Fair Value (Tables)

9 Months Ended

Sep. 24, 2021

Fair Value Disclosures [Abstract]

Partnership's Financial Assets at Fair Value

The following tables show the Partnership’s financial assets measured at fair value:

	Financial Assets at Fair Value as of
	September 24, 2021
	Level I		Level II		Level III		Total
Cash equivalents:
Certificates of deposit	$	—	$	120	$	—	$	120
Money market funds		41		—		—		41
Total cash equivalents	$	41	$	120	$	—	$	161
Investments segregated under federal regulations:
U.S. treasuries	$	11,843	$	—	$	—	$	11,843
Securities owned:
Investment securities:
Mutual funds(1)	$	356	$	—	$	—	$	356
Government and agency obligations		225		—		—		225
Certificates of deposit		—		150		—		150
Equities		3		—		—		3
Total investment securities	$	584	$	150	$	—	$	734
Inventory securities:
State and municipal obligations	$	—	$	12	$	—	$	12
Equities		7		—		—		7
Mutual funds		2		—		—		2
Corporate bonds and notes		—		2		—		2
Certificates of deposit		—		1		—		1
Total inventory securities	$	9	$	15	$	—	$	24

	Financial Assets at Fair Value as of
	December 31, 2020
	Level I		Level II		Level III		Total
Cash equivalents:
Certificates of deposit	$	—	$	120	$	—	$	120
Money market funds	41			—		—	41
Total cash equivalents	$	41	$	120	$	—	$	161
Investments segregated under federal regulations:
U.S. treasuries	$	12,051	$	—	$	—	$	12,051
Certificates of deposit		—		100		—		100
Total investments segregated under federal regulations	$	12,051	$	100	$	—	$	12,151
Securities owned:
Investment securities:
Government and agency obligations	$	971	$	—	$	—	$	971
Mutual funds(1)		327		—		—		327
Equities		3		—		—		3
Certificates of deposit		—		1		—		1
Total investment securities	$	1,301	$	1	$	—	$	1,302
Inventory securities:
Equities	$	19	$	—	$	—	$	19
State and municipal obligations		—		10		—		10
Corporate bonds and notes		—		2		—		2
Mutual funds		1		—		—		1
Total inventory securities	$	20	$	12	$	—	$	32

(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 a security held for regulatory purposes at the Trust Co.