FAIR VALUE (Tables)

3 Months Ended

Mar. 28, 2014

Fair Value Disclosures [Abstract]

Partnership's Financial Assets at Fair Value

The following tables show the Partnership’s financial assets and liabilities measured at fair value:

	Financial Assets at Fair Value as of March 28, 2014
	Level I		Level II		Level III		Total
Investments segregated under federal regulations:
U.S. treasuries	$	1,152	$	—	$	—	$	1,152
Certificates of deposit		—		225		—		225
Total investments segregated under federal regulations	$	1,152	$	225	$	—	$	1,377
Securities owned:
Inventory securities:
State and municipal obligations	$	—	$	54	$	—	$	54
Equities		37		—		—		37
Corporate bonds and notes		—		3		—		3
Other		1		1		—		2
Total inventory securities	$	38	$	58	$	—	$	96
Investment securities:
Mutual funds	$	113	$	—	$	—	$	113
Government and agency obligations		19		—		—		19
Equities		5		—		—		5
Other		—		1		—		1
Total investment securities	$	137	$	1	$	—	$	138

	Financial Assets at Fair Value as of December 31, 2013
	Level I		Level II		Level III		Total
Investments segregated under federal regulations:
U.S. treasuries	$	1,154	$	—	$	—	$	1,154
Certificates of deposit		—		225		—		225
Total investments segregated under federal regulations	$	1,154	$	225	$	—	$	1,379
Securities owned:
Inventory securities:
State and municipal obligations	$	—	$	67	$	—	$	67
Equities		27		—		—		27
Corporate bonds and notes		—		3		—		3
Certificates of deposit		—		2		—		2
Unit investment trusts		2		—		—		2
Other		—		1		—		1
Total inventory securities	$	29	$	73	$	—	$	102
Investment securities:
Mutual funds	$	116	$	—	$	—	$	116
Government and agency obligations		19		—		—		19
Equities		5		—		—		5
Other		—		1		—		1
Total investment securities	$	140	$	1	$	—	$	141

Partnership's Financial Liabilities at Fair Value

Financial Liabilities at Fair Value as of March 28, 2014
	Level I		Level II		Level III		Total
Securities sold, not yet purchased:
Corporate bonds and notes	$	—	$	2	$	—	$	2
Equities		1		—		—		1
Other		—		1		—		1
Total securities sold, not yet purchased	$	1	$	3	$	—	$	4

Financial Liabilities at Fair Value as of December 31, 2013
	Level I		Level II		Level III		Total
Securities sold, not yet purchased:
Corporate bonds and notes	$	—	$	2	$	—	$	2
Equities		1		—		—		1
Other		—		1		—		1
Total securities sold, not yet purchased	$	1	$	3	$	—	$	4

Estimated Fair Values and Book Values of Long Term Debt and Liabilities Subordinated to Claims of General Creditors

The following table shows the estimated fair values and book values of long-term debt and liabilities subordinated to claims of general creditors as of:

	March 28, 2014				December 31, 2013
	Book Value		Fair Value		Book Value		Fair Value
Long-term debt	$	4	$	4	$	4	$	5
Liabilities subordinated to claims of general creditors		50		50		50		50
Total	$	54	$	54	$	54	$	55