CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Cash flows from operating activities:
Net earnings	$ 171,365	$ 46,365
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization	14,557	5,367
Income on loans to and investments in related parties	(26,922)	(11,337)
Distributions received on investments in related parties	35,949	94,041
Other adjustments	63,801	28,745
Net change in assets and liabilities:
Securities deposited with clearing and depository organizations	(296,514)	12
Receivables:
Brokers, dealers and clearing organizations	(1,368,785)	(1,285,635)
Customers	(48,064)	420,048
Fees, interest and other	(18,295)	(18,352)
Securities borrowed	910,494	(674,484)
Financial instruments owned	(1,555,782)	(395,921)
Securities purchased under agreements to resell	(614,635)	(660,842)
Other assets	(246,208)	(178,830)
Payables:
Brokers, dealers and clearing organizations	1,635,066	301,741
Customers	(51,154)	212,895
Securities loaned	371,286	378,261
Financial instruments sold, not yet purchased	(638,098)	704,478
Securities sold under agreements to repurchase	909,654	632,686
Accrued expenses and other liabilities	(140,411)	(650,084)
Net cash used in operating activities	(892,696)	(1,050,846)
Cash flows from investing activities:
Contributions to loans to and investments in related parties	(855,609)	(10,370)
Distributions from loans to and investments in related parties	850,739	0
Net payments on premises and equipment	(32,071)	(19,606)
Net cash used in investing activities	(36,941)	(29,976)
Cash flows from financing activities:
Proceeds from short-term borrowings	472,000	405,000
Payments on short-term borrowings	(362,000)	(254,000)
Proceeds from issuance of long-term debt, net of issuance costs	170,770	92,375
Repayment of long-term debt	(35,629)	(50,695)
Distributions to Jefferies Financial Group Inc.	(12,580)	(130,697)
Net proceeds from (payments on) other secured financings	(300,867)	51,697
Net change in bank overdrafts	(34,518)	(8,360)
Proceeds from contributions of noncontrolling interests	17,100	4,600
Payments on distributions to noncontrolling interests	0	(981)
Net cash provided by (used in) financing activities	(85,724)	108,939
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,927)	13,194
Net decrease in cash, cash equivalents and restricted cash	(1,018,288)	(958,689)
Cash, cash equivalents and restricted cash at beginning of period	6,329,712	5,819,027
Cash, cash equivalents and restricted cash at end of period	5,311,424	4,860,338
Cash paid during the period for
Interest	357,925	391,674
Income taxes, net	$ 3,524	$ 37,168