v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 0 $ 0
Adjustments to reconcile net income to net cash provided by operating activities:    
Income before allocations 541 513
Foreign currency translation 5 (5)
Depreciation and amortization 194 164
Changes in assets and liabilities:    
Investments segregated under federal regulations 1,503 465
Securities purchased under agreements to resell 104 406
Net payable to clients (969) (317)
Net receivable from brokers, dealers and clearing organizations 41 33
Receivable from mutual funds, insurance companies and other (93) (95)
Securities owned (568) (21)
Other assets (57) (64)
Lease liabilities (94) (90)
Accrued compensation and employee benefits (713) (692)
Accounts payable, accrued expenses and other (629) (201)
Net cash (used in) provided by operating activities (735) 96
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (139) (131)
Cash used in investing activities (139) (131)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of partnership loans 264 41
Issuance of partnership interests 358 70
Redemption of partnership interests (69) (66)
Distributions from partnership capital (525) (607)
Net cash provided by (used in) financing activities 28 (562)
Net decrease in cash, cash equivalents and restricted cash (846) (597)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Beginning of period 8,380 6,350
End of period $ 7,534 $ 5,753