Jefferies Financial Group Inc.
For the period ended Feb 28, 2026. Filed Apr 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 28, 2026 · Filed Apr 7, 2026
JEF$48.06-2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (Unaudited)
| Three Months Ended February 28, | ||
|---|---|---|
| $ in thousands | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net earnings ................................................................................................................................................................... | $159,346 | $136,849 |
| Adjustments to reconcile net earnings to net cash used in operating activities: | ||
| Depreciation and amortization ................................................................................................................................. | 41,335 | 32,995 |
| Impairment of assets ................................................................................................................................................ | 65,413 | — |
| Share-based compensation ...................................................................................................................................... | 50,672 | 35,637 |
| Net bad debt expense ............................................................................................................................................... | 14,427 | 7,493 |
| Income on investments in and loans to related parties ....................................................................................... | (24,474) | (7,052) |
| Distributions received on investments in related parties ..................................................................................... | 21,173 | 16,142 |
| Other adjustments ..................................................................................................................................................... | 118,761 | (44,419) |
| Net change in assets and liabilities: | ||
| Receivables: | ||
| Brokers, dealers and clearing organizations ....................................................................................................... | 547,515 | (877,505) |
| Customers ................................................................................................................................................................ | (544,527) | 32,699 |
| Fees, interest and other .......................................................................................................................................... | 7,851 | (47,567) |
| Securities borrowed ................................................................................................................................................... | 619,155 | (1,198,188) |
| Financial instruments owned ................................................................................................................................... | (357,809) | (2,271,617) |
| Securities purchased under agreements to resell ................................................................................................ | 664,567 | (1,976,348) |
| Other assets ................................................................................................................................................................ | (305,830) | (236,583) |
| Payables: | ||
| Brokers, dealers and clearing organizations ....................................................................................................... | (1,308,863) | 546,020 |
| Customers ................................................................................................................................................................ | 134,119 | 48,413 |
| Securities loaned ........................................................................................................................................................ | 149,785 | (30,136) |
| Financial instruments sold, not yet purchased ...................................................................................................... | 1,139,710 | 3,027,469 |
| Securities sold under agreements to repurchase ................................................................................................. | (1,776,125) | 1,359,656 |
| Lease liabilities ........................................................................................................................................................... | (17,783) | (21,429) |
| Accrued expenses and other liabilities ................................................................................................................... | (1,135,709) | (1,197,694) |
| Net cash used in operating activities ........................................................................................................................ | (1,737,291) | (2,665,165) |
| Cash flows from investing activities: | ||
| Contributions to investments in and loans to related parties ............................................................................. | (64,830) | (21,949) |
| Capital distributions from investments and repayments of loans from related parties ................................. | 426 | 13,752 |
| Net payments on premises and equipment ........................................................................................................... | (64,861) | (49,578) |
| Net cash used in investing activities ........................................................................................................................ | (129,265) | (57,775) |
| Cash flows from financing activities: | ||
| Proceeds from short-term borrowings ................................................................................................................... | $2,081,271 | $3,253,704 |
| Payments on short-term borrowings ...................................................................................................................... | (1,916,779) | (2,662,000) |
| Proceeds from issuance of long-term debt, net of issuance costs .................................................................... | 2,570,746 | 1,536,928 |
| Repayment of long-term debt .................................................................................................................................. | (1,239,142) | (188,890) |
| Purchase of common shares for treasury.............................................................................................................. | (174,303) | (56,318) |
| Dividends paid to common and preferred shareholders ...................................................................................... | (92,791) | (92,735) |
| Net proceeds from (payments on) other secured financings ............................................................................. | (600,057) | 98,941 |
| Net change in bank overdrafts ................................................................................................................................. | (8,400) | 137,305 |
| Proceeds from contributions of noncontrolling interests .................................................................................... | 119 | 104 |
| Payments on distributions to noncontrolling interests ........................................................................................ | (1,518) | (2,795) |
| Other ............................................................................................................................................................................ | 7,956 | 1,916 |
| Net cash provided by financing activities ................................................................................................................ | 627,102 | 2,026,160 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash ........................................... | (152) | (8,062) |
| Change in cash, cash equivalents, and restricted cash reclassified from (to) assets held for sale ................. | (6,266) | — |
| Net decrease in cash, cash equivalents, and restricted cash ................................................................................ | (1,239,606) | (704,842) |
| Cash, cash equivalents, and restricted cash at beginning of period ..................................................................... | 14,961,586 | 13,165,612 |
| Cash, cash equivalents, and restricted cash at end of period .............................................................................. | $13,715,714 | $12,460,770 |
| February 2026 Form 10-Q | 7 |
|---|
Consolidated Statements of Cash Flows(Unaudited)
| Three Months Ended February 28, | ||
|---|---|---|
| $ in thousands | 2026 | 2025 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest ......................................................................................................................................................................... | $831,330 | $845,673 |
| Income taxes, net ....................................................................................................................................................... | 37,848 | 9,089 |
Noncash investing activities:
During thethree months ended February 28, 2025, we donated land with a fair market value of$5.7 million.
Cash, cash equivalents and restricted cash by category in our Consolidated Statements of Financial Condition:
| February 28, | November 30, | |
|---|---|---|
| $ in thousands | 2026 | 2025 |
| Cash and cash equivalents ........................................................................................................................................... | $11,963,165 | $14,043,889 |
| Cash on deposit for regulatory purposes with clearing and depository organizations ....................................... | 1,752,549 | 917,697 |
| Total cash, cash equivalents and restricted cash .................................................................................................... | $13,715,714 | $14,961,586 |
| 8 | Jefferies Financial Group Inc. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.