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Investments (Tables)
 12 Months Ended
Nov. 30, 2017
Jefferies Finance  
Schedule of Equity Method Investments [Line Items]  
Summary of Selected Financial Information
The following summarizes the activity included in our Consolidated Statements of Earnings related to the facility (in millions):
 
Year Ended November 30,
 
2017
 
2016
 
2015
Interest income
$
2.9

 
$
0.1

 
$
0.9

Unfunded commitment fees
1.0

 
1.2

 
1.6

Separate financial statements for Jefferies Finance are included in this Annual Report on Form 10-K. The following is a summary of selected financial information for Jefferies Finance (in millions):
 
November 30,
 
2017
 
2016
Total assets
$
8,164.9

 
$
7,293.3

Total liabilities
6,892.6

 
6,352.3

Total equity
1,272.3

 
941.1

Our total equity balance
636.2

 
470.5


 
Year Ended November 30,
 
2017
 
2016
 
2015
Net earnings (loss)
$
181.7

 
$
(19.6
)
 
$
83.4

The following summarizes activity related to our other transactions with Jefferies Finance (in millions):
 
Year Ended November 30,
 
2017
 
2016
 
2015
Origination and syndication fee revenues (1)
$
327.9

 
$
112.6

 
$
122.7

Origination fee expenses (1)
2.4

 
0.5

 
5.9

CLO placement fee revenues (2)
6.1

 
2.6

 
6.2

Derivative gains (losses) (3)
(1.1
)
 
0.5

 
—

Underwriting fees (4)
—

 
—

 
1.3

Service fees (5)
50.7

 
46.1

 
51.7

(1)
We engage in debt capital markets transactions with Jefferies Finance related to the originations and syndications of loans 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, 2017 and 2016, we held securities issued by CLOs managed by Jefferies Finance, which are included in Financial instruments owned. At November 30, 2016, we provided a guarantee whereby we were required to make certain payments to a CLO in the event that Jefferies Finance was unable to meet its obligations to the CLO, which was terminated in October 2017.
(3)
We have entered into participation agreements and derivative contracts with Jefferies Finance based upon certain securities issued by the CLO and we have recognized gains (losses) relating to the derivative contracts.
(4)
We acted as underwriter in connection with senior notes issued by Jefferies Finance.
(5)
Under a service agreement, we charge Jefferies Finance for services provided.
Jefferies LoanCore  
Schedule of Equity Method Investments [Line Items]  
Summary of Selected Financial Information
The following is a summary of selected financial information for Jefferies LoanCore (in millions):
 
November 30, 2016
Total assets
$
1,827.2

Total liabilities
1,505.0

Total equity
322.2

Our total equity balance
156.3


 
Eleven Months Ended October 31, 2017
 
Year Ended November 30,
 
 
2016
 
2015
Net earnings
$
37.5

 
$
71.8

 
$
79.0

The following summarizes activity related to our transactions with Jefferies LoanCore (in thousands):
 
Year Ended November 30,
 
2017
 
2016
 
2015
Interest income and fees (1)
$
588

 
$
8,412

 
$
10,690

Placement fees (2)
100

 
100

 
1,643

Service fees (3)
190

 
200

 
241

(1)
We enter into master repurchase agreements with Jefferies LoanCore and earn interest income and fees related to these agreements. At November 30, 2016, we had reverse repurchase agreements outstanding of $68.1 million in connection with these agreements.
(2)
In connection with the securitization of commercial real estate loans originated by Jefferies LoanCore, we earned placement fees.
(3)
Under a service agreement, we charged Jefferies LoanCore for services provided.
JCP Fund V  
Schedule of Equity Method Investments [Line Items]  
Summary of Selected Financial Information
The following is a summary of selected financial information for 100.0% of JCP Fund V, in which we own effectively 35.2% of the combined equity interests (in thousands):
 
September 30,
 
2017 (1)
 
2016 (1)
Total assets
$
55,788

 
$
82,689

Total liabilities
96

 
73

Total partners’ capital
55,692

 
82,616

 
Nine Months Ended September 30, 2017 (1)
 
Three Months Ended December 31, 2016 (1)
 
Nine Months Ended September 30, 2016 (1)
 
Three Months Ended December 31, 2015 (1)
 
Nine Months Ended September 30, 2015 (1)
 
Three Months Ended December 31, 2014 (1)
Net increase (decrease) in net assets resulting from operations
$
(24,630
)
 
$
(2,294
)
 
$
6,159

 
$
(7,886
)
 
$
(1,751
)
 
$
(65,700
)
(1)
Financial information for JCP Fund V within our financial position and results of operations at November 30, 2017 and 2016 and for the years ended November 30, 2017, 2016 and 2015 is included based on the presented periods.
The following summarizes the results from these investments which are included in Asset management fees and investment income from managed funds in our Consolidated Statements of Earnings (in millions):
 
Year Ended November 30,
 
2017
 
2016
 
2015
Net losses from our investments in JCP Fund V
$
(10.7
)
 
$
(1.1
)
 
$
(24.3
)
Epic Gas  
Schedule of Equity Method Investments [Line Items]  
Summary of Selected Financial Information
The following is a summary of selected financial information for Epic Gas (in millions) reflecting available public financial information for Epic Gas:
 
September 30,
 
2017
 
2016
Total assets
$
599.2

 
$
579.0

Total liabilities
340.2

 
315.0

Total equity
259.0

 
264.0


 
Nine Months Ended September 30, 2017 (1)
 
Three Months Ended December 31, 2016 (1)
 
Nine Months Ended September 30, 2016 (1)
 
Three Months Ended December 31, 2015 (1)
 
Nine Months Ended September 30, 2015 (1)
 
Three Months Ended December 31, 2014 (1)
Net losses
$
(14.5
)
 
$
(15.9
)
 
$
(7.4
)
 
$
(11.4
)
 
$
(4.6
)
 
$
(16.1
)
(1)
Financial information for Epic Gas within our financial position and results of operations at November 30, 2017 and 2016 and for the years ended November 30, 2017, 2016 and 2015 is included based on the presented periods.
KCG  
Schedule of Equity Method Investments [Line Items]  
Summary of Selected Financial Information
The following summarizes the changes in the fair value of our investment in KCG, which were recognized in Principal transactions revenues in our Consolidated Statements of Earnings (in millions):
 
Year Ended November 30,
 
2017
 
2016
 
2015
Net gains from our investment in KCG
$
93.4

 
$
19.6

 
$
49.1

The following is a summary of selected financial information for KCG at December 31, 2016, reflecting available public information (in millions):
Total assets
 
$
6,261.3

Total liabilities
 
4,904.0

Total equity
 
1,357.3

The following is a summary of net earnings for KCG (in millions), reflecting available public financial information for KCG:
 
Year Ended November 30,
 
2016
 
2015
Net earnings for KCG
$
255.7

 
$
249.1

The following is a summary of the balances related to these activities (in millions):
 
November 30, 2016
Securities borrowed
$
9.2

Securities loaned
9.2