XML 23 R10.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
May 31, 2024
May 31, 2023
Cash flows from operating activities:    
Net earnings $ 311,079 $ 138,008
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 93,722 59,451
Share-based compensation 34,572 24,218
Net bad debt expense 46,593 28,592
Loss (income) on investments and loans to related parties (37,202) 151,788
Distributions received on investments in related parties 874 1,297
Gain on sale of subsidiary and investment in related parties (56,174) 0
Other adjustments 147,851 61,546
Net change in assets and liabilities:    
Securities deposited with clearing and depository organizations 0 (155,508)
Receivables:    
Brokers, dealers and clearing organizations (722,293) 127,320
Customers (594,067) 40,917
Fees, interest and other (114,271) 14,711
Securities borrowed 48,414 (1,323,220)
Financial instruments owned (937,418) (2,328,090)
Securities purchased under agreements to resell (799,421) (888,808)
Other assets (539,351) (788,424)
Payables:    
Brokers, dealers and clearing organizations 601,124 924,482
Customers (119,505) 419,316
Securities loaned 405,066 (146,260)
Financial instruments sold, not yet purchased 680,922 673,369
Securities sold under agreements to repurchase 122,236 2,054,131
Lease liabilities (38,778) (17,692)
Accrued expenses and other liabilities 285,980 (472,814)
Net cash used in operating activities from continuing operations (1,180,047) (1,401,670)
Net cash used in operating activities from discontinued operations (90,174) 0
Cash flows from investing activities:    
Contributions to investments in and loans to related parties (62,543) (55,536)
Capital distributions from investments and repayments of loans from related parties 7,941 17,788
Originations and purchases of automobile loans, notes and other receivables (89,540) (206,062)
Principal collections of automobile loans, notes and other receivables 83,268 176,727
Net payments on premises and equipment (144,857) (50,214)
Proceeds from sales of subsidiary and investment in related parties, net of cash of operations sold 95,276 0
Net cash used in investing activities from continuing operations (110,455) (117,297)
Cash flows from financing activities:    
Proceeds from short-term borrowings 2,113,633 2,500,000
Payments on short-term borrowings (1,495,796) (2,183,800)
Proceeds from issuance of long-term debt, net of issuance costs 3,527,009 294,863
Repayment of long-term debt (726,019) (287,240)
Purchase of common shares for treasury (43,979) (164,992)
Dividends paid to common and preferred shareholders (139,823) (138,698)
Net proceeds from (payments on) other secured financings 240,898 (252,402)
Net change in bank overdrafts 17,754 2,308
Proceeds from contributions of noncontrolling interests 9,321 0
Payments on distributions to noncontrolling interests (10,689) 0
Other 6,984 5,451
Net cash provided by (used in) financing activities from continuing operations 3,499,293 (224,510)
Net cash provided by financing activities from discontinued operations 4,384 0
Supplemental Cash Flow Elements [Abstract]    
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,513) 2,657
Net increase (decrease) in cash, cash equivalents and restricted cash 2,121,488 (1,740,820)
Net decrease in cash, cash equivalents and restricted cash classified within assets held for sale (13,224) 0
Cash, cash equivalents and restricted cash at beginning of period 9,830,758 10,707,244
Cash, cash equivalents and restricted cash at end of period 11,939,022 8,966,424
Cash paid during the period for    
Interest 1,579,458 841,572
Income taxes, net 88,988 123,310
Non cash investing activity, relating to acquisition 600 30,600
Conversion of preferred shares to common shares   125,000
Shareholders    
Cash paid during the period for    
Dividend distributions $ 527,000  
Noncontrolling Interest Holders    
Cash paid during the period for    
Dividend distributions   $ 31,400