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Common Shares and Earnings Per Common Share
 12 Months Ended
Nov. 30, 2022
Earnings Per Share [Abstract]  
Common Shares and Earnings Per Common Share Common Shares and Earnings Per Common Share
Basic and diluted earnings per common share amounts were calculated by dividing net earnings by the weighted-average number of common shares outstanding. The numerators and denominators used to calculate basic and diluted earnings per share are as follows (in thousands):
Year Ended November 30,
 202220212020
Numerator for earnings per common share:
Net earnings attributable to Jefferies Financial Group Inc.$777,168 $1,667,403 $769,605 
Allocation of earnings to participating securities (1)(3,015)(9,961)(4,795)
Net earnings attributable to Jefferies Financial Group Inc. common shareholders for basic earnings per share774,153 1,657,442 764,810 
Adjustment to allocation of earnings to participating securities related to diluted shares (1)29 207 23 
Mandatorily redeemable convertible preferred share dividends8,281 6,949 5,634 
Net earnings attributable to Jefferies Financial Group Inc. common shareholders for diluted earnings per share$782,463 $1,664,598 $770,467 
Denominator for earnings per common share: 
Weighted average common shares outstanding234,258 246,991 268,518 
Weighted average shares of restricted stock outstanding with future service required(1,330)(1,567)(1,785)
Weighted average RSUs outstanding with no future service required14,450 18,171 18,960 
Denominator for basic earnings per common share – weighted average shares247,378 263,595 285,693 
Stock options and other share-based awards1,518 1,203 — 
Senior executive compensation plan RSU awards2,234 2,262 356 
Mandatorily redeemable convertible preferred shares4,441 4,441 4,441 
Denominator for diluted earnings per common share255,571 271,501 290,490 
Earnings per common share:
Basic$3.13 $6.29 $2.68 
Diluted$3.06 $6.13 $2.65 
(1)Represents dividends declared during the period on participating securities plus an allocation of undistributed earnings to participating securities. Net losses are not allocated to participating securities. Participating securities represent restricted stock and RSUs for which requisite service has not yet been rendered and amounted to weighted average shares of 991,400, 1,586,500 and 1,801,700 for the years ended November 30, 2022, 2021 and 2020, respectively. Dividends declared on participating securities were $1.1 million, $1.4 million and $1.0 million during the years ended November 30, 2022, 2021 and 2020, respectively. Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed.
Our Board of Directors from time to time has authorized the repurchase of our common shares. In January 2022, the Board of Directors increased the share repurchase authorization by $87.5 million. In March 2022, the Board of Directors increased the share repurchase authorization by $250.0 million. In June 2022, the Board of Directors increased the share repurchase authorization by $250.0 million. In September 2022, the Board of Directors increased the share repurchase authorization by $145.9 million back to a total authorized repurchase amount of $250.0 million.