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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 27, 2024
Sep. 29, 2023
Sep. 27, 2024
Sep. 29, 2023
Revenue:        
Revenue $ 3,811 $ 3,253 $ 10,966 $ 9,415
Interest and dividends 294 292 904 851
Other revenue, net 83 15 149 99
Total revenue 4,188 3,560 12,019 10,365
Interest expense 65 67 199 213
Net revenue 4,123 3,493 11,820 10,152
Operating expenses:        
Compensation and benefits 2,822 2,358 8,160 6,923
Communications and data processing 243 239 739 668
Occupancy and equipment 159 155 475 461
Fund sub-adviser fees 81 70 233 201
Professional and consulting fees 47 47 137 130
Advertising 38 40 118 107
Other operating expenses 174 190 462 457
Total operating expenses 3,564 3,099 10,324 8,947
Income before allocations to partners 559 394 1,496 1,205
Allocations to partners:        
Limited partners 85 66 232 203
Profits interests 12 0 32 0
Subordinated limited partners 61 44 164 135
General partners 401 284 1,068 867
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 $ 46.42 $ 35.54 $ 123.83 $ 108.72
Weighted average $1,000 equivalent limited partnership units outstanding 1,738,470 1,760,636 1,744,585 1,767,944
Total Fee Revenue [Member]        
Revenue:        
Revenue $ 3,369 $ 2,894 $ 9,667 $ 8,371
Asset-based Fee Revenue [Member]        
Revenue:        
Revenue 3,184 2,708 9,103 7,809
Account and Activity Fee Revenue [Member]        
Revenue:        
Revenue 185 186 564 562
Trade Revenue [Member]        
Revenue:        
Revenue $ 442 $ 359 $ 1,299 $ 1,044