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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 27, 2025
Jun. 28, 2024
Jun. 27, 2025
Jun. 28, 2024
Revenue:        
Revenue $ 3,981 $ 3,631 $ 7,904 $ 7,155
Interest and dividends 265 302 535 610
Other revenue, net 38 36 63 66
Total revenue 4,284 3,969 8,502 7,831
Interest expense 49 66 100 134
Net revenue 4,235 3,903 8,402 7,697
Operating expenses:        
Compensation and benefits 3,007 2,707 5,897 5,338
Communications and data processing 277 252 544 496
Occupancy and equipment 164 158 327 316
Fund sub-adviser fees 89 78 173 152
Professional and consulting fees 62 47 123 90
Advertising 37 38 76 80
Other operating expenses 128 153 278 288
Total operating expenses 3,764 3,433 7,418 6,760
Income before allocations 471 470 984 937
Allocations to partners:        
Limited partners 71 73 142 147
Profits interests 16 10 33 20
Subordinated limited partners 49 51 105 103
General partners 335 336 704 667
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 $ 36.71 $ 38.95 $ 75.6 $ 77.41
Weighted average $1,000 equivalent limited partnership units outstanding 1,730,731 1,744,872 1,733,793 1,748,252
Total Fee Revenue [Member]        
Revenue:        
Revenue $ 3,532 $ 3,198 $ 7,012 $ 6,298
Asset-based Fee Revenue [Member]        
Revenue:        
Revenue 3,346 3,011 6,640 5,919
Account and Activity Fee Revenue [Member]        
Revenue:        
Revenue 186 187 372 379
Trade Revenue [Member]        
Revenue:        
Revenue $ 449 $ 433 $ 892 $ 857