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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Aug. 31, 2018
Aug. 31, 2017
Aug. 31, 2018
Aug. 31, 2017
Statement of Comprehensive Income [Abstract]        
Net earnings $ 60,178 $ 83,825 $ 97,367 $ 267,635
Other comprehensive income (loss), net of tax:        
Currency translation and other adjustments [1] (26,050) 3,830 (71,219) 27,182
Changes in instrument specific credit risk [2] 1,067 3,508 8,971 (8,870)
Cash flow hedges 85 (1,585) 1,382 [3] (1,585) [3]
Total other comprehensive income (loss), net of tax [4] (24,898) 5,753 (60,866) 16,727
Comprehensive income 35,280 89,578 36,501 284,362
Net earnings (loss) attributable to noncontrolling interests (4) 10 (1) 50
Comprehensive income attributable to Jefferies Group LLC $ 35,284 $ 89,568 $ 36,502 $ 284,312
[1] The amounts during the nine months ended August 31, 2018 include $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 and a gain of $20.5 million related to foreign currency gains, which was reclassified to Other income within the Consolidated Statements of Earnings. The amounts during the three and nine months ended August 31, 2018 include $2.8 million related to the impact of certain discrete items related to our non-U.S. subsidiaries planning for the Tax Act.
[2] The amounts include income tax expense of approximately $0.3 million and $11.0 million for the three and nine months ended August 31, 2018, respectively, and income tax expense of approximately $2.1 million and income tax benefit of approximately $5.3 million for the three and nine months ended August 31, 2017, respectively. The amounts during the three and nine months ended August 31, 2018 also include a gain of $0.1 million and $0.4 million, net of taxes of $0.1 million, respectively, related to changes in instrument specific credit risk, which was reclassified to Principal transaction revenues within the Consolidated Statements of Earnings. The amount during the nine months ended August 31, 2018 includes ($6.5) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[3] The amount during the nine months ended August 31, 2018 includes ($0.2) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[4] None of the components of other comprehensive income (loss) are attributable to noncontrolling interests.