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Fair Value Disclosures - Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis (Detail) (USD $)
In Thousands, unless otherwise specified
Feb. 28, 2013
Nov. 30, 2012
Financial instruments owned:    
Corporate equity securities $ 1,688,607 $ 1,762,775
Corporate debt securities 3,371,464 3,038,146
Collateralized debt obligations 144,921 118,494
U.S. government and federal agency securities 909,640 1,835,927
Municipal securities 603,957 619,969
Sovereign obligations 3,496,858 2,697,854
Mortgage- and asset-backed securities, assets 4,939,327 5,468,284
Loans and other receivables 968,360 678,311
Derivatives 206,920 298,086
Investments at fair value 71,103 127,023
Physical commodities 157,299 144,016
Total financial instruments owned 16,413,535 16,670,391
Cash and cash equivalents 3,017,958 2,692,595
Investments in managed funds 59,976 57,763
Cash and securities segregated and on deposit for regulatory purposes 3,728,742 [1],[2] 4,082,595 [1],[3]
Securities received as collateral 25,338 0
Financial instruments sold, not yet purchased:    
Corporate equity securities 1,934,184 1,539,332
Corporate debt securities 1,845,617 1,389,312
U.S. government and federal agency securities 2,567,397 1,679,133
Sovereign obligations 2,477,844 1,986,979
Mortgage- and asset-backed securities, liabilities 101,580 241,211
Loans 452,007 207,227
Derivatives 220,697 229,127
Physical commodities 167,550 183,142
Total financial instruments sold, not yet purchased 9,766,876 7,455,463
Obligation to return securities received as collateral 25,338  
Residential mortgage-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 3,789,636 4,164,913
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 96,074 239,063
Commercial mortgage-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 933,614 1,090,535
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 1,811 2,148
Other asset-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 71,156 94,342
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 3,695  
Level 1 [Member]
   
Financial instruments owned:    
Corporate equity securities 1,443,328 [4] 1,608,715 [5]
U.S. government and federal agency securities 776,846 [4] 1,720,617 [5]
Sovereign obligations 2,041,200 [4] 1,722,044 [5]
Derivatives 445,895 [4] 615,024 [5]
Total financial instruments owned 4,707,269 [4] 5,666,400 [5]
Cash and cash equivalents 3,017,958 [4] 2,692,595 [5]
Cash and securities segregated and on deposit for regulatory purposes 3,728,742 [2],[4] 4,082,595 [3],[5]
Securities received as collateral 25,338 [4]  
Financial instruments sold, not yet purchased:    
Corporate equity securities 1,697,826 [4] 1,442,347 [5]
U.S. government and federal agency securities 2,567,397 [4] 1,428,746 [5]
Sovereign obligations 1,268,489 [4] 1,395,355 [5]
Derivatives 435,602 [4] 547,605 [5]
Total financial instruments sold, not yet purchased 5,969,314 [4] 4,814,053 [5]
Obligation to return securities received as collateral 25,338 [4]  
Level 2 [Member]
   
Financial instruments owned:    
Corporate equity securities 232,045 [4] 137,245 [5]
Corporate debt securities 3,339,644 [4] 3,034,515 [5]
Collateralized debt obligations 115,145 [4] 87,239 [5]
U.S. government and federal agency securities 132,794 [4] 115,310 [5]
Municipal securities 603,957 [4] 619,969 [5]
Sovereign obligations 1,455,658 [4] 975,810 [5]
Loans and other receivables 797,374 [4] 497,918 [5]
Derivatives 1,491,718 [4] 1,547,984 [5]
Investments at fair value 1,036 [4] 43,126 [5]
Physical commodities 157,299 [4] 144,016 [5]
Total financial instruments owned 12,932,604 [4] 12,365,537 [5]
Financial instruments sold, not yet purchased:    
Corporate equity securities 236,320 [4] 96,947 [5]
Corporate debt securities 1,845,617 [4] 1,389,312 [5]
U.S. government and federal agency securities   250,387 [5]
Sovereign obligations 1,209,355 [4] 591,624 [5]
Loans 444,609 [4] 205,516 [5]
Derivatives 1,640,905 [4] 1,684,884 [5]
Physical commodities 167,550 [4] 183,142 [5]
Total financial instruments sold, not yet purchased 5,644,394 [4] 4,643,023 [5]
Level 2 [Member] | Residential mortgage-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 3,620,210 [4] 4,008,844 [5]
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 94,532 [4] 239,063 [5]
Level 2 [Member] | Commercial mortgage-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 915,820 [4] 1,060,333 [5]
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 1,811 [4] 2,148 [5]
Level 2 [Member] | Other asset-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 69,904 [4] 93,228 [5]
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 3,695 [4]  
Level 3 [Member]
   
Financial instruments owned:    
Corporate equity securities 13,234 16,815
Corporate debt securities 31,820 3,631
Collateralized debt obligations 29,776 31,255
Loans and other receivables 170,986 180,393
Derivatives 220 328
Investments at fair value 70,067 83,897
Total financial instruments owned 504,575 503,704
Level 3 financial instruments for which the firm does not bear economic exposure (38,771) [6] (53,289) [6]
Level 3 financial instruments for which the firm bears economic exposure 465,804 450,415
Investments in managed funds 59,976 57,763
Total Level 3 assets for which the firm bears economic exposure 525,780 508,178
Financial instruments sold, not yet purchased:    
Corporate equity securities 38 38
Loans 7,398 1,711
Derivatives 11,405 9,516
Total financial instruments sold, not yet purchased 20,383 11,265
Level 3 [Member] | Residential mortgage-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 169,426 156,069
Financial instruments sold, not yet purchased:    
Mortgage- and asset-backed securities, liabilities 1,542  
Level 3 [Member] | Commercial mortgage-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 17,794 30,202
Level 3 [Member] | Other asset-backed securities [Member]
   
Financial instruments owned:    
Mortgage- and asset-backed securities, assets 1,252 1,114
Counterparty and Cash Collateral Netting [Member]
   
Financial instruments owned:    
Derivatives (1,730,913) [7] (1,865,250) [7]
Total financial instruments owned (1,730,913) [7] (1,865,250) [7]
Financial instruments sold, not yet purchased:    
Derivatives (1,867,215) [7] (2,012,878) [7]
Total financial instruments sold, not yet purchased $ (1,867,215) [7] $ (2,012,878) [7]
[1] Consists of deposits at exchanges and clearing organizations, as well as deposits in accordance with Rule 15c3-3 of the Securities Exchange Act of 1934, which subjects Jefferies as a broker-dealer carrying client accounts to requirements related to maintaining cash or qualified securities in a segregated reserve account for the exclusive benefit of its clients, and Jefferies Bache, LLC which, as a futures commission merchant, is subject to the segregation requirements pursuant to the Commodity Exchange Act.
[2] Includes U.S. government securities segregated for regulatory purposes with a fair value of $357.2 million.
[3] Includes U.S. government securities segregated for regulatory purposes with a fair value of $404.3 million.
[4] There were no transfers between Level 1 and Level 2 for the three months ended February 28, 2013.
[5] There were no transfers between Level 1 and Level 2 for the year ended November 30, 2012.
[6] Consists of Level 3 assets attributable to third party or employee noncontrolling interests in certain consolidated entities.
[7] Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty.