CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	May 31, 2021	May 31, 2020
Cash flows from operating activities:
Net earnings	$ 812,318	$ 300,261
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	38,288	31,056
Goodwill impairment	400	3,000
Bad debt expense	39,785	3,703
(Income) loss on loans to and investments in related parties	(121,418)	26,186
Distributions received on investments in related parties	0	35,949
Other adjustments	(76,260)	152,364
Net change in assets and liabilities:
Securities deposited with clearing and depository organizations	(23,788)	(61,212)
Receivables:
Brokers, dealers and clearing organizations	(605,719)	(1,224,951)
Customers	(834,887)	413,489
Fees, interest and other	(50,368)	(13,663)
Securities borrowed	219,788	1,142,449
Financial instruments owned	(1,706,903)	(1,862,147)
Securities purchased under agreements to resell	(1,811,829)	(14,988)
Other assets	(82,185)	(238,505)
Payables:
Brokers, dealers and clearing organizations	2,018,934	471,213
Customers	(60,744)	(153,116)
Securities loaned	461,500	438,246
Financial instruments sold, not yet purchased	1,923,703	(809,925)
Securities sold under agreements to repurchase	(1,244,181)	1,159,948
Lease liabilities	(24,242)	(27,757)
Accrued expenses and other liabilities	(25,350)	294,139
Net cash provided by (used in) operating activities	(1,153,158)	65,739
Cash flows from investing activities:
Contributions to loans to and investments in related parties	(1,984,863)	(1,334,785)
Capital distributions from investments and repayments of loans from related parties	2,004,357	1,307,239
Net payments on premises and equipment	(40,858)	(66,953)
Transfer of net assets from Jefferies Financial Group Inc.	(2,173)	0
Net cash used in investing activities	(23,537)	(94,499)
Cash flows from financing activities:
Proceeds from short-term borrowings	567,000	1,226,800
Payments on short-term borrowings	(905,090)	(1,114,871)
Proceeds from issuance of long-term debt, net of issuance costs	535,569	440,951
Repayment of long-term debt	(46,350)	(647,489)
Contributions from Jefferies Financial Group Inc.	153,557	0
Distributions to Jefferies Financial Group Inc.	(554,148)	(12,580)
Net proceeds from (payments on) other secured financings	765,121	(369,685)
Net change in bank overdrafts	49,187	(3,126)
Proceeds from contributions of noncontrolling interests	2,595	17,405
Payments on distributions to noncontrolling interests	(13,266)	(216)
Net cash provided by (used in) financing activities	554,175	(462,811)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	4,755	(13,547)
Net decrease in cash, cash equivalents and restricted cash	(617,765)	(505,118)
Cash, cash equivalents and restricted cash at beginning of period	7,682,013	6,329,712
Cash, cash equivalents and restricted cash at end of period	7,064,248	5,824,594
Cash paid during the period for
Interest	406,539	543,337
Income taxes, net	$ 330,002	$ 37,449