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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Nov. 30, 2018
Statement of Comprehensive Income [Abstract]      
Net earnings $ 874,706 $ 244,385 $ 159,017
Other comprehensive loss, net of tax:      
Currency translation adjustments [1] 37,535 6,426 (85,554)
Changes in instrument specific credit risk [2] (52,262) (13,161) 22,160
Cash flow hedges [3] 0    
Cash flow hedges [3]   (470) 1,406
Minimum pension liability adjustments [4] (2,025) (1,318) 4,285
Unrealized gain on available-for-sale securities [5] 372 487 311
Total other comprehensive loss, net of tax [6] (16,380) (8,036) (57,392)
Comprehensive income 858,326 236,349 101,625
Net earnings (loss) attributable to noncontrolling interests (4,597) (1,644) 256
Comprehensive income attributable to Jefferies Group LLC $ 862,923 $ 237,993 $ 101,369
[1] The amounts include income tax benefits (expenses) of approximately $(11.9) million, $(3.2) million and $8.9 million during the years ended November 30, 2020, 2019 and 2018, respectively. The amount during the year ended November 30, 2018 also includes a gain of $20.5 million related to foreign currency gains, which was reclassified to Other revenues within the Consolidated Statements of Earnings.
[2] The amounts include income tax benefits (expenses) of approximately $16.4 million, $4.5 million, and $(15.5) million for the years ended November 30, 2020, 2019 and 2018, respectively. The amounts for the years ended November 30, 2020, 2019 and 2018 includes a net gain (loss) of $(0.4) million, $0.4 million and $0.9 million, respectively, net of tax benefits (expenses) of $0.1 million, $(0.2) million and $(0.3) million, respectively, related to changes in instrument specific risk, which were reclassified to Principal transactions revenues within the Consolidated Statements of Earnings. The amount during the year ended November 30, 2018 also includes $(6.5) million related to the Tax Cuts and Jobs Act (the “Tax Act”), which was reclassified to Member’s paid-in capital.
[3] The amounts include income tax benefits (expenses) of approximately $0.2 million, and $(0.8) million for the years ended November 30, 2019 and 2018, respectively. The cash flow hedge loss of $0.5 million during the year ended November 30, 2019 was reclassified to Other revenues within the Consolidated Statement of Earnings. The amount during the year ended November 30, 2018 also includes $(0.2) million related to the Tax Act, which was reclassified to Member’s paid-in capital.
[4] The amounts include income tax benefits (expenses) of $0.7 million, $0.5 million and $(0.7) million for the years ended November 30, 2020, 2019 and 2018, respectively. The amount during the year ended November 30, 2020 includes pension net gains of $0.5 million, net of tax of $0.2 million, which were reclassified to Compensation and benefits expenses within the Consolidated Statements of Earnings. The amounts during the years ended November 30, 2019 and 2018 includes pension net gains (losses) of $0.1 million and $(0.3) million, respectively, net of negligible tax benefits (expenses), which were reclassified to Compensation and benefits expenses within the Consolidated Statements of Earnings. The amount during the year ended November 30, 2018 also includes $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 Act, which was reclassified to Member’s paid-in capital.
[5] The amounts for the years ended November 30, 2020, 2019 and 2018 include income tax expenses of approximately $0.1 million and $0.2 million and $0.1 million, respectively.
[6] None of the components of other comprehensive income (loss) are attributable to noncontrolling interests.