XML 56 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Feb. 29, 2012
Feb. 28, 2011
Cash flows from operating activities:    
Net earnings $ 96,717 $ 102,045
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 17,693 12,841
Bargain purchase gain (3,368)  
Gain on repurchase of long-term debt (9,898)  
Fees related to assigned management agreements (739) (740)
Interest on mandatorily redeemable preferred interests of consolidated subsidiaries 21,844 16,438
Accruals related to various benefit plans and stock issuances, net of forfeitures 24,987 16,230
Increase in cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations (290,223) (157,690)
(Increase) decrease in receivables:    
Brokers, dealers and clearing organizations (482,230) (1,110,309)
Customers 260,225 (537,179)
Fees, interest and other (43,498) (73,977)
Decrease in securities borrowed 135,129 43,413
Decrease (increase) in financial instruments owned 2,591,767 (2,198,779)
Decrease (increase) in loans to and investments in related parties 46,441 (167,169)
Increase in investments in managed funds (2,275) (5,142)
Increase in securities purchased under agreements to resell (1,537,111) (130,021)
Increase in other assets (76,800) (195,096)
(Decrease) increase in payables:    
Brokers, dealers and clearing organizations (1,501,144) 1,179,043
Customers 538,234 546,704
Increase (decrease) in securities loaned 120,968 (101,186)
Increase in financial instruments sold, not yet purchased 1,387,536 834,651
(Decrease) increase in securities sold under agreements to repurchase (1,047,485) 1,232,264
Decrease in accrued expenses and other liabilities (199,438) (306,560)
Net cash provided by (used in) operating activities 47,332 (1,000,219)
Cash flows from investing activities:    
Net payments on premises and equipment (11,642) (14,104)
Cash received from contingent consideration 741 748
Net cash used in investing activities (10,901) (13,356)
Cash flows from financing activities:    
Excess tax benefits from the issuance of share-based awards 29,316 33,763
Proceeds from short-term borrowings 109,513 907,000
Payments on short-term borrowings (67,007) (907,000)
Proceeds from secured credit facility 160,000  
Payments on secured credit facility (10,000)  
Payments on repurchase of long-term debt (1,435)  
Payments on mandatorily redeemable preferred interest of consolidated subsidiaries   (65)
Payments on repurchase of common stock (47,930) (37,761)
Payments on dividends (15,605) (13,395)
Net proceeds from noncontrolling interest   928
Net cash provided by (used in) financing activities 156,852 (16,530)
Effect of foreign currency translation on cash and cash equivalents 2,113 5,440
Net increase (decrease) in cash and cash equivalents 195,396 (1,024,665)
Cash and cash equivalents at beginning of period 2,393,797 2,188,998
Cash and cash equivalents at end of period 2,589,193 1,164,333
Cash paid (received) during the period for:    
Interest 214,800 195,739
Income taxes, net of refunds $ (1,785) $ 55,263