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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), net of tax
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   $ (6,121)      
Balance, beginning of period at Nov. 30, 2017   5,895,601 $ (136,779)   $ 737
Increase (Decrease) in Stockholders' Equity          
Net earnings $ 97,367 97,368     (1)
Distributions to Jefferies Financial Group Inc.   (248,684)      
Tax Cuts and Jobs Act adjustment   7,555      
Currency translation adjustments and other (71,219) [1]   (71,219)    
Changes in instrument specific credit risk 8,971 [2]   8,971    
Cash flow hedges 1,382 [3]   1,382    
Unrealized gain on available-for-sale securities 0 [4]   0    
Contributions         10
Distributions         0
Consolidation of asset management entity         8,316
Balance, end of period at Aug. 31, 2018 5,557,136 5,745,719 (197,645) $ 5,548,074 9,062
Increase (Decrease) in Stockholders' Equity          
Cumulative effect of the adoption of the new revenue standard, net of tax   0      
Balance, beginning of period at May. 31, 2018   5,715,628 (172,747)   750
Increase (Decrease) in Stockholders' Equity          
Net earnings 60,178 60,182     (4)
Distributions to Jefferies Financial Group Inc.   (30,091)      
Tax Cuts and Jobs Act adjustment   0      
Currency translation adjustments and other (26,050) [1]   (26,050)    
Changes in instrument specific credit risk 1,067 [2]   1,067    
Cash flow hedges 85 [3]   85    
Unrealized gain on available-for-sale securities 0 [4]   0    
Contributions         0
Distributions         0
Consolidation of asset management entity         8,316
Balance, end of period at Aug. 31, 2018 5,557,136 5,745,719 (197,645) 5,548,074 9,062
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, 2018   6,376,662 (196,169)   1,911
Increase (Decrease) in Stockholders' Equity          
Net earnings 221,009 220,869     140
Distributions to Jefferies Financial Group Inc.   (210,434)      
Tax Cuts and Jobs Act adjustment   0      
Currency translation adjustments and other (34,208) [1]   (34,208)    
Changes in instrument specific credit risk 26,533 [2]   26,533    
Cash flow hedges (470) [3]   (470)    
Unrealized gain on available-for-sale securities 577 [4]   577    
Contributions         6,600
Distributions         (2,481)
Consolidation of asset management entity         0
Balance, end of period at Aug. 31, 2019 6,189,530 6,387,097 (203,737) 6,183,360 6,170
Increase (Decrease) in Stockholders' Equity          
Cumulative effect of the adoption of the new revenue standard, net of tax   0      
Balance, beginning of period at May. 31, 2019   6,354,613 (181,801)   6,313
Increase (Decrease) in Stockholders' Equity          
Net earnings 64,825 64,968     (143)
Distributions to Jefferies Financial Group Inc.   (32,484)      
Tax Cuts and Jobs Act adjustment   0      
Currency translation adjustments and other (28,023) [1]   (28,023)    
Changes in instrument specific credit risk 5,889 [2]   5,889    
Cash flow hedges 0 [3]   0    
Unrealized gain on available-for-sale securities 198 [4]   198    
Contributions         0
Distributions         0
Consolidation of asset management entity         0
Balance, end of period at Aug. 31, 2019 $ 6,189,530 $ 6,387,097 $ (203,737) $ 6,183,360 $ 6,170
[1]
The amounts during the three and nine months ended August 31, 2019 include income tax benefits of $8.9 million and $10.6 million respectively, compared with $2.8 million in both the three and nine months ended August 31, 2018, related to the impact of certain discrete items related to tax planning for our non-U.S. subsidiaries in connection with the Tax Cuts and Jobs Act (the “Tax Act”). 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 Compensation and benefits expenses within the Consolidated Statements of Earnings and ($0.8) million related to 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 revenues within the Consolidated Statements of Earnings.
[2]
The amounts include income tax expenses of approximately $2.0 million and $9.0 million for the three and nine months ended August 31, 2019, respectively, and income tax expenses of approximately $0.3 million and $11.0 million for the three and nine months ended August 31, 2018, respectively. The amount during the nine months ended August 31, 2019 also includes gains of $0.5 million, net of taxes of $0.2 million, related to changes in instrument specific risk, which was reclassified to Principal transactions revenues within the Consolidated Statements of Earnings. The amounts during the three and nine months ended August 31, 2018 also include gains of $0.1 million and $0.4 million, net of taxes of $0.1 million, respectively, related to changes in instrument specific risk, which was reclassified to Principal transactions 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.
[3]
The amount during the nine months ended August 31, 2019 includes income tax benefits of $0.2 million. The cash flow hedge loss of $0.5 million during the nine months ended August 31, 2019 was reclassified to Other revenues within the Consolidated Statement of Earnings due to the sale of all of our common shares of Epic Gas Ltd. (“Epic Gas”). Refer to Note 9, Investments for further information. The amount during the nine months ended August 31, 2018 includes income tax expenses of $0.7 million. The amount during the nine months ended August 31, 2018 also includes ($0.2) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[4] The amount during the nine months ended August 31, 2019 includes income tax expense of approximately $0.2 million