1-5721 (Commission File Number) | 13-2615557 (I.R.S. Employer Identification No.) |
520 Madison Avenue New York, New York (Address of Principal Executive Offices) | 10022 (Zip Code) |
LEUCADIA NATIONAL CORPORATION | |
By: | /s/ Teresa S. Gendron |
Name: | Teresa S. Gendron |
Title: | Vice President and Chief Financial Officer |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Net revenues | $ | 2,896,522 | $ | 2,676,375 | $ | 8,496,884 | $ | 7,316,839 | ||||||||
Income (loss) before income taxes and income (loss) related to associated companies | $ | 169,970 | $ | 213,406 | $ | 807,219 | $ | (21,037 | ) | |||||||
Income (loss) related to associated companies | 30,057 | 36,503 | (84,413 | ) | 108,445 | |||||||||||
Income before income taxes | 200,027 | 249,909 | 722,806 | 87,408 | ||||||||||||
Income tax provision | 63,260 | 73,703 | 218,054 | 59,192 | ||||||||||||
Net income | 136,767 | 176,206 | 504,752 | 28,216 | ||||||||||||
Net (income) loss attributable to the noncontrolling interests | (28 | ) | 1,870 | 1,941 | 3,682 | |||||||||||
Net income attributable to the redeemable noncontrolling interests | (36,216 | ) | (22,702 | ) | (64,538 | ) | (40,084 | ) | ||||||||
Preferred stock dividends | (1,172 | ) | (1,016 | ) | (3,203 | ) | (3,047 | ) | ||||||||
Net income (loss) attributable to Leucadia National Corporation common shareholders | $ | 99,351 | $ | 154,358 | $ | 438,952 | $ | (11,233 | ) | |||||||
Basic earnings (loss) per common share attributable to Leucadia National Corporation common shareholders: | ||||||||||||||||
Net income (loss) | $ | 0.27 | $ | 0.41 | $ | 1.19 | $ | (0.03 | ) | |||||||
Number of shares in calculation | 367,828 | 370,404 | 368,736 | 371,814 | ||||||||||||
Diluted earnings (loss) per common share attributable to Leucadia National Corporation common shareholders: | ||||||||||||||||
Net income (loss) | $ | 0.27 | $ | 0.41 | $ | 1.17 | $ | (0.03 | ) | |||||||
Number of shares in calculation | 370,198 | 374,567 | 375,233 | 371,814 |
Jefferies | National Beef | Other Financial Services Businesses and Investments | Other Merchant Banking Businesses and Investments | Corporate and Other | Parent Company Interest | Total | |||||||||||||||||||||
2017 | |||||||||||||||||||||||||||
Net revenues | $ | 802,909 | $ | 2,039,299 | $ | 37,707 | $ | (5,115 | ) | $ | 21,722 | $ | — | $ | 2,896,522 | ||||||||||||
Expenses: | |||||||||||||||||||||||||||
Cost of sales | — | 1,816,480 | — | 71,596 | — | — | 1,888,076 | ||||||||||||||||||||
Compensation and benefits | 462,933 | 10,505 | 15,217 | 4,511 | 11,665 | — | 504,831 | ||||||||||||||||||||
Floor brokerage and clearing fees | 42,852 | — | — | — | — | — | 42,852 | ||||||||||||||||||||
Interest | — | 1,713 | 9,936 | 939 | — | 14,737 | 27,325 | ||||||||||||||||||||
Depreciation and amortization | 15,928 | 26,664 | 2,439 | 9,528 | 865 | — | 55,424 | ||||||||||||||||||||
Selling, general and other expenses | 153,084 | 9,458 | 20,362 | 19,445 | 5,695 | — | 208,044 | ||||||||||||||||||||
Total expenses | 674,797 | 1,864,820 | 47,954 | 106,019 | 18,225 | 14,737 | 2,726,552 | ||||||||||||||||||||
Income (loss) before income taxes and income (loss) related to associated companies | 128,112 | 174,479 | (10,247 | ) | (111,134 | ) | 3,497 | (14,737 | ) | 169,970 | |||||||||||||||||
Income (loss) related to associated companies | — | — | 30,902 | 1,057 | (1,902 | ) | — | 30,057 | |||||||||||||||||||
Income (loss) before income taxes | $ | 128,112 | $ | 174,479 | $ | 20,655 | $ | (110,077 | ) | $ | 1,595 | $ | (14,737 | ) | $ | 200,027 |
2016 | |||||||||||||||||||||||||||
Net revenues | $ | 656,496 | $ | 1,747,042 | $ | 54,742 | $ | 217,089 | $ | 1,006 | $ | — | $ | 2,676,375 | |||||||||||||
Expenses: | |||||||||||||||||||||||||||
Cost of sales | — | 1,595,671 | — | 93,422 | — | — | 1,689,093 | ||||||||||||||||||||
Compensation and benefits | 376,438 | 9,660 | 15,100 | 7,334 | 10,183 | — | 418,715 | ||||||||||||||||||||
Floor brokerage and clearing fees | 40,189 | — | — | — | — | — | 40,189 | ||||||||||||||||||||
Interest | — | 2,967 | 4,596 | 836 | — | 14,722 | 23,121 | ||||||||||||||||||||
Depreciation and amortization | 16,108 | 23,100 | 3,882 | 8,734 | 867 | — | 52,691 | ||||||||||||||||||||
Selling, general and other expenses | 140,571 | 7,375 | 13,826 | 70,569 | 6,819 | — | 239,160 | ||||||||||||||||||||
Total expenses | 573,306 | 1,638,773 | 37,404 | 180,895 | 17,869 | 14,722 | 2,462,969 | ||||||||||||||||||||
Income (loss) before income taxes and income related to associated companies | 83,190 | 108,269 | 17,338 | 36,194 | (16,863 | ) | (14,722 | ) | 213,406 | ||||||||||||||||||
Income related to associated companies | — | — | 27,806 | 8,453 | 244 | — | 36,503 | ||||||||||||||||||||
Income (loss) before income taxes | $ | 83,190 | $ | 108,269 | $ | 45,144 | $ | 44,647 | $ | (16,619 | ) | $ | (14,722 | ) | $ | 249,909 |
Jefferies | National Beef | Other Financial Services Businesses and Investments | Other Merchant Banking Businesses and Investments | Corporate and Other | Parent Company Interest | Total | |||||||||||||||||||||
2017 | |||||||||||||||||||||||||||
Net revenues | $ | 2,381,967 | $ | 5,476,274 | $ | 153,270 | $ | 453,625 | $ | 31,748 | $ | — | $ | 8,496,884 | |||||||||||||
Expenses: | |||||||||||||||||||||||||||
Cost of sales | — | 5,030,887 | — | 210,834 | — | — | 5,241,721 | ||||||||||||||||||||
Compensation and benefits | 1,374,127 | 29,649 | 45,349 | 13,880 | 37,582 | — | 1,500,587 | ||||||||||||||||||||
Floor brokerage and clearing fees | 133,145 | — | — | — | — | — | 133,145 | ||||||||||||||||||||
Interest | — | 5,781 | 29,797 | 2,764 | — | 44,201 | 82,543 | ||||||||||||||||||||
Depreciation and amortization | 46,877 | 73,522 | 8,003 | 24,650 | 2,599 | — | 155,651 | ||||||||||||||||||||
Selling, general and other expenses | 444,724 | 26,428 | 47,463 | 36,511 | 20,892 | — | 576,018 | ||||||||||||||||||||
Total expenses | 1,998,873 | 5,166,267 | 130,612 | 288,639 | 61,073 | 44,201 | 7,689,665 | ||||||||||||||||||||
Income (loss) before income taxes and income (loss) related to associated companies | 383,094 | 310,007 | 22,658 | 164,986 | (29,325 | ) | (44,201 | ) | 807,219 | ||||||||||||||||||
Income (loss) related to associated companies | — | — | (91,866 | ) | 8,295 | (842 | ) | — | (84,413 | ) | |||||||||||||||||
Income (loss) before income taxes | $ | 383,094 | $ | 310,007 | $ | (69,208 | ) | $ | 173,281 | $ | (30,167 | ) | $ | (44,201 | ) | $ | 722,806 |
2016 | |||||||||||||||||||||||||||
Net revenues | $ | 1,678,212 | $ | 5,180,127 | $ | (71,338 | ) | $ | 451,484 | $ | 78,354 | $ | — | $ | 7,316,839 | ||||||||||||
Expenses: | |||||||||||||||||||||||||||
Cost of sales | — | 4,856,045 | — | 257,470 | — | — | 5,113,515 | ||||||||||||||||||||
Compensation and benefits | 1,141,873 | 28,628 | 44,292 | 22,083 | 29,337 | — | 1,266,213 | ||||||||||||||||||||
Floor brokerage and clearing fees | 124,259 | — | — | — | — | — | 124,259 | ||||||||||||||||||||
Interest | — | 10,730 | 10,988 | 2,272 | — | 44,155 | 68,145 | ||||||||||||||||||||
Depreciation and amortization | 45,331 | 68,511 | 9,973 | 26,501 | 2,754 | — | 153,070 | ||||||||||||||||||||
Selling, general and other expenses | 421,876 | 23,680 | 31,806 | 111,898 | 23,414 | — | 612,674 | ||||||||||||||||||||
Total expenses | 1,733,339 | 4,987,594 | 97,059 | 420,224 | 55,505 | 44,155 | 7,337,876 | ||||||||||||||||||||
Income (loss) before income taxes and income related to associated companies | (55,127 | ) | 192,533 | (168,397 | ) | 31,260 | 22,849 | (44,155 | ) | (21,037 | ) | ||||||||||||||||
Income related to associated companies | — | — | 86,121 | 21,247 | 1,077 | — | 108,445 | ||||||||||||||||||||
Income (loss) before income taxes | $ | (55,127 | ) | $ | 192,533 | $ | (82,276 | ) | $ | 52,507 | $ | 23,926 | $ | (44,155 | ) | $ | 87,408 |