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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Jun. 28, 2024
Jun. 30, 2023
Revenue:        
Revenue $ 3,631 $ 3,137 $ 7,155 $ 6,162
Interest and dividends 302 283 610 559
Other revenue, net 36 26 66 84
Total revenue 3,969 3,446 7,831 6,805
Interest expense 66 72 134 146
Net revenue 3,903 3,374 7,697 6,659
Operating expenses:        
Compensation and benefits 2,707 2,318 5,338 4,565
Communications and data processing 252 228 496 429
Occupancy and equipment 158 155 316 306
Fund sub-adviser fees 78 67 152 131
Professional and consulting fees 47 38 90 83
Advertising 38 34 80 67
Other operating expenses 153 124 288 267
Total operating expenses 3,433 2,964 6,760 5,848
Income before allocations to partners 470 410 937 811
Allocations to partners:        
Limited partners 73 69 147 137
Profits interests 10 0 20 0
Subordinated limited partners 51 46 103 91
General partners 336 295 667 583
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 $ 38.95 $ 37.03 $ 77.41 $ 73.18
Weighted average $1,000 equivalent limited partnership units outstanding 1,744,872 1,767,251 1,748,252 1,771,494
Total Fee Revenue [Member]        
Revenue:        
Revenue $ 3,198 $ 2,792 $ 6,298 $ 5,477
Asset-based Fee Revenue [Member]        
Revenue:        
Revenue 3,011 2,600 5,919 5,101
Account and Activity Fee Revenue [Member]        
Revenue:        
Revenue 187 192 379 376
Trade Revenue [Member]        
Revenue:        
Revenue $ 433 $ 345 $ 857 $ 685