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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
May 31, 2025
May 31, 2024
Cash flows from operating activities:    
Net earnings $ 228,244 $ 311,079
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 88,454 93,722
Share-based compensation 53,830 34,572
Net bad debt expense 13,463 46,593
Income on investments in and loans to related parties (15,162) (37,202)
Distributions received on investments in related parties 28,593 874
Gain on sale of subsidiaries and investments in related parties 0 (56,174)
Other adjustments 184,362 147,851
Receivables:    
Brokers, dealers and clearing organizations (90,224) (722,293)
Customers (158,094) (594,067)
Fees, interest and other (143,594) (114,271)
Securities borrowed (622,392) 48,414
Financial instruments owned (1,241,243) (937,418)
Securities purchased under agreements to resell (1,266,238) (799,421)
Other assets (205,378) (539,351)
Payables:    
Brokers, dealers and clearing organizations 112,293 601,124
Customers 192,801 (119,505)
Securities loaned (509,851) 405,066
Financial instruments sold, not yet purchased 727,110 680,922
Securities sold under agreements to repurchase (217,150) 122,236
Lease liabilities (33,240) (38,778)
Accrued expenses and other liabilities (770,081) 285,980
Net cash used in operating activities from continuing operations (3,643,497) (1,180,047)
Net cash used in operating activities from discontinued operations 0 (90,174)
Cash flows from investing activities:    
Contributions to investments in and loans to related parties (111,087) (62,543)
Capital distributions from investments and repayments of loans from related parties 47,190 7,941
Originations and purchases of automobile loans, notes and other receivables 0 (89,540)
Principal collections of automobile loans, notes and other receivables 0 83,268
Net payments on premises and equipment (93,247) (144,857)
Proceeds from sales of subsidiary and investment in related parties, net of cash of operations sold 0 95,276
Net cash used in investing activities from continuing operations (157,144) (110,455)
Cash flows from financing activities:    
Proceeds from short-term borrowings 4,744,829 2,113,633
Payments on short-term borrowings (3,852,844) (1,495,796)
Proceeds from issuance of long-term debt, net of issuance costs 2,635,540 3,527,009
Repayment of long-term debt (960,857) (726,019)
Purchase of common shares for treasury (57,568) (43,979)
Dividends paid to common and preferred shareholders (187,054) (139,823)
Net proceeds from other secured financings 556,902 240,898
Net change in bank overdrafts (22,945) 17,754
Proceeds from contributions of noncontrolling interests 16,354 9,321
Payments on distributions to noncontrolling interests (3,223) (10,689)
Other 16,134 6,984
Net cash provided by financing activities from continuing operations 2,885,268 3,499,293
Net cash provided by financing activities from discontinued operations 0 4,384
Supplemental Cash Flow Elements [Abstract]    
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 61,470 (1,513)
Change in cash, cash equivalents, and restricted cash reclassified from (to) assets held for sale 0 (13,224)
Net (decrease) increase in cash, cash equivalents, and restricted cash (853,905) 2,121,488
Cash, cash equivalents, and restricted cash at beginning of period 13,165,612 9,830,758
Cash, cash equivalents, and restricted cash at end of period 12,311,707 11,939,022
Cash paid during the period for:    
Interest 1,716,136 1,579,458
Income taxes, net 53,197 88,988
Non-cash investing activities related to donated land with a fair market value $ 5,700  
Non-cash investing activities   $ 600