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

•At November 30, 2021 and 2020, we had $23.1 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 18, Commitments, Contingencies and Guarantees, for further information regarding related party transactions with our officers, directors and employees.


	Year Ended November 30,
	2021		2020		2019
Charges to Jefferies for services provided	$	42.9	$	47.2	$	52.7
Charges from Jefferies for services received	38.4		32.2		9.5

•We 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):

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

•During the years ended November 30, 2021 and 2020, we paid distributions of $923.5 million and $498.7 million, respectively, to Jefferies. In addition, during the year ended November 30, 2021, we received a contribution of $153.6 million from Jefferies. At November 30, 2021 and 2020, we accrued distributions payable in the amount of $193.0 million and $153.6 million, respectively, which are included in Accrued expenses and other liabilities, in our Consolidated Statements of Financial Condition, based on our results for the three months ended November 30, 2021 and 2020.

•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 November 30, 2021, we had a net current tax receivable from Jefferies of $130.6 million included in Other assets, in our Consolidated Statements of Financial Condition. At November 30, 2020, we had a net current tax payable to Jefferies of $111.1 million included in Accrued expenses and other liabilities, in our Consolidated Statements of Financial Condition. During the years ended November 30, 2021 and 2020, we made payments to Jefferies of $595.0 million and $83.0 million, respectively.

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

•On November 3, 2020, Jefferies sold a wholly-owned subsidiary primarily invested in short-dated receivables that related to an asset management strategy to an investment fund managed by us for approximately $180.7 million.

•At November 30, 2021 and 2020, we have customer account payables to entities of Jefferies totaling $0.5 million and $2.2 million, respectively, included in Payables—customers, in our Consolidated Statements of Financial Condition.

•On November 27, 2019, we transferred our investment in CoreCommodity Capital, LLC, an asset manager, along with a related accrued receivable and deferred tax asset, to Jefferies, in return for a total cash payment of $31.0 million.

•In connection with foreign exchange contracts entered into under a prime brokerage agreement with an affiliate of Jefferies, we have $0.7 million and $2.7 million at November 30, 2021 and 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):

•Two of our directors had investments totaling $0.4 million at November 30, 2019 in a hedge fund managed by Jefferies. In December 2019, both directors fully redeemed their interests in this fund.

•We had investments in hedge funds managed by Jefferies of $239.0 million at November 30, 2020, included in Financial instruments owned, at fair value, in our Consolidated Statements 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 these hedge funds for the years ended November 30, 2020 and 2019, were $15.8 million and $4.7 million, respectively, which are included in Principal transactions revenues in our Consolidated Statements 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 November 30, 2021 and 2020, approximately $2.3 million and $2.6 million, respectively, of debt issued by Jefferies are included in Financial instruments owned, at fair value, in our Consolidated Statements of Financial Condition.

•For the year ended November 30, 2021, we recorded fees related to our asset management business of $1.0 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 a sublease agreement with an affiliate of Jefferies for office space. Payments received from this affiliate for rent and other expenses are as follows (in millions).

•In June 2020, Jefferies paid us $2.9 million for the transfer of one of its asset management divisions, which included a net related liability to us.