CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands |
6 Months Ended |
May 31, 2022 |
May 31, 2021 |
| Cash flows from operating activities: |
|
|
| Net earnings |
$ 483,002
|
$ 812,318
|
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
47,875
|
38,288
|
| Goodwill impairment |
0
|
400
|
| Bad debt expense |
17,731
|
39,785
|
| Income on loans to and investments in related parties |
(88,585)
|
(121,418)
|
| Distributions received on investments in related parties |
29,149
|
0
|
| Other adjustments |
(449,944)
|
(76,260)
|
| Net change in assets and liabilities: |
|
|
| Securities deposited with clearing and depository organizations |
0
|
(23,788)
|
| Receivables: |
|
|
| Brokers, dealers and clearing organizations |
(1,053,046)
|
(605,719)
|
| Customers |
(477,529)
|
(834,887)
|
| Fees, interest and other |
94,898
|
(50,368)
|
| Securities borrowed |
84,150
|
219,788
|
| Financial instruments owned |
(417,460)
|
(1,706,903)
|
| Securities purchased under agreements to resell |
2,875,162
|
(1,811,829)
|
| Other assets |
(150,938)
|
(82,185)
|
| Payables: |
|
|
| Brokers, dealers and clearing organizations |
(1,025,422)
|
2,018,934
|
| Customers |
(743,250)
|
(60,744)
|
| Securities loaned |
360,152
|
461,500
|
| Financial instruments sold, not yet purchased |
1,964,137
|
1,923,703
|
| Securities sold under agreements to repurchase |
(262,132)
|
(1,244,181)
|
| Lease liabilities |
(39,456)
|
(24,242)
|
| Accrued expenses and other liabilities |
(1,247,900)
|
(25,350)
|
| Net cash provided by (used in) operating activities |
594
|
(1,153,158)
|
| Cash flows from investing activities: |
|
|
| Contributions to loans to and investments in related parties |
(293,033)
|
(1,984,863)
|
| Capital distributions from investments and repayments of loans from related parties |
265,923
|
2,004,357
|
| Originations and purchases of automobile loans |
(282,877)
|
0
|
| Principal collections of automobile loans |
208,227
|
0
|
| Net payments on premises and equipment |
(43,614)
|
(40,858)
|
| Deconsolidation of asset management entity |
(21,221)
|
0
|
| Transfer of net assets from Jefferies Financial Group Inc. |
0
|
(2,173)
|
| Net cash used in investing activities |
(166,595)
|
(23,537)
|
| Cash flows from financing activities: |
|
|
| Proceeds from short-term borrowings |
1,772,000
|
567,000
|
| Payments on short-term borrowings |
(1,627,000)
|
(905,090)
|
| Proceeds from issuance of long-term debt, net of issuance costs |
504,209
|
535,569
|
| Repayment of long-term debt |
(223,880)
|
(46,350)
|
| Contributions from Jefferies Financial Group Inc. |
60,332
|
153,557
|
| Distributions to Jefferies Financial Group Inc. |
(363,753)
|
(554,148)
|
| Net proceeds from (payments on) other secured financings |
(1,821,202)
|
765,121
|
| Net change in bank overdrafts |
(12,682)
|
49,187
|
| Proceeds from contributions of noncontrolling interests |
28,210
|
2,595
|
| Payments on distributions to noncontrolling interests |
0
|
(13,266)
|
| Net cash provided by (used in) financing activities |
(1,683,766)
|
554,175
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(9,795)
|
4,755
|
| Net decrease in cash, cash equivalents and restricted cash |
(1,859,562)
|
(617,765)
|
| Cash, cash equivalents and restricted cash at beginning of period |
9,828,671
|
7,682,013
|
| Cash, cash equivalents and restricted cash at end of period |
7,969,109
|
7,064,248
|
| Cash paid during the period for |
|
|
| Interest |
533,408
|
406,539
|
| Income taxes, net |
$ 89,494
|
$ 330,002
|