| Segment Information |
NOTE 4 – 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. Income before allocations margin represents income before allocations as a percentage of total revenue. The following table shows financial information for the Partnership’s reportable segments:
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Three Months Ended |
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Three Months Ended |
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September 25, 2026 |
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September 26, 2025 |
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U.S. |
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Canada |
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Total |
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U.S. |
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Canada |
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Total |
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Net revenue |
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$ |
4,992 |
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$ |
141 |
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$ |
5,133 |
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$ |
4,418 |
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$ |
121 |
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$ |
4,539 |
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FA compensation and benefits |
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|
1,935 |
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|
56 |
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|
1,991 |
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|
1,710 |
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|
48 |
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|
1,758 |
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Home office operating expense |
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|
982 |
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|
31 |
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|
1,013 |
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|
822 |
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|
27 |
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|
|
849 |
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Branch office operating expense |
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|
645 |
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|
19 |
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|
664 |
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|
597 |
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|
19 |
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|
616 |
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Variable compensation |
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|
816 |
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|
19 |
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|
835 |
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|
774 |
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|
16 |
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|
790 |
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Operating expenses |
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|
4,378 |
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|
125 |
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|
4,503 |
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|
3,903 |
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|
110 |
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|
|
4,013 |
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Income before allocations |
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$ |
614 |
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$ |
16 |
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$ |
630 |
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$ |
515 |
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$ |
11 |
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$ |
526 |
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Income before allocations margin |
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12.2 |
% |
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|
11.3 |
% |
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|
12.2 |
% |
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|
11.5 |
% |
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|
9.3 |
% |
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|
11.5 |
% |
Net interest and dividends revenue |
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$ |
177 |
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$ |
8 |
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$ |
185 |
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$ |
201 |
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$ |
10 |
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$ |
211 |
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Depreciation and amortization |
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$ |
210 |
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$ |
5 |
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$ |
215 |
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$ |
183 |
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$ |
7 |
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|
$ |
190 |
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Total assets at period end |
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$ |
26,461 |
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$ |
1,479 |
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$ |
27,940 |
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$ |
26,461 |
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$ |
1,265 |
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$ |
27,726 |
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Nine Months Ended |
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Nine Months Ended |
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|
|
September 25, 2026 |
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September 26, 2025 |
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U.S. |
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Canada |
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Total |
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U.S. |
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Canada |
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Total |
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Net revenue |
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$ |
14,403 |
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|
$ |
409 |
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$ |
14,812 |
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$ |
12,594 |
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$ |
347 |
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$ |
12,941 |
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FA compensation |
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|
5,702 |
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|
165 |
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|
|
5,867 |
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|
|
4,961 |
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|
142 |
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|
|
5,103 |
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Home office operating expense |
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|
2,759 |
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|
|
93 |
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|
|
2,852 |
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|
|
2,451 |
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|
81 |
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|
2,532 |
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Branch office operating expense |
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|
1,896 |
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|
58 |
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|
1,954 |
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|
|
1,753 |
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|
54 |
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|
1,807 |
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Variable compensation |
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|
2,311 |
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|
52 |
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|
2,363 |
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|
|
1,946 |
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|
43 |
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|
1,989 |
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Operating expenses |
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|
12,668 |
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|
|
368 |
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|
|
13,036 |
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|
|
11,111 |
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|
|
320 |
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|
|
11,431 |
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Income before allocations |
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$ |
1,735 |
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|
$ |
41 |
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$ |
1,776 |
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$ |
1,483 |
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$ |
27 |
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|
$ |
1,510 |
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Income before allocations margin |
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11.9 |
% |
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|
10.0 |
% |
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|
11.9 |
% |
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|
11.6 |
% |
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|
7.8 |
% |
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11.5 |
% |
Net interest and dividends revenue |
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$ |
531 |
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$ |
27 |
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$ |
558 |
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$ |
614 |
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|
$ |
32 |
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|
$ |
646 |
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Depreciation and amortization |
|
$ |
606 |
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|
$ |
11 |
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|
$ |
617 |
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|
$ |
517 |
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$ |
16 |
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|
$ |
533 |
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Total assets at period end |
|
$ |
26,461 |
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|
$ |
1,479 |
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$ |
27,940 |
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$ |
26,461 |
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$ |
1,265 |
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$ |
27,726 |
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