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Segment Information
 9 Months Ended
Sep. 29, 2017
Segment Reporting [Abstract]  
Segment Information

NOTE 6 – 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, as reported in the following table, is based upon the Consolidated Financial Statements of the Partnership's Canada operations, which primarily occur through a non-guaranteed subsidiary of the Partnership. The U.S. segment information is derived from the Consolidated Financial Statements less the Canada segment information as presented. Pre-variable income represents income before variable compensation expense and before allocations to partners. This is consistent with how management views the segments in order to assess performance.

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

Sept 29,

2017

 

 

Sept 30,

2016

 

 

Sept 29,

2017

 

 

Sept 30,

2016

 

Net revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

1,805

 

 

$

1,638

 

 

$

5,387

 

 

$

4,775

 

Canada

 

 

47

 

 

 

45

 

 

 

144

 

 

 

129

 

Total net revenue

 

$

1,852

 

 

$

1,683

 

 

$

5,531

 

 

$

4,904

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-variable income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

427

 

 

$

358

 

 

$

1,225

 

 

$

1,115

 

Canada

 

 

(2

)

 

 

1

 

 

 

(1

)

 

 

(2

)

Total pre-variable income

 

 

425

 

 

 

359

 

 

 

1,224

 

 

 

1,113

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variable compensation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

208

 

 

 

169

 

 

 

577

 

 

 

517

 

Canada

 

 

6

 

 

 

4

 

 

 

14

 

 

 

11

 

Total variable compensation

 

 

214

 

 

 

173

 

 

 

591

 

 

 

528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before allocations to partners:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

219

 

 

 

189

 

 

 

648

 

 

 

598

 

Canada

 

 

(8

)

 

 

(3

)

 

 

(15

)

 

 

(13

)

Total income before allocations to partners

 

$

211

 

 

$

186

 

 

$

633

 

 

$

585

 

 

The Partnership derived 14% and 16% of its total revenue for the three and nine month periods ended September 29, 2017, respectively, and 19% and 20% of its total revenue for the three and nine month periods ended September 30, 2016, respectively, from one mutual fund company. The revenue generated from this company relates to business conducted with the Partnership’s U.S. segment. Significant reductions in this 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.