Jones Financial Companies LLLP (JNFC) 10-Q 9 May 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
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		1,769,446
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	Mar. 31, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 1,940	$ 1,882
Cash and investments segregated under federal regulations	15,800	17,827
Securities purchased under agreements to resell	647	437
Receivables from:
Clients	4,183	4,375
Mutual funds, insurance companies and other	888	850
Brokers, dealers and clearing organizations	311	400
Securities owned, at fair value:
Investment securities	823	1,329
Inventory securities	75	76
Lease right-of-use assets	950	922
Fixed assets at cost net of accumulated depreciation and amortization	894	862
Other assets	1,038	932
TOTAL ASSETS	27,549	29,892
Payables to
Clients	19,219	21,359
Brokers, dealers and clearing organizations	134	392
Accrued compensation and employee benefits	1,770	2,165
Accounts payable, accrued expenses and other	1,046	1,199
Lease liabilities	981	958
Total liabilities before partnership capital	23,150	26,073
Contingencies (Note 7)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	4,059	3,355
Reserve for anticipated withdrawals	340	464
Total partnership capital subject to mandatory redemption	4,399	3,819
TOTAL LIABILITIES	27,549	29,892
Limited Partnership Capital [Member]
Payables to
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	1,773	1,212
Subordinated Limited Partnership Capital [Member]
Payables to
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	669	618
General Partnership Capital [Member]
Payables to
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	$ 1,617	$ 1,525

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Revenue:
Revenue	$ 3,025	$ 3,064
Interest and dividends	276	44
Other revenue (loss), net	58	(52)
Total revenue	3,359	3,056
Interest expense	74	23
Net revenue	3,285	3,033
Operating expenses:
Compensation and benefits	2,247	2,148
Communications and data processing	201	146
Occupancy and equipment	151	143
Fund sub-adviser fees	64	63
Professional and consulting fees	45	40
Other operating expenses	176	132
Total operating expenses	2,884	2,672
Income before allocations to partners	401	361
Allocations to partners:
Limited partners	68	43
Subordinated limited partners	45	43
General partners	288	275
Net Income	$ 0	$ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding	$ 36.15	$ 34.91
Weighted average $1,000 equivalent limited partnership units outstanding	1,775,839	1,226,276
Total Fee Revenue [Member]
Revenue:
Revenue	$ 2,685	$ 2,675
Asset-based Fee Revenue [Member]
Revenue:
Revenue	2,501	2,503
Account and Activity Fee Revenue [Member]
Revenue:
Revenue	184	172
Trade Revenue [Member]
Revenue:
Revenue	$ 340	$ 389

Consolidated Statements of In_2

Consolidated Statements of Income (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
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, 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
Partnership loans outstanding at end of period at Mar. 25, 2022	(425)	0	0	(425)
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Mar. 25, 2022	3,739	1,266	659	1,814
Reserve for anticipated withdrawals at Mar. 25, 2022	(310)	(42)	(43)	(225)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Mar. 25, 2022	3,429	1,224	616	1,589
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2022	3,819	1,312	671	1,836
Reserve for anticipated withdrawals at Dec. 31, 2022	(464)	(100)	(53)	(311)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2022	3,355	1,212	618	1,525
Partnership loans outstanding at beginning of year at Dec. 31, 2022	335	0	0	335
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2022	3,690	1,212	618	1,860
Issuance of partnership interests	945	568	65	312
Redemption of partnership interests	(92)	(7)	(14)	(71)
Income allocated to partners	401	68	45	288
Distributions	(22)	(2)	0	(20)
Total partnership capital, including capital financed with partnership loans at Mar. 31, 2023	4,922	1,839	714	2,369
Partnership loans outstanding at end of period at Mar. 31, 2023	(523)	0	0	(523)
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Mar. 31, 2023	4,399	1,839	714	1,846
Reserve for anticipated withdrawals at Mar. 31, 2023	(340)	(66)	(45)	(229)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Mar. 31, 2023	$ 4,059	$ 1,773	$ 669	$ 1,617

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
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	401	361
Depreciation and amortization	127	118
Changes in assets and liabilities:
Investments segregated under federal regulations	260	(527)
Securities purchased under agreements to resell	(210)	445
Net payable to clients	(1,948)	403
Net receivable from brokers, dealers and clearing organizations	(169)	(115)
Receivable from mutual funds, insurance companies and other	(38)	(82)
Securities owned	507	(180)
Other assets	(106)	(70)
Lease liabilities	(83)	(80)
Accrued compensation and employee benefits	(395)	(600)
Accounts payable, accrued expenses and other	(148)	(243)
Net cash used in operating activities	(1,802)	(570)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(86)	(56)
Cash used in investing activities	(86)	(56)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of partnership loans	56	44
Issuance of partnership interests	633	56
Redemption of partnership interests	(92)	(60)
Distributions from partnership capital	(418)	(417)
Net cash provided by (used in) financing activities	179	(377)
Net decrease in cash, cash equivalents and restricted cash	(1,709)	(1,003)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	8,382	7,706
End of period	$ 6,673	$ 6,703

Introduction and Basis of Prese

Introduction and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
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 February 28, 2023 and November 30, 2022 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three-month periods ended February 28, 2023 and 2022 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-month periods ended March 31, 2023 and March 25, 2022, 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 ("Olive Street"), a wholly-owned subsidiary of the Partnership, provides investment advisory services to the twelve sub-advised mutual funds comprising the Bridge Builder® Trust and the 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 May 9, 2023, 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, 2022 (the "Annual Report"). The results of operations for the three-month period ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. 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	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	NOTE 2 – LEASES For the three-month periods ended March 31, 2023 and March 25, 2022, cash paid for amounts included in the measurement of operating lease liabilities was $ 83 and $ 80 , respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $ 108 and $ 75 , respectively. The weighted-average remaining lease term was four years as of both March 31, 2023 and December 31, 2022, and the weighted-average discount rate was 2.8 % and 2.6 % , 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 March 31, 2023 March 25, 2022 Operating lease cost $ 83 $ 82 Variable lease cost 17 15 Total lease cost $ 100 $ 97 The Partnership's future undiscounted cash outflows for operating leases are summarized below as of: March 31, 2023 2023 $ 240 2024 270 2025 210 2026 153 2027 90 Thereafter 89 Total lease payments 1,052 Less: Interest 71 Total present value of lease liabilities $ 981 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	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Receivables and Revenue	NOTE 3 – RECEIVABLES AND REVENUE As of March 31, 2023 and December 31, 2022, collateral held for receivables from clients was $ 4,759 and $ 5,094 , respectively, and collateral held for securities purchased under agreements to resell was $ 656 and $ 441 , 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 March 31, 2023 and December 31, 2022. As of March 31, 2023, December 31, 2022 and December 31, 2021, $ 672 , $ 637 and $ 695 , respectively, of the receivable from clients balance and $ 297 , $ 328 and $ 335 , 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 March 31, 2023 and December 31, 2022. The following table s hows the Partnership's disaggregated revenue information. See Note 8 for segment information. Three Months Ended March 31, 2023 Three Months Ended March 25, 2022 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 1,810 $ 37 $ 1,847 $ 1,890 $ 37 $ 1,927 Service fees 336 25 361 379 29 408 Cash solutions fees 135 — 135 8 — 8 Other asset-based fees 158 — 158 160 — 160 Total asset-based fee revenue 2,439 62 2,501 2,437 66 2,503 Account and activity fee revenue: Shareholder accounting services 115 — 115 111 — 111 Other account and activity fee 66 3 69 58 3 61 Total account and activity fee 181 3 184 169 3 172 Total fee revenue 2,620 65 2,685 2,606 69 2,675 Trade revenue: Commissions 278 10 288 366 12 378 Principal transactions 50 2 52 10 1 11 Total trade revenue 328 12 340 376 13 389 Total revenue from customers 2,948 77 3,025 2,982 82 3,064 Net interest and dividends and other 242 18 260 ( 38 ) 7 ( 31 ) Net revenue $ 3,190 $ 95 $ 3,285 $ 2,944 $ 89 $ 3,033

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
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, 2022. 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 three- and twelve-month periods ended March 31, 2023 and December 31, 2022, respectively. The following tables show the Partnership’s financial assets and liabilities measured at fair value as of: March 31, 2023 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 336 $ — $ 336 Money market funds 13 — — 13 Total cash equivalents $ 13 $ 336 $ — $ 349 Investments segregated under federal regulations: U.S. treasuries $ 9,567 $ — $ — $ 9,567 Certificates of deposit — 1,500 — 1,500 Total investments segregated under federal regulations $ 9,567 $ 1,500 $ — $ 11,067 Securities owned: Investment securities: Government and agency obligations $ 400 $ — $ — $ 400 Mutual funds (1) 304 — — 304 Certificates of deposit — 100 — 100 Municipal obligations — 11 — 11 Equities 8 — — 8 Total investment securities $ 712 $ 111 $ — $ 823 Inventory securities: Municipal obligations $ — $ 33 $ — $ 33 Equities 29 — — 29 Certificates of deposit — 5 — 5 Corporate bonds and notes — 4 — 4 Mutual funds 3 — — 3 Government and agency obligations 1 — — 1 Total inventory securities $ 33 $ 42 $ — $ 75 Other assets: Client fractional share ownership assets $ 710 $ — $ — $ 710 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 710 $ — $ — $ 710 December 31, 2022 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 144 $ — $ 144 Money market funds 49 — — 49 Total cash equivalents $ 49 $ 144 $ — $ 193 Investments segregated under federal regulations: U.S. treasuries $ 10,327 $ — $ — $ 10,327 Certificates of deposit — 1,000 — 1,000 Total investments segregated under federal regulations $ 10,327 $ 1,000 $ — $ 11,327 Securities owned: Investment securities: Government and agency obligations $ 1,000 $ — $ — $ 1,000 Mutual funds (1) 310 — — 310 Municipal obligations — 11 — 11 Equities 8 — — 8 Total investment securities $ 1,318 $ 11 $ — $ 1,329 Inventory securities: Municipal obligations $ — $ 28 $ — $ 28 Corporate bonds and notes — 21 — 21 Equities 20 — — 20 Mutual funds 4 — — 4 Government and agency obligations 3 — — 3 Total inventory securities $ 27 $ 49 $ — $ 76 Other assets: Client fractional share ownership assets $ 680 $ — $ — $ 680 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 680 $ — $ — $ 680 (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.

Partnership Capital Subject to

Partnership Capital Subject to Mandatory Redemption	3 Months Ended
	Mar. 31, 2023
Partners' Capital Notes [Abstract]
Partnership Capital Subject to Mandatory Redemption	NOTE 5 – PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION The Partnership makes loans available to those general partners and, in limited circumstances, subordinated limited partners (in each case, other than members of the Enterprise Leadership Team ("ELT"), as defined in the Partnership’s Twenty-First Amended and Restated Agreement of Registered Limited Liability Limited Partnership, dated September 1, 2021 (the “Partnership Agreement”)), who require financing for some or all of their Partnership capital contributions. In limited circumstances a general partner may withdraw from the Partnership and become a subordinated limited partner while they still have an outstanding Partnership loan. It is anticipated that, of the future general and subordinated limited partnership capital contributions (in each case, other than for ELT members) requiring financing, the majority will be financed through Partnership loans. Loans made by the Partnership to such partners are generally for a period of one year but are expected to be renewed and bear interest at the greater of the Prime Rate for the last business day of the prior fiscal month or 3.25 % per annum. The Partnership recognizes interest income for the interest earned related to these loans. The outstanding amount of Partnership loans is reflected as a reduction to total Partnership capital. As of March 31, 2023 and December 31, 2022, the outstanding amount of Partnership loans was $ 523 and $ 335 , respectively. Interest income earned from these loans, which is included in interest and dividends in the Consolidated Statements of Income, was $ 10 and $ 3 for the three-month periods ended March 31, 2023 and March 25, 2022, respectively. The following table shows the roll forward of outstanding Partnership loans for the: Three Months Ended March 31, 2023 March 25, 2022 Partnership loans outstanding at beginning of period $ 335 $ 321 Partnership loans issued during the period 312 264 Repayment of Partnership loans during the period ( 124 ) ( 160 ) Total Partnership loans outstanding $ 523 $ 425 The minimum 7.5 % annual return on the face amount of limited partnership capital was $ 33 and $ 23 for the three-month periods ended March 31, 2023 and March 25, 2022, respectively. These amounts are included as a component of interest expense in the Consolidated Statements of Income. The Partnership filed a Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission (“SEC”) on December 8, 2021, to register $ 700 of limited partnership interest ("Interests") issuable pursuant to the Partnership's 2021 Employee Limited Partnership Interest Purchase Plan (the "2021 Plan"). In early 2023, the Partnership issued $ 568 of Interests under the 2021 Plan. Proceeds from the offering under the 2021 Plan are expected to be used to meet growth needs or for other purposes. The remaining $ 132 of Interests may be issued at the discretion of the Managing Partner in the future.

Net Capital Requirements

Net Capital Requirements	3 Months Ended
	Mar. 31, 2023
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 New Self-Regulatory Organization of Canada ("New SRO") in 2023, and previously was regulated by the Investment Industry Regulatory Organization of Canada ("IIROC") in 2022. Under the regulations prescribed by IIROC through December 31, 2022 and the New SRO thereafter, EJ Canada was and 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 the U.S. and Canada broker-dealer subsidiaries as of: March 31, 2023 December 31, 2022 U.S.: Net capital $ 1,101 $ 1,038 Net capital in excess of the minimum required $ 1,032 $ 965 Net capital as a percentage of aggregate debit 31.9 % 28.4 % Net capital after anticipated capital withdrawals, 15.4 % 13.3 % Canada: Regulatory risk-adjusted capital $ 112 $ 103 Regulatory risk-adjusted capital in excess of $ 111 $ 102 U.S. net capital, Canada regulatory risk-adjusted capital and the related capital percentages may fluctuate on a daily basis.

Contingencies Open

Contingencies Open	3 Months Ended
	Mar. 31, 2023
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: 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. The district court denied the motion to dismiss in an order filed on October 26, 2022. Edward Jones filed its answer to the third amended complaint on November 14, 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 Fair Labor Standards Act, 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, and on September 15, 2022, the court stayed further proceedings in the case pending a decision on the motion to dismiss. On March 31, 2023, the district court denied the motion to dismiss and lifted the stay of proceedings. Edward Jones and JFC filed an answer to the amended complaint on April 17, 2023. Edward Jones and JFC deny the allegations and intend to vigorously defend this lawsuit. Home Office Gender Discrimination Class Action . Edward Jones and JFC were named as defendants in a lawsuit brought by a former employee ( Zigler v. Edward D. Jones & Co., L.P. et al. ) in the Northern District of Illinois. The initial complaint filed on September 1, 2022 alleged putative class and collective claims under the Equal Pay Act of 1963, Title VII of the Civil Rights Act of 1964 and Illinois state laws of gender-based wage discrimination against a subset of female home office associates whom the plaintiff described as “home office financial advisor[s]." The plaintiff amended the complaint on November 29, 2022, seeking to expand the putative collective and class definitions to include all female home office associates in any role. Edward Jones and JFC filed a motion to dismiss the amended complaint on January 6, 2023. Edward Jones and JFC deny the allegations and intend to vigorously defend this lawsuit. SEC Off-Channel Communications Platforms Investigation . Edward Jones has been responding to requests from the SEC in connection with its publicly reported investigation of compliance by broker-dealers, investment advisers and other financial institutions with recordkeeping requirements. The investigation relates to retention of electronic communications stored on personal devices or messaging platforms that have not been approved by Edward Jones for business use by its employees. Edward Jones is cooperating with the SEC’s investigation. 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 March 31, 2023 , 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 $ 31 as of March 31, 2023. 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 as of March 31, 2023 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	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 March 25, 2022 Net revenue: U.S. $ 3,190 $ 2,944 Canada 95 89 Total net revenue $ 3,285 $ 3,033 Pre-variable income: U.S. $ 793 $ 819 Canada 20 17 Total pre-variable income $ 813 $ 836 Variable compensation: U.S. $ 403 $ 464 Canada 9 11 Total variable compensation $ 412 $ 475 Income before allocations to partners: U.S. $ 390 $ 355 Canada 11 6 Total income before allocations to partners $ 401 $ 361

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 $ 647 — 647 — ( 647 ) $ — December 31, 2022 $ 437 — 437 — ( 437 ) $ —

Cash Flow Information

Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	NOTE 10 – CASH FLOW INFORMATION The following table shows supplemental cash flow information for the: Three Months Ended March 31, 2023 March 25, 2022 Non-cash activities: Issuance of general partnership interests through $ 312 $ 264 Repayment of partnership loans through distributions from $ 68 $ 116 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: March 31, 2023 March 25, 2022 Cash and cash equivalents $ 1,940 $ 1,306 Cash and investments segregated under federal regulations 15,800 20,232 Less: Investments segregated under federal regulations 11,067 14,835 Total cash, cash equivalents and restricted cash $ 6,673 $ 6,703 Restricted cash represents cash segregated in special reserve bank accounts for the benefit of U.S. clients pursuant to Rule 15c3-3 under the Exchange Act.

Introduction and Basis of Pre_2

Introduction and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
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 February 28, 2023 and November 30, 2022 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three-month periods ended February 28, 2023 and 2022 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-month periods ended March 31, 2023 and March 25, 2022, 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 ("Olive Street"), a wholly-owned subsidiary of the Partnership, provides investment advisory services to the twelve sub-advised mutual funds comprising the Bridge Builder® Trust and the 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 May 9, 2023, 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, 2022 (the "Annual Report"). The results of operations for the three-month period ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. 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 March 31, 2023 , 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)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Lease Cost	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 March 31, 2023 March 25, 2022 Operating lease cost $ 83 $ 82 Variable lease cost 17 15 Total lease cost $ 100 $ 97
Schedule of Future Undiscounted Cash Outflows for Operating Leases	The Partnership's future undiscounted cash outflows for operating leases are summarized below as of: March 31, 2023 2023 $ 240 2024 270 2025 210 2026 153 2027 90 Thereafter 89 Total lease payments 1,052 Less: Interest 71 Total present value of lease liabilities $ 981

Receivables and Revenue (Tables

Receivables and Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 Three Months Ended March 25, 2022 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 1,810 $ 37 $ 1,847 $ 1,890 $ 37 $ 1,927 Service fees 336 25 361 379 29 408 Cash solutions fees 135 — 135 8 — 8 Other asset-based fees 158 — 158 160 — 160 Total asset-based fee revenue 2,439 62 2,501 2,437 66 2,503 Account and activity fee revenue: Shareholder accounting services 115 — 115 111 — 111 Other account and activity fee 66 3 69 58 3 61 Total account and activity fee 181 3 184 169 3 172 Total fee revenue 2,620 65 2,685 2,606 69 2,675 Trade revenue: Commissions 278 10 288 366 12 378 Principal transactions 50 2 52 10 1 11 Total trade revenue 328 12 340 376 13 389 Total revenue from customers 2,948 77 3,025 2,982 82 3,064 Net interest and dividends and other 242 18 260 ( 38 ) 7 ( 31 ) Net revenue $ 3,190 $ 95 $ 3,285 $ 2,944 $ 89 $ 3,033

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
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: March 31, 2023 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 336 $ — $ 336 Money market funds 13 — — 13 Total cash equivalents $ 13 $ 336 $ — $ 349 Investments segregated under federal regulations: U.S. treasuries $ 9,567 $ — $ — $ 9,567 Certificates of deposit — 1,500 — 1,500 Total investments segregated under federal regulations $ 9,567 $ 1,500 $ — $ 11,067 Securities owned: Investment securities: Government and agency obligations $ 400 $ — $ — $ 400 Mutual funds (1) 304 — — 304 Certificates of deposit — 100 — 100 Municipal obligations — 11 — 11 Equities 8 — — 8 Total investment securities $ 712 $ 111 $ — $ 823 Inventory securities: Municipal obligations $ — $ 33 $ — $ 33 Equities 29 — — 29 Certificates of deposit — 5 — 5 Corporate bonds and notes — 4 — 4 Mutual funds 3 — — 3 Government and agency obligations 1 — — 1 Total inventory securities $ 33 $ 42 $ — $ 75 Other assets: Client fractional share ownership assets $ 710 $ — $ — $ 710 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 710 $ — $ — $ 710 December 31, 2022 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 144 $ — $ 144 Money market funds 49 — — 49 Total cash equivalents $ 49 $ 144 $ — $ 193 Investments segregated under federal regulations: U.S. treasuries $ 10,327 $ — $ — $ 10,327 Certificates of deposit — 1,000 — 1,000 Total investments segregated under federal regulations $ 10,327 $ 1,000 $ — $ 11,327 Securities owned: Investment securities: Government and agency obligations $ 1,000 $ — $ — $ 1,000 Mutual funds (1) 310 — — 310 Municipal obligations — 11 — 11 Equities 8 — — 8 Total investment securities $ 1,318 $ 11 $ — $ 1,329 Inventory securities: Municipal obligations $ — $ 28 $ — $ 28 Corporate bonds and notes — 21 — 21 Equities 20 — — 20 Mutual funds 4 — — 4 Government and agency obligations 3 — — 3 Total inventory securities $ 27 $ 49 $ — $ 76 Other assets: Client fractional share ownership assets $ 680 $ — $ — $ 680 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 680 $ — $ — $ 680

Partnership Capital Subject t_2

Partnership Capital Subject to Mandatory Redemption (Tables)	3 Months Ended
	Mar. 31, 2023
Partners' Capital Notes [Abstract]
Roll Forward of Outstanding Partnership Loans	The following table shows the roll forward of outstanding Partnership loans for the: Three Months Ended March 31, 2023 March 25, 2022 Partnership loans outstanding at beginning of period $ 335 $ 321 Partnership loans issued during the period 312 264 Repayment of Partnership loans during the period ( 124 ) ( 160 ) Total Partnership loans outstanding $ 523 $ 425

Net Capital Requirements (Table

Net Capital Requirements (Tables)	3 Months Ended
	Mar. 31, 2023
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 the U.S. and Canada broker-dealer subsidiaries as of: March 31, 2023 December 31, 2022 U.S.: Net capital $ 1,101 $ 1,038 Net capital in excess of the minimum required $ 1,032 $ 965 Net capital as a percentage of aggregate debit 31.9 % 28.4 % Net capital after anticipated capital withdrawals, 15.4 % 13.3 % Canada: Regulatory risk-adjusted capital $ 112 $ 103 Regulatory risk-adjusted capital in excess of $ 111 $ 102

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 March 25, 2022 Net revenue: U.S. $ 3,190 $ 2,944 Canada 95 89 Total net revenue $ 3,285 $ 3,033 Pre-variable income: U.S. $ 793 $ 819 Canada 20 17 Total pre-variable income $ 813 $ 836 Variable compensation: U.S. $ 403 $ 464 Canada 9 11 Total variable compensation $ 412 $ 475 Income before allocations to partners: U.S. $ 390 $ 355 Canada 11 6 Total income before allocations to partners $ 401 $ 361

Offsetting Assets and Liabili_2

Offsetting Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 $ 647 — 647 — ( 647 ) $ — December 31, 2022 $ 437 — 437 — ( 437 ) $ —

Cash Flow Information (Tables)

Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table shows supplemental cash flow information for the: Three Months Ended March 31, 2023 March 25, 2022 Non-cash activities: Issuance of general partnership interests through $ 312 $ 264 Repayment of partnership loans through distributions from $ 68 $ 116
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: March 31, 2023 March 25, 2022 Cash and cash equivalents $ 1,940 $ 1,306 Cash and investments segregated under federal regulations 15,800 20,232 Less: Investments segregated under federal regulations 11,067 14,835 Total cash, cash equivalents and restricted cash $ 6,673 $ 6,703

Introduction and Basis of Pre_3

Introduction and Basis of Presentation - Additional Information (Detail) - Segment	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2	2

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Dec. 31, 2022
Lessee Disclosure [Abstract]
Cash paid for operating leases	$ 83	$ 80
Right-of-use assets obtained in exchange for operating lease liabilities	$ 108	$ 75
Weighted average remaining lease term in years	4 years		4 years
Weighted average discount rate	2.80%		2.60%

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 83	$ 82
Variable lease cost	17	15
Total lease cost	$ 100	$ 97

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Cash Outflows for Operating Leases (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Lessee Disclosure [Abstract]
2023	$ 240
2024	270
2025	210
2026	153
2027	90
Thereafter	89
Total lease payments	1,052
Less: Interest	71
Total present value of lease liabilities	$ 981	$ 958

Receivables and Revenue - Addit

Receivables and Revenue - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables And Revenue [Line Items]
Receivables from clients	$ 4,759	$ 5,094
Collateral held for securities purchased under agreements to resell	656	441
Expected credit loss on partnership loans	0	0
Receivable from mutual fund, insurance companies and other	888	850
Expected credit loss for receivables from contracts with customers	0	0
Expected credit loss for receivables from clients and securities purchased under agreement to resell	0	0
Customer Contracts [Member]
Receivables And Revenue [Line Items]
Receivable from clients balance	672	637	$ 695
Receivable from mutual fund, insurance companies and other	$ 297	$ 328	$ 335

Receivables and Revenue - Sched

Receivables and Revenue - Schedule of Partnership's Disaggregated Revenue (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Disaggregation Of Revenue [Line Items]
Net revenue	$ 3,025	$ 3,064
Net interest and dividends and other revenue	260	(31)
Net revenue	3,285	3,033
United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	2,948	2,982
Net interest and dividends and other revenue	242	(38)
Net revenue	3,190	2,944
Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	77	82
Net interest and dividends and other revenue	18	7
Net revenue	95	89
Total Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	2,685	2,675
Total Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	2,620	2,606
Total Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	65	69
Asset-based Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	2,501	2,503
Asset-based Fee Revenue [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,847	1,927
Asset-based Fee Revenue [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	361	408
Asset-based Fee Revenue [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	158	160
Asset-based Fee Revenue [Member] | Cash Solutions Fees Member
Disaggregation Of Revenue [Line Items]
Net revenue	135	8
Asset-based Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	2,439	2,437
Asset-based Fee Revenue [Member] | United States [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,810	1,890
Asset-based Fee Revenue [Member] | United States [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	336	379
Asset-based Fee Revenue [Member] | United States [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	158	160
Asset-based Fee Revenue [Member] | United States [Member] | Cash Solutions Fees Member
Disaggregation Of Revenue [Line Items]
Net revenue	135	8
Asset-based Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	62	66
Asset-based Fee Revenue [Member] | Canada [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	37	37
Asset-based Fee Revenue [Member] | Canada [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	25	29
Asset-based Fee Revenue [Member] | Canada [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	0	0
Asset-based Fee Revenue [Member] | Canada [Member] | Cash Solutions Fees Member
Disaggregation Of Revenue [Line Items]
Net revenue	0	0
Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	184	172
Account and Activity Fee Revenue [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	115	111
Account and Activity Fee Revenue [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	69	61
Account and Activity Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	181	169
Account and Activity Fee Revenue [Member] | United States [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	115	111
Account and Activity Fee Revenue [Member] | United States [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	66	58
Account and Activity Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3	3
Account and Activity Fee Revenue [Member] | Canada [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	0	0
Account and Activity Fee Revenue [Member] | Canada [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3	3
Trade Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	340	389
Trade Revenue [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	288	378
Trade Revenue [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	52	11
Trade Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	328	376
Trade Revenue [Member] | United States [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	278	366
Trade Revenue [Member] | United States [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	50	10
Trade Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	12	13
Trade Revenue [Member] | Canada [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	10	12
Trade Revenue [Member] | Canada [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 2	$ 1

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value of level III, assets	$ 0	$ 0

Fair Value - Partnership's Fina

Fair Value - Partnership's Financial Assets and Liabilities at Fair Value (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 25, 2022
Cash equivalents:
Total cash equivalents	$ 349	$ 193
Investments segregated under federal regulations:
Total investments segregated under federal regulations	11,067	11,327	$ 14,835
Investment securities:
Total investment securities	823	1,329
Inventory securities:
Total inventory securities	75	76
Other Assets
Client Fractional Shares Ownership Assets	710	680
Accounts payable, accrued expenses and other:
Client Fractional Shares Redemption Obligations	710	680
Equities [Member]
Investment securities:
Total investment securities	8	8
Inventory securities:
Total inventory securities	29	20
Corporate Bonds and Notes [Member]
Inventory securities:
Total inventory securities	4	21
Government and Agency Obligations [Member]
Investment securities:
Total investment securities	400	1,000
Inventory securities:
Total inventory securities	1	3
U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	9,567	10,327
Mutual Funds [Member]
Investment securities:
Total investment securities	304	310
Inventory securities:
Total inventory securities	3	4
Municipal Obligations [Member]
Investment securities:
Total investment securities	11	11
Inventory securities:
Total inventory securities	33	28
Certificates of Deposit [Member]
Cash equivalents:
Total cash equivalents	336	144
Investments segregated under federal regulations:
Total investments segregated under federal regulations	1,500	1,000
Investment securities:
Total investment securities	100
Inventory securities:
Total inventory securities	5
Money Market Fund [Member]
Cash equivalents:
Total cash equivalents	13	49
Level I [Member]
Cash equivalents:
Total cash equivalents	13	49
Investments segregated under federal regulations:
Total investments segregated under federal regulations	9,567	10,327
Investment securities:
Total investment securities	712	1,318
Inventory securities:
Total inventory securities	33	27
Other Assets
Client Fractional Shares Ownership Assets	710	680
Accounts payable, accrued expenses and other:
Client Fractional Shares Redemption Obligations	710	680
Level I [Member] | Equities [Member]
Investment securities:
Total investment securities	8	8
Inventory securities:
Total inventory securities	29	20
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	400	1,000
Inventory securities:
Total inventory securities	1	3
Level I [Member] | U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	9,567	10,327
Level I [Member] | Mutual Funds [Member]
Investment securities:
Total investment securities	304	310
Inventory securities:
Total inventory securities	3	4
Level I [Member] | Municipal Obligations [Member]
Investment securities:
Total investment securities	0	0
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
Level I [Member] | Money Market Fund [Member]
Cash equivalents:
Total cash equivalents	13	49
Level II [Member]
Cash equivalents:
Total cash equivalents	336	144
Investments segregated under federal regulations:
Total investments segregated under federal regulations	1,500	1,000
Investment securities:
Total investment securities	111	11
Inventory securities:
Total inventory securities	42	49
Other Assets
Client Fractional Shares Ownership Assets	0	0
Accounts payable, accrued expenses and other:
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	4	21
Level II [Member] | Government and Agency Obligations [Member]
Investment securities:
Total investment securities	0	0
Inventory securities:
Total inventory 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] | Municipal Obligations [Member]
Investment securities:
Total investment securities	11	11
Inventory securities:
Total inventory securities	33	28
Level II [Member] | Certificates of Deposit [Member]
Cash equivalents:
Total cash equivalents	336	144
Investments segregated under federal regulations:
Total investments segregated under federal regulations	1,500	1,000
Investment securities:
Total investment securities	100
Inventory securities:
Total inventory securities	5
Level II [Member] | Money Market Fund [Member]
Cash equivalents:
Total cash equivalents	0	0
Level III [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	0
Inventory securities:
Total inventory securities	0	0
Other Assets
Client Fractional Shares Ownership Assets	0	0
Accounts payable, accrued expenses and other:
Client Fractional Shares Redemption Obligations	0	0
Level III [Member] | Equities [Member]
Investment securities:
Total investment securities	0	0
Inventory securities:
Total inventory securities	0	0
Level III [Member] | Corporate Bonds and Notes [Member]
Inventory securities:
Total inventory securities	0	0
Level III [Member] | Government and Agency Obligations [Member]
Investment securities:
Total investment securities	0	0
Inventory securities:
Total inventory securities	0	0
Level III [Member] | U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	0	0
Level III [Member] | Mutual Funds [Member]
Investment securities:
Total investment securities	0	0
Inventory securities:
Total inventory securities	0	0
Level III [Member] | Municipal Obligations [Member]
Investment securities:
Total investment securities	0	0
Inventory securities:
Total inventory securities	0	0
Level III [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
Level III [Member] | Money Market Fund [Member]
Cash equivalents:
Total cash equivalents	$ 0	$ 0

Partnership Capital Subject t_3

Partnership Capital Subject to Mandatory Redemption - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 08, 2021
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%
Partnership loans outstanding	$ 523	$ 425	$ (335)	$ (321)
Interest income from outstanding amount of general partner loan	$ 10	3
Limited partnership's minimum annual return rate	7.50%
Limited partnership's minimum return, value	$ 33	$ 23
Two Thousand Twenty One Limited Partnership Offering [Member]
Partners Capital Account [Line Items]
Limited partnership amount registered					$ 700
Limited partnership interests issued	568
Remaining limited partnership interests that may be issued	$ 132

Partnership Capital Subject t_4

Partnership Capital Subject to Mandatory Redemption - Roll Forward of Outstanding Partnership Loans (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Partners' Capital Notes [Abstract]
Partnership loans outstanding at beginning of year	$ 335	$ 321
Partnership loans issued during the period	312	264
Repayment of Partnership loans during the period	(124)	(160)
Partnership loans outstanding at end of period	$ 523	$ 425

Net Capital Requirements - Addi

Net Capital Requirements - Additional Information (Detail) - Edward D. Jones & Co., L. P [Member] $ in Thousands	Mar. 31, 2023 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	Mar. 31, 2023	Dec. 31, 2022
Edward D. Jones & Co., L. P [Member]
Regulatory Capital Requirements
Net capital	$ 1,101	$ 1,038
Net capital in excess of the minimum required	$ 1,032	$ 965
Net capital as a percentage of aggregate debit items	31.90%	28.40%
Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items	15.40%	13.30%
Canada [Member]
Regulatory Capital Requirements
Regulatory risk-adjusted capital	$ 112	$ 103
Regulatory risk-adjusted capital in excess of the minimum required	$ 111	$ 102

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	Mar. 31, 2023 USD ($)
Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 31

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 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
	Mar. 31, 2023	Mar. 25, 2022
Net revenue:
Total net revenue	$ 3,285	$ 3,033
Pre-variable income:
Total pre-variable income	813	836
Variable compensation:
Total variable compensation	412	475
Income before allocations to partners:
Income before allocations to partners	401	361
United States [Member]
Net revenue:
Total net revenue	3,190	2,944
Pre-variable income:
Total pre-variable income	793	819
Variable compensation:
Total variable compensation	403	464
Income before allocations to partners:
Income before allocations to partners	390	355
Canada [Member]
Net revenue:
Total net revenue	95	89
Pre-variable income:
Total pre-variable income	20	17
Variable compensation:
Total variable compensation	9	11
Income before allocations to partners:
Income before allocations to partners	$ 11	$ 6

Offsetting Assets and Liabili_3

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Offsetting Securities Purchased under Agreements to Resell [Abstract]
Securities purchased under agreements to resell, Gross amounts of recognized assets	$ 647	$ 437
Securities purchased under agreements to resell, Net amounts presented in the Consolidated Statements of Financial Condition	647	437
Securities purchased under agreements to resell, Gross amounts not offset in the Consolidated Statements of Financial Condition, Securities collateral	(647)	(437)
Securities purchased under agreements to resell, Net amount	$ 0	$ 0

Cash Flow Information - Schedul

Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Non-cash activities:
Issuance of general partnership interests through partnership loans in current period	$ 312	$ 264
Repayment of partnership loans through distributions from partnership capital in current period	$ 68	$ 116

Cash Flow Information - Sched_2

Cash Flow Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Balance (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 25, 2022
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 1,940	$ 1,882	$ 1,306
Cash and investments segregated under federal regulations	15,800	17,827	20,232
Less: Investments segregated under federal regulations	11,067	$ 11,327	14,835
Total cash, cash equivalents and restricted cash	$ 6,673		$ 6,703