As of March 28, 2025 and December 31, 2024, collateral held for receivables from clients was $5,381 and $5,119, respectively, and collateral held for securities purchased under agreements to resell was $1,000 and $1,414, respectively. Given the nature of the agreements for receivables from clients and given the counterparties for resale agreements are financial institutions that the Partnership considers to be reputable and reliable, the Partnership does not expect the fair value of collateral to fall below the value of the agreements frequently or for an extended period of time. Therefore, the allowance for credit loss was zero for each period. Additionally, partnership loan values remained below the value of capital allocated to partners, resulting in an allowance for credit loss of zero as of March 28, 2025 and December 31, 2024.

As of March 28, 2025, December 31, 2024 and December 31, 2023, $910, $883 and $732, respectively, of the receivable from clients balance and $364, $377 and $343, respectively, of the receivable from mutual funds, insurance companies and other balance related to revenue contracts with customers. The related fees are paid out of client accounts or third-party products consisting of cash and securities, the collateral value of those accounts continues to exceed the amortized cost basis of these receivables and the receivables have a short duration. As a result, the Partnership does not expect an event or change which would result in the receivables being undercollateralized or unpaid. The allowance for credit loss for receivables from contracts with customers was zero as of March 28, 2025 and December 31, 2024.

The following table shows the Partnership's disaggregated revenue information. See Note 4 for segment information.


	Three Months Ended						Three Months Ended
	March 28, 2025						March 29, 2024
	U.S.		Canada		Total		U.S.		Canada		Total
Fee revenue:
Asset-based fee revenue:
Advisory programs fees	$	2,496	$	49	$	2,545	$	2,146	$	44	$	2,190
Service fees		384		26		410		367		25		392
Cash solutions fees		145		—		145		150		—		150
Other asset-based fees		194		—		194		176		—		176
Total asset-based fee revenue		3,219		75		3,294		2,839		69		2,908
Account and activity fee revenue:
Shareholder accounting services fees		118		—		118		116		—		116
Other account and activity fee revenue		65		3		68		72		4		76
Total account and activity fee revenue		183		3		186		188		4		192
Total fee revenue		3,402		78		3,480		3,027		73		3,100
Trade revenue:
Commissions		370		14		384		358		12		370
Principal transactions		56		3		59		51		3		54
Total trade revenue		426		17		443		409		15		424
Total revenue from customers		3,828		95		3,923		3,436		88		3,524
Net interest and dividends and other revenue		219		25		244		252		18		270
Net revenue	$	4,047	$	120	$	4,167	$	3,688	$	106	$	3,794