Investments In Associated Companies (Tables)

12 Months Ended

Dec. 31, 2011

Investments In Associated Companies [Abstract]

Schedule Of Investments In Associated Companies

	2011		2010
Investments in associated companies accounted for
under the equity method of accounting (a):
Jefferies High Yield Holdings, LLC ("JHYH")	$	323,262	$	321,023
Berkadia		193,496		475,071
Garcadia		72,303		35,943
HomeFed Corporation ("HomeFed")		47,493		46,083
Brooklyn Renaissance Plaza		31,931		30,539
Linkem S.p.A. ("Linkem")		86,332		–
Other		38,949		51,277
Total accounted for under the equity method of accounting		793,766		959,936
Investments in associated companies carried at fair value:
Jefferies		797,583		1,314,227
Mueller		400,446		–
Total accounted for at fair value		1,198,029		1,314,227
Total investments in associated companies	$	1,991,795	$	2,274,163

(a)   Investments accounted for under the equity method of accounting are initially recorded at their original cost and subsequently increased for the Company's share of the investees' earnings, decreased for the Company's share of the investees' losses, reduced for dividends received and impairment charges recorded, if any, and increased for any additional investment of capital.

Schedule Of Income (Losses) Related To Associated Companies

	2011			2010			2009
Jefferies	$	(668,282	)	$	157,873		$	469,820
Mueller		(6,093	)		–			–
ACF		–			183,572			376,490
Berkadia		29,033			16,166			20,811
Garcadia		19,996			14,424			(25,668	)
JHYH		11,211			20,053			37,249
Linkem		(2,243	)		–			–
HomeFed		1,410			1,108			882
Keen Energy Services, LLC ("Keen")		–			–			(45,475	)
Las Cruces		–			(16,159	)		1,046
Other		2,606			(2,016	)		(29,352	)
Income (losses) related to associated
companies before income taxes		(612,362	)		375,021			805,803
Income tax (expense) benefit		218,321			5,745			(25,567	)
Income (losses) related to associated
companies, net of taxes	$	(394,041	)	$	380,766		$	780,236

Schedule Of Summarized Data For Investments In Associated Companies

	2011		2010
Assets	$	6,849,185	$	4,190,534
Liabilities		3,813,236		1,882,116
Mandatorily redeemable interests		982,057		975,812
Noncontrolling interest		47,675		17,471
		2011		2010		2009
Total revenues (including securities gains (losses))	$	3,823,061	$	1,124,140	$	690,156
Income (loss) from continuing operations before
extraordinary items	$	148,661	$	43,688	$	(294,741	)
Net income (loss)	$	148,661	$	43,797	$	(294,741	)
The Company's income (losses) related to
associated companies	$	55,920	$	33,576	$	(40,507	)