Segment Information

3 Months Ended

Mar. 30, 2018

NOTE 8 – 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
	March 30, 2018			March 31, 2017
Net revenue:
U.S.	$	1,984		$	1,749
Canada		58			48
Total net revenue	$	2,042		$	1,797

Pre-variable income (loss):
U.S.	$	466		$	362
Canada		3			(1	)
Total pre-variable income		469			361

Variable compensation:
U.S.		230			160
Canada		6			4
Total variable compensation		236			164

Income (loss) before allocations to partners:
U.S.		236			202
Canada		(3	)		(5	)
Total income before allocations to partners	$	233		$	197

The Partnership derived 15% and 18% of its total revenue for the three month periods ended March 30, 2018 and March 31, 2017, respectively, from one mutual fund complex. 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 complex could have a material impact on the Partnership’s results of operations.