds 27 — — 27 Total cash equivalents $ 27 $ 384 $ — $ 411 Investments segregated under federal regulations: U.S. treasuries $ 14,520 $ — $ — $ 14,520 Certificates of deposit — 400 — 400 Total investments segregated under federal regulations $ 14,520 $ 400 $ — $ 14,920 Securities owned: Investment securities: Government and agency obligations $ 412 $ — $ — $ 412 Mutual funds (1) 319 — — 319 Equities 12 — — 12 Total investment securities $ 743 $ — $ — $ 743 Inventory securities: Municipal obligations $ — $ 18 $ — $ 18 Mutual funds 10 — — 10 Equities 8 — — 8 Corporate bonds and notes — 5 — 5 Certificates of deposit — 1 — 1 Total inventory securities $ 18 $ 24 $ — $ 42 Other assets: Client fractional share ownership assets $ 630 $ — $ — $ 630 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 630 $ — $ — $ 630 December 31, 2021 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 266 $ — $ 266 Money market funds 47 — — 47 Total cash equivalents $ 47 $ 266 $ — $ 313 Investments segregated under federal regulations: U.S. treasuries $ 13,908 $ — $ — $ 13,908 Certificates of deposit — 400 — 400 Total investments segregated under federal regulations $ 13,908 $ 400 $ — $ 14,308 Securities owned: Investment securities: Government and agency obligations $ 413 $ — $ — $ 413 Mutual funds (1) 366 — — 366 Equities 3 — — 3 Certificates of deposit — 70 — 70 Total investment securities $ 782 $ 70 $ — $ 852 Inventory securities: Equities $ 18 $ — $ — $ 18 Municipal obligations — 9 — 9 Certificates of deposit — 6 — 6 Corporate bonds and notes — 3 — 3 Mutual funds 2 — — 2 Total inventory securities $ 20 $ 18 $ — $ 38 Other assets: Client fractional share ownership assets $ 710 $ — $ — $ 710 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 710 $ — $ — $ 710 (1) The mutual funds balance consists primarily of securities held to economically hedge future liabilities for the non-qualified deferred compensation plan. The balance also includes a security held for regulatory purposes at the Trust Co. |
Net Capital Requirements
Net Capital Requirements | 6 Months Ended |
Jun. 24, 2022 | |
Broker-Dealer [Abstract] | |
Net Capital Requirements | NOTE 6 – NET CAPITAL REQUIREMENTS As a result of its activities as a U.S. broker-dealer, Edward Jones is subject to the net capital provisions of Rule 15c3-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and capital compliance rules of the Financial Industry Regulatory Authority ("FINRA"). Under the alternative method permitted by the rules, Edward Jones must maintain minimum net capital equal to the greater of $ 0.25 or 2 % of aggregate debit items arising from client transactions. The net capital rules also provide that Edward Jones’ partnership capital may not be withdrawn if resulting net capital would be less than minimum requirements. Additionally, certain withdrawals require the approval of the SEC and FINRA to the extent they exceed defined levels, even though such withdrawals would not cause net capital to be less than minimum requirements. EJ Canada is a registered broker-dealer regulated by the Investment Industry Regulatory Organization of Canada (“IIROC”). Under the regulations prescribed by IIROC, EJ Canada is required to maintain minimum levels of risk-adjusted capital, which are dependent on the nature of EJ Canada's assets and operations. The following table shows the Partnership’s capital figures for its U.S. and Canada broker-dealers as of: June 24, 2022 December 31, 2021 U.S.: Net capital $ 1,383 $ 1,421 Net capital in excess of the minimum required $ 1,307 $ 1,352 Net capital as a percentage of aggregate debit 36.5 % 41.3 % Net capital after anticipated capital withdrawals, 18.5 % 20.7 % Canada: Regulatory risk-adjusted capital $ 81 $ 71 Regulatory risk-adjusted capital in excess of the $ 74 $ 50 U.S. net capital, Canada regulatory risk-adjusted capital and the related capital percentages may fluctuate on a daily basis. |
Contingencies Open
Contingencies Open | 6 Months Ended |
Jun. 24, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | NOTE 7 – CONTINGENCIES In the normal course of its business, the Partnership is involved, from time to time, in various legal and regulatory matters, including arbitrations, class actions, other litigation, and examinations, investigations and proceedings by governmental authorities, self-regulatory organizations and other regulators, which may result in losses. These matters include: Wage-and-Hour Class Action. On March 13, 2018, JFC and Edward Jones were named as defendants in a purported collective and class action lawsuit ( Bland, et al. v. Edward D. Jones & Co., L.P, et al. ) filed in the U.S. District Court for the Northern District of Illinois by four former financial advisors. The lawsuit was brought under the Fair Labor Standards Act (FLSA) as well as Missouri and Illinois law and alleges that the defendants unlawfully attempted to recoup training costs from departing financial advisors and failed to pay all overtime owed to financial advisor trainees among other claims. The lawsuit seeks declaratory and injunctive relief, compensatory and liquidated damages. On March 19, 2019, the court entered an order granting the defendants' motion to dismiss all claims, but permitting the plaintiffs to amend and re-file certain of their claims. Plaintiffs filed an amended complaint on May 3, 2019. On March 30, 2020, the court partially granted the defendants' renewed motion to dismiss the amended complaint and dismissed seven of the ten causes of action it purported to state. The court's order eliminated from the case any claims that rely upon the firm's contractual right to recoup training costs as well as related claims for declaratory relief. It also dismissed various state law claims. On April 8, 2022, the parties filed a joint stipulation of dismissal with prejudice, and the district court dismissed the lawsuit on April 11, 2022. Securities Class Action. On March 30, 2018, Edward Jones and its affiliated entities and individuals were named as defendants in a putative class action ( Anderson, et al. v. Edward D. Jones & Co., L.P., et al.) filed in the U.S. District Court for the Eastern District of California. The lawsuit originally was brought under the Securities Act of 1933, as amended (the "Securities Act"), and the Exchange Act, as well as Missouri and California law and alleges that the defendants inappropriately transitioned client assets from commission-based accounts to fee-based programs. The plaintiffs requested declaratory, equitable, and exemplary relief, and compensatory damages. On July 9, 2019, the district court entered an order dismissing the lawsuit in its entirety without prejudice. On July 29, 2019, the plaintiffs filed a second amended complaint, which eliminated certain defendants, withdrew the Securities Act claims, added claims under the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"), and certain additional state law claims, and reasserted the remaining claims with modified allegations. The defendants filed a motion to dismiss, the plaintiffs subsequently withdrew their Investment Advisers Act claims, and on November 12, 2019, the district court granted the defendants' motion to dismiss all other claims. The plaintiffs appealed the district court's dismissal of certain of their state law claims on jurisdictional grounds but did not appeal the dismissal of the remaining claims. On March 4, 2021, the U.S. Court of Appeals for the Ninth Circuit reversed the district court's dismissal of those state law claims. After further appellate proceedings in the Ninth Circuit, defendants filed a petition for certiorari with the U.S. Supreme Court, which was denied on January 18, 2022. On February 2, 2022, the defendants filed a renewed motion to dismiss the plaintiffs' remaining state law claims. On May 9, 2022, the court dismissed the second amended complaint without prejudice. On May 31, 2022, the plaintiffs filed a third amended complaint alleging a single claim of breach of fiduciary duty under Missouri and California law against a single defendant, Edward Jones, which Edward Jones moved to dismiss on June 21, 2022. Edward Jones denies the plaintiffs' allegations and intends to continue to vigorously defend this lawsuit. Gender and Race Discrimination Class Action . On March 9, 2022, Edward Jones and JFC were named as defendants in a lawsuit ( Dixon, et al. v. Edward D. Jones & Co., L.P., et al. ) filed in the U.S. District Court for the Eastern District of Missouri. The lawsuit was brought by a current financial advisor as a putative collective action alleging gender discrimination under the FLSA, and by a former financial advisor as a putative class action alleging race discrimination under 42 U.S.C. § 1981. On April 25, 2022, the plaintiffs filed an amended complaint reasserting the original claims with modified allegations and adding claims under Title VII of the Civil Rights Act of 1964 alleging race/national origin, gender, and sexual orientation discrimination on behalf of putative classes of financial advisors. The defendants filed a motion to dismiss on May 23, 2022. Edward Jones and JFC deny the allegations and intend to vigorously defend this lawsuit. In addition to these matters, the Partnership provides for potential losses that may arise related to other contingencies. The Partnership assesses its liabilities and contingencies utilizing available information. The Partnership accrues for potential losses for those matters where it is probable that the Partnership will incur a potential loss to the extent that the amount of such potential loss can be reasonably estimated, in accordance with Financial Accounting Standards Board Accounting Standards Codification No. 450, Contingencies. This liability represents the Partnership’s estimate of the probable loss as of June 24, 2022 , after considering, among other factors, the progress of each case, the Partnership's experience with other legal and regulatory matters and discussion with legal counsel, and is believed to be sufficient. The aggregate accrued liability is recorded within the accounts payable, accrued expenses and other line of the Consolidated Statements of Financial Condition and may be adjusted from time to time to reflect any relevant developments . For such matters where an accrued liability has not been established and the Partnership believes a loss is both reasonably possible and estimable, as well as for matters where an accrued liability has been recorded but for which an exposure to loss in excess of the amount accrued is both reasonably possible and estimable, the current estimated aggregated range of additional possible loss is up to $ 39 as of June 24, 2022. This range of reasonably possible loss does not necessarily represent the Partnership's maximum loss exposure as the Partnership was not able to estimate a range of reasonably possible loss for all matters. Further, the matters underlying any disclosed estimated range will change from time to time, and actual results may vary significantly. While the outcome of these matters is inherently uncertain, based on information currently available, the Partnership believes that its established liabilities at June 24, 2022 are adequate, and the liabilities arising from such matters will not have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Partnership. However, based on future developments and the potential unfavorable resolution of these matters, the outcome could be material to the Partnership’s future consolidated operating results for a particular period or periods. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 24, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | NOTE 8 – SEGMENT INFORMATION The Partnership has determined it has two operating and reportable segments based upon geographic location, the U.S. and Canada. Canada segment information, as reported in the following table, is based upon the consolidated financial statements of the Partnership's Canada operations, which primarily occur through a non-guaranteed subsidiary of the Partnership. The U.S. segment information is derived from the Consolidated Financial Statements less the Canada segment information as presented. Pre-variable income represents income before variable compensation expense and before allocations to partners. This is consistent with how management reviews the segments to assess performance. The following table shows financial information for the Partnership’s reportable segments: Three Months Ended Six Months Ended June 24, 2022 June 25, 2021 June 24, 2022 June 25, 2021 Net revenue: U.S. $ 2,921 $ 2,954 $ 5,865 $ 5,733 Canada 93 80 182 154 Total net revenue $ 3,014 $ 3,034 $ 6,047 $ 5,887 Pre-variable income: U.S. $ 755 $ 915 $ 1,574 $ 1,756 Canada 19 13 36 21 Total pre-variable income $ 774 $ 928 $ 1,610 $ 1,777 Variable compensation: U.S. $ 406 $ 473 $ 870 $ 933 Canada 13 12 24 21 Total variable compensation $ 419 $ 485 $ 894 $ 954 Income before allocations to partners: U.S. $ 349 $ 442 $ 704 $ 823 Canada 6 1 12 — Total income before allocations to partners $ 355 $ 443 $ 716 $ 823 |
Offsetting Assets and Liabiliti
Offsetting Assets and Liabilities | 6 Months Ended |
Jun. 24, 2022 | |
Offsetting [Abstract] | |
Offsetting Assets and Liabilities | NOTE 9 – OFFSETTING ASSETS AND LIABILITIES The Partnership does not offset financial instruments in the Consolidated Statements of Financial Condition. However, the Partnership enters into master netting arrangements with counterparties for securities purchased under agreements to resell that are subject to net settlement in the event of default. These agreements create a right of offset for the amounts due to and due from the same counterparty in the event of default or bankruptcy. The following table shows the Partnership's securities purchased under agreements to resell as of: Gross Gross of Net amounts in the of Gross amounts not offset Statements of recognized Financial Financial Financial Securities Net June 24, 2022 $ 1,087 — 1,087 — ( 1,087 ) $ — December 31, 2021 $ 1,529 — 1,529 — ( 1,526 ) $ 3 |
Introduction and Basis of Pre_2
Introduction and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 24, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Partnership's Business and Basis of Accounting | The accompanying Consolidated Financial Statements include the accounts of The Jones Financial Companies, L.L.L.P. and all wholly-owned subsidiaries (collectively, the “Partnership” or "JFC"). The financial position of the Partnership’s subsidiaries in Canada as of May 31, 2022 and November 30, 2021 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three- and six-month periods ended May 31, 2022 and 2021 are included in the Partnership’s Consolidated Statements of Income, Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption, and Consolidated Statements of Cash Flows because of the timing of the Partnership’s financial reporting process. The Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), is a registered broker-dealer and investment adviser in the United States (“U.S.”), and one of Edward Jones’ subsidiaries, Edward Jones (an Ontario limited partnership) ("EJ Canada"), is a registered broker-dealer in Canada. Through these entities, the Partnership primarily serves individual investors in the U.S. and Canada. Edward Jones is a retail brokerage business and primarily derives revenues from fees for providing investment advisory and other account services to its clients, fees for assets held by clients and commissions for the distribution of mutual fund shares and insurance products and the purchase or sale of securities. The Partnership conducts business throughout the U.S. and Canada with its clients, various brokers, dealers, clearing organizations, depositories and banks. For financial information related to the Partnership’s two operating segments for the three- and six-month periods ended June 24, 2022 and June 25, 2021, see Note 8 to the Consolidated Financial Statements. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“Trust Co.”), a wholly-owned subsidiary of the Partnership. Olive Street Investment Advisers, LLC, a wholly-owned subsidiary of the Partnership, provides investment advisory services to the eleven sub-advised mutual funds comprising the Bridge Builder® Trust. Passport Research, Ltd., a wholly-owned subsidiary of Edward Jones, provides investment advisory services to the sub-advised Edward Jones Money Market Fund (the "Money Market Fund"). The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles, which require the use of certain estimates by management in determining the Partnership’s assets, liabilities, revenues and expenses. Actual results could differ from these estimates. Certain prior period balances have been adjusted to align to current year presentation. The interim financial information included herein is unaudited. However, in the opinion of management, such information includes all adjustments, consisting primarily of normal recurring accruals, which are necessary for a fair statement of the results of interim operations. The Partnership evaluated subsequent events for recognition or disclosure through August 5, 2022, which was the date these Consolidated Financial Statements were available to be issued, and identified no matters requiring disclosure. There have been no material changes to the Partnership’s significant accounting policies or disclosures of recently issued accounting standards as described in Part II, Item 8 – Financial Statements and Supplementary Data – Note 1 of the Partnership's Annual Report on Form 10-K for the year ended December 31, 2021 (the "Annual Report"). The results of operations for the three- and six- month periods ended June 24, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022. These unaudited Consolidated Financial Statements should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and notes thereto included in the Annual Report. |
Contingencies (ASC No.450) | The Partnership accrues for potential losses for those matters where it is probable that the Partnership will incur a potential loss to the extent that the amount of such potential loss can be reasonably estimated, in accordance with Financial Accounting Standards Board Accounting Standards Codification No. 450, Contingencies. This liability represents the Partnership’s estimate of the probable loss as of June 24, 2022 , after considering, among other factors, the progress of each case, the Partnership's experience with other legal and regulatory matters and discussion with legal counsel, and is believed to be sufficient. The aggregate accrued liability is recorded within the accounts payable, accrued expenses and other line of the Consolidated Statements of Financial Condition and may be adjusted from time to time to reflect any relevant developments |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Leases [Abstract] | |
Schedule of Future Undiscounted Cash Outflows for Operating Leases | The following table summarizes the Partnership's operating lease cost, variable lease cost not included in the lease liability and total lease cost for the: Three Months Ended Six Months Ended June 24, 2022 June 25, 2021 June 24, 2022 June 25, 2021 Operating lease cost $ 81 $ 80 $ 163 $ 158 Variable lease cost 17 15 32 29 Total lease cost $ 98 $ 95 $ 195 $ 187 |
Lease, Cost [Table Text Block] | The Partnership's future undiscounted cash outflows for operating leases are summarized below as of: June 24, 2022 2022 $ 159 2023 279 2024 215 2025 154 2026 97 Thereafter 89 Total lease payments 993 Less: Interest 44 Total present value of lease liabilities $ 949 |
Receivables and Revenue (Tables
Receivables and Revenue (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Partnership's Disaggregated Revenue | The following table s hows the Partnership's disaggregated revenue information. See Note 8 for segment information. Three Months Ended June 24, 2022 Three Months Ended June 25, 2021 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 1,804 $ 37 $ 1,841 $ 1,782 $ 31 $ 1,813 Service fees 354 28 382 388 29 417 Other asset-based fees 221 — 221 155 — 155 Total asset-based fee revenue 2,379 65 2,444 2,325 60 2,385 Account and activity fee revenue: Shareholder accounting services 113 — 113 109 — 109 Other account and activity fee 55 4 59 59 3 62 Total account and activity fee 168 4 172 168 3 171 Total fee revenue 2,547 69 2,616 2,493 63 2,556 Trade revenue: Commissions 338 14 352 412 14 426 Principal transactions 39 1 40 10 1 11 Total trade revenue 377 15 392 422 15 437 Total revenue from customers 2,924 84 3,008 2,915 78 2,993 Net interest and dividends and other ( 3 ) 9 6 39 2 41 Net revenue $ 2,921 $ 93 $ 3,014 $ 2,954 $ 80 $ 3,034 Six Months Ended June 24, 2022 Six Months Ended June 25, 2021 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 3,694 $ 74 $ 3,768 $ 3,422 $ 58 $ 3,480 Service fees 733 57 790 754 54 808 Other asset-based fees 389 — 389 306 — 306 Total asset-based fee revenue 4,816 131 4,947 4,482 112 4,594 Account and activity fee revenue: Shareholder accounting services 224 — 224 216 — 216 Other account and activity fee 113 7 120 118 7 125 Total account and activity fee 337 7 344 334 7 341 Total fee revenue 5,153 138 5,291 4,816 119 4,935 Trade revenue: Commissions 704 26 730 831 28 859 Principal transactions 49 2 51 19 1 20 Total trade revenue 753 28 781 850 29 879 Total revenue from customers 5,906 166 6,072 5,666 148 5,814 Net interest and dividends and other ( 41 ) 16 ( 25 ) 67 6 73 Net revenue $ 5,865 $ 182 $ 6,047 $ 5,733 $ 154 $ 5,887 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Fair Value Disclosures [Abstract] | |
Partnership's Financial Assets and Liabilities at Fair Value | The following tables show the Partnership’s financial assets and liabilities measured at fair value as of: June 24, 2022 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 384 $ — $ 384 Money market funds 27 — — 27 Total cash equivalents $ 27 $ 384 $ — $ 411 Investments segregated under federal regulations: U.S. treasuries $ 14,520 $ — $ — $ 14,520 Certificates of deposit — 400 — 400 Total investments segregated under federal regulations $ 14,520 $ 400 $ — $ 14,920 Securities owned: Investment securities: Government and agency obligations $ 412 $ — $ — $ 412 Mutual funds (1) 319 — — 319 Equities 12 — — 12 Total investment securities $ 743 $ — $ — $ 743 Inventory securities: Municipal obligations $ — $ 18 $ — $ 18 Mutual funds 10 — — 10 Equities 8 — — 8 Corporate bonds and notes — 5 — 5 Certificates of deposit — 1 — 1 Total inventory securities $ 18 $ 24 $ — $ 42 Other assets: Client fractional share ownership assets $ 630 $ — $ — $ 630 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 630 $ — $ — $ 630 December 31, 2021 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 266 $ — $ 266 Money market funds 47 — — 47 Total cash equivalents $ 47 $ 266 $ — $ 313 Investments segregated under federal regulations: U.S. treasuries $ 13,908 $ — $ — $ 13,908 Certificates of deposit — 400 — 400 Total investments segregated under federal regulations $ 13,908 $ 400 $ — $ 14,308 Securities owned: Investment securities: Government and agency obligations $ 413 $ — $ — $ 413 Mutual funds (1) 366 — — 366 Equities 3 — — 3 Certificates of deposit — 70 — 70 Total investment securities $ 782 $ 70 $ — $ 852 Inventory securities: Equities $ 18 $ — $ — $ 18 Municipal obligations — 9 — 9 Certificates of deposit — 6 — 6 Corporate bonds and notes — 3 — 3 Mutual funds 2 — — 2 Total inventory securities $ 20 $ 18 $ — $ 38 Other assets: Client fractional share ownership assets $ 710 $ — $ — $ 710 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 710 $ — $ — $ 710 |
Net Capital Requirements (Table
Net Capital Requirements (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Broker-Dealer [Abstract] | |
Partnership's Capital Figures for U.S. and Canada Broker-Dealer Subsidiaries | The following table shows the Partnership’s capital figures for its U.S. and Canada broker-dealers as of: June 24, 2022 December 31, 2021 U.S.: Net capital $ 1,383 $ 1,421 Net capital in excess of the minimum required $ 1,307 $ 1,352 Net capital as a percentage of aggregate debit 36.5 % 41.3 % Net capital after anticipated capital withdrawals, 18.5 % 20.7 % Canada: Regulatory risk-adjusted capital $ 81 $ 71 Regulatory risk-adjusted capital in excess of the $ 74 $ 50 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Segment Reporting [Abstract] | |
Financial Information for Partnership's Reportable Segments | The following table shows financial information for the Partnership’s reportable segments: Three Months Ended Six Months Ended June 24, 2022 June 25, 2021 June 24, 2022 June 25, 2021 Net revenue: U.S. $ 2,921 $ 2,954 $ 5,865 $ 5,733 Canada 93 80 182 154 Total net revenue $ 3,014 $ 3,034 $ 6,047 $ 5,887 Pre-variable income: U.S. $ 755 $ 915 $ 1,574 $ 1,756 Canada 19 13 36 21 Total pre-variable income $ 774 $ 928 $ 1,610 $ 1,777 Variable compensation: U.S. $ 406 $ 473 $ 870 $ 933 Canada 13 12 24 21 Total variable compensation $ 419 $ 485 $ 894 $ 954 Income before allocations to partners: U.S. $ 349 $ 442 $ 704 $ 823 Canada 6 1 12 — Total income before allocations to partners $ 355 $ 443 $ 716 $ 823 |
Offsetting Assets and Liabili_2
Offsetting Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Offsetting [Abstract] | |
Schedule of Partnership's Securities Purchased Under Agreement to Resell | The following table shows the Partnership's securities purchased under agreements to resell as of: Gross Gross of Net amounts in the of Gross amounts not offset Statements of recognized Financial Financial Financial Securities Net June 24, 2022 $ 1,087 — 1,087 — ( 1,087 ) $ — December 31, 2021 $ 1,529 — 1,529 — ( 1,526 ) $ 3 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 6 Months Ended |
Jun. 24, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information | The following table shows supplemental cash flow information for the: Six Months Ended June 24, 2022 June 25, 2021 Non-cash activities: Issuance of general partnership interests through $ 272 $ 220 Repayment of partnership loans through distributions from $ 148 $ 139 |
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Balance | The following table reconciles certain line items on the Consolidated Statements of Financial Condition to the cash, cash equivalents and restricted cash balance on the Consolidated Statements of Cash Flows as of: June 24, 2022 June 25, 2021 Cash and cash equivalents $ 1,258 $ 1,316 Cash and investments segregated under federal regulations 20,711 17,791 Less: Investments segregated under federal regulations 14,920 12,125 Total cash, cash equivalents and restricted cash $ 7,049 $ 6,982 |
Introduction and Basis of Pre_3
Introduction and Basis of Presentation - Additional Information (Detail) - Segment | 3 Months Ended | 6 Months Ended | ||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Number of operating segments | 2 | 2 | 2 | 2 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | Dec. 31, 2021 | |
Lessee Disclosure [Abstract] | |||||
Cash paid for operating leases | $ 81 | $ 82 | $ 161 | $ 160 | |
Right-of-use assets obtained in exchange for operating lease liabilities | $ 81 | $ 80 | $ 156 | $ 155 | |
Weighted average remaining lease term in years | 4 years | 4 years | 4 years | ||
Weighted average discount rate | 2.20% | 2.20% | 2.10% |
LEASES - Schedule of Lease Cost
LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | |
Lease, Cost [Abstract] | ||||
Operating lease cost | $ 81 | $ 80 | $ 163 | $ 158 |
Variable lease cost | 17 | 15 | 32 | 29 |
Total lease cost | $ 98 | $ 95 | $ 195 | $ 187 |
Leases - Schedule of Future Und
Leases - Schedule of Future Undiscounted Cash Outflows for Operating Leases (Detail) - USD ($) $ in Millions | Jun. 24, 2022 | Dec. 31, 2021 |
Lessee Disclosure [Abstract] | ||
2022 | $ 159 | |
2023 | 279 | |
2024 | 215 | |
2025 | 154 | |
2026 | 97 | |
Thereafter | 89 | |
Total lease payments | 993 | |
Less: Interest | 44 | |
Total present value of lease liabilities | $ 949 | $ 954 |
Receivables and Revenue - Addit
Receivables and Revenue - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Receivables And Revenue [Line Items] | ||||||
Collateral held for receivables from clients | $ 5,294 | $ 5,294 | $ 4,803 | |||
Collateral held for securities purchased under agreements to resell | 1,103 | 1,103 | 1,526 | |||
Expected credit loss on partnership loans | 0 | 0 | 0 | |||
Receivable from mutual fund, insurance companies and other | 939 | 939 | 850 | |||
Expected credit loss for receivables from contracts with customers | 0 | 0 | 0 | |||
Expected credit loss for receivables from clients and securities purchased under agreement to resell | 0 | 0 | 0 | |||
Customer Contracts [Member] | ||||||
Receivables And Revenue [Line Items] | ||||||
Receivable from clients balance | 625 | 625 | 695 | $ 563 | ||
Receivable from mutual fund, insurance companies and other | $ 330 | $ 330 | $ 335 | $ 285 | ||
Sales Revenue Net [Member] | Customer [Member] | Operating Segments [Member] | ||||||
Receivables And Revenue [Line Items] | ||||||
Concentration Risk, Percentage | 12% | 11% | 12% | 12% |
Receivables and Revenue - Sched
Receivables and Revenue - Schedule of Partnership's Disaggregated Revenue (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | |
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | $ 3,008 | $ 2,993 | $ 6,072 | $ 5,814 |
Net interest and dividends and other revenue | 6 | 41 | (25) | 73 |
Net revenue | 3,014 | 3,034 | 6,047 | 5,887 |
United States [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 2,924 | 2,915 | 5,906 | 5,666 |
Net interest and dividends and other revenue | (3) | 39 | (41) | 67 |
Net revenue | 2,921 | 2,954 | 5,865 | 5,733 |
Canada [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 84 | 78 | 166 | 148 |
Net interest and dividends and other revenue | 9 | 2 | 16 | 6 |
Net revenue | 93 | 80 | 182 | 154 |
Total Fee Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 2,616 | 2,556 | 5,291 | 4,935 |
Total Fee Revenue [Member] | United States [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 2,547 | 2,493 | 5,153 | 4,816 |
Total Fee Revenue [Member] | Canada [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 69 | 63 | 138 | 119 |
Asset-based Fee Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 2,444 | 2,385 | 4,947 | 4,594 |
Asset-based Fee Revenue [Member] | Advisory Programs Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 1,841 | 1,813 | 3,768 | 3,480 |
Asset-based Fee Revenue [Member] | Service Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 382 | 417 | 790 | 808 |
Asset-based Fee Revenue [Member] | Other Asset-based Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 221 | 155 | 389 | 306 |
Asset-based Fee Revenue [Member] | United States [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 2,379 | 2,325 | 4,816 | 4,482 |
Asset-based Fee Revenue [Member] | United States [Member] | Advisory Programs Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 1,804 | 1,782 | 3,694 | 3,422 |
Asset-based Fee Revenue [Member] | United States [Member] | Service Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 354 | 388 | 733 | 754 |
Asset-based Fee Revenue [Member] | United States [Member] | Other Asset-based Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 221 | 155 | 389 | 306 |
Asset-based Fee Revenue [Member] | Canada [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 65 | 60 | 131 | 112 |
Asset-based Fee Revenue [Member] | Canada [Member] | Advisory Programs Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 37 | 31 | 74 | 58 |
Asset-based Fee Revenue [Member] | Canada [Member] | Service Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 28 | 29 | 57 | 54 |
Asset-based Fee Revenue [Member] | Canada [Member] | Other Asset-based Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 0 | 0 | 0 | 0 |
Account and Activity Fee Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 172 | 171 | 344 | 341 |
Account and Activity Fee Revenue [Member] | Shareholder Accounting Services Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 113 | 109 | 224 | 216 |
Account and Activity Fee Revenue [Member] | Other Account and Activity Fee Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 59 | 62 | 120 | 125 |
Account and Activity Fee Revenue [Member] | United States [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 168 | 168 | 337 | 334 |
Account and Activity Fee Revenue [Member] | United States [Member] | Shareholder Accounting Services Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 113 | 109 | 224 | 216 |
Account and Activity Fee Revenue [Member] | United States [Member] | Other Account and Activity Fee Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 55 | 59 | 113 | 118 |
Account and Activity Fee Revenue [Member] | Canada [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 4 | 3 | 7 | 7 |
Account and Activity Fee Revenue [Member] | Canada [Member] | Shareholder Accounting Services Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 0 | 0 | 0 | 0 |
Account and Activity Fee Revenue [Member] | Canada [Member] | Other Account and Activity Fee Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 4 | 3 | 7 | 7 |
Trade Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 392 | 437 | 781 | 879 |
Trade Revenue [Member] | Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 352 | 426 | 730 | 859 |
Trade Revenue [Member] | Principal Transactions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 40 | 11 | 51 | 20 |
Trade Revenue [Member] | United States [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 377 | 422 | 753 | 850 |
Trade Revenue [Member] | United States [Member] | Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 338 | 412 | 704 | 831 |
Trade Revenue [Member] | United States [Member] | Principal Transactions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 39 | 10 | 49 | 19 |
Trade Revenue [Member] | Canada [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 15 | 15 | 28 | 29 |
Trade Revenue [Member] | Canada [Member] | Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | 14 | 14 | 26 | 28 |
Trade Revenue [Member] | Canada [Member] | Principal Transactions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenue | $ 1 | $ 1 | $ 2 | $ 1 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 24, 2022 | Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | ||
Fair value of level III, assets | $ 0 | $ 0 |
Fair Value - Partnership's Fina
Fair Value - Partnership's Financial Assets at Fair Value (Detail) - USD ($) $ in Millions | Jun. 24, 2022 | Dec. 31, 2021 |
Cash equivalents: | ||
Total cash equivalents | $ 411 | $ 313 |
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 14,920 | 14,308 |
Investment securities: | ||
Total investment securities | 743 | 852 |
Inventory securities: | ||
Total inventory securities | 42 | 38 |
Other Assets [Abstract] | ||
Client Fractional Shares Ownership Assets | 630 | 710 |
Accounts Payable and Accrued Liabilities [Abstract] | ||
Client Fractional Shares Redemption Obligations | 630 | 710 |
Equities [Member] | ||
Investment securities: | ||
Total investment securities | 12 | 3 |
Inventory securities: | ||
Total inventory securities | 8 | 18 |
Corporate Bonds and Notes [Member] | ||
Inventory securities: | ||
Total inventory securities | 5 | 3 |
Government and Agency Obligations [Member] | ||
Investment securities: | ||
Total investment securities | 412 | 413 |
U.S. Treasuries [Member] | ||
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 14,520 | 13,908 |
Mutual Funds [Member] | ||
Investment securities: | ||
Total investment securities | 319 | 366 |
Inventory securities: | ||
Total inventory securities | 10 | 2 |
State and Municipal Obligations [Member] | ||
Inventory securities: | ||
Total inventory securities | 18 | 9 |
Certificates of Deposit [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 384 | 266 |
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 400 | 400 |
Investment securities: | ||
Total investment securities | 70 | |
Inventory securities: | ||
Total inventory securities | 1 | 6 |
Money Market Fund [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 27 | 47 |
Level I [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 27 | 47 |
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 14,520 | 13,908 |
Investment securities: | ||
Total investment securities | 743 | 782 |
Inventory securities: | ||
Total inventory securities | 18 | 20 |
Other Assets [Abstract] | ||
Client Fractional Shares Ownership Assets | 630 | 710 |
Accounts Payable and Accrued Liabilities [Abstract] | ||
Client Fractional Shares Redemption Obligations | 630 | 710 |
Level I [Member] | Equities [Member] | ||
Investment securities: | ||
Total investment securities | 12 | 3 |
Inventory securities: | ||
Total inventory securities | 8 | 18 |
Level I [Member] | Corporate Bonds and Notes [Member] | ||
Inventory securities: | ||
Total inventory securities | 0 | 0 |
Level I [Member] | Government and Agency Obligations [Member] | ||
Investment securities: | ||
Total investment securities | 412 | 413 |
Level I [Member] | U.S. Treasuries [Member] | ||
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 14,520 | 13,908 |
Level I [Member] | Mutual Funds [Member] | ||
Investment securities: | ||
Total investment securities | 319 | 366 |
Inventory securities: | ||
Total inventory securities | 10 | 2 |
Level I [Member] | State and Municipal Obligations [Member] | ||
Inventory securities: | ||
Total inventory securities | 0 | 0 |
Level I [Member] | Certificates of Deposit [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 0 | 0 |
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 0 | 0 |
Investment securities: | ||
Total investment securities | 0 | |
Inventory securities: | ||
Total inventory securities | 0 | 0 |
Level I [Member] | Money Market Fund [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 27 | 47 |
Level II [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 384 | 266 |
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 400 | 400 |
Investment securities: | ||
Total investment securities | 0 | 70 |
Inventory securities: | ||
Total inventory securities | 24 | 18 |
Other Assets [Abstract] | ||
Client Fractional Shares Ownership Assets | 0 | 0 |
Accounts Payable and Accrued Liabilities [Abstract] | ||
Client Fractional Shares Redemption Obligations | 0 | 0 |
Level II [Member] | Equities [Member] | ||
Investment securities: | ||
Total investment securities | 0 | 0 |
Inventory securities: | ||
Total inventory securities | 0 | 0 |
Level II [Member] | Corporate Bonds and Notes [Member] | ||
Inventory securities: | ||
Total inventory securities | 5 | 3 |
Level II [Member] | Government and Agency Obligations [Member] | ||
Investment securities: | ||
Total investment securities | 0 | 0 |
Level II [Member] | U.S. Treasuries [Member] | ||
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 0 | 0 |
Level II [Member] | Mutual Funds [Member] | ||
Investment securities: | ||
Total investment securities | 0 | 0 |
Inventory securities: | ||
Total inventory securities | 0 | 0 |
Level II [Member] | State and Municipal Obligations [Member] | ||
Inventory securities: | ||
Total inventory securities | 18 | 9 |
Level II [Member] | Certificates of Deposit [Member] | ||
Cash equivalents: | ||
Total cash equivalents | 384 | 266 |
Investments segregated under federal regulations: | ||
Total investments segregated under federal regulations | 400 | 400 |
Investment securities: | ||
Total investment securities | 70 | |
Inventory securities: | ||
Total inventory securities | 1 | 6 |
Level II [Member] | Money Market Fund [Member] | ||
Cash equivalents: | ||
Total cash equivalents | $ 0 | $ 0 |
Partnership Capital Subject to
Partnership Capital Subject to Mandatory Redemption - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | Dec. 31, 2021 | Dec. 08, 2021 | Dec. 31, 2020 | Jan. 12, 2018 | |
Partners Capital Account [Line Items] | ||||||||
Period of loans made by Partnership to general partners | 1 year | |||||||
Percentage of interest made by partnership to general partners | 3.25% | |||||||
Outstanding amount of partner loans financed through the Partnership | $ 400 | $ 395 | $ 400 | $ 395 | $ 321 | $ 341 | ||
Interest income from outstanding amount of general partner loan | $ 4 | $ 4 | $ 7 | $ 7 | ||||
Limited partnership's minimum annual return rate | 7.50% | 7.50% | 7.50% | 7.50% | ||||
Limited partnership's minimum return, value | $ 23 | $ 23 | $ 46 | $ 46 | ||||
2018 Limited Partnership Offering [Member] | ||||||||
Partners Capital Account [Line Items] | ||||||||
Limited partnership amount registered | $ 450 | |||||||
Limited partnership interests issued | 4 | 4 | $ 5 | |||||
Remaining limited partnership interests that may be issued | 60 | 60 | ||||||
Two Thousand Twenty One Limited Partnership Offering [Member] | ||||||||
Partners Capital Account [Line Items] | ||||||||
Limited partnership amount registered | $ 700 | |||||||
Remaining limited partnership interests that may be issued | $ 700 | $ 700 |
Partnership Capital Subject t_2
Partnership Capital Subject to Mandatory Redemption - Roll Forward of Outstanding Partnership Loans (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 24, 2022 | Jun. 25, 2021 | |
Partners' Capital Notes [Abstract] | ||
Partnership loans outstanding at beginning of year | $ 321 | $ 341 |
Partnership loans issued during the period | 272 | 220 |
Repayment of Partnership loans during the period | (193) | (166) |
Partnership loans outstanding at end of period | $ 400 | $ 395 |
Net Capital Requirements - Addi
Net Capital Requirements - Additional Information (Detail) - Edward D. Jones & Co., L. P [Member] $ in Thousands | Jun. 24, 2022 USD ($) |
Net Capital Requirements [Line Items] | |
Percentage of aggregate debit items arising from customer transactions to maintain minimum net capital requirements | 0.02 |
Minimum net capital requirements | $ 250 |
Net Capital Requirements - Part
Net Capital Requirements - Partnership's Capital Figures for U.S. and Canada Broker-Dealer Subsidiaries (Detail) - USD ($) $ in Millions | Jun. 24, 2022 | Dec. 31, 2021 |
Edward D. Jones & Co., L. P [Member] | ||
Regulatory Capital Requirements | ||
Net capital | $ 1,383 | $ 1,421 |
Net capital in excess of the minimum required | $ 1,307 | $ 1,352 |
Net capital as a percentage of aggregate debit items | 36.50% | 41.30% |
Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items | 18.50% | 20.70% |
Canada [Member] | ||
Regulatory Capital Requirements | ||
Regulatory risk-adjusted capital | $ 81 | $ 71 |
Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC | $ 74 | $ 50 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) $ in Millions | Jun. 24, 2022 USD ($) |
Loss Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 39 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 6 Months Ended |
Jun. 24, 2022 Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 2 |
Segment Information - Financial
Segment Information - Financial Information for Partnership's Reportable Segments (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 24, 2022 | Jun. 25, 2021 | Jun. 24, 2022 | Jun. 25, 2021 | |
Net revenue: | ||||
Total net revenue | $ 3,014 | $ 3,034 | $ 6,047 | $ 5,887 |
Pre-variable income: | ||||
Total pre-variable income | 774 | 928 | 1,610 | 1,777 |
Variable compensation: | ||||
Total variable compensation | 419 | 485 | 894 | 954 |
Income (loss) before allocations to partners: | ||||
Total income before allocations to partners | 355 | 443 | 716 | 823 |
United States [Member] | ||||
Net revenue: | ||||
Total net revenue | 2,921 | 2,954 | 5,865 | 5,733 |
Pre-variable income: | ||||
Total pre-variable income | 755 | 915 | 1,574 | 1,756 |
Variable compensation: | ||||
Total variable compensation | 406 | 473 | 870 | 933 |
Income (loss) before allocations to partners: | ||||
Total income before allocations to partners | 349 | 442 | 704 | 823 |
Canada [Member] | ||||
Net revenue: | ||||
Total net revenue | 93 | 80 | 182 | 154 |
Pre-variable income: | ||||
Total pre-variable income | 19 | 13 | 36 | 21 |
Variable compensation: | ||||
Total variable compensation | 13 | 12 | 24 | 21 |
Income (loss) before allocations to partners: | ||||
Total income before allocations to partners | $ 6 | $ 1 | $ 12 | $ 0 |
Offsetting Assets and Liabili_3
Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Detail) - USD ($) $ in Millions | Jun. 24, 2022 | Dec. 31, 2021 |
Offsetting Securities Purchased under Agreements to Resell [Abstract] | ||
Securities purchased under agreements to resell, Gross amounts of recognized assets | $ 1,087 | $ 1,529 |
Securities purchased under agreements to resell, Gross amounts offset in the Consolidated Statements of Financial Condition | 0 | 0 |
Securities purchased under agreements to resell, Net amounts presented in the Consolidated Statements of Financial Condition | 1,087 | 1,529 |
Securities purchased under agreements to resell, Gross amounts not offset in the Consolidated Statements of Financial Condition, Financial instruments | 0 | 0 |
Securities purchased under agreements to resell, Gross amounts not offset in the Consolidated Statements of Financial Condition, Securities collateral | (1,087) | (1,526) |
Securities purchased under agreements to resell, Net amount | $ 0 | $ 3 |
Cash Flow Information - Schedul
Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 24, 2022 | Jun. 25, 2021 | |
Non-cash activities: | ||
Issuance of general partnership interests through partnership loans in current period | $ 272 | $ 220 |
Repayment of partnership loans through distributions from partnership capital in current period | $ 148 | $ 139 |
Cash Flow Information - Sched_2
Cash Flow Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Balance (Detail) - USD ($) $ in Millions | Jun. 24, 2022 | Dec. 31, 2021 | Jun. 25, 2021 |
Supplemental Cash Flow Elements [Abstract] | |||
Cash and cash equivalents | $ 1,258 | $ 1,835 | $ 1,316 |
Cash and investments segregated under federal regulations | 20,711 | $ 20,179 | 17,791 |
Less: Investments segregated under federal regulations | 14,920 | 12,125 | |
Total cash, cash equivalents and restricted cash | $ 7,049 | $ 6,982 |