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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 25, 2021
Jun. 26, 2020
Jun. 25, 2021
Jun. 26, 2020
Revenue:        
Revenue $ 2,993 $ 2,273 $ 5,814 $ 4,743
Interest and dividends 40 41 78 124
Other revenue, net 24 34 42 4
Total revenue 3,057 2,348 5,934 4,871
Interest expense 23 23 47 55
Net revenue 3,034 2,325 5,887 4,816
Operating expenses:        
Compensation and benefits 2,148 1,646 4,187 3,410
Occupancy and equipment 135 130 269 261
Communications and data processing 115 106 219 207
Fund sub-adviser fees 59 44 115 86
Professional and consulting fees 34 23 65 52
Other operating expenses 100 88 209 209
Total operating expenses 2,591 2,037 5,064 4,225
Income before allocations to partners 443 288 823 591
Allocations to partners:        
Limited partners 58 42 107 92
Subordinated limited partners 52 34 98 69
General partners 333 212 618 430
Net Income $ 0 $ 0 $ 0 $ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 46.66 $ 33.10 $ 86.74 $ 68.00
Weighted average $1,000 equivalent limited partnership units outstanding 1,231,702 1,244,724 1,234,095 1,246,549
Asset-based Fee Revenue [Member]        
Revenue:        
Revenue $ 2,385 $ 1,718 $ 4,594 $ 3,524
Account and Activity Fee Revenue [Member]        
Revenue:        
Revenue 171 160 341 331
Total Fee Revenue [Member]        
Revenue:        
Revenue 2,556 1,878 4,935 3,855
Trade Revenue [Member]        
Revenue:        
Revenue $ 437 $ 395 $ 879 $ 888