Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2024

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)	2024		2023
ASSETS:
Cash and cash equivalents	$	295	$	157
Investment securities		114		119
Investment in and receivable from subsidiaries		4,621		4,421
Other assets		85		81
TOTAL ASSETS	$	5,115	$	4,778
LIABILITIES:
Accounts payable and accrued expenses	$	206	$	151
Partnership capital subject to mandatory redemption	$	4,909	$	4,627
TOTAL LIABILITIES	$	5,115	$	4,778

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

(Parent Company Only)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	For the Years Ended December 31,
(Dollars in millions)	2024			2023			2022
NET REVENUE
Subsidiary earnings	$	1,921		$	1,561		$	1,386
Management fee income		3,135			2,804			2,391
Other		62			57			20
Total revenue		5,118			4,422			3,797
Interest expense		131			132			92
Net revenue		4,987			4,290			3,705
OPERATING EXPENSES
Compensation and benefits		3,004			2,672			2,301
Other operating expenses		2			6			—
Total operating expenses		3,006			2,678			2,301
INCOME BEFORE ALLOCATIONS	$	1,981		$	1,612		$	1,404
Allocations to partners		(1,981	)		(1,612	)		(1,404	)
NET INCOME	$	—		$	—		$	—
Other comprehensive (loss):		—			—			—
Foreign currency translation		(9	)		—			—
COMPREHENSIVE (LOSS) BEFORE ALLOCATIONS		(9	)		—			—
Allocations		(9	)		—			—
TOTAL COMPREHENSIVE (LOSS)	$	—		$	—		$	—

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)	2024			2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	—		$	—		$	—
Adjustments to reconcile net income to net cash provided by    operating activities:
Income before allocations		1,981			1,612			1,404
Foreign currency translation		(9	)		—			—
Changes in assets and liabilities:
Investment in subsidiaries		(72	)		(637	)		58
Investment securities		5			(103	)		(105	)
Other assets		(4	)		(13	)		(27	)
Accounts payable and accrued expenses		13			12			(5	)
Net cash provided by operating activities		1,914			871			1,325
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in subsidiaries		(128	)		(47	)		—
Net cash used in investing activities		(128	)		(47	)		—
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of partnership loans		43			58			71
Issuance of partnership interests		76			638			63
Redemption of partnership interests		(307	)		(386	)		(336	)
Distributions from partnership capital		(1,460	)		(1,193	)		(1,173	)
Net cash used in financing activities		(1,648	)		(883	)		(1,375	)
Net increase (decrease) in cash and cash equivalents		138			(59	)		(50	)
CASH AND CASH EQUIVALENTS:
Beginning of year		157			216			266
End of year	$	295		$	157		$	216
NON-CASH ACTIVITIES:
Issuance of general partnership interests through    partnership loans in current year	$	270		$	319		$	276
Repayment of partnership loans through distributions from    partnership capital in current year	$	193		$	157		$	191
Declaration of distributions from subsidiary in current year    but received after year end	$	721		$	930		$	667
Declared distributions for retired partnership capital    in current year but unpaid at year end	$	182		$	140		$	219