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Segment Information
 9 Months Ended
Sep. 28, 2018
Segment Reporting [Abstract]  
Segment Information

NOTE 9 – 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 28,

2018

 

 

Sept 29,

2017

 

 

Sept 28,

2018

 

 

Sept 29,

2017

 

Net revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

2,131

 

 

$

1,805

 

 

$

6,141

 

 

$

5,387

 

Canada

 

 

60

 

 

 

47

 

 

 

175

 

 

 

144

 

Total net revenue

 

$

2,191

 

 

$

1,852

 

 

$

6,316

 

 

$

5,531

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-variable income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

534

 

 

$

427

 

 

$

1,487

 

 

$

1,225

 

Canada

 

 

5

 

 

 

(2

)

 

 

10

 

 

 

(1

)

Total pre-variable income

 

 

539

 

 

 

425

 

 

 

1,497

 

 

 

1,224

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variable compensation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

261

 

 

 

208

 

 

 

734

 

 

 

577

 

Canada

 

 

5

 

 

 

6

 

 

 

17

 

 

 

14

 

Total variable compensation

 

 

266

 

 

 

214

 

 

 

751

 

 

 

591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before allocations to partners:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

273

 

 

 

219

 

 

 

753

 

 

 

648

 

Canada

 

 

—

 

 

 

(8

)

 

 

(7

)

 

 

(15

)

Total income before allocations to partners

 

$

273

 

 

$

211

 

 

$

746

 

 

$

633

 

 

The Partnership derived 14% of its total revenue for both the three and nine month periods ended September 28, 2018, and 14% and 16% for the three and nine month periods ended September 29, 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.