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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Nov. 30, 2019
Selected Quarterly Financial Information [Abstract]  
Schedule Of Selected Quarterly Financial Data
 
First
Quarter (1)
 
Second
Quarter (2)
 
Third
Quarter (3)
 
Fourth
Quarter (4)
 
(In thousands, except per share amounts)
2019
 
 
 
 
 
 
 
Net revenues
$
828,443

 
$
1,101,657

 
$
856,778

 
$
1,106,098

Income from continuing operations
47,015

 
672,276

 
49,394

 
193,878

Net (income) loss attributable to the noncontrolling interest
(1,066
)
 
191

 
116

 
2,606

Net (income) loss attributable to the redeemable noncontrolling interests
138

 
(427
)
 
242

 
333

Preferred stock dividends
(1,276
)
 
(1,276
)
 
(1,275
)
 
(1,276
)
Net income attributable to Jefferies Financial Group Inc. common shareholders
44,811

 
670,764

 
48,477

 
195,541

 
 
 
 
 
 
 
 
Basic earnings per common share attributable to Jefferies Financial Group Inc. common shareholders:
 

 
 

 
 

 
 

Net income
$
0.14

 
$
2.17

 
$
0.16

 
$
0.63

Number of shares used in calculation
315,175

 
307,010

 
310,288

 
310,266

 
 
 
 
 
 
 
 
Diluted earnings per common share attributable to Jefferies Financial Group Inc. common shareholders:
 

 
 

 
 

 
 

Net income
$
0.14

 
$
2.14

 
$
0.15

 
$
0.62

Number of shares used in calculation
318,752

 
312,527

 
311,897

 
316,566

 
 
 
 
 
 
 
 
2018
 

 
 

 
 

 
 

Net revenues
$
895,435

 
$
911,159

 
$
1,150,846

 
$
806,594

Income (loss) from continuing operations
86,192

 
27,917

 
182,301

 
(19,318
)
Income from discontinued operations, net of taxes
52,957

 
77,106

 
—

 
—

Gain on disposal of discontinued operations, net of taxes
—

 
643,921

 
—

 
—

Net (income) loss attributable to the noncontrolling interest
1,344

 
(136
)
 
12,000

 
(233
)
Net (income) loss attributable to the redeemable noncontrolling interests
(14,796
)
 
(22,108
)
 
(390
)
 
31

Preferred stock dividends
(1,172
)
 
(1,171
)
 
(1,276
)
 
(851
)
Net income (loss) attributable to Jefferies Financial Group Inc. common shareholders
124,525

 
725,529

 
192,635

 
(20,371
)
 
 
 
 
 
 
 
 
Basic earnings (loss) per common share attributable to Jefferies Financial Group Inc. common shareholders:
 

 
 

 
 

 
 

Income (loss) from continuing operations
$
0.23

 
$
0.08

 
$
0.56

 
$
(0.06
)
Income from discontinued operations
0.11

 
0.15

 
—

 
—

Gain on disposal of discontinued operations
—

 
1.82

 
—

 
—

Net income (loss)
$
0.34

 
$
2.05

 
$
0.56

 
$
(0.06
)
Number of shares used in calculation
366,427

 
352,049

 
341,434

 
329,101

 
 
 
 
 
 
 
 
Diluted earnings (loss) per common share attributable to Jefferies Financial Group Inc. common shareholders:
 

 
 

 
 

 
 

Income (loss) from continuing operations
$
0.23

 
$
0.08

 
$
0.55

 
$
(0.06
)
Income from discontinued operations
0.11

 
0.15

 
—

 
—

Gain on disposal of discontinued operations
—

 
1.80

 
—

 
—

Net income (loss)
$
0.34

 
$
2.03

 
$
0.55

 
$
(0.06
)
Number of shares used in calculation
373,461

 
356,075

 
350,307

 
329,101

(1)
The first quarter of 2019 includes $27.1 million of equity income related to National Beef and a mark-to-market increase of $36.0 million in the value of our investment in Spectrum Brands.
    
The first quarter of 2018 includes a mark-to-market decrease of $21.4 million in the value of our investment in HRG.

(2)
The second quarter of 2019 includes a nonrecurring tax benefit of $544.6 million related to the closing of our available for sale portfolio, which triggered the realization of lodged tax benefits from earlier years and $34.9 million of equity income related to National Beef. These increases were partially offset by a $11.3 million mark-to-market decrease in the value of our investment in Spectrum Brands.

The second quarter of 2018 includes the after-tax gain on disposal of discontinued operations of $643.9 million from the National Beef transaction and a mark-to-market decrease of $158.4 million in the value of our investment in HRG.
    
(3)
The third quarter of 2019 includes a $72.1 million pre-tax gain related to the purchase of the remaining interest in HomeFed and $75.9 million of equity income related to National Beef. This increase was partially offset by a $146.0 million decrease in the estimated fair value of our investment in The We Company.

The third quarter of 2018 includes a $221.7 million pre-tax gain on the sale of our Garcadia interests and $58.9 million of equity income related to National Beef. These increases were partially offset by a $47.9 million impairment loss related to Golden Queen and losses of $48.5 million from a decrease in the fair value of our investment in Spectrum Brands.

(4)
The fourth quarter of 2019 is comprised of the three months ended November 30, 2019 and the fourth quarter of 2018 is comprised of the two months ended November 30, 2018.