Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Statements

THE JONES FINANCIAL COMPANIES, L.L.L.P.

(Parent Company Only)

CONDENSED STATEMENTS OF FINANCIAL CONDITION

	December 31,		December 31,
(Dollars in millions)	2022		2021
ASSETS:
Cash and cash equivalents	$	216	$	266
Investment securities		16		74
Investment in and receivable from subsidiaries		3,737		3,632
Other assets		68		41
TOTAL ASSETS	$	4,037	$	4,013
LIABILITIES:
Accounts payable and accrued expenses	$	218	$	258
Partnership capital subject to mandatory redemption	$	3,819	$	3,755
TOTAL LIABILITIES	$	4,037	$	4,013

THE JONES FINANCIAL COMPANIES, L.L.L.P.

(Parent Company Only)

CONDENSED STATEMENTS OF INCOME

	For the Years Ended December 31,
(Dollars in millions)	2022			2021			2020
NET REVENUE
Subsidiary earnings	$	1,386		$	1,593		$	1,271
Management fee income		2,391			2,395			1,852
Other		20			13			15
Total revenue		3,797			4,001			3,138
Interest expense		92			92			93
Net revenue		3,705			3,909			3,045
OPERATING EXPENSES
Compensation and benefits		2,301			2,303			1,759
Other operating expenses		—			1			1
Total operating expenses		2,301			2,304			1,760
INCOME BEFORE ALLOCATIONS TO PARTNERS	$	1,404		$	1,605		$	1,285
Allocations to partners		(1,404	)		(1,605	)		(1,285	)
NET INCOME	$	—		$	—		$	—

THE JONES FINANCIAL COMPANIES, L.L.L.P.

(Parent Company Only)

CONDENSED STATEMENTS OF CASH FLOWS

	For the Years Ended December 31,
(Dollars in millions)	2022			2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	—		$	—		$	—
Adjustments to reconcile net income to net cash provided by    operating activities:
Income before allocations to partners		1,404			1,605			1,285
Changes in assets and liabilities:
Investment in subsidiaries		58			(71	)		(1	)
Investment securities		(105	)		(276	)		(247	)
Other assets		(27	)		14			(6	)
Accounts payable and accrued expenses		(5	)		1			—
Net cash provided by operating activities		1,325			1,273			1,031
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of partnership loans		71			17			—
Issuance of partnership interests		63			66			50
Redemption of partnership interests		(336	)		(260	)		(214	)
Distributions from partnership capital		(1,173	)		(1,153	)		(864	)
Net cash used in financing activities		(1,375	)		(1,330	)		(1,028	)
Net (decrease) increase in cash and cash equivalents		(50	)		(57	)		3
CASH AND CASH EQUIVALENTS:
Beginning of year		266			323			320
End of year	$	216		$	266		$	323
NON-CASH ACTIVITIES:
Issuance of general partnership interests through    partnership loans in current year	$	276		$	222		$	163
Repayment of partnership loans through distributions from    partnership capital in current year	$	191		$	225		$	182
Declaration of distributions from subsidiary in current year    but received after year end	$	667		$	434		$	474
Declared distributions for retired partnership capital    in current year but unpaid at year-end	$	219		$	254		$	145