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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Cash flows from operating activities:    
Net earnings $ 75,219 $ 261,079
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 10,784 (9,409)
Income on loans to and investments in related parties (87,692) (73,640)
Distributions received on investments in related parties 70,825 43,440
Other adjustments (64,479) (41,678)
Net change in assets and liabilities:    
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations 2,538,334 316,049
Receivables:    
Brokers, dealers and clearing organizations 100,690 (298,153)
Customers (52,530) (612,457)
Fees, interest and other (41,759) (6,687)
Securities borrowed (852,183) (908,113)
Financial instruments owned (321,076) (1,955,672)
Investments in managed funds 14,508 9,957
Securities purchased under agreements to resell (351,875) (820,235)
Other assets (8,988) (26,031)
Payables:    
Brokers, dealers and clearing organizations 192,867 638,448
Customers (3,454,703) 730,493
Securities loaned 1,049,172 (40,086)
Financial instruments sold, not yet purchased 601,758 2,634,241
Securities sold under agreements to repurchase 176,960 (252,215)
Accrued expenses and other liabilities (204,520) 14,202
Net cash used in operating activities (608,688) (396,467)
Cash flows from investing activities:    
Contributions to loans to and investments in related parties (1,111,830) (1,196,634)
Distributions from loans to and investments in related parties 1,119,775 1,297,139
Net payments on premises and equipment (51,348) (83,968)
Deconsolidation of asset management entity (16,512) (137,856)
Cash received from contingent consideration 2,541 5,215
Net cash used in investing activities (57,374) (116,104)
Cash flows from financing activities:    
Excess tax benefits from the issuance of share-based awards 423 1,640
Proceeds from short-term borrowings 14,422,000 13,566,163
Payments on short-term borrowings (14,422,000) (13,486,163)
Proceeds from secured credit facility 903,000 1,740,000
Payments on secured credit facility (1,073,000) (1,682,000)
Net proceeds from other secured financings 200,810 381,955
Net proceeds from issuance of senior notes, net of issuance costs 0 681,222
Repayment of long-term debt 0 (250,000)
Proceeds from contributions of noncontrolling interests 0 31,076
Net cash provided by financing activities 31,233 983,893
Effect of exchange rate changes on cash and cash equivalents (3,354) 2,798
Net (decrease) increase in cash and cash equivalents (638,183) 474,120
Cash and cash equivalents at beginning of period 4,079,968 3,561,119
Cash and cash equivalents at end of period 3,441,785 4,035,239
Cash paid during the period for:    
Interest 621,279 752,429
Income taxes, net $ 1,574 $ 117,300