Jones Financial Companies LLLP (JNFC) 10-Q 13 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 28, 2018	Oct. 26, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 28, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	JNFC
Entity Registrant Name	JONES FINANCIAL COMPANIES LLLP
Entity Central Index Key	815,917
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Limited Partnership Interests Outstanding		886,411

Consolidated Statements of Fina

Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Millions	Sep. 28, 2018	Dec. 31, 2017
ASSETS:
Cash and cash equivalents	$ 876	$ 846
Cash and investments segregated under federal regulations	7,592	10,099
Securities purchased under agreements to resell	1,241	1,164
Receivables from:
Clients	3,456	3,300
Mutual funds, insurance companies and other	538	540
Brokers, dealers and clearing organizations	277	247
Securities owned, at fair value:
Investment securities	270	258
Inventory securities	83	50
Equipment, property and improvements, at cost, net of accumulated depreciation and amortization	549	544
Other assets	119	128
TOTAL ASSETS	15,001	17,176
Payables to:
Clients	10,452	12,810
Brokers, dealers and clearing organizations	106	67
Accrued compensation and employee benefits	1,455	1,339
Accounts payable, accrued expenses and other	225	165
Total liabilities before partnership capital	12,238	14,381
Contingencies (Note 8)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	2,579	2,505
Reserve for anticipated withdrawals	184	290
Total partnership capital subject to mandatory redemption	2,763	2,795
TOTAL LIABILITIES	15,001	17,176
Limited Partnership Capital [Member]
Payables to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	887	890
Subordinated Limited Partnership Capital [Member]
Payables to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	506	463
General Partnership Capital [Member]
Payables to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	$ 1,186	$ 1,152

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018	Sep. 29, 2017
Revenue:
Interest and dividends	$ 92	$ 69	$ 257	$ 192
Other revenue	11	14	34	46
Total revenue	2,221	1,877	6,408	5,595
Interest expense	30	25	92	64
Net revenue	2,191	1,852	6,316	5,531
Operating expenses:
Compensation and benefits	1,536	1,312	4,470	3,918
Occupancy and equipment	114	105	333	310
Communications and data processing	85	80	250	242
Fund sub-adviser fees	35	26	96	70
Advertising	19	17	66	61
Professional and consulting fees	21	17	57	52
Postage and shipping	14	16	43	49
Other operating expenses	94	68	255	196
Total operating expenses	1,918	1,641	5,570	4,898
Income before allocations to partners	273	211	746	633
Allocations to partners:
Limited partners	31	26	86	79
Subordinated limited partners	35	27	96	80
General partners	207	158	564	474
Net Income	$ 0	$ 0	$ 0	$ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding	$ 35.42	$ 29.33	$ 96.60	$ 87.93
Weighted average $1,000 equivalent limited partnership units outstanding	888,481	894,852	890,911	898,374
Asset-based Fee Revenue [Member]
Revenue:
Revenue	$ 1,581	$ 1,316	$ 4,535	$ 3,648
Account and Activity Fee Revenue [Member]
Revenue:
Revenue	169	164	510	509
Total Fee Revenue [Member]
Revenue:
Revenue	1,750	1,480	5,045	4,157
Trade Revenue [Member]
Revenue:
Revenue	$ 368	$ 314	$ 1,072	$ 1,200

Consolidated Statements of In_2

Consolidated Statements of Income (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018	Sep. 29, 2017
Income Statement [Abstract]
Limited partnership interest value	$ 1,000	$ 1,000	$ 1,000	$ 1,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
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	746	633
Depreciation and amortization	69	63
Changes in assets and liabilities:
Investments segregated under federal regulations	709	1,550
Securities purchased under agreements to resell	(77)	(17)
Net payable to clients	(2,514)	(3,059)
Net receivable from brokers, dealers and clearing organizations	9	13
Receivable from mutual funds, insurance companies and other	2	(31)
Securities owned	(45)	(60)
Other assets	9	4
Accrued compensation and employee benefits	116	169
Accounts payable, accrued expenses and other	60	29
Net cash used in operating activities	(916)	(706)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements, net	(74)	(55)
Net cash used in investing activities	(74)	(55)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests	60	73
Redemption of partnership interests	(181)	(182)
Distributions from partnership capital	(657)	(521)
Net cash used in financing activities	(778)	(630)
Net decrease in cash, cash equivalents and restricted cash	(1,768)	(1,391)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	8,537	9,572
End of period	$ 6,769	$ 8,181

Introduction and Basis of Prese

Introduction and Basis of Presentation	9 Months Ended
	Sep. 28, 2018
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"). All material intercompany balances and transactions have been eliminated in consolidation. The financial position of the Partnership’s subsidiaries in Canada as of August 31, 2018 and November 30, 2017 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three and nine month periods ended August 31, 2018 and 2017 are included in the Partnership’s Consolidated Statements of Income 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 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, the distribution of mutual fund shares, and commissions for the purchase or sale of securities and the purchase of insurance products. The Partnership conducts business throughout the U.S. and Canada with its clients, various brokers, dealers, clearing organizations, depositories and banks. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“Trust Co.”), a wholly-owned subsidiary of the Partnership. Olive Street Investment Advisers, LLC, a wholly-owned subsidiary of the Partnership, provides investment advisory services to the sub-advised mutual funds in the Bridge Builder® Trust. Passport Research, Ltd., a wholly-owned subsidiary of the Partnership, provides investment advisory services to the Edward Jones Money Market Fund. The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the U.S. (“GAAP”) 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. The Partnership has evaluated subsequent events through the date these Consolidated Financial Statements were issued and identified no matters requiring disclosure. 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. 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 (the "Annual Report"), except as disclosed in Note 2 herein. The results of operations for the three and nine month periods ended September 28, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018. 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.

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Standards	9 Months Ended
	Sep. 28, 2018
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recently Issued and Adopted Accounting Standards	NOTE 2 – RECENTLY ISSUED AND ADOPTED ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash, a consensus of the FASB Emerging Issues Task Force In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (Topic 842)

Revenue

Revenue	9 Months Ended
	Sep. 28, 2018
Revenue From Contract With Customer [Abstract]
Revenue	NOTE 3 – REVENUE Revenue Recognition. The Partnership's revenue is recognized based on contracts with clients, mutual fund companies, insurance companies and other product providers. As a full-service brokerage firm, Edward Jones provides clients with custodial services, including safekeeping of client funds, collecting and disbursing funds from a client's account, and providing trade confirmations and account statements. The Partnership does not charge a separate fee for these services. Revenue is generally recognized in the same manner for both the U.S. and Canada segments. The Partnership classifies its revenue into the following categories: Asset-based fee revenue – Revenue is derived from fees determined by the underlying value of client assets and includes advisory programs fees, service fees, and other asset-based fee revenue. The primary source of asset-based fee revenue is generated from program fees for investment advisory services provided within the Partnership’s advisory programs, including in the U.S., the Edward Jones Advisory Solutions® program (“Advisory Solutions”) and the Edward Jones Guided Solutions® program ("Guided Solutions") and, in Canada, the Edward Jones Portfolio Program® and the Edward Jones Guided Portfolios® program. Advisory program contracts outline the investment advisory services to be performed for a client under the contract and do not have a definite end date. Program fees are based on the average daily market value of client assets in the program and are charged to clients monthly and collected the following month. The investment advisory services performed in an advisory program contract are a series of distinct services that are substantially the same and have the same pattern of transfer to the client. As a result, the contract has one performance obligation and program fee revenue is recognized over time as clients simultaneously receive and consume the benefit from the investment advisory services performed by the Partnership. The Partnership has selling agreements with mutual fund and insurance companies that allow the Partnership to sell that company's products to clients (see Trade revenue Account and activity fee revenue – Revenue is derived from fees based on the number of accounts or activity and includes shareholder accounting services fees, self-directed individual retirement account ("IRA") fees, and other activity-based fee revenue from clients, mutual fund companies and insurance companies. The Partnership has agreements with mutual fund companies for shareholder accounting services in which the Partnership performs certain transfer agent support services, which may include tracking client holdings, distributing dividends and shareholder information to clients, and responding to client inquiries. Shareholder accounting services fees are based on the number of mutual fund positions held by clients and fees are collected monthly or quarterly based on the agreements, which generally do not have a term. The transfer agent support services performed in a shareholder accounting services contract are a series of distinct services that are substantially the same and have the same pattern of transfer to the client. As a result, the contract has one performance obligation and revenue is recognized over time as the mutual fund company simultaneously receives and consumes the benefit from the services performed by the Partnership. The Partnership also earns retirement account fees for providing reporting services pursuant to the Internal Revenue Code and account maintenance services. Clients are charged an annual fee per account for these services. Revenue is recognized over a one-year period as the services are provided, which are simultaneously received and consumed by the client. Trade revenue – Revenue is derived from fees based on client transactions and includes commissions and principal transactions. The primary source of trade revenue is commissions revenue which consists of charges to clients for the purchase or sale of mutual fund shares and equities and the purchase of insurance products. Principal transactions revenue primarily results from the Partnership’s distribution of and participation in principal trading activities in municipal obligations, over-the-counter corporate obligations, and certificates of deposit. Principal transactions are generally entered into by the Partnership to facilitate a client's buy or sell order for certain fixed income products. Brokerage contracts outline the transaction services to be performed for a client under the contract and do not have a term. The transaction charge to clients varies based on the product and size of the trade. The Partnership also has contracts with various companies which allow the Partnership to sell that company's products to clients and receive a certain commission. Trade revenue is recognized at a point in time when the transaction is placed, or trade date. On trade date the client obtains control through a right to either own a security for a purchase or receive payment for a sale. Transaction charges are received no later than settlement date. Interest and dividends revenue – Interest revenue is earned on client margin (loan) account balances. In addition, interest revenue is earned on cash and cash equivalents, cash and investments segregated under federal regulations, securities purchased under agreements to resell and Partnership loans, none of which is based on revenue contracts with clients. Other forms of revenue are recorded on an accrual basis. Activity or transaction-based revenue is recorded at a point in time when the transaction occurs and asset-based revenue is recorded over time as the services are provided. As of September 28, 2018 and December 31, 2017, $400 and $346, respectively, of the receivable from clients balance and $268 and $279, respectively, of the receivable from mutual funds, insurance companies and other balance related to revenue contracts with customers. The following table shows the Partnership's disaggregated revenue information. See Note 9 for segment information. Three Months Ended September 28, 2018 Three Months Ended September 29, 2017 U.S. Canada Total U.S. Canada Total Revenue Fee revenue: Asset-based fee revenue: Advisory programs fees $ 1,086 $ 16 $ 1,102 $ 878 $ 11 $ 889 Service fees 314 22 336 294 20 314 Other asset-based fees 143 — 143 113 — 113 Total asset-based fee revenue 1,543 38 1,581 1,285 31 1,316 Account and activity fee revenue: Shareholder accounting services fees 107 — 107 102 — 102 Other account and activity fee revenue 59 3 62 59 3 62 Total account and activity fee revenue 166 3 169 161 3 164 Total fee revenue 1,709 41 1,750 1,446 34 1,480 Trade revenue: Commissions 325 11 336 271 12 283 Principal transactions 30 2 32 30 1 31 Total trade revenue 355 13 368 301 13 314 Net interest and dividends revenue 60 2 62 43 1 44 Other revenue 7 4 11 15 (1 ) 14 Net revenue $ 2,131 $ 60 $ 2,191 $ 1,805 $ 47 $ 1,852 Nine Months Ended September 28, 2018 Nine Months Ended September 29, 2017 U.S. Canada Total U.S. Canada Total Revenue Fee revenue: Asset-based fee revenue: Advisory programs fees $ 3,093 $ 43 $ 3,136 $ 2,350 $ 29 $ 2,379 Service fees 922 66 988 881 58 939 Other asset-based fees 411 — 411 330 — 330 Total asset-based fee revenue 4,426 109 4,535 3,561 87 3,648 Account and activity fee revenue: Shareholder accounting services fees 325 — 325 312 — 312 Other account and activity fee revenue 175 10 185 188 9 197 Total account and activity fee revenue 500 10 510 500 9 509 Total fee revenue 4,926 119 5,045 4,061 96 4,157 Trade revenue: Commissions 933 37 970 1,050 39 1,089 Principal transactions 98 4 102 108 3 111 Total trade revenue 1,031 41 1,072 1,158 42 1,200 Net interest and dividends revenue 159 6 165 125 3 128 Other revenue 25 9 34 43 3 46 Net revenue $ 6,141 $ 175 $ 6,316 $ 5,387 $ 144 $ 5,531

Fair Value

Fair Value	9 Months Ended
	Sep. 28, 2018
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, 2017. The Partnership did not have any assets or liabilities categorized as Level III during the nine and twelve month periods ended September 28, 2018 and December 31, 2017, respectively. In addition, there were no transfers into or out of Levels I, II or III during these periods. The following tables show the Partnership’s financial assets measured at fair value: Financial Assets at Fair Value as of September 28, 2018 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 277 $ — $ 277 Investments segregated under federal regulations: U.S. treasuries $ 1,495 $ — $ — $ 1,495 Certificates of deposit — 200 — 200 Total investments segregated under federal regulations $ 1,495 $ 200 $ — $ 1,695 Securities owned: Investment securities: Mutual funds (1) $ 264 $ — $ — $ 264 Government and agency obligations 3 — — 3 Equities 2 — — 2 Corporate bonds and notes — 1 — 1 Total investment securities $ 269 $ 1 $ — $ 270 Inventory securities: State and municipal obligations $ — $ 30 $ — $ 30 Mutual funds 28 — — 28 Equities 16 — — 16 Corporate bonds and notes — 6 — 6 Certificates of deposit — 3 — 3 Total inventory securities $ 44 $ 39 $ — $ 83 (1) The mutual funds balance consists primarily of securities held to economically hedge future liabilities related to the non-qualified deferred compensation plan. Financial Assets at Fair Value as of December 31, 2017 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 275 $ — $ 275 Investments segregated under federal regulations: U.S. treasuries $ 2,399 $ — $ — $ 2,399 Securities owned: Investment securities: Mutual funds (1) $ 252 $ — $ — $ 252 Government and agency obligations 3 — — 3 Equities 2 — — 2 Corporate bonds and notes — 1 — 1 Total investment securities $ 257 $ 1 $ — $ 258 Inventory securities: State and municipal obligations $ — $ 24 $ — $ 24 Equities 16 — — 16 Mutual funds 4 — — 4 Certificates of deposit — 4 — 4 Corporate bonds and notes — 2 — 2 Total inventory securities $ 20 $ 30 $ — $ 50

Lines of Credit

Lines of Credit	9 Months Ended
	Sep. 28, 2018
Text Block [Abstract]
Lines of Credit	NOTE 5 – LINES OF CREDIT The following table shows the composition of the Partnership’s aggregate bank lines of credit in place as of: September 28, December 31, 2018 2017 2018 Credit Facility $ 500 $ - 2013 Credit Facility - 400 Uncommitted secured credit facilities 290 290 Total bank lines of credit $ 790 $ 690 In November 2013, the Partnership entered into a $400 committed unsecured revolving line of credit ("2013 Credit Facility"), which had a November 2018 expiration date. In September 2018, the Partnership entered into a new $500 committed revolving line of credit ("2018 Credit Facility"), which replaced the 2013 Credit Facility. In accordance with the terms of the 2018 Credit Facility, the Partnership is required to maintain a leverage ratio of no more than 35% and minimum Partnership capital, net of reserve for anticipated withdrawals and Partnership loans, of at least $1,884. In addition, Edward Jones is required to maintain a minimum tangible net worth of at least $1,344 and minimum regulatory capital of at least 6% of aggregate debit items as calculated under the alternative method. The 2018 Credit Facility is intended to provide short-term liquidity to the Partnership should the need arise. As of September 28, 2018, the Partnership was in compliance with all covenants related to the 2018 Credit Facility. There were no amounts outstanding on the 2018 Credit Facility or the uncommitted lines of credit as of September 28, 2018, and the 2013 Credit Facility or the uncommitted lines of credit as of December 31, 2017. In addition, the Partnership did not have any draws against these lines of credit during the nine month period ended September 28, 2018. For the purpose of testing draw procedures, the Partnership made overnight draws on the uncommitted facility in April and September 2018.

Partnership Capital

Partnership Capital	9 Months Ended
	Sep. 28, 2018
Partners Capital Notes [Abstract]
Partnership Capital	NOTE 6 – PARTNERSHIP CAPITAL The Partnership makes loans available to those general partners and, in limited circumstances, subordinated limited partners (in each case, other than members of the Executive Committee, as defined in the Partnership’s Twentieth Amended and Restated Agreement of Registered Limited Liability Limited Partnership, dated August 6, 2018 (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 he or she still has an outstanding Partnership loan. It is anticipated that, of the future general and subordinated limited partnership capital contributions (in each case, other than for Executive Committee 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 interest rate defined in the loan documents. 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 28, 2018 and December 31, 2017, the outstanding amount of Partnership loans was $349 and $297, respectively. Interest income earned from these loans, which is included in interest and dividends in the Consolidated Statements of Income, was $5 and $13 The following table shows the roll forward of outstanding Partnership loans for: Nine Months Ended Sept 28, Sept 29, 2018 2017 Partnership loans outstanding at beginning of period $ 297 $ 266 Partnership loans issued during the period 170 142 Repayment of Partnership loans during the period (118 ) (110 ) Total Partnership loans outstanding $ 349 $ 298 The minimum 7.5% annual payment on the face amount of limited partnership capital was $17 and $50 for the three and nine month periods ended September 28, 2018, respectively, and $17 and $51 for the three and nine month periods ended September 29, 2017, 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 January 17, 2014, to register $350 of Interests to be issued pursuant to the Partnership's 2014 Employee Limited Partnership Interest Purchase Plan (the "2014 Plan"). The Partnership previously issued approximately $298 of Interests under the 2014 Plan. In the third quarter of 2018, the Partnership terminated the 2014 Plan and deregistered all remaining unsold Interests. The Partnership filed a Registration Statement on Form S-8 with the SEC on January 12, 2018, to register $450 of Interests to be issued pursuant to the Partnership's 2018 Employee Limited Partnership Interest Purchase Plan (the "2018 Plan"). The Partnership's initial offering under the 2018 Plan is expected to close early in 2019.

Net Capital Requirements

Net Capital Requirements	9 Months Ended
	Sep. 28, 2018
Brokers And Dealers [Abstract]
Net Capital Requirements	NOTE 7 – 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 Exchange Act and capital compliance rules of the Financial Industry Regulatory Authority (“FINRA”) Rule 4110. 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. The Partnership’s Canada broker-dealer subsidiary is a registered broker-dealer regulated by the Investment Industry Regulatory Organization of Canada (“IIROC”). Under the regulations prescribed by IIROC, the Partnership’s Canada broker-dealer subsidiary is required to maintain minimum levels of risk-adjusted capital, which are dependent on the nature of the Partnership’s Canada broker-dealer subsidiary’s assets and operations. The following table shows the Partnership’s net capital figures for its U.S. and Canada broker-dealer subsidiaries as of: September 28, December 31, 2018 2017 U.S.: Net capital $ 1,061 $ 1,107 Net capital in excess of the minimum required $ 1,001 $ 1,049 Net capital as a percentage of aggregate debit items 35.2 % 38.1 % Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items 18.6 % 21.6 % Canada: Regulatory risk-adjusted capital $ 40 $ 50 Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC $ 35 $ 42 Net capital and the related capital percentages may fluctuate on a daily basis. In addition, Trust Co. was in compliance with its regulatory capital requirements as of September 28, 2018 and December 31, 2017.

Contingencies

Contingencies	9 Months Ended
	Sep. 28, 2018
Commitments And Contingencies Disclosure [Abstract]
Contingencies	NOTE 8 – 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. In addition, 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 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 $0 to $9 as of September 28, 2018. This range of reasonably possible loss does not necessarily represent the Partnership's maximum loss exposure as the Partnership was not able to estimate a range of reasonably possible loss for all matters. Further, the matters underlying any disclosed estimated range will change from time to time, and actual results may vary significantly. While the outcome of these matters is inherently uncertain, based on information currently available, the Partnership believes that its established liabilities at September 28, 2018 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. 28, 2018
Segment Reporting [Abstract]
Segment Information	NOTE 9 – 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 views the segments in order to assess performance. The following table shows financial information for the Partnership’s reportable segments: Three Months Ended Nine Months Ended Sept 28, 2018 Sept 29, 2017 Sept 28, 2018 Sept 29, 2017 Net revenue: U.S. $ 2,131 $ 1,805 $ 6,141 $ 5,387 Canada 60 47 175 144 Total net revenue $ 2,191 $ 1,852 $ 6,316 $ 5,531 Pre-variable income: U.S. $ 534 $ 427 $ 1,487 $ 1,225 Canada 5 (2 ) 10 (1 ) Total pre-variable income 539 425 1,497 1,224 Variable compensation: U.S. 261 208 734 577 Canada 5 6 17 14 Total variable compensation 266 214 751 591 Income (loss) before allocations to partners: U.S. 273 219 753 648 Canada — (8 ) (7 ) (15 ) Total income before allocations to partners $ 273 $ 211 $ 746 $ 633 The Partnership derived 14%

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	9 Months Ended
	Sep. 28, 2018
Offsetting [Abstract]
Offsetting Assets and Liabilities	NOTE 10 – 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 amounts of Gross amounts offset in the Consolidated Statements Net amounts presented Consolidated Statements Gross amounts not offset in the Consolidated Financial Condition recognized assets Financial Condition Financial Condition Financial instruments Securities collateral (1) Net amount September 28, 2018 $ 1,241 — 1,241 — (1,241 ) $ — December 31, 2017 $ 1,164 — 1,164 — (1,164 ) $ — (1) Actual collateral was 102% of the related assets in U.S. agreements and 100% in Canada agreements for all periods presented.

Cash Flow Information

Cash Flow Information	9 Months Ended
	Sep. 28, 2018
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	NOTE 11 – CASH FLOW INFORMATION The following table shows supplemental cash flow information for: Nine Months Ended Sept 28, 2018 Sept 29, 2017 Cash paid for interest $ 92 $ 63 Cash paid for taxes $ 8 $ 8 Non-cash activities: Issuance of general partnership interests through partnership loans in current period $ 170 $ 142 Repayment of partnership loans through distributions from partnership capital in current period $ 118 $ 110 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 28, 2018 December 31, 2017 September 29, 2017 December 31, 2016 Cash and cash equivalents $ 876 $ 846 $ 995 $ 1,047 Cash and investments segregated under federal regulations 7,592 10,099 9,791 12,680 Less: Investments segregated under federal regulations 1,699 2,408 2,605 4,155 Total cash, cash equivalents and restricted cash $ 6,769 $ 8,537 $ 8,181 $ 9,572 Restricted cash represents cash segregated in special reserve bank accounts for the benefit of U.S. clients pursuant to the Customer Protection Rule 15c3-3 under the Exchange Act.

Introduction and Basis of Pre_2

Introduction and Basis of Presentation (Policies)	9 Months Ended
	Sep. 28, 2018
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"). All material intercompany balances and transactions have been eliminated in consolidation. The financial position of the Partnership’s subsidiaries in Canada as of August 31, 2018 and November 30, 2017 are included in the Partnership’s Consolidated Statements of Financial Condition and the results for the three and nine month periods ended August 31, 2018 and 2017 are included in the Partnership’s Consolidated Statements of Income 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 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, the distribution of mutual fund shares, and commissions for the purchase or sale of securities and the purchase of insurance products. The Partnership conducts business throughout the U.S. and Canada with its clients, various brokers, dealers, clearing organizations, depositories and banks. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“Trust Co.”), a wholly-owned subsidiary of the Partnership. Olive Street Investment Advisers, LLC, a wholly-owned subsidiary of the Partnership, provides investment advisory services to the sub-advised mutual funds in the Bridge Builder® Trust. Passport Research, Ltd., a wholly-owned subsidiary of the Partnership, provides investment advisory services to the Edward Jones Money Market Fund. The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the U.S. (“GAAP”) 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. The Partnership has evaluated subsequent events through the date these Consolidated Financial Statements were issued and identified no matters requiring disclosure. 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. 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 (the "Annual Report"), except as disclosed in Note 2 herein. The results of operations for the three and nine month periods ended September 28, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018. 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.
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, 2017.
Contingencies (ASC No.450)	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

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 28, 2018
Revenue From Contract With Customer [Abstract]
Schedule of Partnership's Disaggregated Revenue	The following table shows the Partnership's disaggregated revenue information. See Note 9 for segment information. Three Months Ended September 28, 2018 Three Months Ended September 29, 2017 U.S. Canada Total U.S. Canada Total Revenue Fee revenue: Asset-based fee revenue: Advisory programs fees $ 1,086 $ 16 $ 1,102 $ 878 $ 11 $ 889 Service fees 314 22 336 294 20 314 Other asset-based fees 143 — 143 113 — 113 Total asset-based fee revenue 1,543 38 1,581 1,285 31 1,316 Account and activity fee revenue: Shareholder accounting services fees 107 — 107 102 — 102 Other account and activity fee revenue 59 3 62 59 3 62 Total account and activity fee revenue 166 3 169 161 3 164 Total fee revenue 1,709 41 1,750 1,446 34 1,480 Trade revenue: Commissions 325 11 336 271 12 283 Principal transactions 30 2 32 30 1 31 Total trade revenue 355 13 368 301 13 314 Net interest and dividends revenue 60 2 62 43 1 44 Other revenue 7 4 11 15 (1 ) 14 Net revenue $ 2,131 $ 60 $ 2,191 $ 1,805 $ 47 $ 1,852 Nine Months Ended September 28, 2018 Nine Months Ended September 29, 2017 U.S. Canada Total U.S. Canada Total Revenue Fee revenue: Asset-based fee revenue: Advisory programs fees $ 3,093 $ 43 $ 3,136 $ 2,350 $ 29 $ 2,379 Service fees 922 66 988 881 58 939 Other asset-based fees 411 — 411 330 — 330 Total asset-based fee revenue 4,426 109 4,535 3,561 87 3,648 Account and activity fee revenue: Shareholder accounting services fees 325 — 325 312 — 312 Other account and activity fee revenue 175 10 185 188 9 197 Total account and activity fee revenue 500 10 510 500 9 509 Total fee revenue 4,926 119 5,045 4,061 96 4,157 Trade revenue: Commissions 933 37 970 1,050 39 1,089 Principal transactions 98 4 102 108 3 111 Total trade revenue 1,031 41 1,072 1,158 42 1,200 Net interest and dividends revenue 159 6 165 125 3 128 Other revenue 25 9 34 43 3 46 Net revenue $ 6,141 $ 175 $ 6,316 $ 5,387 $ 144 $ 5,531

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 28, 2018
Fair Value Disclosures [Abstract]
Partnership's Financial Assets at Fair Value	The following tables show the Partnership’s financial assets measured at fair value: Financial Assets at Fair Value as of September 28, 2018 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 277 $ — $ 277 Investments segregated under federal regulations: U.S. treasuries $ 1,495 $ — $ — $ 1,495 Certificates of deposit — 200 — 200 Total investments segregated under federal regulations $ 1,495 $ 200 $ — $ 1,695 Securities owned: Investment securities: Mutual funds (1) $ 264 $ — $ — $ 264 Government and agency obligations 3 — — 3 Equities 2 — — 2 Corporate bonds and notes — 1 — 1 Total investment securities $ 269 $ 1 $ — $ 270 Inventory securities: State and municipal obligations $ — $ 30 $ — $ 30 Mutual funds 28 — — 28 Equities 16 — — 16 Corporate bonds and notes — 6 — 6 Certificates of deposit — 3 — 3 Total inventory securities $ 44 $ 39 $ — $ 83 (1) The mutual funds balance consists primarily of securities held to economically hedge future liabilities related to the non-qualified deferred compensation plan. Financial Assets at Fair Value as of December 31, 2017 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 275 $ — $ 275 Investments segregated under federal regulations: U.S. treasuries $ 2,399 $ — $ — $ 2,399 Securities owned: Investment securities: Mutual funds (1) $ 252 $ — $ — $ 252 Government and agency obligations 3 — — 3 Equities 2 — — 2 Corporate bonds and notes — 1 — 1 Total investment securities $ 257 $ 1 $ — $ 258 Inventory securities: State and municipal obligations $ — $ 24 $ — $ 24 Equities 16 — — 16 Mutual funds 4 — — 4 Certificates of deposit — 4 — 4 Corporate bonds and notes — 2 — 2 Total inventory securities $ 20 $ 30 $ — $ 50

Lines of Credit (Tables)

Lines of Credit (Tables)	9 Months Ended
	Sep. 28, 2018
Text Block [Abstract]
Composition of Partnership's Aggregate Bank Lines of Credit	The following table shows the composition of the Partnership’s aggregate bank lines of credit in place as of: September 28, December 31, 2018 2017 2018 Credit Facility $ 500 $ - 2013 Credit Facility - 400 Uncommitted secured credit facilities 290 290 Total bank lines of credit $ 790 $ 690

Partnership Capital (Tables)

Partnership Capital (Tables)	9 Months Ended
	Sep. 28, 2018
Other Liabilities Disclosure [Abstract]
Roll Forward of Outstanding Partnership Loans	The following table shows the roll forward of outstanding Partnership loans for: Nine Months Ended Sept 28, Sept 29, 2018 2017 Partnership loans outstanding at beginning of period $ 297 $ 266 Partnership loans issued during the period 170 142 Repayment of Partnership loans during the period (118 ) (110 ) Total Partnership loans outstanding $ 349 $ 298

Net Capital Requirements (Table

Net Capital Requirements (Tables)	9 Months Ended
	Sep. 28, 2018
Brokers And Dealers [Abstract]
Partnership's Net Capital Figures for U.S. and Canada Broker-Dealer Subsidiaries	The following table shows the Partnership’s net capital figures for its U.S. and Canada broker-dealer subsidiaries as of: September 28, December 31, 2018 2017 U.S.: Net capital $ 1,061 $ 1,107 Net capital in excess of the minimum required $ 1,001 $ 1,049 Net capital as a percentage of aggregate debit items 35.2 % 38.1 % Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items 18.6 % 21.6 % Canada: Regulatory risk-adjusted capital $ 40 $ 50 Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC $ 35 $ 42

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 28, 2018
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 Sept 28, 2018 Sept 29, 2017 Sept 28, 2018 Sept 29, 2017 Net revenue: U.S. $ 2,131 $ 1,805 $ 6,141 $ 5,387 Canada 60 47 175 144 Total net revenue $ 2,191 $ 1,852 $ 6,316 $ 5,531 Pre-variable income: U.S. $ 534 $ 427 $ 1,487 $ 1,225 Canada 5 (2 ) 10 (1 ) Total pre-variable income 539 425 1,497 1,224 Variable compensation: U.S. 261 208 734 577 Canada 5 6 17 14 Total variable compensation 266 214 751 591 Income (loss) before allocations to partners: U.S. 273 219 753 648 Canada — (8 ) (7 ) (15 ) Total income before allocations to partners $ 273 $ 211 $ 746 $ 633

Offsetting Assets and Liabili_2

Offsetting Assets and Liabilities (Tables)	9 Months Ended
	Sep. 28, 2018
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 amounts of Gross amounts offset in the Consolidated Statements Net amounts presented Consolidated Statements Gross amounts not offset in the Consolidated Financial Condition recognized assets Financial Condition Financial Condition Financial instruments Securities collateral (1) Net amount September 28, 2018 $ 1,241 — 1,241 — (1,241 ) $ — December 31, 2017 $ 1,164 — 1,164 — (1,164 ) $ — (1) Actual collateral was 102% of the related assets in U.S. agreements and 100% in Canada agreements for all periods presented.

Cash Flow Information (Tables)

Cash Flow Information (Tables)	9 Months Ended
	Sep. 28, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table shows supplemental cash flow information for: Nine Months Ended Sept 28, 2018 Sept 29, 2017 Cash paid for interest $ 92 $ 63 Cash paid for taxes $ 8 $ 8 Non-cash activities: Issuance of general partnership interests through partnership loans in current period $ 170 $ 142 Repayment of partnership loans through distributions from partnership capital in current period $ 118 $ 110
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 28, 2018 December 31, 2017 September 29, 2017 December 31, 2016 Cash and cash equivalents $ 876 $ 846 $ 995 $ 1,047 Cash and investments segregated under federal regulations 7,592 10,099 9,791 12,680 Less: Investments segregated under federal regulations 1,699 2,408 2,605 4,155 Total cash, cash equivalents and restricted cash $ 6,769 $ 8,537 $ 8,181 $ 9,572

Recently Issued and Adopted A_2

Recently Issued and Adopted Accounting Standards - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 28, 2018	Sep. 28, 2018	Jan. 01, 2018	Dec. 31, 2017	Sep. 29, 2017	Dec. 31, 2016
ASU 2014-09 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Impact to partnership capital			$ 0
ASU 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenue	$ 0	$ 0
Impact to consolidated statements of financial condition	0	0
ASU 2016-18 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Restricted cash	5,893,000,000	5,893,000,000		$ 7,691,000,000	$ 7,186,000,000	$ 8,525,000,000
ASU 2016-02 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Impact to partnership capital	$ 0	0
ASU 2016-02 [Member] | Minimum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Expected lease asset and lease liability		725,000,000
ASU 2016-02 [Member] | Maximum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Expected lease asset and lease liability		$ 825,000,000

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2018	Dec. 31, 2017
Disaggregation Of Revenue [Line Items]
Receivable from clients balance	$ 3,456	$ 3,300
Receivable from mutual funds, insurance companies and other balance	538	540
Revenue from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Receivable from clients balance	400	346
Receivable from mutual funds, insurance companies and other balance	$ 268	$ 279
Account and Activity Fee Revenue [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue recognized period	one-year

Revenue - Schedule of Partnersh

Revenue - Schedule of Partnership's Disaggregated Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018	Sep. 29, 2017
Disaggregation Of Revenue [Line Items]
Net interest and dividends revenue	$ 62	$ 44	$ 165	$ 128
Other revenue	11	14	34	46
Net revenue	2,191	1,852	6,316	5,531
United States [Member]
Disaggregation Of Revenue [Line Items]
Net interest and dividends revenue	60	43	159	125
Other revenue	7	15	25	43
Net revenue	2,131	1,805	6,141	5,387
Canada [Member]
Disaggregation Of Revenue [Line Items]
Net interest and dividends revenue	2	1	6	3
Other revenue	4	(1)	9	3
Net revenue	60	47	175	144
Asset-based Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,581	1,316	4,535	3,648
Asset-based Fee Revenue [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,102	889	3,136	2,379
Asset-based Fee Revenue [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	336	314	988	939
Asset-based Fee Revenue [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	143	113	411	330
Asset-based Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,543	1,285	4,426	3,561
Asset-based Fee Revenue [Member] | United States [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,086	878	3,093	2,350
Asset-based Fee Revenue [Member] | United States [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	314	294	922	881
Asset-based Fee Revenue [Member] | United States [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	143	113	411	330
Asset-based Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	38	31	109	87
Asset-based Fee Revenue [Member] | Canada [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	16	11	43	29
Asset-based Fee Revenue [Member] | Canada [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	22	20	66	58
Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	169	164	510	509
Account and Activity Fee Revenue [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	107	102	325	312
Account and Activity Fee Revenue [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	62	62	185	197
Account and Activity Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	166	161	500	500
Account and Activity Fee Revenue [Member] | United States [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	107	102	325	312
Account and Activity Fee Revenue [Member] | United States [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	59	59	175	188
Account and Activity Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3	3	10	9
Account and Activity Fee Revenue [Member] | Canada [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3	3	10	9
Total Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,750	1,480	5,045	4,157
Total Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	1,709	1,446	4,926	4,061
Total Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	41	34	119	96
Trade Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	368	314	1,072	1,200
Trade Revenue [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	336	283	970	1,089
Trade Revenue [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	32	31	102	111
Trade Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	355	301	1,031	1,158
Trade Revenue [Member] | United States [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	325	271	933	1,050
Trade Revenue [Member] | United States [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	30	30	98	108
Trade Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	13	13	41	42
Trade Revenue [Member] | Canada [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	11	12	37	39
Trade Revenue [Member] | Canada [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 2	$ 1	$ 4	$ 3

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 28, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair value of level III, assets	$ 0	$ 0
Fair value of level III, liabilities	0	0
Transfers between levels I, II and III	$ 0	$ 0

Fair Value - Partnership's Fina

Fair Value - Partnership's Financial Assets at Fair Value (Detail) - USD ($) $ in Millions	Sep. 28, 2018	Dec. 31, 2017
Investments segregated under federal regulations:
Total investments segregated under federal regulations	$ 1,695
Investment securities:
Total investment securities	270	$ 258
Inventory securities:
Total inventory securities	83	50
Equities [Member]
Investment securities:
Total investment securities	2	2
Inventory securities:
Total inventory securities	16	16
Corporate Bonds and Notes [Member]
Investment securities:
Total investment securities	1	1
Inventory securities:
Total inventory securities	6	2
Government and Agency Obligations [Member]
Investment securities:
Total investment securities	3	3
U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	1,495	2,399
Mutual Funds [Member]
Investment securities:
Total investment securities	264	252
Inventory securities:
Total inventory securities	28	4
State and Municipal Obligations [Member]
Inventory securities:
Total inventory securities	30	24
Certificates of Deposit [Member]
Cash equivalents:
Cash and cash equivalents	277	275
Investments segregated under federal regulations:
Total investments segregated under federal regulations	200
Inventory securities:
Total inventory securities	3	4
Level I [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	1,495
Investment securities:
Total investment securities	269	257
Inventory securities:
Total inventory securities	44	20
Level I [Member] | Equities [Member]
Investment securities:
Total investment securities	2	2
Inventory securities:
Total inventory securities	16	16
Level I [Member] | Government and Agency Obligations [Member]
Investment securities:
Total investment securities	3	3
Level I [Member] | U.S. Treasuries [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	1,495	2,399
Level I [Member] | Mutual Funds [Member]
Investment securities:
Total investment securities	264	252
Inventory securities:
Total inventory securities	28	4
Level II [Member]
Investments segregated under federal regulations:
Total investments segregated under federal regulations	200
Investment securities:
Total investment securities	1	1
Inventory securities:
Total inventory securities	39	30
Level II [Member] | Corporate Bonds and Notes [Member]
Investment securities:
Total investment securities	1	1
Inventory securities:
Total inventory securities	6	2
Level II [Member] | State and Municipal Obligations [Member]
Inventory securities:
Total inventory securities	30	24
Level II [Member] | Certificates of Deposit [Member]
Cash equivalents:
Cash and cash equivalents	277	275
Investments segregated under federal regulations:
Total investments segregated under federal regulations	200
Inventory securities:
Total inventory securities	$ 3	$ 4

Lines of Credit - Composition o

Lines of Credit - Composition of Partnership's Aggregate Bank Lines of Credit (Detail) - USD ($)	Sep. 28, 2018	Dec. 31, 2017	Nov. 29, 2013
Line of Credit Facility [Line Items]
Line of credit facility	$ 790,000,000	$ 690,000,000
2018 Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility	500,000,000
2013 Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility		400,000,000	$ 400,000,000
Uncommitted Secured Credit Facilities [Member]
Line of Credit Facility [Line Items]
Line of credit facility	$ 290,000,000	$ 290,000,000

Lines of Credit - Additional In

Lines of Credit - Additional Information (Detail) - USD ($)	1 Months Ended	9 Months Ended
	Sep. 28, 2018	Sep. 28, 2018	Dec. 31, 2017	Nov. 29, 2013
Line of Credit Facility [Line Items]
Line of credit facility	$ 790,000,000	$ 790,000,000	$ 690,000,000
2013 Credit Facility [Member]
Line of Credit Facility [Line Items]
Expiry of unsecured revolving line of credit, month and year		2018-11
Line of credit facility			400,000,000	$ 400,000,000
Amount outstanding under credit facility			0
Partnership draws against lines of credit		$ 0
2018 Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility	$ 500,000,000	500,000,000
Maximum leverage ratio required to be maintained by partnership	35.00%
Required minimum partnership capital, net of reserve for anticipated withdrawals and partnership loans	$ 1,884,000,000	1,884,000,000
Amount outstanding under credit facility	0	0
Partnership draws against lines of credit		0
2018 Credit Facility [Member] | Edward D. Jones & Co., L. P [Member]
Line of Credit Facility [Line Items]
Minimum tangible net worth	$ 1,344,000,000	1,344,000,000
Minimum regulatory capital percentage of debit items	6.00%
Uncommitted Secured Credit Facilities [Member]
Line of Credit Facility [Line Items]
Line of credit facility	$ 290,000,000	290,000,000	290,000,000
Amount outstanding under credit facility	$ 0	0	$ 0
Partnership draws against lines of credit		$ 0

Partnership Capital - Additiona

Partnership Capital - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018	Sep. 29, 2017	Jan. 12, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 17, 2014
Partners Capital Account [Line Items]
Period of loans made by Partnership to general partners			1 year
Outstanding amount of partner loans financed through the Partnership	$ 349	$ 298	$ 349	$ 298		$ 297	$ 266
Interest income from outstanding amount of general partner loan	$ 5	$ 3	$ 13	$ 9
Limited partnership's minimum annual payment rate	7.50%	7.50%	7.50%	7.50%
Limited partnership's minimum return, value	$ 17	$ 17	$ 50	$ 51
2014 Limited Partnership Offering [Member]
Partners Capital Account [Line Items]
Limited partnership amount registered								$ 350
Limited partnership interests issued	$ 298		$ 298
2018 Limited Partnership Offering [Member]
Partners Capital Account [Line Items]
Limited partnership amount registered					$ 450

Partnership Capital - Roll Forw

Partnership Capital - Roll Forward of Outstanding Partnership Loans (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Partners Capital Notes [Abstract]
Partnership loans outstanding at beginning of period	$ 297	$ 266
Partnership loans issued during the period	170	142
Repayment of Partnership loans during the period	(118)	(110)
Partnership loans outstanding at end of period	$ 349	$ 298

Net Capital Requirements - Addi

Net Capital Requirements - Additional Information (Detail)	9 Months Ended
	Sep. 28, 2018USD ($)
Net Capital Requirements [Abstract]
Percentage of aggregate debit items arising from customer transactions to maintain minimum net capital requirements	2.00%
Minimum net capital requirements	$ 250,000

Net Capital Requirements - Part

Net Capital Requirements - Partnership's Net Capital Figures for U.S. and Canada Broker-Dealer Subsidiaries (Detail) - USD ($) $ in Millions	Sep. 28, 2018	Dec. 31, 2017
United States [Member]
Regulatory Capital Requirements
Net capital	$ 1,061	$ 1,107
Net capital in excess of the minimum required	$ 1,001	$ 1,049
Net capital as a percentage of aggregate debit items	35.20%	38.10%
Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items	18.60%	21.60%
Canada [Member]
Regulatory Capital Requirements
Regulatory risk-adjusted capital	$ 40	$ 50
Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC	$ 35	$ 42

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	Sep. 28, 2018USD ($)
Minimum [Member]
Loss Contingencies [Line Items]
Current estimated possible loss	$ 0
Maximum [Member]
Loss Contingencies [Line Items]
Current estimated possible loss	$ 9

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018	Sep. 29, 2017
Segment Reporting [Abstract]
Number of operating segments			2
Number of reportable segments			2
Partnership's total revenue derived from one mutual fund complex	14.00%	14.00%	14.00%	16.00%

Segment Information - Financial

Segment Information - Financial Information for Partnership's Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018	Sep. 29, 2017
Net revenue:
Total net revenue	$ 2,191	$ 1,852	$ 6,316	$ 5,531
Pre-variable income:
Total pre-variable income	539	425	1,497	1,224
Variable compensation:
Total variable compensation	266	214	751	591
Income (loss) before allocations to partners:
Income before allocations to partners	273	211	746	633
United States [Member]
Net revenue:
Total net revenue	2,131	1,805	6,141	5,387
Pre-variable income:
Total pre-variable income	534	427	1,487	1,225
Variable compensation:
Total variable compensation	261	208	734	577
Income (loss) before allocations to partners:
Income before allocations to partners	273	219	753	648
Canada [Member]
Net revenue:
Total net revenue	60	47	175	144
Pre-variable income:
Total pre-variable income	5	(2)	10	(1)
Variable compensation:
Total variable compensation	5	6	17	14
Income (loss) before allocations to partners:
Income before allocations to partners	$ 0	$ (8)	$ (7)	$ (15)

Offsetting Assets and Liabili_3

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Detail) - USD ($) $ in Millions	Sep. 28, 2018	Dec. 31, 2017
Offsetting Securities Purchased Under Agreements To Resell [Abstract]
Securities purchased under agreements to resell, Gross amounts of recognized assets	$ 1,241	$ 1,164
Securities purchased under agreements to resell, Gross amounts offset in the Consolidated Statements of Financial Condition	0	0
Securities purchased under agreements to resell, Net amounts presented in the Consolidated Statements of Financial Condition	1,241	1,164
Securities purchased under agreements to resell, Gross amounts not offset in the Consolidated Statements of Financial Condition, Financial instruments	0	0
Securities purchased under agreements to resell, Gross amounts not offset in the Consolidated Statements of Financial Condition, Securities collateral	(1,241)	(1,164)
Securities purchased under agreements to resell, Net amount	$ 0	$ 0

Offsetting Assets and Liabili_4

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Parenthetical) (Detail)	Sep. 28, 2018	Dec. 31, 2017
United States [Member]
Offsetting Assets And Liabilities [Line Items]
Actual collateral of related assets	102.00%	102.00%
Canada [Member]
Offsetting Assets And Liabilities [Line Items]
Actual collateral of related assets	100.00%	100.00%

Cash Flow Information - Schedul

Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 92	$ 63
Cash paid for taxes	8	8
Non-cash activities:
Issuance of general partnership interests through partnership loans in current period	170	142
Repayment of partnership loans through distributions from partnership capital in current period	$ 118	$ 110

Cash Flow Information - Sched_2

Cash Flow Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Balance (Detail) - USD ($) $ in Millions	Sep. 28, 2018	Dec. 31, 2017	Sep. 29, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 876	$ 846	$ 995	$ 1,047
Cash and investments segregated under federal regulations	7,592	10,099	9,791	12,680
Less: Investments segregated under federal regulations	1,699	2,408	2,605	4,155
Total cash, cash equivalents and restricted cash	$ 6,769	$ 8,537	$ 8,181	$ 9,572