Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2014

Schedule Of Assets And Liabilities Measured On Recurring Basis At Fair Value


		September 30, 2014
									Counterparty
									and
									Cash
									Collateral
		Level 1 (1)		Level 2 (1)		Level 3			Netting (2)			Total
Assets:
Trading assets, at fair value:
Corporate equity securities	$	3,141,769	$	336,954	$	7,777		$			$	3,486,500
Corporate debt securities				3,294,075		36,884						3,330,959
Collateralized debt obligations				258,442		43,740						302,182
U.S. government and federal agency securities		3,375,064		108,067		2,494						3,485,625
Municipal securities				468,656								468,656
Sovereign obligations		1,570,726		840,524								2,411,250
Residential mortgage-backed securities				2,456,612		81,034						2,537,646
Commercial mortgage-backed securities				942,224		19,327						961,551
Other asset-backed securities				80,556		2,079						82,635
Loans and other receivables				1,419,105		188,025						1,607,130
Derivatives		91,950		3,414,340		1,204			(3,148,819	)		358,675
Investments at fair value				5,541		139,478						145,019
Physical commodities				63,831								63,831
Total trading assets	$	8,179,509	$	13,688,927	$	522,042		$	(3,148,819	)	$	19,241,659

Level 3 trading assets for which we do not bear
economic exposure (3)						(18,948	)
Level 3 trading assets for which we do bear
economic exposure					$	503,094

Available for sale securities:
Corporate equity securities	$	88,744	$		$			$			$	88,744
Corporate debt securities				30,587								30,587
U.S. government securities		866,867										866,867
Residential mortgage-backed securities				596,378								596,378
Commercial mortgage-backed securities				46,198								46,198
Other asset-backed securities				237,641								237,641
Total available for sale securities	$	955,611	$	910,804	$			$			$	1,866,415
Cash and cash equivalents	$	4,247,878	$		$			$			$	4,247,878
Investments in managed funds	$		$	225,677	$	58,322		$			$	283,999
Cash and securities segregated and on deposit for regulatory
purposes or deposited with clearing and depository
organizations (4)	$	3,301,185	$		$			$			$	3,301,185
Securities received as collateral	$	8,326	$		$			$			$	8,326

Liabilities:
Trading liabilities:
Corporate equity securities	$	1,749,610	$	66,422	$	38		$			$	1,816,070
Corporate debt securities				1,617,826		242						1,618,068
Collateralized debt obligations				500								500
U.S. government and federal agency securities		2,851,698										2,851,698
Sovereign obligations		1,457,265		824,142								2,281,407
Residential mortgage-backed securities				3,114								3,114
Loans				825,758		6,661						832,419
Derivatives		230,856		3,161,500		14,784			(3,140,135	)		267,005
Physical commodities				52,966								52,966
Total trading liabilities	$	6,289,429	$	6,552,228	$	21,725		$	(3,140,135	)	$	9,723,247
Other secured financings	$		$		$	31,666		$			$	31,666
Obligation to return securities received as collateral	$	8,326	$		$			$			$	8,326


		December 31, 2013
								Counterparty
								and
								Cash
								Collateral
		Level 1 (1)		Level 2 (1)		Level 3		Netting (2)			Total
Assets:
Trading assets, at fair value:
Corporate equity securities	$	1,957,963	$	175,493	$	9,884	$			$	2,143,340
Corporate debt securities				2,961,857		25,666					2,987,523
Collateralized debt obligations				182,095		37,216					219,311
U.S. government and federal agency securities		2,293,221		40,389							2,333,610
Municipal securities				664,054							664,054
Sovereign obligations		1,458,803		889,685							2,348,488
Residential mortgage-backed securities				2,932,268		105,492					3,037,760
Commercial mortgage-backed securities				1,130,410		17,568					1,147,978
Other asset-backed securities				55,475		12,611					68,086
Loans and other receivables				1,203,238		145,890					1,349,128
Derivatives		40,952		2,472,238		1,493		(2,253,589	)		261,094
Investments at fair value				40		101,242					101,282
Physical commodities				37,888							37,888
Total trading assets	$	5,750,939	$	12,745,130	$	457,062	$	(2,253,589	)	$	16,699,542

Available for sale securities:
Corporate equity securities	$	252,531	$		$		$			$	252,531
Corporate debt securities				51,163							51,163
U.S. government securities		1,781,266									1,781,266
Residential mortgage-backed securities				579,162							579,162
Commercial mortgage-backed securities				17,985							17,985
Other asset-backed securities				184,036							184,036
Total available for sale securities	$	2,033,797	$	832,346	$		$	$		$	2,866,143
Cash and cash equivalents	$	3,907,595	$		$		$			$	3,907,595
Investments in managed funds	$		$		$	57,285	$			$	57,285
Cash and securities segregated and on deposit for regulatory
purposes or deposited with clearing and depository
organizations (4)	$	3,616,602	$		$		$			$	3,616,602
Securities received as collateral	$	11,063	$		$		$			$	11,063

Liabilities:
Trading liabilities:
Corporate equity securities	$	1,804,392	$	40,358	$	38	$			$	1,844,788
Corporate debt securities				1,346,078							1,346,078
U.S. government and federal agency securities		1,324,326									1,324,326
Sovereign obligations		1,360,269		471,088							1,831,357
Residential mortgage-backed securities				34,691							34,691
Loans				672,838		22,462					695,300
Derivatives		43,829		2,480,463		8,398		(2,352,611	)		180,079
Physical commodities				36,483							36,483
Total trading liabilities	$	4,532,816	$	5,081,999	$	30,898	$	(2,352,611	)	$	7,293,102
Other secured financings	$		$	31,000	$	8,711	$			$	39,711
Obligation to return securities received as collateral	$	11,063	$		$		$			$	11,063

(1)	There were no transfers between Level 1 and Level 2 during the nine months ended September 30, 2014. During the year ended December 31, 2013, listed equity options with a fair value of $403.0 million within Trading assets and $423.0 million within Trading liabilities were transferred from Level 1 to Level 2 as adjustments to the exchange closing price are necessary to best reflect the fair value of the population at its exit price.
(2)	Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty.
(3)	Consists of assets which are financed by nonrecourse secured financing.
(4)	Securities comprise U.S. government securities segregated for regulatory purposes with a fair value of $564.3 million and $304.2 million at September 30, 2014 and December 31, 2013, respectively.

Investments Measured At Fair Value Based On Net Asset Value


				September 30, 2014
					Redemption
				Unfunded	Frequency
		Fair Value (1)		Commitments	(if currently eligible)

Equity Long/Short Hedge Funds (2)	$	141,448	$		Monthly/Quarterly
High Yield Hedge Funds (3)		210
Fund of Funds (4)		334		94
Equity Funds (5)		69,232		26,023
Convertible Bond Funds (6)		3,590			At Will
Multi-strategy Fund (7)		104,122
Total (8)	$	318,936	$	26,117


		December 31, 2013
					Redemption
				Unfunded	Frequency
		Fair Value (1)		Commitments	(if currently eligible)

Equity Long/Short Hedge Funds (2)	$	20,927	$		Monthly/Quarterly
High Yield Hedge Funds (3)		244
Fund of Funds (4)		494		94
Equity Funds (5)		66,495		40,816
Convertible Bond Funds (6)		3,473			At Will
Total (8)	$	91,633	$	40,910

(1)	Where fair value is calculated based on net asset value, fair value has been derived from each of the funds capital statements.
(2)	This category includes investments in hedge funds that invest, long and short, in equity securities in domestic and international markets in both the public and private sectors. At September 30, 2014 and December 31, 2013, investments representing approximately 99% and 98%, respectively, of the fair value of investments in this category are redeemable with 30 to 65 days prior written notice, and includes an investment in a private asset management fund managed by us with a fair value of $118.0 million at September 30, 2014.
(3)	Includes investments in funds that invest in domestic and international public high yield debt, private high yield investments, senior bank loans, public leveraged equities, distressed debt, and private equity investments. There are no redemption provisions. The underlying assets of the funds are being liquidated and we are unable to estimate when the underlying assets will be fully liquidated.
(4)	Includes investments in fund of funds that invest in various private equity funds. At September 30, 2014 and December 31, 2013, approximately 96% and 98%, respectively, of the fair value of investments in this category is managed by us and has no redemption provisions, instead distributions are received through the liquidation of the underlying assets of the fund of funds, which are estimated to be liquidated in approximately two years. For the remaining investments, we have requested redemption; however, we are unable to estimate when these funds will be received.
(5)	At September 30, 2014 and December 31, 2013, investments representing approximately 99% and 99%, respectively, of the fair value of investments in this category include investments in equity funds that invest in the equity of various U.S. and foreign private companies in the energy, technology, internet service and telecommunication service industries. These investments cannot be redeemed, instead distributions are received through the liquidation of the underlying assets of the funds which are expected to liquidate in one to eight years. The remaining investments are in liquidation and we are unable to estimate when the underlying assets will be fully liquidated. At September 30, 2014 and December 31, 2013, this category includes investments in equity funds managed by us with a fair value of $58.8 million and $54.4 million, respectively, and unfunded commitments of $24.4 million and $39.2 million, respectively.
(6)	Investment in the Jefferies Umbrella Fund, an open-ended investment company managed by us that invests primarily in convertible bonds. The investment is redeemable with 5 days prior written notice.
(7)	Investment in private asset management fund managed by us that employs a variety of investment strategies and can invest in U.S. and non-U.S. equity and equity related securities, futures, exchange traded funds, fixed income securities, preferred securities, options, forward contracts and swaps. Withdrawals from the fund prior to the first year anniversary of the investment are subject to a 5% withdrawal fee and withdrawals during any calendar quarter are limited to 25% of the funds net asset value. Both of these restrictions can be waived by us, in our sole discretion.
(8)	Investments at fair value in the Consolidated Statements of Financial Condition at September 30, 2014 and December 31, 2013, include $110.1 million and $66.9 million, respectively, of direct investments which do not have the characteristics of investment companies and therefore not included within this table.

Summary Of Trading Assets And Trading Liabilities


	September 30, 2014				December 31, 2013
	Trading Assets		Trading Liabilities		Trading Assets		Trading Liabilities

Exchange closing prices	13	%	18	%	12	%	25	%
Recently observed transaction prices	3	%	3	%	5	%	4	%
External pricing services	70	%	72	%	68	%	66	%
Broker quotes	4	%	3	%	3	%	3	%
Valuation techniques	10	%	4	%	12	%	2	%
	100	%	100	%	100	%	100	%

Summary Of Changes In Fair Value Of Financial Assets And Liabilities Classified As Level 3

Three Months Ended September 30, 2014


																						Changes in
																						unrealized
																						gains (losses)
																						relating to
				Total gains																		instruments
		Balance,		(losses)													Net transfers			Balance,		still held at
		June 30,		(realized and													into (out of)			September 30,		September 30,
		2014		unrealized) (1)			Purchases			Sales		Settlements			Issuances		Level 3			2014		2014 (1)

Assets:
Trading assets:
Corporate equity securities	$	16,402	$	(480	)	$	4,528		$	(529	)	$		$		$	(12,144	)	$	7,777	$	(286	)
Corporate debt securities		31,648		5,454			21,793			(15,713	)		(34	)			(6,264	)		36,884		3,470
Collateralized debt obligations		42,313		(845	)		7,613			(15,204	)						9,863			43,740		(1,575	)
U.S. government and federal
agency securities				(11	)		2,505													2,494		(11	)
Residential mortgage-backed
securities		71,962		(2,557	)		3,981			(9,635	)		(325	)			17,608			81,034		(302	)
Commercial mortgage-backed
securities		24,246		(256	)		641			(7,068	)						1,764			19,327		(832	)
Other asset-backed securities		45,444		1,272			50,620			(49,411	)		(8,774	)			(37,072	)		2,079		(3	)
Loans and other receivables		138,643		(8,074	)		194,387			(96,340	)		(40,617	)			26			188,025		(7,967	)
Investments at fair value		140,452		706			500			(7,232	)		(305	)			5,357			139,478		815
Investments in managed funds		56,119		734			1,469													58,322		734

Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$				$			$		$		$		$			$	38	$
Corporate debt securities		2,780		(101	)		(2,566	)									129			242		67
Net derivatives (2)		15,282		(1,632	)		(74	)		74			(70	)						13,580		70
Loans		31,534					(16,307	)									(8,566	)		6,661
Other secured financings		20,288											(7,570	)	18,948					31,666

(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.


Nine Months Ended September 30, 2014


																						Changes in
																						unrealized
																						gains (losses)
																						relating to
				Total gains																		instruments
		Balance,		(losses)													Net transfers			Balance,		still held at
		December 31,		(realized and													into (out of)			September 30,		September 30,
		2013		unrealized) (1)			Purchases			Sales		Settlements			Issuances		Level 3			2014		2014 (1)

Assets:
Trading assets:
Corporate equity securities	$	9,884	$	(1,528	)	$	36,661		$	(31,444	)	$		$		$	(5,796	)	$	7,777	$	(400	)
Corporate debt securities		25,666		10,727			137,164			(128,733	)						(7,940	)		36,884		10,177
Collateralized debt obligations		37,216		5,198			94,743			(99,661	)						6,244			43,740		(6,283	)
U.S. government and federal
agency securities				(11	)		2,505													2,494		(11	)
Residential mortgage-backed
securities		105,492		(6,974	)		44,454			(65,229	)		(812	)			4,103			81,034		(3,564	)
Commercial mortgage-backed
securities		17,568		(3,120	)		34,959			(32,774	)		(1,315	)			4,009			19,327		(3,380	)
Other asset-backed securities		12,611		256			52,495			(52,282	)		(8,804	)			(2,197	)		2,079
Loans and other receivables		145,890		(9,028	)		247,383			(147,851	)		(61,791	)			13,422			188,025		(8,961	)
Investments at fair value		101,242		30,393			30,660			(20,954	)		(945	)			(918	)		139,478		15,904
Investments in managed funds		57,285		(10,515	)		14,875										(3,323	)		58,322		(10,515	)

Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$			$			$			$		$		$				38	$
Corporate debt securities				163			(7	)		97							(11	)		242		163
Net derivatives (2)		6,905		9,959			(124	)		(76	)		248				(3,332	)		13,580		(10,519	)
Loans		22,462					(15,472	)		3,549							(3,878	)		6,661
Other secured financings		8,711											(16,684	)	39,639					31,666

(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.

Three Months Ended September 30, 2013 (3)


																			Changes in
																			unrealized gains
																			(losses) relating
				Total gains															to instruments
				(losses)										Net transfers					still held at
		Beginning		(realized and										into (out of)			Ending		September 30,
		Balance		unrealized) (1)		Purchases			Sales		Settlements			Level 3			Balance		2013 (1)

Assets:
Trading assets:
Corporate equity securities	$	19,577	$	(788	)	$		$	(930	)	$		$	(1,780	)	$	16,079	$	(786	)
Corporate debt securities		18,615		(4,285	)	68			(571	)				6,806			20,633		(4,342	)
Collateralized debt obligations		45,124		(1,903	)	8,222			(4,236	)				(1,335	)		45,872		(2,388	)
Residential mortgage-backed
securities		143,766		(1,876	)	33,831			(50,938	)	(2,306	)		9,706			132,183		(3,898	)
Commercial mortgage-backed
securities		16,068		2,033		130			(310	)	(3,703	)		205			14,423		(1,106	)
Other asset-backed securities		1,444		2,170		7,576			(3,279	)				659			8,570		2,142
Loans and other receivables		117,496		(198	)	52,246			(12,139	)	(25,395	)		(1,558	)		130,452		609
Investments, at fair value		76,364		1,848					(101	)	(710	)		(3,949	)		73,452		2,002
Investments in managed funds		55,141		4,034		6,598					(9,876	)					55,897		4,034

Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$			$		$			$		$			$	38	$
Net derivatives (2)		10,799		3,899							(60	)					14,638		(3,899	)
Loans		15,212				(14,952	)		716								976
Other secured financings		2,294		731													3,025		(731	)

(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
(3)	There were no issuances during the three months ended September 30, 2013.


		Period from the Jefferies Acquisition through September 30, 2013 (3)
																					Changes in
																					unrealized gains
																					(losses) relating
				Total gains																	to instruments
				(losses)												Net transfers					still held at
		Beginning		(realized and												into (out of)			Ending		September 30,
		Balance		unrealized) (1)		Purchases				Sales			Settlements			Level 3			Balance		2013	(1)

Assets:
Trading assets:
Corporate equity securities	$	13,234	$	1,053		$	213		$	(753	)	$	266		$	2,066		$	16,079	$	1,243
Corporate debt securities		31,820		(17,415	)		708			(2,556	)					8,076			20,633		(6,933	)
Collateralized debt obligations		29,776		(2,008	)		43,152			(27,676	)					2,628			45,872		(3,830	)
Residential mortgage-backed
securities		169,426		5,594			79,531			(105,671	)		(4,851	)		(11,846	)		132,183		586
Commercial mortgage-backed
securities		17,794		(735	)		1,533			(3,054	)		(5,281	)		4,166			14,423		(5,007	)
Other asset-backed securities		1,252		2,168			7,618			(3,127	)					659			8,570		2,077
Loans and other receivables		170,986		(5,103	)		206,672			(26,630	)		(213,662	)		(1,811	)		130,452		(8,063	)
Investments, at fair value		70,067		653			5,000			(102	)		(3,204	)		1,038			73,452		668
Investments in managed funds		59,976		3,108			9,130						(16,439	)		122			55,897		3,108

Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$			$			$			$			$			$	38	$
Residential mortgage-backed
securities		1,542		(1,542	)
Net derivatives (2)		11,185		3,453															14,638		(3,453	)
Loans		7,398					(20,221	)		13,799									976
Other secured financings				731												2,294			3,025		(731	)

(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
(3)	There were no issuances.

Quantitative Information About Significant Unobservable Inputs Used In Level 3 Fair Value Measurements


	September 30, 2014

		Fair Value	Valuation	Significant				Weighted
Financial Instruments Owned		(in thousands)	Technique	Unobservable Input(s)		Input/Range		Average

Corporate equity securities	$	7,777
Non-exchange traded securities			Market approach	EBITDA (a) multiple		3.05
				Transaction Level		2.95

Corporate debt securities	$	34,965	Market approach	Yield		3.7% to 4.4%		4.2%
			Convertible bond model	Discount rate/yield		31.9%
			Discounted cash flows	Constant prepayment rate		20.0%
				Constant default rate		2.0%
				Loss severity		25.0%
				Yield		16.0%

Collateralized debt obligations	$	41,690	Discounted cash flows	Constant prepayment rate		10% to 20%		15.29%
				Constant default rate		2%
				Loss severity		25% to 95%		55.70%
				Yield		0% to 47.3%		7.83%

U.S. government and federal agency securities	$	2,494	Market approach	Transaction level	$	100

Residential mortgage-backed securities	$	81,034	Discounted cash flows	Constant prepayment rate		3% to 50%		11.9%
				Constant default rate		1% to 100%		14.5%
				Loss severity		20% to 80%		48.4%
				Yield		1.2% to 12.6%		6.0%

Commercial mortgage-backed securities	$	19,327	Discounted cash flows	Yield		7.6% to 15%		11.6%	%
				Cumulative loss rate		4.6% to 74%		16.7%	%

Other asset-backed securities	$	2,079	Discounted cash flows	Constant prepayment rate		0%
				Constant default rate		0%
				Loss severity		0%
				Yield		7%


Loans and other receivables	$	179,189	Comparable pricing	Comparable bond or loan price	$	92.5to $100	$	99.63
			Market approach	Yield		2.6% to 4.6%		3.9%
				EBITDA (a) multiple		3.05to 7		6.64
			Scenario analysis	Estimated recovery percentage		10.33% to 81.3%		70.9%

Investments at fair value
Private equity securities	$	52,226	Comparable pricing	Comparable share price	$	26.80
			Market approach	Transaction Level	$	50.36
			Market approach	Discount rate		15% to 30%		23%

		Fair Value	Valuation	Significant				Weighted
Trading Liabilities		(in thousands)	Technique	Unobservable Input(s)		Input/Range		Average

Derivatives
Unfunded commitments	$	14,784	Comparable pricing	Comparable loan price	$	93.5to $99.625	$	94.64
			Market approach	Yield		4.582%


	December 31, 2013

		Fair Value	Valuation	Significant					Weighted
Financial Instruments Owned		(in thousands)	Technique	Unobservable Input(s)		Input/Range			Average

Corporate equity securities	$	8,034
Non-exchange traded securities			Market approach	EBITDA (a) multiple		4.0to 5.5			4.53
Warrants			Option model	Volatility		36	%

Corporate debt securities	$	17,699	Scenario analysis	Estimated recovery percentage		24	%

			Comparable pricing	Comparable bond or loan price	$	69.10to $70.50		$	69.91
			Market approach	Yield		13	%

Collateralized debt obligations	$	34,316	Discounted cash flows	Constant prepayment rate		0% to 20%			13	%
				Constant default rate		2% to 3%			2	%
				Loss severity		30% to 85%			38	%
				Yield		3% to 91%			28	%

Residential mortgage-backed securities	$	105,492	Discounted cash flows	Constant prepayment rate		2% to 50%			11	%
				Constant default rate		1% to 100%			17	%
				Loss severity		30% to 90%			48	%
				Yield		0% to 20%			7	%

Commercial mortgage-backed securities	$	17,568	Discounted cash flows	Yield		12% to 20%			14	%
				Cumulative loss rate		5% to 28.2%			11	%

Other asset-backed securities	$	12,611	Discounted cash flows	Constant prepayment rate		4% to 30%			17	%
				Constant default rate		2% to 11%			7	%
				Loss severity		40% to 92%			64	%
				Yield		3% to 29%			18	%

Loans and other receivables	$	101,931	Comparable pricing	Comparable bond or loan price	$	91to $101		$	98.90
			Market approach	Yield		8.75% to 13.5%			10	%
				EBITDA (a) multiple		6.9
			Scenario analysis	Estimated recovery percentage		16.9% to 92%			74	%

Derivatives
Loan commitments	$	1,493	Comparable pricing	Comparable bond or loan price	$	100.875

Investments at fair value
Private equity securities	$	30,203	Comparable pricing	Comparable share price	$	414
			Market approach	Discount rate		15% to 30%			23	%

		Fair Value	Valuation	Significant					Weighted
Trading Liabilities		(in thousands)	Technique	Unobservable Input(s)		Input/Range			Average

Derivatives
Equity options	$	8,398	Option model	Volatility		36.25% to 41%			39	%

Loans	$	8,106	Comparable pricing	Comparable bond or loan price	$	101.88

(a) Earnings before interest, taxes, depreciation and amortization (EBITDA).

Summary Of Gains (Losses) Due To Changes In Instrument Specific Credit Risk For Loans and Other Receivables And Loan Commitments Measured At Fair Value Under Fair Value Option


		For the Three Month					For the Nine Month
		Period Ended September 30,					Period Ended September 30,
		2014			2013		2014			2013
Financial Instruments Owned:
Loans and other receivables	$	(15,002	)	$	1,097	$	(12,841	)	$	2,284

Financial Instruments Sold:
Loans	$	103		$		$	(751	)	$
Loan commitments	$	1,338		$	4,440	$	(10,299	)	$	(2,059	)

Summary Of Amount By Which Contractual Principal Exceeds Fair Value For Loans And Other Receivables Measured At Fair Value Under Fair Value Option


		September 30,			December 31,
		2014			2013

Loans and other receivables (1)	$	333,925		$	264,896
Loans and other receivables greater than 90 days past due (1)	$	4,443		$
Loans and other receivables on nonaccrual status (1) (2)	$	(42,085	)	$

(1)	Interest income is recognized separately from other changes in fair value and is included within Interest income in the Consolidated Statements of Operations.
(2)	Amount includes all loans and other receivables greater than 90 or more days past due.

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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