Fair Value (Tables)

3 Months Ended

Mar. 29, 2019

Fair Value Disclosures [Abstract]

Partnership's Financial Assets at Fair Value

The following tables show the Partnership’s financial assets measured at fair value:

	Financial Assets at Fair Value as of
	March 29, 2019
	Level I		Level II		Level III		Total
Cash equivalents:
Certificates of deposit	$	—	$	298	$	—	$	298
Investments segregated under federal regulations:
U.S. treasuries	$	1,493	$	—	$	—	$	1,493
Securities owned:
Investment securities:
Mutual funds(1)	$	264	$	—	$	—	$	264
Government and agency obligations		3		—		—		3
Equities		2		—		—		2
Corporate bonds and notes		—		1		—		1
Total investment securities	$	269	$	1	$	—	$	270
Inventory securities:
State and municipal obligations	$	—	$	27	$	—	$	27
Equities		22		—		—		22
Corporate bonds and notes		—		3		—		3
Certificates of deposit		—		3		—		3
Mutual funds		2		—		—		2
Total inventory securities	$	24	$	33	$	—	$	57

⁽¹⁾ The mutual funds balance consists of securities held to economically hedge future liabilities related to the non-qualified deferred compensation plan and securities held in relation to profit sharing contributions on behalf of service partners.

	Financial Assets at Fair Value as of
	December 31, 2018
	Level I		Level II		Level III		Total
Cash equivalents:
Certificates of deposit	$	—	$	298	$	—	$	298
Investments segregated under federal regulations:
U.S. treasuries	$	998	$	—	$	—	$	998
Securities owned:
Investment securities:
Mutual funds(1)	$	244	$	—	$	—	$	244
Government and agency obligations		3		—		—		3
Equities		2		—		—		2
Corporate bonds and notes		—		1		—		1
Total investment securities	$	249	$	1	$	—	$	250
Inventory securities:
Equities	$	16	$	—	$	—	$	16
State and municipal obligations		—		15		—		15
Mutual funds		6		—		—		6
Certificates of deposit		—		3		—		3
Corporate bonds and notes		—		3		—		3
Total inventory securities	$	22	$	21	$	—	$	43