Jones Financial Companies LLLP (JNFC) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 27, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 27, 2024
Document Fiscal Year Focus	2024
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		1,734,516
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	Sep. 27, 2024	Dec. 31, 2023
ASSETS:
Cash and cash equivalents	$ 1,944	$ 1,645
Cash and investments, at fair value, segregated under federal regulations	13,246	15,565
Securities purchased under agreements to resell	736	1,139
Receivables from:
Clients	4,199	3,922
Mutual funds, insurance companies and other	935	891
Brokers, dealers and clearing organizations	347	429
Securities owned, at fair value:
Investment securities	1,379	1,069
Inventory securities	214	88
Fixed assets, at cost, net of accumulated depreciation and amortization	1,289	1,093
Lease right-of-use assets	1,075	1,029
Other assets	1,217	1,133
TOTAL ASSETS	26,581	28,003
Payables to
Clients	16,319	18,246
Brokers, dealers and clearing organizations	218	131
Accrued compensation and employee benefits	2,808	2,506
Accounts payable, accrued expenses and other	1,359	1,427
Lease liabilities	1,108	1,066
Total liabilities before partnership capital	21,812	23,376
Contingencies (Note 7)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	4,341	4,049
Reserve for anticipated withdrawals	428	578
Total partnership capital and profits interests subject to mandatory redemption	4,769	4,627
TOTAL LIABILITIES	26,581	28,003
Limited Partnership Capital [Member]
Payables to
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	1,737	1,750
Subordinated Limited Partnership Capital [Member]
Payables to
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	718	666
General Partnership Capital [Member]
Payables to
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	$ 1,886	$ 1,633

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Revenue:
Revenue	$ 3,811	$ 3,253	$ 10,966	$ 9,415
Interest and dividends	294	292	904	851
Other revenue, net	83	15	149	99
Total revenue	4,188	3,560	12,019	10,365
Interest expense	65	67	199	213
Net revenue	4,123	3,493	11,820	10,152
Operating expenses:
Compensation and benefits	2,822	2,358	8,160	6,923
Communications and data processing	243	239	739	668
Occupancy and equipment	159	155	475	461
Fund sub-adviser fees	81	70	233	201
Professional and consulting fees	47	47	137	130
Advertising	38	40	118	107
Other operating expenses	174	190	462	457
Total operating expenses	3,564	3,099	10,324	8,947
Income before allocations to partners	559	394	1,496	1,205
Allocations to partners:
Limited partners	85	66	232	203
Profits interests	12	0	32	0
Subordinated limited partners	61	44	164	135
General partners	401	284	1,068	867
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	$ 46.42	$ 35.54	$ 123.83	$ 108.72
Weighted average $1,000 equivalent limited partnership units outstanding	1,738,470	1,760,636	1,744,585	1,767,944
Total Fee Revenue [Member]
Revenue:
Revenue	$ 3,369	$ 2,894	$ 9,667	$ 8,371
Asset-based Fee Revenue [Member]
Revenue:
Revenue	3,184	2,708	9,103	7,809
Account and Activity Fee Revenue [Member]
Revenue:
Revenue	185	186	564	562
Trade Revenue [Member]
Revenue:
Revenue	$ 442	$ 359	$ 1,299	$ 1,044

Consolidated Statements of In_2

Consolidated Statements of Income (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Statement [Abstract]
Limited partnership interest value	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Weighted Average Limited Partnership Outstanding Per Unit	$ 1,000	$ 1,000	$ 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]	Profits Interests [Member]	Subordinated Limited Partnership Capital [Member]	General Partnership Capital [Member]
Reserve for anticipated withdrawals	$ (464)	$ (100)		$ (53)	$ (311)
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2022	3,819	1,312		671	1,836
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 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)
Net 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
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2022	3,819	1,312		671	1,836
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 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
Other comprehensive loss allocations	0
Total partnership capital, including capital financed with partnership loans at Sep. 29, 2023	4,939	1,948		681	2,310
Partnership loans outstanding at Sep. 29, 2023	(464)	0		0	(464)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Sep. 29, 2023	4,134	1,758		667	1,709
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Sep. 29, 2023	4,475	1,948		681	1,846
Issuance of partnership interests	8	0		2	6
Redemption of partnership interests	(24)	(7)		(1)	(16)
Net income allocated to partners	410	69		46	295
Distributions	(442)	(9)		(75)	(358)
Total partnership capital, including capital financed with partnership loans at Jun. 30, 2023	4,874	1,892		686	2,296
Issuance of partnership interests	3	0		3	0
Redemption of partnership interests	(52)	(8)		(6)	(38)
Net income allocated to partners	394	66		44	284
Other comprehensive loss allocations	0
Distributions	(280)	(2)		(46)	(232)
Total partnership capital, including capital financed with partnership loans at Sep. 29, 2023	4,939	1,948		681	2,310
Partnership loans outstanding at Sep. 29, 2023	(464)	0		0	(464)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Sep. 29, 2023	4,134	1,758		667	1,709
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Sep. 29, 2023	4,475	1,948		681	1,846
Reserve for anticipated withdrawals	341	190		14	137
Reserve for anticipated withdrawals	(578)	(170)	$ 0	(60)	(348)
TOTAL PARTNERSHIP CAPITAL AND PROFITS INTERESTS SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2023	4,627
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2023	4,627	1,920	0	726	1,981
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2023	4,049	1,750	0	666	1,633
Partnership loans outstanding at Dec. 31, 2023	439	0	0	0	439
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2023	4,488	1,750	0	666	2,072
Issuance of partnership interests	337	6	0	64	267
Redemption of partnership interests	(64)	(7)	0	(11)	(46)
Net income allocations	467	74	10	52	331
Other comprehensive loss allocations	(3)	(1)	0	0	(2)
Distributions	(21)	4	0	0	(25)
Total partnership capital, including capital financed with partnership loans, and profits interests at Mar. 29, 2024	5,204	1,826	10	771	2,597
TOTAL PARTNERSHIP CAPITAL AND PROFITS INTERESTS SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2023	4,627
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2023	4,627	1,920	0	726	1,981
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2023	4,049	1,750	0	666	1,633
Partnership loans outstanding at Dec. 31, 2023	439	0	0	0	439
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2023	4,488	1,750	0	666	2,072
Other comprehensive loss allocations	(2)
Total partnership capital, including capital financed with partnership loans, and profits interests at Sep. 27, 2024	5,283	1,951	4	739	2,589
Partnership loans outstanding at Sep. 27, 2024	(514)	0	0	0	(514)
TOTAL PARTNERSHIP CAPITAL AND PROFITS INTERESTS SUBJECT TO MANDATORY REDEMPTION at Sep. 27, 2024	4,769	1,951	4	739	2,075
Reserve for anticipated withdrawals at Sep. 27, 2024	(428)	(214)	(4)	(21)	(189)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Sep. 27, 2024	4,341	1,737	0	718	1,886
Issuance of partnership interests	4	1	0	0	3
Redemption of partnership interests	(16)	(6)	0	0	(10)
Net income allocations	470	73	10	51	336
Distributions	(530)	(19)	(17)	(85)	(409)
Total partnership capital, including capital financed with partnership loans, and profits interests at Jun. 28, 2024	5,132	1,875	3	737	2,517
Issuance of partnership interests	2	0	0	1	1
Redemption of partnership interests	(43)	(7)	0	(2)	(34)
Net income allocations	559	85	12	61	401
Other comprehensive loss allocations	1	0	0	0	1
Distributions	(368)	(2)	(11)	(58)	(297)
Total partnership capital, including capital financed with partnership loans, and profits interests at Sep. 27, 2024	5,283	1,951	4	739	2,589
Partnership loans outstanding at Sep. 27, 2024	(514)	0	0	0	(514)
TOTAL PARTNERSHIP CAPITAL AND PROFITS INTERESTS SUBJECT TO MANDATORY REDEMPTION at Sep. 27, 2024	4,769	1,951	4	739	2,075
Reserve for anticipated withdrawals at Sep. 27, 2024	(428)	(214)	(4)	(21)	(189)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Sep. 27, 2024	4,341	$ 1,737	$ 0	$ 718	$ 1,886
Reserve for anticipated withdrawals	$ (428)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0
Other comprehensive income (loss):
Foreign currency translation	1	0	(2)	0
Comprehensive income (loss) before allocations to partners	1	0	(2)	0
Allocations to partners	1	0	(2)	0
Total comprehensive income (loss)	$ 0	$ 0	$ 0	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners	1,496	1,205
Foreign currency translation	(2)	0
Depreciation and amortization	451	414
Changes in assets and liabilities:
Investments segregated under federal regulations	2,355	1,134
Securities purchased under agreements to resell	403	(917)
Net payable to clients	(2,204)	(3,185)
Net receivable from brokers, dealers and clearing organizations	169	(111)
Receivable from mutual funds, insurance companies and other	(44)	(3)
Securities owned	(436)	52
Other assets	(87)	(56)
Lease liabilities	(261)	(253)
Accrued compensation and employee benefits	302	111
Accounts payable, accrued expenses and other	(65)	(40)
Net cash provided by (used in) operating activities	2,077	(1,649)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(390)	(307)
Cash used in investing activities	(390)	(307)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of partnership loans	42	58
Issuance of partnership interests	73	638
Redemption of partnership interests	(123)	(168)
Distributions from partnership capital	(1,344)	(1,077)
Net cash used in financing activities	(1,352)	(549)
Net decrease in cash, cash equivalents and restricted cash	335	(2,505)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	5,817	8,382
End of period	$ 6,152	$ 5,877

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Introduction and Basis of Prese

Introduction and Basis of Presentation	9 Months Ended
	Sep. 27, 2024
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 August 31, 2024 and November 30, 2023 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three- and nine-month periods ended August 31, 2024 and 2023 are included in the Partnership’s Consolidated Statements of Income, Consolidated Statements of Comprehensive Income (Loss), Consolidated Statements of Changes in Partnership Capital and Profits Interests 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 subsidiaries are Edward D. Jones & Co., L.P. (“Edward Jones”), a registered broker-dealer and investment adviser in the United States (“U.S.”), and Edward Jones (an Ontario limited partnership), a registered broker-dealer in Canada ("EJ Canada"). Through these entities, the Partnership primarily serves individual investors in the U.S. and Canada as a retail brokerage business that 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 North America through its U.S. and Canada business units 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 nine-month periods ended September 27, 2024 and September 29, 2023, 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 Edward Jones Money Market Fund (the "Money Market Fund") and the twelve sub-advised mutual funds comprising the Bridge Builder® Trust. 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 Partnership evaluated subsequent events for recognition or disclosure through the date these Consolidated Financial Statements were issued and identified no matters requiring disclosure other than those disclosed in Note 7. 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 the date these Consolidated Financial Statements were issued and identified no matters requiring disclosure. The results of operations for the three- and nine-month periods ended September 27, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. 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 Partnership's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Annual Report"). 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 Annual Report, other than the modification and addition disclosed below. Foreign Exchange. Assets and liabilities denominated in a foreign currency are translated at the exchange rate at the end of the period. Revenue and expenses denominated in a foreign currency are translated using the average exchange rate for each period. Effective January 1, 2024, the functional currency for the Partnership's Canada subsidiaries changed prospectively from U.S. dollars to Canadian dollars due to a change in facts and economic indicators, including sustained profitability in Canada, with no material impact to the Consolidated Financial Statements. As a result, foreign exchange gains and losses from the translation of EJ Canada's financial statements into U.S. dollars are reflected on the Consolidated Statements of Comprehensive Income (Loss). Under the terms of the Partnership’s Twenty-Second Amended and Restated Agreement of Registered Limited Liability Limited Partnership, dated August 15, 2023 (the “Partnership Agreement”), other comprehensive income (loss) is allocated to partners, which results in no accumulated other comprehensive income on the Consolidated Statements of Financial Condition. Profits Interests. Effective January 1, 2024, the Partnership began issuing Profits Interests to certain financial advisors in the U.S., to enable them to further share in the Partnership's Net Income, as defined in the Partnership Agreement as income and other comprehensive income (loss) before allocations to partners. Profits Interests do not require a capital investment but, like limited partnership interests ("Interests"), give the holder the right to allocations and distributions of the Partnership's Net Income before allocations to subordinated limited partners and general partners. The amount of Net Income allocated to a Profits Interest holder is based on a bookkeeping measure expressed in terms of a notional U.S. dollar amount ("Notional Capital") held by such Profits Interests holder. Profits Interests have no book value, are not redeemable for any value in the future, and expire upon the earlier of the redemption of the Profits Interest or at the end of their stated term. To the extent the Partnership experiences a Net Loss for a given calendar year, as defined in the Partnership Agreement, Profits Interest holders, like limited partners, would not be allocated such Net Loss. Profits Interests have a maximum three-calendar year term from the date of issuance. Profits Interests are considered mandatorily redeemable under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") No. 480, Distinguishing Liabilities from Equity . Undistributed Partnership Net Income allocations are included in reserve for anticipated withdrawals on the Consolidated Statements of Financial Condition until distributed. The Partnership's Net Income allocations for Profits Interests are disclosed separately on the Consolidated Statements of Income and Consolidated Statements of Changes in Partnership Capital and Profits Interests. Profits Interests are intended to be granted annually as part of an associate recognition and retention program. The Partnership granted and issued Profits Interests for no cash consideration on January 1, 2024, to provide Profits Interest holders with allocations of Net Income based upon a $ 263 Notional Capital amount for the 2024 calendar year. The Profits Interests are fully vested and participate in Net Income allocations upon grant. Any future rights to allocations and distributions of the Partnership's Net Income will be forfeited upon termination of the Profits Interest. Profits Interests have zero fair value on grant date, therefore no compensation expense is recognized upon issuance or over their stated term.

Leases

Leases	9 Months Ended
	Sep. 27, 2024
Leases [Abstract]
Leases	NOTE 2 – LEASES For the three- and nine-month periods ended September 27, 2024 and September 29, 2023, respectively, cash paid for amounts included in the measurement of operating lease liabilities was $ 88 and $ 261 and $ 85 and $ 253 , respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $ 96 and $ 295 and $ 117 and $ 344 , respectively. As of September 27, 2024 and December 31, 2023, the weighted-average remaining lease term was four years for both periods and the weighted-average discount rates were 4.1 % and 3.7 % , 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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Operating lease cost $ 87 $ 85 $ 259 $ 252 Variable lease cost 19 17 54 51 Total lease cost $ 106 $ 102 $ 313 $ 303 The Partnership's future undiscounted cash outflows for operating leases are summarized below as of: September 27, 2024 2024 $ 88 2025 331 2026 278 2027 216 2028 151 Thereafter 163 Total lease payments 1,227 Less: Interest 119 Total present value of lease liabilities $ 1,108 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	9 Months Ended
	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
Receivables and Revenue	NOTE 3 – RECEIVABLES AND REVENUE As of September 27, 2024 and December 31, 2023, collateral held for receivables from clients was $ 4,874 and $ 4,231 , respectively, and collateral held for securities purchased under agreements to resell was $ 747 and $ 1,158 , respectively. Given the nature of the agreements for receivables from clients and given the counterparties for resale agreements are financial institutions that the Partnership considers to be reputable and reliable , 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 September 27, 2024 and December 31, 2023. As of September 27, 2024, December 31, 2023 and December 31, 2022, $ 859 , $ 732 and $ 637 , respectively, of the receivable from clients balance and $ 367 , $ 343 and $ 328 , 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, the collateral value of those accounts continues to exceed the amortized cost basis of these receivables and the receivables have a short duration. As a result, the Partnership does not expect an event or change which would result in the receivables being undercollateralized or unpaid . The expected credit loss for receivables from contracts with customers was zero as of September 27, 2024 and December 31, 2023. The following table s hows the Partnership's disaggregated revenue information. See Note 8 for segment information. Three Months Ended Three Months Ended September 27, 2024 September 29, 2023 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 2,396 $ 49 $ 2,445 $ 1,974 $ 41 $ 2,015 Service fees 385 26 411 352 26 378 Cash solutions fees 141 — 141 150 — 150 Other asset-based fees 187 — 187 165 — 165 Total asset-based fee revenue 3,109 75 3,184 2,641 67 2,708 Account and activity fee revenue: Shareholder accounting services fees 116 — 116 116 — 116 Other account and activity fee revenue 66 3 69 67 3 70 Total account and activity fee revenue 182 3 185 183 3 186 Total fee revenue 3,291 78 3,369 2,824 70 2,894 Trade revenue: Commissions 371 12 383 294 10 304 Principal transactions 56 3 59 52 3 55 Total trade revenue 427 15 442 346 13 359 Total revenue from customers 3,718 93 3,811 3,170 83 3,253 Net interest and dividends and other revenue 296 16 312 224 16 240 Net revenue $ 4,014 $ 109 $ 4,123 $ 3,394 $ 99 $ 3,493 Nine Months Ended Nine Months Ended September 27, 2024 September 29, 2023 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 6,781 $ 139 $ 6,920 $ 5,672 $ 117 $ 5,789 Service fees 1,126 77 1,203 1,032 75 1,107 Cash solutions fees 435 — 435 428 — 428 Other asset-based fees 545 — 545 485 — 485 Total asset-based fee revenue 8,887 216 9,103 7,617 192 7,809 Account and activity fee revenue: Shareholder accounting services fees 349 — 349 346 — 346 Other account and activity fee revenue 205 10 215 206 10 216 Total account and activity fee revenue 554 10 564 552 10 562 Total fee revenue 9,441 226 9,667 8,169 202 8,371 Trade revenue: Commissions 1,092 37 1,129 855 31 886 Principal transactions 161 9 170 151 7 158 Total trade revenue 1,253 46 1,299 1,006 38 1,044 Total revenue from customers 10,694 272 10,966 9,175 240 9,415 Net interest and dividends and other revenue 801 53 854 688 49 737 Net revenue $ 11,495 $ 325 $ 11,820 $ 9,863 $ 289 $ 10,152

Fair Value

Fair Value	9 Months Ended
	Sep. 27, 2024
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, 2023. 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 nine- and twelve-month periods ended September 27, 2024 and December 31, 2023, respectively. The following tables show the Partnership’s financial assets and liabilities measured at fair value as of: September 27, 2024 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 163 $ — $ 163 Money market funds 73 — — 73 Total cash equivalents $ 73 $ 163 $ — $ 236 Investments segregated under federal regulations: U.S. treasuries $ 7,938 $ — $ — $ 7,938 Certificates of deposit — 1,100 — 1,100 Total investments segregated under federal regulations $ 7,938 $ 1,100 $ — $ 9,038 Securities owned: Investment securities: Government and agency obligations $ 895 $ — $ — $ 895 Mutual funds (1) 364 — — 364 Certificates of deposit — 100 — 100 Municipal obligations — 12 — 12 Equities 8 — — 8 Total investment securities $ 1,267 $ 112 $ — $ 1,379 Inventory securities: Mutual funds $ 103 $ — $ — $ 103 Municipal obligations — 50 — 50 Equities 19 — — 19 Corporate bonds and notes — 15 — 15 Government and agency obligations 15 — — 15 Certificates of deposit — 12 — 12 Total inventory securities $ 137 $ 77 $ — $ 214 Other assets: Client fractional share ownership assets $ 925 $ — $ — $ 925 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 925 $ — $ — $ 925 December 31, 2023 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 179 $ — $ 179 Money market funds 76 — — 76 Total cash equivalents $ 76 $ 179 $ — $ 255 Investments segregated under federal regulations: U.S. treasuries $ 9,893 $ — $ — $ 9,893 Certificates of deposit — 1,500 — 1,500 Total investments segregated under federal regulations $ 9,893 $ 1,500 $ — $ 11,393 Securities owned: Investment securities: Government and agency obligations $ 600 $ — $ — $ 600 Mutual funds (1) 346 — — 346 Certificates of deposit — 100 — 100 Municipal obligations — 12 — 12 Equities 11 — — 11 Total investment securities $ 957 $ 112 $ — $ 1,069 Inventory securities: Municipal obligations $ — $ 29 $ — $ 29 Equities 21 — — 21 Certificates of deposit — 20 — 20 Mutual funds 9 — — 9 Corporate bonds and notes — 5 — 5 Government and agency obligations 4 — — 4 Total inventory securities $ 34 $ 54 $ — $ 88 Other assets: Client fractional share ownership assets $ 824 $ — $ — $ 824 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 824 $ — $ — $ 824 (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	9 Months Ended
	Sep. 27, 2024
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 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 September 27, 2024 and December 31, 2023, the outstanding amount of Partnership loans was $ 514 and $ 439 , respectively. Interest income earned from these loans, which is included in interest and dividends in the Consolidated Statements of Income, was $ 12 and $ 36 and $ 10 and $ 30 for the three- and nine-month periods ended September 27, 2024 and September 29, 2023, respectively. The following table shows the roll forward of outstanding Partnership loans for the: Nine Months Ended September 27, 2024 September 29, 2023 Partnership loans outstanding at beginning of period $ 439 $ 335 Partnership loans issued during the period 270 318 Repayment of Partnership loans during the period ( 195 ) ( 189 ) Total Partnership loans outstanding $ 514 $ 464 The minimum 7.5 % annual return on the face amount of limited partnership capital was $ 32 and $ 98 and $ 33 and $ 99 for the three- and nine-month periods ended September 27, 2024 and September 29, 2023, 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 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. The remaining $ 132 of Interests may be issued at the discretion of the Managing Partner in the future. The Partnership also issued $ 7 of Interests pursuant to a private placement offering in 2024 and may issue additional Interests from time to time in the future. Proceeds from these offerings are expected to be used to meet growth needs or for other purposes.

Net Capital Requirements

Net Capital Requirements	9 Months Ended
	Sep. 27, 2024
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 Canadian Investment Regulatory Organization ("CIRO"). Under the regulations prescribed by CIRO, EJ Canada is required to maintain minimum levels of risk-adjusted capital, which are dependent on the nature of EJ Canada's assets and results of operations. The following table shows the Partnership’s capital figures for the U.S. and Canada broker-dealer subsidiaries as of: September 27, 2024 December 31, 2023 U.S.: Net capital $ 1,383 $ 981 Net capital in excess of the minimum required $ 1,320 $ 919 Net capital as a percentage of aggregate debit 43.6 % 31.7 % Net capital after anticipated capital withdrawals, 12.9 % 13.0 % Canada: Regulatory risk-adjusted capital $ 101 $ 136 Regulatory risk-adjusted capital in excess of $ 94 $ 134 U.S. net capital, Canada regulatory risk-adjusted capital and the related capital percentages may fluctuate on a daily basis.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 27, 2024
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. On September 22, 2023, the plaintiffs moved for class certification. On the same date, Edward Jones moved for summary judgment on the plaintiffs' individual claims and to dismiss the third amended complaint on jurisdictional grounds. The district court entered an order denying the motion to dismiss on January 8, 2024 and held a hearing on Edward Jones' motion for summary judgment on May 23, 2024. On September 9, 2024, the district court entered an order granting Edward Jones' motion for summary judgment and denying all other pending motions as moot, including the motion for class certification. On October 4, 2024, the plaintiffs filed a notice of appeal. 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 then 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. The first phase of discovery related to collective and class certification is proceeding. 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 ("EPA"), 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. On June 9, 2023, the district court granted in part and denied in part the defendants' motion to dismiss, permitting the plaintiff's EPA claim and related state-law claim to proceed in connection with only one of the roles she held during her employment by the firm, limiting the plaintiff's Title VII claim and related state-law claim to a disparate treatment theory of liability as opposed to a disparate impact theory, and accepting the plaintiff's agreement to dismiss JFC from the case without prejudice. Edward Jones filed its answer to the amended complaint on June 23, 2023. The first phase of discovery related to collective and class certification is proceeding. Edward Jones denies the allegations and intends to vigorously defend this lawsuit. SEC Off-Channel Communications Platforms Investigation . Edward Jones entered into a settlement with the SEC on August 14, 2024 in connection with its publicly reported investigation of compliance by broker-dealers, investment advisers, and other financial institutions relating to retention of electronic communications stored on personal devices or messaging platforms that were not approved by Edward Jones for business use by its employees. Edward Jones fully cooperated with the SEC's investigation and resolved the matter pursuant to a publicly-filed order. The settlement imposes a cease-and-desist order and censure, required Edward Jones to pay a $ 50 civil monetary penalty and requires Edward Jones to fulfill certain undertakings including retention of an independent compliance consultant to assess the firm's policies and systems regarding electronic communications recordkeeping and assist Edward Jones in further enhancing those policies and systems. 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 FASB ASC No. 450, Contingencies. This liability represents the Partnership’s estimate of the probable loss as of September 27, 2024, 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 in accounts payable, accrued expenses and other on 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 $ 13 as of September 27, 2024. 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 September 27, 2024 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	9 Months Ended
	Sep. 27, 2024
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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Net revenue: U.S. $ 4,014 $ 3,394 $ 11,495 $ 9,863 Canada 109 99 325 289 Total net revenue $ 4,123 $ 3,493 $ 11,820 $ 10,152 Pre-variable income: U.S. $ 1,173 $ 840 $ 3,204 $ 2,496 Canada 24 21 71 62 Total pre-variable income $ 1,197 $ 861 $ 3,275 $ 2,558 Variable compensation: U.S. $ 625 $ 457 $ 1,742 $ 1,322 Canada 13 10 37 31 Total variable compensation $ 638 $ 467 $ 1,779 $ 1,353 Income before allocations to partners: U.S. $ 548 $ 383 $ 1,462 $ 1,174 Canada 11 11 34 31 Total income before allocations to partners $ 559 $ 394 $ 1,496 $ 1,205

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	9 Months Ended
	Sep. 27, 2024
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 September 27, 2024 $ 736 — 736 — ( 736 ) $ — December 31, 2023 $ 1,139 — 1,139 — ( 1,139 ) $ —

Cash Flow Information

Cash Flow Information	9 Months Ended
	Sep. 27, 2024
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	NOTE 10 – CASH FLOW INFORMATION The following table shows supplemental cash flow information for the: Nine Months Ended September 27, 2024 September 29, 2023 Non-cash activities: Issuance of general partnership interests through $ 270 $ 318 Repayment of partnership loans through distributions from $ 153 $ 131 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: September 27, 2024 September 29, 2023 Cash and cash equivalents $ 1,944 $ 2,427 Cash and investments segregated under federal regulations 13,246 13,643 Less: Investments segregated under federal regulations 9,038 10,193 Total cash, cash equivalents and restricted cash $ 6,152 $ 5,877 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)	9 Months Ended
	Sep. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign Exchange	Foreign Exchange. Assets and liabilities denominated in a foreign currency are translated at the exchange rate at the end of the period. Revenue and expenses denominated in a foreign currency are translated using the average exchange rate for each period. Effective January 1, 2024, the functional currency for the Partnership's Canada subsidiaries changed prospectively from U.S. dollars to Canadian dollars due to a change in facts and economic indicators, including sustained profitability in Canada, with no material impact to the Consolidated Financial Statements. As a result, foreign exchange gains and losses from the translation of EJ Canada's financial statements into U.S. dollars are reflected on the Consolidated Statements of Comprehensive Income (Loss). Under the terms of the Partnership’s Twenty-Second Amended and Restated Agreement of Registered Limited Liability Limited Partnership, dated August 15, 2023 (the “Partnership Agreement”), other comprehensive income (loss) is allocated to partners, which results in no accumulated other comprehensive income on the Consolidated Statements of Financial Condition.
Profits Interests	Profits Interests. Effective January 1, 2024, the Partnership began issuing Profits Interests to certain financial advisors in the U.S., to enable them to further share in the Partnership's Net Income, as defined in the Partnership Agreement as income and other comprehensive income (loss) before allocations to partners. Profits Interests do not require a capital investment but, like limited partnership interests ("Interests"), give the holder the right to allocations and distributions of the Partnership's Net Income before allocations to subordinated limited partners and general partners. The amount of Net Income allocated to a Profits Interest holder is based on a bookkeeping measure expressed in terms of a notional U.S. dollar amount ("Notional Capital") held by such Profits Interests holder. Profits Interests have no book value, are not redeemable for any value in the future, and expire upon the earlier of the redemption of the Profits Interest or at the end of their stated term. To the extent the Partnership experiences a Net Loss for a given calendar year, as defined in the Partnership Agreement, Profits Interest holders, like limited partners, would not be allocated such Net Loss. Profits Interests have a maximum three-calendar year term from the date of issuance. Profits Interests are considered mandatorily redeemable under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") No. 480, Distinguishing Liabilities from Equity . Undistributed Partnership Net Income allocations are included in reserve for anticipated withdrawals on the Consolidated Statements of Financial Condition until distributed. The Partnership's Net Income allocations for Profits Interests are disclosed separately on the Consolidated Statements of Income and Consolidated Statements of Changes in Partnership Capital and Profits Interests. Profits Interests are intended to be granted annually as part of an associate recognition and retention program. The Partnership granted and issued Profits Interests for no cash consideration on January 1, 2024, to provide Profits Interest holders with allocations of Net Income based upon a $ 263 Notional Capital amount for the 2024 calendar year. The Profits Interests are fully vested and participate in Net Income allocations upon grant. Any future rights to allocations and distributions of the Partnership's Net Income will be forfeited upon termination of the Profits Interest. Profits Interests have zero fair value on grant date, therefore no compensation expense is recognized upon issuance or over their stated term.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 27, 2024
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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Operating lease cost $ 87 $ 85 $ 259 $ 252 Variable lease cost 19 17 54 51 Total lease cost $ 106 $ 102 $ 313 $ 303
Schedule of Future Undiscounted Cash Outflows for Operating Leases	The Partnership's future undiscounted cash outflows for operating leases are summarized below as of: September 27, 2024 2024 $ 88 2025 331 2026 278 2027 216 2028 151 Thereafter 163 Total lease payments 1,227 Less: Interest 119 Total present value of lease liabilities $ 1,108

Receivables and Revenue (Tables

Receivables and Revenue (Tables)	9 Months Ended
	Sep. 27, 2024
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 Three Months Ended September 27, 2024 September 29, 2023 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 2,396 $ 49 $ 2,445 $ 1,974 $ 41 $ 2,015 Service fees 385 26 411 352 26 378 Cash solutions fees 141 — 141 150 — 150 Other asset-based fees 187 — 187 165 — 165 Total asset-based fee revenue 3,109 75 3,184 2,641 67 2,708 Account and activity fee revenue: Shareholder accounting services fees 116 — 116 116 — 116 Other account and activity fee revenue 66 3 69 67 3 70 Total account and activity fee revenue 182 3 185 183 3 186 Total fee revenue 3,291 78 3,369 2,824 70 2,894 Trade revenue: Commissions 371 12 383 294 10 304 Principal transactions 56 3 59 52 3 55 Total trade revenue 427 15 442 346 13 359 Total revenue from customers 3,718 93 3,811 3,170 83 3,253 Net interest and dividends and other revenue 296 16 312 224 16 240 Net revenue $ 4,014 $ 109 $ 4,123 $ 3,394 $ 99 $ 3,493 Nine Months Ended Nine Months Ended September 27, 2024 September 29, 2023 U.S. Canada Total U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 6,781 $ 139 $ 6,920 $ 5,672 $ 117 $ 5,789 Service fees 1,126 77 1,203 1,032 75 1,107 Cash solutions fees 435 — 435 428 — 428 Other asset-based fees 545 — 545 485 — 485 Total asset-based fee revenue 8,887 216 9,103 7,617 192 7,809 Account and activity fee revenue: Shareholder accounting services fees 349 — 349 346 — 346 Other account and activity fee revenue 205 10 215 206 10 216 Total account and activity fee revenue 554 10 564 552 10 562 Total fee revenue 9,441 226 9,667 8,169 202 8,371 Trade revenue: Commissions 1,092 37 1,129 855 31 886 Principal transactions 161 9 170 151 7 158 Total trade revenue 1,253 46 1,299 1,006 38 1,044 Total revenue from customers 10,694 272 10,966 9,175 240 9,415 Net interest and dividends and other revenue 801 53 854 688 49 737 Net revenue $ 11,495 $ 325 $ 11,820 $ 9,863 $ 289 $ 10,152

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 27, 2024
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: September 27, 2024 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 163 $ — $ 163 Money market funds 73 — — 73 Total cash equivalents $ 73 $ 163 $ — $ 236 Investments segregated under federal regulations: U.S. treasuries $ 7,938 $ — $ — $ 7,938 Certificates of deposit — 1,100 — 1,100 Total investments segregated under federal regulations $ 7,938 $ 1,100 $ — $ 9,038 Securities owned: Investment securities: Government and agency obligations $ 895 $ — $ — $ 895 Mutual funds (1) 364 — — 364 Certificates of deposit — 100 — 100 Municipal obligations — 12 — 12 Equities 8 — — 8 Total investment securities $ 1,267 $ 112 $ — $ 1,379 Inventory securities: Mutual funds $ 103 $ — $ — $ 103 Municipal obligations — 50 — 50 Equities 19 — — 19 Corporate bonds and notes — 15 — 15 Government and agency obligations 15 — — 15 Certificates of deposit — 12 — 12 Total inventory securities $ 137 $ 77 $ — $ 214 Other assets: Client fractional share ownership assets $ 925 $ — $ — $ 925 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 925 $ — $ — $ 925 December 31, 2023 Level I Level II Level III Total Assets: Cash equivalents: Certificates of deposit $ — $ 179 $ — $ 179 Money market funds 76 — — 76 Total cash equivalents $ 76 $ 179 $ — $ 255 Investments segregated under federal regulations: U.S. treasuries $ 9,893 $ — $ — $ 9,893 Certificates of deposit — 1,500 — 1,500 Total investments segregated under federal regulations $ 9,893 $ 1,500 $ — $ 11,393 Securities owned: Investment securities: Government and agency obligations $ 600 $ — $ — $ 600 Mutual funds (1) 346 — — 346 Certificates of deposit — 100 — 100 Municipal obligations — 12 — 12 Equities 11 — — 11 Total investment securities $ 957 $ 112 $ — $ 1,069 Inventory securities: Municipal obligations $ — $ 29 $ — $ 29 Equities 21 — — 21 Certificates of deposit — 20 — 20 Mutual funds 9 — — 9 Corporate bonds and notes — 5 — 5 Government and agency obligations 4 — — 4 Total inventory securities $ 34 $ 54 $ — $ 88 Other assets: Client fractional share ownership assets $ 824 $ — $ — $ 824 Liabilities: Accounts payable, accrued expenses and other: Client fractional share redemption obligations $ 824 $ — $ — $ 824 (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 t_2

Partnership Capital Subject to Mandatory Redemption (Tables)	9 Months Ended
	Sep. 27, 2024
Partners' Capital Notes [Abstract]
Roll Forward of Outstanding Partnership Loans	The following table shows the roll forward of outstanding Partnership loans for the: Nine Months Ended September 27, 2024 September 29, 2023 Partnership loans outstanding at beginning of period $ 439 $ 335 Partnership loans issued during the period 270 318 Repayment of Partnership loans during the period ( 195 ) ( 189 ) Total Partnership loans outstanding $ 514 $ 464

Net Capital Requirements (Table

Net Capital Requirements (Tables)	9 Months Ended
	Sep. 27, 2024
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: September 27, 2024 December 31, 2023 U.S.: Net capital $ 1,383 $ 981 Net capital in excess of the minimum required $ 1,320 $ 919 Net capital as a percentage of aggregate debit 43.6 % 31.7 % Net capital after anticipated capital withdrawals, 12.9 % 13.0 % Canada: Regulatory risk-adjusted capital $ 101 $ 136 Regulatory risk-adjusted capital in excess of $ 94 $ 134

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 27, 2024
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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Net revenue: U.S. $ 4,014 $ 3,394 $ 11,495 $ 9,863 Canada 109 99 325 289 Total net revenue $ 4,123 $ 3,493 $ 11,820 $ 10,152 Pre-variable income: U.S. $ 1,173 $ 840 $ 3,204 $ 2,496 Canada 24 21 71 62 Total pre-variable income $ 1,197 $ 861 $ 3,275 $ 2,558 Variable compensation: U.S. $ 625 $ 457 $ 1,742 $ 1,322 Canada 13 10 37 31 Total variable compensation $ 638 $ 467 $ 1,779 $ 1,353 Income before allocations to partners: U.S. $ 548 $ 383 $ 1,462 $ 1,174 Canada 11 11 34 31 Total income before allocations to partners $ 559 $ 394 $ 1,496 $ 1,205

Offsetting Assets and Liabili_2

Offsetting Assets and Liabilities (Tables)	9 Months Ended
	Sep. 27, 2024
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 September 27, 2024 $ 736 — 736 — ( 736 ) $ — December 31, 2023 $ 1,139 — 1,139 — ( 1,139 ) $ —

Cash Flow Information (Tables)

Cash Flow Information (Tables)	9 Months Ended
	Sep. 27, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table shows supplemental cash flow information for the: Nine Months Ended September 27, 2024 September 29, 2023 Non-cash activities: Issuance of general partnership interests through $ 270 $ 318 Repayment of partnership loans through distributions from $ 153 $ 131
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: September 27, 2024 September 29, 2023 Cash and cash equivalents $ 1,944 $ 2,427 Cash and investments segregated under federal regulations 13,246 13,643 Less: Investments segregated under federal regulations 9,038 10,193 Total cash, cash equivalents and restricted cash $ 6,152 $ 5,877

Introduction and Basis of Pre_3

Introduction and Basis of Presentation - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024 Segment	Sep. 29, 2023 Segment	Sep. 27, 2024 Segment	Sep. 29, 2023 Segment	Jan. 01, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments | Segment	2	2	2	2
Limited partnership's minimum annual return rate			7.50%	7.50%
Notional capital granted and issued | $					$ 263

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 31, 2023
Lessee Disclosure [Abstract]
Cash paid for operating leases	$ 88	$ 85	$ 261	$ 253
Right-of-use assets obtained in exchange for operating lease liabilities	$ 96	$ 117	$ 295	$ 344
Weighted average remaining lease term in years	4 years		4 years		4 years
Weighted average discount rate	4.10%		4.10%		3.70%

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 87	$ 85	$ 259	$ 252
Variable lease cost	19	17	54	51
Total lease cost	$ 106	$ 102	$ 313	$ 303

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Cash Outflows for Operating Leases (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
2024	$ 88
2025	331
2026	278
2027	216
2028	151
Thereafter	163
Total lease payments	1,227
Less: Interest	119
Total present value of lease liabilities	$ 1,108	$ 1,066

Receivables and Revenue - Addit

Receivables and Revenue - Additional Information (Detail) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables And Revenue [Line Items]
Receivables from clients collateral	$ 4,874	$ 4,231
Collateral held for securities purchased under agreements to resell	747	1,158
Expected credit loss on partnership loans	0	0
Receivable from mutual fund, insurance companies and other	935	891
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	859	732	$ 637
Receivable from mutual fund, insurance companies and other	$ 367	$ 343	$ 328

Receivables and Revenue - Sched

Receivables and Revenue - Schedule of Partnership's Disaggregated Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Disaggregation Of Revenue [Line Items]
Total revenue from customers	$ 3,811	$ 3,253	$ 10,966	$ 9,415
Net interest and dividends and other revenue	312	240	854	737
Net revenue	4,123	3,493	11,820	10,152
United States [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3,718	3,170	10,694	9,175
Net interest and dividends and other revenue	296	224	801	688
Net revenue	4,014	3,394	11,495	9,863
Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	93	83	272	240
Net interest and dividends and other revenue	16	16	53	49
Net revenue	109	99	325	289
Total Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3,369	2,894	9,667	8,371
Total Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3,291	2,824	9,441	8,169
Total Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	78	70	226	202
Asset-based Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3,184	2,708	9,103	7,809
Asset-based Fee Revenue [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	2,445	2,015	6,920	5,789
Asset-based Fee Revenue [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	411	378	1,203	1,107
Asset-based Fee Revenue [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	187	165	545	485
Asset-based Fee Revenue [Member] | Cash Solutions Fees Member
Disaggregation Of Revenue [Line Items]
Total revenue from customers	141	150	435	428
Asset-based Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3,109	2,641	8,887	7,617
Asset-based Fee Revenue [Member] | United States [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	2,396	1,974	6,781	5,672
Asset-based Fee Revenue [Member] | United States [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	385	352	1,126	1,032
Asset-based Fee Revenue [Member] | United States [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	187	165	545	485
Asset-based Fee Revenue [Member] | United States [Member] | Cash Solutions Fees Member
Disaggregation Of Revenue [Line Items]
Total revenue from customers	141	150	435	428
Asset-based Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	75	67	216	192
Asset-based Fee Revenue [Member] | Canada [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	49	41	139	117
Asset-based Fee Revenue [Member] | Canada [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	26	26	77	75
Asset-based Fee Revenue [Member] | Canada [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	0	0	0	0
Asset-based Fee Revenue [Member] | Canada [Member] | Cash Solutions Fees Member
Disaggregation Of Revenue [Line Items]
Total revenue from customers	0	0	0	0
Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	185	186	564	562
Account and Activity Fee Revenue [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	116	116	349	346
Account and Activity Fee Revenue [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	69	70	215	216
Account and Activity Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	182	183	554	552
Account and Activity Fee Revenue [Member] | United States [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	116	116	349	346
Account and Activity Fee Revenue [Member] | United States [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	66	67	205	206
Account and Activity Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3	3	10	10
Account and Activity Fee Revenue [Member] | Canada [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	0	0	0	0
Account and Activity Fee Revenue [Member] | Canada [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	3	3	10	10
Trade Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	442	359	1,299	1,044
Trade Revenue [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	383	304	1,129	886
Trade Revenue [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	59	55	170	158
Trade Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	427	346	1,253	1,006
Trade Revenue [Member] | United States [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	371	294	1,092	855
Trade Revenue [Member] | United States [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	56	52	161	151
Trade Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	15	13	46	38
Trade Revenue [Member] | Canada [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	12	10	37	31
Trade Revenue [Member] | Canada [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from customers	$ 3	$ 3	$ 9	$ 7

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 27, 2024	Dec. 31, 2023
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		Sep. 27, 2024	Dec. 31, 2023
Cash equivalents:
Total cash equivalents		$ 236	$ 255
Investments segregated under federal regulations:
Total investments segregated under federal regulations		9,038	11,393
Securities owned:
Total investment securities		1,379	1,069
Inventory securities:
Total inventory securities		214	88
Other Assets:
Client Fractional Shares Ownership Assets		925	824
Accounts payable, accrued expenses and other:
Client Fractional Shares Redemption Obligations		925	824
Equities [Member]
Securities owned:
Total investment securities		8	11
Inventory securities:
Total inventory securities		19	21
Corporate Bonds and Notes [Member]
Inventory securities:
Total inventory securities		15	5
Government and Agency Obligations [Member]
Securities owned:
Total investment securities		895	600
Inventory securities:
Total inventory securities		15	4
U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations		7,938	9,893
Mutual Funds [Member]
Securities owned:
Total investment securities	[1]	364	346
Inventory securities:
Total inventory securities		103	9
Municipal Obligations [Member]
Securities owned:
Total investment securities		12	12
Inventory securities:
Total inventory securities		50	29
Certificates of deposit [Member]
Cash equivalents:
Total cash equivalents		163	179
Investments segregated under federal regulations:
Total investments segregated under federal regulations		1,100	1,500
Securities owned:
Total investment securities		100	100
Inventory securities:
Total inventory securities		12	20
Money Market Funds [Member]
Cash equivalents:
Total cash equivalents		73	76
Level I [Member]
Cash equivalents:
Total cash equivalents		73	76
Investments segregated under federal regulations:
Total investments segregated under federal regulations		7,938	9,893
Securities owned:
Total investment securities		1,267	957
Inventory securities:
Total inventory securities		137	34
Other Assets:
Client Fractional Shares Ownership Assets		925	824
Accounts payable, accrued expenses and other:
Client Fractional Shares Redemption Obligations		925	824
Level I [Member] | Equities [Member]
Securities owned:
Total investment securities		8	11
Inventory securities:
Total inventory securities		19	21
Level I [Member] | Corporate Bonds and Notes [Member]
Inventory securities:
Total inventory securities		0	0
Level I [Member] | Government and Agency Obligations [Member]
Securities owned:
Total investment securities		895	600
Inventory securities:
Total inventory securities		15	4
Level I [Member] | U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations		7,938	9,893
Level I [Member] | Mutual Funds [Member]
Securities owned:
Total investment securities	[1]	364	346
Inventory securities:
Total inventory securities		103	9
Level I [Member] | Municipal Obligations [Member]
Securities owned:
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
Securities owned:
Total investment securities		0	0
Inventory securities:
Total inventory securities		0	0
Level I [Member] | Money Market Funds [Member]
Cash equivalents:
Total cash equivalents		73	76
Level II [Member]
Cash equivalents:
Total cash equivalents		163	179
Investments segregated under federal regulations:
Total investments segregated under federal regulations		1,100	1,500
Securities owned:
Total investment securities		112	112
Inventory securities:
Total inventory securities		77	54
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]
Securities owned:
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		15	5
Level II [Member] | Government and Agency Obligations [Member]
Securities owned:
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]
Securities owned:
Total investment securities	[1]	0	0
Inventory securities:
Total inventory securities		0	0
Level II [Member] | Municipal Obligations [Member]
Securities owned:
Total investment securities		12	12
Inventory securities:
Total inventory securities		50	29
Level II [Member] | Certificates of deposit [Member]
Cash equivalents:
Total cash equivalents		163	179
Investments segregated under federal regulations:
Total investments segregated under federal regulations		1,100	1,500
Securities owned:
Total investment securities		100	100
Inventory securities:
Total inventory securities		12	20
Level II [Member] | Money Market Funds [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
Securities owned:
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]
Securities owned:
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]
Securities owned:
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]
Securities owned:
Total investment securities	[1]	0	0
Inventory securities:
Total inventory securities		0	0
Level III [Member] | Municipal Obligations [Member]
Securities owned:
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
Securities owned:
Total investment securities		0	0
Inventory securities:
Total inventory securities		0	0
Level III [Member] | Money Market Funds [Member]
Cash equivalents:
Total cash equivalents		$ 0	$ 0
[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 t_3

Partnership Capital Subject to Mandatory Redemption - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	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	$ 514	$ 464	$ 514	$ 464	$ 439	$ 335
Interest income from outstanding amount of general partner loan	12	10	$ 36	$ 30
Limited partnership's minimum annual return rate			7.50%	7.50%
Limited partnership's minimum return, value	32	$ 33	$ 98	$ 99
Private Placement [Member]
Partners Capital Account [Line Items]
Limited partnership interests issued	7		7
Two Thousand Twenty One Limited Partnership Offering [Member]
Partners Capital Account [Line Items]
Limited partnership amount registered							$ 700
Limited partnership interests issued	568		568
Remaining limited partnership interests that may be issued	$ 132		$ 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	9 Months Ended
	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Partners' Capital Notes [Abstract]
Partnership loans outstanding		$ 439	$ 335
Partnership loans issued during the period	$ 318	270	318
Repayment of Partnership loans during the period		(195)	(189)
Partnership loans outstanding	$ 464	$ 514	$ 464

Net Capital Requirements - Addi

Net Capital Requirements - Additional Information (Detail) - Subsidiaries [Member] $ in Thousands	Sep. 27, 2024 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	Sep. 27, 2024	Dec. 31, 2023
Subsidiaries [Member]
Regulatory Capital Requirements
Net capital	$ 1,383	$ 981
Net capital in excess of the minimum required	$ 1,320	$ 919
Net capital as a percentage of aggregate debit items	43.60%	31.70%
Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items	12.90%	13%
Canada [Member]
Regulatory Capital Requirements
Regulatory risk-adjusted capital	$ 101	$ 136
Regulatory risk-adjusted capital in excess of the minimum required	$ 94	$ 134

Contingencies - Additional Info

Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Aug. 14, 2024	Sep. 27, 2024
Loss Contingencies [Line Items]
Penalty paid against settlement	$ 50
Loss Contingency, Estimate of Possible Loss		$ 13

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 27, 2024 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		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Net revenue:
Total net revenue	$ 4,123	$ 3,493	$ 11,820	$ 10,152
Pre-variable income:
Total pre-variable income	1,197	861	3,275	2,558
Variable compensation:
Total variable compensation	638	467	1,779	1,353
Income before allocations to partners:
Income before allocations to partners	559	394	1,496	1,205
United States [Member]
Net revenue:
Total net revenue	4,014	3,394	11,495	9,863
Pre-variable income:
Total pre-variable income	1,173	840	3,204	2,496
Variable compensation:
Total variable compensation	625	457	1,742	1,322
Income before allocations to partners:
Income before allocations to partners	548	383	1,462	1,174
Canada [Member]
Net revenue:
Total net revenue	109	99	325	289
Pre-variable income:
Total pre-variable income	24	21	71	62
Variable compensation:
Total variable compensation	13	10	37	31
Income before allocations to partners:
Income before allocations to partners	$ 11	$ 11	$ 34	$ 31

Offsetting Assets and Liabili_3

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Detail) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Offsetting Securities Purchased under Agreements to Resell [Abstract]
Securities purchased under agreements to resell, Gross amounts of recognized assets	$ 736	$ 1,139
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	736	1,139
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	(736)	(1,139)
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	9 Months Ended
	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Non-cash activities:
Issuance of general partnership interests through partnership loans in the period	$ 318	$ 270	$ 318
Repayment of partnership loans through distributions from partnership capital in the period	$ 131	$ 153

Cash Flow Information - Sched_2

Cash Flow Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Balance (Detail) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023	Sep. 29, 2023
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 1,944	$ 1,645	$ 2,427
Cash and investments, at fair value, segregated under federal regulations	13,246	$ 15,565	13,643
Less: Investments segregated under federal regulations	9,038		10,193
Total cash, cash equivalents and restricted cash	$ 6,152		$ 5,877