SEGMENT INFORMATION

3 Months Ended

Mar. 28, 2014

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 7 – SEGMENT INFORMATION

The Partnership has determined it has two operating and reportable segments based upon geographic location, the U.S. and Canada. Canada segment information is based upon the Consolidated Financial Statements of the Partnership’s Canada operations without eliminating intercompany items, such as management fees paid to affiliated entities. The U.S. segment information is derived from the Consolidated Financial Statements less the Canada segment information as presented. This is consistent with how management reviews the segments in order to assess performance.

The Partnership derived from one mutual fund company 20% of its total revenue for both the three month periods ended March 28, 2014 and March 29, 2013. The revenue generated from this company related to business conducted with the Partnership’s U.S. segment. Significant reductions in revenue due to regulatory reform or other changes to the Partnership’s relationship with this mutual fund company could have a material impact on the Partnership’s results of operations.

The following table shows financial information for the Partnership’s reportable segments:

	Three Months Ended
	March 28, 2014		March 29, 2013
Net revenue:
U.S.	$	1,438	$	1,284
Canada		52		52
Total net revenue	$	1,490	$	1,336
Pre-variable income:
U.S.	$	359	$	281
Canada		5		3
Total pre-variable income		364		284
Variable compensation:
U.S.		173		131
Canada		5		4
Total variable compensation		178		135
Income (loss) before allocations to partners:
U.S.		186		150
Canada		—		(1	)
Total income before allocations to partners	$	186	$	149