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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 24, 2021
Sep. 25, 2020
Sep. 24, 2021
Sep. 25, 2020
Revenue:        
Revenue $ 3,109 $ 2,487 $ 8,923 $ 7,230
Interest and dividends 42 40 120 164
Other revenue, net 13 24 55 28
Total revenue 3,164 2,551 9,098 7,422
Interest expense 24 24 71 79
Net revenue 3,140 2,527 9,027 7,343
Operating expenses:        
Compensation and benefits 2,202 1,806 6,389 5,216
Occupancy and equipment 138 131 407 392
Communications and data processing 132 100 351 307
Fund sub-adviser fees 64 48 179 134
Professional and consulting fees 40 28 105 80
Other operating expenses 164 98 373 307
Total operating expenses 2,740 2,211 7,804 6,436
Income before allocations to partners 400 316 1,223 907
Allocations to partners:        
Limited partners 52 45 159 137
Subordinated limited partners 47 37 145 106
General partners 301 234 919 664
Net Income (Loss) Attributable to Parent, Total $ 0 $ 0 $ 0 $ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 42.13 $ 36.36 $ 128.87 $ 104.36
Weighted average $1,000 equivalent limited partnership units outstanding 1,229,280 1,241,068 1,232,521 1,244,639
Asset-based Fee Revenue [Member]        
Revenue:        
Revenue $ 2,535 $ 1,926 $ 7,129 $ 5,450
Account and Activity Fee Revenue [Member]        
Revenue:        
Revenue 172 163 513 494
Total Fee Revenue [Member]        
Revenue:        
Revenue 2,707 2,089 7,642 5,944
Trade Revenue [Member]        
Revenue:        
Revenue $ 402 $ 398 $ 1,281 $ 1,286