Officers, Directors and Employees. The following sets forth information regarding related party transactions with our officers, directors and employees:

•At February 28, 2021 and November 30, 2020, we had $27.7 million and $28.9 million, respectively, of loans outstanding to certain of our officers and employees (none of whom are executive officers or directors) that are included in Other assets in our Consolidated Statements of Financial Condition.

•Receivables from and payables to customers include balances arising from officers’, directors’ and employees’ individual security transactions. These transactions are subject to the same regulations as all customer transactions and are provided on substantially the same terms.

•One of our directors had an investment in a hedge fund managed by us of approximately $0.8 million at November 30, 2020. This investment was fully redeemed in February 2021.

See Note 8, Variable Interest Entities, and Note 16, Commitments, Contingencies and Guarantees, for further information regarding related party transactions with our officers, directors and employees.


	Three Months Ended
	February 28, 2021		February 29, 2020




Charges to Jefferies for services provided	$	15.6	$	10.4
Charges from Jefferies for services received	9.9		8.0

•We also provide investment banking and capital markets and asset management services to Jefferies and its affiliates. The following table presents the revenues earned by type of services provided (in millions):


	Three Months Ended
	February 28, 2021		February 29, 2020




Investment banking	$	13.6	$	—
Commissions and other fees	0.3		0.3

•Receivables from and payables to Jefferies, included in Other assets and Accrued expenses and other liabilities, respectively, in our Consolidated Statements of Financial Condition (in millions):

•During the three months ended February 28, 2021, we paid distributions of $153.6 million to Jefferies, based on our results for the three months ended November 30, 2020. In addition, during the three months ended February 28, 2021, we received a contribution of $153.6 million from Jefferies and paid an additional distribution of $153.6 million to Jefferies. At February 28, 2021, we have accrued a distribution payable of $247.0 million, based on our results for the three months ended February 28, 2021.

•Pursuant to a tax sharing agreement entered into between us and Jefferies, payments are made between us and Jefferies to settle current tax receivables and payables. At February 28, 2021 and November 30, 2020, we had net current tax payables to Jefferies of $244.2 million and $111.1 million, respectively, included in Accrued expenses and other liabilities, in our Consolidated Statements of Financial Condition. Subsequent to quarter-end, in March 2021, we made payments totaling $175.0 million to Jefferies, which reduced the cumulative net current tax payable.

•We purchase securities from and sell securities to Jefferies, at fair value (in millions). There were no gains or losses on these transactions.


	Three Months Ended
	February 28, 2021		February 29, 2020


Securities purchased from Jefferies	$	9.1	$	26.1
Securities sold to Jefferies	0.5		—

•At February 28, 2021 and November 30, 2020, we have customer account payables to entities of Jefferies totaling $1.1 million and $2.2 million, respectively, included in Payables—customers, in our Consolidated Statements of Financial Condition.

•In connection with foreign exchange contracts entered into under a prime brokerage agreement with an affiliate of Jefferies, we have $0.1 million and $2.7 million at February 28, 2021 and November 30, 2020, respectively, included in Payables— brokers, dealers and clearing organizations, in our Consolidated Statements of Financial Condition.

•We enter into OTC foreign exchange contracts with a subsidiary of Jefferies. In connection with these contracts, we had $0.1 million recorded in Financial instruments owned, at fair value, in our Consolidated Statements of Financial Condition at November 30, 2020. Net gains (losses) relating to these contracts, which are included in Principal transactions revenues in our Consolidated Statements of Earnings, are as follows (in millions):


	Three Months Ended
	February 28, 2021		February 29, 2020


Net gains (losses) on foreign exchange contracts	$	0.1	$	(0.6)

•We had investments in a hedge fund managed by Jefferies of $239.0 million at November 30, 2020, included in Financial instruments owned, at fair value, in our Consolidated Statement of Financial Condition. In January 2021, Jefferies transferred one of its asset management divisions, the investment manager of this fund, to us, in return for a payment of $2.2 million. Net gains on our investments in this hedge fund for the three months ended February 29, 2020, were $3.8 million, which were included in Principal transactions revenues in our Consolidated Statement of Earnings.

•In connection with our capital markets activities, from time to time we make a market in long-term debt securities of Jefferies (i.e., we buy and sell debt securities issued by Jefferies). At February 28, 2021 and November 30, 2020, approximately $0.2 million and $2.6 million, respectively, of debt issued by Jefferies is included in Financial instruments owned, at fair value, and at February 28, 2021, $0.1 million is included in Financial instruments sold, not yet purchased, at fair value, in our Consolidated Statements of Financial Condition.

•For the three months ended February 28, 2021, we recorded asset management expenses of $0.5 million, which are included in Floor brokerage and clearing fees in our Consolidated Statement of Earnings, relating to an investment in a separately managed account, which is managed by a strategic affiliate.

•We have entered into a sublease agreement with an affiliate of Jefferies for office space. For both the three months ended February 28, 2021 and February 29, 2020, we received payments from this affiliate for rent and other expenses of $0.2 million.