CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	May 31, 2019	May 31, 2018
Cash flows from operating activities:
Net earnings	$ 156,184	$ 37,189
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization	12,145	5,743
Income on loans to and investments in related parties	(54,321)	(24,834)
Distributions received on investments in related parties	94,041	1,910
Other adjustments	79,143	(94,524)
Net change in assets and liabilities:
Securities deposited with clearing and depository organizations	(3)	64,880
Receivables:
Brokers, dealers and clearing organizations	(680,585)	10,499
Customers	228,919	(413,508)
Fees, interest and other	(107,883)	9,390
Securities borrowed	(1,192,513)	97,924
Financial instruments owned	279,277	(1,594,717)
Securities purchased under agreements to resell	(1,253,866)	(176,922)
Other assets	(128,689)	76,192
Payables:
Brokers, dealers and clearing organizations	25,116	520,766
Customers	(38,618)	489,060
Securities loaned	500,307	(266,028)
Financial instruments sold, not yet purchased	654,851	812,496
Securities sold under agreements to repurchase	233,115	139,287
Accrued expenses and other liabilities	(302,050)	(422,224)
Net cash used in operating activities	(1,495,430)	(727,421)
Cash flows from investing activities:
Contributions to loans to and investments in related parties	(18,648)	(1,906,071)
Distributions from loans to and investments in related parties	24,629	1,873,000
Net payments on premises and equipment	(48,655)	(36,061)
Net cash used in investing activities	(42,674)	(69,132)
Cash flows from financing activities:
Proceeds from short-term borrowings	950,000	372,481
Payments on short-term borrowings	(812,000)	(297,708)
Proceeds from issuance of long-term debt, net of issuance costs	144,250	1,321,714
Repayment of long-term debt	(58,506)	(1,022,615)
Dividend distribution	(153,687)	(200,000)
Net proceeds from other secured financings	384,953	246,714
Net change in bank overdrafts	(14,352)	(2,722)
Proceeds from contributions of noncontrolling interests	6,600	10
Payments on distributions to noncontrolling interests	(2,481)	0
Net cash provided by financing activities	444,777	417,874
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(3,892)	(9,370)
Net decrease in cash, cash equivalents and restricted cash	(1,097,219)	(388,049)
Cash, cash equivalents and restricted cash at beginning of period	5,819,027	5,642,776
Cash, cash equivalents and restricted cash at end of period	4,721,808	5,254,727
Cash paid during the period for
Interest	764,693	608,178
Income taxes, net	$ 40,151	$ 115,748