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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Member's paid-in capital
Accumulated other comprehensive income (loss)
Total Jefferies Group LLC member’s equity
Noncontrolling interests
Increase (Decrease) in Stockholders' Equity          
Cumulative effect of the adoption of the new revenue standard, net of tax   $ 0      
Balance, beginning of period at Nov. 30, 2016   5,538,103 $ (168,157) [1],[2]   $ 651
Increase (Decrease) in Stockholders' Equity          
Net earnings (loss)   357,498     86
Distribution to Jefferies Financial Group Inc.   0      
Tax Cuts and Jobs Act adjustment   0      
Currency adjustments [1],[2],[3]     53,396    
Changes in instrument specific credit risk [1],[2],[4]     (21,394)    
Cash flow hedges [1],[2],[5]     (936)    
Pension adjustments [1],[2],[6]     312    
Contributions         0
Consolidation of asset management entity         0
Balance, end of period at Nov. 30, 2017 $ 5,759,559 5,895,601 (136,779) [1],[2] $ 5,758,822 737
Increase (Decrease) in Stockholders' Equity          
Cumulative effect of the adoption of the new revenue standard, net of tax   (6,121)      
Net earnings (loss) 97,367 97,368     (1)
Distribution to Jefferies Financial Group Inc.   (248,684)      
Tax Cuts and Jobs Act adjustment   7,555      
Currency adjustments (71,219) [7]   (75,717) [1],[2],[3]    
Changes in instrument specific credit risk 8,971 [8]   8,971 [1],[2],[4]    
Cash flow hedges 1,382 [9]   1,382 [1],[2],[5]    
Pension adjustments [1],[2],[6]     4,498    
Contributions         10
Consolidation of asset management entity (130)       8,316
Balance, end of period at Aug. 31, 2018 $ 5,557,136 $ 5,745,719 $ (197,645) [1],[2] $ 5,548,074 $ 9,062
[1] The components of other comprehensive income (loss) are attributable to Jefferies Group LLC. None of the components of other comprehensive income (loss) are attributable to noncontrolling interests.
[2] There were no material reclassifications out of Accumulated other comprehensive income (loss) during the year ended November 30, 2017.
[3] The amount during the nine months ended August 31, 2018 includes a gain of $20.5 million related to foreign currency gains, which was reclassified to earnings, and $2.8 million related to the impact of certain discrete items related to tax planning for our non-U.S. subsidiaries in connection with the Tax Act.
[4] The amount during the nine months ended August 31, 2018 includes a gain of $0.4 million, net of taxes of $0.1 million, related to changes in instrument specific credit risk, which was reclassified to earnings, and ($6.5) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[5] The amount during the nine months ended August 31, 2018 includes ($0.2) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[6] The amount during the nine months ended August 31, 2018 includes $5.3 million related to the transfer of the German Pension Plan, which was reclassified to earnings, and ($0.8) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[7] The amounts during the nine months ended August 31, 2018 include $5.3 million related to the transfer of the German Pension Plan, which was reclassified to Compensation and benefits expenses within the Consolidated Statements of Earnings and ($0.8) million related to the Tax Cuts and Jobs Act (the “Tax Act”), which was reclassified to Member’s paid-in capital and a gain of $20.5 million related to foreign currency gains, which was reclassified to Other income within the Consolidated Statements of Earnings. The amounts during the three and nine months ended August 31, 2018 include $2.8 million related to the impact of certain discrete items related to our non-U.S. subsidiaries planning for the Tax Act.
[8] The amounts include income tax expense of approximately $0.3 million and $11.0 million for the three and nine months ended August 31, 2018, respectively, and income tax expense of approximately $2.1 million and income tax benefit of approximately $5.3 million for the three and nine months ended August 31, 2017, respectively. The amounts during the three and nine months ended August 31, 2018 also include a gain of $0.1 million and $0.4 million, net of taxes of $0.1 million, respectively, related to changes in instrument specific credit risk, which was reclassified to Principal transaction revenues within the Consolidated Statements of Earnings. The amount during the nine months ended August 31, 2018 includes ($6.5) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[9] The amount during the nine months ended August 31, 2018 includes ($0.2) million related to the Tax Act, which was reclassified to Member’s paid-in capital.