XML 144 R131.htm IDEA: XBRL DOCUMENT v3.21.4
Schedule I (PARENT COMPANY ONLY) - CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Details) - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2021
Nov. 30, 2020
Nov. 30, 2019
Revenues:      
Principal transactions $ 1,505,618 $ 1,867,013 $ 769,258
Revenues from contracts with customers: 5,276,691 3,333,939 2,222,257
Interest 847,969 894,215 1,496,529
Other 219,762 37,632 93,422
Total revenues 7,907,287 6,152,306 4,584,532
Interest expense 863,464 954,829 1,472,002
Net revenues 7,043,823 5,197,477 3,112,530
Non-interest expenses:      
Total non-interest expenses 4,859,870 4,020,023 2,787,861
Earnings before income taxes 2,183,953 1,177,454 324,669
Income tax expense (benefit) 559,229 302,748 80,284
Net earnings 1,624,724 874,706 244,385
Net earnings attributable to Jefferies Group LLC 1,618,731 879,303 246,029
Other comprehensive income (loss), net of tax:      
Currency translation and other adjustments [1] (9,818) 37,535 6,426
Change in instrument specific credit risk [2] (82,521) (52,262) (13,161)
Cash flow hedges [3] 0 0 (470)
Minimum pension liability adjustments, net of tax [4] (739) (2,025) (1,318)
Unrealized gain on available-for-sale securities (244) 372 487
Total other comprehensive loss, net of tax [5] (93,322) (16,380) (8,036)
Comprehensive income attributable to Jefferies Group LLC 1,525,409 862,923 237,993
Investment banking      
Revenues:      
Revenues from contracts with customers: 4,366,055 2,501,494 1,528,729
Parent company      
Revenues:      
Principal transactions 10,347 58,148 13,746
Interest 210,410 214,833 271,369
Other 102,578 (38,874) 19,346
Total revenues 323,335 234,124 304,564
Interest expense 265,005 285,090 297,927
Net revenues 58,330 (50,966) 6,637
Non-interest expenses:      
Total non-interest expenses 47,309 14,854 6,482
Earnings before income taxes 11,021 (65,820) 155
Income tax expense (benefit) 8,130 (19,480) (3,316)
Net earnings 2,891 (46,340) 3,471
Undistributed earnings of subsidiaries 1,615,840 925,643 242,558
Net earnings attributable to Jefferies Group LLC 1,618,731 879,303 246,029
Other comprehensive income (loss), net of tax:      
Currency translation and other adjustments (9,818) 37,535 6,426
Change in instrument specific credit risk (82,521) (52,262) (13,161)
Cash flow hedges 0 0 (470)
Minimum pension liability adjustments, net of tax (739) (2,025) (1,318)
Unrealized gain on available-for-sale securities (244) 372 487
Total other comprehensive loss, net of tax (93,322) (16,380) (8,036)
Comprehensive income attributable to Jefferies Group LLC 1,525,409 862,923 237,993
Parent company | Investment banking      
Revenues:      
Revenues from contracts with customers: $ 0 $ 17 $ 103
[1] The amounts include income tax benefits (expenses) of approximately $0.6 million, $(11.9) million and $(3.2) million during the years ended November 30, 2021, 2020 and 2019, respectively.
[2] The amounts include income tax benefits of approximately $26.7 million, $16.4 million and $4.5 million for the years ended November 30, 2021, 2020 and 2019, respectively. The amounts for the years ended November 30, 2021, 2020 and 2019 include net gains (losses) of $(1.9) million, $(0.4) million and $0.4 million, respectively, net of tax benefits (expenses) of $0.6 million, $0.1 million and $(0.2) million, respectively, related to changes in instrument specific risk, which were reclassified to Principal transactions revenues within the Consolidated Statements of Earnings.
[3] The includes income tax benefits of approximately $0.2 million for the year ended 2019. The cash flow hedge loss of $0.5 million during the year ended November 30, 2019 was reclassified to Other revenues within the Consolidated Statement of Earnings.
[4] The amounts include income tax benefits of $0.2 million, $0.7 million and $0.5 million for the years ended November 30, 2021, 2020 and 2019, respectively. The amounts during the years ended November 30, 2021 and 2020, include pension net gains of $0.4 million and $0.5 million, respectively, net of tax of $0.1 million and $0.2 million, respectively, which were reclassified to Compensation and benefits expenses within the Consolidated Statements of Earnings. The amount during the year ended November 30, 2019 includes pension net gains of $0.1 million, net of negligible tax expenses, which were reclassified to Compensation and benefits expenses within the Consolidated Statements of Earnings.
[5] None of the components of other comprehensive income (loss) are attributable to noncontrolling interests.