Fair Value (Tables)

9 Months Ended

Sep. 27, 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
	September 27, 2019
	Level I		Level II		Level III		Total
Cash equivalents:
Certificates of deposit	$	—	$	325	$	—	$	325
Investments segregated under federal regulations:
U.S. treasuries	$	2,497	$	—	$	—	$	2,497
Securities owned:
Investment securities:
Mutual funds(1)	$	300	$	—	$	—	$	300
Government and agency obligations		3		—		—		3
Equities		2		—		—		2
Total investment securities	$	305	$	—	$	—	$	305
Inventory securities:
Mutual funds	$	33	$	—	$	—	$	33
Equities		33		—		—		33
State and municipal obligations		—		18		—		18
Certificates of deposit		—		4		—		4
Corporate bonds and notes		—		3		—		3
Total inventory securities	$	66	$	25	$	—	$	91

	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

⁽¹⁾ The mutual funds balance consists primarily of securities held to economically hedge future liabilities related to the non-qualified deferred compensation plan. The balance also includes securities held in relation to profit sharing contributions on behalf of service partners and a security held for regulatory purposes at the Trust Co.