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CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2019
May 31, 2018
May 31, 2019
May 31, 2018
Revenues:        
Commissions and other fees $ 159,773 $ 158,104 $ 307,099 $ 306,006
Principal transactions 248,831 137,802 483,129 355,275
Investment banking 430,087 500,297 715,683 940,288
Asset management fees 4,550 6,016 11,219 10,946
Interest 418,451 307,327 779,426 565,143
Other 52,801 47,263 72,809 65,746
Total revenues 1,314,493 1,156,809 2,369,365 2,243,404
Interest expense 412,642 334,252 781,796 599,601
Net revenues 901,851 822,557 1,587,569 1,643,803
Non-interest expenses:        
Compensation and benefits 477,885 444,094 849,570 899,727
Non-compensation expenses:        
Floor brokerage and clearing fees 62,474 46,244 114,451 90,063
Technology and communications 81,645 76,381 160,815 145,458
Occupancy and equipment rental 29,748 24,993 58,287 49,584
Business development 36,349 42,393 66,904 84,500
Professional services 38,066 35,991 74,993 66,399
Underwriting costs 12,823 13,029 21,398 27,304
Other 7,723 17,567 23,428 36,165
Total non-compensation expenses 268,828 256,598 520,276 499,473
Total non-interest expenses 746,713 700,692 1,369,846 1,399,200
Earnings before income taxes 155,138 121,865 217,723 244,603
Income tax expense 45,319 23,857 61,539 207,414
Net earnings 109,819 98,008 156,184 37,189
Net earnings (loss) attributable to noncontrolling interests (101) 4 283 3
Net earnings attributable to Jefferies Group LLC $ 109,920 $ 98,004 $ 155,901 $ 37,186