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CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2020
May 31, 2019
May 31, 2020
May 31, 2019
Revenues:        
Revenue from contracts with customers $ 632,995 $ 602,335 $ 1,408,936 $ 1,049,742
Principal transactions 467,283 248,831 839,185 483,129
Asset management and revenues 4,576 5,099 16,296 12,130
Interest 211,941 418,451 506,609 779,426
Other (47,275) 44,327 (17,546) 56,157
Total revenues 1,267,283 1,314,493 2,746,839 2,369,365
Interest expense 232,916 412,642 541,776 781,796
Net revenues 1,034,367 901,851 2,205,063 1,587,569
Non-interest expenses:        
Compensation and benefits 571,547 477,885 1,206,777 849,570
Non-compensation expenses:        
Floor brokerage and clearing fees 77,619 62,474 138,199 114,451
Technology and communications 95,594 81,645 184,778 160,815
Occupancy and equipment rental 24,395 29,748 51,898 58,287
Business development 8,359 36,349 38,316 66,904
Professional services 41,994 38,066 86,659 74,993
Underwriting costs 12,485 12,823 30,014 21,398
Other 29,506 7,723 60,176 23,428
Total non-compensation expenses 289,952 268,828 590,040 520,276
Total non-interest expenses 861,499 746,713 1,796,817 1,369,846
Earnings before income taxes 172,868 155,138 408,246 217,723
Income tax expense 43,972 45,319 107,985 61,539
Net earnings 128,896 109,819 300,261 156,184
Net earnings (loss) attributable to noncontrolling interests (1,842) (101) (3,866) 283
Net earnings attributable to Jefferies Group LLC 130,738 109,920 304,127 155,901
Commissions and other fees        
Revenues:        
Revenue from contracts with customers 243,267 167,698 422,802 322,840
Investment banking        
Revenues:        
Revenue from contracts with customers $ 387,491 $ 430,087 $ 979,493 $ 715,683