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Segment Information
 6 Months Ended
Jun. 29, 2018
Segment Reporting [Abstract]  
Segment Information

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

 

 

Six Months Ended

 

 

 

June 29,

2018

 

 

June 30,

2017

 

 

June 29,

2018

 

 

June 30,

2017

 

Net revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

2,026

 

 

$

1,833

 

 

$

4,010

 

 

$

3,582

 

Canada

 

 

57

 

 

 

49

 

 

 

115

 

 

 

97

 

Total net revenue

 

$

2,083

 

 

$

1,882

 

 

$

4,125

 

 

$

3,679

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-variable income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

487

 

 

$

436

 

 

$

953

 

 

$

798

 

Canada

 

 

2

 

 

 

2

 

 

 

5

 

 

 

1

 

Total pre-variable income

 

 

489

 

 

 

438

 

 

 

958

 

 

 

799

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variable compensation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

243

 

 

 

209

 

 

 

473

 

 

 

369

 

Canada

 

 

6

 

 

 

4

 

 

 

12

 

 

 

8

 

Total variable compensation

 

 

249

 

 

 

213

 

 

 

485

 

 

 

377

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before allocations to partners:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

244

 

 

 

227

 

 

 

480

 

 

 

429

 

Canada

 

 

(4

)

 

 

(2

)

 

 

(7

)

 

 

(7

)

Total income before allocations to partners

 

$

240

 

 

$

225

 

 

$

473

 

 

$

422

 

 

The Partnership derived 14% of its total revenue for both the three and six month periods ended June 29, 2018, respectively, and 17% for both the three and six month periods ended June 30, 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.