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CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2023
May 31, 2022
[1]
May 31, 2023
May 31, 2022
[1]
Revenues        
Total revenues $ 1,651,182 $ 1,596,446 $ 3,431,746 $ 3,509,261
Interest expense 613,572 258,376 1,110,644 478,349
Net revenues 1,037,610 1,338,070 2,321,102 3,030,912
Non-interest expenses        
Compensation and benefits 575,868 579,578 1,278,926 1,370,330
Floor brokerage and clearing fees 96,592 94,016 177,066 177,977
Underwriting costs 13,169 13,191 26,376 21,319
Technology and communications 118,936 111,113 232,321 218,129
Occupancy and equipment rental 24,395 26,027 51,710 52,992
Business development 43,587 44,695 80,425 71,567
Professional services 68,514 55,766 130,675 108,508
Depreciation and amortization 25,310 40,307 58,602 86,244
Cost of sales 2,362 130,449 4,530 226,120
Other expenses 50,958 76,387 104,534 138,853
Total non-interest expenses 1,019,691 1,171,529 2,145,165 2,472,039
Earnings before income taxes 17,919 166,541 175,937 558,873
Income tax expense 9,235 49,683 37,929 114,040
Net earnings 8,684 116,858 138,008 444,833
Net earnings (losses) attributable to noncontrolling interests (3,513) 1,096 (9,568) 127
Net losses attributable to redeemable noncontrolling interests (198) (323) (454) (896)
Preferred stock dividends 0 2,071 2,016 4,141
Net earnings attributable to Jefferies Financial Group Inc. $ 12,395 $ 114,014 $ 146,014 $ 441,461
Basic earnings per common share (in USD per share) $ 0.05 $ 0.46 $ 0.60 $ 1.73
Diluted earnings per common share (in USD per share) $ 0.05 $ 0.45 $ 0.60 $ 1.70
Investment banking        
Revenues        
Total revenues $ 492,475 $ 600,859 $ 995,273 $ 1,545,907
Principal transactions        
Revenues        
Total revenues 320,959 196,995 818,205 440,167
Commissions and other fees        
Revenues        
Total revenues 235,312 254,706 448,582 484,022
Asset management fees and revenues        
Revenues        
Total revenues 13,933 14,129 52,919 53,680
Interest        
Revenues        
Total revenues 632,679 245,051 1,164,064 459,335
Other        
Revenues        
Total revenues $ (44,176) $ 284,706 $ (47,297) $ 526,150
[1] See Note 1 for a description of financial statement presentation changes made as a result of our Merger with Jefferies Group.