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 losses of the Jefferies Bache business was $0.6 million and $1.9 million for the three and six months ended May 31, 2016, respectively.

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



	Three Months Ended May 31, 2016			Six Months Ended May 31, 2016
Severance costs	$	(103	)	$	279
Accelerated amortization of restricted stock and restricted cash awards	10			41
Contract termination costs	678			1,234
Other expenses	20			300
Total	$	605		$	1,854

Of the above costs, $30,000 and $341,000 were of a non-cash nature for the three and six months ended May 31, 2016, respectively.

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



	Three Months Ended May 31, 2016			Six Months Ended May 31, 2016
Compensation and benefits	$	(93	)	$	320
Technology and communications	678			1,234
Other expenses	20			300
Total	$	605		$	1,854