2019 Q1 Form 10-Q Financial Statement

#000009622319000022 Filed on April 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $1.195B $1.161B
YoY Change 2.92% -62.31%
Cost Of Revenue $66.92M $81.94M
YoY Change -18.32% -94.66%
Gross Profit $1.128B $1.079B
YoY Change 4.53% -30.25%
Gross Profit Margin 94.4% 92.94%
Selling, General & Admin $630.7M $716.0M
YoY Change -11.91% 6.99%
% of Gross Profit 55.91% 66.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.93M $28.16M
YoY Change 20.5% -25.89%
% of Gross Profit 3.01% 2.61%
Operating Expenses $664.6M $744.1M
YoY Change -10.68% 0.26%
Operating Profit $463.5M $335.1M
YoY Change 38.32% -58.38%
Interest Expense $23.02M $21.50M
YoY Change 7.07% -21.49%
% of Operating Profit 4.97% 6.42%
Other Income/Expense, Net
YoY Change
Pretax Income $49.32M $37.76M
YoY Change 30.6% -90.51%
Income Tax $2.300M -$48.43M
% Of Pretax Income 4.66% -128.24%
Net Earnings $44.81M $124.5M
YoY Change -64.01% -55.75%
Net Earnings / Revenue 3.75% 10.72%
Basic Earnings Per Share $0.14 $0.34
Diluted Earnings Per Share $0.14 $0.34
COMMON SHARES
Basic Shares Outstanding 315.2M shares 366.4M shares
Diluted Shares Outstanding 318.8M shares 373.5M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.517B $5.145B
YoY Change 7.23% 20.75%
Cash & Equivalents $5.517B $5.145B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $12.75B $11.86B
YoY Change 7.51% 17.1%
LONG-TERM ASSETS
Property, Plant & Equipment $754.7M
YoY Change 5.04%
Goodwill $1.705B $1.724B
YoY Change -1.09% 0.51%
Intangibles $185.8M $727.0M
YoY Change -74.44% -7.25%
Long-Term Investments $2.381B $2.233B
YoY Change 6.63% 5.21%
Other Assets $1.263B $1.580B
YoY Change -20.06% -23.52%
Total Long-Term Assets $36.21B $37.15B
YoY Change -2.51% 3.6%
TOTAL ASSETS
Total Short-Term Assets $12.75B $11.86B
Total Long-Term Assets $36.21B $37.15B
Total Assets $48.96B $49.00B
YoY Change -0.09% 6.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.294B $7.336B
YoY Change -0.57% 6.94%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $530.5M $468.0M
YoY Change 13.34% 10.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.37B $18.43B
YoY Change 5.1% 7.63%
LONG-TERM LIABILITIES
Long-Term Debt $9.338B $9.880B
YoY Change -5.49% 7.85%
Other Long-Term Liabilities $10.28B $9.992B
YoY Change 2.86% 14.01%
Total Long-Term Liabilities $19.62B $19.87B
YoY Change -1.29% 10.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.37B $18.43B
Total Long-Term Liabilities $19.62B $19.87B
Total Liabilities $38.86B $38.17B
YoY Change 1.79% 9.32%
SHAREHOLDERS EQUITY
Retained Earnings $5.615B $4.833B
YoY Change 16.17% -1.43%
Common Stock $3.979B $5.068B
YoY Change -21.49% -2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 18.66M shares 59.58M shares
Shareholders Equity $9.933B $10.26B
YoY Change
Total Liabilities & Shareholders Equity $48.96B $49.00B
YoY Change -0.09% 6.57%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $44.81M $124.5M
YoY Change -64.01% -55.75%
Depreciation, Depletion And Amortization $33.93M $28.16M
YoY Change 20.5% -25.89%
Cash From Operating Activities -$784.0M -$405.3M
YoY Change 93.45% 18.38%
INVESTING ACTIVITIES
Capital Expenditures -$46.10M -$42.30M
YoY Change 8.98% -10.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$4.000K
YoY Change -100.0% -99.68%
Cash From Investing Activities $1.075B -$256.8M
YoY Change -518.62% -304.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $214.7M $2.700M
YoY Change 7850.41% 1.89%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$38.34M $874.5M
YoY Change -104.38% 66.35%
NET CHANGE
Cash From Operating Activities -$784.0M -$405.3M
Cash From Investing Activities $1.075B -$256.8M
Cash From Financing Activities -$38.34M $874.5M
Net Change In Cash $265.8M $215.1M
YoY Change 23.56% -29.5%
FREE CASH FLOW
Cash From Operating Activities -$784.0M -$405.3M
Capital Expenditures -$46.10M -$42.30M
Free Cash Flow -$737.9M -$363.0M
YoY Change 103.29% 22.9%

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CY2018Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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86192000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
47015000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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0.23
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.14
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0.23
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IncomeLossFromContinuingOperationsPerDilutedShare
0.14
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38507000 USD
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
CY2018Q1 us-gaap Income Loss From Equity Method Investments
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32100000 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments
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27313000 USD
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CY2019Q1 us-gaap Income Tax Expense Benefit
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2302000 USD
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CY2019Q1 us-gaap Income Taxes Paid Net
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1320380000 USD
CY2019Q1 us-gaap Increase Decrease In Brokerage Receivables
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1094082000 USD
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33644000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Capital Net
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-33509000 USD
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-28926000 USD
CY2019Q1 us-gaap Increase Decrease In Other Receivables
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27067000 USD
CY2018Q1 us-gaap Increase Decrease In Payables To Broker Dealers
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812757000 USD
CY2019Q1 us-gaap Increase Decrease In Payables To Broker Dealers
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301741000 USD
CY2018Q1 us-gaap Increase Decrease In Payables To Customers
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222603000 USD
CY2019Q1 us-gaap Increase Decrease In Payables To Customers
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212895000 USD
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-418052000 USD
CY2019Q1 us-gaap Increase Decrease In Payables Under Repurchase Agreements
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632686000 USD
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-427310000 USD
CY2019Q1 us-gaap Increase Decrease In Securities Borrowed
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674484000 USD
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-476725000 USD
CY2019Q1 us-gaap Increase Decrease In Securities Loaned Transactions
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378261000 USD
CY2018Q1 us-gaap Increase Decrease In Trading Liabilities
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1517714000 USD
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705164000 USD
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1161274000 USD
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358751000 USD
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1317000 shares
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1831000 shares
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185843000 USD
CY2018Q4 us-gaap Intangible Assets Net Including Goodwill
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1890131000 USD
CY2019Q1 us-gaap Intangible Assets Net Including Goodwill
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21498000 USD
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InterestPaidNet
399350000 USD
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2417332000 USD
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2381026000 USD
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LaborAndRelatedExpense
409592000 USD
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Liabilities
36907059000 USD
CY2019Q1 us-gaap Liabilities
Liabilities
38858023000 USD
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44811000 USD
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47131095000 USD
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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LongTermDebt
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CY2019Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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18391000 USD
CY2019Q1 us-gaap Minority Interest
MinorityInterest
23181000 USD
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981000 USD
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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851195000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-38337000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
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1074852000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-240219000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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1074852000 USD
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CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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-393501000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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-783955000 USD
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124525000 USD
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CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1066000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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14796000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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124026000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
44556000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
44549000 USD
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CY2019Q1 us-gaap Other Assets
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17903000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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30954000 USD
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
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1926000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
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7722000 USD
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CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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1446000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
484000 USD
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1248000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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30954000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
1234000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
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-4634000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Reclassification Adjustment Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterReclassificationAdjustmentTax
6048000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
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CY2019Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
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17829000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition After Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionAfterTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition After Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionAfterTax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionTax
-99000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period After Tax
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-11569000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period After Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodAfterTax
17535000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodTax
-4634000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodTax
5949000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
17903000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1926000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
7722000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
12177000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
50333000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-5806000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-355000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
151000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
119000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-15000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-1129000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-5000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-377000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
5806000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
355000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
-151000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
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CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1248000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-251000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
1234000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-86000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-1226000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
317000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-370000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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107000 USD
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CY2019Q1 us-gaap Other Depreciation And Amortization
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230000000 USD
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OtherInvestmentNotReadilyMarketableFairValue
229800000 USD
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CY2019Q1 us-gaap Other Secured Financings
OtherSecuredFinancings
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CY2018Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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499000 USD
CY2019Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
255000 USD
CY2018Q4 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
2465600000 USD
CY2019Q1 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
2767600000 USD
CY2018Q4 us-gaap Payables To Customers
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3176700000 USD
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3389600000 USD
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-4000 USD
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0 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2700000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
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214661000 USD
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35990000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
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37817000 USD
CY2018Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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1790110000 USD
CY2019Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
45448000 USD
CY2018Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
653392000 USD
CY2019Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1386000 USD
CY2018Q1 us-gaap Payments To Acquire Receivables
PaymentsToAcquireReceivables
0 USD
CY2019Q1 us-gaap Payments To Acquire Receivables
PaymentsToAcquireReceivables
87019000 USD
CY2018Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged
13059802000 USD
CY2019Q1 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged
14322307000 USD
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1172000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1276000 USD
CY2018Q1 us-gaap Proceeds From Other Debt
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1477741000 USD
CY2019Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
533435000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1013000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
4211000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
2360000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-8360000 USD
CY2018Q1 us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
8197000 USD
CY2019Q1 us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
57013000 USD
CY2018Q1 us-gaap Revenues
Revenues
1161111000 USD
CY2019Q1 us-gaap Secured Borrowings Gross Including Not Subject To Master Netting Arrangement
SecuredBorrowingsGrossIncludingNotSubjectToMasterNettingArrangement
23897663000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Operations</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Jefferies Financial Group Inc. ("Jefferies" or the "Company") is a diversified financial services company engaged in investment banking and capital markets, asset management and direct investing. Jefferies Group LLC ("Jefferies Group"), our largest subsidiary, is the largest independent full-service global investment banking firm headquartered in the U.S. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Jefferies Group operates in </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> business segments: Capital Markets and Asset Management. Capital Markets includes investment banking, sales and trading and other related services. Investment banking provides capital markets and financial advisory services to clients across most industry sectors in the Americas, Europe and Asia. Sales and trading businesses operate across the spectrum of equities, fixed income and foreign exchange products. Related services include, among other things, prime brokerage and equity finance, research and strategy, corporate lending and real estate finance, as well as other principal and corporate investing activities. Asset Management provides investment management services to investors in the U.S. and overseas and makes capital investments in managed funds and accounts. In March 2013, Jefferies Group became an indirect wholly-owned subsidiary of Jefferies, yet retains a separate credit rating and continues to be a separate U.S. Securities and Exchange Commission ("SEC") reporting company.&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> Merchant Banking is where we invest in unique long-term opportunities. Our current Merchant Banking businesses and investments include National Beef Packing Company, LLC ("National Beef") (beef processing), Spectrum Brands Holdings, Inc. ("Spectrum Brands") (consumer products), Linkem (fixed wireless broadband services in Italy), Vitesse Energy, LLC ("Vitesse Energy Finance") and JETX Energy, LLC ("JETX Energy") (oil and gas production and development), WeWork (global network of workspaces), HomeFed Corporation ("HomeFed") (real estate), Idaho Timber (manufacturing) and FXCM Group, LLC ("FXCM") (provider of online foreign exchange trading services). Our Merchant Banking businesses and investments also included Leucadia Asset Management ("LAM") (asset management) and Berkadia Commercial Mortgage Holding LLC ("Berkadia") (commercial mortgage banking, investment sales and servicing), prior to their transfer to Jefferies Group in the fourth quarter of 2018 and Garcadia (automobile dealerships), prior to its sale in August 2018. The structure of each of our investments was tailored to the unique opportunity each transaction presented. Our investments may be reflected in our consolidated results as consolidated subsidiaries, equity investments, securities or in other ways, depending on the structure of our specific holdings.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We now own </font><font style="font-family:inherit;font-size:10pt;">31%</font><font style="font-family:inherit;font-size:10pt;"> of National Beef, one of the largest beef processing companies in the U.S. On June 5, 2018, we completed the sale of </font><font style="font-family:inherit;font-size:10pt;">48%</font><font style="font-family:inherit;font-size:10pt;"> of National Beef to Marfrig Global Foods S.A. ("Marfrig") reducing our ownership in National Beef from </font><font style="font-family:inherit;font-size:10pt;">79%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">31%</font><font style="font-family:inherit;font-size:10pt;">. As of the closing of the sale on June 5, 2018, we deconsolidated our investment in National Beef and account for our remaining </font><font style="font-family:inherit;font-size:10pt;">31%</font><font style="font-family:inherit;font-size:10pt;"> interest in National Beef under the equity method of accounting. We classified the results of National Beef prior to June 5, 2018 as discontinued operations in the Consolidated Statements of Operations. See Note 24 for more information.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We own approximately </font><font style="font-family:inherit;font-size:10pt;">15%</font><font style="font-family:inherit;font-size:10pt;"> of Spectrum Brands, a publicly traded global consumer products company on the NYSE (NYSE: SPB), and we reflect this investment at fair value based on quoted market prices. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We own approximately </font><font style="font-family:inherit;font-size:10pt;">42%</font><font style="font-family:inherit;font-size:10pt;"> of the common shares of Linkem, as well as convertible preferred shares which, if converted, would increase our ownership to approximately </font><font style="font-family:inherit;font-size:10pt;">54%</font><font style="font-family:inherit;font-size:10pt;"> of Linkem's common equity at </font><font style="font-family:inherit;font-size:10pt;">February&#160;28, 2019</font><font style="font-family:inherit;font-size:10pt;">.&#160;Linkem provides residential broadband services in Italy using LTE technologies deployed over the 3.5 GHz spectrum band. Linkem is accounted for under the equity method. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vitesse Energy Finance is our </font><font style="font-family:inherit;font-size:10pt;">97%</font><font style="font-family:inherit;font-size:10pt;"> owned consolidated subsidiary that acquires and invests in non-operated working interests and royalties predominantly in the Bakken Shale oil field in North Dakota. JETX Energy is our </font><font style="font-family:inherit;font-size:10pt;">98%</font><font style="font-family:inherit;font-size:10pt;"> owned consolidated subsidiary that currently has non-operated working interests and acreage in east Texas.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We invested </font><font style="font-family:inherit;font-size:10pt;">$9.0 million</font><font style="font-family:inherit;font-size:10pt;"> in 2013 in WeWork, which creates collaborative office communities. Currently we own less than </font><font style="font-family:inherit;font-size:10pt;">1%</font><font style="font-family:inherit;font-size:10pt;"> of the company. Our interest in WeWork is reflected in Trading assets in our financial statements at fair value. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We own an approximate </font><font style="font-family:inherit;font-size:10pt;">70%</font><font style="font-family:inherit;font-size:10pt;"> equity interest of HomeFed, which owns and develops residential and mixed use real estate properties.&#160;We account for our interest under the equity method. HomeFed is a public company traded on the Over-the-Counter Bulletin Board. During the first quarter of 2019, we proposed to acquire the remaining common stock of HomeFed (the "Proposed Transaction"). The Proposed Transaction would entail issuing </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> shares of our common stock for each share of HomeFed&#8217;s common stock. The proposal includes a condition that the Proposed Transaction will require the approval of a majority of the outstanding shares of HomeFed&#8217;s common stock not already owned by us (or our affiliates), in addition to approval of HomeFed's board of directors upon the recommendation of a special committee of independent directors and any other vote required by applicable law. As an offset to these potentially issued shares, our Board of Directors has, conditioned on the closing of the Proposed Transaction, authorized the repurchase of these shares in the open market. This share-repurchase approval is incremental to the </font><font style="font-family:inherit;font-size:10pt;">$500.0 million</font><font style="font-family:inherit;font-size:10pt;"> share repurchase previously approved by our Board of Directors, approximately </font><font style="font-family:inherit;font-size:10pt;">$305.3 million</font><font style="font-family:inherit;font-size:10pt;"> of which remains to be purchased as of </font><font style="font-family:inherit;font-size:10pt;">February&#160;28, 2019</font><font style="font-family:inherit;font-size:10pt;">. The Proposed Transaction is currently being evaluated by a special committee of independent directors of HomeFed.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Idaho Timber is our consolidated subsidiary engaged in the manufacture and distribution of various wood products.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our investment in FXCM and associated companies consists of a senior secured term loan due in the second quarter of 2019, (</font><font style="font-family:inherit;font-size:10pt;">$71.4 million</font><font style="font-family:inherit;font-size:10pt;"> principal outstanding at </font><font style="font-family:inherit;font-size:10pt;">February&#160;28, 2019</font><font style="font-family:inherit;font-size:10pt;">); a </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> voting interest in FXCM and the right to receive up to </font><font style="font-family:inherit;font-size:10pt;">75%</font><font style="font-family:inherit;font-size:10pt;"> of all distributions in respect of the equity of FXCM.</font></div></div>

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