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Investments (Tables)
 12 Months Ended
Nov. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Summary of Selected Financial Information Equity method investments, including any loans to the investees, are reported within Investments in and loans to related parties in our Consolidated Statements of Financial Condition are summarized as follows (in millions).
November 30,
20222021
Total Investments in and loans to related parties$1,426.8 $1,587.4 
Year Ended November 30,
202220212020
Total equity method pickup income recognized in Other revenues in our Consolidated Statements of Earnings $(36.3)$149.9 $(75.2)
The following summarizes the activity included in our Consolidated Statements of Earnings related to the facility (in millions):
Year Ended November 30,
202220212020
Interest income$0.4 $1.5 $2.4 
Unfunded commitment fees1.2 1.2 1.1 
The following is a summary of selected financial information for Jefferies Finance (in millions):
November 30,
20222021
Total assets
$6,763.0 $8,258.7 
Total liabilities
5,490.1 6,843.9 
November 30,
20222021
Our total equity balance
$636.4 $707.4 
Year Ended November 30,
202220212020
Net earnings (loss)$(129.4)$205.7 $(74.9)
The following summarizes activity related to our other transactions with Jefferies Finance (in millions):
Year Ended November 30,
202220212020
Origination and syndication fee revenues (1)$194.7 $410.5 $198.1 
Origination fee expenses (1)39.7 66.8 27.3 
CLO placement fee revenues (2)4.6 5.7 1.7 
Underwriting fees (3)— 2.5 1.7 
Service fees (4)94.7 85.1 65.1 
(1)We engage in the origination and syndication of loans underwritten by Jefferies Finance. In connection with such services, we earned fees, which are recognized in Investment banking revenues in our Consolidated Statements of Earnings. In addition, we paid fees to Jefferies Finance in respect of certain loans originated by Jefferies Finance, which are recognized as Business development expenses in our Consolidated Statements of Earnings.
(2)We act as a placement agent for CLOs managed by Jefferies Finance, for which we recognized fees, which are included in Investment banking revenues in our Consolidated Statements of Earnings. At November 30, 2022 and 2021, we held securities issued by CLOs managed by Jefferies Finance, which are included in Financial instruments owned, at fair value in our Consolidated Statements of Condition.
(3)We acted as underwriter in connection with term loans issued by Jefferies Finance.
(4)Under a service agreement, we charge Jefferies Finance for services provided.
The following is a summary of selected financial information for Berkadia (in millions):
November 30,
20222021
Total assets$4,436.0 $4,630.7 
Total liabilities2,801.7 3,377.0 
Total noncontrolling interest690.1 425.8 
November 30,
20222021
Our total equity balance
$425.9 $373.4 
Year Ended November 30,
202220212020
Gross revenues$1,361.2 $1,262.4 $1,000.4 
Net earnings276.5 290.3 153.1 
Our share of net earnings124.4 130.6 68.9 
We received distributions from Berkadia on our equity interest as follows (in millions):
Year Ended November 30,
202220212020
Distributions$69.8 $58.0 $37.1 
The following is a summary of selected financial information for OpNet (in millions):
November 30,
20222021
Total assets$1,050.8 $782.0 
Total liabilities935.2 734.0 
November 30,
20222021
Our total equity balance
$— $— 
Year Ended November 30,
202220212020
Net loss$(88.6)$(90.5)$(78.8)
The following is a summary of selected financial information for FXCM (in millions):
November 30,
20222021
Total assets$389.6 $387.9 
Total liabilities341.4 382.2 
November 30,
20222021
Our total equity balance
$59.7 $49.0 
Year Ended November 30,
202220212020
Net earnings (loss)$39.0 $(21.5)$6.5 
The following is a summary of selected financial information for Golden Queen (in millions):
November 30,
20222021
Total assets$209.8 $224.5 
Total liabilities102.1 101.6 
November 30,
20222021
Our total equity balance
$46.5 $55.1 
Year Ended November 30,
202220212020
Net loss$(15.2)$(14.7)$(9.6)
The following is a summary of selected financial information for our significant Real Estate Investments (in millions):
November 30,
20222021
Total assets$350.4 $434.5 
Total liabilities487.5 506.1 
November 30,
20222021
Our total equity balance
$107.3 $115.2 
Year Ended November 30,
202220212020
Net earnings (loss)$17.7 $(27.0)$(12.3)
The following summarizes the results from these investments which are included in Principal transactions revenues in our Consolidated Statements of Earnings (in millions):
Year Ended November 30,
202220212020
Net gains (losses) from our investments in JCP Fund V$0.1 $7.7 $(3.0)
The following is a summary of selected financial information for 100.0% of JCP Fund V, in which we owned effectively 35.2% of the combined equity interests (in millions):
September 30,
2022 (1)2021 (1)
Total assets
$68 $72 
Total liabilities
— — 
Total partners’ capital
68 72 
Nine Months Ended September 30, 2022 (1)Three Months Ended December 31, 2021 (1)Nine Months Ended September 30, 2021 (1)Three Months Ended December 31, 2020 (1)Nine Months Ended September 30, 2020 (1)Three Months Ended December 31, 2019 (1)
Net increase (decrease) in net assets resulting from operations
$(1.3)$(3.2)$23.8 $(1.0)$(12.5)$(1.4)
(1)Financial information for JCP Fund V in financial position and results of operations at November 30, 2022 and 2021 and for the years ended November 30, 2022, 2021 and 2020 is included based on the presented periods.
The following table presents the activity included in our Consolidated Statements of Earnings related to these separately managed accounts (in millions):
Year Ended November 30,
202220212020
Investment losses (1)$(3.2)$(0.8)$— 
Management fees (2)0.7 — — 
(1)Included in Principal transactions revenues in our Consolidated Statements of Earnings.
(2)Included in Floor brokerage and clearing fees in our Consolidated Statements of Earnings.