Three Months Ended

June 27, 2025

June 28, 2024

U.S.

Canada

Total

U.S.

Canada

Total

Net revenue

$

4,129

$

106

$

4,235

$

3,793

$

110

$

3,903

FA compensation

1,646

46

1,692

1,469

43

1,512

Home office operating expense

851

27

878

751

24

775

Branch office operating expense

588

18

606

538

17

555

Variable compensation

574

14

588

578

13

591

Operating expenses

3,659

105

3,764

3,336

97

3,433

Income before allocations

$

470

$

1

$

471

$

457

$

13

$

470

Income before allocations margin

11.2

%

1.0

%

11.0

%

11.8

%

11.7

%

11.8

%

Net interest and dividends revenue

$

207

$

9

$

216

$

224

$

12

$

236

Depreciation and amortization

$

175

$

4

$

179

$

148

$

3

$

151

Total assets at period end

$

25,861

$

1,226

$

27,087

$

24,789

$

1,104

$

25,893

Six Months Ended

June 27, 2025

June 28, 2024

U.S.

Canada

Total

U.S.

Canada

Total

Net revenue

$

8,176

$

226

$

8,402

$

7,481

$

216

$

7,697

FA compensation

3,251

94

3,345

2,906

85

2,991

Home office operating expense

1,629

54

1,683

1,468

50

1,518

Branch office operating expense

1,156

35

1,191

1,076

34

1,110

Variable compensation

1,172

27

1,199

1,117

24

1,141

Operating expenses

7,208

210

7,418

6,567

193

6,760

Income before allocations

$

968

$

16

$

984

$

914

$

23

$

937

Income before allocations margin

11.7

%

7.2

%

11.6

%

12.0

%

10.6

%

12.0

%

Net interest and dividends revenue

$

413

$

22

$

435

$

452

$

24

$

476

Depreciation and amortization

$

334

$

9

$

343

$

287

$

7

$

294

Total assets at period end

$

25,861

$

1,226

$

27,087

$

24,789

$

1,104

$

25,893