Jefferies Financial (JEF) 10-Q 7 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 23, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Current Fiscal Year End Date	'--12-31	'
Entity Central Index Key	'0000096223	'
Entity Registrant Name	'LEUCADIA NATIONAL CORP	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	368,530,798

Consolidated_Statements_Of_Fin

Consolidated Statements Of Financial Condition (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'		'
Cash and cash equivalents	$4,186,725		$3,907,595
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	3,288,517	[1]	3,616,602	[1]
Financial instruments owned, including securities pledged of $13,994,936 and $13,253,537:	'		'
Trading assets, at fair value	17,942,865		16,699,542
Available for sale securities	1,944,480		2,866,143
Total financial instruments owned	19,887,345		19,565,685
Investments in managed funds	251,188		57,285
Loans to and investments in associated companies	1,295,866		1,258,341
Securities borrowed	6,097,098		5,359,846
Securities purchased under agreements to resell	4,609,422		3,746,920
Securities received as collateral	126,106		11,063
Receivables from brokers, dealers and clearing organizations	2,601,721		2,180,996
Receivables from customers of securities operations	1,805,451		1,046,945
Property, equipment and leasehold improvements, net	936,923		885,859
Intangible assets, net	999,240		1,020,529
Goodwill	1,750,870		1,748,099
Deferred tax asset, net	1,742,268		1,809,943
Other assets	1,828,995		1,651,073
Total	51,407,735		47,866,781
LIABILITIES	'		'
Short-term borrowings	12,000		12,000
Trading liabilities, at fair value	8,172,300		7,293,102
Securities loaned	2,901,159		2,506,122
Securities sold under agreements to repurchase	11,668,130		10,779,845
Other secured financings	240,288		234,711
Obligation to return securities received as collateral	126,106		11,063
Payables to brokers, dealers and clearing organizations	1,477,030		1,379,243
Payables to customers of securities operations	5,623,278		5,208,768
Trade payables, expense accruals and other liabilities	1,660,870		1,721,934
Long-term debt	8,798,056		8,180,865
Total liabilities	40,679,217		37,327,653
Commitments and contingencies	'		'
MEZZANINE EQUITY	'		'
Redeemable noncontrolling interests	239,794		241,075
Mandatorily redeemable convertible preferred shares	125,000		125,000
EQUITY	'		'
Common shares, par value $1 per share, authorized 600,000,000 shares; 368,536,178 and 364,541,333 shares issued and outstanding, after deducting 47,351,497 and 46,695,470 shares held in treasury	368,536		364,541
Additional paid-in capital	4,990,102		4,881,031
Accumulated other comprehensive income	561,305		538,050
Retained earnings	4,430,738		4,318,840
Total Leucadia National Corporation shareholders' equity	10,350,681		10,102,462
Noncontrolling interest	13,043		70,591
Total equity	10,363,724		10,173,053
Total	51,407,735		47,866,781
Parent Company [Member]	'		'
LIABILITIES	'		'
Long-term debt	1,444,430		1,541,014
Subsidiaries [Member]	'		'
LIABILITIES	'		'
Long-term debt	$7,353,626		$6,639,851
[1]	Securities comprise U.S. government securities segregated for regulatory purposes with a fair value of $564.7 million and $304.2 million at June 30, 2014 and December 31, 2013, respectively.

Consolidated_Statements_Of_Fin1

Consolidated Statements Of Financial Condition (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
ASSETS	'	'
Securities pledged	$13,994,936	$13,253,537
EQUITY	'	'
Common shares, par value	$1	$1
Common shares, authorized (actual number)	600,000,000	600,000,000
Common shares, issued and outstanding after deducting shares held in treasury (actual number)	368,536,178	364,541,333
Treasury stock, shares (actual number)	47,351,497	46,695,470

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Beef processing services	$2,003,612	$1,920,004	$3,889,366	$3,708,817
Commissions	167,378	146,848	329,441	146,848
Principal transactions	175,734	141,680	456,788	324,399
Investment banking	331,149	277,134	745,469	277,134
Interest income	291,012	264,706	548,672	270,402
Net realized securities gains	11,661	9,500	17,055	239,391
Other	117,287	125,443	250,909	215,937
Total revenues	3,097,833	2,885,315	6,237,700	5,182,928
Net revenues	2,852,054	2,675,725	5,795,368	4,973,338
Expenses:	'	'	'	'
Cost of sales	2,041,331	1,921,651	3,987,006	3,752,114
Compensation and benefits	424,167	409,378	990,004	449,745
Floor brokerage and clearing fees	54,073	32,991	103,643	32,991
Interest	29,144	21,208	57,720	42,527
Depreciation and amortization	44,643	45,977	86,130	73,475
Selling, general and other expenses	187,418	195,574	379,842	250,425
Total expenses	2,780,776	2,626,779	5,604,345	4,601,277
Income from continuing operations before income taxes and income related to associated companies	71,278	48,946	191,023	372,061
Income related to associated companies	35,345	34,863	55,381	65,671
Income from continuing operations before income taxes	106,623	83,809	246,404	437,732
Income tax provision	43,775	23,235	93,965	73,002
Income from continuing operations	62,848	60,574	152,439	364,730
Income (loss) from discontinued operations, net of income tax provision (benefit) of $1,670, $(1,217), $2,934 and $(3,042)	3,102	-2,423	5,448	-5,965
Gain on disposal of discontinued operations, net of income tax provision of $0, $207, $0 and $32	500	385	500	60
Net income	66,450	58,536	158,387	358,825
Net (income) loss attributable to the noncontrolling interest	912	729	-1,625	1,351
Net (income) loss attributable to the redeemable noncontrolling interests	-1,273	-5,638	4,659	-1,107
Preferred stock dividends	-1,015	-1,015	-2,031	-1,354
Net income attributable to Leucadia National Corporation common shareholders	65,074	52,612	159,390	357,715
Basic earnings (loss) per common share attributable to Leucadia National Corporation common shareholders:	'	'	'	'
Income from continuing operations	$0.16	$0.14	$0.40	$1.14
Income (loss) from discontinued operations	$0.01	$0	$0.02	($0.02)
Gain on disposal of discontinued operations	$0	$0	$0	$0
Net income	$0.17	$0.14	$0.42	$1.12
Diluted earnings (loss) per common share attributable to Leucadia National Corporation common shareholders:	'	'	'	'
Income from continuing operations	$0.16	$0.14	$0.40	$1.12
Income (loss) from discontinued operations	$0.01	$0	$0.02	($0.02)
Gain on disposal of discontinued operations	$0	$0	$0	$0
Net income	$0.17	$0.14	$0.42	$1.10
Amounts attributable to Leucadia National Corporation common shareholders:	'	'	'	'
Income from continuing operations, net of taxes	61,469	54,405	153,419	363,110
Income (loss) from discontinued operations, net of taxes	3,105	-2,178	5,471	-5,455
Gain on disposal of discontinued operations, net of taxes	500	385	500	60
Net income attributable to Leucadia National Corporation common shareholders	65,074	52,612	159,390	357,715
Investment Banking And Capital Markets Segment [Member]	'	'	'	'
Expenses:	'	'	'	'
Interest	$245,779	$209,590	$442,332	$209,590

Consolidated_Statements_Of_Ope1

Consolidated Statements Of Operations (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consolidated Statements Of Operations [Abstract]	'	'	'	'
Income tax provision (benefit) related to discontinued operations	$1,670	($1,217)	$2,934	($3,042)
Income tax provision (benefit) related to discontinued operations	$0	$207	$0	$32

Consolidated_Statements_Of_Com

Consolidated Statements Of Comprehensive Income (Loss) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]	'	'	'	'
Net income	$66,450	$58,536	$158,387	$358,825
Other comprehensive income (loss):	'	'	'	'
Net unrealized holding gains (losses) on investments arising during the period, net of income tax provision (benefit) of $(759), $(28,124), $1,634 and $(23,788)	-1,367	-50,653	2,943	-42,844
Less: reclassification adjustment for net (gains) losses included in net income (loss), net of income tax provision (benefit) of $(950), $3,027, $(1,438) and $117,170	1,712	-5,453	2,590	-211,037
Net change in unrealized holding gains (losses) on investments, net of income tax provision (benefit) of $191, $(31,151), $3,072 and $(140,958)	345	-56,106	5,533	-253,881
Net unrealized foreign exchange gains (losses) arising during the period, net of income tax provision (benefit) of $(119), $258, $(57) and $(680)	2,643	-11,003	16,540	-12,692
Less: reclassification adjustment for foreign exchange (gains) losses included in net income (loss), net of income tax provision (benefit) of $0, $0, $0 and $0	'	'	'	'
Net change in unrealized foreign exchange gains (losses), net of income tax provision (benefit) of $(119), $258, $(57) and $(680)	2,643	-11,003	16,540	-12,692
Net unrealized gains (losses) on derivatives arising during the period, net of income tax provision (benefit) of $(279), $(6), $(187) and $(4)	-503	-11	-338	-6
Less: reclassification adjustment for derivative (gains) losses included in net income (loss), net of income tax provision (benefit) of $0, $0, $0 and $0	'	'	'	'
Net change in unrealized derivative gains (losses), net of income tax provision (benefit) of $(279), $(6), $(187) and $(4)	-503	-11	-338	-6
Net pension and postretirement gains (losses) arising during the period, net of income tax provision (benefit) of $0, $0, $0 and $0	'	'	'	'
Less: reclassification adjustment for pension and postretirement (gains) losses included in net income (loss), net of income tax provision (benefit) of $(422), $(666), $(844) and $(1,332)	760	1,200	1,520	2,400
Net change in pension liability and postretirement benefits, net of income tax provision (benefit) of $422, $666, $844 and $1,332	760	1,200	1,520	2,400
Other comprehensive income (loss), net of income taxes	3,245	-65,920	23,255	-264,179
Comprehensive income (loss)	69,695	-7,384	181,642	94,646
Comprehensive (income) loss attributable to the noncontrolling interest	912	729	-1,625	1,351
Comprehensive (income) loss attributable to the redeemable noncontrolling interests	-1,273	-5,638	4,659	-1,107
Preferred stock dividends	-1,015	-1,015	-2,031	-1,354
Comprehensive income (loss) attributable to Leucadia National Corporation common shareholders	$68,319	($13,308)	$182,645	$93,536

Consolidated_Statements_Of_Com1

Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]	'	'	'	'
Net unrealized holding gains (losses) on investments arising during the period, tax provision (benefit)	($759)	($28,124)	$1,634	($23,788)
Less: reclassification adjustment for net (gains) losses included in net income (loss), tax provision (benefit)	-950	3,027	-1,438	117,170
Net change in unrealized holding gains (losses) on investments, tax provision (benefit)	191	-31,151	3,072	-140,958
Net unrealized foreign exchange gains (losses) arising during the period, tax provision (benefit)	-119	258	-57	-680
Less: reclassification adjustment for foreign exchange (gains) losses included in net income (loss), tax provision (benefit)	0	0	0	0
Net change in unrealized foreign exchange gains (losses), tax provision (benefit)	-119	258	-57	-680
Net unrealized gains (losses) on derivatives arising during the period, tax provision (benefit)	-279	-6	-187	-4
Less: reclassification adjustment for derivative (gains) losses included in net income (loss), tax provision (benefit)	0	0	0	0
Net change in unrealized derivative gains (losses), tax provision (benefit)	-279	-6	-187	-4
Net pension and postretirement gains (losses) arising during the period, tax provision (benefit)	0	0	0	0
Less: reclassification adjustment for pension and postretirement (gains) losses included in net income (loss), tax provision (benefit)	-422	-666	-844	-1,332
Net change in pension liability and postretirement benefits, tax provision (benefit)	$422	$666	$844	$1,332

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Net cash flows from operating activities:	'	'
Net income	$158,387	$358,825
Adjustments to reconcile net income to net cash provided by (used for) operations:	'	'
Deferred income tax provision	64,313	58,673
Depreciation and amortization of property, equipment and leasehold improvements	61,312	50,587
Other amortization	-2,461	19,624
Share-based compensation	62,778	32,443
Provision for doubtful accounts	6,570	6,380
Net securities gains	-17,055	-239,391
Income related to associated companies	-93,273	-94,211
Distributions from associated companies	83,058	59,130
Net (gains) losses related to real estate, property and equipment, and other assets	-1,643	4,780
Gain on disposal of discontinued operations	-500	-92
Net change in:	'	'
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	329,559	671,426
Trading assets	-1,468,688	933,964
Investments in managed funds	-49,965	4,835
Securities borrowed	-732,449	-47,036
Securities purchased under agreements to resell	-852,859	106,129
Receivables from brokers, dealers and clearing organizations	-466,846	-845,322
Receivables from customers of securities operations	-756,884	-144,938
Other assets	-213,619	-90,696
Trading liabilities	1,071,678	-2,979,532
Securities loaned	390,165	780,579
Securities sold under agreements to repurchase	878,120	1,521,605
Payables to brokers, dealers and clearing organizations	192,375	205,037
Payables to customers of securities operations	406,233	-18,807
Trade payables, expense accruals and other liabilities	-158,058	95,643
Other	-2,434	-2,119
Net cash provided by (used for) operating activities	-1,112,186	447,516
Net cash flows from investing activities:	'	'
Acquisitions of property, equipment and leasehold improvements, and other assets	-165,817	-54,332
Acquisitions of and capital expenditures for real estate investments	-1,285	-15,993
Proceeds from disposals of real estate, property and equipment, and other assets	7,376	18,646
Net change in restricted cash	5,000	86
Proceeds from disposal of discontinued operations, net of expenses and cash of operations sold	'	3,054
Cash acquired upon acquisition of Jefferies Group LLC	'	3,017,958
Acquisitions, net of cash acquired	-22,463	'
Cash paid and cash of real estate operations sold to HomeFed Corporation	-18,067	'
Advances on notes and other receivables	'	-1,907
Collections on notes, loans and other receivables	9,789	11,470
Loans to and investments in associated companies	-947,200	-423,059
Capital distributions and loan repayment from associated companies	1,135,636	669,237
Deconsolidation of asset management entities	-207,965	'
Purchases of investments (other than short-term)	-974,193	-1,637,333
Proceeds from maturities of investments	655,224	1,071,261
Proceeds from sales of investments	1,251,122	1,097,596
Other	-646	670
Net cash provided by investing activities	726,511	3,757,354
Net cash flows from financing activities:	'	'
Issuance of debt, net of issuance costs	909,709	88,947
Change in short-term borrowings	'	-100,000
Reduction of debt	-167,857	-483,357
Net proceeds from other secured financings	5,577	105,000
Issuance of common shares	1,056	578
Cash and cash equivalents of Crimson Wine Group, Ltd. which was spun off	'	-21,042
Net distributions to redeemable noncontrolling interests	'	-6,682
Distributions to noncontrolling interests	-1,464	-312,450
Contributions from noncontrolling interests	9,084	3,091
Purchase of common shares for treasury	-51,050	-23,517
Dividends paid	-46,488	-45,191
Other	1,364	1,796
Net cash provided by (used for) financing activities	659,931	-792,827
Effect of foreign exchange rate changes on cash	4,874	-4,358
Net increase in cash and cash equivalents	279,130	3,407,685
Cash and cash equivalents at January 1, including cash classified as assets of discontinued operations	3,907,595	145,960
Cash and cash equivalents at June 30, including cash classified as assets of discontinued operations	4,186,725	3,553,645
Supplemental disclosures of cash flow information:	'	'
Interest	517,407	238,765
Income tax payments (refunds), net	8,451	6,100
Non-cash investing activities:	'	'
Common stock issued for acquisition of Jefferies Group LLC	'	3,376,939
Issuance of mandatorily redeemable convertible preferred shares for acquisition of Jefferies Group LLC	'	125,000
Non-cash financing activities:	'	'
Net assets excluding cash and cash equivalents of Crimson Wine Group, Ltd., which was spun off	'	175,958
Issuance of common shares for debt conversion	$97,546	'

Consolidated_Statements_Of_Cha

Consolidated Statements Of Changes In Equity (USD $)	Common Shares $1 Par Value [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Subtotal [Member]	Noncontrolling Interest [Member]	Total
In Thousands
Balance, at Dec. 31, 2012	$244,583	$1,577,528	$705,129	$4,240,028	$6,767,268	$367	$6,767,635
Net income	'	'	'	357,715	357,715	-1,351	356,364
Other comprehensive income (loss), net of taxes	'	'	-264,179	'	-264,179	'	-264,179
Acquisition of Jefferies Group LLC	119,363	3,257,576	'	'	3,376,939	356,180	3,733,119
Distribution of common shares of Crimson Wine Group, Ltd. to shareholders	'	'	'	-197,000	-197,000	'	-197,000
Contributions from noncontrolling interests	'	'	'	'	'	3,091	3,091
Distributions to noncontrolling interests	'	'	'	'	'	-353,249	-353,249
Change in interest in consolidated subsidiary	'	-4,422	'	'	-4,422	4,422	'
Change in fair value of redeemable noncontrolling interests	'	22,434	'	'	22,434	'	22,434
Exercise of options to purchase common shares, including excess tax benefit	5	114	'	'	119	'	119
Purchase of common shares for treasury	-828	-22,689	'	'	-23,517	'	-23,517
Share-based compensation expense	'	32,443	'	'	32,443	'	32,443
Dividends ($.125 per common share)	'	'	'	-46,499	-46,499	'	-46,499
Other	1,255	1,051	'	'	2,306	'	2,306
Balance, at Jun. 30, 2013	364,378	4,864,035	440,950	4,354,244	10,023,607	9,460	10,033,067
Balance, at Dec. 31, 2013	364,541	4,881,031	538,050	4,318,840	10,102,462	70,591	10,173,053
Net income	'	'	'	159,390	159,390	1,625	161,015
Other comprehensive income (loss), net of taxes	'	'	23,255	'	23,255	'	23,255
Contributions from noncontrolling interests	'	'	'	'	'	19,766	19,766
Distributions to noncontrolling interests	'	'	'	'	'	-1,464	-1,464
Deconsolidation of asset management entities	'	'	'	'	'	-77,475	-77,475
Change in fair value of redeemable noncontrolling interests	'	-1,013	'	'	-1,013	'	-1,013
Exercise of options to purchase common shares, including excess tax benefit	7	155	'	'	162	'	162
Purchase of common shares for treasury	-1,880	-49,170	'	'	-51,050	'	-51,050
Share-based compensation expense	'	62,778	'	'	62,778	'	62,778
Issuance of common shares for debt conversion	4,606	92,940	'	'	97,546	'	97,546
Dividends ($.125 per common share)	'	'	'	-47,492	-47,492	'	-47,492
Other	1,262	3,381	'	'	4,643	'	4,643
Balance, at Jun. 30, 2014	$368,536	$4,990,102	$561,305	$4,430,738	$10,350,681	$13,043	$10,363,724

Consolidated_Statements_Of_Cha1

Consolidated Statements Of Changes In Equity (Parenthetical) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Consolidated Statements Of Changes In Equity [Abstract]	'	'
Dividends per common share	$0.13	$0.13

Nature_Of_Operations

Nature Of Operations	6 Months Ended
	Jun. 30, 2014
Nature Of Operations [Abstract]	'
Nature Of Operations	'
	1. Nature of Operations
	Leucadia National Corporation ("Leucadia" or the "Company") is a diversified holding company engaged through its consolidated subsidiaries in a variety of businesses, including investment banking and capital markets (Jefferies Group), beef processing (National Beef Packing Company), manufacturing (Conwed Plastics and Idaho Timber), oil and gas exploration and production (Juneau Energy and Vitesse Energy), energy projects (Lake Charles Clean Energy and Oregon LNG) and asset management (Leucadia Asset Management). We also own equity interests in businesses which are not consolidated, including Berkadia Commercial Mortgage LLC, (commercial mortgage banking and servicing), Garcadia, (automobile dealerships), HomeFed Corporation (real estate), Linkem S.p.A. (wireless broadband services provider in Italy) and Harbinger Group Inc. (diversified holding company). We continuously review and consider new and add-on acquisitions and investments in businesses, securities and assets. Changes in the scale and mix of our businesses and investments should be expected.
	On March 1, 2013, Jefferies Group LLC ("Jefferies") became our largest wholly-owned subsidiary. Jefferies is a global full-service, integrated securities and investment banking firm. Jefferies shareholders received 0.81 of a share of our common shares for each share of Jefferies common stock they held (the "Exchange Ratio"). Prior to the closing, we owned 58,006,024 common shares of Jefferies, representing approximately 28% of the then outstanding common shares of Jefferies. Richard Handler, Chairman and Chief Executive Officer of Jefferies, was appointed the Chief Executive Officer and a Director of Leucadia, and Brian Friedman, the Chairman of the Executive Committee of Jefferies, was appointed President and a Director of Leucadia.
	Jefferies has a November 30th fiscal year, which it retains for standalone reporting purposes. We reflect Jefferies in our consolidated financial statements utilizing a one month lag. We have reviewed Jefferies business and internal operating results for the month of June 2014 for the purpose of evaluating whether additional financial statement disclosure or adjustments are required to this Quarterly Report on Form 10-Q, and have concluded that no additional disclosures or adjustments are warranted.
	We own 78.9% of National Beef Packing Company. National Beef processes, packages and delivers fresh and frozen beef and beef by-products for sale to customers in the U.S. and international markets. National Beef operates two beef processing facilities, three consumer-ready facilities and a wet blue tanning facility, all located in the U.S. National Beef's products include boxed beef, ground beef, hides, tallow, and other beef and beef by-products. National Beef operates the largest wet blue tanning facility in the world that sells processed hides to tanners that produce finished leather for the automotive, luxury goods, apparel and furniture industries. National Beef owns Kansas City Steak Company, LLC, which sells portioned beef and other products to customers in the food service and retail channels as well as direct to consumers through the internet and direct mail. National Beef also owns a refrigerated and livestock transportation company that provides transportation services for National Beef and third parties.
	Idaho Timber is engaged in the manufacture and/or distribution of various wood products, including the following principal product lines: remanufacturing dimension lumber; remanufacturing, bundling and bar coding of home center boards for large retailers; and production of 5/4" radius-edge, pine decking. Idaho Timber operates ten facilities located in the U.S.
	Conwed Plastics manufactures and markets lightweight plastic netting used for building and construction, erosion control, packaging, agricultural purposes, carpet padding, filtration and consumer products and other purposes. In March 2014, Conwed Plastics acquired 80% of Filtrexx International, LLC. Filtrexx markets a knitted sock product, which is used in the sediment control, agriculture and landscape markets, primarily in the U.S. Conwed Plastics has four domestic manufacturing facilities, and it owns and operates a manufacturing and sales facility in Belgium.
	Juneau Energy, LLC, a recently formed subsidiary, engages in the exploration, development and production of oil and gas from onshore, unconventional resource areas. Juneau currently has interests in acreage in the Oklahoma and Texas Gulf Coast regions. Vitesse Energy, LLC, a recently formed subsidiary, is engaged in the acquisition and development of non-operated working and royalty oil and gas interests in the Bakken Shale oil field located in North Dakota.
	Berkadia, our 50–50 joint venture with Berkshire Hathaway, originates and brokers commercial real estate loans under various programs and services commercial real estate loans in the U.S.
	Garcadia is a joint venture that owns and operates 22 automobile dealerships in the U.S.
	We own 64% of HomeFed, which invests in and develops real estate projects. HomeFed is a public company traded on the NASD OTC Bulletin Board. In March 2014, we sold substantially all of our real estate operations to HomeFed; see Notes 11 and 26 for more information.
	We own 40.2% of the common shares of Linkem and a convertible note; if converted, we would own approximately 53% of Linkem's common equity. Linkem provides residential broadband services using Wimax and LTE technologies deployed over the 3.5 GHz spectrum band. Linkem operates in Italy, which has few cable television systems and poor broadband alternatives.
	We own approximately 20% of Harbinger, a diversified holding company that operates in four business segments: consumer products, insurance, energy and asset management. Harbinger is a public company traded on the NYSE.
	On February 25, 2013, we distributed to our shareholders the common shares of the Crimson Wine Group, Ltd., a holding company through which we historically conducted our winery operations. The distribution was structured to qualify as a tax-free spin-off for U.S. federal income tax purposes. Our common shareholders on the record date received one share of Crimson common stock for every ten common shares of Leucadia, with cash in lieu of fractional shares. The distribution was a condition to the Jefferies acquisition. As a result, we recorded a dividend of $197.0 million. Crimson was not reflected as a discontinued operation in our consolidated financial statements as amounts were not significant. Crimson's historical results of operations are included in the other operations segment.
	Certain amounts have been reclassified to be consistent with the 2014 presentation.

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Significant Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	Note 2. Significant Accounting Policies
	The unaudited interim consolidated financial statements, which reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes necessary to fairly state results of interim operations, should be read in conjunction with the notes to our consolidated financial statements included in our audited consolidated financial statements for the year ended December 31, 2013, which are included in our Annual Report filed on Form 10-K for such year (the "2013 10-K"). Results of operations for interim periods are not necessarily indicative of annual results of operations. The Consolidated Statement of Financial Condition at December 31, 2013 was extracted from the audited annual financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for annual financial statements.
	The preparation of these financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the reported amounts in the financial statements and disclosures of contingent assets and liabilities. On an on-going basis, we evaluate all of these estimates and assumptions. The most important of these estimates and assumptions relate to fair value measurements, compensation and benefits, asset impairment, the ability to realize deferred tax assets, the recognition and measurement of uncertain tax positions and contingencies. Although these and other estimates and assumptions are based on the best available information, actual results could be different from these estimates.
	Consolidation
	Our policy is to consolidate all entities in which we can vote a majority of the outstanding voting stock. In addition, we consolidate entities which meet the definition of a variable interest entity for which we are the primary beneficiary. The primary beneficiary is the party who has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. We consider special allocations of cash flows and preferences, if any, to determine amounts allocable to noncontrolling interests. All intercompany transactions and balances are eliminated in consolidation.
	In situations where we have significant influence, but not control, of an entity that does not qualify as a variable interest entity, we apply either the equity method of accounting or fair value accounting pursuant to the fair value option election under GAAP. We have also formed nonconsolidated investment vehicles with third-party investors that are typically organized as partnerships or limited liability companies and are carried at fair value. Our subsidiaries may act as general partner or managing member for these investment vehicles and have generally provided the third-party investors with termination or "kick-out" rights.
	Revenue Recognition Policies
	Beef Processing and Other Operations
	Revenues are recognized when the following conditions are met: (1) collectibility is reasonably assured; (2) title to the product has passed or the service has been rendered and earned; (3) persuasive evidence of an arrangement exists; and (4) there is a fixed or determinable price. National Beef's revenues are recognized based on the terms of the sale, which for beef processing operations is typically upon delivery to customers. Manufacturing revenues are recognized when title passes.
	Investment Banking Activities
	Commissions. All customer securities transactions are reported in the Consolidated Statements of Financial Condition on a settlement date basis with related income reported on a trade date basis. We permit institutional customers to allocate a portion of their gross commissions to pay for research products and other services provided by third parties. The amounts allocated for those purposes are commonly referred to as soft dollar arrangements. These arrangements are accounted for on an accrual basis and, as we are not the primary obligor for these arrangements, netted against commission revenues in the Consolidated Statements of Operations. The commissions and related expenses on client transactions executed by Jefferies Bache, LLC, a futures commission merchant, are recorded on a half-turn basis.
	Principal Transactions. Trading assets and trading liabilities are carried at fair value with gains and losses reflected in Principal transactions in the Consolidated Statements of Operations on a trade date basis. Fees received on loans carried at fair value are also recorded within Principal transactions.
	Investment Banking. Underwriting revenues and fees from mergers and acquisitions, restructuring and other investment banking advisory assignments or engagements are recorded when the services related to the underlying transactions are completed under the terms of the assignment or engagement. Expenses associated with such assignments are deferred until reimbursed by the client, the related revenue is recognized or the engagement is otherwise concluded. Expenses are recorded net of client reimbursements and netted against revenues. Unreimbursed expenses with no related revenues are included in Selling, general and administrative expenses in the Consolidated Statements of Operations.
	Interest Revenue and Expense. Interest expense that is deducted from Revenues to arrive at Net revenues is related to Jefferies operations. Contractual interest on Trading assets and Trading liabilities is recognized on an accrual basis as a component of Interest income and Interest expense. Interest flows on derivative trading transactions and dividends are included as part of the fair valuation of these contracts and recognized in Principal transactions in the Consolidated Statements of Operations rather than as a component of interest income or expense. Discounts/premiums arising on long-term debt are accreted/amortized to Interest expense using the effective yield method over the remaining lives of the underlying debt obligations.
	Cash Equivalents
	Cash equivalents include highly liquid investments, including certificates of deposit and money market funds, not held for resale with original maturities of three months or less.
	Cash and Securities Segregated and on Deposit for Regulatory Purposes or Deposited With Clearing and Depository Organizations
	In accordance with Rule 15c3-3 of the Securities Exchange Act of 1934, Jefferies LLC as a broker-dealer carrying client accounts, is subject to requirements related to maintaining cash or qualified securities in a segregated reserve account for the exclusive benefit of its clients. In addition, certain financial instruments used for initial and variation margin purposes with clearing and depository organizations are recorded in this caption. Jefferies Bache, LLC, as a futures commission merchant, is obligated by rules mandated by the Commodities Futures Trading Commission under the Commodities Exchange Act, to segregate or set aside cash or qualified securities to satisfy such regulations, which regulations have been promulgated to protect customer assets. Certain other entities are also obligated by rules mandated by their primary regulators to segregate or set aside cash or equivalent securities to satisfy regulations, promulgated to protect customer assets.
	Financial Instruments
	Trading assets and trading liabilities are recorded at fair value, either as required by accounting pronouncements or through the fair value option election. Trading assets and trading liabilities include Jefferies trading activities, financial instruments of other consolidated entities that are accounted for through the fair value option election and, prior to the Jefferies acquisition, trading assets include our investment in Jefferies common shares. Gains and losses on trading assets and trading liabilities are recognized in our Consolidated Statements of Operations in Principal transactions. Available for sales securities are reflected at fair value, with unrealized gains and losses reflected as a separate component of equity, net of taxes. When sold, realized gains and losses on available for sale securities are reflected in the caption Net realized securities gains. The cost of securities sold is based on average cost. Fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price).
	Fair Value Hierarchy
	In determining fair value, we maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs reflect our assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. We apply a hierarchy to categorize our fair value measurements broken down into three levels based on the transparency of inputs as follows:
	Level 1: Quoted prices are available in active markets for identical assets or liabilities as of the reported date.
	Level 2: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these financial instruments include cash instruments for which quoted prices are available but traded less frequently, derivative instruments whose fair value have been derived using a model where inputs to the model are directly observable in the market, or can be derived principally from or corroborated by observable market data, and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed.
	Level 3: Instruments that have little to no pricing observability as of the reported date. These financial instruments are measured using management's best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.
	Financial instruments are valued at quoted market prices, if available. Certain financial instruments have bid and ask prices that can be observed in the marketplace. For financial instruments whose inputs are based on bid-ask prices, the financial instrument is valued at the point within the bid-ask range that meets our best estimate of fair value. We use prices and inputs that are current as of the measurement date. For financial instruments that do not have readily determinable fair values using quoted market prices, the determination of fair value is based upon consideration of available information, including types of financial instruments, current financial information, restrictions on dispositions, fair values of underlying financial instruments and quotations for similar instruments.
	The valuation of financial instruments may include the use of valuation models and other techniques. Adjustments to valuations derived from valuation models may be made when, in management's judgment, features of the financial instrument such as its complexity, the market in which the financial instrument is traded and risk uncertainties about market conditions require that an adjustment be made to the value derived from the models. Adjustments from the price derived from a valuation model reflect management's judgment that other participants in the market for the financial instrument being measured at fair value would also consider in valuing that same financial instrument. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
	The availability of observable inputs can vary and is affected by a wide variety of factors, including, for example, the type of financial instrument and market conditions. As the observability of prices and inputs may change for a financial instrument from period to period, this condition may cause a transfer of an instrument among the fair value hierarchy levels. Transfers among the levels are recognized at the beginning of each period. The degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
	Jefferies Valuation Process for Financial Instruments
	The Jefferies Independent Price Verification ("IPV") Group, which is part of the Jefferies finance department, in partnership with Jefferies Risk Management, is responsible for establishing Jefferies valuation policies and procedures. The IPV Group and Risk Management, which are independent of business functions, play an important role and serve as a control function in determining that Jefferies financial instruments are appropriately valued and that fair value measurements are reliable. This is particularly important where prices or valuations that require inputs are less observable. In the event that observable inputs are not available, the control processes are designed to assure that the valuation approach utilized is appropriate and consistently applied and that the assumptions are reasonable. The IPV Group reports to the Jefferies Global Controller and is subject to the oversight of the IPV Committee, which includes senior members of Jefferies finance department and other personnel. Jefferies independent price verification policies and procedures are reviewed, at a minimum, annually and changes to the policies require the approval of the IPV Committee.
	Price Testing Process. The business units are responsible for determining the fair value of Jefferies financial instruments using approved valuation models and methodologies. In order to ensure that the business unit valuations represent a fair value exit price, the IPV Group tests and validates the fair value of the financial instruments inventory. In the testing process, the IPV Group obtains prices and valuation inputs from sources independent of Jefferies, consistently adheres to established procedures set forth in the valuation policies for sourcing prices and valuation inputs and utilizing valuation methodologies. Sources used to validate fair value prices and inputs include, but are not limited to, exchange data, recently executed transactions, pricing data obtained from third party vendors, pricing and valuation services, broker quotes and observed comparable transactions.
	To the extent discrepancies between the business unit valuations and the pricing or valuations resulting from the price testing process are identified, such discrepancies are investigated by the IPV Group and fair values are adjusted, as appropriate. The IPV Group maintains documentation of its testing, results, rationale and recommendations and prepares a monthly summary of its valuation results. This process also forms the basis for the classification of fair values within the fair value hierarchy (i.e., Level 1, Level 2 or Level 3). The IPV Group utilizes the additional expertise of Risk Management personnel in valuing more complex financial instruments and financial instruments with less or limited pricing observability. The results of the valuation testing are reported to the IPV Committee on a monthly basis, which discusses the results and is charged with the final conclusions as to the financial instrument fair values in the consolidated financial statements. This process specifically assists management in asserting as to the fair presentation of our financial condition and results of operations as included within our Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. At each quarter end, the overall valuation results, as concluded upon by the IPV Committee, are presented to the Jefferies Audit Committee.
	Judgment exercised in determining Level 3 fair value measurements is supplemented by daily analysis of profit and loss performed by the Product Control functions. Gains and losses, which result from changes in fair value, are evaluated and corroborated daily based on an understanding of each of the trading desks' overall risk positions and developments in a particular market on the given day. Valuation techniques generally rely on recent transactions of suitably comparable financial instruments and use the observable inputs from those comparable transactions as a validation basis for Level 3 inputs. Level 3 fair value measurements are further validated through subsequent sales testing and market comparable sales, if such information is available. Level 3 fair value measurements require documentation of the valuation rationale applied, which is reviewed for consistency in application from period to period; and the documentation includes benchmarking the assumptions underlying the valuation rationale against relevant analytic data.
	Third Party Pricing Information. Pricing information obtained from external data providers (including independent pricing services and brokers) may incorporate a range of market quotes from dealers, recent market transactions and benchmarking model derived prices to quoted market prices and trade data for comparable securities. External pricing data is subject to evaluation for reasonableness by the IPV Group using a variety of means including comparisons of prices to those of similar product types, quality and maturities, consideration of the narrowness or wideness of the range of prices obtained, knowledge of recent market transactions and an assessment of the similarity in prices to comparable dealer offerings in a recent time period. Jefferies has a process whereby it challenges the appropriateness of pricing information obtained from external data providers (including independent pricing services and brokers) in order to validate the data for consistency with the definition of a fair value exit price. Jefferies process includes understanding and evaluating the external data providers' valuation methodologies. For corporate, U.S. government and agency, and municipal debt securities, and loans, to the extent independent pricing services or broker quotes are utilized in our valuation process, the vendor service providers are collecting and aggregating observable market information as to recent trade activity and active bid-ask submissions. The composite pricing information received from the independent pricing service is not based on unobservable inputs or proprietary models. For mortgage- and other asset-backed securities and collateralized debt obligations, the independent pricing service uses a matrix evaluation approach incorporating both observable yield curves and market yields on comparable securities as well as implied inputs from observed trades for comparable securities in order to determine prepayment speeds, cumulative default rates and loss severity. Further, Jefferies considers pricing data from multiple service providers as available as well as compares pricing data to prices observed for recent transactions, if any, in order to corroborate valuation inputs.
	Model Review Process. Where a pricing model is to be used to determine fair value, the pricing model is reviewed for theoretical soundness and appropriateness by Risk Management, independent from the trading desks, and then approved by Risk Management to be used in the valuation process. Review and approval of a model for use may include benchmarking the model against relevant third party valuations, testing sample trades in the model, backtesting the results of the model against actual trades and stress-testing the sensitivity of the pricing model using varying inputs and assumptions. In addition, recently executed comparable transactions and other observable market data are considered for purposes of validating assumptions underlying the model. Models are independently reviewed and validated by Risk Management annually or more frequently if market conditions or use of the valuation model changes.
	Investments in Managed Funds
	Investments in managed funds include our investments in funds managed by us and our investments in related party managed funds in which we are entitled to a portion of the management and/or performance fees. Investments in nonconsolidated managed funds are accounted for at fair value with gains or losses included in the Consolidated Statements of Operations.
	Asset management fees and investment income from managed funds include revenues we earn from management, administrative and performance fees from funds and accounts managed by us, revenues from management and performance fees we earn from related-party managed funds and investment income from our investments in these funds. We earn fees in connection with management and investment advisory services performed for various funds and managed accounts. These fees are based on assets under management or an agreed upon notional amount and may include performance fees based upon the performance of the funds. Management and administrative fees are generally recognized over the period that the related service is provided. Generally, performance fees are earned when the return on assets under management exceeds certain benchmark returns, "high-water marks" or other performance targets. Performance fees are accrued (or reversed) on a monthly basis based on measuring performance to date versus any relevant benchmark return hurdles stated in the investment management agreement. Performance fees are not subject to adjustment once the measurement period ends (generally annual periods) and the performance fees have been realized.
	Loans to and Investments in Associated Companies
	Loans to and investments in associated companies include investments in private equity and other operating entities in which we exercise significant influence over operating and capital decisions and loans issued in connection with such investments. Loans to and investments in associated companies are accounted for using the equity method. See Notes 11 and 26 for additional information regarding certain of these investments.
	Under the equity method of accounting, our share of the investee's underlying net income or loss is recorded as Income (loss) related to associated companies, or as part of Other revenues if such investees are considered to be an extension of our business. Income (loss) for investees for which the fair value option was elected are reported as Principal transactions revenues.
	Receivables from and Payables to Customers of Securities Operations
	Receivables from and payables to customers of securities operations include amounts receivable and payable on cash and margin transactions. Securities owned by customers and held as collateral for these receivables are not reflected in the accompanying consolidated financial statements. Receivables from officers and directors included within this financial statement line item represent balances arising from their individual security transactions. These transactions are subject to the same regulations as customer transactions and are provided on substantially the same terms.
	Securities Borrowed and Securities Loaned
	Securities borrowed and securities loaned are carried at the amounts of cash collateral advanced and received in connection with the transactions and accounted for as collateralized financing transactions. In connection with both trading and brokerage activities, Jefferies borrows securities to cover short sales and to complete transactions in which customers have failed to deliver securities by the required settlement date, and lend securities to other brokers and dealers for similar purposes. Jefferies has an active securities borrowed and lending matched book business in which it borrows securities from one party and lends them to another party. When Jefferies borrows securities, it generally provides cash to the lender as collateral, which is reflected in the Consolidated Statements of Financial Condition as Securities borrowed. Jefferies earns interest revenues on this cash collateral. Similarly, when Jefferies lends securities to another party, that party provides cash to Jefferies as collateral, which is reflected in the Consolidated Statements of Financial Condition as Securities loaned. Jefferies pays interest expense on the cash collateral received from the party borrowing the securities. The initial collateral advanced or received approximates or is greater than the fair value of the securities borrowed or loaned. Jefferies monitors the fair value of the securities borrowed and loaned on a daily basis and requests additional collateral or returns excess collateral, as appropriate.
	Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase
	Securities purchased under agreements to resell and Securities sold under agreements to repurchase (collectively "repos") are accounted for as collateralized financing transactions and are recorded at their contracted resale or repurchase amount plus accrued interest. Repos are presented in the Consolidated Statements of Financial Condition on a net-basis-by counterparty, where permitted by GAAP. The fair value of the underlying securities is monitored daily versus the related receivable or payable balances. Should the fair value of the underlying securities decline or increase, additional collateral is requested or excess collateral is returned, as appropriate.
	Property, Equipment and Leasehold Improvements
	Property, equipment and leasehold improvements are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are provided principally on the straight-line method over the estimated useful lives of the assets or, if less, the term of the underlying lease.
	Impairment of Long-Lived Assets
	We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate, in management's judgment, that the carrying value of such assets may not be recoverable. When testing for impairment, we group our long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of whether an asset group is recoverable is based on management's estimate of undiscounted future cash flows directly attributable to the asset group as compared to its carrying value. If the carrying amount of the asset group is greater than the undiscounted cash flows, an impairment loss would be recognized for the amount by which the carrying amount of the asset group exceeds its estimated fair value.
	Substantially all of our operating businesses sell products or services that are impacted by general economic conditions in the U.S. and to a lesser extent internationally. In recent years general economic conditions reduced the demand for products or services sold by our operating subsidiaries and/or resulted in reduced pricing for products or services. A worsening of current economic conditions could cause a decline in estimated future cash flows expected to be generated by our operations and investments. If future undiscounted cash flows are estimated to be less than the carrying amounts of the asset groups used to generate those cash flows in subsequent reporting periods, particularly for those with large investments in intangible assets and property and equipment (for example, investment banking & capital markets, beef processing, manufacturing, real estate and certain associated company investments), impairment charges would have to be recorded.
	Intangible Assets, Net and Goodwill
	Intangible Assets. Intangible assets deemed to have finite lives are amortized on a straight-line basis over their estimated useful lives, where the useful life is the period over which the asset is expected to contribute directly, or indirectly, to our future cash flows. Intangible assets are reviewed for impairment on an interim basis when certain events or circumstances exist. If future undiscounted cash flows are estimated to be less than the carrying amounts of the asset groups used to generate those cash flows in subsequent reporting periods, particularly for those with large investments in amortizable intangible assets, impairment charges would have to be recorded.
	An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when certain events or circumstances exist indicating an assessment for impairment is necessary. Impairment exists when the carrying amount exceeds its fair value. Fair value will be determined using valuation techniques consistent with what a market participant would use. All of our annual indefinite-lived intangible assets were recognized in connection with the Jefferies acquisition, and our impairment testing date is as of August 1.
	Goodwill. At acquisition, we allocate the cost of a business acquisition to the specific tangible and intangible assets acquired and liabilities assumed based upon their fair values. Significant judgments and estimates are often made by management to determine these values, and may include the use of appraisals, consideration of market quotes for similar transactions, use of discounted cash flow techniques or consideration of other information we believe to be relevant. Any excess of the cost of a business acquisition over the fair values of the net assets and liabilities acquired is recorded as goodwill, which is not amortized to expense. Substantially all of our goodwill was recognized in connection with the Jefferies acquisition.
	At least annually, and more frequently if warranted, we will assess whether goodwill has been impaired. If the estimated fair value exceeds the carrying value, goodwill at the reporting unit level is not impaired. If the estimated fair value is less than carrying value, further analysis is necessary to determine the amount of impairment, if any. The fair values will be based on widely accepted valuation techniques that we believe market participants would use, although the valuation process requires significant judgment and often involves the use of significant estimates and assumptions. The methodologies we utilize in estimating fair value include market capitalization, price-to-book multiples of comparable exchange traded companies, multiples of merger and acquisitions of similar businesses and/or projected cash flows. The estimates and assumptions used in determining fair value could have a significant effect on whether or not an impairment charge is recorded and the magnitude of such a charge. Adverse market or economic events could result in impairment charges in future periods. Our annual goodwill impairment testing date related to Jefferies is as of August 1.
	Inventories and Cost of Sales
	National Beef's inventories consist primarily of beef products, beef by-products and supplies, and are stated at the lower of cost or market, with cost principally determined under the first-in-first-out method for beef products and average cost for supplies.
	Manufacturing inventories are stated at the lower of cost or market, with cost principally determined under the first-in-first-out method. Manufacturing cost of sales principally includes product and manufacturing costs, inbound and outbound shipping costs and handling costs.
	Income Taxes
	We record a valuation allowance to reduce our net deferred tax asset to the net amount that is more likely than not to be realized. If in the future we determine that it is more likely than not that we will be able to realize our net deferred tax asset in excess of our net recorded amount, an adjustment to increase the net deferred tax asset would increase income in such period. If in the future we were to determine that we would not be able to realize all or part of our recorded net deferred tax asset, an adjustment to decrease the net deferred tax asset would be charged to income in such period. We are required to consider all available evidence, both positive and negative, and to weight the evidence when determining whether a valuation allowance is required and the amount of such valuation allowance. Generally, greater weight is required to be placed on objectively verifiable evidence when making this assessment, in particular on recent historical operating results.
	Our estimate of future taxable income considers all available evidence, both positive and negative, about our operating businesses and investments, includes an aggregation of individual projections for each significant operating business and investment, estimated apportionment factors for state and local taxing jurisdictions and included all future years that we estimate we will have available net operating loss carryforwards ("NOLs") (until 2029). We believe that our estimate of future taxable income is reasonable but inherently uncertain, and if our current or future operations and investments generate taxable income different than the projected amounts, further adjustments to the valuation allowance are possible. The current balance of the deferred tax valuation allowance principally reserves for NOLs of certain subsidiaries that are not available to offset income generated by other members of the consolidated tax return group.
We also record reserves for unrecognized tax benefits based on our assessment of the probability of successfully sustaining tax filing positions. Interest and penalties, if any, are recorded as components of income tax expense. Management exercises significant judgment when assessing the probability of successfully sustaining tax filing positions, and in determining whether a contingent tax liability should be recorded and if so estimating the amount. If our tax filing positions are successfully challenged, payments could be required that are in excess of reserved amounts or we may be required to reduce the carrying amount of our net deferred tax asset, either of which could be significant to our Consolidated Statement of Financial Condition or results of operations.
Share-based Compensation
Share-based awards are measured based on the fair value of the award as determined in accordance with GAAP and recognized over the required service or vesting period. The fair value of options and warrants are estimated at the date of grant using the Black-Scholes option pricing model. Expected forfeitures are included in determining share-based compensation expense.
Foreign Currency Translation
Assets and liabilities of foreign subsidiaries having non-U.S. dollar functional currencies are translated at exchange rates at the end of a period. Revenues and expenses are translated at average exchange rates during the period. The gains or losses resulting from translating foreign currency financial statements into U.S. dollars, net of hedging gains or losses and taxes, if any, are included in other comprehensive income. Gains or losses resulting from foreign currency transactions are included in the Consolidated Statements of Operations.
Earnings per Common Share
Basic earnings per share ("EPS") is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding and certain other shares committed to be, but not yet issued. Net earnings available to common shareholders represent net earnings to common shareholders reduced by the allocation of earnings to participating securities. Losses are not allocated to participating securities. Common shares outstanding and certain other shares committed to be, but not yet issued, include restricted stock and restricted stock units ("RSUs") for which no future service is required. Diluted EPS is computed by dividing net earnings available to common shareholders plus dividends on dilutive mandatorily redeemable convertible preferred shares and interest on convertible notes by the weighted average number of common shares outstanding and certain other shares committed to be, but not yet issued, plus all dilutive common stock equivalents outstanding during the period.
Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and, therefore, are included in the earnings allocation in computing earnings per share under the two-class method of earnings per share. Restricted stock and RSUs granted as part of share-based compensation contain nonforfeitable rights to dividends and dividend equivalents, respectively, and therefore, prior to the requisite service being rendered for the right to retain the award, restricted stock and RSUs meet the definition of a participating security. As such, we calculate basic and diluted earnings per share under the two-class method.
Securitization Activities
Jefferies engages in securitization activities related to corporate loans, commercial mortgage loans and mortgage-backed and other asset-backed securities. Such transfers of financial assets are accounted for as sales when we have relinquished control over the transferred assets. The gain or loss on sale of such financial assets depends, in part, on the previous carrying amount of the assets involved in the transfer allocated between the assets sold and the retained interests, if any, based upon their respective fair values at the date of sale. We may retain interests in the securitized financial assets as one or more tranches of the securitization. These retained interests are included within Trading assets in the Consolidated Statements of Financial Condition at fair value. Any changes in the fair value of such retained interests are recognized in the Consolidated Statements of Operations.
When a transfer of assets does not meet the criteria of a sale, the transfer is accounted for as a secured borrowing and we continue to recognize the assets of a secured borrowing in Trading assets and recognize the associated financing in Other secured financings.
Contingencies
In the normal course of business, we have been named, from time to time, as a defendant in legal and regulatory proceedings.
We are also involved, from time to time, in other exams, investigations and similar reviews (both formal and informal) by governmental and self-regulatory agencies regarding our businesses, certain of which may result in judgments, settlements, fines, penalties or other injunctions.
We recognize a liability for a contingency when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the reasonable estimate of a probable loss is a range, we accrue the most likely amount of such loss, and if such amount is not determinable, then we accrue the minimum in the range as the loss accrual. The determination of the outcome and loss estimates requires significant judgment on the part of management, can be highly subjective and is subject to significant change with the passage of time as more information becomes available. Estimating the ultimate impact of litigation matters is inherently uncertain, in particular because the ultimate outcome will rest on events and decisions of others that may not be within our power to control. We do not believe that any of our current litigation will have a significant adverse effect on our consolidated financial position, results of operations or liquidity; however, if amounts paid at the resolution of litigation are in excess of recorded reserve amounts, the excess could be significant in relation to results of operations for that period. For further information, see Note 23.

Accounting_Developments

Accounting Developments	6 Months Ended
	Jun. 30, 2014
Accounting Developments [Abstract]	'
Accounting Developments	'
	Note 3. Accounting Developments
	Income Taxes. In January 2014, we adopted new Financial Accounting Standards Board ("FASB") guidance that requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or tax credit carryforward, unless such net operating loss carryforward, similar tax loss or tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes resulting from the disallowance of a tax position. In the event that the tax position is disallowed or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. The adoption of this guidance did not have an impact on our consolidated financial statements.
	Discontinued Operations. In April 2014, the FASB issued new guidance on the reporting of discontinued operations. The new guidance requires that disposal of a component of an entity or a group of components of an entity be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results, and would require expanded disclosures. This guidance will be effective prospectively within annual periods beginning on or after December 15, 2014.
	Revenue Recognition. In May 2014, the FASB issued new guidance that defines how companies report revenues from contracts with customers, and also requires enhanced disclosures. The core principle of this new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This guidance will be effective for interim and annual periods beginning after December 15, 2016. We are currently evaluating the impact this new guidance will have on our consolidated financial statements.
	Repurchase Agreements. In June 2014, the FASB issued new guidance that changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The guidance also requires new disclosures about transfers that are accounted for as sales in transactions that are economically similar to repurchase agreements and increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. This guidance will be effective prospectively for interim and annual periods beginning after December 15, 2014. We are currently evaluating the impact this new guidance will have on our consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2014
Acquisitions [Abstract]	'
Acquisitions	'
	Note 4. Acquisitions
	As more fully discussed in the 2013 10-K, Jefferies became a wholly-owned subsidiary on March 1, 2013. Each share of Jefferies common stock was converted at the Exchange Ratio into our common shares, an aggregate of approximately 119,363,000 common shares, and we issued a new series of our 3.25% Cumulative Convertible Preferred Shares ($125.0 million at mandatory redemption value) in exchange for Jefferies outstanding 3.25% Series A-1 Cumulative Convertible Preferred Stock. In addition, each restricted share of Jefferies common stock and each RSU of Jefferies common stock was converted at the Exchange Ratio into an award of restricted shares or RSUs of Leucadia, with all such awards subject to the same terms and conditions, including, without limitation, vesting and, in the case of performance-based RSUs, performance being measured at existing targets. The Jefferies acquisition was accounted for using the acquisition method of accounting; the aggregate purchase price was $4,770.6 million.
	The following table reflects the allocation of the purchase price to the assets acquired and liabilities assumed at the acquisition date (in thousands):
	Assets
	Cash and cash equivalents	$	3,017,958
	Cash and securities segregated and on deposit for regulatory purposes or
	deposited with clearing and depository organizations		3,728,742
	Trading assets		16,413,535
	Loans to and investments in associated companies		766,893
	Securities borrowed		5,315,488
	Securities purchased under agreements to resell		3,578,366
	Intangible assets, net		282,852
	Goodwill		1,722,591
	Deferred tax asset, net		539,384
	Other assets		4,386,419
	Total assets		39,752,228
	Liabilities
	Short-term borrowings		100,000
	Trading liabilities		9,766,876
	Securities loaned		1,902,687
	Securities sold under agreements to repurchase		7,976,492
	Payables to customers of securities operations		5,450,781
	Trade payables, expense accruals and other liabilities		2,724,136
	Mandatorily redeemable preferred interest in JHYH held by Leucadia		358,951
	Long-term debt		6,345,536
	Total liabilities		34,625,459
	Noncontrolling interests		356,180
	Net assets acquired	$	4,770,589
	The fair value of Jefferies customer relationships and tradename were estimated using an income approach which calculates the present value of the estimated future net economic benefits of the assets over their estimated remaining life. Replacement cost was used to estimate the fair value of internally developed software and exchange and clearing organization memberships based on the premise that a prudent investor would not pay more for an asset than its replacement cost. The fair values of trading assets and trading liabilities were determined based upon the methodologies disclosed in Note 5 below. The fair value of long-term debt was principally based on prices observed for recently executed market transactions or based on valuations received from third party brokers. The fair value of noncontrolling interests, which principally represented third-party investors in JHYH, and the fair value of mandatorily redeemable preferred interests in JHYH held by us, was the estimated redemption value of those interests, which was based on their share of the underlying net assets in JHYH. JHYH net assets were valued using the methodologies disclosed in Note 5 below. The third-party interests in JHYH have been redeemed and our interest contributed to Jefferies capital. Approximately $111.5 million of the goodwill recorded at acquisition is deductible for income tax purposes.
	Amounts allocated to intangible assets, the amortization period and goodwill were as follows (dollars in thousands):
				Amortization
			Amount	Years
	Customer relationships	$	136,002	9 to 18 years
	Tradenames and related trademarks		131,299	35 years
	Exchange and clearing organization
	membership interests and registrations		15,551	Indefinite
	Subtotal, intangible assets		282,852
	Goodwill		1,722,591
	Total	$	2,005,443
	Presented below for the three and six months ended June 30, 2013, are unaudited pro forma operating results assuming the acquisition of Jefferies had occurred on January 1, 2012 (in thousands, except per share amounts):
			For the Three Month		For the Six Month
			Period Ended		Period Ended
			30-Jun-13		30-Jun-13
	Net revenues	$	2,675,725	$	5,631,515
	Net income attributable to Leucadia National Corporation
	common shareholders	$	57,314	$	253,403
	Basic income per common share attributable to Leucadia
	National Corporation common shareholders	$	0.15	$	0.66
	Diluted income per common share attributable to Leucadia
	National Corporation common shareholders	$	0.15	$	0.66
	Pro forma adjustments for Jefferies principally reflect an increase to amortization expenses related to the fair value of amortizable intangible assets, a reduction to interest expense for the amortization of the premium recorded to reflect long-term debt at fair value and to reflect the costs related to the acquisition as if they had occurred in the period beginning January 1, 2012. In addition, the pro forma adjustments reflect the elimination from Net revenues amounts recognized from the application of the fair value option to our investment in Jefferies for periods prior to March 1, 2013, as more fully described in Note 5. Pro forma adjustments also include the removal of the deferred tax liability reversal related to our investment in Jefferies for periods prior to March 1, 2013 ($34.0 million). The unaudited pro forma data is not indicative of future results of operations or what would have resulted if the acquisition had actually occurred as of January 1, 2012.

Fair_Value_Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures	'
	Note 5. Fair Value Disclosures
	The following is a summary of our financial instruments, trading liabilities and investments in managed funds that are accounted for at fair value on a recurring basis by level within the fair value hierarchy at June 30, 2014 and December 31, 2013 (in thousands):
		30-Jun-14
									Counterparty
									and
									Cash
									Collateral
			Level 1 (1)		Level 2 (1)		Level 3		Netting (2)			Total
	Assets:
	Trading assets, at fair value:
	Corporate equity securities	$	2,774,650	$	345,139	$	16,402	$	–		$	3,136,191
	Corporate debt securities		–		3,171,520		31,648		–			3,203,168
	Collateralized debt obligations		–		290,292		42,313		–			332,605
	U.S. government and federal agency securities		2,176,254		74,996		–		–			2,251,250
	Municipal securities		–		690,649		–		–			690,649
	Sovereign obligations		1,540,017		1,018,348		–		–			2,558,365
	Residential mortgage-backed securities		–		3,024,940		71,962		–			3,096,902
	Commercial mortgage-backed securities		–		579,591		24,246		–			603,837
	Other asset-backed securities		–		13,603		45,444		–			59,047
	Loans and other receivables		–		1,426,045		138,643		–			1,564,688
	Derivatives		87,612		2,813,166		913		(2,648,507	)		253,184
	Investments at fair value		–		5,361		140,452		–			145,813
	Physical commodities		–		47,166		–		–			47,166
	Total trading assets	$	6,578,533	$	13,500,816	$	512,023	$	(2,648,507	)	$	17,942,865
	Available for sale securities:
	Corporate equity securities	$	103,283	$	–	$	–	$	–		$	103,283
	Corporate debt securities		–		38,368		–		–			38,368
	U.S. government securities		945,872		–		–		–			945,872
	Residential mortgage-backed securities		–		584,621		–		–			584,621
	Commercial mortgage-backed securities		–		49,127		–		–			49,127
	Other asset-backed securities		–		223,209		–		–			223,209
	Total available for sale securities	$	1,049,155	$	895,325	$	–	$	–		$	1,944,480
	Cash and cash equivalents	$	4,186,725	$	–	$	–	$	–		$	4,186,725
	Investments in managed funds		$ –	$	195,069	$	56,119	$	–		$	251,188
	Cash and securities segregated and on deposit for regulatory
	purposes or deposited with clearing and depository
	organizations (3)	$	3,288,517	$	–	$	–	$	–		$	3,288,517
	Securities received as collateral	$	126,106	$	–	$	–	$	–		$	126,106
	Liabilities:
	Trading liabilities:
	Corporate equity securities	$	1,632,106	$	52,160	$	38	$	–		$	1,684,304
	Corporate debt securities		–		1,510,841		2,780		–			1,513,621
	U.S. government and federal agency securities		1,554,835		–		–		–			1,554,835
	Sovereign obligations		1,517,111		716,275		–		–			2,233,386
	Residential mortgage-backed securities		–		16,837		–		–			16,837
	Loans		–		872,322		31,534		–			903,856
	Derivatives		75,585		2,881,585		16,195		(2,747,077	)		226,288
	Physical commodities		–		39,173		–		–			39,173
	Total trading liabilities	$	4,779,637	$	6,089,193	$	50,547	$	(2,747,077	)	$	8,172,300
	Other secured financings	$	–	$	–	$	20,288	$	–		$	20,288
	Obligation to return securities received as collateral	$	126,106	$	–	$	–	$	–		$	126,106
		31-Dec-13
									Counterparty
									and
									Cash
									Collateral
			Level 1 (1)		Level 2 (1)		Level 3		Netting (2)			Total
	Assets:
	Trading assets, at fair value:
	Corporate equity securities	$	1,957,963	$	175,493	$	9,884	$	–		$	2,143,340
	Corporate debt securities		–		2,961,857		25,666		–			2,987,523
	Collateralized debt obligations		–		182,095		37,216		–			219,311
	U.S. government and federal agency securities		2,293,221		40,389		–		–			2,333,610
Municipal securities		–		664,054		–		–			664,054
Sovereign obligations		1,458,803		889,685		–		–			2,348,488
Residential mortgage-backed securities		–		2,932,268		105,492		–			3,037,760
Commercial mortgage-backed securities		–		1,130,410		17,568		–			1,147,978
Other asset-backed securities		–		55,475		12,611		–			68,086
Loans and other receivables		–		1,203,238		145,890		–			1,349,128
Derivatives		40,952		2,472,238		1,493		(2,253,589	)		261,094
Investments at fair value		–		40		101,242		–			101,282
Physical commodities		–		37,888		–		–			37,888
Total trading assets	$	5,750,939	$	12,745,130	$	457,062	$	(2,253,589	)	$	16,699,542
Available for sale securities:
Corporate equity securities	$	252,531	$	–	$	–	$	–		$	252,531
Corporate debt securities		–		51,163		–		–			51,163
U.S. government securities		1,781,266		–		–		–			1,781,266
Residential mortgage-backed securities		–		579,162		–		–			579,162
Commercial mortgage-backed securities		–		17,985		–		–			17,985
Other asset-backed securities		–		184,036		–		–			184,036
Total available for sale securities	$	2,033,797	$	832,346	$	–	$	–		$	2,866,143
Cash and cash equivalents	$	3,907,595	$	–	$	–	$	–		$	3,907,595
Investments in managed funds	$	–	$	–	$	57,285	$	–		$	57,285
Cash and securities segregated and on deposit for regulatory
purposes or deposited with clearing and depository
organizations (3)	$	3,616,602	$	–	$	–	$	–		$	3,616,602
Securities received as collateral	$	11,063	$	–	$	–	$	–		$	11,063
Liabilities:
Trading liabilities:
Corporate equity securities	$	1,804,392	$	40,358	$	38	$	–		$	1,844,788
Corporate debt securities		–		1,346,078		–		–			1,346,078
U.S. government and federal agency securities		1,324,326		–		–		–			1,324,326
Sovereign obligations		1,360,269		471,088		–		–			1,831,357
Residential mortgage-backed securities		–		34,691		–		–			34,691
Loans		–		672,838		22,462		–			695,300
Derivatives		43,829		2,480,463		8,398		(2,352,611	)		180,079
Physical commodities		–		36,483		–		–			36,483
Total trading liabilities	$	4,532,816	$	5,081,999	$	30,898	$	(2,352,611	)	$	7,293,102
Other secured financings	$	–	$	31,000	$	8,711	$	–		$	39,711
Obligation to return securities received as collateral	$	11,063	$	–	$	–	$	–		$	11,063
(1)	There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2014. During the year ended December 31, 2013, listed equity options with a fair value of $403.0 million within Trading assets and $423.0 million within Trading liabilities were transferred from Level 1 to Level 2 as adjustments to the exchange closing price are necessary to best reflect the fair value of the population at its exit price.
(2)	Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty.
(3)	Securities comprise U.S. government securities segregated for regulatory purposes with a fair value of $564.7 million and $304.2 million at June 30, 2014 and December 31, 2013, respectively.
The following is a description of the valuation basis, including valuation techniques and inputs, used in measuring our financial assets and liabilities that are accounted for at fair value on a recurring basis:
Corporate Equity Securities
Exchange Traded Equity Securities: Exchange traded equity securities are measured based on quoted closing exchange prices, which are generally obtained from external pricing services, and are categorized within Level 1 of the fair value hierarchy, otherwise they are categorized within Level 2 or Level 3 of the fair value hierarchy.
Non-exchange Traded Equity Securities: Non-exchange traded equity securities are measured primarily using broker quotations, pricing data from external pricing services and prices observed for recently executed market transactions and are categorized within Level 2 of the fair value hierarchy. Where such information is not available, non-exchange traded equity securities are categorized within Level 3 of the fair value hierarchy and measured using valuation techniques involving quoted prices of or market data for comparable companies, similar company ratios and multiples (e.g., price/EBITDA, price/book value), discounted cash flow analyses and transaction prices observed for subsequent financing or capital issuance by the company. When using pricing data of comparable companies, judgment must be applied to adjust the pricing data to account for differences between the measured security and the comparable security (e.g., issuer market capitalization, yield, dividend rate, geographical concentration).
Equity warrants: Non-exchange traded equity warrants are generally categorized within Level 3 of the fair value hierarchy and are measured using the Black-Scholes model with key inputs impacting the valuation including the underlying security price, implied volatility, dividend yield, interest rate curve, strike price and maturity date.
Corporate Debt Securities
Corporate Bonds: Corporate bonds are measured primarily using pricing data from external pricing services and broker quotations, where available, prices observed for recently executed market transactions of comparable size, and bond spreads or credit default swap spreads of the issuer adjusted for basis differences between the swap curve and the bond curve. Corporate bonds measured using these valuation methods are categorized within Level 2 of the fair value hierarchy. If broker quotes, pricing data or spread data is not available, alternative valuation techniques are used including cash flow models incorporating interest rate curves, single name or index credit default swap curves for comparable issuers and recovery rate assumptions. Corporate bonds measured using alternative valuation techniques are categorized within Level 3 of the fair value hierarchy and comprise a limited portion of our corporate bonds.
High Yield Corporate and Convertible Bonds: A significant portion of our high yield corporate and convertible bonds are categorized within Level 2 of the fair value hierarchy and are measured primarily using broker quotations and pricing data from external pricing services, where available, and prices observed for recently executed market transactions of comparable size. Where pricing data is less observable, valuations are categorized within Level 3 and are based on pending transactions involving the issuer or comparable issuers, prices implied from an issuer's subsequent financings or recapitalizations, models incorporating financial ratios and projected cash flows of the issuer and market prices for comparable issuers.
Collateralized Debt Obligations
Collateralized debt obligations are measured based on prices observed for recently executed market transactions or based on valuations received from third party brokers and are categorized within Level 2 or Level 3 of the fair value hierarchy depending on the observability and significance of the pricing inputs.
U.S. Government and Federal Agency Securities
U.S. Treasury Securities: U.S. Treasury securities are measured based on quoted market prices and categorized within Level 1 of the fair value hierarchy.
U.S. Agency Issued Debt Securities: Callable and non-callable U.S. agency issued debt securities are measured primarily based on quoted market prices obtained from external pricing services. Non-callable U.S. agency securities are generally categorized within Level 1 and callable U.S. agency securities are categorized within Level 2 of the fair value hierarchy.
Municipal Securities
Municipal securities are measured based on quoted prices obtained from external pricing services and are generally categorized within Level 2 of the fair value hierarchy.
Sovereign Obligations
Foreign sovereign government obligations are measured based on quoted market prices obtained from external pricing services, where available, or recently executed independent transactions of comparable size. To the extent external price quotations are not available or recent transactions have not been observed, valuation techniques incorporating interest rate yield curves and country spreads for bonds of similar issuers, seniority and maturity are used to determine fair value of sovereign bonds or obligations. Foreign sovereign government obligations are classified in Level 1, Level 2 or Level 3 of the fair value hierarchy, primarily based on the country of issuance.
Residential Mortgage-Backed Securities
Agency Residential Mortgage-Backed Securities: Agency residential mortgage-backed securities include mortgage pass- through securities (fixed and adjustable rate), collateralized mortgage obligations and interest-only and principal-only securities and are generally measured using market price quotations from external pricing services and categorized within Level 2 of the fair value hierarchy.
Agency Residential Inverse Interest-Only Securities ("Agency Inverse IOs"): The fair value of Agency Inverse IOs are estimated using expected future cash flow techniques that incorporate prepayment models and other prepayment assumptions to amortize the underlying mortgage loan collateral. We use prices observed for recently executed transactions to develop market-clearing spread and yield curve assumptions. Valuation inputs with regard to the underlying collateral incorporate weighted average coupon, loan-to-value, credit scores, geographic location, maximum and average loan size, originator, servicer, and weighted average loan age. Agency Inverse IOs are categorized within Level 2 or Level 3 of the fair value hierarchy. We also use vendor data in developing our assumptions, as appropriate.
Non-Agency Residential Mortgage-Backed Securities: Fair values are determined primarily using discounted cash flow methodologies and securities are categorized within Level 2 or Level 3 of the fair value hierarchy based on the observability and significance of the pricing inputs used. Performance attributes of the underlying mortgage loans are evaluated to estimate pricing inputs, such as prepayment rates, default rates and the severity of credit losses. Attributes of the underlying mortgage loans that affect the pricing inputs include, but are not limited to, weighted average coupon; average and maximum loan size; loan-to-value; credit scores; documentation type; geographic location; weighted average loan age; originator; servicer; historical prepayment, default and loss severity experience of the mortgage loan pool; and delinquency rate. Yield curves used in the discounted cash flow models are based on observed market prices for comparable securities and published interest rate data to estimate market yields.
Commercial Mortgage-Backed Securities
Agency Commercial Mortgage-Backed Securities: GNMA project loan bonds and FNMA Delegated Underwriting and Servicing ("DUS") mortgage-backed securities are generally measured by using prices observed for recently executed market transactions to estimate market-clearing spread levels for purposes of estimating fair value. GNMA project loan bonds and FNMA DUS mortgage-backed securities are categorized within Level 2 of the fair value hierarchy.
Non-Agency Commercial Mortgage-Backed Securities: Non-agency commercial mortgage-backed securities are measured using pricing data obtained from external pricing services and prices observed for recently executed market transactions and are categorized within Level 2 and Level 3 of the fair value hierarchy.
Other Asset-Backed Securities
Other asset-backed securities include, but are not limited to, securities backed by auto loans, credit card receivables and student loans and are categorized within Level 2 and Level 3 of the fair value hierarchy. Valuations are determined using pricing data obtained from external pricing services and prices observed for recently executed market transactions.
Loans and Other Receivables
Corporate Loans: Corporate loans categorized within Level 2 of the fair value hierarchy are measured based on market price quotations where market price quotations from external pricing services are supported by market transaction data.
Corporate loans categorized within Level 3 of the fair value hierarchy are measured based on market price quotations that are considered to be less transparent, market prices for debt securities of the same creditor, and estimates of future cash flow incorporating assumptions regarding creditor default and recovery rates and consideration of the issuer's capital structure.
Participation Certificates in GNMA Project and Construction Loans: Valuations of participation certificates in GNMA project and construction loans are based on observed market prices of recently executed purchases of similar loans which are then used to derive a market implied spread, which in turn is used as the primary input in estimating the fair value of loans at the measurement date. The loan participation certificates are categorized within Level 2 of the fair value hierarchy given the observability and volume of recently executed transactions.
Project Loans: Valuation of project loans are based on benchmarks of prices for recently executed transactions of related realized collateralized securities and are categorized within Level 2 of the fair value hierarchy.
Escrow and Trade Claim Receivables: Escrow and trade claim receivables are categorized within Level 3 of the fair value hierarchy where fair value is estimated based on reference to market prices and implied yields of debt securities of the same or similar issuers. Escrow and trade claim receivables are categorized within Level 2 of the fair value hierarchy where fair value is based on recent trade activity in the same security.
Derivatives
Listed Derivative Contracts: Listed derivative contracts that are actively traded are measured based on quoted exchange prices, which are generally obtained from external pricing services, and are categorized within Level 1 of the fair value hierarchy. Listed derivatives for which there is limited trading activity are measured based on incorporating the closing auction price of the underlying equity security, use similar valuation approaches as those applied to over-the-counter derivative contracts and are categorized within Level 2 of the fair value hierarchy.
OTC Derivative Contracts: Over-the-counter ("OTC") derivative contracts are generally valued using models, whose inputs reflect assumptions that we believe market participants would use in valuing the derivative in a current period transaction. Inputs to valuation models are appropriately calibrated to market data. For many OTC derivative contracts, the valuation models do not involve material subjectivity as the methodologies do not entail significant judgment and the inputs to valuation models do not involve a high degree of subjectivity as the valuation model inputs are readily observable or can be derived from actively quoted markets. OTC derivative contracts are primarily categorized within Level 2 of the fair value hierarchy given the observability and significance of the inputs to the valuation models. Where significant inputs to the valuation are unobservable, derivative instruments are categorized within Level 3 of the fair value hierarchy.
OTC options include OTC equity, foreign exchange and commodity options measured using various valuation models, such as the Black-Scholes, with key inputs impacting the valuation including the underlying security, foreign exchange spot rate or commodity price, implied volatility, dividend yield, interest rate curve, strike price and maturity date. Discounted cash flow models are utilized to measure certain OTC derivative contracts including the valuations of our interest rate swaps, which incorporate observable inputs related to interest rate curves, valuations of our foreign exchange forwards and swaps, which incorporate observable inputs related to foreign currency spot rates and forward curves and valuations of our commodity swaps, which incorporate observable inputs related to commodity spot prices and forward curves. Credit default swaps include both index and single-name credit default swaps. External prices are available as inputs in measuring index credit default swaps and single-name credit default swaps. For commodity and equity total return swaps, market prices are observable for the underlying asset and used as the basis for measuring the fair value of the derivative contracts. Total return swaps executed on other underlyings are measured based on valuations received from external pricing services.
Physical Commodities
Physical commodities include base and precious metals and are measured using observable inputs including spot prices and published indices. Physical commodities are categorized within Level 2 of the fair value hierarchy. To facilitate the trading in precious metals we undertake leasing of such precious metals. The fees earned or paid for such leases are recorded as revenues in the Consolidated Statements of Operations.
Investments at Fair Value and Investments in Managed Funds
Investments at fair value and Investments in managed funds include investments in hedge funds, fund of funds, private equity funds, convertible bond funds and other funds, which are measured at fair value based on the net asset value of the funds provided by the fund managers and are categorized within Level 2 or Level 3 of the fair value hierarchy. Investments at fair value also include direct equity investments in private companies, which are measured at fair value using valuation techniques involving quoted prices of or market data for comparable companies, similar company ratios and multiples (e.g., price/EBITDA, price/book value), discounted cash flow analyses and transaction prices observed for subsequent financing or capital issuance by the company. Direct equity investments in private companies are categorized within Level 2 or Level 3 of the fair value hierarchy. Additionally, investments at fair value include investments in insurance contracts relating to our defined benefit plan in Germany. Fair value for the insurance contracts is determined using a third party and is categorized within Level 3 of the fair value hierarchy. Fair value for the shares in non-U.S. exchanges and clearing houses is determined based on recent transactions or third party model valuations and is categorized within Level 2 or Level 3 of the fair value hierarchy. The following tables present information about our investments in entities that have the characteristics of an investment company (in thousands).
				30-Jun-14
					Redemption
				Unfunded	Frequency
		Fair Value (7)		Commitments	(if currently eligible)
Equity Long/Short Hedge Funds (1)	$	121,997	$	–	Monthly/Quarterly
High Yield Hedge Funds (2)		232		–	–
Fund of Funds (3)		388		94	–
Equity Funds (4)		69,047		27,409	–
Convertible Bond Funds (5)		3,647		–	At Will
Multi-strategy Fund (6)		92,137		–	–
Total (8)	$	287,448	$	27,503
				31-Dec-13
					Redemption
				Unfunded	Frequency
		Fair Value (7)		Commitments	(if currently eligible)
Equity Long/Short Hedge Funds (1)	$	20,927	$	–	Monthly/Quarterly
High Yield Hedge Funds (2)		244		–	–
Fund of Funds (3)		494		94	–
Equity Funds (4)		66,495		40,816	–
Convertible Bond Funds (5)		3,473		–	At Will
Total (8)	$	91,633	$	40,910
(1)	This category includes investments in hedge funds that invest, long and short, in equity securities in domestic and international markets in both the public and private sectors. At June 30, 2014 and December 31, 2013, investments representing approximately 99% and 98%, respectively, of the fair value of investments in this category are redeemable with 30 to 65 days prior written notice, and includes an investment in a private asset management fund managed by us with a fair value of $99.3 million at June 30, 2014. The remaining investments in this category cannot be redeemed as they are in liquidation and distributions will be received through the liquidation of the underlying assets of the funds. We are unable to estimate when the underlying assets will be liquidated.
(2)	Includes investments in funds that invest in domestic and international public high yield debt, private high yield investments, senior bank loans, public leveraged equities, distressed debt, and private equity investments. There are no redemption provisions. The underlying assets of the funds are being liquidated and we are unable to estimate when the underlying assets will be fully liquidated.
(3)	Includes investments in fund of funds that invest in various private equity funds. At June 30, 2014 and December 31, 2013, approximately 96% and 98%, respectively, of the fair value of investments in this category is managed by us and has no redemption provisions, instead distributions are received through the liquidation of the underlying assets of the fund of funds, which are estimated to be liquidated in one to two years. For the remaining investments, we have requested redemption; however, we are unable to estimate when these funds will be received.
(4)	At June 30, 2014 and December 31, 2013, investments representing approximately 99% and 99%, respectively, of the fair value of investments in this category include investments in equity funds that invest in the equity of various U.S. and foreign private companies in the energy, technology, internet service and telecommunication service industries. These investments cannot be redeemed, instead distributions are received through the liquidation of the underlying assets of the funds which are expected to liquidate in one to eight years. The remaining investments are in liquidation and we are unable to estimate when the underlying assets will be fully liquidated. At June 30, 2014 and December 31, 2013, this category includes investments in equity funds managed by us with a fair value of $56.6 million and $54.4 million, respectively, and unfunded commitments of $25.8 million and $39.2 million, respectively.
(5)	Investment in the Jefferies Umbrella Fund, an open-ended investment company managed by us that invests primarily in convertible bonds. The investment is redeemable with 5 days prior written notice.
(6)	Investment in private asset management fund managed by us that employs a variety of investment strategies and can invest in U.S. and non-U.S. equity and equity related securities, futures, exchange traded funds, fixed income securities, preferred securities, options, forward contracts and swaps. Withdrawals from the fund prior to the first year anniversary of the investment are subject to a 5% withdrawal fee and withdrawals during any calendar quarter are limited to 25% of the fund's net asset value. Both of these restrictions can be waived by us, in our sole discretion.
(7)	Fair value has been estimated using the net asset value derived from each of the funds' capital statements.
(8)	Investments at fair value in the Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013, include $87.2 million and $66.9 million, respectively, of direct investments which do not have the characteristics of investment companies and therefore not included within this table. We have unfunded commitments to such investments of $0 million and $3.3 million in aggregate at June 30, 2014 and December 31, 2013, respectively.
Other Secured Financings
Other secured financings includes the notes issued by consolidated VIEs, which are classified as Level 2 within the fair value hierarchy. Fair value is based on recent transaction prices. In addition, at June 30, 2014 and December 31, 2013, Other secured financings includes $20.3 million and $8.7 million, respectively, related to transfers of loans accounted for as secured financings rather than as sales and classified as Level 3 within the fair value hierarchy.
Pricing Information
Our trading assets and trading liabilities are measured using different valuation bases as follows:
	30-Jun-14				31-Dec-13
	Trading Assets		Trading Liabilities		Trading Assets		Trading Liabilities
Exchange closing prices	12	%	20	%	12	%	25	%
Recently observed transaction prices	4	%	5	%	5	%	4	%
External pricing services	72	%	70	%	68	%	66	%
Broker quotes	3	%	2	%	3	%	3	%
Valuation techniques	9	%	3	%	12	%	2	%
	100	%	100	%	100	%	100	%
The following is a summary of changes in fair value of our financial assets and liabilities that have been categorized within Level 3 of the fair value hierarchy for the three months ended June 30, 2014 (in thousands):
Three Months Ended June 30, 2014
																							Changes in
																							unrealized
																							gains (losses)
																							relating to
				Total gains																			instruments
		Balance,		(losses)														Net transfers			Balance,		still held at
		March 31,		(realized and														into (out of)			June 30,		June 30,
		2014		unrealized) (1)			Purchases			Sales			Settlements			Issuances		Level 3			2014		2014 (1)
Assets:
Trading assets:
Corporate equity securities	$	12,341	$	(178	)	$	90		$	(84	)	$	–		$	–	$	4,233		$	16,402	$	(178	)
Corporate debt securities		29,315		5,659			1,937			(5,831	)		–			–		568			31,648		7,999
Collateralized debt obligations		66,028		4,706			19,146			(49,636	)		(331	)		–		2,400			42,313		238
Residential mortgage-backed																–
securities		116,992		(791	)		10,955			(24,618	)		(459	)		–		(30,117	)		71,962		(422	)
Commercial mortgage-backed
securities		17,486		(903	)		18,026			(21,038	)		(1,189	)		–		11,864			24,246		(1,933	)
Other asset-backed securities		2,375		(314	)		15,686			–			(438	)		–		28,135			45,444		(314	)
Loans and other receivables		128,832		11,933			42,278			(48,064	)		(21,482	)		–		25,146			138,643		11,922
Investments at fair value		138,843		4,678			7,660			(4,101	)		–			–		(6,628	)		140,452		2,030
Investments in managed funds		59,528		(8,151	)		11,305			–			–			–		(6,563	)		56,119		(8,151	)
Liabilities:
Trading liabilities:
Corporate equity securities	$	1,015	$	(977	)	$	–		$	–		$	–		$	–	$	–		$	38	$	558
Corporate debt securities		–		(84	)		(4,082	)		3,012			–			–		3,934			2,780		84
Net derivatives (2)		5,773		9,485			(2,150	)		2,149			25			–		–			15,282		(9,485	)
Loans		10,260		62			(9,629	)		18,995			139			–		11,707			31,534		(57	)
Other secured financings		30,394		–			(992	)		–			(9,114	)		–		–			20,288		–
(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
Analysis of Level 3 Assets and Liabilities for the three months ended June 30, 2014
During the three months ended June 30, 2014, transfers of assets of $95.4 million from Level 2 to Level 3 of the fair value hierarchy are attributed to:
Non-agency residential mortgage-backed securities of $5.5 million, commercial mortgage-backed securities of $14.2 million and other asset-backed securities of $29.9 million for which no recent trade activity was observed for purposes of determining observable inputs;
Loans and other receivables of $26.3 million due to a lower number of contributors comprising vendor quotes to support classification within Level 2;
Corporate equity securities of $11.6 million and corporate debt securities of $.6 million due to lack of observable market transactions;
Collateralized debt obligations of $7.1 million which have little to no transparency in trade activity.
During the three months ended June 30, 2014, transfers of assets of $66.4 million from Level 3 to Level 2 are attributed to:
Non-agency residential mortgage-backed securities of $35.6 million, commercial mortgage-backed securities of $2.3 million and other asset-backed securities of $1.8 million for which market trades were observed in the period for either identical or similar securities;
Collateralized debt obligations of $4.7 million, loans and other receivables of $1.1 million and investments at fair value of $6.6 million due to a greater number of contributors for certain vendor quotes supporting classification into Level 2;
Corporate equity securities of $7.4 million and investment in managed funds of $6.7 million due to an increase in observable market transactions.
During the three months ended June 30, 2014, there were transfers of loan liabilities of $11.7 million from Level 2 to Level 3 due to a decrease in observable inputs in the valuation. There were $3.9 million transfers of corporate debt liabilities from Level 2 to Level 3 due to a lower number of observable market transactions.
Net gains on Level 3 assets were $16.6 million and net losses on Level 3 liabilities were $8.5 million for the three months ended June 30, 2014. Net gains on Level 3 assets were primarily due to increased valuations of certain loans and other receivables, collateralized debt obligations, corporate debt securities and investments at fair value, partially offset by a decrease in valuation of certain corporate equity securities, residential and commercial mortgage-backed securities and investments in managed funds. Net losses on Level 3 liabilities were primarily due to increased valuations of certain derivative instruments, partially offset by decrease in valuation of certain corporate equity and debt securities.
The following is a summary of changes in fair value of our financial assets and liabilities that have been categorized within Level 3 of the fair value hierarchy for the six months ended June 30, 2014 (in thousands):
Six Months Ended June 30, 2014
																							Changes in
																							unrealized
																							gains (losses)
																							relating to
				Total gains																			instruments
		Balance,		(losses)														Net transfers			Balance,		still held at
		December 31,		(realized and														into (out of)			June 30,		June 30,
		2013		unrealized) (1)			Purchases			Sales			Settlements			Issuances		Level 3			2014		2014 (1)
Assets:
Trading assets:
Corporate equity securities	$	9,884	$	(1,583	)	$	608		$	(370	)	$	–		$	–	$	7,863		$	16,402	$	(494	)
Corporate debt securities		25,666		5,116			3,835			(3,224	)		–			–		255			31,648		7,420
Collateralized debt obligations		37,216		14,169			36,200			(55,963	)		–			–		10,691			42,313		5,656
Residential mortgage-backed																–
securities		105,492		(4,114	)		21,893			(37,356	)		(529	)		–		(13,424	)		71,962		(1,324	)
Commercial mortgage-backed
securities		17,568		(2,191	)		32,449			(29,864	)		(1,710	)		–		7,994			24,246		(3,236	)
Other asset-backed securities		12,611		(537	)		17,361			(5,496	)		(438	)		–		21,943			45,444		(569	)
Loans and other receivables		145,890		3,946			92,579			(88,674	)		(26,685	)		–		11,587			138,643		3,382
Investments at fair value		101,242		30,176			30,160			(13,722	)		–			–		(7,404	)		140,452		27,529
Investments in managed funds		57,285		(11,284	)		13,407			–			–			–		(3,289	)		56,119		(11,284	)
Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$	–		$	–		$	–		$	–		$	–	$	–		$	38	$	–
Corporate debt securities		–		(203	)		(28,319	)		31,431			–			–		(129	)		2,780		203
Net derivatives (2)		6,905		11,591			(179	)		(21	)		318			–		(3,332	)		15,282		(11,591	)
Loans		22,462		754			(22,491	)		27,908			139			–		2,762			31,534		(57	)
Other secured financings		8,711		–			–			–			(9,114	)		20,691		–			20,288		–
(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
During the six months ended June 30, 2014, transfers of assets of $95.1 million from Level 2 to Level 3 of the fair value hierarchy are attributed to:
Non-agency residential mortgage-backed securities of $20.9 million, commercial mortgage-backed securities of $8.4 million and other asset-backed securities of $25.5 million for which no recent trade activity was observed for purposes of determining observable inputs;
Loans and other receivables of $14.2 million due to a lower number of contributors comprising vendor quotes to support classification within Level 2;
Corporate equity securities of $11.5 million and corporate debt securities of $.3 million due to lack of observable market transactions;
Collateralized debt obligations of $14.3 million which have little to no transparency in trade activity.
During the six months ended June 30, 2014, transfers of assets of $58.9 million from Level 3 to Level 2 are attributed to:
Non-agency residential mortgage-backed securities of $34.3 million, commercial mortgage-backed securities of $.4 million and other asset-backed securities of $3.5 million for which market trades were observed in the period for either identical or similar securities;
Collateralized debt obligations of $3.6 million, loans and other receivables of $2.6 million and investments at fair value of $7.4 million due to a greater number of contributors for certain vendor quotes supporting classification into Level 2;
Corporate equity securities of $3.6 million and investments in managed funds of $3.5 million due to an increase in observable market transactions.
During the six months ended June 30, 2014, there were transfers of loan liabilities of $2.8 million from Level 2 to Level 3 due to a decrease in observable inputs in the valuation. There were $3.3 million transfers of net derivative liabilities from Level 3 to Level 2 and $.1 million transfers of corporate debt securities from Level 2 to Level 3 due to an increase in observable inputs used in the valuing of derivative contracts and an increase in observable market transactions, respectively.
Net gains on Level 3 assets were $33.7 million and net losses on Level 3 liabilities were $12.1 million for the six months ended June 30, 2014. Net gains on Level 3 assets were primarily due to increased valuations of certain corporate debt securities, collateralized debt obligations, loans and other receivables and investments at fair value, partially offset by a decrease in valuation of certain corporate equity securities, residential and commercial mortgage-backed securities, other asset-backed securities and investments in managed funds. Net losses on Level 3 liabilities were primarily due to increased valuations of certain derivative instruments and loan positions, partially offset by decrease in valuation of certain corporate debt securities.
The following is a summary of changes in fair value of our financial assets and liabilities that have been categorized within Level 3 of the fair value hierarchy for the three and six months ended June 30, 2013 (in thousands):
				Three and Six Months Ended June 30, 2013 (3)
																					Changes in
																					unrealized gains
																					(losses) relating
				Total gains																	to instruments
				(losses)												Net transfers			Balance,		still held at
		Beginning		(realized and												into (out of)			June 30,		June 30,
		Balance		unrealized) (1)			Purchases			Sales			Settlements			Level 3			2014		2013 (1)
Assets:
Trading assets:
Corporate equity securities	$	13,234	$	2,906		$	5,023		$	(2,984	)	$	–		$	1,398		$	19,577	$	2,058
Corporate debt securities		31,820		(2,867	)		918			(11,989	)		–			733			18,615		(2,242	)
Collateralized debt obligations		29,776		6,698			17,864			(6,270	)		–			(2,944	)		45,124		6,148
Residential mortgage-backed
securities		169,426		(86	)		57,750			(71,534	)		(5,436	)		(6,354	)		143,766		(367	)
Commercial mortgage-backed
securities		17,794		(2,905	)		1,403			(2,744	)		(1,578	)		4,098			16,068		(3,835	)
Other asset-backed securities		1,252		(4	)		–			–			–			196			1,444		(4	)
Loans and other receivables		170,986		(5,049	)		160,409			(24,741	)		(188,268	)		4,159			117,496		(6,925	)
Investments at fair value		70,067		(1,197	)		5,000			–			(2,493	)		4,987			76,364		(1,349	)
Investments in managed funds		59,976		(927	)		2,532			–			(6,562	)		122			55,141		(926	)
Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$	–		$	–		$	–		$	–		$	–		$	38	$	–
Residential mortgage-backed
securities		1,542		–			(1,542	)		–			–			–			–		–
Net derivatives (2)		11,185		(386	)		–			–			–			–			10,799		386
Loans		7,398		–			(7,398	)		15,212			–			–			15,212		–
Other secured financings		–		–			–			–			–			2,294			2,294		–
(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
(3)	There were no issuances.
Analysis of Level 3 Assets and Liabilities for the Three and Six Months Ended June 30, 2013
During the three and six months ended June 30, 2013, transfers of assets of $54.9 million from Level 2 to Level 3 of the fair value hierarchy are attributed to:
Non-agency residential mortgage-backed securities of $29.7 million and commercial mortgage-backed securities of $5.6 million for which no recent trade activity was observed for purposes of determining observable inputs;
Loans and other receivables of $6.9 million due to a lower number of contributors comprising vendor quotes to support classification within Level 2;
Corporate equity securities of $2.7 million and corporate debt securities of $2.0 million due to lack of observable market transactions;
Collateralized debt obligations of $2.8 million which have little to no transparency in trade activity.
During the three and six months ended June 30, 2013, transfers of assets of $48.5 million from Level 3 to Level 2 are attributed to:
Non-agency residential mortgage-backed securities of $36.0 million and commercial mortgage-backed securities of $1.5 million for which market trades were observed in the period for either identical or similar securities;
Collateralized debt obligations of $5.7 million and loans and other receivables of $2.7 million due to a greater number of contributors for certain vendor quotes supporting classification into Level 2;
Corporate equity securities of $1.3 million and corporate debt securities of $1.2 million due to an increase in observable market transactions.
During the three and six months ended June 30, 2013, there were $2.3 million of transfers of liabilities from Level 2 to Level 3 and no transfers of liabilities from Level 3 to Level 2.
Net losses on Level 3 assets were $3.4 million and net gains on Level 3 liabilities were $0.4 million for the three and six months ended June 30, 2013. Net losses on Level 3 assets were primarily due to decreased valuations of certain loans and other receivables, commercial mortgage-backed securities, corporate debt securities, investments at fair value, investments in managed funds and residential mortgage-backed securities, partially offset by an increase in valuation of certain collateralized debt obligations and corporate equity securities. Net gains on Level 3 liabilities were primarily due to increased valuations of certain derivative instruments.
Quantitative Information about Significant Unobservable Inputs used in Level 3 Fair Value Measurements
The tables below present information on the valuation techniques, significant unobservable inputs and their ranges for our financial assets and liabilities, subject to threshold levels related to the market value of the positions held, measured at fair value on a recurring basis with a significant Level 3 balance. The range of unobservable inputs could differ significantly across different firms given the range of products across different firms in the financial services sector. The inputs are not representative of the inputs that could have been used in the valuation of any one financial instrument; i.e., the input used for valuing one financial instrument within a particular class of financial instruments may not be appropriate for valuing other financial instruments within that given class. Additionally, the ranges of inputs presented below should not be construed to represent uncertainty regarding the fair values of our financial instruments; rather the ranges of inputs are reflective of the differences in the underlying characteristics of the financial instruments in each category.
For certain categories, we have provided a weighted average of the inputs allocated based on the fair values of the financial instruments comprising the category. We do not believe that the range or weighted average of the inputs is indicative of the reasonableness of uncertainty of our Level 3 fair values. The range and weighted average are driven by the individual financial instruments within each category and their relative distribution in the population. The disclosed inputs when compared with the inputs as disclosed in other quarters should not be expected to necessarily be indicative of changes in our estimates of unobservable inputs for a particular financial instrument as the population of financial instruments comprising the category will vary from period to period based on purchases and sales of financial instruments during the period as well as transfers into and out of Level 3 each period.
30-Jun-14
	Fair Value		Valuation	Significant					Weighted
Financial Instruments Owned	(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
Corporate equity securities	$	16,402
Non-exchange traded securities			Market approach	EBITDA (a) multiple		3.3to 3.50			3.5
Corporate debt securities	$	29,739
			Scenario analysis	Estimated recovery percentage		25% to 50%			42	%
Collateralized debt obligations	$	40,213
			Discounted cash flows	Constant prepayment rate		10% to 20%			13	%
				Constant default rate		0% to 3%			2	%
				Loss severity		30% to 85%			57	%
				Yield		5% to 43%			20	%
Residential mortgage-backed securities	$	71,962
			Discounted cash flows	Constant prepayment rate		1% to 50%			13	%
				Constant default rate		1% to 100%			20	%
				Loss severity		0% to 90%			50	%
				Yield		3% to 14%			9	%
Commercial mortgage-backed securities	$	24,246
			Discounted cash flows	Yield		9% to 18%			12	%
				Cumulative loss rate		0% to 9%			4	%
Other asset-backed securities	$	45,444
			Comparable pricing	Comparable bond price	$	100			–
			Discounted cash flows	Constant prepayment rate		0	%		–
				Constant default rate		0	%		–
				Loss severity		0	%		–
				Yield		4	%		–
Loans and other receivables	$	130,068
			Comparable pricing	Comparable bond or loan price	$	93.50to $100.375		$	98
			Market approach	Yield		3% to 4%			4	%
				EBITDA (a) multiple		3to 8			6
			Scenario analysis	Estimated recovery percentage		10% to 100%			88	%
Derivatives	$	913
Forward contract			Comparable pricing	Comparable loan price	$	100.38			–
Investments at fair value	$	48,844
Private equity securities			Comparable pricing	Comparable share price	$	27			–
			Market approach	Discount rate		15% to 30%			23	%
	Fair Value		Valuation	Significant					Weighted
Trading Liabilities	(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
Corporate debt securities	$	2,780
			Comparable pricing	Comparable bond price	$	30			–
Derivatives	$	15,033
Unfunded commitments			Comparable pricing	Comparable loan price	$	92.25to $102.20		$	94
Loans	$	31,534
			Comparable pricing	Comparable loan price	$	100.38			–
31-Dec-13
		Fair Value		Valuation	Significant					Weighted
Financial Instruments Owned		(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
Corporate equity securities		$	8,034
Non-exchange traded securities				Market approach	EBITDA (a) multiple		4.0to 5.5			4.53
Warrants				Option model	Volatility		36	%		–
Corporate debt securities		$	17,699
				Scenario analysis	Estimated recovery percentage		24	%		–
				Comparable pricing	Comparable bond or loan price	$	69.10to $70.50		$	69.91
				Market approach	Yield		13	%		–
Collateralized debt obligations		$	34,316
				Discounted cash flows	Constant prepayment rate		0% to 20%			13	%
					Constant default rate		2% to 3%			2	%
					Loss severity		30% to 85%			38	%
					Yield		3% to 91%			28	%
Residential mortgage-backed securities		$	105,492
				Discounted cash flows	Constant prepayment rate		2% to 50%			11	%
					Constant default rate		1% to 100%			17	%
					Loss severity		30% to 90%			48	%
					Yield		0% to 20%			7	%
Commercial mortgage-backed securities		$	17,568
				Discounted cash flows	Yield		12% to 20%			14	%
					Cumulative loss rate		5% to 28.2%			11	%
Other asset-backed securities		$	12,611
				Discounted cash flows	Constant prepayment rate		4% to 30%			17	%
					Constant default rate		2% to 11%			7	%
					Loss severity		40% to 92%			64	%
					Yield		3% to 29%			18	%
Loans and other receivables		$	101,931
				Comparable pricing	Comparable bond or loan price	$	91to $101		$	98.9
				Market approach	Yield		8.75% to 13.5%			10	%
					EBITDA (a) multiple		6.9			–
				Scenario analysis	Estimated recovery percentage		16.9% to 92%			74	%
Derivatives		$	1,493
Loan commitments				Comparable pricing	Comparable bond or loan price	$	100.875			–
Investments at fair value		$	30,203
Private equity securities				Comparable pricing	Comparable share price	$	414			–
				Market approach	Discount rate		15% to 30%			23	%
		Fair Value		Valuation	Significant					Weighted
Trading Liabilities		(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
Derivatives		$	8,398
Equity options				Option model	Volatility		36.25% to 41%			39	%
Loans		$	8,106	Comparable pricing	Comparable bond or loan price	$	101.88			–
(a) Earnings before interest, taxes, depreciation and amortization ("EBITDA").
The fair values of certain Level 3 assets and liabilities that were determined based on third-party pricing information, unadjusted past transaction prices, reported net asset value or a percentage of the reported enterprise fair value are excluded from the above table. At June 30, 2014 and December 31, 2013, asset exclusions consisted of $104.2 million and $127.7 million, respectively, primarily comprised of investments in private equity securities, investments in reinsurance contracts and certain corporate loans. At June 30, 2014 and December 31, 2013, liability exclusions consisted of $1.2 million and $14.4 million, respectively, of corporate loan commitments.
Sensitivity of Fair Values to Changes in Significant Unobservable Inputs
For recurring fair value measurements categorized within Level 3 of the fair value hierarchy, the sensitivity of the fair value measurement to changes in significant unobservable inputs and interrelationships between those unobservable inputs (if any) are described below:
Private equity securities, corporate debt securities, loans and other receivables and loan commitments using comparable pricing valuation techniques. A significant increase (decrease) in the comparable share, bond or loan price in isolation would result in a significant higher (lower) fair value measurement.
Non-exchange traded securities, corporate debt securities, and loans and other receivables using a market approach valuation technique. A significant increase (decrease) in the EBITDA or other multiples in isolation would result in a significantly higher (lower) fair value measurement. A significant increase (decrease) in the yield of a corporate debt security, loan and other receivable would result in a significantly lower (higher) fair value measurement. A significant increase (decrease) in the discount rate of a private equity security would result in a significantly lower (higher) fair value measurement.
Corporate debt securities and loans and other receivables using scenario analysis. A significant increase (decrease) in the possible recovery rates of the cash flow outcomes underlying the investment would result in a significantly higher (lower) fair value measurement for the financial instrument.
Collateralized debt obligations, residential and commercial mortgage-backed securities and other asset-backed securities using a discounted cash flow valuation technique. A significant increase (decrease) in isolation in the constant default rate, loss severities or cumulative loss rate and discount rate would result in a significantly lower (higher) fair value measurement. The impact of changes in the constant prepayment rate would have differing impacts depending on the capital structure of the security. A significant increase (decrease) in the loan or bond yield would result in a significant lower (higher) fair value measurement.
Derivative equity options and equity warrants using an option model. A significant increase (decrease) in volatility would result in a significant higher (lower) fair value measurement.
Private equity securities using a net asset value technique. As significant increase (decrease) in the discount applied to net asset value would result in a significant (lower) higher fair value measurement.
Fair Value Option Election
We have elected the fair value option for all loans and loan commitments made by Jefferies capital markets businesses. These loans and loan commitments include loans entered into by Jefferies investment banking division in connection with client bridge financing and loan syndications, loans purchased by Jefferies leveraged credit trading desk as part of its bank loan trading activities and mortgage loan commitments and fundings in connection with mortgage-backed securitization activities. Loans and loan commitments originated or purchased by Jefferies leveraged credit and mortgage-backed businesses are managed on a fair value basis. Loans are included in Trading assets and loan commitments are included in Trading assets -Derivatives and Trading liabilities – Derivatives. The fair value option election is not applied to loans made to affiliate entities as such loans are entered into as part of ongoing, strategic business ventures. Loans to affiliate entities are included within Loans to and investments in associated companies and are accounted for on an amortized cost basis. We have also elected the fair value option for certain financial instruments held by Jefferies subsidiaries as the investments are risk managed on a fair value basis. The fair value option has also been elected for certain secured financings that arise in connection with Jefferies securitization activities and other structured financings.
The following is a summary of gains (losses) due to changes in instrument specific credit risk on loans and other receivables and loan commitments measured at fair value under the fair value option for the three and six months ended June 30, 2014 and 2013 (in thousands):
		For the Three			For the Six			For the Three
		Month			Month			and Six Month
		Period Ended			Period Ended			Periods Ended
		30-Jun-14			30-Jun-14			30-Jun-13
Financial Instruments Owned:
Loans and other receivables	$	2,038		$	1,430		$	13,474
Financial Instruments Sold:
Loans	$	(1,555	)	$	(2,591	)	$	–
Loan commitments	$	(9,024	)	$	(11,090	)	$	(5,421	)
The following is a summary of the amount by which contractual principal exceeds fair value for loans and other receivables measured at fair value under the fair value option (in thousands):
		June 30,		December 31,
		2014		2013
Loans and other receivables (2)	$	276,420	$	264,896
Loans greater than 90 days past due (1) (2)	$	–	$	–
(1)	The aggregate fair value of loans that were 90 or more days past due was $0.0 million and $0.0 million at June 30, 2014 and December 31, 2013, respectively.
(2)	Interest income is recognized separately from other changes in fair value and is included within Interest income in the Consolidated Statements of Operations.
There were no loan receivables on nonaccrual status at June 30, 2014 and December 31, 2013.
Prior to the completion of the Jefferies acquisition, we elected the fair value option for our investment in Jefferies, commencing on the date Jefferies became subject to the equity method of accounting. The increase in the fair value of our investment in Jefferies prior to the acquisition was $182.7 million during the six month 2013 period.
We have elected the fair value option for Jefferies investment in Knight Capital Group, Inc., acquired by Jefferies during 2012. On July 1, 2013, Knight Capital completed its previously announced merger with GETCO Holding Company, LLC; as a result KCG Holdings, Inc. became the new public parent of both entities. Although no longer subject to the equity method of accounting, KCG Holdings continues to be accounted for at fair value consistent with the election made for all of Jefferies trading assets. The change in the fair value of this investment was $7.6 million and $6.6 million for the three and six months ended June 30, 2014, respectively.
As of June 30, 2014, we own approximately 41.6 million common shares of Harbinger Group Inc. ("Harbinger"), representing approximately 20% of Harbinger's outstanding common shares, which are accounted for under the fair value option. The shares were acquired at an aggregate cost of $411.1 million. In addition, we currently have the right to appoint two directors to Harbinger's board; such directors were appointed on July 1, 2014. We have agreed not to increase our interest in Harbinger above 27.5% for a period of two years. The shares have the benefit of a registration rights agreement, and may be otherwise sold pursuant to securities laws; however, we have agreed not to sell the shares to a party if after such sale the party would own in excess of 4.9% of Harbinger common stock.
We believe accounting for these investments at fair value better reflected the economics of these investments, and quoted market prices for these investments provided an objectively determined fair value at each balance sheet date. Our investment in HomeFed is the only other investment accounted for under the equity method of accounting that is also a publicly traded company for which we did not elect the fair value option. HomeFed's common stock is not listed on any stock exchange, and price information for the common stock is not regularly quoted on any automated quotation system. It is traded in the over-the-counter market with high and low bid prices published by the National Association of Securities Dealers OTC Bulletin Board Service; however, trading volume is minimal. For these reasons we did not elect the fair value option for HomeFed.

Derivative_Financial_Instrumen

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2014
Derivative Financial Instruments [Abstract]	'
Derivative Financial Instruments	'
	Note 6. Derivative Financial Instruments
	Off-Balance Sheet Risk
	Jefferies has contractual commitments arising in the ordinary course of business for securities loaned or purchased under agreements to resell, repurchase agreements, future purchases and sales of foreign currencies, securities transactions on a when-issued basis and underwriting. Each of these financial instruments and activities contains varying degrees of off-balance sheet risk whereby the fair values of the securities underlying the financial instruments may be in excess of, or less than, the contract amount. The settlement of these transactions is not expected to have a significant effect upon our consolidated financial statements.
	Derivative Financial Instruments
	Derivative activities are recorded at fair value in the Consolidated Statements of Financial Condition in Trading assets –Derivatives and Trading liabilities – Derivatives, net of cash paid or received under credit support agreements and on a net counterparty basis when a legal right to offset exists under a master netting agreement. Net realized and unrealized gains and losses are recognized in the Consolidated Statements of Operations on a trade date basis and as a component of cash flows from operating activities in the Consolidated Statements of Cash Flows. Acting in a trading capacity, Jefferies may enter into derivative transactions to satisfy the needs of its clients and to manage its own exposure to market and credit risks resulting from trading activities. (See Notes 5 and 23 for additional disclosures about derivative instruments.)
	Derivatives are subject to various risks similar to other financial instruments, including market, credit and operational risk. The risks of derivatives should not be viewed in isolation, but rather should be considered on an aggregate basis along with our other trading-related activities. Jefferies manages the risks associated with derivatives on an aggregate basis along with the risks associated with proprietary trading as part of its firm wide risk management policies. In connection with Jefferies derivative activities, Jefferies may enter into International Swaps and Derivative Association, Inc. ("ISDA") master netting agreements or similar agreements with counterparties. These agreements provide Jefferies with the ability to offset a counterparty's rights and obligations, request additional collateral when necessary or liquidate the collateral in the event of counterparty default. See Note 12 for additional information with respect to financial statement offsetting.
	The following tables present the fair value and related number of derivative contracts categorized by type of derivative contract as reflected in the Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013. The fair value of assets/liabilities related to derivative contracts represents our receivable/payable for derivative financial instruments, gross of counterparty netting and cash collateral received and pledged (in thousands, except contract amounts):
		30-Jun-14
			Assets				Liabilities
					Number of				Number of
			Fair Value		Contracts		Fair Value		Contracts
	Interest rate contracts	$	1,672,195		48,853	$	1,678,742		67,733
	Foreign exchange contracts		474,633		64,945		488,763		62,943
	Equity contracts		553,622		1,820,612		555,213		1,751,789
	Commodity contracts		196,560		848,890		221,075		841,714
	Credit contracts: centrally cleared swaps		3,386		4		6,550		9
	Credit contracts: other credit derivatives		1,295		15		23,022		31
	Total		2,901,691				2,973,365
	Counterparty/cash-collateral netting		(2,648,507	)			(2,747,077	)
	Total per Consolidated Statement of Financial Condition	$	253,184			$	226,288
		31-Dec-13
			Assets				Liabilities
					Number of				Number of
			Fair Value		Contracts		Fair Value		Contracts
	Interest rate contracts	$	1,165,977		63,967	$	1,131,166		77,338
	Foreign exchange contracts		653,772		118,707		693,658		112,417
	Equity contracts		501,784		1,742,343		474,985		1,800,603
	Commodity contracts		141,280		797,529		173,119		788,717
	Credit contracts: centrally cleared swaps		49,531		49		51,632		46
	Credit contracts: other credit derivatives		2,339		16		8,130		19
	Total		2,514,683				2,532,690
	Counterparty/cash-collateral netting		(2,253,589	)			(2,352,611	)
	Total per Consolidated Statement of Financial Condition	$	261,094			$	180,079
	The following table presents unrealized and realized gains (losses) on derivative contracts for the three and six months ended June 30, 2014 and 2013 (in thousands):
			For the Three			For the Six			For the Three
			Month			Month			and Six Month
			Period Ended			Period Ended			Periods Ended
			30-Jun-14			30-Jun-14			30-Jun-13
	Interest rate contracts	$	(49,738	)	$	(49,946	)	$	29,381
	Foreign exchange contracts		(4,281	)		1,156			4,135
	Equity contracts		(73,529	)		(164,630	)		33,892
	Commodity contracts		21,794			37,980			21,513
	Credit contracts		(11,441	)		(15,330	)		(11,010	)
	Total	$	(117,195	)	$	(190,770	)	$	77,911
	OTC Derivatives. The following tables set forth by remaining contract maturity the fair value of OTC derivative assets and liabilities as reflected in the Consolidated Statement of Financial Condition at June 30, 2014 (in thousands):
		OTC Derivative Assets (1) (2) (4)
									Cross-
							Greater Than		Maturity
			0-12 Months		1-5 Years		5 Years		Netting (3)			Total
	Commodity swaps, options and forwards	$	52,226	$	1,435	$	–	$	–		$	53,661
	Equity swaps and options		1,297		–		–		–			1,297
	Total return swaps		6,559		–		–		–			6,559
	Foreign currency forwards, swaps and options		85,715		15,283		51		(14,167	)		86,882
	Interest rate swaps, options and forwards		80,802		114,082		129,218		(70,493	)		253,609
	Total	$	226,599	$	130,800	$	129,269	$	(84,660	)		402,008
	Cross product counterparty netting											(17,810	)
	Total OTC derivative assets included in
	Trading assets										$	384,198
	(1)	At June 30, 2014, we held exchange traded derivative assets and other credit agreements with a fair value of $11.6 million, which are not included in this table.
	(2)	OTC derivative assets in the table above are gross of collateral received. OTC derivative assets are recorded net of collateral received in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral received was $143.0 million.
	(3)	Amounts represent the netting of receivable balances with payable balances for the same counterparty within product category across maturity categories.
	(4)	Derivative fair values include counterparty netting within product category.
		OTC Derivative Liabilities (1) (2) (4)
								Cross-
						Greater Than		Maturity
		0-12 Months		1-5 Years		5 Years		Netting (3)			Total
Commodity swaps, options and forwards	$	78,158	$	9,117	$	–	$	–		$	87,275
Credit default swaps		51		8,744		898		–			9,693
Equity swaps and options		–		–		9,300		–			9,300
Total return swaps		2,200		–		–		–			2,200
Foreign currency forwards, swaps and options		88,516		16,380		–		(14,167	)		90,729
Interest rate swaps, options and forwards		56,392		111,734		166,652		(70,493	)		264,285
Total	$	225,317	$	145,975	$	176,850	$	(84,660	)		463,482
Cross product counterparty netting											(17,810	)
Total OTC derivative liabilities included in
Trading liabilities										$	445,672
(1)	At June 30, 2014, we held exchange traded derivative liabilities and other credit agreements with a fair value of $22.2 million, which are not included in this table.
(2)	OTC derivative liabilities in the table above are gross of collateral pledged. OTC derivative liabilities are recorded net of collateral pledged in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral pledged was $241.6 million.
(3)	Amounts represent the netting of receivable balances with payable balances for the same counterparty within product category across maturity categories.
(4)	Derivative fair values include counterparty netting within product category.
At June 30, 2014, the counterparty credit quality with respect to the fair value of our OTC derivative assets was as follows (in thousands):
Counterparty credit quality (1):
A- or higher	$	179,090
BBB- to BBB+		52,347
BB+ or lower		82,789
Unrated		69,972
Total	$	384,198
(1) We utilize internal credit ratings determined by Jefferies Risk Management. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies.
Contingent Features
Certain of Jefferies derivative instruments contain provisions that require their debt to maintain an investment grade credit rating from each of the major credit rating agencies. If Jefferies debt were to fall below investment grade, it would be in violation of these provisions and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on Jefferies derivative instruments in liability positions. The aggregate fair value of all derivative instruments with such credit-risk-related contingent features that are in a liability position at June 30, 2014 and December 31, 2013 is $47.3 million and $170.2 million, respectively, for which Jefferies has posted collateral of $42.4 million and $127.7 million, respectively, in the normal course of business. If the credit-risk-related contingent features underlying these agreements were triggered on June 30, 2014 and December 31, 2013, Jefferies would have been required to post an additional $5.6 million and $49.4 million, respectively, of collateral to its counterparties.

Collateralized_Transactions

Collateralized Transactions	6 Months Ended
	Jun. 30, 2014
Collateralized Transactions [Abstract]	'
Collateralized Transactions	'
	Note 7. Collateralized Transactions
	Jefferies enters into secured borrowing and lending arrangements to obtain collateral necessary to effect settlement, finance trading asset inventory positions, meet customer needs or re-lend as part of dealer operations. Jefferies monitors the fair value of the securities loaned and borrowed on a daily basis as compared with the related payable or receivable, and requests additional collateral or returns excess collateral, as appropriate. Jefferies pledges financial instruments as collateral under repurchase agreements, securities lending agreements and other secured arrangements, including clearing arrangements. Jefferies agreements with counterparties generally contain contractual provisions allowing the counterparty the right to sell or repledge the collateral. Pledged securities owned that can be sold or repledged by the counterparty are included within Financial instruments owned and noted parenthetically as Securities pledged on our Consolidated Statements of Financial Condition.
	Jefferies receives securities as collateral under resale agreements, securities borrowing transactions and customer margin loans. Jefferies also receives securities as collateral in connection with securities-for-securities transactions in which it is the lender of securities. In many instances, Jefferies is permitted by contract or custom to rehypothecate the securities received as collateral. These securities may be used to secure repurchase agreements, enter into securities lending transactions, satisfy margin requirements on derivative transactions or cover short positions. At June 30, 2014 and December 31, 2013, the approximate fair value of securities received as collateral by Jefferies that may be sold or repledged was $22.5 billion and $21.9 billion, respectively. A substantial portion of these securities have been sold or repledged.
	In instances where Jefferies receives securities as collateral in connection with securities-for-securities transactions in which Jefferies is the lender of securities and is permitted to sell or repledge the securities received as collateral, it reports the fair value of the collateral received and the related obligation to return the collateral in the Consolidated Statements of Financial Condition. At June 30, 2014 and December 31, 2013, $126.1 million and $11.1 million, respectively, were reported as Securities received as collateral and as Obligation to return securities received as collateral.

Securitization_Activities

Securitization Activities	6 Months Ended
	Jun. 30, 2014
Securitization Activities [Abstract]	'
Securitization Activities	'
	Note 8. Securitization Activities
	Jefferies engages in securitization activities related to corporate loans, commercial mortgage loans and mortgage-backed and other asset-backed securities. In securitization transactions, Jefferies transfers assets to special purpose entities ("SPEs") and acts as the placement or structuring agent for the beneficial interests sold to investors by the SPE. A significant portion of the securitization transactions are securitization of assets issued or guaranteed by U.S. government agencies. These SPEs generally meet the criteria of variable interest entities; however the SPEs are generally not consolidated as Jefferies is not considered the primary beneficiary for these SPEs. See Note 10 for further information on variable interest entities.
	Jefferies accounts for securitization transactions as sales provided it has relinquished control over the transferred assets. Transferred assets are carried at fair value with unrealized gains and losses reflected in the Consolidated Statements of Operations prior to the identification and isolation for securitization. Revenues subsequent to such identification and isolation, including revenues recognized from the sales of the beneficial interests to investors, are reflected as net underwriting revenues. If Jefferies has not relinquished control over the transferred assets, the assets continue to be recognized in Trading assets and a corresponding secured borrowing is recognized in Other secured financings. The related liabilities do not have recourse to Jefferies general credit.
	Jefferies generally receives cash proceeds in connection with the transfer of assets to an SPE. Jefferies may, however, have continuing involvement with the transferred assets, which is limited to retaining one or more tranches of the securitization (primarily senior and subordinated debt securities), which are included within Trading assets. We apply fair value accounting to the securities.
	The following table presents activity related to our securitizations that were accounted for as sales in which we had continuing involvement during the three and six months ended June 30, 2014 and 2013 (in millions):
			For the Three		For the Six		For the Three
			Month		Month		and Six Month
			Period Ended		Period Ended		Periods Ended
			30-Jun-14		30-Jun-14		30-Jun-13
	Transferred assets	$	1,599.70	$	3,226.60	$	2,184.00
	Proceeds on new securitizations		1,600.10		3,228.20		2,190.90
	Net revenues		0.9		1.6		4.8
	Cash flows received on retained interests		20.4		28.9		11.1
	Assets received as proceeds in the form of mortgage-backed securities or collateralized loan obligations issued by the SPEs have been initially categorized as Level 2 within the fair value hierarchy. For further information on fair value measurements and the fair value hierarchy, see Notes 2 and 5. Jefferies has no explicit or implicit arrangements to provide additional financial support to these SPEs and has no liabilities related to these SPEs at June 30, 2014 and December 31, 2013. Although not obligated, in connection with secondary market-making activities Jefferies may make a market in the securities issued by these SPEs. In these market-making transactions, Jefferies buys these securities from and sells these securities to investors. Securities purchased through these market-making activities are not considered to be continuing involvement in these SPEs, although the securities are included in Trading assets. To the extent the securities purchased through these market-making activities meet specific thresholds and Jefferies is not deemed to be the primary beneficiary of the variable interest entity, these securities are included in agency and non-agency mortgage- and asset-backed securitizations in the nonconsolidated variable interest entities table presented in Note 10.
	The following table summarizes our retained interests in SPEs where Jefferies transferred assets and has continuing involvement and received sale accounting treatment (in millions):
			30-Jun-14				31-Dec-13
			Total		Retained		Total		Retained
	Securitization Type		Assets		Interests		Assets		Interests
	U.S. government agency residential mortgage-backed securities	$	11,466.70	$	254.3	$	11,518.40	$	281.3
	U.S. government agency commercial mortgage-backed securities		3,655.20		100.2		5,385.60		96.8
	Collateralized loan obligations		728.5		8.6		728.5		9
	Jefferies does not have any outstanding derivative contracts executed in connection with these securitization activities. Total assets represent the unpaid principal amount of assets in the SPEs in which Jefferies has continuing involvement and are presented solely to provide information regarding the size of the transaction and the size of the underlying assets supporting its retained interests, and are not considered representative of the risk of potential loss. Assets retained in connection with a securitization transaction represent the fair value of the securities of one or more tranches issued by an SPE, including senior and subordinated tranches. Jefferies risk of loss is limited to this fair value amount which is included within total Trading assets in our Consolidated Statements of Financial Condition.

Available_For_Sale_Securities

Available For Sale Securities	6 Months Ended
	Jun. 30, 2014
Available For Sale Securities [Abstract]	'
Available For Sale Securities	'
	Note 9. Available for Sale Securities
	The amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as available for sale at June 30, 2014 and December 31, 2013 are as follows (in thousands):
					Gross		Gross		Estimated
			Amortized		Unrealized		Unrealized		Fair
			Cost		Gains		Losses		Value
	30-Jun-14
	Bonds and notes:
	U.S. government securities	$	945,739	$	136	$	3	$	945,872
	Residential mortgage-backed securities		574,369		11,095		843		584,621
	Commercial mortgage-backed securities		48,260		896		29		49,127
	Other asset-backed securities		222,678		926		395		223,209
	All other corporates		38,041		335		8		38,368
	Total fixed maturities		1,829,087		13,388		1,278		1,841,197
	Equity securities:
	Common stocks:
	Banks, trusts and insurance companies		22,842		29,222		–		52,064
	Industrial, miscellaneous and all other		22,264		28,955		–		51,219
	Total equity securities		45,106		58,177		–		103,283
		$	1,874,193	$	71,565	$	1,278	$	1,944,480
	31-Dec-13
	Bonds and notes:
	U.S. government securities	$	1,781,052	$	226	$	12	$	1,781,266
	Residential mortgage-backed securities		570,642		9,946		1,426		579,162
	Commercial mortgage-backed securities		18,271		13		299		17,985
	Other asset-backed securities		183,593		627		184		184,036
	All other corporates		50,933		267		37		51,163
	Total fixed maturities		2,604,491		11,079		1,958		2,613,612
	Equity securities:
	Common stocks:
	First Quantum Minerals Ltd.		154,281		–		5,616		148,665
	Banks, trusts and insurance companies		22,980		27,562		–		50,542
	Industrial, miscellaneous and all other		21,012		32,312		–		53,324
	Total equity securities		198,273		59,874		5,616		252,531
		$	2,802,764	$	70,953	$	7,574	$	2,866,143
	The amortized cost and estimated fair value of investments classified as available for sale at June 30, 2014, by contractual maturity, are shown below. Expected maturities are likely to differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
			Amortized		Estimated
			Cost		Fair Value
			(In thousands)
	Due within one year	$	962,776	$	962,973
	Due after one year through five years		21,004		21,267
	Due after five years through ten years		–		–
	Due after ten years		–		–
			983,780		984,240
	Mortgage-backed and asset-backed securities		845,307		856,957
		$	1,829,087	$	1,841,197
	At June 30, 2014, the unrealized losses on investments which have been in a continuous unrealized loss position for less than 12 months and 12 months or longer were not significant.
	As more fully discussed in the 2013 10-K, during the first quarter of 2013 we exchanged our investment in Inmet Mining Corporation for 18,202,313 shares of First Quantum, valued at $340.4 million on the date received, and $391.2 million in cash. We recorded a gain on the transaction of $227.6 million. During 2013 and 2014, we sold our interest in First Quantum.

Variable_Interest_Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities [Abstract]	'
Variable Interest Entities	'
	Note 10. Variable Interest Entities
	Variable interest entities ("VIEs") are entities in which equity investors lack the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. VIEs are consolidated by the primary beneficiary. The primary beneficiary is the party who has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity.
	We determine whether we are the primary beneficiary of a VIE upon our initial involvement with the VIE and we reassess whether we are the primary beneficiary of a VIE on an ongoing basis. Our determination of whether we are the primary beneficiary of a VIE is based upon the facts and circumstances for each VIE and requires significant judgment. In determining whether we are the party with the power to direct the VIE's most significant activities, we first identify the activities of the VIE that most significantly impact its economic performance. Our considerations in determining the VIE's most significant activities primarily include, but are not limited to, the VIE's purpose and design and the risks passed through to investors. We then assess whether we have the power to direct those significant activities. Our considerations in determining whether we have the power to direct the VIE's most significant activities include, but are not limited to, voting interests of the VIE, management, service and/or other agreements of the VIE, involvement in the VIE's initial design and the existence of explicit or implicit financial guarantees. In situations where we have determined that the power over the VIE's most significant activities is shared, we assess whether we are the party with the power over the majority of the significant activities. If we are the party with the power over the majority of the significant activities, we meet the "power" criteria of the primary beneficiary. If we do not have the power over a majority of the significant activities or we determine that decisions require consent of each sharing party, we do not meet the "power" criteria of the primary beneficiary.
	We assess our variable interests in a VIE both individually and in aggregate to determine whether we have an obligation to absorb losses of or a right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether our variable interest is significant to the VIE requires significant judgment. In determining the significance of our variable interest, we consider the terms, characteristics and size of the variable interests, the design and characteristics of the VIE, our involvement in the VIE and our market-making activities related to the variable interests. Our variable interests in VIEs include debt and equity interests, commitments and certain fees. Our involvement with VIEs arises primarily from the following activities of Jefferies:
	Purchases of mortgage-backed securities and collateralized debt and loan obligations in connection with our trading and secondary market-making activities,
	Retained interests held as a result of securitization activities as part of primary market-making activities, including the resecuritizations of mortgage-backed securities and the securitization of corporate loans,
	Financing of agency and non-agency mortgage-securities through financing vehicles utilizing master repurchase agreements,
	Management and performance fees in the Jefferies Umbrella Fund, and
	Loans to and investments in investment fund vehicles.
	Consolidated VIEs
	The following tables present information about the assets and liabilities of our consolidated VIEs, which are presented within our Consolidated Statements of Financial Condition in the respective asset and liability categories, as of June 30, 2014 and December 31, 2013.
		Securitization Vehicles
		June 30,		December 31,
		2014		2013
		(In millions)
	Cash	$	–	$	–
	Financial instruments owned		–		97.5
	Securities purchased under agreement to resell (1)		220		195.1
	Other		–		2.3
	Total assets	$	220	$	294.9
	Other secured financings (2)	$	220	$	292.5
	Other		–		2.1
	Total liabilities	$	220	$	294.6
	(1)	Securities purchased under agreement to resell represent an amount due under a collateralized transaction on a related consolidated entity, which is eliminated in consolidation.
	(2)	Approximately $66.5 million of the secured financing represents an amount held by Jefferies in inventory and eliminated in consolidation at December 31, 2013.
	Securitization vehicles. Jefferies is the primary beneficiary of mortgage-backed financing vehicles to which Jefferies sells agency and non-agency residential and commercial mortgage-backed securities pursuant to the terms of a master repurchase agreement. Jefferies manages the assets within these vehicles. Jefferies variable interests in these vehicles consist of its collateral margin maintenance obligations under the master repurchase agreement. The assets of these VIEs consist of reverse repurchase agreements, which are available for the benefit of the vehicle's debt holders. The creditors of these VIEs do not have recourse to Jefferies general credit.
	At December 31, 2013, Jefferies was the primary beneficiary of a securitization vehicle to which it transferred a corporate loan and retained a portion of the securities issued by the securitization vehicle. Its variable interests in this vehicle consisted of the securities retained. The assets of the VIE consisted of a corporate loan, which is available for the benefit of the vehicle's beneficial interest holders. During the second quarter of 2014, the loan was repaid, the securities issued by the securitization vehicle were redeemed and the securitization vehicle was terminated. As a result, the securitization vehicle is no longer consolidated by us at June 30, 2014 and no gain or loss was recognized upon deconsolidation.
	Nonconsolidated VIEs
	Jefferies also holds variable interests in VIEs in which it is not the primary beneficiary and does not have the power to direct the activities that most significantly impact their economic performance and, accordingly, do not consolidate. Jefferies has not provided financial or other support to these VIEs and has no explicit or implicit arrangements to provide additional financial support to these VIEs at June 30, 2014 and December 31, 2013.
	The following tables present information about nonconsolidated VIEs in which Jefferies has variable interests aggregated by principal business activity. The tables include VIEs where Jefferies has determined that the maximum exposure to loss is greater than specific thresholds or meets certain other criteria.
		30-Jun-14
			Variable Interests
			Financial Statement			Maximum
			Carrying Amount			Exposure to Loss				VIE Assets
			Assets	Liabilities
		(In millions)
	Collateralized loan obligations (1)	$	174.1	$	0.3	$	678.2		$	3,564.60
	Agency mortgage- and asset-backed securitizations (2) (3)		859.4		–		859.4	-5		13,570.60
	Non-agency mortgage- and asset-backed securitizations (2) (3)		956.3		–		956.3	-5		217,889.80
	Asset management vehicle (4)		3.6		–		3.6	-5		394.6
	Private equity vehicles (4)		45.2		–		61.4			94.8
	Total	$	2,038.60	$	0.3	$	2,558.90		$	235,514.40
		31-Dec-13
			Variable Interests
			Financial Statement			Maximum
			Carrying Amount			Exposure to Loss				VIE Assets
			Assets	Liabilities
		(In millions)
	Collateralized loan obligations (1)	$	11.9	$	0.2	$	88.8		$	1,122.30
	Agency mortgage- and asset-backed securitizations (2) (3)		1,226.00		–		1,226.00	-5		5,857.30
	Non-agency mortgage- and asset-backed securitizations (2) (3)		840.1		–		840.1	-5		78,070.80
	Asset management vehicle (4)		3.5		–		3.5	-5		454.2
	Private equity vehicles (4)		40.8		–		68.8			89.4
	Total	$	2,122.30	$	0.2	$	2,227.20		$	85,594.00
	(1)	Assets consist of debt securities and participation interests in corporate loans accounted for at fair value, which are included within Trading assets. Liabilities consist of forward sale agreements and a guarantee provided to a CLO managed by Jefferies Finance, which are accounted for at fair value and included within Trading liabilities.
	(2)	VIE assets represent the unpaid principal balance of the assets in these vehicles at June 30, 2014 and December 31, 2013 and represent the underlying assets that provide the cash flows supporting our variable interests.
	(3)	Assets consist of debt securities accounted for at fair value, which are included within Trading assets.
	(4)	Assets consist of equity interests, which are included within Investments in managed funds.
	(5)	Our maximum exposure to loss in these non-consolidated VIEs is limited to our investment, which is represented by the financial statement carrying amount of our purchased or retained interests.
	Collateralized Loan Obligations. Jefferies acts as transferor and underwriter in collateralized loan obligations ("CLOs") transactions and retains securities representing variable interests in the CLOs. Assets collateralizing the CLOs include bank loans, participation interests and sub-investment grade and senior secured U.S. loans. Jefferies also enters into forward sale agreements and master participation agreements with CLOs. Under forward sale agreements, Jefferies commits to sell, at a fixed price, corporate loans and ownership interests in an entity holding such corporate loans to a CLO. Under master participation agreements, Jefferies purchases participation interests in corporate loans held by a CLO. In addition, Jefferies owns variable interests in CLOs previously managed by Jefferies. These variable interests consist of debt securities and a right to a portion of the CLOs' management and incentive fees. Jefferies exposure to loss from these CLOs is limited to its investments in the debt securities held. Management and incentives fees are accrued as the amounts become realizable. These CLOs represent interests in assets consisting primarily of senior secured loans, unsecured loans and high yield bonds. Jefferies has also provided a guarantee to a CLO managed by Jefferies Finance, whereby it guarantees certain of the obligations of Jefferies Finance to the CLO.
	Mortgage- and Asset-Backed Vehicles. In connection with Jefferies trading and market-making activities, Jefferies buys and sells mortgage- and asset-backed securities. Mortgage- and asset-backed securities issued by securitization entities are generally considered variable interests in VIEs. A substantial portion of Jefferies variable interests in mortgage- and asset-backed VIEs are sponsored by unrelated third parties. The variable interests consist entirely of mortgage- and asset-backed securities and are accounted for at fair value and included in Trading assets in our Consolidated Statements of Financial Condition. In addition to the agency mortgage- and asset-backed securities, non-agency mortgage- and asset-backed securities and collateralized loan obligations at June 30, 2014 and December 31, 2013 presented in the above table, Jefferies owned additional securities issued by securitization SPEs for which the maximum exposure to loss is less than specific thresholds. These additional securities were acquired in connection with Jefferies secondary market-making activities and securitization activities.
	Asset Management Vehicle. Jefferies manages the Jefferies Umbrella Fund, an "umbrella structure" company that invests primarily in convertible bonds and enables investors to choose between one or more investment objectives by investing in one or more sub-funds within the same structure. Accounting changes to consolidation standards under GAAP have been deferred for entities that are considered to be investment companies; accordingly, consolidation continues to be determined under a risk and reward model. The Jefferies Umbrella Fund is subject to the deferral guidance and Jefferies is not the primary beneficiary under the risk and reward model. Jefferies variable interests in the Jefferies Umbrella Fund consist of equity interests, management fees and performance fees.
	Private Equity Vehicles. On July 26, 2010, Jefferies committed to invest equity of up to $75.0 million in Jefferies SBI USA Fund L.P. (the "SBI USA Fund"). As of June 30, 2014 and December 31, 2013, Jefferies funded approximately $58.8 million and $47.0 million, respectively, of its commitment. The carrying amount of Jefferies equity investment was $43.9 million and $39.2 million at June 30, 2014 and December 31, 2013, respectively. Jefferies exposure to loss is limited to its equity commitment. The SBI USA Fund has assets consisting primarily of private equity and equity related investments.
Jefferies has a variable interest in Jefferies Employees Partners IV, LLC ("JEP IV") consisting of an equity investment. The carrying amount of Jefferies equity investment was $1.3 million and $1.6 million at June 30, 2014 and December 31, 2013, respectively. Jefferies exposure to loss is limited to its equity investment. JEP IV has assets consisting primarily of private equity and equity related investments.

Loans_To_And_Investments_In_As

Loans To And Investments In Associated Companies	6 Months Ended
	Jun. 30, 2014
Loans To And Investments In Associated Companies [Abstract]	'
Loans To And Investments In Associated Companies	'
	Note 11. Loans to and Investments in Associated Companies
	A summary of loans to and investments in associated companies at June 30, 2014 and December 31, 2013 accounted for under the equity method of accounting is as follows (in thousands):
			June 30,		December 31,
			2014		2013
	Jefferies Finance, LLC	$	343,464	$	470,537
	Jefferies LoanCore LLC		158,071		224,037
	Berkadia		203,133		182,573
	Garcadia companies		126,378		120,017
	HomeFed		254,035		52,923
	Linkem S.p.A.		162,131		173,577
	Other		48,654		34,677
	Total	$	1,295,866	$	1,258,341
	Income (losses) related to associated companies includes the following for the three and six months ended June 30, 2014 and 2013 (in thousands):
			For the Three Month						For the Six Month
			Period Ended June 30,						Period Ended June 30,
			2014			2013			2014			2013
	Berkadia	$	24,388		$	30,844		$	38,361		$	49,431
	Garcadia companies		14,043			11,244			25,302			20,115
	Linkem		(4,723	)		(6,920	)		(10,559	)		(13,522	)
	HomeFed		795			(355	)		177			(596	)
	Jefferies High Yield Holdings, LLC ("JHYH")		-			-			-			7,178
	Other		842			50			2,100			3,065
	Total	$	35,345		$	34,863		$	55,381		$	65,671
	For the three month period ended June 30, 2013, our share of Berkadia's income includes an out of period adjustment of $14.8 million to record income related to prior periods.
	Income (losses) related to associated companies classified as Other revenues includes the following for the three and six months ended June 30, 2014 and 2013 (in thousands):
			For the Three			For the Six			For the Three
			Month			Month			and Six Month
			Period Ended			Period Ended			Periods Ended
			30-Jun-14			30-Jun-14			30-Jun-13
	Jefferies Finance	$	14,673		$	32,274		$	11,969
	Jefferies LoanCore		3,400			5,882			16,723
	Other		(808	)		(264	)		(152	)
	Total	$	17,265		$	37,892		$	28,540
	Jefferies Finance
	In October 2004, Jefferies entered into an agreement with Babson Capital Management LLC ("Babson Capital") and Massachusetts Mutual Life Insurance Company ("MassMutual") to form Jefferies Finance, a joint venture entity. Jefferies Finance is a commercial finance company whose primary focus is the origination and syndication of senior secured debt to middle market and growth companies in the form of term and revolving loans. Loans are originated primarily through the investment banking efforts of Jefferies, with Babson Capital providing primary credit analytics and portfolio management services. Jefferies Finance also originates other debt products such as second lien term, bridge and mezzanine loans, as well as related equity co-investments. Jefferies Finance also purchases syndicated loans in the secondary market, including loans that are performing, stressed and distressed loan obligations.
	Jefferies and MassMutual each have equity commitments to Jefferies Finance of $600.0 million. At June 30, 2014, approximately $331.1 million of Jefferies commitment was funded. The investment commitment is scheduled to mature on March 1, 2016 with automatic one year extensions subject to a 60 day termination notice by either party.
	In addition, Jefferies and MassMutual have entered into a Secured Revolving Credit Facility, to be funded equally, to support loan underwritings by Jefferies Finance. The Secured Revolving Credit Facility bears interest based on the interest rates of the related Jefferies Finance underwritten loans and is secured by the underlying loans funded by the proceeds of the facility. The total committed Secured Revolving Credit Facility is $700.0 million and is scheduled to mature on March 1, 2016 with automatic one year extensions subject to a 60 day termination notice by either party. At June 30, 2014 and December 31, 2013, $0.0 million and $123.8 million, respectively, of Jefferies $350.0 million commitment was funded.
	Jefferies engages in debt capital markets transactions with Jefferies Finance related to the originations of loans by Jefferies Finance. In connection with such transactions, Jefferies earned net underwriting fees of $38.8 million and $86.4 million during the three and six months ended June 30, 2014, respectively, and $35.2 million during the three and six months ended June 30, 2013, recognized in Investment banking revenues in the Consolidated Statements of Operations. In addition, Jefferies paid fees to Jefferies Finance regarding certain loans originated by Jefferies Finance of $3.4 million and $7.7 million during the three and six months ended June 30, 2014, respectively, and $6.2 million during the three and six months ended June 30, 2013, which are recognized within Selling, general and other expenses in the Consolidated Statements of Operations. Under a service agreement, Jefferies charged Jefferies Finance $7.0 million and $28.7 million for services provided during the three and six months ended June 30, 2014, respectively, and $5.4 million during the three and six months ended June 30, 2013. Receivables from Jefferies Finance, included within Other assets in the Consolidated Statements of Financial Condition, were $14.2 million and $31.1 million at June 30, 2014 and December 31, 2013, respectively.
	Jefferies LoanCore
	In February 2011, Jefferies entered into a joint venture agreement with the Government of Singapore Investment Corporation and LoanCore, LLC and formed Jefferies LoanCore, a commercial real estate finance company. Jefferies LoanCore originates and purchases commercial real estate loans throughout the United States with the support of the investment banking and securitization capabilities of Jefferies and the real estate and mortgage investment expertise of the Government of Singapore Investment Corporation and LoanCore, LLC. Jefferies LoanCore has aggregate equity commitments of $600.0 million. At June 30, 2014 and December 31, 2013, Jefferies has funded $108.1 million and $175.5 million, respectively, of its $291.0 million equity commitment and has a 48.5% voting interest in Jefferies LoanCore.
	Berkadia
	Berkadia Commercial Mortgage LLC is a commercial mortgage banking and servicing joint venture formed in 2009 with Berkshire Hathaway. We and Berkshire Hathaway each contributed $217.2 million of equity capital to the joint venture and each have a 50% equity interest in Berkadia. Through June 30, 2014, cumulative cash distributions received from this investment aggregated $249.2 million. Berkadia originates commercial real estate loans that are sold to U.S. government agencies, and originates and brokers commercial mortgage loans which are not part of government agency programs. Berkadia is a servicer of commercial real estate loans in the U.S., performing primary, master and special servicing functions for U.S. government agency programs, commercial mortgage-backed securities transactions, banks, insurance companies and other financial institutions.
	Berkadia uses all of the proceeds from the commercial paper sales of an affiliate of Berkadia to fund new mortgage loans, servicer advances, investments and other working capital requirements. Repayment of the commercial paper is supported by a $2.5 billion surety policy issued by a Berkshire Hathaway insurance subsidiary and corporate guaranty, and we have agreed to reimburse Berkshire Hathaway for one-half of any losses incurred thereunder. As of June 30, 2014, the aggregate amount of commercial paper outstanding was $2.47 billion.
	Linkem
	We have acquired 40.2% of the common shares of Linkem, a fixed wireless broadband services provider in Italy, for aggregate cash consideration of $138.4 million. In addition, we have purchased 5% convertible notes issued by Linkem for $81.2 million (€58.9 million principal amount); if converted, we would own approximately 53% of Linkem's common equity. The excess of our investment in Linkem's common shares over our share of underlying book value is being amortized to expense over 12 years.
	HomeFed
	At June 30, 2014, we owned 9,460,563 shares of HomeFed's common stock, representing approximately 64% of HomeFed's outstanding common shares; however, we have agreed to limit our voting rights such that we will not be able to vote more than 45% of HomeFed's total voting securities voting on any matter, assuming all HomeFed shares not owned by us are voted. HomeFed is engaged, directly and through subsidiaries, in the investment in and development of real estate projects. HomeFed is a public company traded on the NASD OTC Bulletin Board (Symbol: HOFD). As a result of a 1998 distribution to all of our shareholders, approximately 5% of HomeFed is beneficially owned by our Chairman at June 30, 2014. Our Chairman also serves as HomeFed's Chairman, and our President is a Director of HomeFed.
	In March 2014, we sold to HomeFed substantially all of our real estate properties and operations, most of our interest in Brooklyn Renaissance Plaza ("BRP") and cash of $12.5 million (subject to adjustment), in exchange for 6,986,337 newly issued unregistered HomeFed common shares. The remainder of our interest in BRP will be sold to HomeFed for 513,663 additional HomeFed common shares upon receipt of the approval of a lender to BRP; closing of this portion of the transaction is expected during the third quarter of 2014.
	Since we do not control HomeFed, our investment in HomeFed is accounted for as an investment in an associated company. We have also entered into a stockholders agreement that will limit our ability to increase our interest in HomeFed or dispose of our interest in HomeFed. We have a registration rights agreement with HomeFed that covers all of our HomeFed shares. See Note 27 for more information about the assets sold to HomeFed.
	Under GAAP, we are not permitted to immediately recognize any gain on real estate sale transactions in which the seller does not receive cash; accordingly the gain on sale of approximately $27.1 million was deferred and will be recognized into income over time. The new HomeFed shares received were recorded at fair value, which we estimated to be approximately $28.76 per share, based on projections of future cash flows for HomeFed's underlying projects, discounted at a risk adjusted rate.
	JHYH
	Under GAAP, JHYH was considered a variable interest entity that was consolidated by Jefferies, since Jefferies was the primary beneficiary. In connection with the Jefferies acquisition, we contributed our investment in JHYH to Jefferies, other third-party investors were redeemed and JHYH was effectively dissolved.

Financial_Statement_Offsetting

Financial Statement Offsetting	6 Months Ended
	Jun. 30, 2014
Financial Statement Offsetting [Abstract]	'
Financial Statement Offsetting	'
	Note 12. Financial Statement Offsetting
	In connection with Jefferies derivative activities and securities financing activities, Jefferies may enter into master netting agreements and collateral arrangements with counterparties. Generally, transactions are executed under standard industry agreements, including, but not limited to: derivative transactions – ISDA master netting agreements; securities lending transactions – master securities lending agreements; and repurchase transactions – master repurchase agreements. A master agreement creates a single contract under which all transactions between two counterparties are executed allowing for trade aggregation and a single net payment obligation. Master agreements provide protection in bankruptcy in certain circumstances and, where legally enforceable, enable receivables and payables with the same counterparty to be settled or otherwise eliminated by applying amounts due to a counterparty against all or a portion of an amount due from the counterparty or a third party. In addition, Jefferies may enter into customized bilateral trading agreements and other customer agreements that provide for the netting of receivables and payables with a given counterparty as a single net obligation.
	Under Jefferies derivative ISDA master netting agreements, Jefferies typically will also execute credit support annexes, which provide for collateral, either in the form of cash or securities, to be posted by or paid to a counterparty based on the fair value of the derivative receivable or payable based on the rates and parameters established in the credit support annex. In the event of the counterparty's default, provisions of the master agreement permit acceleration and termination of all outstanding transactions covered by the agreement such that a single amount is owed by, or to, the non-defaulting party. In addition, any collateral posted can be applied to the net obligations, with any excess returned; and the collateralized party has a right to liquidate the collateral. Any residual claim after netting is treated along with other unsecured claims in bankruptcy court.
	The conditions supporting the legal right of offset may vary from one legal jurisdiction to another and the enforceability of master netting agreements and bankruptcy laws in certain countries or in certain industries is not free from doubt. The right of offset is dependent both on contract law under the governing arrangement and consistency with the bankruptcy laws of the jurisdiction where the counterparty is located. Industry legal opinions with respect to the enforceability of certain standard provisions in respective jurisdictions are relied upon as a part of managing credit risk. Master netting agreements are a critical component of Jefferies risk management processes as part of reducing counterparty credit risk and managing liquidity risk.
	Jefferies is also a party to clearing agreements with various central clearing parties. Under these arrangements, the central clearing counterparty facilitates settlement between counterparties based on the net payable owed or receivable due and, with respect to daily settlement, cash is generally only required to be deposited to the extent of the net amount. In the event of default, a net termination amount is determined based on the market values of all outstanding positions and the clearing organization or clearing member provides for the liquidation and settlement of the net termination amount among all counterparties to the open repurchase and/or securities lending transactions.
	The following table provides information regarding derivative contracts, repurchase agreements and securities borrowing and lending arrangements that are recognized in the Consolidated Statements of Financial Condition and 1) the extent to which, under enforceable master netting arrangements, such balances are presented net in the Consolidated Statements of Financial Condition as appropriate under GAAP and 2) the extent to which other rights of setoff associated with these arrangements exist and could have an effect on our consolidated financial position.
					Netting in			Net Amounts in
					Consolidated			Consolidated		Additional
					Statement of			Statement of		Amounts
			Gross		Financial			Financial		Available for			Available			Net Amount
	(In thousands)		Amounts		Condition			Condition		Setoff (1)			Collateral (2)			-3
	Assets at June 30, 2014
	Derivative contracts	$	2,901,691	$	(2,648,507	)	$	253,184	$	–		$	–		$	253,184
	Securities borrowing arrangements	$	6,097,098	$	–		$	6,097,098	$	(807,137	)	$	(877,639	)	$	4,412,322
	Reverse repurchase agreements	$	11,402,865	$	(6,793,443	)	$	4,609,422	$	(230,295	)	$	(4,355,647	)	$	23,480
	Liabilities at June 30, 2014
	Derivative contracts	$	2,973,365	$	(2,747,077	)	$	226,288	$	–		$	–		$	226,288
	Securities lending arrangements	$	2,901,159	$	–		$	2,901,159	$	(807,137	)	$	(2,063,606	)	$	30,416
	Repurchase agreements	$	18,461,573	$	(6,793,443	)	$	11,668,130	$	(230,295	)	$	(10,996,643	)	$	441,192
	Assets at December 31, 2013
	Derivative contracts	$	2,514,683	$	(2,253,589	)	$	261,094	$	–		$	–		$	261,094
	Securities borrowing arrangements	$	5,359,846	$	–		$	5,359,846	$	(530,293	)	$	(957,140	)	$	3,872,413
	Reverse repurchase agreements	$	12,715,449	$	(8,968,529	)	$	3,746,920	$	(590,754	)	$	(3,074,540	)	$	81,626
	Liabilities at December 31, 2013
	Derivative contracts	$	2,532,690	$	(2,352,611	)	$	180,079	$	–		$	–		$	180,079
	Securities lending arrangements	$	2,506,122	$	–		$	2,506,122	$	(530,293	)	$	(1,942,271	)	$	33,558
	Repurchase agreements	$	19,748,374	$	(8,968,529	)	$	10,779,845	$	(590,754	)	$	(8,748,641	)	$	1,440,450
	(1)	Under master netting agreements with our counterparties, we have the legal right of offset with a counterparty, which incorporates all of the counterparty's outstanding rights and obligations under the arrangement. These balances reflect additional credit risk mitigation that is available by counterparty in the event of a counterparty's default, but which are not netted in the balance sheet because other netting provisions of U.S. GAAP are not met. Further, for derivative assets and liabilities, amounts netted include cash collateral paid or received.
	(2)	Includes securities received or paid under collateral arrangements with counterparties that could be liquidated in the event of a counterparty default and thus offset against a counterparty's rights and obligations under the respective repurchase agreements or securities borrowing or lending arrangements.
	(3)	At June 30, 2014, amounts include $4,358.7 million of securities borrowing arrangements, for which we have received securities collateral of $4,242.4 million, and $431.0 million of repurchase agreements, for which we have pledged securities collateral of $448.4 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable. At December 31, 2013, amounts include $3,818.4 million of securities borrowing arrangements, for which we have received securities collateral of $3,721.8 million, and $1,410.0 million of repurchase agreements, for which we have pledged securities collateral of $1,438.9 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable.

Intangible_Assets_Net_And_Good

Intangible Assets, Net And Goodwill	6 Months Ended
	Jun. 30, 2014
Intangible Assets, Net And Goodwill [Abstract]	'
Intangible Assets, Net And Goodwill	'
	Note 13. Intangible Assets, Net and Goodwill
	A summary of intangible assets, net at June 30, 2014 and December 31, 2013 is as follows (in thousands):
			June 30,		December 31,
			2014		2013
	Indefinite lived intangibles:
	Exchange and clearing organization membership interests and registrations	$	14,979	$	14,916
	Amortizable intangibles:
	Customer and other relationships, net of accumulated amortization of
	$136,746 and $117,139		494,339		502,409
	Trademarks and tradename, net of accumulated amortization of $38,750
	and $30,213		356,739		364,779
	Supply contracts, net of accumulated amortization of $25,301 and $20,162		124,694		129,833
	Licenses, net of accumulated amortization of $4,288 and $4,100		7,634		7,928
	Other, net of accumulated amortization of $4,548 and $4,500		855		664
	Total intangibles	$	999,240	$	1,020,529
	In connection with Conwed's acquisition of a majority interest in a business during the first quarter of 2014, $11.1 million was allocated to customer relationships, which will be amortized over 10 years.
	Amortization expense on intangible assets was $16.7 million and $19.9 million for the three months ended June 30, 2014 and 2013, respectively, and $33.3 million and $33.2 million for the six months ended June 30, 2014 and 2013, respectively. The estimated aggregate future amortization expense for the intangible assets for each of the next five years is as follows: 2014 (for the remaining six months) - $33.4 million; 2015 - $63.9 million; 2016 - $61.9 million; 2017 - $61.7 million; and 2018 - $61.5 million.
	A summary of goodwill at June 30, 2014 and December 31, 2013 is as follows (in thousands):
			June 30,		December 31,
			2014		2013
	National Beef	$	14,991	$	14,991
	Jefferies		1,727,328		1,724,557
	Other operations		8,551		8,551
		$	1,750,870	$	1,748,099

Inventory

Inventory	6 Months Ended
	Jun. 30, 2014
Inventory [Abstract]	'
Inventory	'
	Note 14. Inventory
	A summary of inventory at June 30, 2014 and December 31, 2013 which is classified as Other assets is as follows (in thousands):
			June 30,		December 31,
			2014		2013
	Finished goods	$	314,490	$	273,291
	Work in process		37,079		34,701
	Raw materials, supplies and other		34,856		56,334
		$	386,425	$	364,326

ShortTerm_Borrowings

Short-Term Borrowings	6 Months Ended
	Jun. 30, 2014
Short-Term Borrowings [Abstract]	'
Short-Term Borrowings	'
	Note 15. Short-Term Borrowings
	Short-term borrowings represent Jefferies bank loans that are payable on demand and generally bear interest at a spread over the federal funds rate. Unsecured bank loans are typically overnight loans used to finance trading assets or clearing related balances, but are not part of Jefferies systemic funding model. At June 30, 2014 and December 31, 2013, short-term borrowings were $12.0 million and $12.0 million, respectively.

LongTerm_Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2014
Long-Term Debt [Abstract]	'
Long-Term Debt	'
	Note 16. Long-Term Debt
	The principal amount (net of unamortized discounts and premiums), stated interest rate and maturity date of outstanding debt at June 30, 2014 and December 31, 2013 are as follows (dollars in thousands):
			June 30,		December 31,
			2014		2013
	Parent Company Debt:
	Senior Notes:
	8.125% Senior Notes due September 15, 2015, $458,641 principal	$	457,106	$	456,515
	5.50% Senior Notes due October 18, 2023, $750,000 principal		740,349		739,960
	6.625% Senior Notes due October 23, 2043, $250,000 principal		246,975		246,958
	Subordinated Notes:
	3.75% Convertible Senior Subordinated Notes due April 15, 2014,
	$0 and $97,581 principal		–		97,581
	Total long-term debt – parent company		1,444,430		1,541,014
	Subsidiary Debt (non-recourse to Parent Company):
	Jefferies:
	5.875% Senior Notes, due June 8, 2014, $250,000 principal		250,243		255,676
	3.875% Senior Notes, due November 9, 2015, $500,000 principal		512,096		516,204
	5.5% Senior Notes, due March 15, 2016, $350,000 principal		368,235		373,178
	5.125% Senior Notes, due April 13, 2018, $800,000 principal		848,235		854,011
	8.5% Senior Notes, due July 15, 2019, $700,000 principal		845,739		858,425
	2.375% Euro Senior Notes, due May 20, 2020, $681,675 principal		679,951		–
	6.875% Senior Notes, due April 15, 2021, $750,000 principal		860,021		866,801
	2.25% Euro Medium Term Notes, due July 13, 2022, $5,283 principal		4,762		4,792
	5.125% Senior Notes, due January 20, 2023, $600,000 principal		624,482		625,626
	6.45% Senior Debentures, due June 8, 2027, $350,000 principal		382,381		383,224
	3.875% Convertible Senior Debentures, due November 1, 2029,
	$345,000 principal		349,142		349,707
	6.25% Senior Debentures, due January 15, 2036, $500,000 principal		513,197		513,343
	6.50% Senior Notes, due January 20, 2043, $400,000 principal		422,105		422,245
	Secured credit facility, due August 26, 2014		65,000		200,000
	National Beef Term Loans		362,500		375,000
	National Beef Revolving Credit Facility		106,330		–
	Other		159,207		41,619
	Total long-term debt – subsidiaries		7,353,626		6,639,851
	Long-term debt	$	8,798,056	$	8,180,865
	Parent Company Debt:
	The 3.75% Convertible Senior Subordinated Notes due 2014 were converted primarily in April 2014 into 4,606,109 common shares prior to maturity and are no longer outstanding.
	Subsidiary Debt:
	Jefferies 3.875% Convertible Senior Debentures due 2029 are convertible into our common shares; each $1,000 are convertible into 22.0775 common shares (equivalent to a conversion price of approximately $45.29). The debentures are convertible at the holders' option any time beginning on August 1, 2029 and convertible at any time if: 1) our common stock price is greater than or equal to 130% of the conversion price for at least 20 trading days in a period of 30 consecutive trading days; 2) if the trading price per debenture is less than 95% of the price of our common stock times the conversion ratio for any 10 consecutive trading days; 3) if the debentures are called for redemption; or 4) upon the occurrence of specific corporate actions. The debentures may be redeemed for par, plus accrued interest, on or after November 1, 2012 if the price of our common stock is greater than 130% of the conversion price for at least 20 days in a period of 30 consecutive trading days and we may redeem the debentures for par, plus accrued interest, at our election any time on or after November 1, 2017. Holders may require us to repurchase the debentures for par, plus accrued interest, on November 1, 2017, 2019 and 2024. In addition to ordinary interest, commencing November 1, 2017, contingent interest will accrue at 0.375% if the average trading price of a debenture for 5 trading days ending on and including the third trading day immediately preceding a six-month interest period equals or exceeds $1,200 per $1,000 debenture.
	On August 26, 2011, Jefferies entered into a committed senior secured revolving credit facility ("Jefferies Credit Facility") with a group of commercial banks in U.S. dollars, Euros and Sterling, in an aggregate committed amount of $950.0 million with availability subject to one or more borrowing bases and of which $250.0 million can be borrowed without a borrowing base requirement. On June 26, 2014, Jefferies amended and restated the Credit Facility for three years and reduced the committed amount to $750.0 million. The borrowers under the Jefferies Credit Facility are Jefferies Bache Financial Services, Inc., Jefferies Bache, LLC and Jefferies Bache Limited, with a guarantee from Jefferies Group LLC. The Jefferies Credit Facility contains certain financial covenants, including, but not limited to, restrictions on future indebtedness of Jefferies subsidiaries, minimum tangible net worth and liquidity requirements and minimum capital requirements. Interest is based on, in the case of U.S. dollar borrowings, the Federal funds rate or the London Interbank Offered Rate or, in the case of Euro and Sterling borrowings, the Euro Interbank Offered Rate and the London Interbank Offered Rate, respectively. The obligations of each borrower under the Credit Facility are secured by substantially all the assets of such borrower, but none of the borrowers is responsible for any obligations of any other borrower. At June 30, 2014, borrowings under the Jefferies Credit Facility were denominated in U.S. dollars and Jefferies is in compliance with debt covenants under the Jefferies Credit Facility.
	At June 30, 2014, National Beef's credit facility consisted of a $375.0 million term loan and a revolving credit facility of $300.0 million. The term loan and the revolving credit facility bear interest at the Base Rate or the LIBOR Rate (as defined in the credit facility), plus a margin ranging from .75% to 2.50% depending upon certain financial ratios and the rate selected. At June 30, 2014, the interest rate on the outstanding term loan was 2.9% and the interest rate on the outstanding revolving credit facility was 3.6%. The amended credit facility contains a minimum tangible net worth covenant, but does not contain the numerical covenants requiring certain leverage and fixed charge ratios that were in the previous agreement. At June 30, 2014, National Beef met the tangible net worth covenant. The credit facility is secured by a first priority lien on substantially all of the assets of National Beef and its subsidiaries.
	Borrowings under the revolving credit facility are available for National Beef's working capital requirements, capital expenditures and other general corporate purposes. Unused capacity under the facility can also be used to issue letters of credit; letters of credit aggregating $25.3 million were outstanding at June 30, 2014. Amounts available under the revolver are subject to a borrowing base calculation primarily comprised of receivable and inventory balances. At June 30, 2014, after deducting outstanding amounts and issued letters of credit, $168.4 million of the unused revolver was available to National Beef.

Mezzanine_Equity

Mezzanine Equity	6 Months Ended
	Jun. 30, 2014
Mezzanine Equity [Abstract]	'
Mezzanine Equity	'
	Note 17. Mezzanine Equity
	Redeemable Noncontrolling Interests
	Redeemable noncontrolling interests primarily relate to National Beef and are held by its minority owners, principally USPB, NBPCo Holdings and the chief executive officer of National Beef. The holders of these interests share in the profits and losses of National Beef on a pro rata basis with us. However, the minority owners have the right to require us to purchase their interests under certain specified circumstances at fair value (put rights), and we also have the right to purchase their interests under certain specified circumstances at fair value (call rights). Each of the holders of the put rights has the right to make an election that requires us to purchase up to one-third of their interests on December 30, 2016, one-third on December 30, 2018, and the remainder on December 30, 2021. In addition, USPB may elect to exercise their put rights following the termination of the cattle supply agreement, and the chief executive officer following the termination of his employment.
	Our call rights with respect to USPB may be exercised following the termination of the cattle supply agreement or after USPB's ownership interest is less than 20% of their interest held at the time we acquired National Beef. Our call rights with respect to other members may be exercised after the ten year anniversary of our acquisition of National Beef if such member's ownership interest is less than 50% of the interest held at the time we acquired National Beef. Additionally, we may acquire the chief executive officer's interest following the termination of his employment.
	Redeemable noncontrolling interests in National Beef are reflected in the Consolidated Statements of Financial Condition at fair value. The following table reconciles National Beef's redeemable noncontrolling interests activity during the six months ended June 30, 2014 and 2013 (in thousands):
			2014			2013
	As of January 1,	$	241,075		$	241,649
	Income (loss) allocated to redeemable noncontrolling interests		(4,649	)		1,107
	Net distributions to redeemable noncontrolling interests		–			(6,682	)
	Increase (decrease) in fair value of redeemable noncontrolling
	interests charged to additional paid-in capital		1,013			(22,434	)
	Balance, June 30,	$	237,439		$	213,640
	At acquisition, we prepared a projection of future cash flows of National Beef, which was used along with other information to allocate the purchase price to National Beef's individual assets and liabilities. At June 30, 2014, we calculated the fair value of the redeemable noncontrolling interests by updating our estimate of future cash flows, as well as considering other market comparable information deemed appropriate. The projected future cash flows consider estimated revenue growth, cost of sales changes, capital expenditures and other unobservable inputs. However, the most significant unobservable inputs affecting the estimate of fair value are the discount rate (11.69%) and the terminal growth rate (2%) used to calculate the capitalization rate of the terminal value.
	The table below is a sensitivity analysis which shows the fair value of the redeemable noncontrolling interests using the assumed discount and the terminal growth rates and fair values under different rate assumptions as of June 30, 2014 (dollars in millions):
		Discount Rates
	Terminal Growth Rates			11.44%		11.69%		11.94%
	1.75	%	$	242.5	$	234	$	225.8
	2	%	$	246.2	$	237.4	$	229.1
	2.25	%	$	250.2	$	241.1	$	232.5
	The projection of future cash flows is updated with input from National Beef personnel. The estimate is reviewed by personnel at our corporate office as part of the normal process for the preparation of our quarterly and annual financial statements.
	At June 30, 2014, redeemable noncontrolling interests also include the noncontrolling interest in a business acquired by Conwed during the first quarter of 2014 of $2.4 million.
	Mandatorily Redeemable Convertible Preferred Shares
	As mentioned above, in connection with the Jefferies acquisition we issued a new series of 3.25% Cumulative Convertible Preferred Shares ("Preferred Shares") ($125.0 million at mandatory redemption value) in exchange for Jefferies outstanding 3.25% Series A-1 Cumulative Convertible Preferred Stock. The Preferred Shares have a 3.25% annual, cumulative cash dividend and are currently convertible into 4,162,200 common shares an effective conversion price of $30.03 per share. The Preferred Shares are callable beginning in 2023 at a price of $1,000 per share plus accrued interest and are mandatorily redeemable in 2038.

Common_Shares_Compensation_Pla

Common Shares, Compensation Plans And Preferred Shares	6 Months Ended
	Jun. 30, 2014
Common Shares, Compensation Plans And Preferred Shares [Abstract]	'
Common Shares, Compensation Plans And Preferred Shares	'
	Note 18. Common Shares, Compensation Plans and Preferred Shares
	Prior to the acquisition of Jefferies, we had two share-based compensation plans: a fixed stock option plan and a senior executive warrant plan. The fixed stock option plan provides for the issuance of stock options and stock appreciation rights to non-employee directors and certain employees at not less than the fair market value of the underlying stock at the date of grant. Options granted to employees under this plan are intended to qualify as incentive stock options to the extent permitted under the Internal Revenue Code and become exercisable in five equal annual instalments starting one year from date of grant. Options granted to non-employee directors become exercisable in four equal annual instalments starting one year from date of grant. No stock appreciation rights have been granted. At June 30, 2014 and December 31, 2013, 7,117,322 and 7,124,429, respectively, of our common shares were reserved for stock options and warrants.
	Compensation and benefits expense included $24.6 million and $30.6 million for the three months ended June 30, 2014 and 2013, respectively, and $62.8 million and $32.4 million for the six months ended June 30, 2014 and 2013, respectively, for share-based compensation expense relating to grants made under our share-based compensation plans. Total compensation cost includes the amortization of sign-on, retention and senior executive awards, less forfeitures and clawbacks. The total tax benefit recognized in results of operations related to share-based compensation expenses was $8.9 million and $22.9 million for the three and six months ended June 30, 2014, respectively, and $11.1 million and $11.6 million for the three and six months ended June 30, 2013, respectively. As of June 30, 2014, total unrecognized compensation cost related to nonvested share-based compensation plans was $141.7 million; this cost is expected to be recognized over a weighted-average period of 2.2 years.
	The net tax benefit related to share-based compensation plans recognized in additional paid-in capital was not significant during the 2014 and 2013 periods. Cash flows resulting from tax deductions in excess of the grant date fair value of share-based awards are included in cash flows from financing activities; accordingly, we reflected the excess tax benefit related to share-based compensation in cash flows from financing activities. Such amounts for the 2014 and 2013 periods were not significant.
	At June 30, 2014, there were 4,626,736 shares of restricted stock outstanding with future service required, 4,402,551 RSUs outstanding with future service required, 8,428,574 RSUs outstanding with no future service required and 910,635 shares issuable under other plans. Excluding shares issuable pursuant to outstanding stock options and warrants, the maximum potential increase to common shares outstanding resulting from these outstanding awards is 13,741,760.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2014
Accumulated Other Comprehensive Income [Abstract]	'
Accumulated Other Comprehensive Income	'
	Note 19. Accumulated Other Comprehensive Income
	Activity in accumulated other comprehensive income is reflected in the Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Changes in Equity but not in the Consolidated Statements of Operations. A summary of accumulated other comprehensive income, net of taxes at June 30, 2014 and December 31, 2013 is as follows (in thousands):
			June 30,			December 31,
			2014			2013
	Net unrealized gains on available for sale securities	$	594,926		$	589,393
	Net unrealized foreign exchange gains		33,343			16,803
	Net unrealized losses on derivative instruments		(507	)		(169	)
	Net minimum pension liability		(66,457	)		(67,977	)
		$	561,305		$	538,050
	For the six months ended June 30, 2014 and 2013, significant amounts reclassified out of accumulated other comprehensive income to net income (loss) are as follows (in thousands):
	Details about Accumulated Other		Amount Reclassified from					Affected Line Item in the
	Comprehensive Income		Accumulated Other					Consolidated Statement
	Components		Comprehensive Income					of Operations
			2014			2013
	Net unrealized gains (losses) on available for							Net realized securities gains
	sale securities, net of income tax provision
	(benefit) of $(1,438) and $117,170	$	(2,590	)	$	211,037
	Amortization of defined benefit pension							Compensation and benefits, which
	plan actuarial gains (losses), net of							includes pension expense. See the
	income tax provision (benefit) of $(844)							pension footnote for information on
	and $(1,332)		(1,520	)		(2,400	)	this component.
	Total reclassifications for the period,
	net of tax	$	(4,110	)	$	208,637

Pension_Plans_And_Postretireme

Pension Plans And Postretirement Benefits	6 Months Ended
	Jun. 30, 2014
Pension Plans And Postretirement Benefits [Abstract]	'
Pension Plans And Postretirement Benefits	'
	Note 20. Pension Plans and Postretirement Benefits
	The following table summarizes the components of pension expense charged to operations for the three and six months ended June 30, 2014 and 2013 (in thousands):
			For the Three Month						For the Six Month
			Period Ended June 30,						Period Ended June 30,
			2014			2013			2014			2013
	Service cost	$	11		$	72		$	22		$	72
	Interest cost		3,774			3,382			7,548			5,993
	Expected return on plan assets		(2,537	)		(2,606	)		(5,073	)		(4,532	)
	Actuarial losses		1,209			1,909			2,417			3,775
	Net pension expense	$	2,457		$	2,757		$	4,914		$	5,308
	Noemployer contributions were paid during the six months ended June 30, 2014.
	Other
	We have defined contribution pension plans covering certain employees. Contributions and costs are a percent of each covered employee's salary. Amounts charged to expense were not significant for the 2014 and 2013 periods.
	We provide certain health care and other benefits to certain retired employees under plans which are currently unfunded. We pay the cost of postretirement benefits as they are incurred. Accumulated postretirement benefit obligations and amounts recognized in the consolidated statements of operations and in accumulated other comprehensive income (loss) were not significant.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	Note 21. Income Taxes
	The aggregate amount of unrecognized tax benefits related to uncertain tax positions at June 30, 2014 was $187.6 million (including $32.0 million for interest), of which $162.5 million was related to Jefferies. If recognized, such amounts would lower our effective tax rate.
	The statute of limitations with respect to our federal income tax returns has expired for all years through 2009. Our New York State and New York City income tax returns are currently being audited for the 2009 to 2011 period. Prior to becoming a wholly-owned subsidiary, Jefferies filed a consolidated U.S. federal income tax return with its qualifying subsidiaries and was subject to income tax in various states, municipalities and foreign jurisdictions. Jefferies is currently under examination by the Internal Revenue Service and other major tax jurisdictions. The statute of limitations with respect to Jefferies federal income tax returns has expired for all years through 2005.
	We do not expect that resolution of these examinations will have a significant effect on our consolidated financial position, but could have a significant impact on the consolidated results of operations for the period in which resolution occurs. Over the next twelve months, we believe it is reasonably possible that various tax examinations will be concluded and statutes of limitation will expire which would have the effect of reducing the balance of unrecognized tax benefits by $3.6 million. If recognized, the total amount of unrecognized tax benefits would lower our effective income tax rate.
	For the three and six months ended June 30, 2014, the provision for income taxes includes $24.7 million and $39.8 million, respectively, for state income taxes and $4.7 million and $10.7 million, respectively, for foreign income taxes. For the three and six months ended June 30, 2013, the provision for income taxes includes $31.5 million and $42.0 million, respectively, for state and foreign income taxes. For the six months ended June 30, 2013, the provision for income taxes also includes a charge of $12.3 million to write-off a portion of our net deferred tax asset for state income taxes, resulting from a change in our expected state filing positions as a result of the Jefferies acquisition, and reflects certain non-deductible expenses.
	For the six month period ended June 30, 2013, the income tax provision also includes the reversal of the December 31, 2012 deferred tax liability of $34.0 million related to our investment in Jefferies that we elected to account for under the fair value option prior to the acquisition. Due to the acquisition, there was no net income tax provision recorded for income related to the fair value option for Jefferies for the six month period ended June 30, 2013; as a result the impact on the tax provision was a benefit of $65.2 million

Earnings_Loss_Per_Common_Share

Earnings (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2014
Earnings (Loss) Per Common Share [Abstract]	'
Earnings (Loss) Per Common Share	'
	Note 22. Earnings (Loss) Per Common Share
	Basic and diluted earnings (loss) per share amounts were calculated by dividing net income (loss) by the weighted average number of common shares outstanding. The numerators and denominators used to calculate basic and diluted earnings (loss) per share are as follows for the three and six months ended June 30, 2014 and 2013 (in thousands):
			For the Three Month						For the Six Month
			Period Ended June 30,						Period Ended June 30,
			2014			2013			2014			2013
	Numerator for earnings (loss) per share:
	Net income attributable to Leucadia
	National Corporation common shareholders	$	65,074		$	52,612		$	159,390		$	357,715
	Less: Allocation of earnings to participating
	securities (1)		(1,557	)		(1,597	)		(3,927	)		(4,200	)
	Net income attributable to Leucadia National
	Corporation common shareholders for
	basic earnings (loss) per share		63,517			51,015			155,463			353,515
	Adjustment to allocation of earnings to participating
	securities related to diluted shares (1)		(12	)		(29	)		(19	)		(2	)
	Interest on 3.75% Convertible Notes		99			–			739			1,316
	Mandatorily redeemable convertible preferred share
	dividends		–			–			–			1,354
	Net income attributable to Leucadia
	National Corporation common shareholders
	for diluted earnings (loss) per share	$	63,604		$	50,986		$	156,183		$	356,183
	Denominator for earnings (loss) per share:
	Denominator for basic earnings (loss) per share
	– weighted average shares		371,979			367,752			370,506			315,375
	Stock options		48			85			68			44
	Warrants		–			–			–			–
	3.875% Convertible Senior Debentures		–			–			–			–
	3.75% Convertible Notes		1,152			–			2,627			4,503
	Mandatorily redeemable convertible preferred shares		–			–			–			2,775
	Denominator for diluted earnings (loss) per share		373,179			367,837			373,201			322,697
	(1) Represents dividends declared during the period on participating securities plus an allocation of undistributed earnings to participating securities. Net losses are not allocated to participating securities. Participating securities represent restricted stock and RSUs for which requisite service has not yet been rendered and amounted to weighted average shares of 9,164,900 and 11,375,200 for the three months ended June 30, 2014 and 2013, respectively, 9,433,100 and 7,763,100 for the six months ended June 30, 2014 and 2013, respectively. Dividends declared on participating securities were $.6 million and $.7 million during the three months ended June 30, 2014 and 2013, respectively, and $1.1 million and $1.5 million during the six months ended June 30, 2014 and 2013, respectively. Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed.
	Options to purchase 1,581,700 and 825,400 weighted-average shares of common stock were outstanding during the three months ended June 30, 2014 and 2013, respectively, and 773,000 and 1,748,600 weighted-average shares of common stock were outstanding during the six months ended June 30, 2014 and 2013, respectively, but were not included in the computation of diluted per share amounts as the effect was antidilutive.
	For each period in the table above, the denominator for diluted earnings (loss) per share does not include weighted-average common shares of 4,000,000 related to outstanding warrants to purchase common shares at $33.33 per share, as the effect was antidilutive.
	For the three and six months ended June 30, 2014 and 2013, shares related to the 3.875% Convertible Senior Debentures were not included in the computation of diluted per share amounts as the conversion price exceeded the average market price.
	For the three months ended June 30, 2013, 4,557,339 shares related to the 3¾% Convertible Notes were not included in the computation of diluted per share amounts as the effect was antidilutive. For the three and six months ended June 30, 2014 and for the three months ended June 30, 2013, 4,162,200 shares related to the mandatorily redeemable convertible preferred shares were not included in the computation of diluted per share amounts as the effect was antidilutive.

Commitments_Contingencies_And_

Commitments, Contingencies And Guarantees	6 Months Ended
	Jun. 30, 2014
Commitments, Contingencies And Guarantees [Abstract]	'
Commitments, Contingencies And Guarantees	'
	Note 23. Commitments, Contingencies and Guarantees
	Commitments
	The following table summarizes Jefferies commitments associated with certain business activities at June 30, 2014 (in millions):
		Expected Maturity Date
							2016		2018		2020
							and		and		and		Maximum
			2014		2015		2017		2019		Later		Payout
	Equity commitments (1)	$	1.6	$	7.5	$	0.9	$	-	$	475.4	$	485.4
	Loan commitments (1)		10.8		26.3		515.1		175.9		-		728.1
	Mortgage-related commitments		862		387.9		496.5		-		-		1,746.40
	Underwriting commitments		85.9		-		-		-		-		85.9
	Forward starting reverse repos and repos		206.2		-		-		-		-		206.2
		$	1,166.50	$	421.7	$	1,012.50	$	175.9	$	475.4	$	3,252.00
	(1)	Equity and loan commitments are presented by contractual maturity date. The amounts are however available on demand.
	The table below presents Jefferies credit exposure from loan commitments, including funded amounts, summarized by period of expiration as of June 30, 2014. Credit exposure is based on the external credit ratings of the underlying or referenced assets of the loan commitments. Since commitments associated with these business activities may expire unused, they do not necessarily reflect the actual future cash funding requirements (in millions):
									Total		Corporate		Corporate
							Greater		Corporate		Lending		Lending
			0 - 12		5-Jan		Than		Lending		Exposure at		Commitments
	Credit Ratings		Months		Years		5 Years		Exposure (1)		Fair Value (2)		-3
	Investment grade	$	-	$	69.4	$	-	$	69.4	$	-	$	69.4
	Non-investment grade		-		78.9		-		78.9		17.9		61
	Unrated		14.8		641		-		655.8		58.1		597.7
	Total	$	14.8	$	789.3	$	-	$	804.1	$	76	$	728.1
	(1)	Total corporate lending exposure represents the potential loss assuming the fair value of funded loans and lending commitments were zero.
	(2)	The corporate lending exposure at fair value includes $91.9 million of funded loans included in Trading assets and a $15.9 million net liability related to lending commitments recorded in Trading liabilities in the Consolidated Statement of Financial Condition as of June 30, 2014.
	(3)	Amounts represent the notional amount of unfunded lending commitments.
	Equity Commitments. Equity commitments include commitments to invest in Jefferies joint ventures, Jefferies Finance and Jefferies LoanCore and commitments to invest in private equity funds and in Jefferies Capital Partners, LLC, the manager of the private equity funds, which are managed by a team led by Brian Friedman, our President and a Director. As of June 30, 2014, Jefferies outstanding commitments relating to Jefferies Capital Partners, LLC and its private equity funds was $31.8 million.
	See Note 11 for additional information regarding Jefferies investments in Jefferies Finance and Jefferies LoanCore.
	Additionally, as of June 30, 2014, Jefferies had other outstanding equity commitments to invest up to $1.8 million in various other investments.
	Loan Commitments. From time to time Jefferies makes commitments to extend credit to investment banking and other clients in loan syndication, acquisition finance and securities transactions and to SPE sponsors in connection with the funding of CLO and other asset-backed transactions. These commitments and any related drawdowns of these facilities typically have fixed maturity dates and are contingent on certain representations, warranties and contractual conditions applicable to the borrower. As of June 30, 2014, Jefferies has $378.1 million of outstanding loan commitments to clients.
	Loan commitments outstanding as of June 30, 2014, also include Jefferies portion of the outstanding secured revolving credit facility provided to Jefferies Finance, to support loan underwritings by Jefferies Finance.
	Mortgage-Related Commitments. Jefferies enters into forward contracts to purchase mortgage participation certificates and mortgage-backed securities. The mortgage participation certificates evidence interests in mortgage loans insured by the Federal Housing Administration and the mortgage-backed securities are insured or guaranteed by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or the Government National Mortgage Association (Ginnie Mae). Jefferies frequently securitizes the mortgage participation certificates and mortgage-backed securities. The fair value of mortgage-related commitments recorded in the Consolidated Statement of Financial Condition at June 30, 2014 was $67.2 million.
	Underwriting Commitments. In connection with investment banking activities, Jefferies may from time to time provide underwriting commitments to its clients in connection with capital raising transactions.
	Forward Starting Reverse Repos and Repos. Jefferies enters into commitments to take possession of securities with agreements to resell on a forward starting basis and to sell securities with agreements to repurchase on a forward starting basis that are primarily secured by U.S. government and agency securities.
	Contingencies
	Seven putative class action lawsuits have been filed on behalf of a putative class consisting of Jefferies stockholders in New York and Delaware concerning the merger transaction whereby Jefferies became our wholly-owned subsidiary. Three were filed in the Supreme Court of the State of New York: (1) Howard Lasker IRA v. Jefferies Group, Inc. et al. (Index No. 653924/2012), filed on November 14, 2012 in New York County; (2) Lowinger v. Leucadia National Corp. et al. (Index No. 653958/2012), filed on November 15, 2012 in New York County; and (3) Jiannaras v. Jefferies Group, Inc., et al. (Index No. 702866/2012), filed on November 16, 2012 in Queens County. Four were filed in the Court of Chancery of the State of Delaware: (1) Oklahoma Firefighters Pension & Retirement System v. Handler et al. (C.A. No. 8054-CS), filed on November 21, 2012; (2) Laborers' District Council Pension and Disability Trust Fund No. 2 et al. v. Campbell et al. (C.A. No. 8059-CS), filed on November 26, 2012; (3) Genesee County Employees' Retirement System v. Handler et al. (C.A. No. 8096-CS), filed on December 11, 2012; and (4) Gelfand v. Handler et al. (C.A. No. 8228-CS), filed on January 17, 2013 (collectively, the "Actions"). The class actions, filed on behalf of Jefferies shareholders prior to the merger, name as defendants Jefferies, the members of the board of directors of Jefferies, the members of our board of directors and, in certain of the actions, certain merger-related subsidiaries. The Actions seek, among other things, equitable relief and unspecified monetary damages.
	The New York actions were consolidated and have been stayed through pretrial discovery in deference to the Delaware actions, which also have been consolidated. The consolidated Delaware action alleges that the members of Jefferies board of directors breached their fiduciary duties in connection with the merger transactions by engaging in a flawed process, agreeing to sell Jefferies for inadequate consideration pursuant to an agreement that contains improper deal protection terms, and failing to disclose material information concerning the merger transactions, and further that we aided and abetted the directors' breaches of fiduciary duties (the Court has since dismissed the former Jefferies independent directors from the action). The action also alleges breaches of fiduciary duty against Messrs. Handler and Friedman in their capacities as officers of Jefferies, and against Messrs. Handler, Friedman, Cumming and Steinberg, collectively, as purported controlling shareholders of Jefferies. On May 30, 2014, the court so-ordered the parties' stipulation to certify the class. On July 22, 2014, the defendants filed a motion for summary judgment. The plaintiffs' opposition brief is due on August 21, 2014. We are unable to predict the outcome of this litigation or to estimate the amount of or range of any reasonably possible loss.
	We and certain of our subsidiaries and officers are named as defendants in a consumer class action captioned Sykes v. Mel Harris & Associates, LLC, et al., 09 Civ. 8486 (DC), in the United States District Court for the Southern District of New York. The named defendants also include the Mel Harris law firm, certain individuals and members associated with the law firm, and a process server, Samserv, Inc. and certain of its employees. The action arises out of the law firm's obtaining default judgments against approximately 124,000 individuals in New York City Civil Court with respect to consumer debt purchased by our subsidiaries. We asserted that we were an investor with respect to the subject purchased consumer debt and were regularly informed of the amounts received from debt collections, but otherwise had no involvement in any alleged illegal debt collection activities.
	The complaint alleges that the defendants fraudulently obtained the default judgments in violation of the Fair Debt Collection Practices Act, the Racketeer Influenced and Corrupt Organizations Act, the New York General Business Law and the New York Judiciary Law (alleged only as to the law firm) and seeks injunctive relief, declaratory relief and damages on behalf of the named plaintiffs and others similarly situated. Defendants' motions to dismiss were denied in part (including as to the claims made against us and our subsidiaries) and granted in part (including as to certain of the claims made against our officers) (the "Dismissal Decision"). In September 2012, the Court issued a decision granting plaintiffs' motion to certify a Rule 23(b)(2) class and a Rule 23(b)(3) class (the "Certification Decision"). Neither the Dismissal Decision nor the Certification Decision addresses the ultimate merits of the case.
	At a November 2012 status conference, the parties advised the Court of their intention to attempt to resolve the dispute through mediation. Those efforts were not successful and the parties advised the Court. On March 28, 2013, the Court entered its certification order, certifying a Rule 23(b)(2) class of "all persons who have been or will be sued by the Mel Harris defendants as counsel for the Leucadia defendants in actions commenced in New York City Civil Court and where a default judgment has or will be sought" and a Rule 23(b)(3) class of "all persons who have been sued by the Mel Harris defendants as counsel for the Leucadia defendants in actions commenced in New York City Civil Court and where a default judgment has been obtained." (the "Certification Order").
	On July 19, 2013, the United States Court of Appeals for the Second Circuit granted our leave to appeal the District Court's March Certification Order. In connection with the appeal, the District Court has granted a stay of the proceedings pending the Court of Appeals' decision. The appeal was heard on February 7, 2014.
	Determinations of both the probability and the estimated amount of loss or potential loss are judgments made in the context of developments in the litigation. We review these developments regularly with our outside counsel. Because we determined that we would be willing to resolve this matter with plaintiffs for $20.0 million, we accrued a litigation reserve for this contingency in that amount. In arriving at this reserve amount, we considered a number of factors, including that (i) while the damages sought are indeterminate, payment of this reserved amount would not resolve the case at this time, (ii) there is uncertainty as to the outcome of pending proceedings (including motions and appeals respecting class certification), (iii) there are significant factual issues to be determined or resolved, (iv) relevant law is unsettled and untested legal theories are presented, (v) we have numerous defenses to the plaintiffs' claims, (vi) there are no adverse rulings by the Court on the merits of plaintiffs' claims and (vii) several important litigation milestones, such as the completion of discovery and the filing of summary judgment motions, have not yet occurred.
	We also note that the plaintiffs in the action – the class members certified under Federal Rule of Civil Procedure 23(b)(3) –have alleged certain categories of damages under each of the statutes underlying their claims. These damages include (i) statutory damages, which are capped under the Fair Debt Collection Practices Act at $0.5 million for the class, and (ii) actual damages. While not fully described in the complaint, it appears that plaintiffs' claim for actual damages includes not only incidental costs incurred in connection with the default judgments (including, for example, subway fares to the courthouse and bank fees), costs relating to emotional distress and costs related to reputational damage allegedly arising as a result of the long-term effects of the default judgments, but also the full amount of the debt that class members paid (whether owed or not) following entry of the default judgments. The amount of debt collected to date totals approximately $90.0 million. If the plaintiffs are successful in proving their claims and in proving actual damages, plaintiffs' damages may be subject to prejudgment interest and trebling under the Racketeer Influenced and Corrupt Organizations Act.
	On May 2, 2014, plaintiff Haverhill Retirement System ("Haverhill") filed an amended putative class action and derivative lawsuit (the "Complaint") entitled Haverhill Retirement System v. Asali, et al. in the Court of Chancery of the State of Delaware (the "Court of Chancery") against Harbinger Capital Partners LLC, Harbinger Capital Partners Master Fund I, Ltd., Global Opportunities Breakaway Ltd., Harbinger Capital Partners Special Situations Fund, L.P. (collectively, the "Harbinger Funds"), the members of the board of directors of Harbinger Group, Inc. ("Harbinger"), nominal defendant Harbinger, as well as Leucadia. The Complaint alleges, among other things, that the directors of Harbinger breached their fiduciary duties in connection with Leucadia's March 2014 purchase of preferred securities of subsidiaries of the Harbinger Funds that are exchangeable into Harbinger common stock owned by the Harbinger Funds, certain flaws in the process employed by the special committee of directors appointed by the Harbinger board in connection therewith, and that Leucadia aided and abetted the Harbinger board's breaches of fiduciary, as well as a claim of unjust enrichment against Leucadia. On April 1, 2014, the Chancery Court denied Haverhill's motion for expedited proceedings associated with the complaint originally filed by Haverhill on March 26, 2014. Haverhill filed an amended complaint on May 2, 2014. On May 16, 2014, the defendants moved to dismiss the amended complaint, and on July 2, 2014, defendants filed briefs in support of those motions. Haverhill's brief in opposition to the motions to dismiss is due on September 5, 2014.
	Jefferies has reached a non-prosecution agreement with the United States Attorney for the District of Connecticut and a settlement agreement with the SEC, relating to an investigation of the purchases and sales of mortgage-backed securities. That investigation arose from a matter that came to light in late 2011, at which time Jefferies terminated a mortgage-backed-securities trader who was then indicted by the United States Attorney for the District of Connecticut in January 2013 and separately charged in a civil complaint by the SEC. Those agreements include an aggregate $25.0 million in payments, of which approximately $11.0 million are payments to trading counterparties impacted by those activities, approximately $10.0 million of which is a fine payable to the U.S. Attorney's Office, and approximately $4.0 million of which is a fine payable to the SEC. Jefferies outstanding reserve with respect to remaining payments to be made under the agreements is approximately $5.1 million.
	We and our subsidiaries are parties to other legal and regulatory proceedings that are considered to be either ordinary, routine litigation incidental to their business or not significant to our consolidated financial position. We and our subsidiaries are also involved, from time to time, in other exams, investigations and similar reviews (both formal and informal) by governmental and self-regulatory agencies regarding our businesses, certain of which may result in judgments, settlements, fines, penalties or other injunctions. We do not believe that any of these actions will have a significant adverse effect on our consolidated financial position or liquidity, but any amounts paid could be significant to results of operations for the period.
	Guarantees
	Derivative Contracts. Jefferies dealer activities cause it to make markets and trade in a variety of derivative instruments. Certain derivative contracts that Jefferies has entered into meet the accounting definition of a guarantee under GAAP, including credit default swaps, written foreign currency options and written equity put options. On certain of these contracts, such as written interest rate caps and foreign currency options, the maximum payout cannot be quantified since the increase in interest or foreign exchange rates are not contractually limited by the terms of the contract. As such, we have disclosed notional values as a measure of Jefferies maximum potential payout under these contracts.
	The following table summarizes the notional amounts associated with our derivative contracts meeting the definition of a guarantee under GAAP (in millions):
		Expected Maturity Date
							2016		2018		2020		Notional/
							and		and		and		Maximum
	Guarantee Type		2014		2015		2017		2019		Later		Payout
	Derivative contracts – non-credit related	$	37,589.90	$	1,141.80	$	43.7	$	1.2	$	534.5	$	39,311.10
	Written derivative contracts – credit
	related		-		-		-		420.8		-		420.8
	Total derivative contracts	$	37,589.90	$	1,141.80	$	43.7	$	422	$	534.5	$	39,731.90
	The external credit ratings of the underlying or referenced assets for our credit related derivatives contracts (in millions):
		External Credit Rating
											Below				Notional/
			AAA/		AA/						Investment				Maximum
			Aaa		Aa		A		BBB/Baa		Grade		Unrated		Payout
	Credit related derivative contracts:
Index credit default swaps	$	344.8	$	-	$	-	$	-	$	-	$	-	$	344.8
Single name credit default swaps		-		-		-		61		15		-		76
The derivative contracts deemed to meet the definition of a guarantee under GAAP are before consideration of hedging transactions and only reflect a partial or "one-sided" component of any risk exposure. Written equity options and written credit default swaps are often executed in a strategy that is in tandem with long cash instruments (e.g., equity and debt securities). Jefferies substantially mitigates its exposure to market risk on these contracts through hedges, such as other derivative contracts and/or cash instruments and Jefferies manages the risk associated with these contracts in the context of its overall risk management framework. Jefferies believes notional amounts overstate its expected payout and that fair value of these contracts is a more relevant measure of its obligations. The fair value of derivative contracts meeting the definition of a guarantee is approximately $110.7 million.
Berkadia. We have agreed to reimburse Berkshire Hathaway for up to one-half of any losses incurred under a $2.5 billion surety policy securing outstanding commercial paper issued by an affiliate of Berkadia. As of June 30, 2014, the aggregate amount of commercial paper outstanding was $2.47 billion.
Loan Guarantee. Jefferies has provided a guarantee to Jefferies Finance, whereby it is required to make certain payments to a SPE sponsored by Jefferies Finance in the event that Jefferies Finance is unable to meet its obligations to the SPE. As of June 30, 2014, the maximum amount payable under the guarantee is $21.0 million and matures in January 2021.
Other Guarantees. Jefferies is a member of various exchanges and clearing houses. In the normal course of business Jefferies provides guarantees to securities clearinghouses and exchanges. These guarantees generally are required under the standard membership agreements, such that members are required to guarantee the performance of other members. Additionally, if a member becomes unable to satisfy its obligations to the clearinghouse, other members would be required to meet these shortfalls. To mitigate these performance risks, the exchanges and clearinghouses often require members to post collateral. Jefferies obligations under such guarantees could exceed the collateral amounts posted. Jefferies maximum potential liability under these arrangements cannot be quantified; however, the potential for Jefferies to be required to make payments under such guarantees is deemed remote. Accordingly no liability has been recognized for these arrangements.
Standby Letters of Credit. At June 30, 2014, Jefferies provided guarantees to certain counterparties in the form of standby letters of credit in the amount of $31.6 million, which expire within one year. Standby letters of credit commit Jefferies to make payment to the beneficiary if the guaranteed party fails to fulfill its obligation under a contractual arrangement with that beneficiary. Since commitments associated with these collateral instruments may expire unused, the amount shown does not necessarily reflect the actual future cash funding requirement.
Other subsidiaries of ours have outstanding letters of credit aggregating $27.5 million at June 30, 2014.

Net_Capital_Requirements

Net Capital Requirements	6 Months Ended
	Jun. 30, 2014
Net Capital Requirements [Abstract]	'
Net Capital Requirements	'
	Note 24. Net Capital Requirements
	As broker-dealers registered with the SEC and member firms of the Financial Industry Regulatory Authority ("FINRA"), Jefferies LLC and Jefferies Execution Services, Inc. ("Jefferies Execution"), are subject to the SEC Net Capital Rule ("Rule 15c3-1"), which requires the maintenance of minimum net capital and which may limit distributions from the broker-dealers. Jefferies LLC and Jefferies Execution have elected to calculate minimum capital requirements under the alternative method as permitted by Rule 15c3-1. Jefferies Bache, LLC is also registered as a Futures Commission Merchant and is subject to Rule 1.17 of the Commodities Futures Trading Commission. Jefferies designated self-regulatory organization is FINRA for our U.S. broker-dealers and the Chicago Mercantile Exchange for Jefferies Bache, LLC.
	Jefferies LLC, Jefferies Execution and Jefferies Bache, LLC's net capital, adjusted net capital, and excess net capital are as follows (in thousands):
			Net Capital		Excess Net Capital
	Jefferies LLC	$	1,090,453	$	1,016,424
	Jefferies Execution		5,307		5,057
			Adjusted Net Capital		Excess Net Capital
	Jefferies Bache, LLC	$	196,264	$	80,938
	Certain other U.S. and non-U.S. subsidiaries of Jefferies are subject to capital adequacy requirements as prescribed by the regulatory authorities in their respective jurisdictions, including Jefferies International Limited and Jefferies Bache Limited which are subject to the regulatory supervision and requirements of the Financial Conduct Authority in the United Kingdom.
	The regulatory capital requirements referred to above may restrict our ability to withdraw capital from our subsidiaries.

Other_Fair_Value_Information

Other Fair Value Information	6 Months Ended
	Jun. 30, 2014
Other Fair Value Information [Abstract]	'
Other Fair Value Information	'
	Note 25. Other Fair Value Information
	The carrying amounts and estimated fair values of our principal financial instruments that are not recognized at fair value on a recurring basis are as follows (in thousands):
			30-Jun-14				31-Dec-13
			Carrying		Fair		Carrying		Fair
			Amount		Value		Amount		Value
	Other Assets:
	Notes and loans receivable (a)	$	150,390	$	153,551	$	95,042	$	95,606
	Financial Liabilities:
	Short-term borrowings (b)		12,000		12,000		12,000		12,000
	Long-term debt (b)		8,798,056		9,103,165		8,180,865		8,230,191
	(a)	Notes and loans receivable: The fair values are primarily measured using Level 2 and 3 inputs principally based on discounted future cash flows using market interest rates for similar instruments.
	(b)	Short-term borrowings and long-term debt: The fair values of short-term borrowings are estimated to be the carrying amount. The fair values of non-variable rate debt are estimated using quoted prices and estimated rates that would be available for debt with similar terms. The fair value of variable rate debt is estimated to be the carrying amount.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Note 26. Related Party Transactions
	Jefferies Capital Partners and JEP IV Related Funds. Jefferies has loans to and/or equity investments in private equity funds and in Jefferies Capital Partners, LLC, the manager of the Jefferies Capital Partners funds, which are managed by a team led by Brian Friedman ("Private Equity Related Funds"). Reflected in our Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013 are loans to and/or equity investments in Private Equity Related Funds of $63.7 million and $61.7 million, respectively. Net losses aggregating $9.0 million and $11.5 million for the three and six months ended June 30, 2014, respectively, and net losses of $1.0 million for the three and six months ended June 30, 2013 were recorded related to the Private Equity Related Funds. For further information regarding our commitments and funded amounts to Private Equity Related Funds, see Note 23.
	Berkadia Commercial Mortgage, LLC. At June 30, 2014 and December 31, 2013, Jefferies has commitments to purchase $433.1 million and $300.0 million, respectively, in agency commercial mortgage-backed securities from Berkadia.
	Officers, Directors and Employees. We have $15.5 million and $13.9 million of loans outstanding to certain employees (none of whom are an executive officer or director of the Company) that are included in Other assets in the Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013, respectively.
	National Beef. National Beef enters into transactions with affiliates of NBPCo Holdings and USPB, owners of redeemable noncontrolling interests in National Beef. For the six months ended June 30, 2014, sales to and purchases from the affiliate of NBPCo Holdings were $19.3 million and $7.0 million, respectively. For the six months ended June 30, 2013, sales to and purchases from the affiliate of NBPCo Holdings were $13.1 million and $4.8 million, respectively. We believe these transactions are based upon prevailing market prices on terms that could be obtained from an unaffiliated party. National Beef has entered into a cattle supply agreement with USPB pursuant to which National Beef has agreed to purchase through USPB from the members of USPB 735,385 head of cattle per year (subject to adjustment), based on pricing grids furnished by National Beef to the members of USPB. National Beef believes the pricing grids are based on terms that could be obtained from an unaffiliated party. National Beef obtained approximately 23% and 22% of its cattle requirements through USPB during the six months ended June 30, 2014 and 2013, respectively. At June 30, 2014 and December 31, 2013, amounts due from and payable to these related parties were not significant.
	HomeFed. As more fully described in Note 11, in March 2014 we sold to HomeFed substantially all of our real estate properties and operations, most of our interest in BRP and cash of $12.5 million (subject to adjustment), in exchange for 6,986,337 newly issued unregistered HomeFed common shares. The remainder of our interest in BRP will be sold to HomeFed for 513,663 additional HomeFed common shares upon receipt of the approval of a lender to BRP; closing of this portion of the transaction is expected during the third quarter of 2014. As discussed in Note 11, as a result of a 1998 distribution to all of our shareholders, approximately 5% of HomeFed is beneficially owned by our Chairman at June 30, 2014. Our Chairman also serves as HomeFed's Chairman and our President is a Director of HomeFed.

Discontinued_Operations_And_As

Discontinued Operations And Assets Held For Sale	6 Months Ended
	Jun. 30, 2014
Discontinued Operations And Assets Held For Sale [Abstract]	'
Discontinued Operations And Assets Held For Sale	'
	Note 27. Discontinued Operations and Assets Held for Sale
	In October 2013, we concluded that we would no longer continue to fund Sangart's research and development operations, through which we had conducted our medical product development operations. We commenced and completed an orderly shut-down of Sangart's operations during 2013; as a result, our medical product development operations have been classified as a discontinued operation.
	In July 2014, we sold Premier, through which we had conducted our gaming operations, for aggregate cash consideration of $250.0 million, subject to working capital adjustment. We expect to record in the third quarter a pre-tax gain on sale of discontinued operations of approximately $12.5 million.
	During the third quarter of 2013, we sold a small power production business and recorded a pre-tax gain on sale of discontinued operations of $6.4 million.
	A summary of the results of discontinued operations for Sangart, Premier and the small power production business is as follows for the three and six months ended June 30, 2014 and 2013 (in thousands):
			For the Three Month					For the Six Month
			Period Ended June 30,					Period Ended June 30,
			2014		2013			2014		2013
	Revenues and other income:
	Gaming entertainment	$	33,341	$	29,305		$	64,345	$	58,345
	Investment and other income		11		120			31		224
			33,352		29,425			64,376		58,569
	Expenses:
	Direct operating expenses -
	Gaming entertainment		23,922		21,149			47,351		42,706
	Compensation and benefits		1,882		4,762			3,054		10,362
	Depreciation and amortization		2,393		2,224			4,617		4,522
	Selling, general and other expenses		383		4,930			972		9,986
			28,580		33,065			55,994		67,576
	Income (loss) from discontinued
	operations before income taxes		4,772		(3,640	)		8,382		(9,007	)
	Income tax provision (benefit)		1,670		(1,217	)		2,934		(3,042	)
	Income (loss) from discontinued
	operations after income taxes	$	3,102	$	(2,423	)	$	5,448	$	(5,965	)
	In February 2014, we agreed to sell substantially all of our real estate properties and operations and BRP to HomeFed for HomeFed common shares. Results of operations for our real estate properties and operations are reflected in the other operations segment. Assets included in the transaction with HomeFed have been included with Other assets as Assets held for sale in the Consolidated Statement of Financial Condition at December 31, 2013 and include the following components (in thousands):
			2013
	Real estate	$	112,016
	Investment in associated company		30,793
	Other, net		17,310
		$	160,119

Segment_Information

Segment Information	6 Months Ended
	Jun. 30, 2014
Segment Information [Abstract]	'
Segment Information	'
	Note 28. Segment Information
	Our reportable segments consist of our consolidated operating units, which offer different products and services and are managed separately. Jefferies is a global full-service, integrated securities and investment banking firm. National Beef processes, packages and delivers fresh and frozen beef and beef by-products for sale to customers in the U.S. and international markets. Other operations primarily consist of manufacturing, energy projects and asset management.
	Corporate revenues primarily consist of principal transactions, interest and other income and net realized securities gains and losses. Corporate assets, revenues, overhead expenses and interest expense are not allocated to the operating units.
	Certain information concerning our segments for the three and six months ended June 30, 2014 and 2013 is presented in the following table. Consolidated subsidiaries are reflected as of the date a majority controlling interest was acquired. As discussed above, Jefferies became our wholly-owned subsidiary on March 1, 2013 and is reflected in our consolidated financial statements utilizing a one month lag.
			For the Three Month					For the Six Month
			Period Ended June 30,					Period Ended June 30,
			2014			2013			2014			2013
		(In thousands)
	Net Revenues:
	Investment Banking & Capital Markets	$	689,303		$	651,509		$	1,619,815		$	651,509
	Beef Processing Services		2,009,093			1,920,423			3,896,471			3,709,865
	Other Operations		113,803			85,382			210,387			175,068
	Corporate		39,855			18,411			68,695			436,896
	Total consolidated net revenues	$	2,852,054		$	2,675,725		$	5,795,368		$	4,973,338
	Income (loss) from continuing operations before
	income taxes and income related to associated
	companies:
	Investment Banking & Capital Markets	$	85,568		$	77,603		$	281,938		$	77,603
	Beef Processing Services		6,518			27,286			(21,495	)		6,772
	Other Operations		(6,014	)		(22,115	)		(23,515	)		(27,427	)
	Corporate		(14,794	)		(33,828	)		(45,905	)		315,113
	Total consolidated income from continuing
	operations before income taxes and income
	related to associated companies	$	71,278		$	48,946		$	191,023		$	372,061
	Depreciation and amortization expenses:
	Investment Banking & Capital Markets	$	18,383		$	18,934		$	35,414		$	18,934
	Beef Processing Services		21,195			21,855			41,955			43,588
	Other Operations		6,115			4,393			10,617			9,961
	Corporate		1,339			2,994			2,676			6,170
	Total consolidated depreciation and
	amortization expenses	$	47,032		$	48,176		$	90,662		$	78,653
	Other operations includes pre-tax losses of $12.8 million and $14.6 million for the three months ended June 30, 2014 and 2013, respectively, and $32.6 million and $27.7 million for the six months ended June 30, 2014 and 2013, respectively, for the investigation and evaluation of various energy related projects. There were no significant operating revenues associated with these activities.
	Net realized securities gains for corporate aggregated $12.3 million and $9.5 million for the three months ended June 30 2014 and 2013, respectively, and $17.1 million and $239.4 million for the six months ended June 30, 2014 and 2013, respectively. In the six months ended June 30, 2013, realized security gains include $227.6 million related to the sale of Inmet.
	Depreciation and amortization expenses for other operations include amounts classified within Cost of sales and Selling, general and other expenses in the Consolidated Statements of Operations.
	Interest expense classified as a component of Net revenues relates to the investment banking & capital markets segment. For the three months ended June 30, 2014 and 2013, interest expense classified as a component of Expenses was primarily comprised of beef processing services ($3.8 million and $3.2 million, respectively) and corporate ($24.4 million and $17.9 million, respectively). For the six months ended June 30, 2014 and 2013, interest expense classified as a component of Expenses was primarily comprised of beef processing services ($6.9 million and $6.5 million, respectively) and corporate ($49.5 million and $36.0 million, respectively).

Significant_Accounting_Policie1

Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2014
Significant Accounting Policies [Abstract]	'
Consolidation	'
	Consolidation
	Our policy is to consolidate all entities in which we can vote a majority of the outstanding voting stock. In addition, we consolidate entities which meet the definition of a variable interest entity for which we are the primary beneficiary. The primary beneficiary is the party who has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. We consider special allocations of cash flows and preferences, if any, to determine amounts allocable to noncontrolling interests. All intercompany transactions and balances are eliminated in consolidation.
	In situations where we have significant influence, but not control, of an entity that does not qualify as a variable interest entity, we apply either the equity method of accounting or fair value accounting pursuant to the fair value option election under GAAP. We have also formed nonconsolidated investment vehicles with third-party investors that are typically organized as partnerships or limited liability companies and are carried at fair value. Our subsidiaries may act as general partner or managing member for these investment vehicles and have generally provided the third-party investors with termination or "kick-out" rights.
Revenue Recognition Policies	'
	Revenue Recognition Policies
	Beef Processing and Other Operations
	Revenues are recognized when the following conditions are met: (1) collectibility is reasonably assured; (2) title to the product has passed or the service has been rendered and earned; (3) persuasive evidence of an arrangement exists; and (4) there is a fixed or determinable price. National Beef's revenues are recognized based on the terms of the sale, which for beef processing operations is typically upon delivery to customers. Manufacturing revenues are recognized when title passes.
	Investment Banking Activities
	Commissions. All customer securities transactions are reported in the Consolidated Statements of Financial Condition on a settlement date basis with related income reported on a trade date basis. We permit institutional customers to allocate a portion of their gross commissions to pay for research products and other services provided by third parties. The amounts allocated for those purposes are commonly referred to as soft dollar arrangements. These arrangements are accounted for on an accrual basis and, as we are not the primary obligor for these arrangements, netted against commission revenues in the Consolidated Statements of Operations. The commissions and related expenses on client transactions executed by Jefferies Bache, LLC, a futures commission merchant, are recorded on a half-turn basis.
	Principal Transactions. Trading assets and trading liabilities are carried at fair value with gains and losses reflected in Principal transactions in the Consolidated Statements of Operations on a trade date basis. Fees received on loans carried at fair value are also recorded within Principal transactions.
	Investment Banking. Underwriting revenues and fees from mergers and acquisitions, restructuring and other investment banking advisory assignments or engagements are recorded when the services related to the underlying transactions are completed under the terms of the assignment or engagement. Expenses associated with such assignments are deferred until reimbursed by the client, the related revenue is recognized or the engagement is otherwise concluded. Expenses are recorded net of client reimbursements and netted against revenues. Unreimbursed expenses with no related revenues are included in Selling, general and administrative expenses in the Consolidated Statements of Operations.
	Interest Revenue and Expense. Interest expense that is deducted from Revenues to arrive at Net revenues is related to Jefferies operations. Contractual interest on Trading assets and Trading liabilities is recognized on an accrual basis as a component of Interest income and Interest expense. Interest flows on derivative trading transactions and dividends are included as part of the fair valuation of these contracts and recognized in Principal transactions in the Consolidated Statements of Operations rather than as a component of interest income or expense. Discounts/premiums arising on long-term debt are accreted/amortized to Interest expense using the effective yield method over the remaining lives of the underlying debt obligations.
Cash Equivalents	'
	Cash Equivalents
	Cash equivalents include highly liquid investments, including certificates of deposit and money market funds, not held for resale with original maturities of three months or less.
Cash And Securities Segregated And On Deposit For Regulatory Purposes Or Deposited With Clearing And Depository Organizations	'
	Cash and Securities Segregated and on Deposit for Regulatory Purposes or Deposited With Clearing and Depository Organizations
	In accordance with Rule 15c3-3 of the Securities Exchange Act of 1934, Jefferies LLC as a broker-dealer carrying client accounts, is subject to requirements related to maintaining cash or qualified securities in a segregated reserve account for the exclusive benefit of its clients. In addition, certain financial instruments used for initial and variation margin purposes with clearing and depository organizations are recorded in this caption. Jefferies Bache, LLC, as a futures commission merchant, is obligated by rules mandated by the Commodities Futures Trading Commission under the Commodities Exchange Act, to segregate or set aside cash or qualified securities to satisfy such regulations, which regulations have been promulgated to protect customer assets. Certain other entities are also obligated by rules mandated by their primary regulators to segregate or set aside cash or equivalent securities to satisfy regulations, promulgated to protect customer assets.
Financial Instruments	'
	Financial Instruments
	Trading assets and trading liabilities are recorded at fair value, either as required by accounting pronouncements or through the fair value option election. Trading assets and trading liabilities include Jefferies trading activities, financial instruments of other consolidated entities that are accounted for through the fair value option election and, prior to the Jefferies acquisition, trading assets include our investment in Jefferies common shares. Gains and losses on trading assets and trading liabilities are recognized in our Consolidated Statements of Operations in Principal transactions. Available for sales securities are reflected at fair value, with unrealized gains and losses reflected as a separate component of equity, net of taxes. When sold, realized gains and losses on available for sale securities are reflected in the caption Net realized securities gains. The cost of securities sold is based on average cost. Fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price).
Fair Value Hierarchy	'
	Fair Value Hierarchy
	In determining fair value, we maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs reflect our assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. We apply a hierarchy to categorize our fair value measurements broken down into three levels based on the transparency of inputs as follows:
	Level 1: Quoted prices are available in active markets for identical assets or liabilities as of the reported date.
	Level 2: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these financial instruments include cash instruments for which quoted prices are available but traded less frequently, derivative instruments whose fair value have been derived using a model where inputs to the model are directly observable in the market, or can be derived principally from or corroborated by observable market data, and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed.
	Level 3: Instruments that have little to no pricing observability as of the reported date. These financial instruments are measured using management's best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.
	Financial instruments are valued at quoted market prices, if available. Certain financial instruments have bid and ask prices that can be observed in the marketplace. For financial instruments whose inputs are based on bid-ask prices, the financial instrument is valued at the point within the bid-ask range that meets our best estimate of fair value. We use prices and inputs that are current as of the measurement date. For financial instruments that do not have readily determinable fair values using quoted market prices, the determination of fair value is based upon consideration of available information, including types of financial instruments, current financial information, restrictions on dispositions, fair values of underlying financial instruments and quotations for similar instruments.
	The valuation of financial instruments may include the use of valuation models and other techniques. Adjustments to valuations derived from valuation models may be made when, in management's judgment, features of the financial instrument such as its complexity, the market in which the financial instrument is traded and risk uncertainties about market conditions require that an adjustment be made to the value derived from the models. Adjustments from the price derived from a valuation model reflect management's judgment that other participants in the market for the financial instrument being measured at fair value would also consider in valuing that same financial instrument. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
	The availability of observable inputs can vary and is affected by a wide variety of factors, including, for example, the type of financial instrument and market conditions. As the observability of prices and inputs may change for a financial instrument from period to period, this condition may cause a transfer of an instrument among the fair value hierarchy levels. Transfers among the levels are recognized at the beginning of each period. The degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
Jefferies Valuation Process For Financial Instruments	'
	Jefferies Valuation Process for Financial Instruments
	The Jefferies Independent Price Verification ("IPV") Group, which is part of the Jefferies finance department, in partnership with Jefferies Risk Management, is responsible for establishing Jefferies valuation policies and procedures. The IPV Group and Risk Management, which are independent of business functions, play an important role and serve as a control function in determining that Jefferies financial instruments are appropriately valued and that fair value measurements are reliable. This is particularly important where prices or valuations that require inputs are less observable. In the event that observable inputs are not available, the control processes are designed to assure that the valuation approach utilized is appropriate and consistently applied and that the assumptions are reasonable. The IPV Group reports to the Jefferies Global Controller and is subject to the oversight of the IPV Committee, which includes senior members of Jefferies finance department and other personnel. Jefferies independent price verification policies and procedures are reviewed, at a minimum, annually and changes to the policies require the approval of the IPV Committee.
	Price Testing Process. The business units are responsible for determining the fair value of Jefferies financial instruments using approved valuation models and methodologies. In order to ensure that the business unit valuations represent a fair value exit price, the IPV Group tests and validates the fair value of the financial instruments inventory. In the testing process, the IPV Group obtains prices and valuation inputs from sources independent of Jefferies, consistently adheres to established procedures set forth in the valuation policies for sourcing prices and valuation inputs and utilizing valuation methodologies. Sources used to validate fair value prices and inputs include, but are not limited to, exchange data, recently executed transactions, pricing data obtained from third party vendors, pricing and valuation services, broker quotes and observed comparable transactions.
	To the extent discrepancies between the business unit valuations and the pricing or valuations resulting from the price testing process are identified, such discrepancies are investigated by the IPV Group and fair values are adjusted, as appropriate. The IPV Group maintains documentation of its testing, results, rationale and recommendations and prepares a monthly summary of its valuation results. This process also forms the basis for the classification of fair values within the fair value hierarchy (i.e., Level 1, Level 2 or Level 3). The IPV Group utilizes the additional expertise of Risk Management personnel in valuing more complex financial instruments and financial instruments with less or limited pricing observability. The results of the valuation testing are reported to the IPV Committee on a monthly basis, which discusses the results and is charged with the final conclusions as to the financial instrument fair values in the consolidated financial statements. This process specifically assists management in asserting as to the fair presentation of our financial condition and results of operations as included within our Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. At each quarter end, the overall valuation results, as concluded upon by the IPV Committee, are presented to the Jefferies Audit Committee.
	Judgment exercised in determining Level 3 fair value measurements is supplemented by daily analysis of profit and loss performed by the Product Control functions. Gains and losses, which result from changes in fair value, are evaluated and corroborated daily based on an understanding of each of the trading desks' overall risk positions and developments in a particular market on the given day. Valuation techniques generally rely on recent transactions of suitably comparable financial instruments and use the observable inputs from those comparable transactions as a validation basis for Level 3 inputs. Level 3 fair value measurements are further validated through subsequent sales testing and market comparable sales, if such information is available. Level 3 fair value measurements require documentation of the valuation rationale applied, which is reviewed for consistency in application from period to period; and the documentation includes benchmarking the assumptions underlying the valuation rationale against relevant analytic data.
	Third Party Pricing Information. Pricing information obtained from external data providers (including independent pricing services and brokers) may incorporate a range of market quotes from dealers, recent market transactions and benchmarking model derived prices to quoted market prices and trade data for comparable securities. External pricing data is subject to evaluation for reasonableness by the IPV Group using a variety of means including comparisons of prices to those of similar product types, quality and maturities, consideration of the narrowness or wideness of the range of prices obtained, knowledge of recent market transactions and an assessment of the similarity in prices to comparable dealer offerings in a recent time period. Jefferies has a process whereby it challenges the appropriateness of pricing information obtained from external data providers (including independent pricing services and brokers) in order to validate the data for consistency with the definition of a fair value exit price. Jefferies process includes understanding and evaluating the external data providers' valuation methodologies. For corporate, U.S. government and agency, and municipal debt securities, and loans, to the extent independent pricing services or broker quotes are utilized in our valuation process, the vendor service providers are collecting and aggregating observable market information as to recent trade activity and active bid-ask submissions. The composite pricing information received from the independent pricing service is not based on unobservable inputs or proprietary models. For mortgage- and other asset-backed securities and collateralized debt obligations, the independent pricing service uses a matrix evaluation approach incorporating both observable yield curves and market yields on comparable securities as well as implied inputs from observed trades for comparable securities in order to determine prepayment speeds, cumulative default rates and loss severity. Further, Jefferies considers pricing data from multiple service providers as available as well as compares pricing data to prices observed for recent transactions, if any, in order to corroborate valuation inputs.
	Model Review Process. Where a pricing model is to be used to determine fair value, the pricing model is reviewed for theoretical soundness and appropriateness by Risk Management, independent from the trading desks, and then approved by Risk Management to be used in the valuation process. Review and approval of a model for use may include benchmarking the model against relevant third party valuations, testing sample trades in the model, backtesting the results of the model against actual trades and stress-testing the sensitivity of the pricing model using varying inputs and assumptions. In addition, recently executed comparable transactions and other observable market data are considered for purposes of validating assumptions underlying the model. Models are independently reviewed and validated by Risk Management annually or more frequently if market conditions or use of the valuation model changes.
Investments In Managed Funds	'
	Investments in Managed Funds
	Investments in managed funds include our investments in funds managed by us and our investments in related party managed funds in which we are entitled to a portion of the management and/or performance fees. Investments in nonconsolidated managed funds are accounted for at fair value with gains or losses included in the Consolidated Statements of Operations.
	Asset management fees and investment income from managed funds include revenues we earn from management, administrative and performance fees from funds and accounts managed by us, revenues from management and performance fees we earn from related-party managed funds and investment income from our investments in these funds. We earn fees in connection with management and investment advisory services performed for various funds and managed accounts. These fees are based on assets under management or an agreed upon notional amount and may include performance fees based upon the performance of the funds. Management and administrative fees are generally recognized over the period that the related service is provided. Generally, performance fees are earned when the return on assets under management exceeds certain benchmark returns, "high-water marks" or other performance targets. Performance fees are accrued (or reversed) on a monthly basis based on measuring performance to date versus any relevant benchmark return hurdles stated in the investment management agreement. Performance fees are not subject to adjustment once the measurement period ends (generally annual periods) and the performance fees have been realized.
Loans To And Investments In Associated Companies	'
	Loans to and Investments in Associated Companies
	Loans to and investments in associated companies include investments in private equity and other operating entities in which we exercise significant influence over operating and capital decisions and loans issued in connection with such investments. Loans to and investments in associated companies are accounted for using the equity method. See Notes 11 and 26 for additional information regarding certain of these investments.
	Under the equity method of accounting, our share of the investee's underlying net income or loss is recorded as Income (loss) related to associated companies, or as part of Other revenues if such investees are considered to be an extension of our business. Income (loss) for investees for which the fair value option was elected are reported as Principal transactions revenues.
Receivables From And Payables To Customers Of Securities Operations	'
	Receivables from and Payables to Customers of Securities Operations
	Receivables from and payables to customers of securities operations include amounts receivable and payable on cash and margin transactions. Securities owned by customers and held as collateral for these receivables are not reflected in the accompanying consolidated financial statements. Receivables from officers and directors included within this financial statement line item represent balances arising from their individual security transactions. These transactions are subject to the same regulations as customer transactions and are provided on substantially the same terms.
Securities Borrowed And Securities Loaned	'
	Securities Borrowed and Securities Loaned
	Securities borrowed and securities loaned are carried at the amounts of cash collateral advanced and received in connection with the transactions and accounted for as collateralized financing transactions. In connection with both trading and brokerage activities, Jefferies borrows securities to cover short sales and to complete transactions in which customers have failed to deliver securities by the required settlement date, and lend securities to other brokers and dealers for similar purposes. Jefferies has an active securities borrowed and lending matched book business in which it borrows securities from one party and lends them to another party. When Jefferies borrows securities, it generally provides cash to the lender as collateral, which is reflected in the Consolidated Statements of Financial Condition as Securities borrowed. Jefferies earns interest revenues on this cash collateral. Similarly, when Jefferies lends securities to another party, that party provides cash to Jefferies as collateral, which is reflected in the Consolidated Statements of Financial Condition as Securities loaned. Jefferies pays interest expense on the cash collateral received from the party borrowing the securities. The initial collateral advanced or received approximates or is greater than the fair value of the securities borrowed or loaned. Jefferies monitors the fair value of the securities borrowed and loaned on a daily basis and requests additional collateral or returns excess collateral, as appropriate.
Securities Purchased Under Agreements To Resell And Securities Sold Under Agreements To Repurchase	'
	Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase
	Securities purchased under agreements to resell and Securities sold under agreements to repurchase (collectively "repos") are accounted for as collateralized financing transactions and are recorded at their contracted resale or repurchase amount plus accrued interest. Repos are presented in the Consolidated Statements of Financial Condition on a net-basis-by counterparty, where permitted by GAAP. The fair value of the underlying securities is monitored daily versus the related receivable or payable balances. Should the fair value of the underlying securities decline or increase, additional collateral is requested or excess collateral is returned, as appropriate.
Property, Equipment And Leasehold Improvements	'
	Property, Equipment and Leasehold Improvements
	Property, equipment and leasehold improvements are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are provided principally on the straight-line method over the estimated useful lives of the assets or, if less, the term of the underlying lease.
Impairment Of Long-Lived Assets	'
	Impairment of Long-Lived Assets
	We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate, in management's judgment, that the carrying value of such assets may not be recoverable. When testing for impairment, we group our long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of whether an asset group is recoverable is based on management's estimate of undiscounted future cash flows directly attributable to the asset group as compared to its carrying value. If the carrying amount of the asset group is greater than the undiscounted cash flows, an impairment loss would be recognized for the amount by which the carrying amount of the asset group exceeds its estimated fair value.
	Substantially all of our operating businesses sell products or services that are impacted by general economic conditions in the U.S. and to a lesser extent internationally. In recent years general economic conditions reduced the demand for products or services sold by our operating subsidiaries and/or resulted in reduced pricing for products or services. A worsening of current economic conditions could cause a decline in estimated future cash flows expected to be generated by our operations and investments. If future undiscounted cash flows are estimated to be less than the carrying amounts of the asset groups used to generate those cash flows in subsequent reporting periods, particularly for those with large investments in intangible assets and property and equipment (for example, investment banking & capital markets, beef processing, manufacturing, real estate and certain associated company investments), impairment charges would have to be recorded.
Intangible Assets, Net And Goodwill	'
	Intangible Assets, Net and Goodwill
	Intangible Assets. Intangible assets deemed to have finite lives are amortized on a straight-line basis over their estimated useful lives, where the useful life is the period over which the asset is expected to contribute directly, or indirectly, to our future cash flows. Intangible assets are reviewed for impairment on an interim basis when certain events or circumstances exist. If future undiscounted cash flows are estimated to be less than the carrying amounts of the asset groups used to generate those cash flows in subsequent reporting periods, particularly for those with large investments in amortizable intangible assets, impairment charges would have to be recorded.
	An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when certain events or circumstances exist indicating an assessment for impairment is necessary. Impairment exists when the carrying amount exceeds its fair value. Fair value will be determined using valuation techniques consistent with what a market participant would use. All of our annual indefinite-lived intangible assets were recognized in connection with the Jefferies acquisition, and our impairment testing date is as of August 1.
	Goodwill. At acquisition, we allocate the cost of a business acquisition to the specific tangible and intangible assets acquired and liabilities assumed based upon their fair values. Significant judgments and estimates are often made by management to determine these values, and may include the use of appraisals, consideration of market quotes for similar transactions, use of discounted cash flow techniques or consideration of other information we believe to be relevant. Any excess of the cost of a business acquisition over the fair values of the net assets and liabilities acquired is recorded as goodwill, which is not amortized to expense. Substantially all of our goodwill was recognized in connection with the Jefferies acquisition.
	At least annually, and more frequently if warranted, we will assess whether goodwill has been impaired. If the estimated fair value exceeds the carrying value, goodwill at the reporting unit level is not impaired. If the estimated fair value is less than carrying value, further analysis is necessary to determine the amount of impairment, if any. The fair values will be based on widely accepted valuation techniques that we believe market participants would use, although the valuation process requires significant judgment and often involves the use of significant estimates and assumptions. The methodologies we utilize in estimating fair value include market capitalization, price-to-book multiples of comparable exchange traded companies, multiples of merger and acquisitions of similar businesses and/or projected cash flows. The estimates and assumptions used in determining fair value could have a significant effect on whether or not an impairment charge is recorded and the magnitude of such a charge. Adverse market or economic events could result in impairment charges in future periods. Our annual goodwill impairment testing date related to Jefferies is as of August 1.
Inventories And Cost Of Sales	'
	Inventories and Cost of Sales
	National Beef's inventories consist primarily of beef products, beef by-products and supplies, and are stated at the lower of cost or market, with cost principally determined under the first-in-first-out method for beef products and average cost for supplies.
	Manufacturing inventories are stated at the lower of cost or market, with cost principally determined under the first-in-first-out method. Manufacturing cost of sales principally includes product and manufacturing costs, inbound and outbound shipping costs and handling costs.
Income Taxes	'
	Income Taxes
	We record a valuation allowance to reduce our net deferred tax asset to the net amount that is more likely than not to be realized. If in the future we determine that it is more likely than not that we will be able to realize our net deferred tax asset in excess of our net recorded amount, an adjustment to increase the net deferred tax asset would increase income in such period. If in the future we were to determine that we would not be able to realize all or part of our recorded net deferred tax asset, an adjustment to decrease the net deferred tax asset would be charged to income in such period. We are required to consider all available evidence, both positive and negative, and to weight the evidence when determining whether a valuation allowance is required and the amount of such valuation allowance. Generally, greater weight is required to be placed on objectively verifiable evidence when making this assessment, in particular on recent historical operating results.
	Our estimate of future taxable income considers all available evidence, both positive and negative, about our operating businesses and investments, includes an aggregation of individual projections for each significant operating business and investment, estimated apportionment factors for state and local taxing jurisdictions and included all future years that we estimate we will have available net operating loss carryforwards ("NOLs") (until 2029). We believe that our estimate of future taxable income is reasonable but inherently uncertain, and if our current or future operations and investments generate taxable income different than the projected amounts, further adjustments to the valuation allowance are possible. The current balance of the deferred tax valuation allowance principally reserves for NOLs of certain subsidiaries that are not available to offset income generated by other members of the consolidated tax return group.
	We also record reserves for unrecognized tax benefits based on our assessment of the probability of successfully sustaining tax filing positions. Interest and penalties, if any, are recorded as components of income tax expense. Management exercises significant judgment when assessing the probability of successfully sustaining tax filing positions, and in determining whether a contingent tax liability should be recorded and if so estimating the amount. If our tax filing positions are successfully challenged, payments could be required that are in excess of reserved amounts or we may be required to reduce the carrying amount of our net deferred tax asset, either of which could be significant to our Consolidated Statement of Financial Condition or results of operations.
Share-based Compensation	'
	Share-based Compensation
	Share-based awards are measured based on the fair value of the award as determined in accordance with GAAP and recognized over the required service or vesting period. The fair value of options and warrants are estimated at the date of grant using the Black-Scholes option pricing model. Expected forfeitures are included in determining share-based compensation expense.
Foreign Currency Translation	'
	Foreign Currency Translation
	Assets and liabilities of foreign subsidiaries having non-U.S. dollar functional currencies are translated at exchange rates at the end of a period. Revenues and expenses are translated at average exchange rates during the period. The gains or losses resulting from translating foreign currency financial statements into U.S. dollars, net of hedging gains or losses and taxes, if any, are included in other comprehensive income. Gains or losses resulting from foreign currency transactions are included in the Consolidated Statements of Operations.
Earnings Per Common Share	'
	Earnings per Common Share
	Basic earnings per share ("EPS") is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding and certain other shares committed to be, but not yet issued. Net earnings available to common shareholders represent net earnings to common shareholders reduced by the allocation of earnings to participating securities. Losses are not allocated to participating securities. Common shares outstanding and certain other shares committed to be, but not yet issued, include restricted stock and restricted stock units ("RSUs") for which no future service is required. Diluted EPS is computed by dividing net earnings available to common shareholders plus dividends on dilutive mandatorily redeemable convertible preferred shares and interest on convertible notes by the weighted average number of common shares outstanding and certain other shares committed to be, but not yet issued, plus all dilutive common stock equivalents outstanding during the period.
	Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and, therefore, are included in the earnings allocation in computing earnings per share under the two-class method of earnings per share. Restricted stock and RSUs granted as part of share-based compensation contain nonforfeitable rights to dividends and dividend equivalents, respectively, and therefore, prior to the requisite service being rendered for the right to retain the award, restricted stock and RSUs meet the definition of a participating security. As such, we calculate basic and diluted earnings per share under the two-class method.
Securitization Activities	'
	Securitization Activities
	Jefferies engages in securitization activities related to corporate loans, commercial mortgage loans and mortgage-backed and other asset-backed securities. Such transfers of financial assets are accounted for as sales when we have relinquished control over the transferred assets. The gain or loss on sale of such financial assets depends, in part, on the previous carrying amount of the assets involved in the transfer allocated between the assets sold and the retained interests, if any, based upon their respective fair values at the date of sale. We may retain interests in the securitized financial assets as one or more tranches of the securitization. These retained interests are included within Trading assets in the Consolidated Statements of Financial Condition at fair value. Any changes in the fair value of such retained interests are recognized in the Consolidated Statements of Operations.
	When a transfer of assets does not meet the criteria of a sale, the transfer is accounted for as a secured borrowing and we continue to recognize the assets of a secured borrowing in Trading assets and recognize the associated financing in Other secured financings.
Contingencies	'
	Contingencies
	In the normal course of business, we have been named, from time to time, as a defendant in legal and regulatory proceedings.
	We are also involved, from time to time, in other exams, investigations and similar reviews (both formal and informal) by governmental and self-regulatory agencies regarding our businesses, certain of which may result in judgments, settlements, fines, penalties or other injunctions.
	We recognize a liability for a contingency when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the reasonable estimate of a probable loss is a range, we accrue the most likely amount of such loss, and if such amount is not determinable, then we accrue the minimum in the range as the loss accrual. The determination of the outcome and loss estimates requires significant judgment on the part of management, can be highly subjective and is subject to significant change with the passage of time as more information becomes available. Estimating the ultimate impact of litigation matters is inherently uncertain, in particular because the ultimate outcome will rest on events and decisions of others that may not be within our power to control. We do not believe that any of our current litigation will have a significant adverse effect on our consolidated financial position, results of operations or liquidity; however, if amounts paid at the resolution of litigation are in excess of recorded reserve amounts, the excess could be significant in relation to results of operations for that period. For further information, see Note 23.

Acquisitions_Tables

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2014
Acquisitions [Abstract]	'
Schedule Of Allocation Of The Purchase Price To The Assets Acquired And Liabilities Assumed At Acquisition Date	'
	Assets
	Cash and cash equivalents	$	3,017,958
	Cash and securities segregated and on deposit for regulatory purposes or
	deposited with clearing and depository organizations		3,728,742
	Trading assets		16,413,535
	Loans to and investments in associated companies		766,893
	Securities borrowed		5,315,488
	Securities purchased under agreements to resell		3,578,366
	Intangible assets, net		282,852
	Goodwill		1,722,591
	Deferred tax asset, net		539,384
	Other assets		4,386,419
	Total assets		39,752,228
	Liabilities
	Short-term borrowings		100,000
	Trading liabilities		9,766,876
	Securities loaned		1,902,687
	Securities sold under agreements to repurchase		7,976,492
	Payables to customers of securities operations		5,450,781
	Trade payables, expense accruals and other liabilities		2,724,136
	Mandatorily redeemable preferred interest in JHYH held by Leucadia		358,951
	Long-term debt		6,345,536
	Total liabilities		34,625,459
	Noncontrolling interests		356,180
	Net assets acquired	$	4,770,589
Amounts Allocated To Intangible Assets, The Amortization Period And Goodwill	'
				Amortization
			Amount	Years
	Customer relationships	$	136,002	9 to 18 years
	Tradenames and related trademarks		131,299	35 years
	Exchange and clearing organization
	membership interests and registrations		15,551	Indefinite
	Subtotal, intangible assets		282,852
	Goodwill		1,722,591
	Total	$	2,005,443
Pro Forma Operating Results	'
			For the Three Month		For the Six Month
			Period Ended		Period Ended
			30-Jun-13		30-Jun-13
	Net revenues	$	2,675,725	$	5,631,515
	Net income attributable to Leucadia National Corporation
	common shareholders	$	57,314	$	253,403
	Basic income per common share attributable to Leucadia
	National Corporation common shareholders	$	0.15	$	0.66
	Diluted income per common share attributable to Leucadia
	National Corporation common shareholders	$	0.15	$	0.66

Fair_Value_Disclosures_Tables

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Schedule Of Assets And Liabilities Measured On Recurring Basis At Fair Value	'
		30-Jun-14
									Counterparty
									and
									Cash
									Collateral
			Level 1 (1)		Level 2 (1)		Level 3		Netting (2)			Total
	Assets:
	Trading assets, at fair value:
	Corporate equity securities	$	2,774,650	$	345,139	$	16,402	$	–		$	3,136,191
	Corporate debt securities		–		3,171,520		31,648		–			3,203,168
	Collateralized debt obligations		–		290,292		42,313		–			332,605
	U.S. government and federal agency securities		2,176,254		74,996		–		–			2,251,250
	Municipal securities		–		690,649		–		–			690,649
	Sovereign obligations		1,540,017		1,018,348		–		–			2,558,365
	Residential mortgage-backed securities		–		3,024,940		71,962		–			3,096,902
	Commercial mortgage-backed securities		–		579,591		24,246		–			603,837
	Other asset-backed securities		–		13,603		45,444		–			59,047
	Loans and other receivables		–		1,426,045		138,643		–			1,564,688
	Derivatives		87,612		2,813,166		913		(2,648,507	)		253,184
	Investments at fair value		–		5,361		140,452		–			145,813
	Physical commodities		–		47,166		–		–			47,166
	Total trading assets	$	6,578,533	$	13,500,816	$	512,023	$	(2,648,507	)	$	17,942,865
	Available for sale securities:
	Corporate equity securities	$	103,283	$	–	$	–	$	–		$	103,283
	Corporate debt securities		–		38,368		–		–			38,368
	U.S. government securities		945,872		–		–		–			945,872
	Residential mortgage-backed securities		–		584,621		–		–			584,621
	Commercial mortgage-backed securities		–		49,127		–		–			49,127
	Other asset-backed securities		–		223,209		–		–			223,209
	Total available for sale securities	$	1,049,155	$	895,325	$	–	$	–		$	1,944,480
	Cash and cash equivalents	$	4,186,725	$	–	$	–	$	–		$	4,186,725
	Investments in managed funds		$ –	$	195,069	$	56,119	$	–		$	251,188
	Cash and securities segregated and on deposit for regulatory
	purposes or deposited with clearing and depository
	organizations (3)	$	3,288,517	$	–	$	–	$	–		$	3,288,517
	Securities received as collateral	$	126,106	$	–	$	–	$	–		$	126,106
	Liabilities:
	Trading liabilities:
	Corporate equity securities	$	1,632,106	$	52,160	$	38	$	–		$	1,684,304
	Corporate debt securities		–		1,510,841		2,780		–			1,513,621
	U.S. government and federal agency securities		1,554,835		–		–		–			1,554,835
	Sovereign obligations		1,517,111		716,275		–		–			2,233,386
	Residential mortgage-backed securities		–		16,837		–		–			16,837
	Loans		–		872,322		31,534		–			903,856
	Derivatives		75,585		2,881,585		16,195		(2,747,077	)		226,288
	Physical commodities		–		39,173		–		–			39,173
	Total trading liabilities	$	4,779,637	$	6,089,193	$	50,547	$	(2,747,077	)	$	8,172,300
	Other secured financings	$	–	$	–	$	20,288	$	–		$	20,288
	Obligation to return securities received as collateral	$	126,106	$	–	$	–	$	–		$	126,106
		31-Dec-13
									Counterparty
									and
									Cash
									Collateral
			Level 1 (1)		Level 2 (1)		Level 3		Netting (2)			Total
	Assets:
	Trading assets, at fair value:
	Corporate equity securities	$	1,957,963	$	175,493	$	9,884	$	–		$	2,143,340
	Corporate debt securities		–		2,961,857		25,666		–			2,987,523
	Collateralized debt obligations		–		182,095		37,216		–			219,311
	U.S. government and federal agency securities		2,293,221		40,389		–		–			2,333,610
	Municipal securities		–		664,054		–		–			664,054
	Sovereign obligations		1,458,803		889,685		–		–			2,348,488
Residential mortgage-backed securities		–		2,932,268		105,492		–			3,037,760
Commercial mortgage-backed securities		–		1,130,410		17,568		–			1,147,978
Other asset-backed securities		–		55,475		12,611		–			68,086
Loans and other receivables		–		1,203,238		145,890		–			1,349,128
Derivatives		40,952		2,472,238		1,493		(2,253,589	)		261,094
Investments at fair value		–		40		101,242		–			101,282
Physical commodities		–		37,888		–		–			37,888
Total trading assets	$	5,750,939	$	12,745,130	$	457,062	$	(2,253,589	)	$	16,699,542
Available for sale securities:
Corporate equity securities	$	252,531	$	–	$	–	$	–		$	252,531
Corporate debt securities		–		51,163		–		–			51,163
U.S. government securities		1,781,266		–		–		–			1,781,266
Residential mortgage-backed securities		–		579,162		–		–			579,162
Commercial mortgage-backed securities		–		17,985		–		–			17,985
Other asset-backed securities		–		184,036		–		–			184,036
Total available for sale securities	$	2,033,797	$	832,346	$	–	$	–		$	2,866,143
Cash and cash equivalents	$	3,907,595	$	–	$	–	$	–		$	3,907,595
Investments in managed funds	$	–	$	–	$	57,285	$	–		$	57,285
Cash and securities segregated and on deposit for regulatory
purposes or deposited with clearing and depository
organizations (3)	$	3,616,602	$	–	$	–	$	–		$	3,616,602
Securities received as collateral	$	11,063	$	–	$	–	$	–		$	11,063
Liabilities:
Trading liabilities:
Corporate equity securities	$	1,804,392	$	40,358	$	38	$	–		$	1,844,788
Corporate debt securities		–		1,346,078		–		–			1,346,078
U.S. government and federal agency securities		1,324,326		–		–		–			1,324,326
Sovereign obligations		1,360,269		471,088		–		–			1,831,357
Residential mortgage-backed securities		–		34,691		–		–			34,691
Loans		–		672,838		22,462		–			695,300
Derivatives		43,829		2,480,463		8,398		(2,352,611	)		180,079
Physical commodities		–		36,483		–		–			36,483
Total trading liabilities	$	4,532,816	$	5,081,999	$	30,898	$	(2,352,611	)	$	7,293,102
Other secured financings	$	–	$	31,000	$	8,711	$	–		$	39,711
Obligation to return securities received as collateral	$	11,063	$	–	$	–	$	–		$	11,063
(1)	There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2014. During the year ended December 31, 2013, listed equity options with a fair value of $403.0 million within Trading assets and $423.0 million within Trading liabilities were transferred from Level 1 to Level 2 as adjustments to the exchange closing price are necessary to best reflect the fair value of the population at its exit price.
(2)	Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty.
(3)	Securities comprise U.S. government securities segregated for regulatory purposes with a fair value of $564.7 million and $304.2 million at June 30, 2014 and December 31, 2013, respectively.
Investments Measured At Fair Value Based On Net Asset Value	'
					30-Jun-14
						Redemption
					Unfunded	Frequency
			Fair Value (7)		Commitments	(if currently eligible)
	Equity Long/Short Hedge Funds (1)	$	121,997	$	–	Monthly/Quarterly
	High Yield Hedge Funds (2)		232		–	–
	Fund of Funds (3)		388		94	–
	Equity Funds (4)		69,047		27,409	–
	Convertible Bond Funds (5)		3,647		–	At Will
	Multi-strategy Fund (6)		92,137		–	–
	Total (8)	$	287,448	$	27,503
					31-Dec-13
						Redemption
					Unfunded	Frequency
			Fair Value (7)		Commitments	(if currently eligible)
	Equity Long/Short Hedge Funds (1)	$	20,927	$	–	Monthly/Quarterly
	High Yield Hedge Funds (2)		244		–	–
	Fund of Funds (3)		494		94	–
	Equity Funds (4)		66,495		40,816	–
	Convertible Bond Funds (5)		3,473		–	At Will
	Total (8)	$	91,633	$	40,910
	(1)	This category includes investments in hedge funds that invest, long and short, in equity securities in domestic and international markets in both the public and private sectors. At June 30, 2014 and December 31, 2013, investments representing approximately 99% and 98%, respectively, of the fair value of investments in this category are redeemable with 30 to 65 days prior written notice, and includes an investment in a private asset management fund managed by us with a fair value of $99.3 million at June 30, 2014. The remaining investments in this category cannot be redeemed as they are in liquidation and distributions will be received through the liquidation of the underlying assets of the funds. We are unable to estimate when the underlying assets will be liquidated.
	(2)	Includes investments in funds that invest in domestic and international public high yield debt, private high yield investments, senior bank loans, public leveraged equities, distressed debt, and private equity investments. There are no redemption provisions. The underlying assets of the funds are being liquidated and we are unable to estimate when the underlying assets will be fully liquidated.
	(3)	Includes investments in fund of funds that invest in various private equity funds. At June 30, 2014 and December 31, 2013, approximately 96% and 98%, respectively, of the fair value of investments in this category is managed by us and has no redemption provisions, instead distributions are received through the liquidation of the underlying assets of the fund of funds, which are estimated to be liquidated in one to two years. For the remaining investments, we have requested redemption; however, we are unable to estimate when these funds will be received.
	(4)	At June 30, 2014 and December 31, 2013, investments representing approximately 99% and 99%, respectively, of the fair value of investments in this category include investments in equity funds that invest in the equity of various U.S. and foreign private companies in the energy, technology, internet service and telecommunication service industries. These investments cannot be redeemed, instead distributions are received through the liquidation of the underlying assets of the funds which are expected to liquidate in one to eight years. The remaining investments are in liquidation and we are unable to estimate when the underlying assets will be fully liquidated. At June 30, 2014 and December 31, 2013, this category includes investments in equity funds managed by us with a fair value of $56.6 million and $54.4 million, respectively, and unfunded commitments of $25.8 million and $39.2 million, respectively.
	(5)	Investment in the Jefferies Umbrella Fund, an open-ended investment company managed by us that invests primarily in convertible bonds. The investment is redeemable with 5 days prior written notice.
	(6)	Investment in private asset management fund managed by us that employs a variety of investment strategies and can invest in U.S. and non-U.S. equity and equity related securities, futures, exchange traded funds, fixed income securities, preferred securities, options, forward contracts and swaps. Withdrawals from the fund prior to the first year anniversary of the investment are subject to a 5% withdrawal fee and withdrawals during any calendar quarter are limited to 25% of the fund's net asset value. Both of these restrictions can be waived by us, in our sole discretion.
	(7)	Fair value has been estimated using the net asset value derived from each of the funds' capital statements.
	(8)	Investments at fair value in the Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013, include $87.2 million and $66.9 million, respectively, of direct investments which do not have the characteristics of investment companies and therefore not included within this table. We have unfunded commitments to such investments of $0 million and $3.3 million in aggregate at June 30, 2014 and December 31, 2013, respectively.
Summary Of Trading Assets And Trading Liabilities	'
		30-Jun-14				31-Dec-13
		Trading Assets		Trading Liabilities		Trading Assets		Trading Liabilities
	Exchange closing prices	12	%	20	%	12	%	25	%
	Recently observed transaction prices	4	%	5	%	5	%	4	%
	External pricing services	72	%	70	%	68	%	66	%
	Broker quotes	3	%	2	%	3	%	3	%
	Valuation techniques	9	%	3	%	12	%	2	%
		100	%	100	%	100	%	100	%
Summary Of Changes In Fair Value Of Financial Assets And Liabilities Classified As Level 3	'
	Three Months Ended June 30, 2014
																								Changes in
																								unrealized
																								gains (losses)
																								relating to
					Total gains																			instruments
			Balance,		(losses)														Net transfers			Balance,		still held at
			March 31,		(realized and														into (out of)			June 30,		June 30,
			2014		unrealized) (1)			Purchases			Sales			Settlements			Issuances		Level 3			2014		2014 (1)
	Assets:
	Trading assets:
	Corporate equity securities	$	12,341	$	(178	)	$	90		$	(84	)	$	–		$	–	$	4,233		$	16,402	$	(178	)
	Corporate debt securities		29,315		5,659			1,937			(5,831	)		–			–		568			31,648		7,999
	Collateralized debt obligations		66,028		4,706			19,146			(49,636	)		(331	)		–		2,400			42,313		238
	Residential mortgage-backed																–
	securities		116,992		(791	)		10,955			(24,618	)		(459	)		–		(30,117	)		71,962		(422	)
	Commercial mortgage-backed
	securities		17,486		(903	)		18,026			(21,038	)		(1,189	)		–		11,864			24,246		(1,933	)
	Other asset-backed securities		2,375		(314	)		15,686			–			(438	)		–		28,135			45,444		(314	)
	Loans and other receivables		128,832		11,933			42,278			(48,064	)		(21,482	)		–		25,146			138,643		11,922
	Investments at fair value		138,843		4,678			7,660			(4,101	)		–			–		(6,628	)		140,452		2,030
	Investments in managed funds		59,528		(8,151	)		11,305			–			–			–		(6,563	)		56,119		(8,151	)
	Liabilities:
	Trading liabilities:
	Corporate equity securities	$	1,015	$	(977	)	$	–		$	–		$	–		$	–	$	–		$	38	$	558
	Corporate debt securities		–		(84	)		(4,082	)		3,012			–			–		3,934			2,780		84
	Net derivatives (2)		5,773		9,485			(2,150	)		2,149			25			–		–			15,282		(9,485	)
	Loans		10,260		62			(9,629	)		18,995			139			–		11,707			31,534		(57	)
	Other secured financings		30,394		–			(992	)		–			(9,114	)		–		–			20,288		–
	(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
	(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
	Six Months Ended June 30, 2014
																								Changes in
																								unrealized
																								gains (losses)
																								relating to
					Total gains																			instruments
			Balance,		(losses)														Net transfers			Balance,		still held at
			December 31,		(realized and														into (out of)			June 30,		June 30,
			2013		unrealized) (1)			Purchases			Sales			Settlements			Issuances		Level 3			2014		2014 (1)
	Assets:
	Trading assets:
	Corporate equity securities	$	9,884	$	(1,583	)	$	608		$	(370	)	$	–		$	–	$	7,863		$	16,402	$	(494	)
	Corporate debt securities		25,666		5,116			3,835			(3,224	)		–			–		255			31,648		7,420
	Collateralized debt obligations		37,216		14,169			36,200			(55,963	)		–			–		10,691			42,313		5,656
	Residential mortgage-backed																–
	securities		105,492		(4,114	)		21,893			(37,356	)		(529	)		–		(13,424	)		71,962		(1,324	)
	Commercial mortgage-backed
	securities		17,568		(2,191	)		32,449			(29,864	)		(1,710	)		–		7,994			24,246		(3,236	)
	Other asset-backed securities		12,611		(537	)		17,361			(5,496	)		(438	)		–		21,943			45,444		(569	)
	Loans and other receivables		145,890		3,946			92,579			(88,674	)		(26,685	)		–		11,587			138,643		3,382
	Investments at fair value		101,242		30,176			30,160			(13,722	)		–			–		(7,404	)		140,452		27,529
	Investments in managed funds		57,285		(11,284	)		13,407			–			–			–		(3,289	)		56,119		(11,284	)
	Liabilities:
	Trading liabilities:
	Corporate equity securities	$	38	$	–		$	–		$	–		$	–		$	–	$	–		$	38	$	–
	Corporate debt securities		–		(203	)		(28,319	)		31,431			–			–		(129	)		2,780		203
	Net derivatives (2)		6,905		11,591			(179	)		(21	)		318			–		(3,332	)		15,282		(11,591	)
	Loans		22,462		754			(22,491	)		27,908			139			–		2,762			31,534		(57	)
	Other secured financings		8,711		–			–			–			(9,114	)		20,691		–			20,288		–
	(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
	(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
					Three and Six Months Ended June 30, 2013 (3)
																					Changes in
																					unrealized gains
																					(losses) relating
				Total gains																	to instruments
				(losses)												Net transfers			Balance,		still held at
		Beginning		(realized and												into (out of)			June 30,		June 30,
		Balance		unrealized) (1)			Purchases			Sales			Settlements			Level 3			2014		2013 (1)
Assets:
Trading assets:
Corporate equity securities	$	13,234	$	2,906		$	5,023		$	(2,984	)	$	–		$	1,398		$	19,577	$	2,058
Corporate debt securities		31,820		(2,867	)		918			(11,989	)		–			733			18,615		(2,242	)
Collateralized debt obligations		29,776		6,698			17,864			(6,270	)		–			(2,944	)		45,124		6,148
Residential mortgage-backed
securities		169,426		(86	)		57,750			(71,534	)		(5,436	)		(6,354	)		143,766		(367	)
Commercial mortgage-backed
securities		17,794		(2,905	)		1,403			(2,744	)		(1,578	)		4,098			16,068		(3,835	)
Other asset-backed securities		1,252		(4	)		–			–			–			196			1,444		(4	)
Loans and other receivables		170,986		(5,049	)		160,409			(24,741	)		(188,268	)		4,159			117,496		(6,925	)
Investments at fair value		70,067		(1,197	)		5,000			–			(2,493	)		4,987			76,364		(1,349	)
Investments in managed funds		59,976		(927	)		2,532			–			(6,562	)		122			55,141		(926	)
Liabilities:
Trading liabilities:
Corporate equity securities	$	38	$	–		$	–		$	–		$	–		$	–		$	38	$	–
Residential mortgage-backed
securities		1,542		–			(1,542	)		–			–			–			–		–
Net derivatives (2)		11,185		(386	)		–			–			–			–			10,799		386
Loans		7,398		–			(7,398	)		15,212			–			–			15,212		–
Other secured financings		–		–			–			–			–			2,294			2,294		–
(1)	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
(2)	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
(3)	There were no issuances.
Quantitative Information About Significant Unobservable Inputs Used In Level 3 Fair Value Measurements	'
	30-Jun-14
		Fair Value		Valuation	Significant					Weighted
	Financial Instruments Owned	(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
	Corporate equity securities	$	16,402
	Non-exchange traded securities			Market approach	EBITDA (a) multiple		3.3to 3.50			3.5
	Corporate debt securities	$	29,739
				Scenario analysis	Estimated recovery percentage		25% to 50%			42	%
	Collateralized debt obligations	$	40,213
				Discounted cash flows	Constant prepayment rate		10% to 20%			13	%
					Constant default rate		0% to 3%			2	%
					Loss severity		30% to 85%			57	%
					Yield		5% to 43%			20	%
	Residential mortgage-backed securities	$	71,962
				Discounted cash flows	Constant prepayment rate		1% to 50%			13	%
					Constant default rate		1% to 100%			20	%
					Loss severity		0% to 90%			50	%
					Yield		3% to 14%			9	%
	Commercial mortgage-backed securities	$	24,246
				Discounted cash flows	Yield		9% to 18%			12	%
					Cumulative loss rate		0% to 9%			4	%
	Other asset-backed securities	$	45,444
				Comparable pricing	Comparable bond price	$	100			–
				Discounted cash flows	Constant prepayment rate		0	%		–
					Constant default rate		0	%		–
					Loss severity		0	%		–
					Yield		4	%		–
	Loans and other receivables	$	130,068
				Comparable pricing	Comparable bond or loan price	$	93.50to $100.375		$	98
				Market approach	Yield		3% to 4%			4	%
					EBITDA (a) multiple		3to 8			6
				Scenario analysis	Estimated recovery percentage		10% to 100%			88	%
	Derivatives	$	913
	Forward contract			Comparable pricing	Comparable loan price	$	100.38			–
	Investments at fair value	$	48,844
	Private equity securities			Comparable pricing	Comparable share price	$	27			–
				Market approach	Discount rate		15% to 30%			23	%
		Fair Value		Valuation	Significant					Weighted
	Trading Liabilities	(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
	Corporate debt securities	$	2,780
				Comparable pricing	Comparable bond price	$	30			–
	Derivatives	$	15,033
	Unfunded commitments			Comparable pricing	Comparable loan price	$	92.25to $102.20		$	94
	Loans	$	31,534
				Comparable pricing	Comparable loan price	$	100.38			–
	31-Dec-13
			Fair Value		Valuation	Significant					Weighted
	Financial Instruments Owned		(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
	Corporate equity securities		$	8,034
	Non-exchange traded securities				Market approach	EBITDA (a) multiple		4.0to 5.5			4.53
	Warrants				Option model	Volatility		36	%		–
	Corporate debt securities		$	17,699
					Scenario analysis	Estimated recovery percentage		24	%		–
					Comparable pricing	Comparable bond or loan price	$	69.10to $70.50		$	69.91
					Market approach	Yield		13	%		–
	Collateralized debt obligations		$	34,316
					Discounted cash flows	Constant prepayment rate		0% to 20%			13	%
						Constant default rate		2% to 3%			2	%
						Loss severity		30% to 85%			38	%
						Yield		3% to 91%			28	%
	Residential mortgage-backed securities		$	105,492
					Discounted cash flows	Constant prepayment rate		2% to 50%			11	%
						Constant default rate		1% to 100%			17	%
						Loss severity		30% to 90%			48	%
					Yield		0% to 20%			7	%
Commercial mortgage-backed securities		$	17,568
				Discounted cash flows	Yield		12% to 20%			14	%
					Cumulative loss rate		5% to 28.2%			11	%
Other asset-backed securities		$	12,611
				Discounted cash flows	Constant prepayment rate		4% to 30%			17	%
					Constant default rate		2% to 11%			7	%
					Loss severity		40% to 92%			64	%
					Yield		3% to 29%			18	%
Loans and other receivables		$	101,931
				Comparable pricing	Comparable bond or loan price	$	91to $101		$	98.9
				Market approach	Yield		8.75% to 13.5%			10	%
					EBITDA (a) multiple		6.9			–
				Scenario analysis	Estimated recovery percentage		16.9% to 92%			74	%
Derivatives		$	1,493
Loan commitments				Comparable pricing	Comparable bond or loan price	$	100.875			–
Investments at fair value		$	30,203
Private equity securities				Comparable pricing	Comparable share price	$	414			–
				Market approach	Discount rate		15% to 30%			23	%
		Fair Value		Valuation	Significant					Weighted
Trading Liabilities		(in thousands)		Technique	Unobservable Input(s)		Input/Range			Average
Derivatives		$	8,398
Equity options				Option model	Volatility		36.25% to 41%			39	%
Loans		$	8,106	Comparable pricing	Comparable bond or loan price	$	101.88			–
(a) Earnings before interest, taxes, depreciation and amortization ("EBITDA").
Summary Of Gains (Losses) Due To Changes In Instrument Specific Credit Risk For Loans and Other Receivables And Loan Commitments Measured At Fair Value Under Fair Value Option	'
			For the Three			For the Six			For the Three
			Month			Month			and Six Month
			Period Ended			Period Ended			Periods Ended
			30-Jun-14			30-Jun-14			30-Jun-13
	Financial Instruments Owned:
	Loans and other receivables	$	2,038		$	1,430		$	13,474
	Financial Instruments Sold:
	Loans	$	(1,555	)	$	(2,591	)	$	–
	Loan commitments	$	(9,024	)	$	(11,090	)	$	(5,421	)
Summary Of Amount By Which Contractual Principal Exceeds Fair Value For Loans And Other Receivables Measured At Fair Value Under Fair Value Option	'
			June 30,		December 31,
			2014		2013
	Loans and other receivables (2)	$	276,420	$	264,896
	Loans greater than 90 days past due (1) (2)	$	–	$	–
	(1)	The aggregate fair value of loans that were 90 or more days past due was $0.0 million and $0.0 million at June 30, 2014 and December 31, 2013, respectively.
	(2)	Interest income is recognized separately from other changes in fair value and is included within Interest income in the Consolidated Statements of Operations.

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative Financial Instruments [Abstract]	'
Fair Value And Related Number Of Derivative Contracts Categorized By Predominant Risk Exposure	'
		30-Jun-14
			Assets				Liabilities
					Number of				Number of
			Fair Value		Contracts		Fair Value		Contracts
	Interest rate contracts	$	1,672,195		48,853	$	1,678,742		67,733
	Foreign exchange contracts		474,633		64,945		488,763		62,943
	Equity contracts		553,622		1,820,612		555,213		1,751,789
	Commodity contracts		196,560		848,890		221,075		841,714
	Credit contracts: centrally cleared swaps		3,386		4		6,550		9
	Credit contracts: other credit derivatives		1,295		15		23,022		31
	Total		2,901,691				2,973,365
	Counterparty/cash-collateral netting		(2,648,507	)			(2,747,077	)
	Total per Consolidated Statement of Financial Condition	$	253,184			$	226,288
		31-Dec-13
			Assets				Liabilities
					Number of				Number of
			Fair Value		Contracts		Fair Value		Contracts
	Interest rate contracts	$	1,165,977		63,967	$	1,131,166		77,338
	Foreign exchange contracts		653,772		118,707		693,658		112,417
	Equity contracts		501,784		1,742,343		474,985		1,800,603
	Commodity contracts		141,280		797,529		173,119		788,717
	Credit contracts: centrally cleared swaps		49,531		49		51,632		46
	Credit contracts: other credit derivatives		2,339		16		8,130		19
	Total		2,514,683				2,532,690
	Counterparty/cash-collateral netting		(2,253,589	)			(2,352,611	)
	Total per Consolidated Statement of Financial Condition	$	261,094			$	180,079
Unrealized And Realized Gains (Losses) On Derivative Contracts	'
			For the Three			For the Six			For the Three
			Month			Month			and Six Month
			Period Ended			Period Ended			Periods Ended
			30-Jun-14			30-Jun-14			30-Jun-13
	Interest rate contracts	$	(49,738	)	$	(49,946	)	$	29,381
	Foreign exchange contracts		(4,281	)		1,156			4,135
	Equity contracts		(73,529	)		(164,630	)		33,892
	Commodity contracts		21,794			37,980			21,513
	Credit contracts		(11,441	)		(15,330	)		(11,010	)
	Total	$	(117,195	)	$	(190,770	)	$	77,911
Remaining Contract Maturity Of Fair Value Of OTC Derivative Assets And Liabilities	'
		OTC Derivative Assets (1) (2) (4)
									Cross-
							Greater Than		Maturity
			0-12 Months		1-5 Years		5 Years		Netting (3)			Total
	Commodity swaps, options and forwards	$	52,226	$	1,435	$	–	$	–		$	53,661
	Equity swaps and options		1,297		–		–		–			1,297
	Total return swaps		6,559		–		–		–			6,559
	Foreign currency forwards, swaps and options		85,715		15,283		51		(14,167	)		86,882
	Interest rate swaps, options and forwards		80,802		114,082		129,218		(70,493	)		253,609
	Total	$	226,599	$	130,800	$	129,269	$	(84,660	)		402,008
	Cross product counterparty netting											(17,810	)
	Total OTC derivative assets included in
	Trading assets										$	384,198
	(1)	At June 30, 2014, we held exchange traded derivative assets and other credit agreements with a fair value of $11.6 million, which are not included in this table.
	(2)	OTC derivative assets in the table above are gross of collateral received. OTC derivative assets are recorded net of collateral received in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral received was $143.0 million.
	(3)	Amounts represent the netting of receivable balances with payable balances for the same counterparty within product category across maturity categories.
	(4)	Derivative fair values include counterparty netting within product category.
		OTC Derivative Liabilities (1) (2) (4)
									Cross-
							Greater Than		Maturity
			0-12 Months		1-5 Years		5 Years		Netting (3)			Total
	Commodity swaps, options and forwards	$	78,158	$	9,117	$	–	$	–		$	87,275
	Credit default swaps		51		8,744		898		–			9,693
	Equity swaps and options		–		–		9,300		–			9,300
	Total return swaps		2,200		–		–		–			2,200
	Foreign currency forwards, swaps and options		88,516		16,380		–		(14,167	)		90,729
	Interest rate swaps, options and forwards		56,392		111,734		166,652		(70,493	)		264,285
	Total	$	225,317	$	145,975	$	176,850	$	(84,660	)		463,482
	Cross product counterparty netting											(17,810	)
	Total OTC derivative liabilities included in
	Trading liabilities										$	445,672
	(1)	At June 30, 2014, we held exchange traded derivative liabilities and other credit agreements with a fair value of $22.2 million, which are not included in this table.
	(2)	OTC derivative liabilities in the table above are gross of collateral pledged. OTC derivative liabilities are recorded net of collateral pledged in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral pledged was $241.6 million.
	(3)	Amounts represent the netting of receivable balances with payable balances for the same counterparty within product category across maturity categories.
	(4)	Derivative fair values include counterparty netting within product category.
Counterparty Credit Quality With Respect To Fair Value Of OTC Derivatives Assets	'
	Counterparty credit quality (1):
	A- or higher	$	179,090
	BBB- to BBB+		52,347
	BB+ or lower		82,789
	Unrated		69,972
	Total	$	384,198
	(1) We utilize internal credit ratings determined by Jefferies Risk Management. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies.

Securitization_Activities_Tabl

Securitization Activities (Tables)	6 Months Ended
	Jun. 30, 2014
Securitization Activities [Abstract]	'
Activity Related To Securitizations Accounted For As Sales	'
			For the Three		For the Six		For the Three
			Month		Month		and Six Month
			Period Ended		Period Ended		Periods Ended
			30-Jun-14		30-Jun-14		30-Jun-13
	Transferred assets	$	1,599.70	$	3,226.60	$	2,184.00
	Proceeds on new securitizations		1,600.10		3,228.20		2,190.90
	Net revenues		0.9		1.6		4.8
	Cash flows received on retained interests		20.4		28.9		11.1
Summary Of Retained Interests In SPEs	'
			30-Jun-14				31-Dec-13
			Total		Retained		Total		Retained
	Securitization Type		Assets		Interests		Assets		Interests
	U.S. government agency residential mortgage-backed securities	$	11,466.70	$	254.3	$	11,518.40	$	281.3
	U.S. government agency commercial mortgage-backed securities		3,655.20		100.2		5,385.60		96.8
	Collateralized loan obligations		728.5		8.6		728.5		9

Available_For_Sale_Securities_

Available For Sale Securities (Tables)	6 Months Ended
	Jun. 30, 2014
Available For Sale Securities [Abstract]	'
Amortized Cost, Gross Unrealized Gains And Losses And Estimated Fair Value Of Available For Sale Investments	'
					Gross		Gross		Estimated
			Amortized		Unrealized		Unrealized		Fair
			Cost		Gains		Losses		Value
	30-Jun-14
	Bonds and notes:
	U.S. government securities	$	945,739	$	136	$	3	$	945,872
	Residential mortgage-backed securities		574,369		11,095		843		584,621
	Commercial mortgage-backed securities		48,260		896		29		49,127
	Other asset-backed securities		222,678		926		395		223,209
	All other corporates		38,041		335		8		38,368
	Total fixed maturities		1,829,087		13,388		1,278		1,841,197
	Equity securities:
	Common stocks:
	Banks, trusts and insurance companies		22,842		29,222		–		52,064
	Industrial, miscellaneous and all other		22,264		28,955		–		51,219
	Total equity securities		45,106		58,177		–		103,283
		$	1,874,193	$	71,565	$	1,278	$	1,944,480
	31-Dec-13
	Bonds and notes:
	U.S. government securities	$	1,781,052	$	226	$	12	$	1,781,266
	Residential mortgage-backed securities		570,642		9,946		1,426		579,162
	Commercial mortgage-backed securities		18,271		13		299		17,985
	Other asset-backed securities		183,593		627		184		184,036
	All other corporates		50,933		267		37		51,163
	Total fixed maturities		2,604,491		11,079		1,958		2,613,612
	Equity securities:
	Common stocks:
	First Quantum Minerals Ltd.		154,281		–		5,616		148,665
	Banks, trusts and insurance companies		22,980		27,562		–		50,542
	Industrial, miscellaneous and all other		21,012		32,312		–		53,324
	Total equity securities		198,273		59,874		5,616		252,531
		$	2,802,764	$	70,953	$	7,574	$	2,866,143
Amortized Cost And Estimated Fair Value Of Investments Classified As Available For Sale By Contractual Maturity	'
			Amortized		Estimated
			Cost		Fair Value
			(In thousands)
	Due within one year	$	962,776	$	962,973
	Due after one year through five years		21,004		21,267
	Due after five years through ten years		–		–
	Due after ten years		–		–
			983,780		984,240
	Mortgage-backed and asset-backed securities		845,307		856,957
		$	1,829,087	$	1,841,197

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities [Abstract]	'
Assets And Liabilities Of Consolidated VIEs	'
		Securitization Vehicles
		June 30,		December 31,
		2014		2013
		(In millions)
	Cash	$	–	$	–
	Financial instruments owned		–		97.5
	Securities purchased under agreement to resell (1)		220		195.1
	Other		–		2.3
	Total assets	$	220	$	294.9
	Other secured financings (2)	$	220	$	292.5
	Other		–		2.1
	Total liabilities	$	220	$	294.6
	(1)	Securities purchased under agreement to resell represent an amount due under a collateralized transaction on a related consolidated entity, which is eliminated in consolidation.
	(2)	Approximately $66.5 million of the secured financing represents an amount held by Jefferies in inventory and eliminated in consolidation at December 31, 2013.
Non-Consolidated Variable Interest Entities	'
		30-Jun-14
			Variable Interests
			Financial Statement			Maximum
			Carrying Amount			Exposure to Loss				VIE Assets
			Assets	Liabilities
		(In millions)
	Collateralized loan obligations (1)	$	174.1	$	0.3	$	678.2		$	3,564.60
	Agency mortgage- and asset-backed securitizations (2) (3)		859.4		–		859.4	-5		13,570.60
	Non-agency mortgage- and asset-backed securitizations (2) (3)		956.3		–		956.3	-5		217,889.80
	Asset management vehicle (4)		3.6		–		3.6	-5		394.6
	Private equity vehicles (4)		45.2		–		61.4			94.8
	Total	$	2,038.60	$	0.3	$	2,558.90		$	235,514.40
		31-Dec-13
			Variable Interests
			Financial Statement			Maximum
			Carrying Amount			Exposure to Loss				VIE Assets
			Assets	Liabilities
		(In millions)
	Collateralized loan obligations (1)	$	11.9	$	0.2	$	88.8		$	1,122.30
	Agency mortgage- and asset-backed securitizations (2) (3)		1,226.00		–		1,226.00	-5		5,857.30
	Non-agency mortgage- and asset-backed securitizations (2) (3)		840.1		–		840.1	-5		78,070.80
	Asset management vehicle (4)		3.5		–		3.5	-5		454.2
	Private equity vehicles (4)		40.8		–		68.8			89.4
	Total	$	2,122.30	$	0.2	$	2,227.20		$	85,594.00
	(1)	Assets consist of debt securities and participation interests in corporate loans accounted for at fair value, which are included within Trading assets. Liabilities consist of forward sale agreements and a guarantee provided to a CLO managed by Jefferies Finance, which are accounted for at fair value and included within Trading liabilities.
	(2)	VIE assets represent the unpaid principal balance of the assets in these vehicles at June 30, 2014 and December 31, 2013 and represent the underlying assets that provide the cash flows supporting our variable interests.
	(3)	Assets consist of debt securities accounted for at fair value, which are included within Trading assets.
	(4)	Assets consist of equity interests, which are included within Investments in managed funds.
	(5)	Our maximum exposure to loss in these non-consolidated VIEs is limited to our investment, which is represented by the financial statement carrying amount of our purchased or retained interests.

Loans_To_And_Investments_In_As1

Loans To And Investments In Associated Companies (Tables)	6 Months Ended
	Jun. 30, 2014
Loans To And Investments In Associated Companies [Abstract]	'
Schedule Of Investments In Associated Companies	'
			June 30,		December 31,
			2014		2013
	Jefferies Finance, LLC	$	343,464	$	470,537
	Jefferies LoanCore LLC		158,071		224,037
	Berkadia		203,133		182,573
	Garcadia companies		126,378		120,017
	HomeFed		254,035		52,923
	Linkem S.p.A.		162,131		173,577
	Other		48,654		34,677
	Total	$	1,295,866	$	1,258,341
Schedule Of Income (Losses) Related To Associated Companies	'
			For the Three Month						For the Six Month
			Period Ended June 30,						Period Ended June 30,
			2014			2013			2014			2013
	Berkadia	$	24,388		$	30,844		$	38,361		$	49,431
	Garcadia companies		14,043			11,244			25,302			20,115
	Linkem		(4,723	)		(6,920	)		(10,559	)		(13,522	)
	HomeFed		795			(355	)		177			(596	)
	Jefferies High Yield Holdings, LLC ("JHYH")		-			-			-			7,178
	Other		842			50			2,100			3,065
	Total	$	35,345		$	34,863		$	55,381		$	65,671
Schedule Of Income (Losses) Related To Associated Companies Classified As Other Revenue	'
			For the Three			For the Six			For the Three
			Month			Month			and Six Month
			Period Ended			Period Ended			Periods Ended
			30-Jun-14			30-Jun-14			30-Jun-13
	Jefferies Finance	$	14,673		$	32,274		$	11,969
	Jefferies LoanCore		3,400			5,882			16,723
	Other		(808	)		(264	)		(152	)
	Total	$	17,265		$	37,892		$	28,540

Financial_Statement_Offsetting1

Financial Statement Offsetting (Tables)	6 Months Ended
	Jun. 30, 2014
Financial Statement Offsetting [Abstract]	'
Summary Of Offsetting Assets And Liabilities	'
					Netting in			Net Amounts in
					Consolidated			Consolidated		Additional
					Statement of			Statement of		Amounts
			Gross		Financial			Financial		Available for			Available			Net Amount
	(In thousands)		Amounts		Condition			Condition		Setoff (1)			Collateral (2)			-3
	Assets at June 30, 2014
	Derivative contracts	$	2,901,691	$	(2,648,507	)	$	253,184	$	–		$	–		$	253,184
	Securities borrowing arrangements	$	6,097,098	$	–		$	6,097,098	$	(807,137	)	$	(877,639	)	$	4,412,322
	Reverse repurchase agreements	$	11,402,865	$	(6,793,443	)	$	4,609,422	$	(230,295	)	$	(4,355,647	)	$	23,480
	Liabilities at June 30, 2014
	Derivative contracts	$	2,973,365	$	(2,747,077	)	$	226,288	$	–		$	–		$	226,288
	Securities lending arrangements	$	2,901,159	$	–		$	2,901,159	$	(807,137	)	$	(2,063,606	)	$	30,416
	Repurchase agreements	$	18,461,573	$	(6,793,443	)	$	11,668,130	$	(230,295	)	$	(10,996,643	)	$	441,192
	Assets at December 31, 2013
	Derivative contracts	$	2,514,683	$	(2,253,589	)	$	261,094	$	–		$	–		$	261,094
	Securities borrowing arrangements	$	5,359,846	$	–		$	5,359,846	$	(530,293	)	$	(957,140	)	$	3,872,413
	Reverse repurchase agreements	$	12,715,449	$	(8,968,529	)	$	3,746,920	$	(590,754	)	$	(3,074,540	)	$	81,626
	Liabilities at December 31, 2013
	Derivative contracts	$	2,532,690	$	(2,352,611	)	$	180,079	$	–		$	–		$	180,079
	Securities lending arrangements	$	2,506,122	$	–		$	2,506,122	$	(530,293	)	$	(1,942,271	)	$	33,558
	Repurchase agreements	$	19,748,374	$	(8,968,529	)	$	10,779,845	$	(590,754	)	$	(8,748,641	)	$	1,440,450
	(1)	Under master netting agreements with our counterparties, we have the legal right of offset with a counterparty, which incorporates all of the counterparty's outstanding rights and obligations under the arrangement. These balances reflect additional credit risk mitigation that is available by counterparty in the event of a counterparty's default, but which are not netted in the balance sheet because other netting provisions of U.S. GAAP are not met. Further, for derivative assets and liabilities, amounts netted include cash collateral paid or received.
	(2)	Includes securities received or paid under collateral arrangements with counterparties that could be liquidated in the event of a counterparty default and thus offset against a counterparty's rights and obligations under the respective repurchase agreements or securities borrowing or lending arrangements.
	(3)	At June 30, 2014, amounts include $4,358.7 million of securities borrowing arrangements, for which we have received securities collateral of $4,242.4 million, and $431.0 million of repurchase agreements, for which we have pledged securities collateral of $448.4 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable. At December 31, 2013, amounts include $3,818.4 million of securities borrowing arrangements, for which we have received securities collateral of $3,721.8 million, and $1,410.0 million of repurchase agreements, for which we have pledged securities collateral of $1,438.9 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable.

Intangible_Assets_Net_And_Good1

Intangible Assets, Net And Goodwill (Tables)	6 Months Ended
	Jun. 30, 2014
Intangible Assets, Net And Goodwill [Abstract]	'
Schedule Of Intangible Assets, Net	'
			June 30,		December 31,
			2014		2013
	Indefinite lived intangibles:
	Exchange and clearing organization membership interests and registrations	$	14,979	$	14,916
	Amortizable intangibles:
	Customer and other relationships, net of accumulated amortization of
	$136,746 and $117,139		494,339		502,409
	Trademarks and tradename, net of accumulated amortization of $38,750
	and $30,213		356,739		364,779
	Supply contracts, net of accumulated amortization of $25,301 and $20,162		124,694		129,833
	Licenses, net of accumulated amortization of $4,288 and $4,100		7,634		7,928
	Other, net of accumulated amortization of $4,548 and $4,500		855		664
	Total intangibles	$	999,240	$	1,020,529
Summary Of Goodwill	'
			June 30,		December 31,
			2014		2013
	National Beef	$	14,991	$	14,991
	Jefferies		1,727,328		1,724,557
	Other operations		8,551		8,551
		$	1,750,870	$	1,748,099

Inventory_Tables

Inventory (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory [Abstract]	'
Summary Of Inventory	'
			June 30,		December 31,
			2014		2013
	Finished goods	$	314,490	$	273,291
	Work in process		37,079		34,701
	Raw materials, supplies and other		34,856		56,334
		$	386,425	$	364,326

LongTerm_Debt_Tables

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Long-Term Debt [Abstract]	'
Schedule Of Indebtedness	'
			June 30,		December 31,
			2014		2013
	Parent Company Debt:
	Senior Notes:
	8.125% Senior Notes due September 15, 2015, $458,641 principal	$	457,106	$	456,515
	5.50% Senior Notes due October 18, 2023, $750,000 principal		740,349		739,960
	6.625% Senior Notes due October 23, 2043, $250,000 principal		246,975		246,958
	Subordinated Notes:
	3.75% Convertible Senior Subordinated Notes due April 15, 2014,
	$0 and $97,581 principal		–		97,581
	Total long-term debt – parent company		1,444,430		1,541,014
	Subsidiary Debt (non-recourse to Parent Company):
	Jefferies:
	5.875% Senior Notes, due June 8, 2014, $250,000 principal		250,243		255,676
	3.875% Senior Notes, due November 9, 2015, $500,000 principal		512,096		516,204
	5.5% Senior Notes, due March 15, 2016, $350,000 principal		368,235		373,178
	5.125% Senior Notes, due April 13, 2018, $800,000 principal		848,235		854,011
	8.5% Senior Notes, due July 15, 2019, $700,000 principal		845,739		858,425
	2.375% Euro Senior Notes, due May 20, 2020, $681,675 principal		679,951		–
	6.875% Senior Notes, due April 15, 2021, $750,000 principal		860,021		866,801
	2.25% Euro Medium Term Notes, due July 13, 2022, $5,283 principal		4,762		4,792
	5.125% Senior Notes, due January 20, 2023, $600,000 principal		624,482		625,626
	6.45% Senior Debentures, due June 8, 2027, $350,000 principal		382,381		383,224
	3.875% Convertible Senior Debentures, due November 1, 2029,
	$345,000 principal		349,142		349,707
	6.25% Senior Debentures, due January 15, 2036, $500,000 principal		513,197		513,343
	6.50% Senior Notes, due January 20, 2043, $400,000 principal		422,105		422,245
	Secured credit facility, due August 26, 2014		65,000		200,000
	National Beef Term Loans		362,500		375,000
	National Beef Revolving Credit Facility		106,330		–
	Other		159,207		41,619
	Total long-term debt – subsidiaries		7,353,626		6,639,851
	Long-term debt	$	8,798,056	$	8,180,865

Mezzanine_Equity_Tables

Mezzanine Equity (Tables)	6 Months Ended
	Jun. 30, 2014
Mezzanine Equity [Abstract]	'
Schedule Of Redeemable Noncontrolling Interests	'
			2014			2013
	As of January 1,	$	241,075		$	241,649
	Income (loss) allocated to redeemable noncontrolling interests		(4,649	)		1,107
	Net distributions to redeemable noncontrolling interests		–			(6,682	)
	Increase (decrease) in fair value of redeemable noncontrolling
	interests charged to additional paid-in capital		1,013			(22,434	)
	Balance, June 30,	$	237,439		$	213,640
Sensitivity Analysis Of Fair Value Of Redeemable Noncontrolling Interests Using Discount And Terminal Growth Rates	'
		Discount Rates
	Terminal Growth Rates			11.44%		11.69%		11.94%
	1.75	%	$	242.5	$	234	$	225.8
	2	%	$	246.2	$	237.4	$	229.1
	2.25	%	$	250.2	$	241.1	$	232.5

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2014
Accumulated Other Comprehensive Income [Abstract]	'
Summary Of Accumulated Other Comprehensive Income, Net Of Taxes	'
			June 30,			December 31,
			2014			2013
	Net unrealized gains on available for sale securities	$	594,926		$	589,393
	Net unrealized foreign exchange gains		33,343			16,803
	Net unrealized losses on derivative instruments		(507	)		(169	)
	Net minimum pension liability		(66,457	)		(67,977	)
		$	561,305		$	538,050
Schedule Of Accumulated Other Comprehensive Income Reclassifications	'
	Details about Accumulated Other		Amount Reclassified from					Affected Line Item in the
	Comprehensive Income		Accumulated Other					Consolidated Statement
	Components		Comprehensive Income					of Operations
			2014			2013
	Net unrealized gains (losses) on available for							Net realized securities gains
	sale securities, net of income tax provision
	(benefit) of $(1,438) and $117,170	$	(2,590	)	$	211,037
	Amortization of defined benefit pension							Compensation and benefits, which
	plan actuarial gains (losses), net of							includes pension expense. See the
	income tax provision (benefit) of $(844)							pension footnote for information on
	and $(1,332)		(1,520	)		(2,400	)	this component.
	Total reclassifications for the period,
	net of tax	$	(4,110	)	$	208,637

Pension_Plans_And_Postretireme1

Pension Plans And Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2014
Pension Plans And Postretirement Benefits [Abstract]	'
Components Of Pension Expense	'
			For the Three Month						For the Six Month
			Period Ended June 30,						Period Ended June 30,
			2014			2013			2014			2013
	Service cost	$	11		$	72		$	22		$	72
	Interest cost		3,774			3,382			7,548			5,993
	Expected return on plan assets		(2,537	)		(2,606	)		(5,073	)		(4,532	)
	Actuarial losses		1,209			1,909			2,417			3,775
	Net pension expense	$	2,457		$	2,757		$	4,914		$	5,308

Earnings_Loss_Per_Common_Share1

Earnings (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings (Loss) Per Common Share [Abstract]	'
Earnings Per Share Computation	'
			For the Three Month						For the Six Month
			Period Ended June 30,						Period Ended June 30,
			2014			2013			2014			2013
	Numerator for earnings (loss) per share:
	Net income attributable to Leucadia
	National Corporation common shareholders	$	65,074		$	52,612		$	159,390		$	357,715
	Less: Allocation of earnings to participating
	securities (1)		(1,557	)		(1,597	)		(3,927	)		(4,200	)
	Net income attributable to Leucadia National
	Corporation common shareholders for
	basic earnings (loss) per share		63,517			51,015			155,463			353,515
	Adjustment to allocation of earnings to participating
	securities related to diluted shares (1)		(12	)		(29	)		(19	)		(2	)
	Interest on 3.75% Convertible Notes		99			–			739			1,316
	Mandatorily redeemable convertible preferred share
	dividends		–			–			–			1,354
	Net income attributable to Leucadia
	National Corporation common shareholders
	for diluted earnings (loss) per share	$	63,604		$	50,986		$	156,183		$	356,183
	Denominator for earnings (loss) per share:
	Denominator for basic earnings (loss) per share
	– weighted average shares		371,979			367,752			370,506			315,375
	Stock options		48			85			68			44
	Warrants		–			–			–			–
	3.875% Convertible Senior Debentures		–			–			–			–
	3.75% Convertible Notes		1,152			–			2,627			4,503
	Mandatorily redeemable convertible preferred shares		–			–			–			2,775
	Denominator for diluted earnings (loss) per share		373,179			367,837			373,201			322,697
	(1) Represents dividends declared during the period on participating securities plus an allocation of undistributed earnings to participating securities. Net losses are not allocated to participating securities. Participating securities represent restricted stock and RSUs for which requisite service has not yet been rendered and amounted to weighted average shares of 9,164,900 and 11,375,200 for the three months ended June 30, 2014 and 2013, respectively, 9,433,100 and 7,763,100 for the six months ended June 30, 2014 and 2013, respectively. Dividends declared on participating securities were $.6 million and $.7 million during the three months ended June 30, 2014 and 2013, respectively, and $1.1 million and $1.5 million during the six months ended June 30, 2014 and 2013, respectively. Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed.

Recovered_Sheet1

Commitments, Contingencies and Guarantees (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments, Contingencies And Guarantees [Abstract]	'
Commitments and Contingencies	'
		Expected Maturity Date
							2016		2018		2020
							and		and		and		Maximum
			2014		2015		2017		2019		Later		Payout
	Equity commitments (1)	$	1.6	$	7.5	$	0.9	$	-	$	475.4	$	485.4
	Loan commitments (1)		10.8		26.3		515.1		175.9		-		728.1
	Mortgage-related commitments		862		387.9		496.5		-		-		1,746.40
	Underwriting commitments		85.9		-		-		-		-		85.9
	Forward starting reverse repos and repos		206.2		-		-		-		-		206.2
		$	1,166.50	$	421.7	$	1,012.50	$	175.9	$	475.4	$	3,252.00
	(1)	Equity and loan commitments are presented by contractual maturity date. The amounts are however available on demand.
Credit Exposure From Loan Commitments	'
									Total		Corporate		Corporate
							Greater		Corporate		Lending		Lending
			0 - 12		5-Jan		Than		Lending		Exposure at		Commitments
	Credit Ratings		Months		Years		5 Years		Exposure (1)		Fair Value (2)		-3
	Investment grade	$	-	$	69.4	$	-	$	69.4	$	-	$	69.4
	Non-investment grade		-		78.9		-		78.9		17.9		61
	Unrated		14.8		641		-		655.8		58.1		597.7
	Total	$	14.8	$	789.3	$	-	$	804.1	$	76	$	728.1
	(1)	Total corporate lending exposure represents the potential loss assuming the fair value of funded loans and lending commitments were zero.
	(2)	The corporate lending exposure at fair value includes $91.9 million of funded loans included in Trading assets and a $15.9 million net liability related to lending commitments recorded in Trading liabilities in the Consolidated Statement of Financial Condition as of June 30, 2014.
	(3)	Amounts represent the notional amount of unfunded lending commitments.
Guarantees	'
		Expected Maturity Date
							2016		2018		2020		Notional/
							and		and		and		Maximum
	Guarantee Type		2014		2015		2017		2019		Later		Payout
	Derivative contracts – non-credit related	$	37,589.90	$	1,141.80	$	43.7	$	1.2	$	534.5	$	39,311.10
	Written derivative contracts – credit
	related		-		-		-		420.8		-		420.8
	Total derivative contracts	$	37,589.90	$	1,141.80	$	43.7	$	422	$	534.5	$	39,731.90
External Credit Ratings of Underlying or Referenced Assets for Credit Related Derivatives Contracts	'
		External Credit Rating
											Below				Notional/
			AAA/		AA/						Investment				Maximum
			Aaa		Aa		A		BBB/Baa		Grade		Unrated		Payout
	Credit related derivative contracts:
	Index credit default swaps	$	344.8	$	-	$	-	$	-	$	-	$	-	$	344.8
	Single name credit default swaps		-		-		-		61		15		-		76

Net_Capital_Requirements_Table

Net Capital Requirements (Tables)	6 Months Ended
	Jun. 30, 2014
Net Capital Requirements [Abstract]	'
Net Capital, Adjusted Net Capital And Excess Net Capital	'
			Net Capital		Excess Net Capital
	Jefferies LLC	$	1,090,453	$	1,016,424
	Jefferies Execution		5,307		5,057
			Adjusted Net Capital		Excess Net Capital
	Jefferies Bache, LLC	$	196,264	$	80,938

Other_Fair_Value_Information_T

Other Fair Value Information (Tables)	6 Months Ended
	Jun. 30, 2014
Other Fair Value Information [Abstract]	'
Methods And Assumptions Used To Estimate The Fair Values	'
			30-Jun-14				31-Dec-13
			Carrying		Fair		Carrying		Fair
			Amount		Value		Amount		Value
	Other Assets:
	Notes and loans receivable (a)	$	150,390	$	153,551	$	95,042	$	95,606
	Financial Liabilities:
	Short-term borrowings (b)		12,000		12,000		12,000		12,000
	Long-term debt (b)		8,798,056		9,103,165		8,180,865		8,230,191
	(a)	Notes and loans receivable: The fair values are primarily measured using Level 2 and 3 inputs principally based on discounted future cash flows using market interest rates for similar instruments.
	(b)	Short-term borrowings and long-term debt: The fair values of short-term borrowings are estimated to be the carrying amount. The fair values of non-variable rate debt are estimated using quoted prices and estimated rates that would be available for debt with similar terms. The fair value of variable rate debt is estimated to be the carrying amount.

Discontinued_Operations_And_As1

Discontinued Operations And Assets Held For Sale (Tables)	6 Months Ended
	Jun. 30, 2014
Discontinued Operations And Assets Held For Sale [Abstract]	'
Results Of Discontinued Operations	'
			For the Three Month					For the Six Month
			Period Ended June 30,					Period Ended June 30,
			2014		2013			2014		2013
	Revenues and other income:
	Gaming entertainment	$	33,341	$	29,305		$	64,345	$	58,345
	Investment and other income		11		120			31		224
			33,352		29,425			64,376		58,569
	Expenses:
	Direct operating expenses -
	Gaming entertainment		23,922		21,149			47,351		42,706
	Compensation and benefits		1,882		4,762			3,054		10,362
	Depreciation and amortization		2,393		2,224			4,617		4,522
	Selling, general and other expenses		383		4,930			972		9,986
			28,580		33,065			55,994		67,576
	Income (loss) from discontinued
	operations before income taxes		4,772		(3,640	)		8,382		(9,007	)
	Income tax provision (benefit)		1,670		(1,217	)		2,934		(3,042	)
	Income (loss) from discontinued
	operations after income taxes	$	3,102	$	(2,423	)	$	5,448	$	(5,965	)
Schedule Of Assets Held For Sale	'
			2013
	Real estate	$	112,016
	Investment in associated company		30,793
	Other, net		17,310
		$	160,119

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Information [Abstract]	'
Schedule Of Segment Reporting Information, By Segment	'
			For the Three Month					For the Six Month
			Period Ended June 30,					Period Ended June 30,
			2014			2013			2014			2013
		(In thousands)
	Net Revenues:
	Investment Banking & Capital Markets	$	689,303		$	651,509		$	1,619,815		$	651,509
	Beef Processing Services		2,009,093			1,920,423			3,896,471			3,709,865
	Other Operations		113,803			85,382			210,387			175,068
	Corporate		39,855			18,411			68,695			436,896
	Total consolidated net revenues	$	2,852,054		$	2,675,725		$	5,795,368		$	4,973,338
	Income (loss) from continuing operations before
	income taxes and income related to associated
	companies:
	Investment Banking & Capital Markets	$	85,568		$	77,603		$	281,938		$	77,603
	Beef Processing Services		6,518			27,286			(21,495	)		6,772
	Other Operations		(6,014	)		(22,115	)		(23,515	)		(27,427	)
	Corporate		(14,794	)		(33,828	)		(45,905	)		315,113
	Total consolidated income from continuing
	operations before income taxes and income
	related to associated companies	$	71,278		$	48,946		$	191,023		$	372,061
	Depreciation and amortization expenses:
	Investment Banking & Capital Markets	$	18,383		$	18,934		$	35,414		$	18,934
	Beef Processing Services		21,195			21,855			41,955			43,588
	Other Operations		6,115			4,393			10,617			9,961
	Corporate		1,339			2,994			2,676			6,170
	Total consolidated depreciation and
	amortization expenses	$	47,032		$	48,176		$	90,662		$	78,653

Nature_Of_Operations_Details

Nature Of Operations (Details) (USD $)

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

6 Months Ended

In Thousands, except Share data, unless otherwise specified

Feb. 25, 2013

Jun. 30, 2013

Feb. 28, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jefferies [Member]

National Beef [Member]

Idaho Timber [Member]

Conwed Plastics [Member]

Berkadia [Member]

Garcadia [Member]

HomeFed Corporation [Member]

Linkem [Member]

Harbinger [Member]

Beef Processing Facility [Member]

Consumer-Ready Facility [Member]

Tanning Facility [Member]

item

item

item

segment

National Beef [Member]

National Beef [Member]

National Beef [Member]

item

item

item

Foreign facilities

'

'

'

'

'

1

'

'

'

'

'

'

'

'

Domestic facilities

'

'

'

'

10

4

'

'

'

'

'

2

3

1

Business acquisition, share conversion ratio

'

'

0.81

'

'

'

'

'

'

'

'

'

'

'

Shares of common stock owned

'

'

58,006,024

'

'

'

'

'

9,460,563

'

41,600,000

'

'

'

Percentage of outstanding common stock owned

'

'

28.00%

'

'

'

'

'

'

'

20.00%

'

'

'

Percentage interest owned in subsidiary

'

'

'

78.90%

'

'

'

'

'

'

'

'

'

'

Spin off of Crimson Wine Group, Ltd.

$197,000

$197,000

'

'

'

'

'

'

'

'

'

'

'

'

Shares of Crimson received for every 10 shares of Leucadia common shares

1

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of company acquired

'

'

'

'

'

80.00%

'

'

'

'

'

'

'

'

Joint venture ownership percentage

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

Number of automobile dealerships

'

'

'

'

'

'

'

22

'

'

'

'

'

'

Percentage of ownership owned

'

'

'

'

'

'

50.00%

'

64.00%

40.20%

'

'

'

'

Percentage of ownership upon conversion of note

'

'

'

'

'

'

'

'

'

53.00%

'

'

'

'

Number of operating segments

'

'

'

'

'

'

'

'

'

'

4

'

'

'

Acquisitions_Narrative_Details

Acquisitions (Narrative) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Feb. 28, 2013
			Jefferies [Member]	Jefferies [Member]	Jefferies [Member]
Business Acquisition [Line Items]	'	'	'	'	'
Aggregate purchase price	'	'	'	$4,770,600,000	'
Conversion of stock, common shares issued	'	'	'	119,363,000	'
Mandatorily redeemable convertible preferred shares redemption value	125,000,000	125,000,000	125,000,000	125,000,000	'
Dividend rate on preferred stock	'	'	3.25%	3.25%	'
Goodwill deductible for income tax purposes	'	'	'	111,500,000	'
Removal of deferred tax liability reversal	'	'	'	'	$34,000,000

Acquisitions_Schedule_Of_Alloc

Acquisitions (Schedule Of Allocation Of The Purchase Price To The Assets Acquired And Liabilities Assumed At Acquisition Date) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Feb. 28, 2013
In Thousands, unless otherwise specified
Acquisitions [Abstract]	'	'	'
Cash and cash equivalents	'	'	$3,017,958
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	'	'	3,728,742
Trading assets	'	'	16,413,535
Loans to and investments in associated companies	'	'	766,893
Securities borrowed	'	'	5,315,488
Securities purchased under agreements to resell	'	'	3,578,366
Intangible assets, net	'	'	282,852
Goodwill	1,750,870	1,748,099	1,722,591
Deferred tax asset, net	'	'	539,384
Other assets	'	'	4,386,419
Total assets	'	'	39,752,228
Short-term borrowings	'	'	100,000
Trading liabilities	'	'	9,766,876
Securities loaned	'	'	1,902,687
Securities sold under agreements to repurchase	'	'	7,976,492
Payables to customers of securities operations	'	'	5,450,781
Trade payables, expense accruals and other liabilities	'	'	2,724,136
Mandatorily redeemable preferred interest in JHYH held by Leucadia	'	'	358,951
Long-term debt	'	'	6,345,536
Total liabilities	'	'	34,625,459
Noncontrolling interests	'	'	356,180
Net assets acquired	'	'	$4,770,589

Acquisitions_Amounts_Allocated

Acquisitions (Amounts Allocated To Intangible Assets, The Amortization Period And Goodwill) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Feb. 28, 2013	Jun. 30, 2014	Dec. 31, 2013	Feb. 28, 2013	Feb. 28, 2013	Feb. 28, 2013	Feb. 28, 2013	Feb. 28, 2013	Feb. 28, 2013
In Thousands, unless otherwise specified				Jefferies [Member]	Jefferies [Member]	Jefferies [Member]	Customer Relationships [Member]	Tradenames And Related Trademarks [Member]	Exchange And Clearing Organization Membership Interests And Registrations [Member]	Minimum [Member]	Maximum [Member]
							Jefferies [Member]	Jefferies [Member]	Jefferies [Member]	Customer Relationships [Member]	Customer Relationships [Member]
										Jefferies [Member]	Jefferies [Member]
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Intangible assets	'	'	$282,852	'	'	$282,852	$136,002	$131,299	$15,551	'	'
Goodwill	1,750,870	1,748,099	1,722,591	1,727,328	1,724,557	1,722,591	'	'	'	'	'
Total	'	'	'	'	'	$2,005,443	'	'	'	'	'
Amortization Years	'	'	'	'	'	'	'	'35 years	'	'9 years	'18 years

Acquisitions_Pro_Forma_Operati

Acquisitions (Pro Forma Operating Results) (Details) (Jefferies [Member], USD $)	3 Months Ended	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2013
Jefferies [Member]	'	'
Net revenues	$2,675,725	$5,631,515
Net income attributable to Leucadia National Corporation common shareholders	$57,314	$253,403
Basic income per common share attributable to Leucadia National Corporation common shareholders	$0.15	$0.66
Diluted income per common share attributable to Leucadia National Corporation common shareholders	$0.15	$0.66

Fair_Value_Disclosures_Narrati

Fair Value Disclosures (Narrative) (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Feb. 28, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Non-Agency Residential Mortgage-Backed Securities [Member]

Non-Agency Residential Mortgage-Backed Securities [Member]

Non-Agency Residential Mortgage-Backed Securities [Member]

Non-Agency Residential Mortgage-Backed Securities [Member]

Commercial Mortgage-Backed Securities [Member]

Commercial Mortgage-Backed Securities [Member]

Commercial Mortgage-Backed Securities [Member]

Commercial Mortgage-Backed Securities [Member]

Corporate Equity Securities [Member]

Corporate Equity Securities [Member]

Corporate Equity Securities [Member]

Corporate Equity Securities [Member]

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

Collateralized Debt Obligations [Member]

Collateralized Debt Obligations [Member]

Collateralized Debt Obligations [Member]

Collateralized Debt Obligations [Member]

Other Asset-Backed Securities [Member]

Other Asset-Backed Securities [Member]

Loans And Other Receivables [Member]

Loans And Other Receivables [Member]

Loans And Other Receivables [Member]

Loans And Other Receivables [Member]

Investments At Fair Value [Member]

Investments At Fair Value [Member]

Investment In Managed Funds [Member]

Investment In Managed Funds [Member]

KCG Holdings [Member]

KCG Holdings [Member]

Jefferies [Member]

Jefferies [Member]

Harbinger [Member]

Net Derivatives, Liabilities [Member]

Loans [Member]

Loans [Member]

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

item

Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

'

'

'

'

'

'

'

'

'

'

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'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transfers of assets from Level 2 to Level 3

$95,400,000

$54,900,000

$95,100,000

$54,900,000

'

$5,500,000

$29,700,000

$20,900,000

$29,700,000

$14,200,000

$5,600,000

$8,400,000

$5,600,000

$11,600,000

$2,700,000

$11,500,000

$2,700,000

$600,000

$2,000,000

$300,000

$2,000,000

$7,100,000

$2,800,000

$14,300,000

$2,800,000

$29,900,000

$25,500,000

$26,300,000

$6,900,000

$14,200,000

$6,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transfers of assets from Level 3 to Level 2

66,400,000

48,500,000

58,900,000

48,500,000

'

35,600,000

36,000,000

34,300,000

36,000,000

2,300,000

1,500,000

400,000

1,500,000

7,400,000

1,300,000

3,600,000

1,300,000

'

1,200,000

'

1,200,000

4,700,000

5,700,000

3,600,000

5,700,000

1,800,000

3,500,000

1,100,000

2,700,000

2,600,000

2,700,000

6,600,000

7,400,000

6,700,000

3,500,000

'

'

'

'

'

'

'

'

'

'

Transfers of liabilities from Level 2 to Level 3

'

2,300,000

'

2,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11,700,000

2,800,000

3,900,000

100,000

Transfers of liabilities from Level 3 to Level 2

'

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

'

'

'

'

'

'

3,300,000

'

'

'

'

Net gains (losses) on Level 3 assets (realized and unrealized)

16,600,000

-3,400,000

33,700,000

-3,400,000

'

'

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'

'

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'

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'

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'

'

'

'

'

'

'

'

'

'

'

Net gains (losses) on Level 3 liabilities (realized and unrealized)

-8,500,000

400,000

-12,100,000

400,000

'

'

'

'

'

'

'

'

'

'

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'

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'

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'

'

'

'

'

'

'

'

'

'

'

Transfers of loans accounted for as secured financings

20,300,000

'

20,300,000

'

8,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Excluded assets from unobservable quantitative information

104,200,000

'

104,200,000

'

127,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Excluded liabilites from unobservable quantitative information

1,200,000

'

1,200,000

'

14,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash consideration for shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

411,100,000

'

'

'

'

'

Changes in fair value of investments reflected as principal transactions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$7,600,000

$6,600,000

$182,700,000

'

'

'

'

'

'

'

Shares owned, number

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

58,006,024

41,600,000

'

'

'

'

'

Percentage of outstanding common stock owned

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28.00%

20.00%

'

'

'

'

'

Number of directors that can be appointed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

Maximum ownership percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

27.50%

'

'

'

'

'

Ownership limitation time period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

'

'

'

'

Restriction on sale, maximum percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.90%

'

'

'

'

'

Fair_Value_Disclosures_Schedul

Fair Value Disclosures (Schedule Of Assets And Liabilities Measured On Recurring Basis At Fair Value) (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivatives	$253,184,000		$261,094,000
Derivatives	-2,648,507,000		-2,253,589,000
Total trading assets	17,942,865,000		16,699,542,000
Total available for sale securities	1,944,480,000		2,866,143,000
Cash and cash equivalents	4,186,725,000		3,907,595,000
Investments in managed funds	251,188,000		57,285,000
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	3,288,517,000	[1]	3,616,602,000	[1]
Securities received as collateral	126,106,000		11,063,000
Derivatives	226,288,000		180,079,000
Derivatives	-2,747,077,000		-2,352,611,000
Total trading liabilities	8,172,300,000		7,293,102,000
Other secured financings	20,288,000		39,711,000
Obligation to return securities received as collateral	126,106,000		11,063,000
U.S. government securities segregated for regulatory purposes	564,700,000		304,200,000
Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	1,684,304,000		1,844,788,000
Corporate debt securities	1,513,621,000		1,346,078,000
U.S. government and federal agency securities	1,554,835,000		1,324,326,000
Sovereign obligations	2,233,386,000		1,831,357,000
Loans	903,856,000		695,300,000
Derivatives	226,288,000		180,079,000
Physical commodities	39,173,000		36,483,000
Fair value, equity options transfer from Level 1 to Level 2	'		423,000,000
Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	3,136,191,000		2,143,340,000
Corporate debt securities	3,203,168,000		2,987,523,000
Collateralized debt obligations	332,605,000		219,311,000
U.S. government and federal agency securities	2,251,250,000		2,333,610,000
Municipal securities	690,649,000		664,054,000
Sovereign obligations	2,558,365,000		2,348,488,000
Loans and other receivables	1,564,688,000		1,349,128,000
Derivatives	253,184,000		261,094,000
Investments at fair value	145,813,000		101,282,000
Physical commodities	47,166,000		37,888,000
Fair value, equity options transfer from Level 1 to Level 2	'		403,000,000
Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	103,283,000		252,531,000
Corporate debt securities	38,368,000		51,163,000
U.S. government and federal agency securities	945,872,000		1,781,266,000
Residential Mortgage-Backed Securities [Member] | Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, liabilities	16,837,000		34,691,000
Residential Mortgage-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	3,096,902,000		3,037,760,000
Residential Mortgage-Backed Securities [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	584,621,000		579,162,000
Commercial Mortgage-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	603,837,000		1,147,978,000
Commercial Mortgage-Backed Securities [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	49,127,000		17,985,000
Other Asset-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	59,047,000		68,086,000
Other Asset-Backed Securities [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	223,209,000		184,036,000
Level 1 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total trading assets	6,578,533,000	[2]	5,750,939,000	[2]
Total available for sale securities	1,049,155,000	[2]	2,033,797,000	[2]
Cash and cash equivalents	4,186,725,000	[2]	3,907,595,000	[2]
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	3,288,517,000	[1],[2]	3,616,602,000	[1],[2]
Securities received as collateral	126,106,000	[2]	11,063,000	[2]
Total trading liabilities	4,779,637,000	[2]	4,532,816,000	[2]
Obligation to return securities received as collateral	126,106,000	[2]	11,063,000	[2]
Level 1 [Member] | Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	1,632,106,000	[2]	1,804,392,000	[2]
U.S. government and federal agency securities	1,554,835,000	[2]	1,324,326,000	[2]
Sovereign obligations	1,517,111,000	[2]	1,360,269,000	[2]
Derivatives	75,585,000	[2]	43,829,000	[2]
Level 1 [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	2,774,650,000	[2]	1,957,963,000	[2]
U.S. government and federal agency securities	2,176,254,000	[2]	2,293,221,000	[2]
Sovereign obligations	1,540,017,000	[2]	1,458,803,000	[2]
Derivatives	87,612,000	[2]	40,952,000	[2]
Level 1 [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	103,283,000	[2]	252,531,000	[2]
U.S. government and federal agency securities	945,872,000	[2]	1,781,266,000	[2]
Level 2 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total trading assets	13,500,816,000	[2]	12,745,130,000	[2]
Total available for sale securities	895,325,000	[2]	832,346,000	[2]
Investments in managed funds	195,069,000	[2]	'
Total trading liabilities	6,089,193,000	[2]	5,081,999,000	[2]
Other secured financings	'		31,000,000	[2]
Level 2 [Member] | Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	52,160,000	[2]	40,358,000	[2]
Corporate debt securities	1,510,841,000	[2]	1,346,078,000	[2]
Sovereign obligations	716,275,000	[2]	471,088,000	[2]
Loans	872,322,000	[2]	672,838,000	[2]
Derivatives	2,881,585,000	[2]	2,480,463,000	[2]
Physical commodities	39,173,000	[2]	36,483,000	[2]
Level 2 [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	345,139,000	[2]	175,493,000	[2]
Corporate debt securities	3,171,520,000	[2]	2,961,857,000	[2]
Collateralized debt obligations	290,292,000	[2]	182,095,000	[2]
U.S. government and federal agency securities	74,996,000	[2]	40,389,000	[2]
Municipal securities	690,649,000	[2]	664,054,000	[2]
Sovereign obligations	1,018,348,000	[2]	889,685,000	[2]
Loans and other receivables	1,426,045,000	[2]	1,203,238,000	[2]
Derivatives	2,813,166,000	[2]	2,472,238,000	[2]
Investments at fair value	5,361,000	[2]	40,000	[2]
Physical commodities	47,166,000	[2]	37,888,000	[2]
Level 2 [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate debt securities	38,368,000	[2]	51,163,000	[2]
Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, liabilities	16,837,000	[2]	34,691,000	[2]
Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	3,024,940,000	[2]	2,932,268,000	[2]
Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	584,621,000	[2]	579,162,000	[2]
Level 2 [Member] | Commercial Mortgage-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	579,591,000	[2]	1,130,410,000	[2]
Level 2 [Member] | Commercial Mortgage-Backed Securities [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	49,127,000	[2]	17,985,000	[2]
Level 2 [Member] | Other Asset-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	13,603,000	[2]	55,475,000	[2]
Level 2 [Member] | Other Asset-Backed Securities [Member] | Available For Sale Securities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	223,209,000	[2]	184,036,000	[2]
Level 3 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total trading assets	512,023,000		457,062,000
Investments in managed funds	56,119,000		57,285,000
Total trading liabilities	50,547,000		30,898,000
Other secured financings	20,288,000		8,711,000
Level 3 [Member] | Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	38,000		38,000
Corporate debt securities	2,780,000		'
Loans	31,534,000		22,462,000
Derivatives	16,195,000		8,398,000
Level 3 [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Corporate equity securities	16,402,000		9,884,000
Corporate debt securities	31,648,000		25,666,000
Collateralized debt obligations	42,313,000		37,216,000
Loans and other receivables	138,643,000		145,890,000
Derivatives	913,000		1,493,000
Investments at fair value	140,452,000		101,242,000
Level 3 [Member] | Residential Mortgage-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	71,962,000		105,492,000
Level 3 [Member] | Commercial Mortgage-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	24,246,000		17,568,000
Level 3 [Member] | Other Asset-Backed Securities [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Mortgage- and asset-backed securities, assets	45,444,000		12,611,000
Counterparty And Cash Collateral Netting [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total trading assets	-2,648,507,000	[3]	-2,253,589,000	[3]
Total trading liabilities	-2,747,077,000	[3]	-2,352,611,000	[3]
Counterparty And Cash Collateral Netting [Member] | Trading Liabilities [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivatives	-2,747,077,000	[3]	-2,352,611,000	[3]
Counterparty And Cash Collateral Netting [Member] | Trading Assets [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivatives	($2,648,507,000)	[3]	($2,253,589,000)	[3]
[1]	Securities comprise U.S. government securities segregated for regulatory purposes with a fair value of $564.7 million and $304.2 million at June 30, 2014 and December 31, 2013, respectively.
[2]	There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2014. During the year ended December 31, 2013, listed equity options with a fair value of $403.0 million within Trading assets and $423.0 million within Trading liabilities were transferred from Level 1 to Level 2 as adjustments to the exchange closing price are necessary to best reflect the fair value of the population at its exit price.
[3]	Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty.

Fair_Value_Disclosures_Investm

Fair Value Disclosures (Investments Measured At Fair Value Based On Net Asset Value) (Details) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	$287,448	[1],[2]	$91,633	[1],[2]
Unfunded commitments	27,503	[2]	40,910	[2]
Equity Long/Short Hedge Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	121,997	[1],[3]	20,927	[1],[3]
Redemption Frequency (if currently eligible)	'Monthly/Quarterly	[3]	'Monthly/Quarterly	[3]
High Yield Hedge Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	232	[1],[4]	244	[1],[4]
Fund Of Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	388	[1],[5]	494	[1],[5]
Unfunded commitments	94	[5]	94	[5]
Equity Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	69,047	[1],[6]	66,495	[1],[6]
Unfunded commitments	27,409	[6]	40,816	[6]
Convertible Bond Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	3,647	[1],[7]	3,473	[1],[7]
Redemption Frequency (if currently eligible)	'At Will	[7]	'At Will	[7]
Multi-Strategy Fund [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair Value	$92,137	[1],[8]	'
[1]	Fair value has been estimated using the net asset value derived from each of the funds' capital statements.
[2]	Investments at fair value in the Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013, include $87.2 million and $66.9 million, respectively, of direct investments which do not have the characteristics of investment companies and therefore not included within this table. We have unfunded commitments to such investments of $0 million and $3.3 million in aggregate at June 30, 2014 and December 31, 2013, respectively.
[3]	This category includes investments in hedge funds that invest, long and short, in equity securities in domestic and international markets in both the public and private sectors. At June 30, 2014 and December 31, 2013, investments representing approximately 99% and 98%, respectively, of the fair value of investments in this category are redeemable with 30 to 65 days prior written notice, and includes an investment in a private asset management fund managed by us with a fair value of $99.3 million at June 30, 2014. The remaining investments in this category cannot be redeemed as they are in liquidation and distributions will be received through the liquidation of the underlying assets of the funds. We are unable to estimate when the underlying assets will be liquidated.
[4]	Includes investments in funds that invest in domestic and international public high yield debt, private high yield investments, senior bank loans, public leveraged equities, distressed debt, and private equity investments. There are no redemption provisions. The underlying assets of the funds are being liquidated and we are unable to estimate when the underlying assets will be fully liquidated.
[5]	Includes investments in fund of funds that invest in various private equity funds. At June 30, 2014 and December 31, 2013, approximately 96% and 98%, respectively, of the fair value of investments in this category is managed by us and has no redemption provisions, instead distributions are received through the liquidation of the underlying assets of the fund of funds, which are estimated to be liquidated in one to two years. For the remaining investments, we have requested redemption; however, we are unable to estimate when these funds will be received.
[6]	At June 30, 2014 and December 31, 2013, investments representing approximately 99% and 99%, respectively, of the fair value of investments in this category include investments in equity funds that invest in the equity of various U.S. and foreign private companies in the energy, technology, internet service and telecommunication service industries. These investments cannot be redeemed, instead distributions are received through the liquidation of the underlying assets of the funds which are expected to liquidate in one to eight years. The remaining investments are in liquidation and we are unable to estimate when the underlying assets will be fully liquidated. At June 30, 2014 and December 31, 2013, this category includes investments in equity funds managed by us with a fair value of $56.6 million and $54.4 million, respectively, and unfunded commitments of $25.8 million and $39.2 million, respectively.
[7]	Investment in the Jefferies Umbrella Fund, an open-ended investment company managed by us that invests primarily in convertible bonds. The investment is redeemable with 5 days prior written notice.
[8]	Investment in private asset management fund managed by us that employs a variety of investment strategies and can invest in U.S. and non-U.S. equity and equity related securities, futures, exchange traded funds, fixed income securities, preferred securities, options, forward contracts and swaps. Withdrawals from the fund prior to the first year anniversary of the investment are subject to a 5% withdrawal fee and withdrawals during any calendar quarter are limited to 25% of the fund's net asset value. Both of these restrictions can be waived by us, in our sole discretion.

Fair_Value_Disclosures_Investm1

Fair Value Disclosures (Investments Measured At Fair Value Based On Net Asset Value) (Additional Information) (Details) (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2014		Dec. 31, 2013
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Unfunded commitments	$27,503,000	[1]	40,910,000	[1]
Equity Long/Short Hedge Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Percentage of redeemable investments	99.00%		98.00%
Investment in private asset management fund managed by company	99,300,000		'
Funds Of Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Percentage of investments with no redemption provisions	96.00%		98.00%
Multi-Strategy Fund [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fee to withdraw from fund	5.00%		'
Quarterly maximum withdrawal percentage	25.00%		'
Equity Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Percentage of investments in certain industries	99.00%		99.00%
Convertible Bonds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Notice period redemption of investments prior written notice period	'5 days		'5 days
Investments Which Are Not Investment Companies [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Unfunded commitments	0		3,300,000
Investments at fair value	87,200,000		66,900,000
Minimum [Member] | Equity Long/Short Hedge Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Notice period redemption of investments prior written notice period	'30 days		'30 days
Minimum [Member] | Funds Of Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Estimated period for the liquidation of the underlying assets	'1 year		'1 year
Minimum [Member] | Equity Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Estimated period for the liquidation of the underlying assets	'1 year		'1 year
Maximum [Member] | Equity Long/Short Hedge Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Notice period redemption of investments prior written notice period	'65 days		'65 days
Maximum [Member] | Funds Of Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Estimated period for the liquidation of the underlying assets	'2 years		'2 years
Maximum [Member] | Equity Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Estimated period for the liquidation of the underlying assets	'8 years		'8 years
Managed By Entity [Member] | Equity Funds [Member]	'		'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]	'		'
Fair value of investments in equity funds managed by entity	56,600,000		54,400,000
Unfunded commitments	$25,800,000		39,200,000
[1]	Investments at fair value in the Consolidated Statements of Financial Condition at June 30, 2014 and December 31, 2013, include $87.2 million and $66.9 million, respectively, of direct investments which do not have the characteristics of investment companies and therefore not included within this table. We have unfunded commitments to such investments of $0 million and $3.3 million in aggregate at June 30, 2014 and December 31, 2013, respectively.

Fair_Value_Disclosures_Summary

Fair Value Disclosures (Summary Of Trading Assets And Trading Liabilities) (Details)	Jun. 30, 2014	Dec. 31, 2013
Trading Assets and Trading Liabilities Measured Using Different Valuation Basis [Line Items]	'	'
Trading assets	100.00%	100.00%
Trading liabilities	100.00%	100.00%
Exchange Closing Prices [Member]	'	'
Trading Assets and Trading Liabilities Measured Using Different Valuation Basis [Line Items]	'	'
Trading assets	12.00%	12.00%
Trading liabilities	20.00%	25.00%
Recently Observed Transaction Prices [Member]	'	'
Trading Assets and Trading Liabilities Measured Using Different Valuation Basis [Line Items]	'	'
Trading assets	4.00%	5.00%
Trading liabilities	5.00%	4.00%
External Pricing Services [Member]	'	'
Trading Assets and Trading Liabilities Measured Using Different Valuation Basis [Line Items]	'	'
Trading assets	72.00%	68.00%
Trading liabilities	70.00%	66.00%
Broker Quotes [Member]	'	'
Trading Assets and Trading Liabilities Measured Using Different Valuation Basis [Line Items]	'	'
Trading assets	3.00%	3.00%
Trading liabilities	2.00%	3.00%
Valuation Techniques [Member]	'	'
Trading Assets and Trading Liabilities Measured Using Different Valuation Basis [Line Items]	'	'
Trading assets	9.00%	12.00%
Trading liabilities	3.00%	2.00%

Fair_Value_Disclosures_Summary1

Fair Value Disclosures (Summary Of Changes In Fair Value Of Financial Assets And Liabilities Classified As Level 3) (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Total gains (losses) (realized and unrealized)	$16,600		($3,400)		$33,700		($3,400)
Total gains (losses) (realized and unrealized)	-8,500		400		-12,100		400
Corporate Equity Securities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	12,341		13,234	[1]	9,884		13,234	[1]
Total gains (losses) (realized and unrealized)	-178	[2]	2,906	[1],[2]	-1,583	[2]	2,906	[1],[2]
Purchases	90		5,023	[1]	608		5,023	[1]
Sales	-84		-2,984	[1]	-370		-2,984	[1]
Net transfers into/ (out of) Level 3	4,233		1,398	[1]	7,863	[2]	1,398	[1]
Ending Balance	16,402		19,577	[1]	16,402		19,577	[1]
Change in unrealized gains/(losses) relating to instruments still held	-178	[2]	2,058	[1],[2]	-494	[2]	2,058	[1],[2]
Beginning Balance	1,015		38	[1]	38		38	[1]
Total gains (losses) (realized and unrealized)	-977	[2]	'		'		'
Ending Balance	38		38	[1]	38		38	[1]
Change in unrealized gains/(losses) relating to instruments still held	558	[2]	'		'		'
Corporate Debt Securities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	29,315		31,820	[1]	25,666		31,820	[1]
Total gains (losses) (realized and unrealized)	5,659	[2]	-2,867	[1],[2]	5,116	[2]	-2,867	[1],[2]
Purchases	1,937		918	[1]	3,835		918	[1]
Sales	-5,831		-11,989	[1]	-3,224		-11,989	[1]
Net transfers into/ (out of) Level 3	568		733	[1]	255	[2]	733	[1]
Ending Balance	31,648		18,615	[1]	31,648		18,615	[1]
Change in unrealized gains/(losses) relating to instruments still held	7,999	[2]	-2,242	[1],[2]	7,420	[2]	-2,242	[1],[2]
Total gains (losses) (realized and unrealized)	-84	[2]	'		-203	[2]	'
Purchases	-4,082		'		-28,319		'
Sales	3,012		'		31,431		'
Net transfers into/ (out of) Level 3	3,934		'		-129	[2]	'
Ending Balance	2,780		'		2,780		'
Change in unrealized gains/(losses) relating to instruments still held	84	[2]	'		203	[2]	'
Collateralized Debt Obligations [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	66,028		29,776	[1]	37,216		29,776	[1]
Total gains (losses) (realized and unrealized)	4,706	[2]	6,698	[1],[2]	14,169	[2]	6,698	[1],[2]
Purchases	19,146		17,864	[1]	36,200		17,864	[1]
Sales	-49,636		-6,270	[1]	-55,963		-6,270	[1]
Settlements	-331		'		'		'
Net transfers into/ (out of) Level 3	2,400		-2,944	[1]	10,691	[2]	-2,944	[1]
Ending Balance	42,313		45,124	[1]	42,313		45,124	[1]
Change in unrealized gains/(losses) relating to instruments still held	238	[2]	6,148	[1],[2]	5,656	[2]	6,148	[1],[2]
Residential Mortgage-Backed Securities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	116,992		169,426	[1]	105,492		169,426	[1]
Total gains (losses) (realized and unrealized)	-791	[2]	-86	[1],[2]	-4,114	[2]	-86	[1],[2]
Purchases	10,955		57,750	[1]	21,893		57,750	[1]
Sales	-24,618		-71,534	[1]	-37,356		-71,534	[1]
Settlements	-459		-5,436	[1]	-529		-5,436	[1]
Net transfers into/ (out of) Level 3	-30,117		-6,354	[1]	-13,424	[2]	-6,354	[1]
Ending Balance	71,962		143,766	[1]	71,962		143,766	[1]
Change in unrealized gains/(losses) relating to instruments still held	-422	[2]	-367	[1],[2]	-1,324	[2]	-367	[1],[2]
Beginning Balance	'		1,542	[1]	'		1,542	[1]
Purchases	'		-1,542	[1]	'		-1,542	[1]
Commercial Mortgage-Backed Securities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	17,486		17,794	[1]	17,568		17,794	[1]
Total gains (losses) (realized and unrealized)	-903	[2]	-2,905	[1],[2]	-2,191	[2]	-2,905	[1],[2]
Purchases	18,026		1,403	[1]	32,449		1,403	[1]
Sales	-21,038		-2,744	[1]	-29,864		-2,744	[1]
Settlements	-1,189		-1,578	[1]	-1,710		-1,578	[1]
Net transfers into/ (out of) Level 3	11,864		4,098	[1]	7,994	[2]	4,098	[1]
Ending Balance	24,246		16,068	[1]	24,246		16,068	[1]
Change in unrealized gains/(losses) relating to instruments still held	-1,933	[2]	-3,835	[1],[2]	-3,236	[2]	-3,835	[1],[2]
Other Asset-Backed Securities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	2,375		1,252	[1]	12,611		1,252	[1]
Total gains (losses) (realized and unrealized)	-314	[2]	-4	[1],[2]	-537	[2]	-4	[1],[2]
Purchases	15,686		'		17,361		'
Sales	'		'		-5,496		'
Settlements	-438		'		-438		'
Net transfers into/ (out of) Level 3	28,135		196	[1]	21,943	[2]	196	[1]
Ending Balance	45,444		1,444	[1]	45,444		1,444	[1]
Change in unrealized gains/(losses) relating to instruments still held	-314	[2]	-4	[1],[2]	-569	[2]	-4	[1],[2]
Loans And Other Receivables [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	128,832		170,986	[1]	145,890		170,986	[1]
Total gains (losses) (realized and unrealized)	11,933	[2]	-5,049	[1],[2]	3,946	[2]	-5,049	[1],[2]
Purchases	42,278		160,409	[1]	92,579		160,409	[1]
Sales	-48,064		-24,741	[1]	-88,674		-24,741	[1]
Settlements	-21,482		-188,268	[1]	-26,685		-188,268	[1]
Net transfers into/ (out of) Level 3	25,146		4,159	[1]	11,587	[2]	4,159	[1]
Ending Balance	138,643		117,496	[1]	138,643		117,496	[1]
Change in unrealized gains/(losses) relating to instruments still held	11,922	[2]	-6,925	[1],[2]	3,382	[2]	-6,925	[1],[2]
Investments At Fair Value [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	138,843		70,067	[1]	101,242		70,067	[1]
Total gains (losses) (realized and unrealized)	4,678	[2]	-1,197	[1],[2]	30,176	[2]	-1,197	[1],[2]
Purchases	7,660		5,000	[1]	30,160		5,000	[1]
Sales	-4,101		'		-13,722		'
Settlements	'		-2,493	[1]	'		-2,493	[1]
Net transfers into/ (out of) Level 3	-6,628		4,987	[1]	-7,404	[2]	4,987	[1]
Ending Balance	140,452		76,364	[1]	140,452		76,364	[1]
Change in unrealized gains/(losses) relating to instruments still held	2,030	[2]	-1,349	[1],[2]	27,529	[2]	-1,349	[1],[2]
Investments In Managed Funds [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	59,528		59,976	[1]	57,285		59,976	[1]
Total gains (losses) (realized and unrealized)	-8,151	[2]	-927	[1],[2]	-11,284	[2]	-927	[1],[2]
Purchases	11,305		2,532	[1]	13,407		2,532	[1]
Settlements	'		-6,562	[1]	'		-6,562	[1]
Net transfers into/ (out of) Level 3	-6,563		122	[1]	-3,289	[2]	122	[1]
Ending Balance	56,119		55,141	[1]	56,119		55,141	[1]
Change in unrealized gains/(losses) relating to instruments still held	-8,151	[2]	-926	[1],[2]	-11,284	[2]	-926	[1],[2]
Net Derivatives [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	5,773	[3]	11,185	[1],[3]	6,905	[3]	11,185	[1],[3]
Total gains (losses) (realized and unrealized)	9,485	[2],[3]	-386	[1],[2],[3]	11,591	[2],[3]	-386	[1],[2],[3]
Purchases	-2,150	[3]	'		-179	[3]	'
Sales	2,149	[3]	'		-21	[3]	'
Settlements	25	[3]	'		318	[3]	'
Net transfers into/ (out of) Level 3	'		'		-3,332	[2],[3]	'
Ending Balance	15,282	[3]	10,799	[1],[3]	15,282	[3]	10,799	[1],[3]
Change in unrealized gains/(losses) relating to instruments still held	-9,485	[2],[3]	386	[1],[2],[3]	-11,591	[2],[3]	386	[1],[2],[3]
Loans [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	10,260		7,398	[1]	22,462		7,398	[1]
Total gains (losses) (realized and unrealized)	62	[2]	'		754	[2]	'
Purchases	-9,629		-7,398	[1]	-22,491		-7,398	[1]
Sales	18,995		15,212	[1]	27,908		15,212	[1]
Settlements	139		'		139		'
Net transfers into/ (out of) Level 3	11,707		'		2,762	[2]	'
Ending Balance	31,534		15,212	[1]	31,534		15,212	[1]
Change in unrealized gains/(losses) relating to instruments still held	-57	[2]	'		-57	[2]	'
Other Secured Financings [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Beginning Balance	30,394		'		8,711		'
Purchases	-992		'		'		'
Settlements	-9,114		'		-9,114		'
Issuances	'		'		20,691		'
Net transfers into/ (out of) Level 3	'		2,294	[1]	'		2,294	[1]
Ending Balance	$20,288		$2,294	[1]	$20,288		$2,294	[1]
[1]	There were no issuances.
[2]	Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations.
[3]	Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.

Fair_Value_Disclosures_Quantit

Fair Value Disclosures (Quantitative Information About Significant Unobservable Inputs Used In Level 3 Fair Value Measurements) (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Corporate Debt Securities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Trading Liabilities	$2,780	'
Fair Value Inputs, Comparable bond price	$30	'
Derivatives, Liabilities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Trading Liabilities	15,033	8,398
Loans [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Trading Liabilities	31,534	8,106
Fair Value Inputs, Comparable bond or loan price	'	$101.88
Fair Value Inputs, Comparable loan price	$100.38	'
Minimum [Member] | Derivatives, Liabilities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Volatility	'	36.25%
Fair Value Inputs, Comparable loan price	$92.25	'
Maximum [Member] | Derivatives, Liabilities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Volatility	'	41.00%
Fair Value Inputs, Comparable loan price	$102.20	'
Weighted Average [Member] | Derivatives, Liabilities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Volatility	'	39.00%
Fair Value Inputs, Comparable loan price	$94	'
Corporate Equity Securities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	16,402	8,034
Fair Value Inputs, Volatility	'	36.00%
Corporate Equity Securities [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3.3	4
Corporate Equity Securities [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3.5	5.5
Corporate Equity Securities [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3.5	4.53
Corporate Debt Securities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	29,739	17,699
Fair Value Inputs, Estimated recovery percentage	'	24.00%
Fair Value Inputs, Yield	'	13.00%
Corporate Debt Securities [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Estimated recovery percentage	25.00%	'
Fair Value Inputs, Comparable bond or loan price	'	$69.10
Corporate Debt Securities [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Estimated recovery percentage	50.00%	'
Fair Value Inputs, Comparable bond or loan price	'	$70.50
Corporate Debt Securities [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Estimated recovery percentage	42.00%	'
Fair Value Inputs, Comparable bond or loan price	'	$69.91
Collateralized Debt Obligations [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	40,213	34,316
Collateralized Debt Obligations [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	10.00%	0.00%
Fair Value Inputs, Constant default rate	0.00%	2.00%
Fair Value Inputs, Loss severity	30.00%	30.00%
Fair Value Inputs, Yield	5.00%	3.00%
Collateralized Debt Obligations [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	20.00%	20.00%
Fair Value Inputs, Constant default rate	3.00%	3.00%
Fair Value Inputs, Loss severity	85.00%	85.00%
Fair Value Inputs, Yield	43.00%	91.00%
Collateralized Debt Obligations [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	13.00%	13.00%
Fair Value Inputs, Constant default rate	2.00%	2.00%
Fair Value Inputs, Loss severity	57.00%	38.00%
Fair Value Inputs, Yield	20.00%	28.00%
Residential Mortgage-Backed Securities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	71,962	105,492
Residential Mortgage-Backed Securities [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	1.00%	2.00%
Fair Value Inputs, Constant default rate	1.00%	1.00%
Fair Value Inputs, Loss severity	0.00%	30.00%
Fair Value Inputs, Yield	3.00%	0.00%
Residential Mortgage-Backed Securities [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	50.00%	50.00%
Fair Value Inputs, Constant default rate	100.00%	100.00%
Fair Value Inputs, Loss severity	90.00%	90.00%
Fair Value Inputs, Yield	14.00%	20.00%
Residential Mortgage-Backed Securities [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	13.00%	11.00%
Fair Value Inputs, Constant default rate	20.00%	17.00%
Fair Value Inputs, Loss severity	50.00%	48.00%
Fair Value Inputs, Yield	9.00%	7.00%
Commercial Mortgage-Backed Securities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	24,246	17,568
Commercial Mortgage-Backed Securities [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Yield	9.00%	12.00%
Fair Value Inputs, Cumulative loss rate	0.00%	5.00%
Commercial Mortgage-Backed Securities [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Yield	18.00%	20.00%
Fair Value Inputs, Cumulative loss rate	9.00%	28.20%
Commercial Mortgage-Backed Securities [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Yield	12.00%	14.00%
Fair Value Inputs, Cumulative loss rate	4.00%	11.00%
Other Asset-Backed Securities [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	45,444	12,611
Fair Value Inputs, Comparable bond price	$100	'
Fair Value Inputs, Constant prepayment rate	0.00%	'
Fair Value Inputs, Constant default rate	0.00%	'
Fair Value Inputs, Loss severity	0.00%	'
Fair Value Inputs, Yield	4.00%	'
Other Asset-Backed Securities [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	'	4.00%
Fair Value Inputs, Constant default rate	'	2.00%
Fair Value Inputs, Loss severity	'	40.00%
Fair Value Inputs, Yield	'	3.00%
Other Asset-Backed Securities [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	'	30.00%
Fair Value Inputs, Constant default rate	'	11.00%
Fair Value Inputs, Loss severity	'	92.00%
Fair Value Inputs, Yield	'	29.00%
Other Asset-Backed Securities [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Constant prepayment rate	'	17.00%
Fair Value Inputs, Constant default rate	'	7.00%
Fair Value Inputs, Loss severity	'	64.00%
Fair Value Inputs, Yield	'	18.00%
Loans And Other Receivables [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	130,068	101,931
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	'	6.9
Loans And Other Receivables [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3	'
Fair Value Inputs, Estimated recovery percentage	10.00%	16.90%
Fair Value Inputs, Comparable bond or loan price	$93.50	$91
Fair Value Inputs, Yield	3.00%	8.75%
Loans And Other Receivables [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	8	'
Fair Value Inputs, Estimated recovery percentage	100.00%	92.00%
Fair Value Inputs, Comparable bond or loan price	$100.38	$101
Fair Value Inputs, Yield	4.00%	13.50%
Loans And Other Receivables [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	6	'
Fair Value Inputs, Estimated recovery percentage	88.00%	74.00%
Fair Value Inputs, Comparable bond or loan price	$98	$98.90
Fair Value Inputs, Yield	4.00%	10.00%
Derivatives, Assets [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	913	1,493
Fair Value Inputs, Comparable bond or loan price	'	$100.88
Fair Value Inputs, Comparable loan price	$100.38	'
Investments At Fair Value [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value of Financial Instruments Owned	$48,844	$30,203
Fair Value Inputs, Comparable share price	$27	$414
Investments At Fair Value [Member] | Minimum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Discount rate	15.00%	15.00%
Investments At Fair Value [Member] | Maximum [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Discount rate	30.00%	30.00%
Investments At Fair Value [Member] | Weighted Average [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'
Fair Value Inputs, Discount rate	23.00%	23.00%

Fair_Value_Disclosures_Summary2

Fair Value Disclosures (Summary Of Gains (Losses) Due To Changes In Instrument Specific Credit Risk For Loans and Other Receivables And Loan Commitments Measured At Fair Value Under Fair Value Option) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Financial Instruments [Line Items]	'	'	'	'
Loans and other receivables	$2,038	$13,474	$1,430	$13,474
Financial Instruments Sold [Member]	'	'	'	'
Financial Instruments [Line Items]	'	'	'	'
Loans	-1,555	'	-2,591	'
Loan Commitments	($9,024)	($5,421)	($11,090)	($5,421)

Fair_Value_Disclosures_Summary3

Fair Value Disclosures (Summary Of Amount By Which Contractual Principal Exceeds Fair Value For Loans And Other Receivables Measured At Fair Value Under Fair Value Option) (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
Fair Value Disclosures [Abstract]	'		'
Loans and other receivables	$276,420,000	[1]	$264,896,000	[1]
Loans greater than 90 days past due	'	[1],[2]	'	[1],[2]
Aggregate fair value of loans 90 or more days past due	$0		$0
[1]	Interest income is recognized separately from other changes in fair value and is included within Interest income in the Consolidated Statements of Operations.
[2]	The aggregate fair value of loans that were 90 or more days past due was $0.0 million and $0.0 million at June 30, 2014 and December 31, 2013, respectively.

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Narrative) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Derivative Financial Instruments [Abstract]	'	'
Fair value of derivative instruments in a liability position	$47.30	$170.20
Collateral posted for derivative instruments in a liability position	42.4	127.7
Potential additional collateral required for derivative instruments in a liability position	$5.60	$49.40

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Fair Value And Related Number Of Derivative Contracts Categorized By Predominant Risk Exposure) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	$2,901,691	$2,514,683
Fair Value, Liabilities	2,973,365	2,532,690
Counterparty/cash-collateral netting, Assets	-2,648,507	-2,253,589
Counterparty/cash-collateral netting, Liabilities	-2,747,077	-2,352,611
Total Derivative Assets per Consolidated Statement of Financial Condition	253,184	261,094
Total Derivative Liabilities per Consolidated Statement of Financial Condition	226,288	180,079
Interest Rate Contracts [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	1,672,195	1,165,977
Number of Contracts, Assets	48,853	63,967
Fair Value, Liabilities	1,678,742	1,131,166
Number of Contracts, Liabilities	67,733	77,338
Foreign Exchange Contracts [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	474,633	653,772
Number of Contracts, Assets	64,945	118,707
Fair Value, Liabilities	488,763	693,658
Number of Contracts, Liabilities	62,943	112,417
Equity Contracts [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	553,622	501,784
Number of Contracts, Assets	1,820,612	1,742,343
Fair Value, Liabilities	555,213	474,985
Number of Contracts, Liabilities	1,751,789	1,800,603
Commodity Contracts [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	196,560	141,280
Number of Contracts, Assets	848,890	797,529
Fair Value, Liabilities	221,075	173,119
Number of Contracts, Liabilities	841,714	788,717
Credit Contracts: Centrally Cleared Swaps [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	3,386	49,531
Number of Contracts, Assets	4	49
Fair Value, Liabilities	6,550	51,632
Number of Contracts, Liabilities	9	46
Credit Contracts: Other Credit Derivatives [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair Value, Assets	1,295	2,339
Number of Contracts, Assets	15	16
Fair Value, Liabilities	$23,022	$8,130
Number of Contracts, Liabilities	31	19

Derivative_Financial_Instrumen4

Derivative Financial Instruments (Unrealized And Realized Gains (Losses) On Derivative Contracts (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized and realized gains (losses)	($117,195)	$77,911	($190,770)	$77,911
Interest Rate Contracts [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized and realized gains (losses)	-49,738	29,381	-49,946	29,381
Foreign Exchange Contracts [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized and realized gains (losses)	-4,281	4,135	1,156	4,135
Equity Contracts [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized and realized gains (losses)	-73,529	33,892	-164,630	33,892
Commodity Contracts [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized and realized gains (losses)	21,794	21,513	37,980	21,513
Credit Contracts [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized and realized gains (losses)	($11,441)	($11,010)	($15,330)	($11,010)

Derivative_Financial_Instrumen5

Derivative Financial Instruments (Remaining Contract Maturity Of Fair Value Of OTC Derivative Assets And Liabilities) (Details) (USD $)	Jun. 30, 2014
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative assets having maturity period of 0 to 12 months	$226,599,000	[1],[2],[3]
OTC derivative assets having maturity period of 1 to 5 years	130,800,000	[1],[2],[3]
OTC derivative assets having maturity period of greater than 5 years	129,269,000	[1],[2],[3]
OTC derivative assets cross-maturity netting	-84,660,000	[1],[2],[3],[4]
Total OTC derivative assets, net of cross-maturity netting	402,008,000	[1],[2],[3]
Cross product counterparty netting	-17,810,000	[1],[2],[3]
Total OTC derivative assets included in Trading assets	384,198,000	[1],[2],[3],[5]
OTC derivative liabilities having maturity period of 0 to 12 months	225,317,000	[3],[6],[7]
OTC derivative liabilities having maturity period of 1 to 5 years	145,975,000	[3],[6],[7]
OTC derivative liabilities having maturity period of greater than 5 years	176,850,000	[3],[6],[7]
OTC derivative liabilities cross-maturity netting	-84,660,000	[3],[4],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	463,482,000	[3],[6],[7]
Cross product counterparty netting	-17,810,000	[3],[6],[7]
Total OTC derivative liabilities included in Trading liabilities	445,672,000	[3],[6],[7]
Exchange traded derivative assets and other credit agreements	11,600,000
Cash collateral received	143,000,000
Exchange traded derivative liabilities and other credit agreements	22,200,000
Cash collateral pledged	241,600,000
Commodity Swaps, Options And Forwards [Member]	'
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative assets having maturity period of 0 to 12 months	52,226,000	[1],[2],[3]
OTC derivative assets having maturity period of 1 to 5 years	1,435,000	[1],[2],[3]
Total OTC derivative assets, net of cross-maturity netting	53,661,000	[1],[2],[3]
OTC derivative liabilities having maturity period of 0 to 12 months	78,158,000	[3],[6],[7]
OTC derivative liabilities having maturity period of 1 to 5 years	9,117,000	[3],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	87,275,000	[3],[6],[7]
Credit Default Swaps [Member]	'
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative liabilities having maturity period of 0 to 12 months	51,000	[3],[6],[7]
OTC derivative liabilities having maturity period of 1 to 5 years	8,744,000	[3],[6],[7]
OTC derivative liabilities having maturity period of greater than 5 years	898,000	[3],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	9,693,000	[3],[6],[7]
Equity Swaps And Options [Member]	'
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative assets having maturity period of 0 to 12 months	1,297,000	[1],[2],[3]
Total OTC derivative assets, net of cross-maturity netting	1,297,000	[1],[2],[3]
OTC derivative liabilities having maturity period of greater than 5 years	9,300,000	[3],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	9,300,000	[3],[6],[7]
Total Return Swaps [Member]	'
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative assets having maturity period of 0 to 12 months	6,559,000	[1],[2],[3]
Total OTC derivative assets, net of cross-maturity netting	6,559,000	[1],[2],[3]
OTC derivative liabilities having maturity period of 0 to 12 months	2,200,000	[3],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	2,200,000	[3],[6],[7]
Foreign Currency Forwards, Swaps And Options [Member]	'
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative assets having maturity period of 0 to 12 months	85,715,000	[1],[2],[3]
OTC derivative assets having maturity period of 1 to 5 years	15,283,000	[1],[2],[3]
OTC derivative assets having maturity period of greater than 5 years	51,000	[1],[2],[3]
OTC derivative assets cross-maturity netting	-14,167,000	[1],[2],[3],[4]
Total OTC derivative assets, net of cross-maturity netting	86,882,000	[1],[2],[3]
OTC derivative liabilities having maturity period of 0 to 12 months	88,516,000	[3],[6],[7]
OTC derivative liabilities having maturity period of 1 to 5 years	16,380,000	[3],[6],[7]
OTC derivative liabilities cross-maturity netting	-14,167,000	[3],[4],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	90,729,000	[3],[6],[7]
Interest Rate Swaps, Options And Forwards [Member]	'
Remaining Contract Maturity Of Fair Value Of Over Counter Derivative Assets And Liabilities [Line Items]	'
OTC derivative assets having maturity period of 0 to 12 months	80,802,000	[1],[2],[3]
OTC derivative assets having maturity period of 1 to 5 years	114,082,000	[1],[2],[3]
OTC derivative assets having maturity period of greater than 5 years	129,218,000	[1],[2],[3]
OTC derivative assets cross-maturity netting	-70,493,000	[1],[2],[3],[4]
Total OTC derivative assets, net of cross-maturity netting	253,609,000	[1],[2],[3]
OTC derivative liabilities having maturity period of 0 to 12 months	56,392,000	[3],[6],[7]
OTC derivative liabilities having maturity period of 1 to 5 years	111,734,000	[3],[6],[7]
OTC derivative liabilities having maturity period of greater than 5 years	166,652,000	[3],[6],[7]
OTC derivative liabilities cross-maturity netting	-70,493,000	[3],[4],[6],[7]
Total OTC derivative liabilities, net of cross-maturity netting	$264,285,000	[3],[6],[7]
[1]	At June 30, 2014, we held exchange traded derivative assets and other credit agreements with a fair value of $11.6 million, which are not included in this table.
[2]	OTC derivative assets in the table above are gross of collateral received. OTC derivative assets are recorded net of collateral received in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral received was $143.0 million.
[3]	Derivative fair values include counterparty netting within product category.
[4]	Amounts represent the netting of receivable balances with payable balances for the same counterparty within product category across maturity categories.
[5]	We utilize internal credit ratings determined by Jefferies Risk Management. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies.
[6]	At June 30, 2014, we held exchange traded derivative liabilities and other credit agreements with a fair value of $22.2 million, which are not included in this table.
[7]	OTC derivative liabilities in the table above are gross of collateral pledged. OTC derivative liabilities are recorded net of collateral pledged in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral pledged was $241.6 million.

Derivative_Financial_Instrumen6

Derivative Financial Instruments (Counterparty Credit Quality With Respect To Fair Value Of OTC Derivatives Assets) (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Derivative Financial Instruments [Abstract]	'
Fair value of OTC derivatives assets, Counterparty credit quality, A- or higher	$179,090	[1]
Fair value of OTC derivatives assets, Counterparty credit quality, BBB- to BBB+	52,347	[1]
Fair value of OTC derivatives assets, Counterparty credit quality, BB+ or lower	82,789	[1]
Fair value of OTC derivatives assets, Counterparty credit quality, Unrated	69,972	[1]
Fair value of Over the Counter Derivatives Assets Counterparty credit quality	$384,198	[1],[2],[3],[4]
[1]	We utilize internal credit ratings determined by Jefferies Risk Management. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies.
[2]	At June 30, 2014, we held exchange traded derivative assets and other credit agreements with a fair value of $11.6 million, which are not included in this table.
[3]	OTC derivative assets in the table above are gross of collateral received. OTC derivative assets are recorded net of collateral received in the Consolidated Statements of Financial Condition. At June 30, 2014, cash collateral received was $143.0 million.
[4]	Derivative fair values include counterparty netting within product category.

Collateralized_Transactions_De

Collateralized Transactions (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Collateralized Transactions [Abstract]	'	'
Fair value of securities received as collateral	$22,500,000,000	$21,900,000,000
Obligation to return securities received as collateral	126,106,000	11,063,000
Securities received as collateral	$126,106,000	$11,063,000

Securitization_Activities_Acti

Securitization Activities (Activity Related To Securitizations Accounted For As Sales) (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Securitization Activities [Abstract]	'	'	'	'
Transferred assets	$1,599.70	$2,184	$3,226.60	$2,184
Proceeds on new securitizations	1,600.10	2,190.90	3,228.20	2,190.90
Net revenues	0.9	4.8	1.6	4.8
Cash flows received on retained interests	$20.40	$11.10	$28.90	$11.10

Securitization_Activities_Summ

Securitization Activities (Summary Of Retained Interests In SPEs) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
U.S. Government agency residential mortgage-backed Securities	$11,466.70	$11,518.40
U.S. Government agency commercial mortgage-backed Securities	3,655.20	5,385.60
Collateralized loan obligations	728.5	728.5
Residential Mortgage-Backed Securities [Member]	'	'
Retained Interests	254.3	281.3
Commercial Mortgage-Backed Securities [Member]	'	'
Retained Interests	100.2	96.8
Collateralized Loan Obligations Securitizations [Member]	'	'
Retained Interests	$8.60	$9

Available_For_Sale_Securities_1

Available For Sale Securities (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Mar. 31, 2013
					Inmet Mining Corporation [Member]	First Quantum Minerals Ltd [Member]
Schedule of Investments [Line Items]	'	'	'	'	'	'
Shares of common stock received	'	'	'	'	'	18,202,313
Fair value of shares received	'	'	'	'	'	$340,400,000
Net realized securities gains	11,661,000	9,500,000	17,055,000	239,391,000	227,600,000	'
Aggregate net proceeds	'	'	'	'	$391,200,000	'

Available_For_Sale_Securities_2

Available For Sale Securities (Amortized Cost, Gross Unrealized Gains And Losses And Estimated Fair Value) (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Schedule of Investments [Line Items]	'	'
Amortized Cost	$1,874,193	$2,802,764
Gross Unrealized Gains	71,565	70,953
Gross Unrealized Losses	1,278	7,574
Estimated Fair Value	1,944,480	2,866,143
U.S. Government Securities [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	945,739	1,781,052
Gross Unrealized Gains	136	226
Gross Unrealized Losses	3	12
Estimated Fair Value	945,872	1,781,266
Residential Mortgage-Backed Securities [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	574,369	570,642
Gross Unrealized Gains	11,095	9,946
Gross Unrealized Losses	843	1,426
Estimated Fair Value	584,621	579,162
Commercial Mortgage-Backed Securities [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	48,260	18,271
Gross Unrealized Gains	896	13
Gross Unrealized Losses	29	299
Estimated Fair Value	49,127	17,985
Other Asset-Backed Securities [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	222,678	183,593
Gross Unrealized Gains	926	627
Gross Unrealized Losses	395	184
Estimated Fair Value	223,209	184,036
All Other Corporates [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	38,041	50,933
Gross Unrealized Gains	335	267
Gross Unrealized Losses	8	37
Estimated Fair Value	38,368	51,163
Debt Securities [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	1,829,087	2,604,491
Gross Unrealized Gains	13,388	11,079
Gross Unrealized Losses	1,278	1,958
Estimated Fair Value	1,841,197	2,613,612
Common Stocks: First Quantum Minerals Ltd [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	'	154,281
Gross Unrealized Losses	'	5,616
Estimated Fair Value	'	148,665
Common Stocks: Banks, Trusts And Insurance Companies [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	22,842	22,980
Gross Unrealized Gains	29,222	27,562
Estimated Fair Value	52,064	50,542
Common Stocks: Industrial, Miscellaneous And All Other [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	22,264	21,012
Gross Unrealized Gains	28,955	32,312
Estimated Fair Value	51,219	53,324
Corporate Equity Securities [Member]	'	'
Schedule of Investments [Line Items]	'	'
Amortized Cost	45,106	198,273
Gross Unrealized Gains	58,177	59,874
Gross Unrealized Losses	'	5,616
Estimated Fair Value	$103,283	$252,531

Available_For_Sale_Securities_3

Available For Sale Securities (Amortized Cost And Estimated Fair Value Of Investments Classified As Available For Sale By Contractual Maturity) (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Available For Sale Securities [Abstract]	'
Due within one year, Amortized Cost	$962,776
Due after one year through five years, Amortized Cost	21,004
Fixed maturities investments excluding mortgage-backed and asset-backed securities, amortized cost	983,780
Mortgage-backed and asset-backed securities, Amortized Cost	845,307
Total fixed maturities investments, Amortized Cost	1,829,087
Due within one year, Estimated Fair Value	962,973
Due after one year through five years, Estimated Fair Value	21,267
Fixed maturities investments excluding mortgage-backed and asset-backed securities, estimated fair value	984,240
Mortgage-backed and asset-backed securities, Estimated Fair Value	856,957
Total fixed maturities investments, Estimated Fair Value	$1,841,197

Variable_Interest_Entities_Nar

Variable Interest Entities (Narrative) (Details) (USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
SBI USA Fund [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Commitment funded	$58.80	$47
Carrying amount of equity investment	43.9	39.2
Maximum amount committed to invest as per agreement	75	75
JEP IV [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Carrying amount of equity investment	$1.30	$1.60

Variable_Interest_Entities_Ass

Variable Interest Entities (Assets And Liabilities Of Consolidated VIEs) (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
Variable Interest Entity [Line Items]	'		'
Cash	$4,186,725,000		$3,907,595,000
Financial instruments owned	19,887,345,000		19,565,685,000
Securities purchased under agreement to resell	4,609,422,000		3,746,920,000
Other	1,828,995,000		1,651,073,000
Total	51,407,735,000		47,866,781,000
Other secured financings	240,288,000		234,711,000
Total liabilities	40,679,217,000		37,327,653,000
Securitization Vehicles [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Financial instruments owned	'		97,500,000
Securities purchased under agreement to resell	220,000,000	[1]	195,100,000	[1]
Other	'		2,300,000
Total	220,000,000		294,900,000
Other secured financings	220,000,000	[2]	292,500,000	[2]
Other	'		2,100,000
Total liabilities	220,000,000		294,600,000
Jefferies [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Secured financings eliminated in consolidation	'		$66,500,000
[1]	Securities purchased under agreement to resell represent an amount due under a collateralized transaction on a related consolidated entity, which is eliminated in consolidation.
[2]	Approximately $66.5 million of the secured financing represents an amount held by Jefferies in inventory and eliminated in consolidation at December 31, 2013.

Variable_Interest_Entities_Non

Variable Interest Entities (Non-Consolidated Variable Interest Entities) (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Millions, unless otherwise specified
Variable Interest Entity [Line Items]	'		'
Total Financial Statement Carrying Amount, Assets	$2,038.60		$2,122.30
Total Financial Statement Carrying Amount, Liabilities	0.3		0.2
Total Maximum exposure to loss in non-consolidated VIEs	2,558.90		2,227.20
Total VIE Assets	235,514.40		85,594
Collateralized Loan Obligations [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total Financial Statement Carrying Amount, Assets	174.1	[1]	11.9	[1]
Total Financial Statement Carrying Amount, Liabilities	0.3	[1]	0.2	[1]
Total Maximum exposure to loss in non-consolidated VIEs	678.2	[1]	88.8	[1]
Total VIE Assets	3,564.60	[1]	1,122.30	[1]
Agency Mortgage- And Asset-Backed Securitizations [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total Financial Statement Carrying Amount, Assets	859.4	[2],[3]	1,226	[2],[3]
Total Maximum exposure to loss in non-consolidated VIEs	859.4	[2],[3],[4]	1,226	[2],[3],[4]
Total VIE Assets	13,570.60	[2],[3]	5,857.30	[2],[3]
Non-Agency Mortgage- And Asset-Backed Securitizations [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total Financial Statement Carrying Amount, Assets	956.3	[2],[3]	840.1	[2],[3]
Total Maximum exposure to loss in non-consolidated VIEs	956.3	[2],[3],[4]	840.1	[2],[3],[4]
Total VIE Assets	217,889.80	[2],[3]	78,070.80	[2],[3]
Asset Management Vehicle [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total Financial Statement Carrying Amount, Assets	3.6	[5]	3.5	[5]
Total Maximum exposure to loss in non-consolidated VIEs	3.6	[4],[5]	3.5	[4],[5]
Total VIE Assets	394.6	[5]	454.2	[5]
Private Equity Vehicles [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total Financial Statement Carrying Amount, Assets	45.2	[5]	40.8	[5]
Total Maximum exposure to loss in non-consolidated VIEs	61.4	[5]	68.8	[5]
Total VIE Assets	$94.80	[5]	$89.40	[5]
[1]	Assets consist of debt securities and participation interests in corporate loans accounted for at fair value, which are included within Trading assets. Liabilities consist of forward sale agreements and a guarantee provided to a CLO managed by Jefferies Finance, which are accounted for at fair value and included within Trading liabilities.
[2]	VIE assets represent the unpaid principal balance of the assets in these vehicles at June 30, 2014 and December 31, 2013 and represent the underlying assets that provide the cash flows supporting our variable interests.
[3]	Assets consist of debt securities accounted for at fair value, which are included within Trading assets.
[4]	Our maximum exposure to loss in these non-consolidated VIEs is limited to our investment, which is represented by the financial statement carrying amount of our purchased or retained interests.
[5]	Assets consist of equity interests, which are included within Investments in managed funds.

Loans_To_And_Investments_In_As2

Loans To And Investments In Associated Companies (Jefferies Finance) (Narrative) (Details) (Jefferies Finance [Member], USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Jefferies Finance [Member]	'	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'	'
Equity commitment	$600	'	$600	'	'
Total line of credit facility commitment under joint venture	700	'	700	'	'
Funded portion of line of credit commitment	0	'	0	'	123.8
Line of credit facility commitment of Jefferies	350	'	350	'	350
Funded Equity Commitments	331.1	'	331.1	'	'
Termination notice	'60 days	'	'60 days	'	'
Receivables	14.2	'	14.2	'	31.1
Net underwriting fees	38.8	35.2	86.4	35.2	'
Service fees	7	5.4	28.7	5.4	'
Origination fees	$3.40	$6.20	$7.70	$6.20	'

Loans_To_And_Investments_In_As3

Loans To And Investments In Associated Companies (Jefferies LoanCore) (Narrative) (Details) (Jefferies LoanCore [Member], USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Jefferies LoanCore [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Aggregate equity commitment	$600	$600
Equity commitment	291	291
Funded Equity Commitments	$108.10	$175.50
Percentage of voting interest	48.50%	48.50%

Loans_To_And_Investments_In_As4

Loans To And Investments In Associated Companies (Berkadia) (Narrative) (Details) (USD $)	3 Months Ended	1 Months Ended	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2009	Jun. 30, 2014	Jun. 30, 2014
		Berkadia [Member]	Berkadia [Member]	Berkadia [Member]
				Inception To Date [Member]
Investments In Associated Companies [Line Items]	'	'	'	'
Percentage of ownership owned	'	'	50.00%	'
Capital contributed	'	$217,200,000	'	'
Distributions received	'	'	'	249,200,000
Surety policy issued	'	'	2,500,000,000	'
Reimbursement of losses incurred, maximum percentage	'	'	50.00%	'
Commercial paper	'	'	2,470,000,000	'
Prior period income adjustment	$14,800,000	'	'	'

Loans_To_And_Investments_In_As5

Loans To And Investments In Associated Companies (Linkem) (Narrative) (Details) (Linkem [Member])	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014
	USD ($)	EUR (€)
Investments In Associated Companies [Line Items]	'	'
Percentage of ownership owned	40.20%	'
Cash consideration	$138.40	'
Interest rate on convertible notes	5.00%	'
Payments to acquire convertible notes	81.2	'
Convertible notes principal amount	'	€ 58.90
Percentage of ownership upon conversion of note	53.00%	'
Excess investment amortization period, years	'12 years	'

Loans_To_And_Investments_In_As6

Loans To And Investments In Associated Companies (HomeFed) (Narrative) (Details) (USD $)	1 Months Ended	6 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2014
HomeFed Corporation [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Shares of common stock owned	'	9,460,563
Percentage of ownership owned	'	64.00%
Cash paid on acquisition of common shares	$12.50	'
Common shares acquired	6,986,337	'
Additional common shares expected to be acquired	513,663	'
Maximum voting rights as a percentage of total voting securities voting	'	45.00%
Share Price, fair value	$28.76	'
Deferred gain on sale	$27.10	'
Company Chairman [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Ownership percentage of company	'	5.00%

Loans_To_And_Investments_In_As7

Loans To And Investments In Associated Companies (Schedule Of Investments In Associated Companies) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments In Associated Companies [Line Items]	'	'
Equity method investments	$1,295,866	$1,258,341
Jefferies Finance [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	343,464	470,537
Jefferies LoanCore [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	158,071	224,037
Berkadia [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	203,133	182,573
Garcadia [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	126,378	120,017
HomeFed Corporation [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	254,035	52,923
Linkem [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	162,131	173,577
Other [Member]	'	'
Investments In Associated Companies [Line Items]	'	'
Equity method investments	$48,654	$34,677

Loans_To_And_Investments_In_As8

Loans To And Investments In Associated Companies (Schedule Of Income (Losses) Related To Associated Companies) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	$35,345	$34,863	$55,381	$65,671
Berkadia [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	24,388	30,844	38,361	49,431
Garcadia [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	14,043	11,244	25,302	20,115
HomeFed Corporation [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	795	-355	177	-596
Linkem [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	-4,723	-6,920	-10,559	-13,522
JHYH [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	'	'	'	7,178
Other [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies before income taxes	$842	$50	$2,100	$3,065

Loans_To_And_Investments_In_As9

Loans To And Investments In Associated Companies (Schedule Of Income (Losses) Related To Associated Companies Classified As Other Revenue) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies classified as Other revenue	$17,265	$28,540	$37,892	$28,540
Jefferies Finance [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies classified as Other revenue	14,673	11,969	32,274	11,969
Jefferies LoanCore [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies classified as Other revenue	3,400	16,723	5,882	16,723
Other [Member]	'	'	'	'
Investments In Associated Companies [Line Items]	'	'	'	'
Income (losses) related to associated companies classified as Other revenue	($808)	($152)	($264)	($152)

Financial_Statement_Offsetting2

Financial Statement Offsetting (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
Financial Statement Offsetting [Abstract]	'		'
Derivative contracts, Gross Amounts	$2,901,691,000		$2,514,683,000
Derivative contracts, Netting in Consolidated Statement of Financial Condition	-2,648,507,000		-2,253,589,000
Derivative contracts, Net Amounts in Consolidated Statement of Financial Condition	253,184,000		261,094,000
Derivative contracts, Net Amount	253,184,000	[1]	261,094,000	[1]
Securities borrowing arrangements, Gross Amounts	6,097,098,000		5,359,846,000
Securities borrowing arrangements, Net Amounts in Consolidated Statement of Financial Condition	6,097,098,000		5,359,846,000
Securities borrowing arrangements, Additional Amounts Available for Setoff	-807,137,000	[2]	-530,293,000	[2]
Securities borrowing arrangements, Available Collateral	-877,639,000	[3]	-957,140,000	[3]
Securities borrowing arrangements, Net Amount	4,412,322,000	[1]	3,872,413,000	[1]
Reverse repurchase agreements, Gross Amounts	11,402,865,000		12,715,449,000
Reverse repurchase agreements, Netting in Consolidated Statement of Financial Condition	-6,793,443,000		-8,968,529,000
Reverse repurchase agreements, Net Amounts in Consolidated Statement of Financial Condition	4,609,422,000		3,746,920,000
Reverse repurchase agreements, Additional Amounts Available for Setoff	-230,295,000	[2]	-590,754,000	[2]
Reverse repurchase agreements, Available Collateral	-4,355,647,000	[3]	-3,074,540,000	[3]
Reverse repurchase agreements, Net Amount	23,480,000	[1]	81,626,000	[1]
Derivative contracts, Gross Amounts	2,973,365,000		2,532,690,000
Derivative contracts, Netting in Consolidated Statement of Financial Condition	-2,747,077,000		-2,352,611,000
Derivative contracts, Net Amounts in Consolidated Statement of Financial Condition	226,288,000		180,079,000
Derivative contracts, Net Amount	226,288,000	[1]	180,079,000	[1]
Securities lending arrangements, Gross Amounts	2,901,159,000		2,506,122,000
Securities lending arrangements, Net Amounts in Consolidated Statement of Financial Condition	2,901,159,000		2,506,122,000
Securities lending arrangements, Additional Amounts Available for Setoff	-807,137,000	[2]	-530,293,000	[2]
Securities lending arrangements, Available Collateral	-2,063,606,000	[3]	-1,942,271,000	[3]
Securities lending arrangements, Net Amount	30,416,000	[1]	33,558,000	[1]
Repurchase agreements, Gross Amounts	18,461,573,000		19,748,374,000
Repurchase agreements, Netting in Consolidated Statement of Financial Condition	-6,793,443,000		-8,968,529,000
Repurchase agreements, Net Amounts in Consolidated Statement of Financial Condition	11,668,130,000		10,779,845,000
Repurchase agreements, Additional Amounts Available for Setoff	-230,295,000	[2]	-590,754,000	[2]
Repurchase agreements, Available Collateral	-10,996,643,000	[3]	-8,748,641,000	[3]
Repurchase agreements, Net Amount	441,192,000	[1]	1,440,450,000	[1]
Securities borrowing arrangements, Net Amount, Subject to Review	4,358,700,000		3,818,400,000
Securities borrowing arrangements, Collateral Received, Subject to Review	4,242,400,000		3,721,800,000
Repurchase agreements, Net Amount, Subject to Review	431,000,000		1,410,000,000
Repurchase agreements, Collateral Pledged, Subject to Review	$448,400,000		$1,438,900,000
[1]	At June 30, 2014, amounts include $4,358.7 million of securities borrowing arrangements, for which we have received securities collateral of $4,242.4 million, and $431.0 million of repurchase agreements, for which we have pledged securities collateral of $448.4 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable. At December 31, 2013, amounts include $3,818.4 million of securities borrowing arrangements, for which we have received securities collateral of $3,721.8 million, and $1,410.0 million of repurchase agreements, for which we have pledged securities collateral of $1,438.9 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable.
[2]	Under master netting agreements with our counterparties, we have the legal right of offset with a counterparty, which incorporates all of the counterparty's outstanding rights and obligations under the arrangement. These balances reflect additional credit risk mitigation that is available by counterparty in the event of a counterparty's default, but which are not netted in the balance sheet because other netting provisions of U.S. GAAP are not met. Further, for derivative assets and liabilities, amounts netted include cash collateral paid or received.
[3]	Includes securities received or paid under collateral arrangements with counterparties that could be liquidated in the event of a counterparty default and thus offset against a counterparty's rights and obligations under the respective repurchase agreements or securities borrowing or lending arrangements.

Intangible_Assets_Net_And_Good2

Intangible Assets, Net And Goodwill (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended			3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Feb. 28, 2013	Mar. 31, 2014
						Conwed Plastics [Member]
Intangible Assets [Line Items]	'	'	'	'	'	'
Business acquisition, intangibles	'	'	'	'	$282,852,000	$11,100,000
Amortization Years	'	'	'	'	'	'10 years
Amortization expense on intangible assets	16,700,000	19,900,000	33,300,000	33,200,000	'	'
Future amortization expense, 2014	33,400,000	'	33,400,000	'	'	'
Future amortization expense, 2015	63,900,000	'	63,900,000	'	'	'
Future amortization expense, 2016	61,900,000	'	61,900,000	'	'	'
Future amortization expense, 2017	61,700,000	'	61,700,000	'	'	'
Future amortization expense, 2018	$61,500,000	'	$61,500,000	'	'	'

Intangible_Assets_Net_And_Good3

Intangible Assets, Net And Goodwill (Schedule Of Intangible Assets, Net) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Intangible Assets [Line Items]	'	'
Intangible assets, net (excluding goodwill)	$999,240	$1,020,529
Exchange And Clearing Organization Membership Interests And Registrations [Member]	'	'
Intangible Assets [Line Items]	'	'
Indefinite lived intangibles	14,979	14,916
Customer And Other Relationships [Member]	'	'
Intangible Assets [Line Items]	'	'
Intangible assets, net (excluding goodwill)	494,339	502,409
Intangibles, accumulated amortization	136,746	117,139
Trademarks And Tradename [Member]	'	'
Intangible Assets [Line Items]	'	'
Intangible assets, net (excluding goodwill)	356,739	364,779
Intangibles, accumulated amortization	38,750	30,213
Supply Contracts [Member]	'	'
Intangible Assets [Line Items]	'	'
Intangible assets, net (excluding goodwill)	124,694	129,833
Intangibles, accumulated amortization	25,301	20,162
Licenses [Member]	'	'
Intangible Assets [Line Items]	'	'
Intangible assets, net (excluding goodwill)	7,634	7,928
Intangibles, accumulated amortization	4,288	4,100
Other Intangible Assets [Member]	'	'
Intangible Assets [Line Items]	'	'
Intangible assets, net (excluding goodwill)	855	664
Intangibles, accumulated amortization	$4,548	$4,500

Intangible_Assets_Net_And_Good4

Intangible Assets, Net And Goodwill (Summary Of Goodwill) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Feb. 28, 2013
In Thousands, unless otherwise specified
Goodwill	$1,750,870	$1,748,099	$1,722,591
Other Operations [Member]	'	'	'
Goodwill	8,551	8,551	'
National Beef [Member]	'	'	'
Goodwill	14,991	14,991	'
Jefferies [Member]	'	'	'
Goodwill	$1,727,328	$1,724,557	$1,722,591

Inventory_Details

Inventory (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory [Abstract]	'	'
Finished goods	$314,490	$273,291
Work in process	37,079	34,701
Raw materials, supplies and other	34,856	56,334
Inventory, net	$386,425	$364,326

ShortTerm_Borrowings_Details

Short-Term Borrowings (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Short-Term Borrowings [Abstract]	'	'
Short-term borrowings	$12	$12

LongTerm_Debt_Narrative_Detail

Long-Term Debt (Narrative) (Details) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Apr. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Aug. 26, 2011

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

National Beef [Member]

3.875% Convertible Senior Debentures, due November 1, 2029 [Member]

3.875% Convertible Senior Debentures, due November 1, 2029 [Member]

Revolving Credit Facility [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

Jefferies Senior Secured Revolving Credit Facility [Member]

Jefferies Senior Secured Revolving Credit Facility [Member]

Term Loan [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

National Beef [Member]

National Beef [Member]

Revolving Credit Facility And Term Loan [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility And Term Loan [Member]

National Beef [Member]

National Beef [Member]

National Beef [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate

'

'

3.88%

3.88%

3.60%

'

3.75%

'

'

2.90%

'

'

'

Shares issuable upon conversion per $1000 debenture

'

'

22.0775

'

'

'

'

'

'

'

'

'

'

Incremental principal amount of notes

'

'

$1,000

'

'

'

'

'

'

'

'

'

'

Conversion price per common share for convertible notes

'

'

$45.29

'

'

'

'

'

'

'

'

'

'

Contingent interest rate percent

'

'

0.38%

'

'

'

'

'

'

'

'

'

'

Trading period for contingent interest

'

'

'5 days

'

'

'

'

'

'

'

'

'

'

Minimum average trading price for 5 trading days per $1,000 debenture

'

'

$1,200

'

'

'

'

'

'

'

'

'

'

Common stock price as a percent of conversion price minimum

'

'

130.00%

'

'

'

'

'

'

'

'

'

'

Earliest period of conversion price

'

'

'20 days

'

'

'

'

'

'

'

'

'

'

Consecutive trading days

'

'

'10 days

'

'

'

'

'

'

'

'

'

'

Consecutive trading days

'

'

'30 days

'

'

'

'

'

'

'

'

'

'

Trading price per debenture related to common stock, maximum

'

'

95.00%

'

'

'

'

'

'

'

'

'

'

Credit facility Term Loan, Maximum amount

'

'

'

'

$300,000,000

'

'

$750,000,000

$950,000,000

$375,000,000

'

'

'

Available unsecured credit facility with no borrowing base

'

'

'

'

'

'

'

250,000,000

'

'

'

'

'

Debt Instrument Maturity Date

'

'

1-Nov-29

1-Nov-29

'

'

15-Apr-14

'

'

'

'

'

'

Percentage added to base rate or LIBOR rate

'

'

'

'

'

'

'

'

'

'

0.75%

'

2.50%

Aggregate outstanding letters of credit

27,500,000

25,300,000

'

'

'

'

'

'

'

'

'

'

'

Amount of revolver available

'

'

'

'

'

'

'

'

'

'

'

$168,400,000

'

Shares converted

'

'

'

'

'

4,606,109

'

'

'

'

'

'

'

LongTerm_Debt_Schedule_Of_Inde

Long-Term Debt (Schedule Of Indebtedness) (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'
Long-term debt	$8,798,056	$8,180,865
8.125% Senior Notes Due September 15, 2015 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	457,106	456,515
Interest rate	8.13%	8.13%
Maturity date	15-Sep-15	15-Sep-15
Principal	458,641	458,641
5.50% Senior Notes due October 18, 2023 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	740,349	739,960
Interest rate	5.50%	5.50%
Maturity date	18-Oct-23	18-Oct-23
Principal	750,000	750,000
6.625% Senior Notes due October 23, 2043 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	246,975	246,958
Interest rate	6.63%	6.63%
Maturity date	23-Oct-43	23-Oct-43
Principal	250,000	250,000
3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	'	97,581
Interest rate	'	3.75%
Maturity date	'	15-Apr-14
Principal	0	97,581
5.875% Senior Notes, due June 8, 2014 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	250,243	255,676
Interest rate	5.88%	5.88%
Maturity date	8-Jun-14	8-Jun-14
Principal	250,000	250,000
3.875% Senior Notes, due November 9, 2015 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	512,096	516,204
Interest rate	3.88%	3.88%
Maturity date	9-Nov-15	9-Nov-15
Principal	500,000	500,000
5.5% Senior Notes, due March 15, 2016 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	368,235	373,178
Interest rate	5.50%	5.50%
Maturity date	15-Mar-16	15-Mar-16
Principal	350,000	350,000
5.125% Senior Notes, due April 13, 2018 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	848,235	854,011
Interest rate	5.13%	5.13%
Maturity date	13-Apr-18	13-Apr-18
Principal	800,000	800,000
8.5% Senior Notes, due July 15, 2019 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	845,739	858,425
Interest rate	8.50%	8.50%
Maturity date	15-Jul-19	15-Jul-19
Principal	700,000	700,000
2.375% Euro Senior Notes, due May 20, 2020 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	679,951	'
Interest rate	2.38%	'
Maturity date	20-May-20	'
Principal	681,675	'
6.875% Senior Notes, due April 15, 2021 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	860,021	866,801
Interest rate	6.88%	6.88%
Maturity date	15-Apr-21	15-Apr-21
Principal	750,000	750,000
2.25% Euro Medium Term Notes, due July 13, 2022 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	4,762	4,792
Interest rate	2.25%	2.25%
Maturity date	13-Jul-22	13-Jul-22
Principal	5,283	5,283
5.125% Senior Notes, due January 20, 2023 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	624,482	625,626
Interest rate	5.13%	5.13%
Maturity date	20-Jan-23	20-Jan-23
Principal	600,000	600,000
6.45% Senior Debentures, due June 8, 2027 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	382,381	383,224
Interest rate	6.45%	6.45%
Maturity date	8-Jun-27	8-Jun-27
Principal	350,000	350,000
3.875% Convertible Senior Debentures, due November 1, 2029 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	349,142	349,707
Interest rate	3.88%	3.88%
Maturity date	1-Nov-29	1-Nov-29
Principal	345,000	345,000
6.25% Senior Debentures, due January 15, 2036 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	513,197	513,343
Interest rate	6.25%	6.25%
Maturity date	15-Jan-36	15-Jan-36
Principal	500,000	500,000
6.50% Senior Notes, due January 20, 2043 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	422,105	422,245
Interest rate	6.50%	6.50%
Maturity date	20-Jan-43	20-Jan-43
Principal	400,000	400,000
Secured credit facility, due August 26, 2014 [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	65,000	200,000
Maturity date	26-Aug-14	26-Aug-14
Other [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	159,207	41,619
National Beef [Member] | Revolving Credit Facility [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	106,330	'
Interest rate	3.60%	'
National Beef [Member] | Term Loan [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	362,500	375,000
Interest rate	2.90%	'
Parent Company [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	1,444,430	1,541,014
Subsidiary [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	$7,353,626	$6,639,851

Mezzanine_Equity_Narrative_Det

Mezzanine Equity (Narrative) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
In Thousands, except Share data, unless otherwise specified			Jefferies [Member]	Jefferies [Member]	Conwed Plastics [Member]	National Beef [Member]	National Beef [Member]	National Beef [Member]	USPB [Member]	Other Members [Member]
						December 30, 2016 [Member]	December 30, 2018 [Member]	December 30, 2021 [Member]	Maximum [Member]	Maximum [Member]
						Put Rights [Member]	Put Rights [Member]	Put Rights [Member]	Call Rights [Member]	Call Rights [Member]
Purchase Requirement [Line Items]	'	'	'	'	'	'	'	'	'	'
Ownership interest	'	'	'	'	'	'	'	'	20.00%	50.00%
Put right interest percentage	'	'	'	'	'	33.30%	33.30%	33.30%	'	'
Anniversary of acquisition	'	'	'	'	'	'	'	'	'	'10 years
Fair value discount rate	11.69%	'	'	'	'	'	'	'	'	'
Terminal growth rate	2.00%	'	'	'	'	'	'	'	'	'
Mandatorily redeemable convertible preferred shares redemption value	$125,000	$125,000	$125,000	$125,000	'	'	'	'	'	'
Dividend rate on preferred stock	'	'	3.25%	3.25%	'	'	'	'	'	'
Mandatorily redeemable preferred shares callable price per share	'	'	$1,000	'	'	'	'	'	'	'
Mandatory redeemable preferred stock, effective conversion price per share	'	'	$30.03	'	'	'	'	'	'	'
Mandatory redeemable preferred stock, number of shares in conversion	'	'	4,162,200	'	'	'	'	'	'	'
Redeemable noncontrolling interests	$239,794	$241,075	'	'	$2,400	'	'	'	'	'

Mezzanine_Equity_Schedule_Of_R

Mezzanine Equity (Schedule Of Redeemable Noncontrolling Interests) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
As of January 1,	'	'	$241,075	'
Income (loss) allocated to redeemable noncontrolling interests	1,273	5,638	-4,659	1,107
Net distributions to redeemable noncontrolling interests	'	'	'	-6,682
Increase (decrease) in fair value of redeemable noncontrolling interests charged to additional paid-in capital	'	'	1,013	-22,434
Balance, June 30,	239,794	'	239,794	'
National Beef [Member]	'	'	'	'
As of January 1,	'	'	241,075	241,649
Income (loss) allocated to redeemable noncontrolling interests	'	'	-4,649	1,107
Net distributions to redeemable noncontrolling interests	'	'	'	-6,682
Increase (decrease) in fair value of redeemable noncontrolling interests charged to additional paid-in capital	'	'	1,013	-22,434
Balance, June 30,	$237,439	$213,640	$237,439	$213,640

Mezzanine_Equity_Sensitivity_A

Mezzanine Equity (Sensitivity Analysis Of Fair Value Of Redeemable Noncontrolling Interests Using Discount And Terminal Growth Rates) (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Discount rate assumed in determining fair value	11.69%
Terminal growth rate assumed in determining fair value	2.00%
Rate 11.44% Discount Rate [Member] | Rate 1.75% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	242.5
Discount rate assumed in determining fair value	11.44%
Terminal growth rate assumed in determining fair value	1.75%
Rate 11.44% Discount Rate [Member] | Rate 2.00% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	246.2
Discount rate assumed in determining fair value	11.44%
Terminal growth rate assumed in determining fair value	2.00%
Rate 11.44% Discount Rate [Member] | Rate 2.25% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	250.2
Discount rate assumed in determining fair value	11.44%
Terminal growth rate assumed in determining fair value	2.25%
Rate 11.69% Discount Rate [Member] | Rate 1.75% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	234
Discount rate assumed in determining fair value	11.69%
Terminal growth rate assumed in determining fair value	1.75%
Rate 11.69% Discount Rate [Member] | Rate 2.00% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	237.4
Discount rate assumed in determining fair value	11.69%
Terminal growth rate assumed in determining fair value	2.00%
Rate 11.69% Discount Rate [Member] | Rate 2.25% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	241.1
Discount rate assumed in determining fair value	11.69%
Terminal growth rate assumed in determining fair value	2.25%
Rate 11.94% Discount Rate [Member] | Rate 1.75% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	225.8
Discount rate assumed in determining fair value	11.94%
Terminal growth rate assumed in determining fair value	1.75%
Rate 11.94% Discount Rate [Member] | Rate 2.00% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	229.1
Discount rate assumed in determining fair value	11.94%
Terminal growth rate assumed in determining fair value	2.00%
Rate 11.94% Discount Rate [Member] | Rate 2.25% Terminal Growth Rates [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Fair value of redeemable noncontrolling interests	232.5
Discount rate assumed in determining fair value	11.94%
Terminal growth rate assumed in determining fair value	2.25%

Common_Shares_Compensation_Pla1

Common Shares, Compensation Plans And Preferred Shares (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Common Shares, Compensation Plans And Preferred Shares [Line Items]	'	'	'	'	'
Share-based compensation	$24,600,000	$30,600,000	$62,778,000	$32,443,000	'
Shares reserved for stock options and warrants	7,117,322	'	7,117,322	'	7,124,429
Total unrecognized compensation cost related to nonvested share-based awards	141,700,000	'	141,700,000	'	'
Employee service share-based compensation, unrecognized compensation costs on nonvested awards, weighted average period of recognition	'	'	'2 years 2 months 12 days	'	'
Potential maximum increase to common shares outstanding from restricted stock and other shares	13,741,760	'	13,741,760	'	'
Tax benefit in results of operations for issuance of share-based awards	$8,900,000	$11,100,000	$22,900,000	$11,600,000	'
Other Shares Issuable [Member]	'	'	'	'	'
Common Shares, Compensation Plans And Preferred Shares [Line Items]	'	'	'	'	'
Other shares issuable	910,635	'	910,635	'	'
Restricted Stock [Member]	'	'	'	'	'
Common Shares, Compensation Plans And Preferred Shares [Line Items]	'	'	'	'	'
Restricted shares, Outstanding	4,626,736	'	4,626,736	'	'
Future Service Required [Member] | Restricted Stock Units [Member]	'	'	'	'	'
Common Shares, Compensation Plans And Preferred Shares [Line Items]	'	'	'	'	'
Restricted shares, Outstanding	4,402,551	'	4,402,551	'	'
No Future Service Required [Member] | Restricted Stock Units [Member]	'	'	'	'	'
Common Shares, Compensation Plans And Preferred Shares [Line Items]	'	'	'	'	'
Restricted shares, Outstanding	8,428,574	'	8,428,574	'	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Summary Of Accumulated Other Comprehensive Income, Net Of Taxes) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Accumulated other comprehensive income, net	$561,305	$538,050
Net Unrealized Gains (Losses) On Available For Sale Securities [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Accumulated other comprehensive income, net	594,926	589,393
Net Unrealized Foreign Exchange Gains [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Accumulated other comprehensive income, net	33,343	16,803
Net Unrealized Losses On Derivative Instruments [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Accumulated other comprehensive income, net	-507	-169
Net Minimum Pension Liability [Member] | Accumulated Defined Benefit Adjustment [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Accumulated other comprehensive income, net	($66,457)	($67,977)

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income Reclassifications) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Net realized securities gains	$11,661	$9,500	$17,055	$239,391
Amortization of defined benefit pension plan actuarial gains (losses)	-760	-1,200	-1,520	-2,400
Income tax provision (benefit)	43,775	23,235	93,965	73,002
Total reclassifications for the period, net of tax	62,848	60,574	152,439	364,730
Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Total reclassifications for the period, net of tax	'	'	-4,110	208,637
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net Unrealized Gains (Losses) On Available For Sale Securities [Member]	'	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Net realized securities gains	'	'	-2,590	211,037
Income tax provision (benefit)	'	'	-1,438	117,170
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Adjustment [Member]	'	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Amortization of defined benefit pension plan actuarial gains (losses)	'	'	-1,520	-2,400
Income tax provision (benefit)	'	'	($844)	($1,332)

Pension_Plans_And_Postretireme2

Pension Plans And Postretirement Benefits (Narrative) (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2013
Pension Plans And Postretirement Benefits [Abstract]	'
Defined benefit plan, contributions by employer	$0

Pension_Plans_And_Postretireme3

Pension Plans And Postretirement Benefits (Components Of Pension Expense) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pension Plans And Postretirement Benefits [Abstract]	'	'	'	'
Service cost	$11	$72	$22	$72
Interest cost	3,774	3,382	7,548	5,993
Expected return on plan assets	-2,537	-2,606	-5,073	-4,532
Actuarial losses	1,209	1,909	2,417	3,775
Net pension expense	$2,457	$2,757	$4,914	$5,308

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Taxes [Line Items]	'	'	'	'
Expected decrease in unrecognized tax benefit related to uncertain tax position over next 12 months	'	'	$3.60	'
Impact on the tax provision related to the fair value option due to acquisition	'	'	'	65.2
Reversal of deferred tax liabilities	'	'	'	34
State and foreign income taxes	'	31.5	'	42
Adjustment to write off of a portion of deferred tax asset for state income taxes	'	'	'	12.3
State income taxes	24.7	'	39.8	'
Foreign income taxes	4.7	'	10.7	'
Unrecognized tax benefits	187.6	'	187.6	'
Interest included in unrecognized tax benefits	32	'	32	'
Jefferies [Member]	'	'	'	'
Income Taxes [Line Items]	'	'	'	'
Unrecognized tax benefits	$162.50	'	$162.50	'

Earnings_Loss_Per_Common_Share2

Earnings (Loss) Per Common Share (Narrative) (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Warrants [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Employee Stock Option [Member]

Employee Stock Option [Member]

Employee Stock Option [Member]

Employee Stock Option [Member]

Redeemable Convertible Preferred Shares [Member]

Redeemable Convertible Preferred Shares [Member]

Redeemable Convertible Preferred Shares [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

3.875% Convertible Senior Debentures, due November 1, 2029 [Member]

3.875% Convertible Senior Debentures, due November 1, 2029 [Member]

Earnings Per Share [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Securities excluded from computation of earnings per share amount

4,000,000

4,000,000

4,000,000

4,000,000

1,581,700

825,400

773,000

1,748,600

4,162,200

4,162,200

4,162,200

4,557,339

'

'

'

Exercise price

$33.33

$33.33

$33.33

$33.33

'

'

'

'

'

'

'

'

'

'

'

Convertible notes interest rate

'

'

'

'

'

'

'

'

'

'

'

'

3.75%

3.88%

3.88%

Earnings_Loss_Per_Common_Share3

Earnings (Loss) Per Common Share (Earnings Per Share Computation) (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

3.875% Convertible Senior Debentures, due November 1, 2029 [Member]

3.875% Convertible Senior Debentures, due November 1, 2029 [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

3.75% Convertible Senior Subordinated Notes Due April 15, 2014 [Member]

Earnings Per Share [Line Items]

'

'

'

'

'

'

'

'

'

'

Net income attributable to Leucadia National Corporation common shareholders

$65,074,000

$52,612,000

$159,390,000

$357,715,000

'

'

'

'

'

'

Less: Allocation of earnings to participating securities

-1,557,000

[1]

-1,597,000

[1]

-3,927,000

[1]

-4,200,000

[1]

'

'

'

'

'

'

Net income attributable to Leucadia National Corporation common shareholders for basic earnings (loss) per share

63,517,000

51,015,000

155,463,000

353,515,000

'

'

'

'

'

'

Less: Adjustment to allocation of earnings to participating securities related to diluted shares

-12,000

[1]

-29,000

[1]

-19,000

[1]

-2,000

[1]

'

'

'

'

'

'

Mandatorily redeemable convertible preferred share dividends

'

'

'

1,354,000

'

'

'

'

'

'

Interest on 3.75% Convertible Notes

99,000

'

739,000

1,316,000

'

'

'

'

'

'

Net income attributable to Leucadia National Corporation common shareholders for diluted earnings (loss) per share

63,604,000

50,986,000

156,183,000

356,183,000

'

'

'

'

'

'

Denominator for basic earnings (loss) per share - weighted average shares

371,979,000

367,752,000

370,506,000

315,375,000

'

'

'

'

'

'

Stock options

48,000

85,000

68,000

44,000

'

'

'

'

'

'

Warrants

'

'

'

'

'

'

'

'

'

'

Mandatorily redeemable convertible preferred shares

'

'

'

2,775,000

'

'

'

'

'

'

Convertible Debenture/Notes

'

'

'

'

'

'

1,152,000

2,627,000

4,503,000

'

Denominator for diluted earnings (loss) per share

373,179,000

367,837,000

373,201,000

322,697,000

'

'

'

'

'

'

Convertible notes interest rate

'

'

'

'

3.88%

3.88%

'

'

'

3.75%

Weighted average shares of participating securities

9,164,900

11,375,200

9,433,100

7,763,100

'

'

'

'

'

'

Dividends declared on participating securities

$600,000

$700,000

$1,100,000

$1,500,000

'

'

'

'

'

'

[1]

Represents dividends declared during the period on participating securities plus an allocation of undistributed earnings to participating securities. Net losses are not allocated to participating securities. Participating securities represent restricted stock and RSUs for which requisite service has not yet been rendered and amounted to weighted average shares of 9,164,900 and 11,375,200 for the three months ended June 30, 2014 and 2013, respectively, 9,433,100 and 7,763,100 for the six months ended June 30, 2014 and 2013, respectively. Dividends declared on participating securities were $.6 million and $.7 million during the three months ended June 30, 2014 and 2013, respectively, and $1.1 million and $1.5 million during the six months ended June 30, 2014 and 2013, respectively.

Commitments_Contingencies_And_1

Commitments, Contingencies And Guarantees (Narrative) (Details) (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2014		Dec. 31, 2013
	lawsuit
	plaintiff
Commitments Contingencies And Guarantees [Line Items]	'		'
Purchase commitments	$433,100,000		$300,000,000
Loan commitments outstanding to clients	378,100,000		'
Corporate lending commitments	728,100,000	[1]	'
Fair value of mortgage-related commitments	67,200,000		'
Fair value of derivative contracts meeting the definition of a guarantee	110,700,000		'
Amount accrued for estimated probable losses in connection with litigation	20,000,000		'
Approximate number of plaintiffs	124,000		'
Number of class action lawsuits	7		'
Amount of debt collected to date	90,000,000		'
Letters of credit	27,500,000		'
Maximum payout	3,252,000,000		'
Unrated [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Corporate lending commitments	597,700,000	[1]	'
Jefferies Finance [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Funded equity commitments	331,100,000		'
Line of credit facility commitment of Jefferies	350,000,000		350,000,000
Jefferies Finance [Member] | Loan Guarantee [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Maximum amount payable under guarantee	21,000,000		'
Jefferies LoanCore [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Funded equity commitments	108,100,000		175,500,000
Berkadia [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Surety policy issued	2,500,000,000		'
Reimbursement of losses incurred, maximum percentage	50.00%		'
Aggregate amount of commercial paper outstanding	2,470,000,000		'
National Beef [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Letters of credit	25,300,000		'
Jefferies [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Settlement amount	25,000,000		'
Payments to trading counterparties	11,000,000		'
Fine payable to the U.S. Attorney's Office	10,000,000		'
Fine payable to the SEC	4,000,000		'
Outstanding reserve	5,100,000		'
Jefferies [Member] | Standby Letters Of Credit [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Expiration period maximum	'1 year		'
Maximum payout	31,600,000		'
Leucadia [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Maximum statutory damages sought	500,000		'
Jefferies Capital Partners LLC And Its Private Equity Funds [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Equity commitments	31,800,000		'
Other Investments [Member]	'		'
Commitments Contingencies And Guarantees [Line Items]	'		'
Equity commitments	$1,800,000		'
[1]	Amounts represent the notional amount of unfunded lending commitments.

Commitments_Contingencies_And_2

Commitments, Contingencies And Guarantees (Commitments And Contingencies) (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Commitments And Guarantee Obligations [Line Items]	'
2014	$1,166.50
2015	421.7
2016 and 2017	1,012.50
2018 and 2019	175.9
2020 and Later	475.4
Maximum Payout	3,252
Equity Commitments [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
2014	1.6	[1]
2015	7.5	[1]
2016 and 2017	0.9	[1]
2020 and Later	475.4	[1]
Maximum Payout	485.4	[1]
Loan Commitments [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
2014	10.8	[1]
2015	26.3	[1]
2016 and 2017	515.1	[1]
2018 and 2019	175.9	[1]
Maximum Payout	728.1	[1]
Mortgage-Related Commitments [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
2014	862
2015	387.9
2016 and 2017	496.5
Maximum Payout	1,746.40
Underwriting Commitments [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
2014	85.9
Maximum Payout	85.9
Forward Starting Reverse Repos And Repos [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
2014	206.2
Maximum Payout	$206.20
[1]	Equity and loan commitments are presented by contractual maturity date. The amounts are however available on demand.

Commitments_Contingencies_And_3

Commitments, Contingencies And Guarantees (Credit Exposure From Loan Commitments) (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Commitments And Guarantee Obligations [Line Items]	'
0 - 12 Months	$14.80
1 -5 Years	789.3
Total Corporate Lending Exposure	804.1	[1]
Corporate Lending Exposure at Fair Value	76	[2]
Corporate Lending Commitments	728.1	[3]
Corporate lending exposure at fair value of funded loans included in trading assets	91.9
Corporate lending commitments carried at fair value included in trading liabilities	15.9
Investment Grade [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
1 -5 Years	69.4
Total Corporate Lending Exposure	69.4	[1]
Corporate Lending Commitments	69.4	[3]
Non-investment grade [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
1 -5 Years	78.9
Total Corporate Lending Exposure	78.9	[1]
Corporate Lending Exposure at Fair Value	17.9	[2]
Corporate Lending Commitments	61	[3]
Unrated [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
0 - 12 Months	14.8
1 -5 Years	641
Total Corporate Lending Exposure	655.8	[1]
Corporate Lending Exposure at Fair Value	58.1	[2]
Corporate Lending Commitments	$597.70	[3]
[1]	Total corporate lending exposure represents the potential loss assuming the fair value of funded loans and lending commitments were zero.
[2]	The corporate lending exposure at fair value includes $91.9 million of funded loans included in Trading assets and a $15.9 million net liability related to lending commitments recorded in Trading liabilities in the Consolidated Statement of Financial Condition as of June 30, 2014.
[3]	Amounts represent the notional amount of unfunded lending commitments.

Commitments_Contingencies_And_4

Commitments, Contingencies And Guarantees (Guarantees) (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Guarantee Obligations [Line Items]	'
Maximum Payout	$3,252
Derivative Contracts - Non-Credit Related [Member] | Notional [Member]	'
Guarantee Obligations [Line Items]	'
2014	37,589.90
2015	1,141.80
2016 and 2017	43.7
2018 and 2019	1.2
2020 and Later	534.5
Maximum Payout	39,311.10
Written Derivative Contracts - Credit Related [Member] | Notional [Member]	'
Guarantee Obligations [Line Items]	'
2018 and 2019	420.8
Maximum Payout	420.8
Total Derivative Contracts [Member] | Notional [Member]	'
Guarantee Obligations [Line Items]	'
2014	37,589.90
2015	1,141.80
2016 and 2017	43.7
2018 and 2019	422
2020 and Later	534.5
Maximum Payout	$39,731.90

Commitments_Contingencies_And_5

Commitments, Contingencies And Guarantees (External Credit Ratings Of Underlying Or Referenced Assets For Credit Related Derivatives Contracts) (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Commitments And Guarantee Obligations [Line Items]	'
Maximum Payout	$3,252
AAA/Aaa [Member] | Index credit default swaps [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
Maximum Payout	344.8
BBB/Baa [Member] | Single name credit default swaps [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
Maximum Payout	61
Below Investment Grade [Member] | Single name credit default swaps [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
Maximum Payout	15
Notional/Maximum Payout [Member] | Index credit default swaps [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
Maximum Payout	344.8
Notional/Maximum Payout [Member] | Single name credit default swaps [Member]	'
Commitments And Guarantee Obligations [Line Items]	'
Maximum Payout	$76

Net_Capital_Requirements_Detai

Net Capital Requirements (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Jefferies LLC [Member]	'
Net Capital Requirements [Line Items]	'
Net Capital	$1,090,453
Excess Net Capital	1,016,424
Jefferies Execution [Member]	'
Net Capital Requirements [Line Items]	'
Net Capital	5,307
Excess Net Capital	5,057
Jefferies Bache, LLC [Member]	'
Net Capital Requirements [Line Items]	'
Adjusted Net Capital	196,264
Excess Net Capital	$80,938

Other_Fair_Value_Information_D

Other Fair Value Information (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Short-term borrowings	$12,000		$12,000
Long-term debt	8,798,056		8,180,865
Carrying Amount [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Notes and loans receivable	150,390	[1]	95,042	[1]
Short-term borrowings	12,000	[2]	12,000	[2]
Long-term debt	8,798,056	[2]	8,180,865	[2]
Fair Value [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Notes and loans receivable	153,551	[1]	95,606	[1]
Short-term borrowings	12,000	[2]	12,000	[2]
Long-term debt	$9,103,165	[2]	$8,230,191	[2]
[1]	Notes and loans receivable: The fair values are primarily measured using Level 2 and 3 inputs principally based on discounted future cash flows using market interest rates for similar instruments.
[2]	Short-term borrowings and long-term debt: The fair values of short-term borrowings are estimated to be the carrying amount. The fair values of non-variable rate debt are estimated using quoted prices and estimated rates that would be available for debt with similar terms. The fair value of variable rate debt is estimated to be the carrying amount.

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	6 Months Ended		12 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended	6 Months Ended	1 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014	Mar. 31, 2014
	item			Private Equity Related Funds [Member]	Private Equity Related Funds [Member]	Private Equity Related Funds [Member]	Private Equity Related Funds [Member]	Private Equity Related Funds [Member]	Company Chairman [Member]	HomeFed Corporation [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'	'
Loans to and/or equity investments in related funds	'	'	'	'	'	$63.70	'	$61.70	'	'
Losses from private equity related funds	'	'	'	9	1	11.5	1	'	'	'
Purchase commitments	433.1	'	300	'	'	'	'	'	'	'
Loans outstanding to certain employees	15.5	'	13.9	'	'	'	'	'	'	'
Sales to related party	19.3	13.1	'	'	'	'	'	'	'	'
Purchases from related party	7	4.8	'	'	'	'	'	'	'	'
Head of cattle to be purchased per year from members of USPB, actual number	735,385	'	'	'	'	'	'	'	'	'
Percentage of cattle requirements obtained through USPB	23.00%	22.00%	'	'	'	'	'	'	'	'
Cash paid on acquisition of common shares	'	'	'	'	'	'	'	'	'	$12.50
Common shares acquired	'	'	'	'	'	'	'	'	'	6,986,337
Additional common shares expected to be acquired	'	'	'	'	'	'	'	'	'	513,663
Ownership percentage of company	'	'	'	'	'	'	'	'	5.00%	'

Discontinued_Operations_And_As2

Discontinued Operations And Assets Held For Sale (Narrative) (Details) (USD $)	6 Months Ended		3 Months Ended	1 Months Ended	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013	Jul. 31, 2014	Sep. 30, 2014
			Power Production Business [Member]	Subsequent Event [Member]	Subsequent Event [Member]
				Premier [Member]	Premier [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'
Cash consideration from sale of business	'	'	'	$250,000,000	'
Pre-tax gain (loss) on sale of discontinued operations	$500,000	$92,000	$6,400,000	'	$12,500,000

Discontinued_Operations_And_As3

Discontinued Operations And Assets Held For Sale (Results Of Discontinued Operations) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Income tax provision (benefit)	$1,670	($1,217)	$2,934	($3,042)
Income (loss) from discontinued operations after income taxes	3,102	-2,423	5,448	-5,965
Discontinued Operating Companies [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Investment and other income	11	120	31	224
Total revenues	33,352	29,425	64,376	58,569
Compensation and benefits	1,882	4,762	3,054	10,362
Depreciation and amortization	2,393	2,224	4,617	4,522
Selling, general and other expenses	383	4,930	972	9,986
Total expenses	28,580	33,065	55,994	67,576
Income (loss) from discontinued operations before income taxes	4,772	-3,640	8,382	-9,007
Income tax provision (benefit)	1,670	-1,217	2,934	-3,042
Income (loss) from discontinued operations after income taxes	3,102	-2,423	5,448	-5,965
Gaming Entertainment [Member] | Discontinued Operating Companies [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Revenues	33,341	29,305	64,345	58,345
Expenses	$23,922	$21,149	$47,351	$42,706

Discontinued_Operations_And_As4

Discontinued Operations And Assets Held For Sale (Schedule Of Assets Held For Sale) (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets held-for-sale	$160,119
Real Estate [Member]	'
Assets held-for-sale	112,016
Investment In Associated Company [Member]	'
Assets held-for-sale	30,793
Other Assets [Member]	'
Assets held-for-sale	$17,310

Segment_Information_Narrative_

Segment Information (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net realized securities gains	$11,661,000	$9,500,000	$17,055,000	$239,391,000
Interest expense	29,144,000	21,208,000	57,720,000	42,527,000
Corporate [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net realized securities gains	12,300,000	9,500,000	17,100,000	239,400,000
Interest expense	24,400,000	17,900,000	49,500,000	36,000,000
Beef Processing Services [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Interest expense	3,800,000	3,200,000	6,900,000	6,500,000
Leucadia Other Operations [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Pre-tax losses of investigation and evaluation of various energy related projects	12,800,000	14,600,000	32,600,000	27,700,000
Inmet Mining Corporation [Member] | Corporate [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net realized securities gains	'	'	'	$227,600,000

Segment_Information_Schedule_O

Segment Information (Schedule Of Segment Reporting Information, By Segment) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net Revenues	$2,852,054	$2,675,725	$5,795,368	$4,973,338
Income (loss) from continuing operations before income taxes and income related to associated companies	71,278	48,946	191,023	372,061
Depreciation and amortization expenses	47,032	48,176	90,662	78,653
Beef Processing Services [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Revenues	2,009,093	1,920,423	3,896,471	3,709,865
Income (loss) from continuing operations before income taxes and income related to associated companies	6,518	27,286	-21,495	6,772
Depreciation and amortization expenses	21,195	21,855	41,955	43,588
Investment Banking & Capital Markets [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Revenues	689,303	651,509	1,619,815	651,509
Income (loss) from continuing operations before income taxes and income related to associated companies	85,568	77,603	281,938	77,603
Depreciation and amortization expenses	18,383	18,934	35,414	18,934
Other Operations [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Revenues	113,803	85,382	210,387	175,068
Income (loss) from continuing operations before income taxes and income related to associated companies	-6,014	-22,115	-23,515	-27,427
Depreciation and amortization expenses	6,115	4,393	10,617	9,961
Corporate [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Revenues	39,855	18,411	68,695	436,896
Income (loss) from continuing operations before income taxes and income related to associated companies	-14,794	-33,828	-45,905	315,113
Depreciation and amortization expenses	$1,339	$2,994	$2,676	$6,170