Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 25, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners	197	191
Depreciation and amortization	20	20
Changes in assets and liabilities:
Cash and investments segregated under federal regulations	164	145
Securities purchased under agreements to resell	123	254
Net payable to clients	(11)	56
Net receivable from brokers, dealers and clearing organizations	50	36
Receivable from mutual funds, insurance companies and other	(89)	(83)
Securities owned	(37)	(17)
Other assets	(6)	22
Accrued compensation and employee benefits	(177)	(248)
Accounts payable, accrued expenses and other	14	(15)
Net cash provided by operating activities	248	361
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements, net	(23)	(14)
Net cash used in investing activities	(23)	(14)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests	64	68
Redemption of partnership interests	(153)	(152)
Distributions from partnership capital	(157)	(211)
Net cash used in financing activities	(246)	(295)
Net (decrease) increase in cash and cash equivalents	(21)	52
CASH AND CASH EQUIVALENTS:
Beginning of period	1,047	937
End of period	1,026	989
Cash paid for interest	18	18
Cash paid for taxes	1	3
NON-CASH ACTIVITIES:
Issuance of general partnership interests through partnership loans in current period	140	139
Repayment of partnership loans through distributions from partnership capital in current period	$ 71	$ 60