Accounting Developments (Tables)

11 Months Ended

Nov. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of Impact of Applying New Revenue Recognition Standard

The table below presents the impact of applying the new revenue recognition standard to the Consolidated Statements of Operations for the eleven months ended November 30, 2018 as a result of the change in presentation of investment banking expenses (in thousands):

	Eleven Months Ended November 30, 2018
	As Reported		Impact of Adoption of Revenue Recognition Standard		Financial Results Prior to Adoption of Revenue Recognition Standard
Revenues:
Commissions and other fees	$	634,271	$	—	$	634,271
Principal transactions	232,224		—		232,224
Investment banking	1,904,870		131,789		1,773,081
Interest income	1,294,325		—		1,294,325
Manufacturing revenues	357,427		—		357,427
Other	586,611		—		586,611
Total revenues	5,009,728		131,789		4,877,939
Interest expense of Jefferies Group	1,245,694		—		1,245,694
Net revenues	3,764,034		131,789		3,632,245
Expenses:
Compensation and benefits	1,862,782		—		1,862,782
Cost of sales	307,071		—		307,071
Floor brokerage and clearing fees	184,210		—		184,210
Interest expense	89,249		—		89,249
Depreciation and amortization	120,317		—		120,317
Selling, general and other expenses	961,328		131,789		829,539
Total expenses	3,524,957		131,789		3,393,168
Income from continuing operations before income taxes and income (loss) related to associated companies	$	239,077	$	—	$	239,077