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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Feb. 28, 2017
Feb. 29, 2016
Cash flows from operating activities:    
Net earnings (loss) $ 114,020 $ (166,769)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 252 (2,735)
(Income) loss on loans to and investments in related parties (26,264) 23,416
Distributions received on investments in related parties 2,240 0
Other adjustments (9,435) 8,670
Net change in assets and liabilities:    
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations 152,001 70,939
Receivables:    
Brokers, dealers and clearing organizations (670,299) (211,449)
Customers (338,876) 13,863
Fees, interest and other (1,211) (15,898)
Securities borrowed 856,236 (385,463)
Financial instruments owned 551,101 2,830,082
Investments in managed funds 15,746 1,551
Securities purchased under agreements to resell (609,225) 298,260
Other assets (145,374) (392,788)
Payables:    
Brokers, dealers and clearing organizations (329,027) (1,477,131)
Customers 114,834 (180,980)
Securities loaned (295,666) (295,559)
Financial instruments sold, not yet purchased 375,034 750,826
Securities sold under agreements to repurchase 525,137 (1,721,276)
Accrued expenses and other liabilities (241,753) (205,396)
Net cash provided by (used in) operating activities 39,471 (1,057,837)
Cash flows from investing activities:    
Contributions to loans to and investments in related parties (1,134,714) (141,735)
Distributions from loans to and investments in related parties 1,140,234 188,108
Net payments on premises and equipment (22,396) (20,958)
Payment on purchase of aircraft 0 (27,500)
Deconsolidation of asset management entity 0 (39)
Cash received from contingent consideration 1,250 466
Net cash used in investing activities (15,626) (1,658)
Cash flows from financing activities:    
Proceeds from short-term borrowings 9,682,590 1,397,552
Payments on short-term borrowings (9,789,703) (1,396,326)
Net (payments on) proceeds from other secured financings (161,456) 134,435
Net proceeds from issuance of long-term debt, net of issuance costs 792,376 65,734
Net change in bank overdrafts 4,195 (41,978)
Net cash provided by financing activities 528,002 159,417
Effect of exchange rate changes on cash and cash equivalents (535) (10,448)
Net increase (decrease) in cash and cash equivalents 551,312 (910,526)
Cash and cash equivalents at beginning of period 3,529,069 3,510,163
Cash and cash equivalents at end of period 4,080,381 2,599,637
Cash paid (received) during the period for:    
Interest 238,938 188,217
Income taxes, net $ 477 $ (7,450)