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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2023
May 31, 2022
May 31, 2023
May 31, 2022
Statement of Comprehensive Income [Abstract]        
Net earnings $ 8,684 $ 116,858 [1] $ 138,008 $ 444,833 [1]
Other comprehensive income (loss), net of tax:        
Currency translation adjustments and other [2] 17,150 (22,062) 27,366 (21,488)
Changes in instrument specific credit risk [3] 34,195 35,766 (17,958) 77,200
Unrealized losses on available-for-sale securities (292) (373) (41) (546)
Total other comprehensive income (loss), net of tax [4] 51,053 13,331 9,367 55,166
Comprehensive income 59,737 130,189 147,375 499,999
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 [1] 2,016 4,141 [1]
Comprehensive income attributable to Jefferies Financial Group Inc. $ 63,448 $ 127,345 $ 155,381 $ 496,627
[1] See Note 1 for a description of financial statement presentation changes made as a result of our Merger with Jefferies Group.
[2] The amounts include income tax benefits of approximately $4.7 million and $1.4 million during the three and six months ended May 31, 2023, respectively, and income tax benefits of approximately $8.3 million and $8.5 million during the three and six months ended May 31, 2022, respectively.
[3] The amounts include income tax benefits (expenses) of approximately $(11.2) million and $8.0 million during the three and six months ended May 31, 2023, respectively, and income tax expenses of approximately $11.5 million and $24.7 million during the three and six months ended May 31, 2022, respectively. Refer to Note 17, Accumulated Other Comprehensive Income (Loss) for additional information related to fair value changes related to instrument specific-credit risk, which were reclassified to Principal transactions revenues in our Consolidated Statements of Earnings.
[4] None of the components of other comprehensive income are attributable to noncontrolling interests, redeemable noncontrolling interest or preferred stock dividends.