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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Feb. 28, 2018
Feb. 28, 2017
Statement of Comprehensive Income [Abstract]    
Net earnings (loss) $ (60,819) $ 114,020
Other comprehensive income (loss), net of tax:    
Currency translation and other adjustments [1] 16,019 (2,530)
Changes in instrument specific credit risk [2] (18,113) (9,695)
Cash flow hedges [3] 1,046 0
Total other comprehensive income (loss), net of tax [4] (1,048) (12,225)
Comprehensive income (loss) (61,867) 101,795
Net earnings (loss) attributable to noncontrolling interests (1) 1
Comprehensive income (loss) attributable to Jefferies Group LLC $ (61,866) $ 101,794
[1] The amount during the three months ended February 28, 2018 includes $5.3 million related to the transfer of the German Pension Plan, which was reclassified to Compensation and benefits expenses within the Consolidated Statements of Earnings, and ($0.8) million related to the Tax Cuts and Jobs Act (the “Tax Act”), which was reclassified to Member’s paid-in capital. Refer to Note 3, Accounting Developments for further information.
[2] The amount reflects income tax expense of approximately $1.9 million for the three months ended February 28, 2018 and income tax benefit of approximately $6.3 million for the three months ended February 28, 2017. The amount during the three months ended February 28, 2018 also includes ($6.5) million related to the Tax Act, which was reclassified to Member’s paid-in capital. Refer to Note 3, Accounting Developments for further information.
[3] The amount during the three months ended February 28, 2018 includes $0.2 million related to the Tax Act, which was reclassified to Member’s paid-in capital. Refer to Note 3, Accounting Developments for further information.
[4] None of the components of other comprehensive income (loss) are attributable to noncontrolling interests.