Exit Costs

Jefferies Bache. On April 9, 2015, we entered into an agreement with Société Générale S.A. (the “Agreement”) to transfer certain client exchange and OTC transactions associated with our Jefferies Bache business for the net book value of the OTC transactions, calculated in accordance with certain principles set forth in the agreement, plus the repayment of certain margin loans in respect of certain exchange transactions. In addition, we initiated a plan to substantially exit the remaining aspects of the business, which was completed during the second quarter of 2016. The pre-tax loss of the Jefferies Bache business was $1.2 million for the three months ended February 29, 2016.

The following summarizes our recorded restructuring and impairment costs (in thousands):



	Three Months Ended February 29, 2016
Severance costs	$	382
Accelerated amortization of restricted stock and restricted cash awards	31
Contract termination costs	556
Other expenses	280
Total	$	1,249

Of the above costs, $310,000 were of a non-cash nature for the three months ended February 29, 2016.

Restructuring and exit costs are wholly attributed to our Capital Markets segment and were recorded in the following categories on the Consolidated Statement of Earnings (in thousands):



	Three Months Ended February 29, 2016
Compensation and benefits	$	413
Technology and communications	556
Other expenses	280
Total	$	1,249