Jones Financial Companies LLLP (JNFC) 10-K 12 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 28, 2020	Jun. 28, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	JONES FINANCIAL COMPANIES LLLP
Entity Central Index Key	0000815917
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
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
Entity Limited Partnership Interests Outstanding		1,248,223
Entity Interactive Data Current	Yes
Entity Public Float			$ 0
Document Annual Report	true
Document Transition Report	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
ASSETS:
Cash and cash equivalents	$ 1,014	$ 1,498
Cash and investments segregated under federal regulations	10,387	8,241
Securities purchased under agreements to resell	1,693	911
Receivable from:
Clients	3,328	3,359
Mutual funds, insurance companies and other	661	555
Brokers, dealers and clearing organizations	204	261
Securities owned, at fair value:
Investment securities	332	250
Inventory securities	50	43
Lease right-of-use assets	876	0
Equipment, property and improvements, at cost, net of accumulated depreciation and amortization	616	555
Other assets	156	142
TOTAL ASSETS	19,317	15,815
Payable to:
Clients	12,891	11,117
Brokers, dealers and clearing organizations	66	90
Lease liabilities	898	0
Accrued compensation and employee benefits	1,747	1,465
Accounts payable, accrued expenses and other	351	288
Total liabilities before partnership capital	15,953	12,960
Commitments and contingencies (Notes 13 and 14)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	2,957	2,507
Reserve for anticipated withdrawals	407	348
Total partnership capital subject to mandatory redemption	3,364	2,855
TOTAL LIABILITIES	19,317	15,815
Limited Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	1,249	884
Subordinated Limited Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	523	504
General Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	$ 1,185	$ 1,119

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue:
Revenue	$ 9,033	$ 8,215	$ 7,272
Interest and dividends	416	362	265
Other revenue	77	17	60
Total revenue	9,526	8,594	7,597
Interest expense	157	125	91
Net revenue	9,369	8,469	7,506
Operating expenses:
Compensation and benefits	6,538	5,993	5,299
Occupancy and equipment	499	448	416
Communications and data processing	392	338	324
Fund sub-adviser fees	159	132	99
Professional and consulting fees	113	87	68
Advertising	96	92	86
Postage and shipping	56	55	64
Other operating expenses	424	334	278
Total operating expenses	8,277	7,479	6,634
Income before allocations to partners	1,092	990	872
Allocations to partners:
Limited partners	166	114	109
Subordinated limited partners	130	127	109
General partners	796	749	654
Net income	$ 0	$ 0	$ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding	$ 132.22	$ 128.13	$ 121.15
Weighted average $1,000 equivalent limited partnership units outstanding	1,256,459	889,502	896,566
Asset-based Fee Revenue [Member]
Revenue:
Revenue	$ 6,778	$ 6,075	$ 5,047
Account and Activity Fee Revenue [Member]
Revenue:
Revenue	674	678	678
Total Fee Revenue [Member]
Revenue:
Revenue	7,452	6,753	5,725
Trade Revenue [Member]
Revenue:
Revenue	$ 1,581	$ 1,462	$ 1,547

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Limited partnership interest value	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption - USD ($) $ in Millions	Total	Limited Partnership Capital [Member]	Subordinated Limited Partnership Capital [Member]	General Partnership Capital [Member]
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2016	$ 2,634	$ 959	$ 445	$ 1,230
Reserve for anticipated withdrawals at Dec. 31, 2016	(217)	(57)	(24)	(136)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2016	2,417	902	421	1,094
Partnership loans outstanding at beginning of year at Dec. 31, 2016	266	0	5	261
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2016	2,683	902	426	1,355
Issuance of partnership interests	222	1	60	161
Redemption of partnership interests	(193)	(13)	(20)	(160)
Income allocated to partners	872	109	109	654
Distributions	(492)	(43)	(73)	(376)
Total partnership capital, including capital financed with partnership loans at Dec. 31, 2017	3,092	956	502	1,634
Partnership loans outstanding, reduction to arrive at Partnership Capital at Dec. 31, 2017	(297)	0	(3)	(294)
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2017	2,795	956	499	1,340
Reserve for anticipated withdrawals at Dec. 31, 2017	(290)	(66)	(36)	(188)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2017	2,505	890	463	1,152
Partnership loans outstanding at end of year at Dec. 31, 2017	297	0	3	294
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2017	2,802	890	466	1,446
Issuance of partnership interests	230	5	53	172
Redemption of partnership interests	(296)	(11)	(11)	(274)
Income allocated to partners	990	114	127	749
Distributions	(539)	(42)	(86)	(411)
Total partnership capital, including capital financed with partnership loans at Dec. 31, 2018	3,187	956	549	1,682
Partnership loans outstanding, reduction to arrive at Partnership Capital at Dec. 31, 2018	(332)	0	(4)	(328)
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2018	2,855	956	545	1,354
Reserve for anticipated withdrawals at Dec. 31, 2018	(348)	(72)	(41)	(235)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2018	2,507	884	504	1,119
Partnership loans outstanding at end of year at Dec. 31, 2018	332	0	4	328
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2018	2,839	884	508	1,447
Issuance of partnership interests	596	380	53	163
Redemption of partnership interests	(228)	(15)	(34)	(179)
Income allocated to partners	1,092	166	130	796
Distributions	(575)	(56)	(87)	(432)
Total partnership capital, including capital financed with partnership loans at Dec. 31, 2019	3,724	1,359	570	1,795
Partnership loans outstanding, reduction to arrive at Partnership Capital at Dec. 31, 2019	(360)	0	(4)	(356)
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2019	3,364	1,359	566	1,439
Reserve for anticipated withdrawals at Dec. 31, 2019	(407)	(110)	(43)	(254)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2019	2,957	$ 1,249	$ 523	$ 1,185
Partnership loans outstanding at end of year at Dec. 31, 2019	$ 360

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 0	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners	1,092	990	872
Depreciation and amortization	115	94	85
Changes in assets and liabilities:
Investments segregated under federal regulations	(2,392)	1,406	1,747
Securities purchased under agreements to resell	(782)	253	(272)
Net payable to clients	1,805	(1,752)	(2,775)
Net receivable from brokers, dealers and clearing organizations	33	9	(60)
Receivable from mutual funds, insurance companies and other	(106)	(15)	(27)
Securities owned	(89)	15	(41)
Lease right-of-use asset	(71)	0	0
Other assets	(14)	(14)	0
Lease liability	93	0	0
Accrued compensation and employee benefits	282	126	223
Accounts payable, accrued expenses and other	47	26	4
Net cash provided by (used in) operating activities	13	1,138	(244)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements	(176)	(105)	(80)
Cash used in investing activities	(176)	(105)	(80)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests	432	60	80
Redemption of partnership interests	(216)	(199)	(193)
Distributions from partnership capital	(783)	(694)	(598)
Net cash used in financing activities	(567)	(833)	(711)
Net (decrease) increase in cash, cash equivalents and restricted cash	(730)	200	(1,035)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of year	8,737	8,537	9,572
End of year	$ 8,007	$ 8,737	$ 8,537

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Partnership’s Business and Basis of Accounting. The accompanying Consolidated Financial Statements include the accounts of The Jones Financial Companies, L.L.L.P. and all wholly-owned subsidiaries (collectively, the “Partnership” or "JFC"). The financial position of the Partnership’s subsidiaries in Canada as of November 30, 2019 and 2018 are included in the Partnership's Consolidated Statements of Financial Condition and the results for the twelve month periods ended November 30, 2019, 2018 and 2017 are included in the Partnership’s Consolidated Statements of Income, Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption and Consolidated Statements of Cash Flows because of the timing of the Partnership’s financial reporting process. The Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), is a registered broker-dealer and investment adviser in the United States (“U.S.”), and one of Edward Jones’ subsidiaries 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. For financial information related to the Partnership’s two operating segments for the years ended December 31, 2019, 2018 and 2017, see Note 15 to the Consolidated Financial Statements. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“Trust Co.”), a wholly-owned subsidiary of the Partnership. Olive Street Investment Advisers, LLC, a wholly-owned subsidiary of the Partnership, provides investment advisory services to the eight sub-advised mutual funds comprising the Bridge Builder® Trust ("BB Trust"). Passport Research, Ltd., a wholly-owned subsidiary of the Partnership, provides investment advisory services to the sub-advised Edward Jones Money Market Fund ("Money Market Fund"). The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“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 evaluated subsequent events for recognition or disclosure through March 12, 2020, which was the date these Consolidated Financial Statements were available to be issued, and identified no matters requiring disclosure other than the events in Notes 8 and 14. Partnership Agreement. Under the terms of the Partnership’s Twentieth Amended and Restated Agreement of Registered Limited Liability Limited Partnership, dated August 6, 2018, (the “Partnership Agreement”), a partner’s capital is required to be redeemed by the Partnership in the event of the partner’s death or withdrawal from the Partnership, subject to compliance with ongoing regulatory capital requirements. In the event of a partner’s death, the Partnership generally redeems the partner’s capital within six months. The Partnership has restrictions in place which govern the withdrawal of capital. Under the terms of the Partnership Agreement, limited partners requesting withdrawal from the Partnership are to be repaid their capital in three equal annual installments beginning no earlier than 90 days after their withdrawal notice is received by the Managing Partner (as defined in the Partnership Agreement). The capital of general partners requesting withdrawal from the Partnership is converted to subordinated limited partnership capital or, at the discretion of the Managing Partner, redeemed by the Partnership. Subordinated limited partners requesting withdrawal are repaid their capital in six equal annual installments beginning no earlier than 90 days after their request for withdrawal of contributed capital is received by the Managing Partner. The Partnership’s Managing Partner has discretion to waive or modify these withdrawal restrictions and to accelerate the return of capital. All current and future Partnership capital is subordinate to all current and future liabilities of the Partnership. The Partnership Agreement includes additional terms. 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 as well as contractual rates 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's contracts with mutual fund and insurance companies, along with the prospectuses for mutual funds, allow the Partnership to sell those companies' 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's contracts with mutual fund and insurance companies, along with the prospectuses for mutual funds, allow the Partnership to sell those companies' products to clients and earn certain commissions, which for mutual funds, are aligned with the terms of the mutual fund prospectuses. 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. 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. Foreign exchange gains and losses are included in other revenue on the Consolidated Statements of Income. Fair Value. Substantially all of the Partnership’s financial assets and financial liabilities covered under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 820, Fair Value Measurement and Disclosure (“ASC 820”), are carried at fair value or at contracted amounts which approximate fair value given the short time to maturity. Fair value of a financial instrument is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, also known as the “exit price.” Financial assets are marked to bid prices and financial liabilities are marked to offer prices. The Partnership’s financial assets and financial liabilities recorded at fair value in the Consolidated Statements of Financial Condition are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC 820, with the related amount of subjectivity associated with the inputs to value these assets and liabilities at fair value for each level, are as follows: Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. The types of assets categorized as Level I generally are U.S. treasuries, investments in publicly traded mutual funds with quoted market prices, equities listed in active markets, and government and agency obligations. Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with related market data at the measurement date and for the duration of the instrument’s anticipated life. The Partnership uses the market approach valuation technique which incorporates third-party pricing services and other relevant observable information (such as market interest rates, yield curves, prepayment risk and credit risk generated by market transactions involving identical or comparable assets or liabilities) in valuing these types of investments. When third-party pricing services are used, the methods and assumptions used are reviewed by the Partnership. The types of assets categorized as Level II generally are certificates of deposit, state and municipal obligations and corporate bonds and notes. Level III – Inputs are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the inputs to the model. The Partnership did not have any assets or liabilities categorized as Level III during the years ended December 31, 2019 and 2018. Cash and Cash Equivalents. The Partnership considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash and Investments Segregated under Federal Regulations. Cash, investments and the related interest receivable are segregated in special reserve bank accounts for the benefit of U.S. clients pursuant to the Customer Protection Rule 15c3-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Securities Purchased Under Agreements to Resell. The Partnership participates in short-term resale agreements collateralized by government and agency securities. These transactions are reported as collateralized financing and are carried at cost with accrued interest in receivable from mutual funds, insurance companies and other within the Consolidated Statements of Financial Condition. The fair value of the underlying collateral, plus accrued interest, must equal or exceed 102% of the carrying amount of the transaction in U.S. agreements and must equal or exceed 100% of the carrying amount of the transaction in Canada agreements. It is the Partnership’s policy to have such underlying resale agreement collateral delivered to the Partnership or deposited in its accounts at its custodian banks. The Partnership considers these financing receivables to be of good credit quality and, as a result, has not recorded a related allowance for credit loss. In addition, the Partnership considers risk related to these resale agreements to be minimal due to the fact that these resale agreements are fully collateralized. The fair value of the collateral related to these agreements was $1,724 and $926 as of December 31, 2019 and 2018, respectively, and was not repledged or sold. Collateral. The Partnership reports as assets collateral it has pledged in secured borrowings and other arrangements when the secured party cannot sell or repledge the assets or the Partnership can substitute collateral or otherwise redeem it on short notice. The Partnership does not report collateral it has received in secured lending and other arrangements as an asset when the debtor has the right to redeem or substitute the collateral on short notice. Securities Owned . Securities owned, primarily consisting of investment securities, are recorded on a trade-date basis at fair value which is determined by using quoted market or dealer prices. The Partnership records the related unrealized gains and losses for inventory securities in trade revenue in the Consolidated Statement of Income. The unrealized gains and losses for investment securities are recorded in other revenue in the Consolidated Statement of Income. Equipment, Property and Improvements. Equipment, including furniture and fixtures, is recorded at cost and depreciated using straight-line and accelerated methods over estimated useful lives of three to ten years. Buildings are depreciated using the straight-line method over their useful lives, which are estimated at thirty years. Leasehold improvements are amortized based on the term of the lease or the economic useful life of the improvement, whichever is less. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation or amortization is removed from the respective category and any related gain or loss is recorded as other revenue in the Consolidated Statements of Income. The cost of maintenance and repairs is charged against income as incurred, whereas significant enhancements are capitalized. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the book value of the asset may not be fully recoverable. If impairment is indicated, the asset value is written down to its fair value. Non-qualified Deferred Compensation Plan. The Partnership has a non-qualified deferred compensation plan for certain financial advisors. The Partnership has recorded a liability of $235 for the future payments due to financial advisors participating in the plan. As the future amounts due to financial advisors change in accordance with plan requirements, the Partnership records the change in future amounts owed to financial advisors as an increase or decrease in accrued compensation in the Consolidated Statements of Financial Condition and compensation and benefits expense in the Consolidated Statements of Income. The Partnership has chosen to economically hedge this future liability by purchasing securities in an amount similar to the future liability expected to be due in accordance with the plan. These securities are included in investment securities in the Consolidated Statements of Financial Condition and the unrealized gains and losses are recorded in other revenue in the Consolidated Statements of Income. Each period, the net impact of the change in future amounts owed to financial advisors in the non-qualified deferred compensation plan and the change in investment securities are approximately the same, resulting in minimal net impact in the Consolidated Financial Statements. Retirement Transition Plans. The Partnership, in certain circumstances, offers individually tailored retirement transition plans to retiring financial advisors. Each retirement transition plan compensates a retiring financial advisor for successfully providing client transition services in accordance with a retirement and transition agreement. Generally, the retirement and transition agreement is for five years. During the first two years the retiring financial advisor remains an employee and provides client transition services, which include, but are not limited to, the successful transition of client accounts and assets to successor financial advisors, as well as mentoring and providing training and support to successor financial advisors. The financial advisor retires at the end of year two and is subject to a non-compete agreement for three years. Most retiring financial advisors participating in a retirement transition plan are paid ratably over four years. Compensation expense is generally recognized ratably over the two-year transition period which aligns with the service period of most agreements, with compensation expense related to some plans recognized over one year depending on the size and complexity of the transition plan. As of December 31, 2019, $102 was accrued for future payments to advisors who have already started a plan, approximately $52 of which is expected to be paid in 2020. As of December 31, 2018, $94 was accrued. Successor financial advisors receive reduced compensation on transitioned assets for up to four years. Lease Accounting. The Partnership leases branch office space under numerous operating leases from non-affiliates and financial advisors. Branch offices are generally leased for terms of five years and generally contain a renewal option. Renewal options are not included in the lease term if it is not reasonably certain the Partnership will exercise the renewal option. The Partnership also leases home office spaces and land from non-affiliates with terms ranging from 12 to 30 years. The Partnership recognizes lease liabilities for future lease payments and lease right-of-use assets for the right of use of an underlying asset within a contract. Current leases are all classified as operating leases. Lease right-of-use assets and lease liabilities are recognized on the Consolidated Statements of Financial Condition at commencement date and calculated as the present value of the sum of the remaining fixed lease payments over the lease term. Throughout the lease term, the lease right-of-use asset includes the impact from the timing of lease payments and straight-line rent expense. The Partnership used its incremental borrowing rate based on information available at lease commencement as leases do not contain a readily determinable implicit rate. A single lease cost, or rent expense, is recognized on a straight-line basis over the lease term. The Partnership does not separate lease components (i.e., fixed payments including rent, real estate taxes and insurance costs) from non-lease components (i.e., common-area maintenance) and recognizes them as a single lease component. Variable lease payments not included within lease contracts are expensed as incurred. See Note 2 for additional information. Income Taxes. Generally, income taxes have not been provided for in the Consolidated Financial Statements due to the partnership tax structure where each partner is liable for his or her own tax payments. For the jurisdictions in which the Partnership is liable for payments, the income tax provisions are immaterial (see Note 11). Partnership Capital Subject to Mandatory Redemption. FASB ASC No. 480, Distinguishing Liabilities from Equity (“ASC 480”), established standards for classifying and measuring certain financial instruments with characteristics of both liabilities and equity. Under the provisions of ASC 480, the obligation to redeem a partner’s capital in the event of a partner’s death is one of the criteria requiring capital to be classified as a liability. Since the Partnership Agreement obligates the Partnership to redeem a partner’s capital after a partner’s death, ASC 480 requires all of the Partnership’s equity capital to be classified as a liability. In accordance with ASC 480, income allocable to limited, subordinated limited and general partners is classified as a reduction of income before allocations to partners, which results in a presentation of $0 net income for the years ended December 31, 2019, 2018 and 2017. The financial statement presentations required to comply with ASC 480 do not alter the Partnership’s treatment of income, income allocations or capital for any other purposes. Net income, as defined in the Partnership Agreement, is equivalent to income before allocations to partners on the Consolidated Statements of Income. Such income, if any, for each calendar year is allocated to the Partnership’s three classes of capital in accordance with the formulas prescribed in the Partnership Agreement. Income allocations are based upon partner capital contributions including capital contributions financed with loans from the Partnership. First, limited partners are allocated net income (as defined in the Partnership Agreement) in accordance with the prescribed formula for their share of net income. Limited partners generally do not share in the net loss in any year in which there is a net loss and the Partnership is not dissolved or liquidated. Thereafter, subordinated limited partners and general partners are allocated any remaining net income or net loss based on formulas as defined in the Partnership Agreement. The limited partnership capital subject to mandatory redemption is held by current and former associates and general partners of the Partnership. Limited partners participate in the Partnership’s profits and are paid a minimum 7.5% annual return on the face amount of their capital (see Note 9) in accordance with the Partnership Agreement. The subordinated limited partnership capital subject to mandatory redemption is held by current and former general partners of the Partnership. Subordinated limited partners receive a percentage of the Partnership’s net income determined in accordance with the Partnership Agreement. The subordinated limited partnership capital subject to mandatory redemption is subordinated to the limited partnership capital. The general partnership capital subject to mandatory redemption is held by current general partners of the Partnership. General partners receive a percentage of the Partnership’s net income determined in accordance with the Partnership Agreement. The general partnership capital subject to mandatory redemption is subordinated to the limited partnership capital and the subordinated limited partnership capital. Advertising. Advertising activities include the cost to produce and distribute campaigns market wide to attract and retain clients and financial advisors. Such costs are generally expensed when incurred. Recently Issued and Adopted Accounting Standards. In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) (“ASC 842”), which requires lessees to recognize leases with terms greater than 12 months on the balance sheet as lease right-of-use assets and lease liabilities. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) , which allows an entity to recognize a cumulative-effect adjustment to the opening balance of Partnership capital in the period of adoption and prior periods do not have to be restated. Effective January 1, 2019, the Partnership adopted ASC 842 and recorded a lease right-of-use asset of $785 and lease liability of $805 related to the Partnership's branch office network and home offices. The lease right-of-use asset was reduced by $20 for deferred rent on existing leases at adoption. The cumulative-effect adjustment to the opening balance of Partnership capital was zero and prior periods were not restated. The Partnership elected the package of practical expedients for leases that commenced prior to January 1, 2019, which allowed the Partnership to not reassess whether any contracts are or contain leases, lease classification for expired or existing leases, and initial direct costs for existing leases. There was no material impact on the Consolidated Statements of Income, Consolidated Statements of Cash Flows or net capital requirements of Edward Jones. See Note 2 for additional information. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement Fair Value Measurement In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	NOTE 2 – Leases For the year ended December 31, 2019, cash paid for amounts included in the measurement of operating lease liabilities was $283 and lease right-of-use assets obtained in exchange for new operating lease liabilities was $360. As of December 31, 2019, the weighted-average remaining lease term was four years, and the weighted-average discount rate was 3.2%. For the year ended December 31, 2019, operating lease cost was $280 and variable lease cost not included in the lease liability was $55. Total lease cost for the year ended December 31, 2019 was $335. The Partnership's future undiscounted cash outflows for operating leases as of December 31, 2019 are summarized below: 2020 $ 283 2021 239 2022 183 2023 128 2024 65 Thereafter 63 Total lease payments 961 Less: Interest 63 Total present value of lease liabilities $ 898 While the rights and obligations for leases that have not yet commenced are not significant, the Partnership regularly enters into new branch office leases. Under ASC 840 , Leases, 2019 $ 182 2020 56 2021 39 2022 19 2023 9 Thereafter 10 Total $ 315

Revenue

Revenue	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue	NOTE 3 – Revenue The following table shows the Partnership's disaggregated revenue information for the years ended December 31, 2019, 2018 and 2017: 2019 U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 4,740 $ 70 $ 4,810 Service fees 1,241 88 1,329 Other asset-based fees 639 — 639 Total asset-based fee revenue 6,620 158 6,778 Account and activity fee revenue: Shareholder accounting services fees 432 — 432 Other account and activity fee revenue 229 13 242 Total account and activity fee revenue 661 13 674 Total fee revenue 7,281 171 7,452 Trade revenue: Commissions 1,428 47 1,475 Principal transactions 102 4 106 Total trade revenue 1,530 51 1,581 Total revenue from customers 8,811 222 9,033 Net interest and dividends and other revenue 316 20 336 Net revenue $ 9,127 $ 242 $ 9,369 2018 U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 4,156 $ 58 $ 4,214 Service fees 1,218 87 1,305 Other asset-based fees 556 — 556 Total asset-based fee revenue 5,930 145 6,075 Account and activity fee revenue: Shareholder accounting services fees 432 — 432 Other account and activity fee revenue 232 14 246 Total account and activity fee revenue 664 14 678 Total fee revenue 6,594 159 6,753 Trade revenue: Commissions 1,271 49 1,320 Principal transactions 137 5 142 Total trade revenue 1,408 54 1,462 Total revenue from customers 8,002 213 8,215 Net interest and dividends and other revenue 231 23 254 Net revenue $ 8,233 $ 236 $ 8,469 2017 U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 3,299 $ 42 $ 3,341 Service fees 1,180 79 1,259 Other asset-based fees 447 — 447 Total asset-based fee revenue 4,926 121 5,047 Account and activity fee revenue: Shareholder accounting services fees 412 — 412 Other account and activity fee revenue 254 12 266 Total account and activity fee revenue 666 12 678 Total fee revenue 5,592 133 5,725 Trade revenue: Commissions 1,355 52 1,407 Principal transactions 137 3 140 Total trade revenue 1,492 55 1,547 Total revenue from customers 7,084 188 7,272 Net interest and dividends and other revenue 221 13 234 Net revenue $ 7,305 $ 201 $ 7,506 The Partnership derived 14%, 14% and 16% of its total revenue for the years ended December 31, 2019, 2018 and 2017, respectively, from one mutual fund company. The revenue generated from this company relates to business conducted with the Partnership’s U.S. segment.

Receivable from and Payable to

Receivable from and Payable to Clients	12 Months Ended
	Dec. 31, 2019
Client Receivables And Payables [Abstract]
Receivable from and Payable to Clients	NOTE 4 – RECEIVABLE FROM AND PAYABLE TO CLIENTS Receivable from clients is primarily composed of margin loan balances. The value of securities owned by clients and held as collateral for these receivables is not reflected in the Consolidated Financial Statements. Collateral held as of December 31, 2019 and 2018 was $3,915 and $4,076, respectively, and was not repledged or sold. The Partnership considers these financing receivables to be of good credit quality due to the fact that these receivables are primarily collateralized by the related client investments and, as a result, the Partnership considers credit risk related to these receivables to be minimal. Payable to clients is composed of cash amounts held by the Partnership due to clients. Substantially all amounts payable to clients are subject to withdrawal upon client request. The Partnership pays interest on the vast majority of credit balances in client accounts at varying rates. The total interest paid to clients for the years ended December 31, 2019, 2018 and 2017 was $62, $58 and $23, respectively. As of December 31, 2019, 2018 and 2017, $470, $377 and $346, respectively, of the receivable from clients balance related to revenue contracts with customers.

Receivable from Mutual Funds, I

Receivable from Mutual Funds, Insurance Companies, and Other	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Receivable from Mutual Funds, Insurance Companies, and Other	NOTE 5 – RECEIVABLE FROM MUTUAL FUNDS, INSURANCE COMPANIES AND OTHER The following table shows the Partnership's receivable from mutual funds, insurance companies and other as of December 31, 2019 and 2018: 2019 2018 Deposit for Canadian retirement accounts $ 326 $ 273 Fees from mutual fund and insurance companies 291 278 Other receivables 44 4 Total $ 661 $ 555 The deposit for Canadian retirement accounts is required by Canadian regulations. The Partnership is required to hold deposits with a trustee for clients’ retirement funds held in Canada. The receivable from mutual fund and insurance companies is related to revenue contracts with customers. The balance was $279 as of December 31, 2017.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE The following tables show the Partnership's financial instruments measured at fair value: Financial Assets at Fair Value as of December 31, 2019 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 326 $ — $ 326 Investments segregated under federal regulations: U.S. treasuries $ 3,394 $ — $ — $ 3,394 Securities owned: Investment securities: Mutual funds (1) $ 328 $ — $ — $ 328 Government and agency obligations 3 — — 3 Equities 1 — — 1 Corporate bonds and notes — — — — Total investment securities $ 332 $ — $ — $ 332 Inventory securities: Equities $ 18 $ — $ — $ 18 State and municipal obligations — 18 — 18 Certificates of deposit — 9 — 9 Corporate bonds and notes — 3 — 3 Mutual funds 2 — — 2 Total inventory securities $ 20 $ 30 $ — $ 50 Financial Assets at Fair Value as of December 31, 2018 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 298 $ — $ 298 Investments segregated under federal regulations: U.S. treasuries $ 998 $ — $ — $ 998 Securities owned: Investment securities: Mutual funds (1) $ 244 $ — $ — $ 244 Government and agency obligations 3 — — 3 Equities 2 — — 2 Corporate bonds and notes — 1 — 1 Total investment securities $ 249 $ 1 $ — $ 250 Inventory securities: Equities $ 16 $ — $ — $ 16 State and municipal obligations — 15 — 15 Mutual funds 6 — — 6 Certificates of deposit — 3 — 3 Corporate bonds and notes — 3 — 3 Total inventory securities $ 22 $ 21 $ — $ 43 (1) The mutual funds balance consists primarily of securities held to economically hedge future liabilities related to the non-qualified deferred compensation plan. The balance also includes securities held in relation to profit sharing contributions on behalf of service partners and a security held for regulatory purposes at the Trust Co.

Equipment, Property and Improve

Equipment, Property and Improvements	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Equipment, Property and Improvements	NOTE 7 – EQUIPMENT, PROPERTY AND IMPROVEMENTS The following table shows equipment, property and improvements as of December 31, 2019 and 2018: 2019 2018 Buildings and improvements $ 1,012 $ 978 Equipment, furniture and fixtures 713 658 Land 43 27 Equipment, property and improvements, at cost 1,768 1,663 Accumulated depreciation and amortization 1,152 1,108 Equipment, property and improvements, net $ 616 $ 555 Depreciation and amortization expense on equipment, property and improvements of $115, $94 and $85 is included in the Consolidated Statements of Income within the occupancy and equipment and communications and data processing line items for the years ended December 31, 2019, 2018 and 2017, respectively. The Partnership's capital expenditures were $176, $105 and $80 for the years ended December 31, 2019, 2018 and 2017, respectively. The capital expenditures in 2019 were primarily related to construction and facilities improvements in branch offices and headquarters, as well as for technology support. The Partnership purchased Industrial Revenue Bonds issued by St. Louis County related to certain self-constructed and purchased real and personal property for potential property tax benefits over the life of the bonds (generally 10 years). The bonds matured in December 2019. The Partnership was therefore both the bondholder and the debtor/lessee for these properties while the bonds were held. The Partnership exercised its right to offset the amounts invested in and the obligations for these bonds and therefore excluded any bond related balances in the Consolidated Statements of Financial Condition. The amount issued as of December 31, 2019 and 2018 was approximately $0 and $270, respectively

Lines of Credit

Lines of Credit	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Lines of Credit	NOTE 8 – LINES OF CREDIT The following table shows the composition of the Partnership's aggregate bank lines of credit in place as of December 31, 2019 and 2018: 2019 2018 2018 Credit Facility $ 500 $ 500 Uncommitted secured credit facilities 290 290 Total bank lines of credit $ 790 $ 790 In accordance with the terms of the Partnership's $500 committed revolving line of credit (the "2018 Credit Facility") entered into in September 2018, 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 net capital of at least 6% of aggregate debit items as calculated under the alternative method. The Partnership has the ability to draw on various types of loans. The associated interest rate depends on the type of loan, duration of the loan, whether the loan is secured or unsecured and the amount of leverage. Rates include the federal funds rate plus the applicable rate, eurodollar rate plus the applicable rate, and the Alternative Base Rate plus the applicable rate. In addition, the Partnership has multiple uncommitted lines of credit, including $290 of uncommitted secured lines of credit that are subject to change at the discretion of the banks and a new uncommitted line of credit entered into in September 2019. The amount available on the new line of credit and the associated collateral requirements are at the bank's discretion upon the event of a borrowing. Based on credit market conditions and the uncommitted nature of these credit facilities, it is possible that these lines of credit could decrease or not be available in the future. Actual borrowing availability on the uncommitted secured lines is based on availability of client margin securities or firm-owned securities, which would serve as collateral on loans in the event the Partnership borrowed against these lines. In February 2020, the Partnership increased the $290 uncommitted lines of credit to $390 with $250 unsecured for up to three days after borrowing. There were no amounts outstanding on the 2018 Credit Facility or the uncommitted lines of credit as of December 31, 2019 or December 31, 2018. In addition, the Partnership did not have any draws against these lines of credit during the years ended December 31, 2019 and 2018, except for periodically testing draw procedures.

Partnership Capital Subject to

Partnership Capital Subject to Mandatory Redemption	12 Months Ended
	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Partnership Capital Subject to Mandatory Redemption	NOTE 9 – 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 Executive Committee) 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 December 31, 2019 and 2018, the outstanding amount of Partnership loans was $360 and $332, respectively. Interest income earned from these loans, which is included in interest and dividends in the Consolidated Statements of Income, was $21, $17 and $13 for the years ended December 31, 2019, 2018 and 2017, respectively. The following table shows the roll forward of outstanding Partnership loans for the years ended December 31, 2019 and 2018: 2019 2018 Partnership loans outstanding at beginning of year $ 332 $ 297 Partnership loans issued during the year 164 170 Repayment of Partnership loans during the year (136 ) (135 ) Total Partnership loans outstanding $ 360 $ 332 The minimum 7.5% annual return on the face amount of limited partnership capital was $94, $67 and $67 for the years ended December 31, 2019, 2018 and 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 SEC on January 12, 2018, to register $450 of Interests issuable pursuant to the Partnership's 2018 Employee Limited Partnership Interest Purchase Plan (the "2018 Plan"). The Partnership issued approximately $380 and $1 of Interests under the 2018 Plan on January 2, 2019 and January 2, 2020, respectively. The remaining $69 of Interests may be issued under the Plan at the discretion of the Managing Partner in the future.

Net Capital Requirements

Net Capital Requirements	12 Months Ended
	Dec. 31, 2019
Brokers And Dealers [Abstract]
Net Capital Requirements	NOTE 10 – 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 capital figures for its U.S. and Canada broker-dealer subsidiaries as of December 31, 2019 and 2018: 2019 2018 U.S.: Net capital $ 1,244 $ 1,280 Net capital in excess of the minimum required $ 1,188 $ 1,221 Net capital as a percentage of aggregate debit items 44.2 % 43.6 % Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items 26.4 % 28.3 % Canada: Regulatory risk-adjusted capital $ 40 $ 40 Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC $ 38 $ 39 U.S. net capital, Canada regulatory risk-adjusted capital and the related capital percentages may fluctuate on a daily basis. In addition, Trust Co. was in compliance with its regulatory capital requirements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11 – INCOME TAXES The Partnership is a pass-through entity for federal and state income tax purposes and generally does not incur income taxes. Instead, its earnings and losses are included in the income tax returns of the general, subordinated limited and limited partners. However, the Partnership's structure does include certain subsidiaries which are corporations that are subject to income tax. As of December 31, 2019 and 2018, the Partnership's tax basis of net assets and liabilities exceeds the book basis by $303 and $300, respectively. The primary difference between financial statement basis and tax basis is related to the deferral for tax purposes in deducting accrued expenses until they are paid. Since the Partnership is treated as a pass-through entity for federal and state income tax purposes, the difference between the tax basis and the book basis of assets and liabilities will impact the future tax liabilities of the partners. The tax differences will not impact the net income of the Partnership. FASB ASC No. 740, Income Taxes,

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE 12 – EMPLOYEE BENEFIT PLANS The Partnership maintains a profit sharing and 401(k) plan covering all eligible U.S. employees, general partners and service partners, a Group Registered Retirement Savings Plan covering all eligible Canada employees and general partners, and a Deferred Profit Sharing Plan covering all eligible Canada employees. The Partnership contributed approximately $213, $197 and $178 in total to these plans for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019, the Partnership withheld $32 in future mandatory profit sharing contributions from service partners that will be contributed to the profit sharing plan in early 2020.

Commitments, Guarantees and Ris

Commitments, Guarantees and Risks	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments, Guarantees and Risks	NOTE 13 – COMMITMENTS, GUARANTEES AND RISKS As of December 31, 2019, the Partnership would be subject to termination fees of approximately $114 in the event the Partnership terminated existing contractual commitments with certain vendors providing ongoing services primarily for information technology, operations and marketing. As of December 31, 2019, the Partnership made no such decision to terminate these services. These termination fees will decrease over the related contract periods, which generally expire within the next three years. As of December 31, 2019, the Partnership also has a revolving unsecured line of credit available (see Note 8). The Partnership provides margin loans to its clients in accordance with Federal Reserve Board Regulation T and FINRA Rule 4210, under which loans are collateralized by securities in client accounts (see Note 4). The Partnership could be liable for the margin requirement of its client margin securities transactions. To mitigate this risk, the Partnership monitors required margin levels and requires clients to deposit additional collateral or reduce positions to meet minimum collateral requirements. The Partnership's securities activities involve execution, settlement and financing of various securities transactions for clients. The Partnership may be exposed to risk of loss in the event clients, other brokers and dealers, banks, depositories or clearing organizations are unable to fulfill contractual obligations. The Partnership has controls in place to ensure client activity is monitored and to mitigate the risk of clients' inability to meet their obligations to the Partnership. Therefore, the Partnership considers its potential to make payments under these client transactions to be remote and accordingly, no liability has been recognized for these transactions. Cash balances held at various major U.S. financial institutions, which typically exceed Federal Deposit Insurance Corporation insurance coverage limits, subject the Partnership to a concentration of credit risk. Additionally, the Partnership's Canada broker-dealer subsidiary may also have cash deposits in excess of the applicable insured amounts. The Partnership regularly monitors the credit ratings of these financial institutions in order to help mitigate the credit risk that exists with the deposits in excess of insured amounts. The Partnership has credit exposure to U.S. government and agency securities which are held as collateral for its resell agreements, investment securities and segregated investments. The Partnership's primary exposure on resell agreements is with the counterparty and the Partnership would only have exposure to U.S. government and agency credit risk in the event of the counterparty's default on the resell agreements. The Partnership provides guarantees to securities clearing houses and exchanges under their standard membership agreements, which require a member to guarantee the performance of other members. Under these agreements, if a member becomes unable to satisfy its obligations to the clearing houses and exchanges, all other members would be required to meet any shortfall. The Partnership's liability under these arrangements is not quantifiable and may exceed the cash and securities it has posted as collateral. However, the Partnership considers the likelihood that the Partnership will be required to make payments under these agreements to be remote. Accordingly, no liability has been recognized for these transactions.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Contingencies	NOTE 14 – 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: Mutual Fund Share Class Waivers . As previously disclosed, on October 26, 2015, Edward Jones, without admitting or denying the findings, entered into a settlement agreement with FINRA in connection with its investigation of possible violations of the federal securities laws or rules with respect to mutual fund purchases and sales charge waivers for certain retirement plan and charitable organization accounts. On June 12, 2015, the Division of Enforcement of the SEC informed Edward Jones that it is also investigating this matter. The SEC’s review is ongoing. Consistent with its practice, Edward Jones is cooperating fully with the SEC with respect to its investigation. Retirement Plan Litigation . On August 19, 2016, JFC, Edward Jones and certain other defendants were named in a putative class action lawsuit ( ) filed in the U.S. District Court for the Eastern District of Missouri brought under the Employee Retirement Income Security Act of 1974, as amended, by a participant in the Edward D. Jones & Co. Profit Sharing and 401(k) Plan (the "Retirement Plan"). The lawsuit alleges that the defendants breached their fiduciary duties to Retirement Plan participants and seeks declaratory and equitable relief and monetary damages on behalf of the Retirement Plan. The defendants filed a motion to dismiss the lawsuit which was granted in part dismissing the claim against JFC, and denied in part as to all other defendants on January 26, 2017. On November 11, 2016, a substantially similar lawsuit ( Schultz, et al. v. Edward D. Jones & Co., L.P., et al. Schultz McDonald Schultz Wage-and-Hour Class Action. On March 13, 2018, JFC and Edward Jones were named as defendants in a purported collective and class action lawsuit ( ) filed in the U.S. District Court for the Northern District of Illinois by four former financial advisors. The lawsuit was brought under the Fair Labor Standards Act as well as Missouri and Illinois law and alleges that the defendants unlawfully attempted to recoup training costs from departing financial advisors and failed to pay all overtime owed to financial advisor trainees among other claims. The lawsuit seeks declaratory and injunctive relief, compensatory and liquidated damages. JFC and Edward Jones deny the allegations and intend to vigorously defend against the allegations in this lawsuit. On March 19, 2019, the court entered an order granting the defendants' motion to dismiss all claims, but permitting the plaintiffs to amend and re-file certain of their claims. Plaintiffs filed an amended complaint on May 3, 2019. Defendants have filed a renewed motion to dismiss that amended complaint. Securities Class Action. On March 30, 2018, Edward Jones and its affiliated entities and individuals were named as defendants in a putative class action ( filed in the U.S. District Court for the Eastern District of California. The lawsuit 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 affiliated entities and individuals as defendants, withdrew the claims under the Securities Act, 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. In response to the amended complaint, the defendants filed a motion to dismiss. In the plaintiffs' opposition brief filed on September 9, 2019, the plaintiffs withdrew their Investment Advisers Act claims. On November 12, 2019 the district court granted defendants' motion to dismiss the second amended complaint and entered judgment in favor of defendants. On December 11, 2019, plaintiffs filed a notice of appeal of the district court's order dismissing the case. Edward Jones and its affiliated entities and individuals deny the allegations and intend to continue to vigorously defend this lawsuit on appeal. Discrimination Class Action . On May 24, 2018, Edward Jones and JFC were named as defendants in a putative class action lawsuit ( ) filed in the U.S. District Court for the Northern District of Illinois by a former financial advisor. An amended complaint was filed on September 24, 2018, under 42 U.S.C. § 1981, alleging that the defendants discriminated against the former financial advisor and financial advisor trainees on the basis of race. On November 26, 2018, the plaintiffs filed a second amended complaint adding an allegation of discrimination of Title VII of the Civil Rights Act of 1964. The lawsuit seeks equitable and injunctive relief, as well as compensatory and punitive damages. Edward Jones and JFC deny the allegations and intend to vigorously defend this lawsuit. Reimbursement Class Action. On April 25, 2019, Edward Jones and JFC were named as defendants in a putative class action ( ) filed by two former financial advisors in the Superior Court of the State of California, Sacramento County. Plaintiffs allege that defendants did not reimburse financial advisors and financial advisor trainees in California for certain categories of business expenses, which plaintiffs allege violates the California Labor Code and California Unfair Competition Law. The lawsuit seeks damages and restitution as well as attorneys' fees and costs and equitable and injunctive relief. On February 19, 2020, the plaintiffs filed a motion seeking the court's approval of a proposed class action settlement reached by the parties. 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 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 $10 as of December 31, 2019. 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 December 31, 2019 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	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Information	NOTE 15 – 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 to assess performance. The Partnership evaluates segment performance based upon income (loss) before allocations to partners, as well as income before variable compensation (“pre-variable income”). Variable compensation is determined at the Partnership level for profit sharing and home office associate and branch office administrator bonus amounts, and therefore is allocated to each geographic segment independent of that segment’s individual pre-variable income. Financial advisor bonuses are determined by the overall Partnership’s profitability, as well as the performance of the individual financial advisors. Both income (loss) before allocations to partners and pre-variable income are considered in evaluating segment performance. Long-lived assets are not disclosed because the balances are not used for evaluating segment performance and deciding how to allocate resources to segments. However, total assets for each segment are provided for informational purposes, as well as capital expenditures and depreciation and amortization. The accounting policies of the segments are the same as those described in Note 1 – Summary of Significant Accounting Policies. For computation of segment information, the Partnership allocates costs incurred by the U.S. entity in support of Canada operations to the Canada segment. Canada segment information is based upon the Consolidated Financial Statements of the Partnership’s Canada operations without eliminating intercompany items, such as management fees paid to affiliated entities. The U.S. segment information is derived from the Consolidated Financial Statements less the Canada segment information as presented. This is consistent with how management reviews the segments in order to assess performance. The following table shows financial information for the Partnership’s reportable segments for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Net revenue: U.S. $ 9,127 $ 8,233 $ 7,305 Canada 242 236 201 Total net revenue $ 9,369 $ 8,469 $ 7,506 Net interest and dividends revenue: U.S. $ 249 $ 228 $ 170 Canada 10 9 4 Total net interest and dividends revenue $ 259 $ 237 $ 174 Pre-variable income: U.S. $ 2,194 $ 1,972 $ 1,681 Canada 16 16 4 Total pre-variable income $ 2,210 $ 1,988 $ 1,685 Variable compensation: U.S. $ 1,094 $ 975 $ 795 Canada 24 23 18 Total variable compensation $ 1,118 $ 998 $ 813 Income (loss) before allocations to partners: U.S. $ 1,100 $ 997 $ 886 Canada (8 ) (7 ) (14 ) Total income before allocations to partners $ 1,092 $ 990 $ 872 Capital expenditures: U.S. $ 170 $ 102 $ 78 Canada 6 3 2 Total capital expenditures $ 176 $ 105 $ 80 Depreciation and amortization: U.S. $ 113 $ 92 $ 83 Canada 2 2 2 Total depreciation and amortization $ 115 $ 94 $ 85 Total assets at year end: U.S. $ 18,577 $ 15,187 $ 16,563 Canada 740 628 613 Total assets $ 19,317 $ 15,815 $ 17,176 Financial advisors at year end: U.S. 17,830 16,797 15,347 Canada 874 818 748 Total financial advisors 18,704 17,615 16,095

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Parties	NOTE 16 – RELATED PARTIES As of December 31, 2019, the Partnership leased approximately 10% of its branch office space from its financial advisors (see Note 2). The associated lease right-of-use asset and lease liability included in the Consolidated Statements of Financial Condition were both $83 at December 31, 2019. Lease cost related to these leases was $34 for the year ended December 31, 2019. Rent and other lease-related expenses were $32 and $30 for the years ended December 31, 2018 and 2017, respectively. These leases are executed and maintained in a similar manner as those entered into with third parties. Olive Street is the investment adviser to the eight sub-advised mutual funds comprising the BB Trust and has primary responsibility for setting overall investment strategies and selecting and managing sub-advisers, subject to the review and approval of the BB Trust's Board of Trustees. Olive Street has contractually agreed to waive any investment adviser fees above those amounts paid to the sub-advisers. The investment adviser fee revenue earned by Olive Street, included within asset-based fee revenue on the Consolidated Statements of Income, is offset by the expense paid to the sub-advisers, included within fund sub-adviser fees on the Consolidated Statements of Income. The total amounts recognized for the years ended December 31, 2019, 2018 and 2017 were $147, $123 and $91, respectively. As the investment adviser to the Money Market Fund, Passport Research has contractually agreed to waive fees and/or reimburse Fund operating expenses to the extent necessary to limit the annual operating expenses of the Money Market Fund. For the three years ended December 31, 2019, 2018 and 2017, Passport Research earned $58, $48 and $39, respectively, in investment management fees with no waived fees in those periods. Further, Edward Jones earns certain fees from the Money Market Fund, some of which may be voluntarily waived. For the three years ended December 31, 2019, 2018 and 2017, total fees earned were $138, $113 and $98, respectively, net of the $30, $30 and $22 of waived fees in the respective periods. In the normal course of business, partners and associates of the Partnership and its affiliates use the same advisory, brokerage and trust services of the Partnership as unrelated third parties, with certain discounts on commissions and fees for certain services. The Partnership has included balances arising from such transactions in the Consolidated Financial Statements on the same basis as other clients. The Partnership recognizes interest income for the interest earned from partners who elect to finance a portion or all of their Partnership capital contributions through loans made available from the Partnership (see Note 9).

Quarterly Information

Quarterly Information	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Information	NOTE 17 – QUARTERLY INFORMATION (Unaudited) 2019 Quarters Ended Mar 29 Jun 28 Sep 27 Dec 31 Net revenue $ 2,190 $ 2,319 $ 2,367 $ 2,493 Income before allocations to partners $ 241 $ 285 $ 281 $ 285 Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 29.20 $ 34.55 $ 33.93 $ 34.54 2018 Quarters Ended Mar 30 Jun 29 Sep 28 Dec 31 Net revenue $ 2,042 $ 2,083 $ 2,191 $ 2,153 Income before allocations to partners $ 233 $ 240 $ 273 $ 244 Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 30.16 $ 31.02 $ 35.42 $ 31.53

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	12 Months Ended
	Dec. 31, 2019
Offsetting [Abstract]
Offsetting Assets and Liabilities	NOTE 18 – 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 December 31, 2019 and 2018: Gross Net amounts Gross amounts not offset offset in the presented in the Consolidated Gross Consolidated Consolidated Statements of Financial amounts of Statements of Statements Condition recognized Financial Financial Financial Securities assets Condition Condition instruments collateral (1) Net 2019 $ 1,693 — 1,693 — (1,693 ) $ — 2018 $ 911 — 911 — (911 ) $ — (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	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	NOTE 19 – CASH FLOW INFORMATION The following table shows supplemental cash flow information for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Cash paid for interest $ 157 $ 125 $ 90 Cash paid for taxes $ 10 $ 10 $ 10 Non-cash activities: Issuance of general partnership interests through partnership loans in current year $ 164 $ 170 $ 142 Repayment of partnership loans through distributions from partnership capital in current year $ 136 $ 135 $ 111 Declared distributions for retired partnership capital in current year but unpaid at year end (1) $ 113 $ 97 $ — (1) Declared distributions for retired Partnership capital are included in the accounts payable, accrued expenses and other line of the Consolidated Statements of Financial Condition. 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 for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Cash and cash equivalents $ 1,014 $ 1,498 $ 846 Cash and investments segregated under federal regulations 10,387 8,241 10,099 Less: Investments segregated under federal regulations 3,394 1,002 2,408 Total cash, cash equivalents and restricted cash $ 8,007 $ 8,737 $ 8,537 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.

Parent Company Only Financial S

Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Parent Company Only Financial Statements	THE JONES FINANCIAL COMPANIES, L.L.L.P. (Parent Company Only) December 31, December 31, (Dollars in millions) 2019 2018 ASSETS: Cash and cash equivalents $ 320 $ 318 Investment securities 2 7 Investment in subsidiaries 3,109 2,596 Other assets 49 33 TOTAL ASSETS $ 3,480 $ 2,954 LIABILITIES: Accounts payable and accrued expenses $ 116 $ 99 Partnership capital subject to mandatory redemption $ 3,364 $ 2,855 TOTAL LIABILITIES $ 3,480 $ 2,954 THE JONES FINANCIAL COMPANIES, L.L.L.P. (Parent Company Only) For the Years Ended December 31, (Dollars in millions) 2019 2018 2017 NET REVENUE Subsidiary earnings $ 1,064 $ 970 $ 858 Management fee income 1,411 99 99 Other 29 22 15 Total revenue 2,504 1,091 972 Interest expense 94 67 67 Net revenue 2,410 1,024 905 OPERATING EXPENSES Compensation and benefits 1,317 33 31 Other operating expenses 1 1 2 Total operating expenses 1,318 34 33 INCOME BEFORE ALLOCATIONS TO PARTNERS $ 1,092 $ 990 $ 872 Allocations to partners (1,092 ) (990 ) (872 ) NET INCOME $ — $ — $ — THE JONES FINANCIAL COMPANIES, L.L.L.P. (Parent Company Only) For the Years Ended December 31, (Dollars in millions) 2019 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ — $ — $ — Adjustments to reconcile net income to net cash provided by operating activities: Income before allocations to partners 1,092 990 872 Changes in assets and liabilities: Investment in subsidiaries (513 ) (134 ) (312 ) Investment securities 5 — 2 Other assets (16 ) (14 ) — Accounts payable and accrued expenses 1 1 1 Net cash provided by operating activities 569 843 563 CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of partnership interests 432 60 80 Redemption of partnership interests (216 ) (199 ) (193 ) Distributions from partnership capital (783 ) (694 ) (598 ) Net cash used in financing activities (567 ) (833 ) (711 ) Net increase (decrease) in cash and cash equivalents 2 10 (148 ) CASH AND CASH EQUIVALENTS: Beginning of year 318 308 456 End of year $ 320 $ 318 $ 308 NON-CASH ACTIVITIES: Issuance of general partnership interests through partnership loans in current year $ 164 $ 170 $ 142 Repayment of partnership loans through distributions from partnership capital in current year $ 136 $ 135 $ 111 Declaration of distributions from subsidiary in current year but received after year end $ 428 $ 56 $ 129 Declared distributions for retired partnership capital in current year but unpaid at year end $ 109 $ 97 $ —

Revenue and Expense

Revenue and Expense	12 Months Ended
	Dec. 31, 2019
Related Party Transaction [Line Items]
Related Parties	NOTE 16 – RELATED PARTIES As of December 31, 2019, the Partnership leased approximately 10% of its branch office space from its financial advisors (see Note 2). The associated lease right-of-use asset and lease liability included in the Consolidated Statements of Financial Condition were both $83 at December 31, 2019. Lease cost related to these leases was $34 for the year ended December 31, 2019. Rent and other lease-related expenses were $32 and $30 for the years ended December 31, 2018 and 2017, respectively. These leases are executed and maintained in a similar manner as those entered into with third parties. Olive Street is the investment adviser to the eight sub-advised mutual funds comprising the BB Trust and has primary responsibility for setting overall investment strategies and selecting and managing sub-advisers, subject to the review and approval of the BB Trust's Board of Trustees. Olive Street has contractually agreed to waive any investment adviser fees above those amounts paid to the sub-advisers. The investment adviser fee revenue earned by Olive Street, included within asset-based fee revenue on the Consolidated Statements of Income, is offset by the expense paid to the sub-advisers, included within fund sub-adviser fees on the Consolidated Statements of Income. The total amounts recognized for the years ended December 31, 2019, 2018 and 2017 were $147, $123 and $91, respectively. As the investment adviser to the Money Market Fund, Passport Research has contractually agreed to waive fees and/or reimburse Fund operating expenses to the extent necessary to limit the annual operating expenses of the Money Market Fund. For the three years ended December 31, 2019, 2018 and 2017, Passport Research earned $58, $48 and $39, respectively, in investment management fees with no waived fees in those periods. Further, Edward Jones earns certain fees from the Money Market Fund, some of which may be voluntarily waived. For the three years ended December 31, 2019, 2018 and 2017, total fees earned were $138, $113 and $98, respectively, net of the $30, $30 and $22 of waived fees in the respective periods. In the normal course of business, partners and associates of the Partnership and its affiliates use the same advisory, brokerage and trust services of the Partnership as unrelated third parties, with certain discounts on commissions and fees for certain services. The Partnership has included balances arising from such transactions in the Consolidated Financial Statements on the same basis as other clients. The Partnership recognizes interest income for the interest earned from partners who elect to finance a portion or all of their Partnership capital contributions through loans made available from the Partnership (see Note 9).
Parent Company [Member]
Related Party Transaction [Line Items]
Related Parties	NOTE 1 – REVENUE AND EXPENSE Beginning in 2019, the Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), had a written agreement with The Jones Financial Companies, L.L.L.P. (“JFC”) for the services of certain financial advisors who are service partners of JFC and not employees of Edward Jones. Pursuant to the agreement, Edward Jones made payments to the service partners of JFC on JFC's behalf for those services provided. This arrangement did not have an impact on net income but resulted in higher management fee income of $1.3 billion offset by higher compensation expense of $1.3 billion.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
The Partnership's Business and Basis of Accounting	The Partnership’s Business and Basis of Accounting. The accompanying Consolidated Financial Statements include the accounts of The Jones Financial Companies, L.L.L.P. and all wholly-owned subsidiaries (collectively, the “Partnership” or "JFC"). The financial position of the Partnership’s subsidiaries in Canada as of November 30, 2019 and 2018 are included in the Partnership's Consolidated Statements of Financial Condition and the results for the twelve month periods ended November 30, 2019, 2018 and 2017 are included in the Partnership’s Consolidated Statements of Income, Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption and Consolidated Statements of Cash Flows because of the timing of the Partnership’s financial reporting process. The Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), is a registered broker-dealer and investment adviser in the United States (“U.S.”), and one of Edward Jones’ subsidiaries 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. For financial information related to the Partnership’s two operating segments for the years ended December 31, 2019, 2018 and 2017, see Note 15 to the Consolidated Financial Statements. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“Trust Co.”), a wholly-owned subsidiary of the Partnership. Olive Street Investment Advisers, LLC, a wholly-owned subsidiary of the Partnership, provides investment advisory services to the eight sub-advised mutual funds comprising the Bridge Builder® Trust ("BB Trust"). Passport Research, Ltd., a wholly-owned subsidiary of the Partnership, provides investment advisory services to the sub-advised Edward Jones Money Market Fund ("Money Market Fund"). The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“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 evaluated subsequent events for recognition or disclosure through March 12, 2020, which was the date these Consolidated Financial Statements were available to be issued, and identified no matters requiring disclosure other than the events in Notes 8 and 14.
Partnership Agreement	Partnership Agreement. Under the terms of the Partnership’s Twentieth Amended and Restated Agreement of Registered Limited Liability Limited Partnership, dated August 6, 2018, (the “Partnership Agreement”), a partner’s capital is required to be redeemed by the Partnership in the event of the partner’s death or withdrawal from the Partnership, subject to compliance with ongoing regulatory capital requirements. In the event of a partner’s death, the Partnership generally redeems the partner’s capital within six months. The Partnership has restrictions in place which govern the withdrawal of capital. Under the terms of the Partnership Agreement, limited partners requesting withdrawal from the Partnership are to be repaid their capital in three equal annual installments beginning no earlier than 90 days after their withdrawal notice is received by the Managing Partner (as defined in the Partnership Agreement). The capital of general partners requesting withdrawal from the Partnership is converted to subordinated limited partnership capital or, at the discretion of the Managing Partner, redeemed by the Partnership. Subordinated limited partners requesting withdrawal are repaid their capital in six equal annual installments beginning no earlier than 90 days after their request for withdrawal of contributed capital is received by the Managing Partner. The Partnership’s Managing Partner has discretion to waive or modify these withdrawal restrictions and to accelerate the return of capital. All current and future Partnership capital is subordinate to all current and future liabilities of the Partnership. The Partnership Agreement includes additional terms.
Revenue Recognition	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 as well as contractual rates 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's contracts with mutual fund and insurance companies, along with the prospectuses for mutual funds, allow the Partnership to sell those companies' 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's contracts with mutual fund and insurance companies, along with the prospectuses for mutual funds, allow the Partnership to sell those companies' products to clients and earn certain commissions, which for mutual funds, are aligned with the terms of the mutual fund prospectuses. 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.
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. Foreign exchange gains and losses are included in other revenue on the Consolidated Statements of Income.
Fair Value	Fair Value. Substantially all of the Partnership’s financial assets and financial liabilities covered under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 820, Fair Value Measurement and Disclosure (“ASC 820”), are carried at fair value or at contracted amounts which approximate fair value given the short time to maturity. Fair value of a financial instrument is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, also known as the “exit price.” Financial assets are marked to bid prices and financial liabilities are marked to offer prices. The Partnership’s financial assets and financial liabilities recorded at fair value in the Consolidated Statements of Financial Condition are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC 820, with the related amount of subjectivity associated with the inputs to value these assets and liabilities at fair value for each level, are as follows: Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. The types of assets categorized as Level I generally are U.S. treasuries, investments in publicly traded mutual funds with quoted market prices, equities listed in active markets, and government and agency obligations. Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with related market data at the measurement date and for the duration of the instrument’s anticipated life. The Partnership uses the market approach valuation technique which incorporates third-party pricing services and other relevant observable information (such as market interest rates, yield curves, prepayment risk and credit risk generated by market transactions involving identical or comparable assets or liabilities) in valuing these types of investments. When third-party pricing services are used, the methods and assumptions used are reviewed by the Partnership. The types of assets categorized as Level II generally are certificates of deposit, state and municipal obligations and corporate bonds and notes. Level III – Inputs are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the inputs to the model. The Partnership did not have any assets or liabilities categorized as Level III during the years ended December 31, 2019 and 2018.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Partnership considers all highly liquid investments with original maturities of three months or less to be cash equivalents.
Cash and Investments Segregated under Federal Regulations	Cash and Investments Segregated under Federal Regulations. Cash, investments and the related interest receivable are segregated in special reserve bank accounts for the benefit of U.S. clients pursuant to the Customer Protection Rule 15c3-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
Securities Purchased Under Agreements to Resell	Securities Purchased Under Agreements to Resell. The Partnership participates in short-term resale agreements collateralized by government and agency securities. These transactions are reported as collateralized financing and are carried at cost with accrued interest in receivable from mutual funds, insurance companies and other within the Consolidated Statements of Financial Condition. The fair value of the underlying collateral, plus accrued interest, must equal or exceed 102% of the carrying amount of the transaction in U.S. agreements and must equal or exceed 100% of the carrying amount of the transaction in Canada agreements. It is the Partnership’s policy to have such underlying resale agreement collateral delivered to the Partnership or deposited in its accounts at its custodian banks. The Partnership considers these financing receivables to be of good credit quality and, as a result, has not recorded a related allowance for credit loss. In addition, the Partnership considers risk related to these resale agreements to be minimal due to the fact that these resale agreements are fully collateralized. The fair value of the collateral related to these agreements was $1,724 and $926 as of December 31, 2019 and 2018, respectively, and was not repledged or sold.
Collateral	Collateral. The Partnership reports as assets collateral it has pledged in secured borrowings and other arrangements when the secured party cannot sell or repledge the assets or the Partnership can substitute collateral or otherwise redeem it on short notice. The Partnership does not report collateral it has received in secured lending and other arrangements as an asset when the debtor has the right to redeem or substitute the collateral on short notice.
Securities Owned	Securities Owned . Securities owned, primarily consisting of investment securities, are recorded on a trade-date basis at fair value which is determined by using quoted market or dealer prices. The Partnership records the related unrealized gains and losses for inventory securities in trade revenue in the Consolidated Statement of Income. The unrealized gains and losses for investment securities are recorded in other revenue in the Consolidated Statement of Income.
Equipment, Property and Improvements	Equipment, Property and Improvements. Equipment, including furniture and fixtures, is recorded at cost and depreciated using straight-line and accelerated methods over estimated useful lives of three to ten years. Buildings are depreciated using the straight-line method over their useful lives, which are estimated at thirty years. Leasehold improvements are amortized based on the term of the lease or the economic useful life of the improvement, whichever is less. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation or amortization is removed from the respective category and any related gain or loss is recorded as other revenue in the Consolidated Statements of Income. The cost of maintenance and repairs is charged against income as incurred, whereas significant enhancements are capitalized. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the book value of the asset may not be fully recoverable. If impairment is indicated, the asset value is written down to its fair value.
Non-qualified Deferred Compensation Plan	Non-qualified Deferred Compensation Plan. The Partnership has a non-qualified deferred compensation plan for certain financial advisors. The Partnership has recorded a liability of $235 for the future payments due to financial advisors participating in the plan. As the future amounts due to financial advisors change in accordance with plan requirements, the Partnership records the change in future amounts owed to financial advisors as an increase or decrease in accrued compensation in the Consolidated Statements of Financial Condition and compensation and benefits expense in the Consolidated Statements of Income. The Partnership has chosen to economically hedge this future liability by purchasing securities in an amount similar to the future liability expected to be due in accordance with the plan. These securities are included in investment securities in the Consolidated Statements of Financial Condition and the unrealized gains and losses are recorded in other revenue in the Consolidated Statements of Income. Each period, the net impact of the change in future amounts owed to financial advisors in the non-qualified deferred compensation plan and the change in investment securities are approximately the same, resulting in minimal net impact in the Consolidated Financial Statements.
Retirement Transition Plans	Retirement Transition Plans. The Partnership, in certain circumstances, offers individually tailored retirement transition plans to retiring financial advisors. Each retirement transition plan compensates a retiring financial advisor for successfully providing client transition services in accordance with a retirement and transition agreement. Generally, the retirement and transition agreement is for five years. During the first two years the retiring financial advisor remains an employee and provides client transition services, which include, but are not limited to, the successful transition of client accounts and assets to successor financial advisors, as well as mentoring and providing training and support to successor financial advisors. The financial advisor retires at the end of year two and is subject to a non-compete agreement for three years. Most retiring financial advisors participating in a retirement transition plan are paid ratably over four years. Compensation expense is generally recognized ratably over the two-year transition period which aligns with the service period of most agreements, with compensation expense related to some plans recognized over one year depending on the size and complexity of the transition plan. As of December 31, 2019, $102 was accrued for future payments to advisors who have already started a plan, approximately $52 of which is expected to be paid in 2020. As of December 31, 2018, $94 was accrued. Successor financial advisors receive reduced compensation on transitioned assets for up to four years.
Lease Accounting	Lease Accounting. The Partnership leases branch office space under numerous operating leases from non-affiliates and financial advisors. Branch offices are generally leased for terms of five years and generally contain a renewal option. Renewal options are not included in the lease term if it is not reasonably certain the Partnership will exercise the renewal option. The Partnership also leases home office spaces and land from non-affiliates with terms ranging from 12 to 30 years. The Partnership recognizes lease liabilities for future lease payments and lease right-of-use assets for the right of use of an underlying asset within a contract. Current leases are all classified as operating leases. Lease right-of-use assets and lease liabilities are recognized on the Consolidated Statements of Financial Condition at commencement date and calculated as the present value of the sum of the remaining fixed lease payments over the lease term. Throughout the lease term, the lease right-of-use asset includes the impact from the timing of lease payments and straight-line rent expense. The Partnership used its incremental borrowing rate based on information available at lease commencement as leases do not contain a readily determinable implicit rate. A single lease cost, or rent expense, is recognized on a straight-line basis over the lease term. The Partnership does not separate lease components (i.e., fixed payments including rent, real estate taxes and insurance costs) from non-lease components (i.e., common-area maintenance) and recognizes them as a single lease component. Variable lease payments not included within lease contracts are expensed as incurred. See Note 2 for additional information.
Income Taxes	Income Taxes. Generally, income taxes have not been provided for in the Consolidated Financial Statements due to the partnership tax structure where each partner is liable for his or her own tax payments. For the jurisdictions in which the Partnership is liable for payments, the income tax provisions are immaterial (see Note 11).
Partnership Capital Subject to Mandatory Redemption	Partnership Capital Subject to Mandatory Redemption. FASB ASC No. 480, Distinguishing Liabilities from Equity (“ASC 480”), established standards for classifying and measuring certain financial instruments with characteristics of both liabilities and equity. Under the provisions of ASC 480, the obligation to redeem a partner’s capital in the event of a partner’s death is one of the criteria requiring capital to be classified as a liability. Since the Partnership Agreement obligates the Partnership to redeem a partner’s capital after a partner’s death, ASC 480 requires all of the Partnership’s equity capital to be classified as a liability. In accordance with ASC 480, income allocable to limited, subordinated limited and general partners is classified as a reduction of income before allocations to partners, which results in a presentation of $0 net income for the years ended December 31, 2019, 2018 and 2017. The financial statement presentations required to comply with ASC 480 do not alter the Partnership’s treatment of income, income allocations or capital for any other purposes. Net income, as defined in the Partnership Agreement, is equivalent to income before allocations to partners on the Consolidated Statements of Income. Such income, if any, for each calendar year is allocated to the Partnership’s three classes of capital in accordance with the formulas prescribed in the Partnership Agreement. Income allocations are based upon partner capital contributions including capital contributions financed with loans from the Partnership. First, limited partners are allocated net income (as defined in the Partnership Agreement) in accordance with the prescribed formula for their share of net income. Limited partners generally do not share in the net loss in any year in which there is a net loss and the Partnership is not dissolved or liquidated. Thereafter, subordinated limited partners and general partners are allocated any remaining net income or net loss based on formulas as defined in the Partnership Agreement. The limited partnership capital subject to mandatory redemption is held by current and former associates and general partners of the Partnership. Limited partners participate in the Partnership’s profits and are paid a minimum 7.5% annual return on the face amount of their capital (see Note 9) in accordance with the Partnership Agreement. The subordinated limited partnership capital subject to mandatory redemption is held by current and former general partners of the Partnership. Subordinated limited partners receive a percentage of the Partnership’s net income determined in accordance with the Partnership Agreement. The subordinated limited partnership capital subject to mandatory redemption is subordinated to the limited partnership capital. The general partnership capital subject to mandatory redemption is held by current general partners of the Partnership. General partners receive a percentage of the Partnership’s net income determined in accordance with the Partnership Agreement. The general partnership capital subject to mandatory redemption is subordinated to the limited partnership capital and the subordinated limited partnership capital.
Advertising	Advertising. Advertising activities include the cost to produce and distribute campaigns market wide to attract and retain clients and financial advisors. Such costs are generally expensed when incurred.
Recently Issued and Adopted Accounting Standards	Recently Issued and Adopted Accounting Standards. In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) (“ASC 842”), which requires lessees to recognize leases with terms greater than 12 months on the balance sheet as lease right-of-use assets and lease liabilities. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) , which allows an entity to recognize a cumulative-effect adjustment to the opening balance of Partnership capital in the period of adoption and prior periods do not have to be restated. Effective January 1, 2019, the Partnership adopted ASC 842 and recorded a lease right-of-use asset of $785 and lease liability of $805 related to the Partnership's branch office network and home offices. The lease right-of-use asset was reduced by $20 for deferred rent on existing leases at adoption. The cumulative-effect adjustment to the opening balance of Partnership capital was zero and prior periods were not restated. The Partnership elected the package of practical expedients for leases that commenced prior to January 1, 2019, which allowed the Partnership to not reassess whether any contracts are or contain leases, lease classification for expired or existing leases, and initial direct costs for existing leases. There was no material impact on the Consolidated Statements of Income, Consolidated Statements of Cash Flows or net capital requirements of Edward Jones. See Note 2 for additional information. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement Fair Value Measurement In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (
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

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Future Undiscounted Cash Outflows for Operating Leases	The Partnership's future undiscounted cash outflows for operating leases as of December 31, 2019 are summarized below: 2020 $ 283 2021 239 2022 183 2023 128 2024 65 Thereafter 63 Total lease payments 961 Less: Interest 63 Total present value of lease liabilities $ 898
Partnership's Non-cancellable Long-term Lease Commitments	Under ASC 840 , Leases, 2019 $ 182 2020 56 2021 39 2022 19 2023 9 Thereafter 10 Total $ 315

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Schedule of Partnership's Disaggregated Revenue	The following table shows the Partnership's disaggregated revenue information for the years ended December 31, 2019, 2018 and 2017: 2019 U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 4,740 $ 70 $ 4,810 Service fees 1,241 88 1,329 Other asset-based fees 639 — 639 Total asset-based fee revenue 6,620 158 6,778 Account and activity fee revenue: Shareholder accounting services fees 432 — 432 Other account and activity fee revenue 229 13 242 Total account and activity fee revenue 661 13 674 Total fee revenue 7,281 171 7,452 Trade revenue: Commissions 1,428 47 1,475 Principal transactions 102 4 106 Total trade revenue 1,530 51 1,581 Total revenue from customers 8,811 222 9,033 Net interest and dividends and other revenue 316 20 336 Net revenue $ 9,127 $ 242 $ 9,369 2018 U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 4,156 $ 58 $ 4,214 Service fees 1,218 87 1,305 Other asset-based fees 556 — 556 Total asset-based fee revenue 5,930 145 6,075 Account and activity fee revenue: Shareholder accounting services fees 432 — 432 Other account and activity fee revenue 232 14 246 Total account and activity fee revenue 664 14 678 Total fee revenue 6,594 159 6,753 Trade revenue: Commissions 1,271 49 1,320 Principal transactions 137 5 142 Total trade revenue 1,408 54 1,462 Total revenue from customers 8,002 213 8,215 Net interest and dividends and other revenue 231 23 254 Net revenue $ 8,233 $ 236 $ 8,469 2017 U.S. Canada Total Fee revenue: Asset-based fee revenue: Advisory programs fees $ 3,299 $ 42 $ 3,341 Service fees 1,180 79 1,259 Other asset-based fees 447 — 447 Total asset-based fee revenue 4,926 121 5,047 Account and activity fee revenue: Shareholder accounting services fees 412 — 412 Other account and activity fee revenue 254 12 266 Total account and activity fee revenue 666 12 678 Total fee revenue 5,592 133 5,725 Trade revenue: Commissions 1,355 52 1,407 Principal transactions 137 3 140 Total trade revenue 1,492 55 1,547 Total revenue from customers 7,084 188 7,272 Net interest and dividends and other revenue 221 13 234 Net revenue $ 7,305 $ 201 $ 7,506

Receivable from Mutual Funds,_2

Receivable from Mutual Funds, Insurance Companies, and Other (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Composition of Partnership's Receivable from Mutual Funds, Insurance Companies and Other	The following table shows the Partnership's receivable from mutual funds, insurance companies and other as of December 31, 2019 and 2018: 2019 2018 Deposit for Canadian retirement accounts $ 326 $ 273 Fees from mutual fund and insurance companies 291 278 Other receivables 44 4 Total $ 661 $ 555

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Partnership's Financial Assets at Fair Value	The following tables show the Partnership's financial instruments measured at fair value: Financial Assets at Fair Value as of December 31, 2019 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 326 $ — $ 326 Investments segregated under federal regulations: U.S. treasuries $ 3,394 $ — $ — $ 3,394 Securities owned: Investment securities: Mutual funds (1) $ 328 $ — $ — $ 328 Government and agency obligations 3 — — 3 Equities 1 — — 1 Corporate bonds and notes — — — — Total investment securities $ 332 $ — $ — $ 332 Inventory securities: Equities $ 18 $ — $ — $ 18 State and municipal obligations — 18 — 18 Certificates of deposit — 9 — 9 Corporate bonds and notes — 3 — 3 Mutual funds 2 — — 2 Total inventory securities $ 20 $ 30 $ — $ 50 Financial Assets at Fair Value as of December 31, 2018 Level I Level II Level III Total Cash equivalents: Certificates of deposit $ — $ 298 $ — $ 298 Investments segregated under federal regulations: U.S. treasuries $ 998 $ — $ — $ 998 Securities owned: Investment securities: Mutual funds (1) $ 244 $ — $ — $ 244 Government and agency obligations 3 — — 3 Equities 2 — — 2 Corporate bonds and notes — 1 — 1 Total investment securities $ 249 $ 1 $ — $ 250 Inventory securities: Equities $ 16 $ — $ — $ 16 State and municipal obligations — 15 — 15 Mutual funds 6 — — 6 Certificates of deposit — 3 — 3 Corporate bonds and notes — 3 — 3 Total inventory securities $ 22 $ 21 $ — $ 43 (1) The mutual funds balance consists primarily of securities held to economically hedge future liabilities related to the non-qualified deferred compensation plan. The balance also includes securities held in relation to profit sharing contributions on behalf of service partners and a security held for regulatory purposes at the Trust Co.

Equipment, Property and Impro_2

Equipment, Property and Improvements (Tables)	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Composition of Partnership's Equipment, Property and Improvements	The following table shows equipment, property and improvements as of December 31, 2019 and 2018: 2019 2018 Buildings and improvements $ 1,012 $ 978 Equipment, furniture and fixtures 713 658 Land 43 27 Equipment, property and improvements, at cost 1,768 1,663 Accumulated depreciation and amortization 1,152 1,108 Equipment, property and improvements, net $ 616 $ 555

Lines of Credit (Tables)

Lines of Credit (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [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 December 31, 2019 and 2018: 2019 2018 2018 Credit Facility $ 500 $ 500 Uncommitted secured credit facilities 290 290 Total bank lines of credit $ 790 $ 790

Partnership Capital Subject t_2

Partnership Capital Subject to Mandatory Redemption (Tables)	12 Months Ended
	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Roll Forward of Outstanding Partnership Loans	The following table shows the roll forward of outstanding Partnership loans for the years ended December 31, 2019 and 2018: 2019 2018 Partnership loans outstanding at beginning of year $ 332 $ 297 Partnership loans issued during the year 164 170 Repayment of Partnership loans during the year (136 ) (135 ) Total Partnership loans outstanding $ 360 $ 332

Net Capital Requirements (Table

Net Capital Requirements (Tables)	12 Months Ended
	Dec. 31, 2019
Brokers And Dealers [Abstract]
Partnership's Capital Figures for U.S. and Canada Broker-Dealer Subsidiaries	The following table shows the Partnership’s capital figures for its U.S. and Canada broker-dealer subsidiaries as of December 31, 2019 and 2018: 2019 2018 U.S.: Net capital $ 1,244 $ 1,280 Net capital in excess of the minimum required $ 1,188 $ 1,221 Net capital as a percentage of aggregate debit items 44.2 % 43.6 % Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items 26.4 % 28.3 % Canada: Regulatory risk-adjusted capital $ 40 $ 40 Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC $ 38 $ 39

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Financial Information for Partnership's Reportable Segments	The following table shows financial information for the Partnership’s reportable segments for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Net revenue: U.S. $ 9,127 $ 8,233 $ 7,305 Canada 242 236 201 Total net revenue $ 9,369 $ 8,469 $ 7,506 Net interest and dividends revenue: U.S. $ 249 $ 228 $ 170 Canada 10 9 4 Total net interest and dividends revenue $ 259 $ 237 $ 174 Pre-variable income: U.S. $ 2,194 $ 1,972 $ 1,681 Canada 16 16 4 Total pre-variable income $ 2,210 $ 1,988 $ 1,685 Variable compensation: U.S. $ 1,094 $ 975 $ 795 Canada 24 23 18 Total variable compensation $ 1,118 $ 998 $ 813 Income (loss) before allocations to partners: U.S. $ 1,100 $ 997 $ 886 Canada (8 ) (7 ) (14 ) Total income before allocations to partners $ 1,092 $ 990 $ 872 Capital expenditures: U.S. $ 170 $ 102 $ 78 Canada 6 3 2 Total capital expenditures $ 176 $ 105 $ 80 Depreciation and amortization: U.S. $ 113 $ 92 $ 83 Canada 2 2 2 Total depreciation and amortization $ 115 $ 94 $ 85 Total assets at year end: U.S. $ 18,577 $ 15,187 $ 16,563 Canada 740 628 613 Total assets $ 19,317 $ 15,815 $ 17,176 Financial advisors at year end: U.S. 17,830 16,797 15,347 Canada 874 818 748 Total financial advisors 18,704 17,615 16,095

Quarterly Information (Tables)

Quarterly Information (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Information	2019 Quarters Ended Mar 29 Jun 28 Sep 27 Dec 31 Net revenue $ 2,190 $ 2,319 $ 2,367 $ 2,493 Income before allocations to partners $ 241 $ 285 $ 281 $ 285 Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 29.20 $ 34.55 $ 33.93 $ 34.54 2018 Quarters Ended Mar 30 Jun 29 Sep 28 Dec 31 Net revenue $ 2,042 $ 2,083 $ 2,191 $ 2,153 Income before allocations to partners $ 233 $ 240 $ 273 $ 244 Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 30.16 $ 31.02 $ 35.42 $ 31.53

Offsetting Assets and Liabili_2

Offsetting Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
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 December 31, 2019 and 2018: Gross Net amounts Gross amounts not offset offset in the presented in the Consolidated Gross Consolidated Consolidated Statements of Financial amounts of Statements of Statements Condition recognized Financial Financial Financial Securities assets Condition Condition instruments collateral (1) Net 2019 $ 1,693 — 1,693 — (1,693 ) $ — 2018 $ 911 — 911 — (911 ) $ — (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)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table shows supplemental cash flow information for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Cash paid for interest $ 157 $ 125 $ 90 Cash paid for taxes $ 10 $ 10 $ 10 Non-cash activities: Issuance of general partnership interests through partnership loans in current year $ 164 $ 170 $ 142 Repayment of partnership loans through distributions from partnership capital in current year $ 136 $ 135 $ 111 Declared distributions for retired partnership capital in current year but unpaid at year end (1) $ 113 $ 97 $ — (1) Declared distributions for retired Partnership capital are included in the accounts payable, accrued expenses and other line of the Consolidated Statements of Financial Condition.
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 for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Cash and cash equivalents $ 1,014 $ 1,498 $ 846 Cash and investments segregated under federal regulations 10,387 8,241 10,099 Less: Investments segregated under federal regulations 3,394 1,002 2,408 Total cash, cash equivalents and restricted cash $ 8,007 $ 8,737 $ 8,537

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)SegmentCapital_RepaymentCapitalClass	Dec. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)Segment	Jan. 01, 2019USD ($)
Basis Of Presentation [Line Items]
Number of operating segments | Segment	2	2	2
Period for partner's capital redemption in the event of death	6 months
Number of annual capital repayments for withdrawal of limited partners | Segment	3
Period to begin repaying capital upon withdrawal for limited partners	90 days
Number of annual capital repayments for withdrawal of subordinated limited partners | Capital_Repayment	6
Period to begin repaying capital upon withdrawal for subordinated limited partners	90 days
Fair value of level III, assets	$ 0	$ 0
Fair value of level III, liabilities	0	0
Fair value of collateral related to resell agreements	$ 1,724,000,000	926,000,000
Retirement and transition employment agreement term	5 years
Retirement transition plan employment term	2 years
Retirement transition plan non-compete term	3 years
Retirement transition plan compensation paid term	4 years
Retirement transition plan accrued future payments	$ 102,000,000	94,000,000
Retirement transition plan accrued future payments expected to be paid in 2020	52,000,000
Net income	$ 0	$ 0	$ 0
Number of classes of capital | CapitalClass	3
Limited partnership's minimum annual return rate	7.50%	7.50%	7.50%
Lease right-of-use asset	$ 876,000,000	$ 0
Lease liability	$ 898,000,000	$ 0
ASC 842 [Member]
Basis Of Presentation [Line Items]
Lease right-of-use asset				$ 785,000,000
Lease liability				805,000,000
Reduction in right-of-use asset for deferred rent				20,000,000
Cumulative-effect adjustment to the opening balance of Partnership capital				$ 0
Building [Member]
Basis Of Presentation [Line Items]
Equipment, property and improvements estimated useful lives	30 years
Branch Office Space [Member]
Basis Of Presentation [Line Items]
Lessee, operating lease, description	The Partnership leases branch office space under numerous operating leases from non-affiliates and financial advisors. Branch offices are generally leased for terms of five years and generally contain a renewal option.
Lessee, operating lease term of contract	5 years
Lessee Operating Lease Home Office Spaces [Member]
Basis Of Presentation [Line Items]
Lessee, operating lease, description	The Partnership also leases home office spaces and land from non-affiliates with terms ranging from 12 to 30 years.
United States [Member]
Basis Of Presentation [Line Items]
Fair value of underlying collateral as percentage of carrying value of transaction	102.00%	102.00%
Canada [Member]
Basis Of Presentation [Line Items]
Fair value of underlying collateral as percentage of carrying value of transaction	100.00%	100.00%
Minimum [Member]
Basis Of Presentation [Line Items]
Retirement transition plan compensation expense term	1 year
Minimum [Member] | Equipment [Member]
Basis Of Presentation [Line Items]
Equipment, property and improvements estimated useful lives	3 years
Minimum [Member] | Lessee Operating Lease Home Office Spaces [Member]
Basis Of Presentation [Line Items]
Lessee, operating lease term of contract	12 years
Maximum [Member]
Basis Of Presentation [Line Items]
Retirement transition plan compensation expense term	2 years
Retirement transition plan compensation on transitioned assets term	4 years
Maximum [Member] | Equipment [Member]
Basis Of Presentation [Line Items]
Equipment, property and improvements estimated useful lives	10 years
Maximum [Member] | Lessee Operating Lease Home Office Spaces [Member]
Basis Of Presentation [Line Items]
Lessee, operating lease term of contract	30 years
Securities Purchase Agreement [Member] | Minimum [Member] | United States [Member]
Basis Of Presentation [Line Items]
Fair value of underlying collateral as percentage of carrying value of transaction	102.00%
Securities Purchase Agreement [Member] | Minimum [Member] | Canada [Member]
Basis Of Presentation [Line Items]
Fair value of underlying collateral as percentage of carrying value of transaction	100.00%

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee Disclosure [Abstract]
Cash paid for operating leases	$ 283
Right-of-use assets obtained in exchange for operating lease liabilities	$ 360
Weighted average remaining lease term in years	4 years
Weighted average discount rate	3.20%
Operating lease, cost	$ 280
Variable lease costs not included in the lease liability	55
Total lease cost	$ 335
Rent and other lease-related expenses		$ 305	$ 284

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Cash Outflows for Operating Leases (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Lessee Disclosure [Abstract]
2020	$ 283
2021	239
2022	183
2023	128
2024	65
Thereafter	63
Total lease payments	961
Less: Interest	63
Lease liabilities	$ 898	$ 0

Leases - Partnership's Non-canc

Leases - Partnership's Non-cancellable Long-term Lease Commitments (Detail) $ in Millions	Dec. 31, 2018USD ($)
Lessee Disclosure [Abstract]
2019	$ 182
2020	56
2021	39
2022	19
2023	9
Thereafter	10
Total	$ 315

Revenue - Schedule of Partnersh

Revenue - Schedule of Partnership's Disaggregated Revenue (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation Of Revenue [Line Items]
Net revenue									$ 9,033	$ 8,215	$ 7,272
Net interest and dividends and other revenue									336	254	234
Net revenue	$ 2,493	$ 2,367	$ 2,319	$ 2,190	$ 2,153	$ 2,191	$ 2,083	$ 2,042	9,369	8,469	7,506
United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									8,811	8,002	7,084
Net interest and dividends and other revenue									316	231	221
Net revenue									9,127	8,233	7,305
Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									222	213	188
Net interest and dividends and other revenue									20	23	13
Net revenue									242	236	201
Asset-based Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									6,778	6,075	5,047
Asset-based Fee Revenue [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									4,810	4,214	3,341
Asset-based Fee Revenue [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									1,329	1,305	1,259
Asset-based Fee Revenue [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									639	556	447
Asset-based Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									6,620	5,930	4,926
Asset-based Fee Revenue [Member] | United States [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									4,740	4,156	3,299
Asset-based Fee Revenue [Member] | United States [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									1,241	1,218	1,180
Asset-based Fee Revenue [Member] | United States [Member] | Other Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									639	556	447
Asset-based Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									158	145	121
Asset-based Fee Revenue [Member] | Canada [Member] | Advisory Programs Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									70	58	42
Asset-based Fee Revenue [Member] | Canada [Member] | Service Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									88	87	79
Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									674	678	678
Account and Activity Fee Revenue [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									432	432	412
Account and Activity Fee Revenue [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									242	246	266
Account and Activity Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									661	664	666
Account and Activity Fee Revenue [Member] | United States [Member] | Shareholder Accounting Services Fees [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									432	432	412
Account and Activity Fee Revenue [Member] | United States [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									229	232	254
Account and Activity Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									13	14	12
Account and Activity Fee Revenue [Member] | Canada [Member] | Other Account and Activity Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									13	14	12
Total Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									7,452	6,753	5,725
Total Fee Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									7,281	6,594	5,592
Total Fee Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									171	159	133
Trade Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									1,581	1,462	1,547
Trade Revenue [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									1,475	1,320	1,407
Trade Revenue [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									106	142	140
Trade Revenue [Member] | United States [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									1,530	1,408	1,492
Trade Revenue [Member] | United States [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									1,428	1,271	1,355
Trade Revenue [Member] | United States [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									102	137	137
Trade Revenue [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									51	54	55
Trade Revenue [Member] | Canada [Member] | Commissions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									47	49	52
Trade Revenue [Member] | Canada [Member] | Principal Transactions [Member]
Disaggregation Of Revenue [Line Items]
Net revenue									$ 4	$ 5	$ 3

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - Customer	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation Of Revenue [Line Items]
Number of customers	1	1	1
Sales Revenue Net [Member] | Customer [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	14.00%	14.00%	16.00%

Receivable From and Payable t_2

Receivable From and Payable to Clients - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Client Receivables And Payables [Abstract]
Collateral held	$ 3,915	$ 4,076
Total interest paid to clients	62	58	$ 23
Receivable from clients balance	$ 470	$ 377	$ 346

Receivable from Mutual Funds,_3

Receivable from Mutual Funds, Insurance Companies, and Other - Composition of Partnership's Receivable from Mutual Funds, Insurance Companies and Other (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Brokers And Dealers [Abstract]
Deposit for Canadian retirement accounts	$ 326	$ 273
Fees from mutual fund and insurance companies	291	278	$ 279
Other receivables	44	4
Total	$ 661	$ 555

Receivable from Mutual Funds,_4

Receivable from Mutual Funds, Insurance Companies, and Other - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Fees from mutual fund and insurance companies	$ 291	$ 278	$ 279

Fair Value - Partnership's Fina

Fair Value - Partnership's Financial Assets at Fair Value (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Investment securities:
Total investment securities	$ 332	$ 250
Inventory securities:
Total inventory securities	50	43
Equities [Member]
Investment securities:
Total investment securities	1	2
Inventory securities:
Total inventory securities	18	16
Corporate Bonds and Notes [Member]
Investment securities:
Total investment securities		1
Inventory securities:
Total inventory securities	3	3
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	3,394	998
Mutual Funds [Member]
Investment securities:
Total investment securities	328	244
Inventory securities:
Total inventory securities	2	6
State and Municipal Obligations [Member]
Inventory securities:
Total inventory securities	18	15
Certificates of Deposit [Member]
Cash equivalents:
Cash and cash equivalents	326	298
Inventory securities:
Total inventory securities	9	3
Level I [Member]
Investment securities:
Total investment securities	332	249
Inventory securities:
Total inventory securities	20	22
Level I [Member] | Equities [Member]
Investment securities:
Total investment securities	1	2
Inventory securities:
Total inventory securities	18	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	3,394	998
Level I [Member] | Mutual Funds [Member]
Investment securities:
Total investment securities	328	244
Inventory securities:
Total inventory securities	2	6
Level II [Member]
Investment securities:
Total investment securities		1
Inventory securities:
Total inventory securities	30	21
Level II [Member] | Corporate Bonds and Notes [Member]
Investment securities:
Total investment securities		1
Inventory securities:
Total inventory securities	3	3
Level II [Member] | State and Municipal Obligations [Member]
Inventory securities:
Total inventory securities	18	15
Level II [Member] | Certificates of Deposit [Member]
Cash equivalents:
Cash and cash equivalents	326	298
Inventory securities:
Total inventory securities	$ 9	$ 3

Equipment, Property and Impro_3

Equipment, Property and Improvements - Composition of Partnership's Equipment, Property and Improvements (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Equipment, property and improvements, at cost	$ 1,768	$ 1,663
Accumulated depreciation and amortization	1,152	1,108
Equipment, property and improvements, net	616	555
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Equipment, property and improvements, at cost	1,012	978
Equipment, Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Equipment, property and improvements, at cost	713	658
Land [Member]
Property, Plant and Equipment [Line Items]
Equipment, property and improvements, at cost	$ 43	$ 27

Equipment, Property and Impro_4

Equipment, Property and Improvements - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 115	$ 94	$ 85
Purchase of equipment, property and improvements, net	176	$ 105	$ 80
Industrial revenue bonds maturity period		10 years
Amount issued related to industrial revenue bonds	$ 0	$ 270

Lines of Credit - Composition o

Lines of Credit - Composition of Partnership's Aggregate Bank Lines of Credit (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Sep. 28, 2018
Line Of Credit Facility [Line Items]
Line of credit facility	$ 790,000,000	$ 790,000,000
2018 Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility	500,000,000	500,000,000	$ 500,000,000
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		12 Months Ended
	Feb. 28, 2020	Sep. 28, 2018	Dec. 31, 2019	Dec. 31, 2018
Line Of Credit Facility [Line Items]
Line of credit facility			$ 790,000,000	$ 790,000,000
2018 Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility		$ 500,000,000	$ 500,000,000	$ 500,000,000
Maximum leverage ratio required to be maintained by partnership		35.00%	35.00%	35.00%
Required minimum partnership capital, net of reserve for anticipated withdrawals and partnership loans		$ 1,884,000,000	$ 1,884,000,000	$ 1,884,000,000
Amount outstanding under credit facility			0	0
Partnership draws against lines of credit			0	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	$ 1,344,000,000
Minimum regulatory net capital percentage of debit items		6.00%	6.00%	6.00%
Uncommitted Secured Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Line of credit facility			$ 290,000,000	$ 290,000,000
Amount outstanding under credit facility			0	0
Partnership draws against lines of credit			$ 0	$ 0
Uncommitted Credit Facilities [Member] | Subsequent Event
Line Of Credit Facility [Line Items]
Line of credit facility	$ 390,000,000
Uncommitted Unsecured Credit Facilities [Member] | Subsequent Event
Line Of Credit Facility [Line Items]
Line of credit facility	$ 250,000,000
Uncommitted Unsecured Credit Facilities [Member] | Subsequent Event | Maximum [Member]
Line Of Credit Facility [Line Items]
Duration of uncommitted lines of credit unsecured after borrowing	3 days

Partnership Capital Subject t_3

Partnership Capital Subject to Mandatory Redemption - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 02, 2020	Jan. 02, 2019	Jan. 12, 2018	Dec. 31, 2016
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	$ 360	$ 332	$ 297				$ 266
Interest income from outstanding amount of general partner loan	$ 21	$ 17	$ 13
Limited partnership's minimum annual return rate	7.50%	7.50%	7.50%
Limited partnership's minimum return, value	$ 94	$ 67	$ 67
2018 Limited Partnership Offering [Member]
Partners Capital Account [Line Items]
Limited partnership amount registered						$ 450
Limited partnership interests issued				$ 1	$ 380
Remaining limited partnership interests that may be issued	$ 69

Partnership Capital Subject t_4

Partnership Capital Subject to Mandatory Redemption - Roll Forward of Outstanding Partnership Loans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Partners Capital Notes [Abstract]
Partnership loans outstanding at beginning of year	$ 332	$ 297
Partnership loans issued during the year	164	170
Repayment of Partnership loans during the year	(136)	(135)
Partnership loans outstanding at end of year	$ 360	$ 332

Net Capital Requirements - Addi

Net Capital Requirements - Additional Information (Detail) - Edward D. Jones & Co., L. P [Member]	12 Months Ended
	Dec. 31, 2019USD ($)
Net Capital Requirements [Line Items]
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 Capital Figures for U.S. and Canada Broker-Dealer Subsidiaries (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Edward D. Jones & Co., L. P [Member]
Regulatory Capital Requirements
Net capital	$ 1,244	$ 1,280
Net capital in excess of the minimum required	$ 1,188	$ 1,221
Net capital as a percentage of aggregate debit items	44.20%	43.60%
Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items	26.40%	28.30%
Canada [Member]
Regulatory Capital Requirements
Regulatory risk-adjusted capital	$ 40	$ 40
Regulatory risk-adjusted capital in excess of the minimum required to be held by IIROC	$ 38	$ 39

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Partnership's tax basis of assets and liabilities exceeds book basis	$ 303	$ 300
Income tax examination, Likelihood of unfavorable settlement	greater than fifty percent
Uncertain tax positions	$ 0	$ 0

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Partnership's contribution to compensation plans	$ 213	$ 197	$ 178
Amount withheld for contribution to compensation plans	$ 32

Commitments, Guarantees and R_2

Commitments, Guarantees and Risks - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Termination fees	$ 114
Expiration period of termination fee	3 years

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	Dec. 31, 2019USD ($)
Maximum [Member]
Loss Contingencies [Line Items]
Current estimated possible loss	$ 10

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting [Abstract]
Number of operating segments	2	2	2
Number of reportable segments	2

Segment Information - Financial

Segment Information - Financial Information for Partnership's Reportable Segments (Detail) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)Advisor	Sep. 27, 2019USD ($)	Jun. 28, 2019USD ($)	Mar. 29, 2019USD ($)	Dec. 31, 2018USD ($)Advisor	Sep. 28, 2018USD ($)	Jun. 29, 2018USD ($)	Mar. 30, 2018USD ($)	Dec. 31, 2019USD ($)Advisor	Dec. 31, 2018USD ($)Advisor	Dec. 31, 2017USD ($)Advisor
Net revenue:
Total net revenue	$ 2,493	$ 2,367	$ 2,319	$ 2,190	$ 2,153	$ 2,191	$ 2,083	$ 2,042	$ 9,369	$ 8,469	$ 7,506
Net interest and dividends revenue:
Total net interest and dividends revenue									259	237	174
Pre-variable income:
Total pre-variable income									2,210	1,988	1,685
Variable compensation:
Total variable compensation									1,118	998	813
Income (loss) before allocations to partners:
Total income before allocations to partners	285	$ 281	$ 285	$ 241	244	$ 273	$ 240	$ 233	1,092	990	872
Capital expenditures:
Total capital expenditures									176	105	80
Depreciation and amortization:
Depreciation and amortization									115	94	85
Total assets at year end:
Total assets	$ 19,317				$ 15,815				$ 19,317	$ 15,815	$ 17,176
Financial advisors at year end:
Total financial advisors | Advisor	18,704				17,615				18,704	17,615	16,095
United States [Member]
Net revenue:
Total net revenue									$ 9,127	$ 8,233	$ 7,305
Net interest and dividends revenue:
Total net interest and dividends revenue									249	228	170
Pre-variable income:
Total pre-variable income									2,194	1,972	1,681
Variable compensation:
Total variable compensation									1,094	975	795
Income (loss) before allocations to partners:
Total income before allocations to partners									1,100	997	886
Capital expenditures:
Total capital expenditures									170	102	78
Depreciation and amortization:
Depreciation and amortization									113	92	83
Total assets at year end:
Total assets	$ 18,577				$ 15,187				$ 18,577	$ 15,187	$ 16,563
Financial advisors at year end:
Total financial advisors | Advisor	17,830				16,797				17,830	16,797	15,347
Canada [Member]
Net revenue:
Total net revenue									$ 242	$ 236	$ 201
Net interest and dividends revenue:
Total net interest and dividends revenue									10	9	4
Pre-variable income:
Total pre-variable income									16	16	4
Variable compensation:
Total variable compensation									24	23	18
Income (loss) before allocations to partners:
Total income before allocations to partners									(8)	(7)	(14)
Capital expenditures:
Total capital expenditures									6	3	2
Depreciation and amortization:
Depreciation and amortization									2	2	2
Total assets at year end:
Total assets	$ 740				$ 628				$ 740	$ 628	$ 613
Financial advisors at year end:
Total financial advisors | Advisor	874				818				874	818	748

Related Parties - Additional In

Related Parties - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Rent and other lease-related expenses		$ 305,000,000	$ 284,000,000
Lease right-of-use assets	$ 876,000,000	0
Lease liabilities	898,000,000	0
Passport Research, Ltd [Member]
Related Party Transaction [Line Items]
Total fees waived	$ 0	0	0
Financial Advisor [Member]
Related Party Transaction [Line Items]
Percentage of branch office space leased from its financial advisors	10.00%
Lease cost	$ 34,000,000
Rent and other lease-related expenses		32,000,000	30,000,000
Financial Advisor [Member] | Edward D. Jones & Co., L. P [Member]
Related Party Transaction [Line Items]
Lease right-of-use assets	83,000,000
Lease liabilities	83,000,000
BB Trust [Member] | Olive Street [Member]
Related Party Transaction [Line Items]
Expense paid to sub-advisers	147,000,000	123,000,000	91,000,000
Investment advisory fee revenue	147,000,000	123,000,000	91,000,000
Edward Jones Money Market Fund [Member] | Edward D. Jones & Co., L. P [Member]
Related Party Transaction [Line Items]
Total fees waived	30,000,000	30,000,000	22,000,000
Total fees earned	138,000,000	113,000,000	98,000,000
Edward Jones Money Market Fund [Member] | Passport Research, Ltd [Member]
Related Party Transaction [Line Items]
Investment advisory fee revenue	$ 58,000,000	$ 48,000,000	$ 39,000,000

Quarterly Information - Summary

Quarterly Information - Summary of Quarterly Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]
Net revenue	$ 2,493	$ 2,367	$ 2,319	$ 2,190	$ 2,153	$ 2,191	$ 2,083	$ 2,042	$ 9,369	$ 8,469	$ 7,506
Income before allocations to partners	$ 285	$ 281	$ 285	$ 241	$ 244	$ 273	$ 240	$ 233	$ 1,092	$ 990	$ 872
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding	$ 34.54	$ 33.93	$ 34.55	$ 29.20	$ 31.53	$ 35.42	$ 31.02	$ 30.16	$ 132.22	$ 128.13	$ 121.15

Quarterly Information - Summa_2

Quarterly Information - Summary of Quarterly Information (Parenthetical) (Detail) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]
Limited partnership interest value	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000

Offsetting Assets and Liabili_3

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Offsetting Securities Purchased Under Agreements To Resell [Abstract]
Securities purchased under agreements to resell, Gross amounts of recognized assets	$ 1,693	$ 911
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	1,693	911
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	(1,693)	(911)
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)	Dec. 31, 2019	Dec. 31, 2018
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	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 157	$ 125	$ 90
Cash paid for taxes	10	10	10
Non-cash activities:
Issuance of general partnership interests through partnership loans in current year	164	170	142
Repayment of partnership loans through distributions from partnership capital in current year	136	135	111
Declared distributions for retired partnership capital in current year but unpaid at year end	$ 113	$ 97	$ 0

Cash Flow Information - Sched_2

Cash Flow Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Balance (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 1,014	$ 1,498	$ 846
Cash and investments segregated under federal regulations	10,387	8,241	10,099
Less: Investments segregated under federal regulations	3,394	1,002	2,408
Total cash, cash equivalents and restricted cash	$ 8,007	$ 8,737	$ 8,537

Schedule I - Condensed Statemen

Schedule I - Condensed Statements of Financial Condition (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS:
Cash and cash equivalents	$ 1,014	$ 1,498	$ 846
Investment securities	332	250
Other assets	156	142
TOTAL ASSETS	19,317	15,815	17,176
LIABILITIES:
Accounts payable, accrued expenses and other	351	288
Partnership capital subject to mandatory redemption	3,364	2,855	$ 2,795	$ 2,634
TOTAL LIABILITIES	19,317	15,815
Parent Company [Member]
ASSETS:
Cash and cash equivalents	320	318
Investment securities	2	7
Investment in subsidiaries	3,109	2,596
Other assets	49	33
TOTAL ASSETS	3,480	2,954
LIABILITIES:
Accounts payable, accrued expenses and other	116	99
Partnership capital subject to mandatory redemption	3,364	2,855
TOTAL LIABILITIES	$ 3,480	$ 2,954

Schedule I - Condensed Statem_2

Schedule I - Condensed Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net revenue:
Total revenue									$ 9,526	$ 8,594	$ 7,597
Interest expense									157	125	91
Net revenue	$ 2,493	$ 2,367	$ 2,319	$ 2,190	$ 2,153	$ 2,191	$ 2,083	$ 2,042	9,369	8,469	7,506
OPERATING EXPENSES
Compensation and benefits									6,538	5,993	5,299
Other operating expenses									424	334	278
Total operating expenses									8,277	7,479	6,634
Income before allocations to partners	$ 285	$ 281	$ 285	$ 241	$ 244	$ 273	$ 240	$ 233	1,092	990	872
Allocations to partners									(1,092)	(990)	(872)
NET INCOME									0	0	0
Parent Company [Member]
Net revenue:
Total revenue									2,504	1,091	972
Interest expense									94	67	67
Net revenue									2,410	1,024	905
OPERATING EXPENSES
Compensation and benefits									1,317	33	31
Other operating expenses									1	1	2
Total operating expenses									1,318	34	33
Income before allocations to partners									1,092	990	872
Allocations to partners									(1,092)	(990)	(872)
NET INCOME									0	0	0
Parent Company [Member] | Subsidiary Earnings [Member]
Net revenue:
Total revenue									1,064	970	858
Parent Company [Member] | Management Fee Income [Member]
Net revenue:
Total revenue									1,411	99	99
Parent Company [Member] | Other [Member]
Net revenue:
Total revenue									$ 29	$ 22	$ 15

Schedule I - Condensed Statem_3

Schedule I - Condensed Statements of Cash Flow (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income									$ 0	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners	$ 285	$ 281	$ 285	$ 241	$ 244	$ 273	$ 240	$ 233	1,092	990	872
Changes in assets and liabilities:
Other assets									(14)	(14)	0
Accounts payable and accrued expenses									47	26	4
Net cash provided by (used in) operating activities									13	1,138	(244)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests									432	60	80
Redemption of partnership interests									(216)	(199)	(193)
Distributions from partnership capital									(783)	(694)	(598)
Net cash used in financing activities									(567)	(833)	(711)
Net (decrease) increase in cash, cash equivalents and restricted cash									(730)	200	(1,035)
CASH AND CASH EQUIVALENTS:
Beginning of year								8,537	8,737	8,537	9,572
End of year	8,007				8,737				8,007	8,737	8,537
NON-CASH ACTIVITIES:
Issuance of general partnership interests through partnership loans in current year									164	170	142
Repayment of partnership loans through distributions from partnership capital in current year									136	135	111
Declared distributions for retired partnership capital in current year but unpaid at year end									113	97	0
Parent Company [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income									0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners									1,092	990	872
Changes in assets and liabilities:
Investment in subsidiaries									(513)	(134)	(312)
Investment securities									5	0	2
Other assets									(16)	(14)	0
Accounts payable and accrued expenses									1	1	1
Net cash provided by (used in) operating activities									569	843	563
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests									432	60	80
Redemption of partnership interests									(216)	(199)	(193)
Distributions from partnership capital									(783)	(694)	(598)
Net cash used in financing activities									(567)	(833)	(711)
Net (decrease) increase in cash, cash equivalents and restricted cash									2	10	(148)
CASH AND CASH EQUIVALENTS:
Beginning of year								$ 308	318	308	456
End of year	$ 320				$ 318				320	318	308
NON-CASH ACTIVITIES:
Issuance of general partnership interests through partnership loans in current year									164	170	142
Repayment of partnership loans through distributions from partnership capital in current year									136	135	111
Declaration of distributions from subsidiary in current year but received after year end									428	56	129
Declared distributions for retired partnership capital in current year but unpaid at year end									$ 109	$ 97	$ 0

Revenue and Expense - Additiona

Revenue and Expense - Additional Information (Details) - Parent Company [Member] $ in Billions	12 Months Ended
	Dec. 31, 2019USD ($)
Related Party Transaction [Line Items]
Management fee income	$ 1.3
Compensation expense	$ 1.3