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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
May 31, 2018
May 31, 2017
May 31, 2018
May 31, 2017
Nov. 30, 2017
Cash flows from operating activities:          
Net earnings $ 98,008 $ 69,790 $ 37,189 $ 183,810  
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:          
Depreciation and amortization     5,743 752  
Income on loans to and investments in related parties     (24,834) (54,495)  
Distributions received on investments in related parties     1,910 6,189  
Other adjustments     (94,524) 40,160  
Net change in assets and liabilities:          
Securities deposited with clearing and depository organizations     64,880 108  
Receivables:          
Brokers, dealers and clearing organizations     10,499 (832,729)  
Customers     (413,508) (372,368)  
Fees, interest and other     9,390 (87,192)  
Securities borrowed     97,924 (143,554)  
Financial instruments owned     (1,594,717) (8,909)  
Securities purchased under agreements to resell     (176,922) (452,154)  
Other assets     76,192 (109,591)  
Payables:          
Brokers, dealers and clearing organizations     520,766 (969,230)  
Customers     489,060 300,774  
Securities loaned     (266,028) 616,701  
Financial instruments sold, not yet purchased     812,496 598,801  
Securities sold under agreements to repurchase     139,287 1,818,042  
Accrued expenses and other liabilities     (422,224) 116,605  
Net cash provided by (used in) operating activities     (727,421) 651,720  
Cash flows from investing activities:          
Contributions to loans to and investments in related parties     (1,906,071) (2,642,607)  
Distributions from loans to and investments in related parties     1,873,000 2,579,746  
Net payments on premises and equipment     (36,061) (39,918)  
Cash received from contingent consideration     0 1,250  
Net cash used in investing activities     (69,132) (101,529)  
Cash flows from financing activities:          
Proceeds from short-term borrowings     372,481 133,928  
Payments on short-term borrowings     (297,708) (219,086)  
Proceeds from issuance of long-term debt, net of issuance costs     1,321,714 866,600  
Repayment of long-term debt     (1,022,615) (75,730)  
Dividend distribution     (200,000) 0  
Net proceeds from (payments on) other secured financings     246,714 (369,626)  
Net change in bank overdrafts     (2,722) (1,544)  
Proceeds from noncontrolling interests     10 0  
Net cash provided by financing activities     417,874 334,542  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (9,370) 4,773  
Net increase (decrease) in cash, cash equivalents and restricted cash     (388,049) 889,506  
Cash, cash equivalents and restricted cash at beginning of period     5,642,776 4,286,513 $ 4,286,513
Cash, cash equivalents and restricted cash at end of period $ 5,254,727 $ 5,176,019 5,254,727 5,176,019 $ 5,642,776
Cash paid during the period for          
Interest     608,178 488,705  
Income taxes, net     $ 115,748 $ 3,576