# Jefferies Financial Group Inc. (JEF) FY2026 YTD Q3 Statement of Cash Flows

- Company: Jefferies Financial Group Inc. (JEF)
- Period: 2025-12-01 to 2026-08-31
- Filing: Q3 FY2026 10-Q, filed 2026-10-09, accession number 0000096223-26-000033
- Page: https://plicit.ai/financials/jef/fy2026-ytd-q3-cash-flow
- Chart image: https://plicit.ai/charts/jef-fy2026-ytd-q3-cash-flow-sankey.png

## Chart details

Cash flows for Dec 1, 2025 through Aug 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Nov 30, 2025. Ending cash: Aug 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on Nov 30, 2025**: 14,961,586,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- **Operating activities**: 2,453,506,000 US dollars. Net cash provided.
- **Net earnings**: 697,577,000 US dollars
- **Depreciation and amortization**: 128,699,000 US dollars
- **Impairment of assets**: 65,413,000 US dollars
- **Share-based compensation**: 95,767,000 US dollars
- **Net bad debt expense**: 30,583,000 US dollars
- **Income on investments in and loans to related parties**: negative 99,082,000 US dollars
- **Distributions received on investments in related parties**: 52,400,000 US dollars
- **Loss on assets held for sale**: 0 US dollars
- **Other adjustments**: 47,095,000 US dollars
- **Brokers, dealers and clearing organizations**: 1,210,771,000 US dollars
- **Customers**: negative 976,898,000 US dollars
- **Fees, interest and other**: negative 116,742,000 US dollars
- **Securities borrowed**: negative 2,867,877,000 US dollars
- **Financial instruments owned**: 416,562,000 US dollars
- **Securities purchased under agreements to resell**: 597,100,000 US dollars
- **Other assets**: negative 95,054,000 US dollars
- **Brokers, dealers and clearing organizations**: negative 1,769,291,000 US dollars
- **Customers**: 958,673,000 US dollars
- **Securities loaned**: 1,486,559,000 US dollars
- **Financial instruments sold, not yet purchased**: 1,792,713,000 US dollars
- **Securities sold under agreements to repurchase**: 771,786,000 US dollars
- **Lease liabilities**: negative 58,788,000 US dollars
- **Accrued expenses and other liabilities**: 85,540,000 US dollars
- **Investing activities**: negative 359,668,000 US dollars. Net cash used.
- **Contributions to investments in and loans to related parties**: negative 766,395,000 US dollars
- **Capital distributions from investments and repayments of loans from related parties**: 593,556,000 US dollars
- **Originations and purchases of loans, notes and other receivables**: negative 24,782,000 US dollars
- **Principal collections of loans, notes and other receivables**: 156,000 US dollars
- **Net payments on premises and equipment**: negative 162,203,000 US dollars
- **Proceeds from assets held for sale**: 0 US dollars
- **Financing activities**: 1,029,665,000 US dollars. Net cash provided.
- **Proceeds from short-term borrowings**: 5,211,712,000 US dollars
- **Payments on short-term borrowings**: negative 5,497,779,000 US dollars
- **Proceeds from issuance of long-term debt, net of issuance costs**: 6,968,788,000 US dollars
- **Repayment of long-term debt**: negative 4,397,648,000 US dollars
- **Purchase of common shares for treasury**: negative 439,932,000 US dollars
- **Dividends paid to common and preferred shareholders**: negative 276,460,000 US dollars
- **Net proceeds from (payments on) other secured financings**: negative 539,583,000 US dollars
- **Net change in bank overdrafts**: negative 10,278,000 US dollars
- **Proceeds from contributions of noncontrolling interests**: 981,000 US dollars
- **Payments on distributions to noncontrolling interests**: negative 7,606,000 US dollars
- **Other**: 17,470,000 US dollars
- **Operating adjustment reconciliation**: 7,739,661,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 12,198,951,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 953,380,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: negative 2,566,000 US dollars
- **Difference in the filed cash totals (calculated)**: negative 20,985,000 US dollars. Out of cash; drawn as the small gray flow above ending cash.
- **Ending cash on Aug 31, 2026**: 18,061,538,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- **Cash sources and uses**: 18,444,757,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: 3,099,952,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: 3.52×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- **Operating cash flow**: 2,453,506,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **Cash purchases of property, plant and equipment**: 162,203,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: 2,291,303,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.76B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- The filer's reported cash figures differ by $20.99 M: its ending cash less its beginning cash does not equal its reported net change in cash. The chart shows the difference as its own calculated flow; no reported amount has been adjusted.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,453,506,000 US dollars minus 162,203,000 US dollars equals 2,291,303,000 US dollars.
- The filer's reported cash figures differ by $20.99 M: its ending cash less its beginning cash does not equal its reported net change in cash. The chart shows the difference as its own calculated flow; no reported amount has been adjusted.