Jefferies Financial Group Inc

For the period ended Aug 31, 2024. Filed Oct 9, 2024.

About 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.

Aug 31, 2024 · Filed Oct 9, 2024

JEF$48.06-2.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows (Unaudited)

Consolidated Statements of Cash Flows

	Nine Months Ended August 31,
$ in thousands	2024	2023
Cash flows from operating activities:
Net earnings	$492,118	$191,955
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization	141,584	84,891
Share-based compensation	47,949	35,476
Net bad debt expense	48,305	45,408
Loss (income) on investments and loans to related parties	(62,187)	229,917
Distributions received on investments in related parties	36,048	33,973
Gain on sale of subsidiary and investment in related parties	(58,452)	—
Other adjustments	208,693	(58,991)
Net change in assets and liabilities:
Securities deposited with clearing and depository organizations	—	(159,625)
Receivables:
Brokers, dealers and clearing organizations	(188,454)	(55,212)
Customers	(356,045)	(322,279)
Fees, interest and other	(59,530)	46,286
Securities borrowed	158,071	(849,753)
Financial instruments owned	(2,145,820)	(4,142,510)
Securities purchased under agreements to resell	(975,592)	(785,640)
Other assets	(421,913)	(579,442)
Payables:
Brokers, dealers and clearing organizations	663,467	501,040
Customers	(62,089)	463,802
Securities loaned	691,548	50,620
Financial instruments sold, not yet purchased	985,256	777,323
Securities sold under agreements to repurchase	(1,387,996)	3,020,443
Lease liabilities	(56,408)	(52,923)
Accrued expenses and other liabilities	451,355	(364,734)
Net cash used in operating activities from continuing operations	(1,850,092)	(1,889,975)
Net cash used in operating activities from discontinued operations	(68,789)	—
Cash flows from investing activities:
Contributions to investments in and loans to related parties	(108,484)	(130,445)
Capital distributions from investments and repayments of loans from related parties	1,406	20,631
Originations and purchases of automobile loans, notes and other receivables	(89,540)	(332,786)
Principal collections of automobile loans, notes and other receivables	83,268	266,772
Net payments on premises and equipment	(180,654)	(80,210)
Proceeds from sales of subsidiary and investment in related parties, net of cash of operations sold	610,843	—
Net cash provided by (used in) investing activities from continuing operations	316,839	(256,038)

Continued on next page.

6	Jefferies Financial Group Inc.

Consolidated Statements of Cash Flows(continued)

	Nine Months Ended August 31,
$ in thousands	2024	2023
Cash flows from financing activities:
Proceeds from short-term borrowings	3,826,758	4,878,000
Payments on short-term borrowings	(3,058,475)	(4,481,800)
Proceeds from issuance of long-term debt, net of issuance costs	4,646,993	1,546,907
Repayment of long-term debt	(1,763,572)	(871,645)
Proceeds from conversion of common to preferred shares	9,844	31,500
Purchase of common shares for treasury	(44,311)	(165,272)
Dividends paid to common and preferred shareholders	(221,392)	(208,617)
Net proceeds from other secured financings	434,285	282,776
Net change in bank overdrafts	(33,795)	300
Proceeds from contributions of noncontrolling interests	9,426	—
Payments on distributions to noncontrolling interests	(12,565)	—
Other	7,871	5,733
Net cash provided by financing activities from continuing operations	3,801,067	1,017,882
Net cash used in financing activities from discontinued operations	(170,631)	—
Effect of exchange rate changes on cash, cash equivalents and restricted cash	18,901	(216)
Net increase (decrease) in cash, cash equivalents and restricted cash	2,047,295	(1,128,347)
Net decrease in cash, cash equivalents and restricted cash classified within assets held for sale	(13,224)	—
Cash, cash equivalents and restricted cash at beginning of period	9,830,758	10,707,244
Cash, cash equivalents and restricted cash at end of period	$11,864,829	$9,578,897
Supplemental disclosures of cash flow information:
Cash paid during the period for
Interest	$2,535,591	$1,665,693
Income taxes, net	167,796	151,323

Noncash investing activities:

During the nine months ended August 31, 2024, we had a stock distribution of $0.6 million from one of our equity method investments.

During the nine months ended August 31, 2023, we had acquisition related activity attributable to Vitesse Oil, LLC of $30.6 million.

Noncash financing activities:

During the nine months ended August 31, 2023, we had non-cash financing activities of:

Capital distributions of $527.0 million and $31.4 million to our shareholders and noncontrolling interest holders, respectively, related to the spin-off of Vitesse Energy, Inc. during the nine months ended August 31, 2023.

Preferred shares of $125.0 million were converted into common shares during the nine months ended August 31, 2023.

Cash, cash equivalents and restricted cash by category in our Consolidated Statements of Financial Condition:

$ in thousands	August 31, 2024	November 30, 2023
Cash and cash equivalents	$10,573,471	$8,526,363
Cash on deposit for regulatory purposes with clearing and depository organizations	1,291,358	1,304,395
Total cash, cash equivalents and restricted cash	$11,864,829	$9,830,758

August 2024 Form 10-Q	7

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.