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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2016
Nov. 30, 2015
Nov. 30, 2014
Cash flows from operating activities:      
Net earnings $ 15,406 $ 95,329 $ 160,960
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:      
Depreciation and amortization (2,365) 15,236 691
Goodwill impairment 0 0 54,000
Deferred income taxes (14,013) 88,796 122,195
Income on loans to and investments in related parties (17,184) (75,717) (90,243)
Distributions received on investments in related parties 38,180 76,681 53,985
Other adjustments (32,711) (97,804) (78,064)
Net change in assets and liabilities:      
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations (107,771) 2,691,028 166,108
Receivables:      
Brokers, dealers and clearing organizations (477,273) 576,832 11,872
Customers 348,055 57,837 (294,412)
Fees, interest and other (54,366) 541 (12,062)
Securities borrowed (805,779) (127,060) (1,497,438)
Financial instruments owned 2,529,114 2,003,978 (2,243,053)
Investments in managed funds (138,572) 15,498 13,473
Securities purchased under agreements to resell (112,777) 53,817 (200,568)
Other assets (173,616) (63,110) (146,114)
Payables:      
Brokers, dealers and clearing organizations 584,426 471,661 968,615
Customers (483,188) (3,455,080) 1,089,423
Securities loaned (122,946) 385,929 95,607
Financial instruments sold, not yet purchased 1,753,647 (2,043,319) 1,832,930
Securities sold under agreements to repurchase (3,144,433) (650,795) (84,303)
Accrued expenses and other liabilities 296,067 (259,665) 48,485
Net cash used in operating activities (122,099) (239,387) (27,913)
Cash flows from investing activities:      
Contributions to loans to and investments in related parties (538,186) (1,438,675) (2,786,394)
Distributions from loans to and investments in related parties 689,226 1,384,944 2,751,384
Net payments on premises and equipment (75,772) (68,813) (110,536)
Payment on purchase of aircraft (27,500) 0 0
Proceeds from sale of aircraft 29,450 0 0
Deconsolidation of asset management entity (77) (16,512) (137,856)
Cash received from contingent consideration 2,617 4,444 6,253
Net cash provided by (used in) investing activities 79,758 (134,612) (277,149)
Cash flows from financing activities:      
Excess tax benefits from the issuance of share-based awards 489 749 1,921
Proceeds from short-term borrowings 15,313,383 17,263,217 18,965,163
Payments on short-term borrowings (15,108,501) (16,964,558) (18,965,163)
Proceeds from secured credit facility 0 903,000 2,819,000
Payments on secured credit facility 0 (1,073,000) (2,849,000)
Net (payments on) proceeds from other secured financings (7,333) 157,085 371,113
Net proceeds from issuance of long-term debt, net of issuance costs 299,779 0 681,222
Repayment of long-term debt (373,246) (500,000) (250,000)
Net change in bank overdrafts (46,536) 29,295 20,974
Proceeds from contributions of noncontrolling interests 9,390 0 39,075
Payments on distributions to noncontrolling interests (563) (4,982) 0
Net cash provided by (used in) financing activities 86,862 (189,194) 834,305
Effect of changes in exchange rates on cash and cash equivalents (25,615) (6,612) (10,394)
Net increase (decrease) in cash and cash equivalents 18,906 (569,805) 518,849
Cash and cash equivalents at beginning of period 3,510,163 4,079,968 3,561,119
Cash and cash equivalents at end of period 3,529,069 3,510,163 4,079,968
Cash paid (received) during the period for:      
Interest 859,466 859,815 922,194
Income taxes, net $ (6,410) $ (683) $ 120,703