Jefferies Financial (JEF) 10-Q 1 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 25, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	LEUCADIA NATIONAL CORP
Entity Central Index Key	96,223
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Common Stock, Shares Outstanding		356,273,068

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents		$ 5,016,932	$ 3,807,558
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations		903,744	857,337
Financial instruments owned, including securities pledged of $10,257,188 and $9,706,881:
Trading assets, at fair value		15,505,065	14,985,237
Available for sale securities		520,497	301,049
Total financial instruments owned		16,025,562	15,286,286
Investments in managed funds		541,275	515,318
Loans to and investments in associated companies		2,350,980	2,125,098
Securities borrowed		7,758,532	7,743,562
Securities purchased under agreements to resell		3,371,435	3,862,488
Receivables		5,507,847	4,425,178
Property, equipment and leasehold improvements, net		727,685	709,242
Intangible assets, net and goodwill		2,473,292	2,513,678
Deferred tax asset, net		1,262,648	1,461,815
Assets held for sale		0	128,083
Other assets		1,727,012	1,635,664
Total assets	[1]	47,666,944	45,071,307
LIABILITIES
Short-term borrowings		417,122	525,842
Trading liabilities, at fair value		8,767,710	8,388,619
Securities loaned		2,763,253	2,819,132
Securities sold under agreements to repurchase		8,473,419	6,791,676
Other secured financings		892,692	1,026,429
Payables, expense accruals and other liabilities		7,104,957	7,373,708
Long-term debt		8,092,642	7,380,443
Total liabilities	[1]	36,511,795	34,305,849
Commitments and contingencies
MEZZANINE EQUITY
Redeemable noncontrolling interests		388,572	336,809
Mandatorily redeemable convertible preferred shares		125,000	125,000
EQUITY
Common shares, par value $1 per share, authorized 600,000,000 shares; 356,189,758 and 359,425,061 shares issued and outstanding, after deducting 60,203,260 and 56,947,654 shares held in treasury		356,190	359,425
Additional paid-in capital		4,731,811	4,812,587
Accumulated other comprehensive income		363,486	310,697
Retained earnings		5,000,423	4,645,391
Total Leucadia National Corporation shareholders’ equity		10,451,910	10,128,100
Noncontrolling interests		189,667	175,549
Total equity		10,641,577	10,303,649
Total		47,666,944	45,071,307
Variable interest entities [Member]
Financial instruments owned, including securities pledged of $10,257,188 and $9,706,881:
Total assets		826,000	815,800
LIABILITIES
Total liabilities		$ 1,111,000	$ 1,284,700
[1]	Total assets include assets related to variable interest entities of $826.0 million and $815.8 million at September 30, 2017 and December 31, 2016, respectively, and Total liabilities include liabilities related to variable interest entities of $1,111.0 million and $1,284.7 million at September 30, 2017 and December 31, 2016, respectively. See Note 8 for additional information related to variable interest entities.

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Securities pledged	$ 10,257,188	$ 9,706,881
Stockholders' Equity Attributable to Parent [Abstract]
Common shares, par value (USD per share)	$ 1	$ 1
Common shares, authorized (in shares)	600,000,000	600,000,000
Common shares, issued and outstanding after deducting shares held in treasury (in shares)	356,189,758	359,425,061
Treasury stock (in shares)	60,203,260	56,947,654

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Beef processing services	$ 2,038,821	$ 1,746,841	$ 5,472,339	$ 5,175,592
Commissions	139,082	152,044	437,547	454,025
Principal transactions	95,419	299,066	737,955	458,930
Investment banking	475,702	294,930	1,235,586	778,906
Interest income	253,974	226,648	727,202	690,257
Net realized securities gains	19,707	60	21,278	8,202
Other	119,187	164,121	580,069	366,423
Total revenues	3,141,892	2,883,710	9,211,976	7,932,335
Interest expense	27,325	23,121	82,543	68,145
Net revenues	2,896,522	2,676,375	8,496,884	7,316,839
Expenses:
Cost of sales	1,888,076	1,689,093	5,241,721	5,113,515
Compensation and benefits	504,831	418,715	1,500,587	1,266,213
Floor brokerage and clearing fees	42,852	40,189	133,145	124,259
Interest	27,325	23,121	82,543	68,145
Depreciation and amortization	55,424	52,691	155,651	153,070
Selling, general and other expenses	208,044	239,160	576,018	612,674
Total expenses	2,726,552	2,462,969	7,689,665	7,337,876
Income (loss) before income taxes and income (loss) related to associated companies	169,970	213,406	807,219	(21,037)
Income (loss) related to associated companies	30,057	36,503	(84,413)	108,445
Income before income taxes	200,027	249,909	722,806	87,408
Income tax provision	63,260	73,703	218,054	59,192
Net income	136,767	176,206	504,752	28,216
Net (income) loss attributable to the noncontrolling interests	(28)	1,870	1,941	3,682
Net income attributable to the redeemable noncontrolling interests	(36,216)	(22,702)	(64,538)	(40,084)
Preferred stock dividends	(1,172)	(1,016)	(3,203)	(3,047)
Net income (loss) attributable to Leucadia National Corporation common shareholders	$ 99,351	$ 154,358	$ 438,952	$ (11,233)
Basic earnings (loss) per common share attributable to Leucadia National Corporation common shareholders:
Net income (loss) (in dollars per share)	$ 0.27	$ 0.41	$ 1.19	$ (0.03)
Diluted earnings (loss) per common share attributable to Leucadia National Corporation common shareholders:
Net income (loss) (in dollars per share)	0.27	0.41	1.17	(0.03)
Dividends per common share (in dollars per share)	$ 0.1	$ 0.0625	$ 0.225	$ 0.1875
Investment Banking And Capital Markets Segment
Revenues:
Interest expense	$ 245,370	$ 207,335	$ 715,092	$ 615,496
Expenses:
Interest	$ 245,370	$ 207,335	$ 715,092	$ 615,496

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 136,767	$ 176,206	$ 504,752	$ 28,216
Other comprehensive income (loss):
Net unrealized holding gains (losses) on investments arising during the period, net of income tax provision (benefit) of $(598), $2,937, $5,106 and $1,639	(1,030)	5,064	8,767	2,826
Less: reclassification adjustment for net (gains) losses included in net income (loss), net of income tax provision (benefit) of $(257), $(1), $14 and $5	443	1	(24)	(8)
Net change in unrealized holding gains (losses) on investments, net of income tax provision (benefit) of $(341), $2,938, $5,092 and $1,634	(587)	5,065	8,743	2,818
Net unrealized foreign exchange gains (losses) arising during the period, net of income tax provision (benefit) of $4,374, $262, $12,929 and $1,588	11,250	(55,573)	49,125	(77,309)
Less: reclassification adjustment for foreign exchange (gains) losses included in net income (loss), net of income tax provision (benefit) of $(11), $0, $1,086 and $0	20	0	5,310	0
Net change in unrealized foreign exchange gains (losses), net of income tax provision (benefit) of $4,385, $262, $11,843 and $1,588	11,270	(55,573)	54,435	(77,309)
Net unrealized gains (losses) on instrument specific credit risk arising during the period, net of income tax provision (benefit) of $2,149, $(1,627), $(5,270) and $(3,077)	3,508	(2,466)	(8,870)	(4,771)
Less: reclassification adjustment for instrument specific credit risk (gains) losses included in net income (loss), net of income tax provision (benefit) of $0, $0, $0 and $0	0	0	0	0
Net change in unrealized instrument specific credit risk gains (losses), net of income tax provision (benefit) of $2,149, $(1,627), $(5,270) and $(3,077)	3,508	(2,466)	(8,870)	(4,771)
Net unrealized gains (losses) on cash flow hedges arising during the period, net of income tax provision (benefit) of $0, $0, $0 and $0	(1,585)	0	(1,585)	0
Less: reclassification adjustment for cash flow hedges (gains) losses included in net income (loss), net of income tax provision (benefit) of $0, $0, $0 and $0	0	0	0	0
Net change in unrealized cash flow hedges gains (losses), net of income tax provision (benefit) of $0, $0, $0 and $0	(1,585)	0	(1,585)	0
Net pension gains (losses) arising during the period, net of income tax provision (benefit) of $0, $0, $0 and $0	0	0	0	0
Less: reclassification adjustment for pension (gains) losses included in net income (loss), net of income tax provision (benefit) of $(201), $(175), $(1,835) and $(526)	438	383	66	1,150
Net change in pension liability, net of income tax provision (benefit) of $201, $175, $1,835 and $526	438	383	66	1,150
Other comprehensive income (loss), net of income taxes	13,044	(52,591)	52,789	(78,112)
Comprehensive income (loss)	149,811	123,615	557,541	(49,896)
Comprehensive (income) loss attributable to the noncontrolling interests	(28)	1,870	1,941	3,682
Comprehensive income attributable to the redeemable noncontrolling interests	(36,216)	(22,702)	(64,538)	(40,084)
Preferred stock dividends	(1,172)	(1,016)	(3,203)	(3,047)
Comprehensive income (loss) attributable to Leucadia National Corporation common shareholders	$ 112,395	$ 101,767	$ 491,741	$ (89,345)

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net unrealized holding gains (losses) on investments arising during the period, tax provision (benefit)	$ (598)	$ 2,937	$ 5,106	$ 1,639
Less: reclassification adjustment for net (gains) losses included in net income (loss), tax provision (benefit)	(257)	(1)	14	5
Net change in unrealized holding gains (losses) on investments, tax provision (benefit)	(341)	2,938	5,092	1,634
Net unrealized foreign exchange gains (losses) arising during the period, tax provision (benefit)	4,374	262	12,929	1,588
Less: reclassification adjustment for foreign exchange (gains) losses included in net income (loss), tax provision (benefit)	(11)	0	1,086	0
Net change in unrealized foreign exchange gains (losses), tax provision (benefit)	4,385	262	11,843	1,588
Net unrealized gains (losses) on instrument specific credit risk arising during the period, tax provision (benefit)	2,149	(1,627)	(5,270)	(3,077)
Less: reclassification adjustment for instrument specific credit risk (gains) losses included in net income (loss), tax provision (benefit)	0	0	0	0
Net change in unrealized instrument specific credit risk gains (losses), tax provision (benefit)	2,149	(1,627)	(5,270)	(3,077)
Net unrealized gains (losses) on cash flow hedges arising during the period, tax provision (benefit)	0	0	0	0
Less: reclassification adjustment for cash flow hedges (gains) losses included in net income (loss), tax provision (benefit)	0	0	0	0
Net change in unrealized cash flow hedges gains (losses), tax provision (benefit)	0	0	0	0
Net pension gains (losses) arising during the period, tax provision (benefit)	0	0	0	0
Less: reclassification adjustment for pension (gains) losses included in net income (loss), tax provision (benefit)	(201)	(175)	(1,835)	(526)
Net change in pension liability, tax provision (benefit)	$ 201	$ 175	$ 1,835	$ 526

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Net cash flows from operating activities:
Net income	$ 504,752	$ 28,216
Adjustments to reconcile net income to net cash provided by operations:
Deferred income tax provision	185,994	52,241
Depreciation and amortization of property, equipment and leasehold improvements	109,061	106,948
Other amortization	13,418	13,510
Share-based compensation	31,494	24,936
Provision for doubtful accounts	33,163	26,372
Net securities gains	(21,278)	(8,202)
(Income) loss related to associated companies	19,090	(92,583)
Distributions from associated companies	100,033	118,855
Net losses related to property and equipment, and other assets	10,290	73,384
Gain on sale of subsidiary	(178,236)	0
Net change in:
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	(45,746)	(277,019)
Trading assets	(613,332)	2,190,420
Investments in managed funds	(24,226)	44,306
Securities borrowed	0	(1,510,588)
Securities purchased under agreements to resell	524,937	(248,931)
Receivables from brokers, dealers and clearing organizations	(602,761)	(364,929)
Receivables from customers of securities operations	(458,066)	331,266
Other receivables	(157,062)	(124,191)
Other assets	(55,027)	(310,542)
Trading liabilities	328,060	1,268,979
Securities loaned	(68,310)	(22,326)
Securities sold under agreements to repurchase	1,668,725	(1,824,027)
Payables to brokers, dealers and clearing organizations	(652,668)	777,228
Payables to customers of securities operations	162,387	(31,159)
Trade payables, expense accruals and other liabilities	123,448	79,650
Other	73,525	9,117
Net cash provided by operating activities	1,011,665	330,931
Net cash flows from investing activities:
Acquisitions of property, equipment and leasehold improvements, and other assets	(129,358)	(255,367)
Proceeds from disposals of property and equipment, and other assets	27,688	58,650
Proceeds from sale of subsidiary, net of expenses and cash of operations sold	289,767	0
Acquisitions, net of cash acquired	0	(9,673)
Advances on notes, loans and other receivables	(37,805)	(234,091)
Collections on notes, loans and other receivables	267,170	52,507
Loans to and investments in associated companies	(3,043,800)	(530,883)
Capital distributions and loan repayments from associated companies	2,765,006	495,246
Purchases of investments (other than short-term)	(770,687)	(507,048)
Proceeds from maturities of investments	196,493	122,041
Proceeds from sales of investments	412,158	251,918
Other	1,341	(1,846)
Net cash (used for) investing activities	(22,027)	(558,546)
Net cash flows from financing activities:
Issuance of debt, net of issuance costs	1,594,460	614,062
Other change in short-term borrowings, net	4,282	120,865
Repayment of debt	(1,063,058)	(760,274)
Net change in other secured financings	(134,743)	(2,194)
Net change in bank overdrafts	(5,764)	(56,126)
Issuance of common shares	1,288	894
Net distributions to redeemable noncontrolling interests	(37,214)	(18,469)
Distributions to noncontrolling interests	(9,617)	(2,044)
Contributions from noncontrolling interests	25,724	116,847
Purchase of common shares for treasury	(75,930)	(59,784)
Dividends paid	(81,445)	(68,633)
Other	0	388
Net cash provided by (used for) financing activities	217,983	(114,468)
Effect of foreign exchange rate changes on cash	4,889	(17,590)
Change in cash classified as assets held for sale	(3,136)	0
Net increase (decrease) in cash and cash equivalents	1,209,374	(359,673)
Cash and cash equivalents at January 1,	3,807,558	3,638,648
Cash and cash equivalents at September 30,	$ 5,016,932	$ 3,278,975

Consolidated Statements of Chan

Consolidated Statements of Changes In Equity - USD ($) $ in Thousands	Total	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]
Beginning Balance at Dec. 31, 2015	$ 10,465,890	$ 362,617	$ 4,986,819	$ 438,793	$ 4,612,982	$ 10,401,211	$ 64,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(14,915)				(11,233)	(11,233)	(3,682)
Other comprehensive income, net of taxes	(78,112)			(78,112)		(78,112)
Contributions from noncontrolling interests	118,940					0	118,940
Distributions to noncontrolling interests	(2,044)					0	(2,044)
Deconsolidation of asset management entities	(385)					0	(385)
Change in interest in consolidated subsidiary	0		(282)			(282)	282
Share-based compensation expense	24,936		24,936			24,936
Change in fair value of redeemable noncontrolling interests	(132,831)		(132,831)			(132,831)
Purchase of common shares for treasury	(73,124)	(4,300)	(68,824)			(73,124)
Dividends ($.1875 and $.225 per common share for nine months ended September 30, 2016 and 2017)	(70,420)				(70,420)	(70,420)
Other	(458)	1,354	(1,829)			(475)	17
Ending Balance at Sep. 30, 2016	10,237,477	359,671	4,807,989	360,681	4,531,329	10,059,670	177,807
Beginning Balance at Dec. 31, 2015	10,465,890	362,617	4,986,819	438,793	4,612,982	10,401,211	64,679
Ending Balance at Sep. 30, 2017	10,641,577	356,190	4,731,811	363,486	5,000,423	10,451,910	189,667
Beginning Balance at Dec. 31, 2016	10,303,649	359,425	4,812,587	310,697	4,645,391	10,128,100	175,549
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	437,011				438,952	438,952	(1,941)
Other comprehensive income, net of taxes	52,789			52,789		52,789
Contributions from noncontrolling interests	25,724					0	25,724
Distributions to noncontrolling interests	(9,617)					0	(9,617)
Change in interest in consolidated subsidiary	0		48			48	(48)
Share-based compensation expense	31,494		31,494			31,494
Change in fair value of redeemable noncontrolling interests	(24,404)		(24,404)			(24,404)
Exercise of options to purchase common shares	462	20	442			462
Purchase of common shares for treasury	(96,882)	(3,883)	(92,999)			(96,882)
Dividends ($.1875 and $.225 per common share for nine months ended September 30, 2016 and 2017)	(83,920)				(83,920)	(83,920)
Other	5,271	628	4,643			5,271
Ending Balance at Sep. 30, 2017	$ 10,641,577	$ 356,190	$ 4,731,811	$ 363,486	$ 5,000,423	$ 10,451,910	$ 189,667

Consolidated Statements of Cha9

Consolidated Statements of Changes In Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.1	$ 0.0625	$ 0.225	$ 0.1875

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Leucadia National Corporation (“Leucadia” or the “Company”) is a diversified holding company focused on long-term value creation to maximize shareholder value. We continuously review acquisitions of businesses, securities and assets that have the potential for significant long-term value creation, invest in a broad array of businesses, and evaluate the retention and disposition of our existing operations and holdings. Changes in the mix of our businesses and investments should be expected. Our financial services businesses and investments include Jefferies (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking, investment sales and servicing), FXCM (provider of online foreign exchange trading services), HomeFed (publicly traded real estate company) and Foursight Capital (vehicle finance). We also own and have investments in a diverse array of other businesses, including National Beef (beef processing), HRG Group (insurance and consumer products), Vitesse Energy and JETX Energy (oil and gas exploration and development), Garcadia (automobile dealerships), Linkem (fixed wireless broadband services in Italy), Idaho Timber (manufacturing company) and Golden Queen (gold and silver mining). The structure of each of our investments was tailored to the unique opportunity each transaction presented. Our investments may be reflected in our consolidated results as consolidated subsidiaries, equity investments, securities, or in other ways, depending on the structure of our specific holdings. Jefferies is a global full-service, integrated securities and investment banking firm. In March 2013, Jefferies became an indirect wholly-owned subsidiary of Leucadia, yet retains a separate credit rating and continues to be a separate SEC reporting company. Through Jefferies, we own 50% of Jefferies Finance LLC ("Jefferies Finance"), our joint venture with Massachusetts Mutual Life Insurance Company. Jefferies Finance is a commercial finance company whose primary focus is the origination and syndication of senior secured debt of middle market and growth companies in the form of term and revolving loans. Through Jefferies, we also own a 48.5% voting interest in Jefferies LoanCore, LLC ("Jefferies LoanCore"), a joint venture with the Government of Singapore Investment Corporation, the Canadian Pension Plan Investment Board and LoanCore, LLC. Jefferies LoanCore originates, purchases and securitizes commercial real estate loans throughout the U.S. On October 31, 2017, Jefferies sold all of its membership interests in Jefferies LoanCore for approximately $170 million , the estimated book value as of October 31, 2017. In addition, Jefferies may be entitled to additional cash consideration over the next five years in the event Jefferies LoanCore's yearly return on equity exceeds certain thresholds. Jefferies has a November 30 year-end, 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 September 2017 for the purpose of evaluating whether financial statement disclosure or adjustments are required in this Quarterly Report on Form 10-Q, and we have concluded that no additional disclosures or adjustments are warranted. Berkadia Commercial Mortgage LLC ("Berkadia"), our 50-50 equity method joint venture with Berkshire Hathaway Inc., is a U.S. commercial real estate finance company providing capital solutions, investment sales advisory and mortgage servicing for multifamily and commercial properties. Leucadia Asset Management ("LAM") supports and develops focused alternative asset management businesses led by distinct management teams. These primarily include Folger Hill Asset Management LLC ("Folger Hill"), a multi-manager discretionary long/short equity hedge fund platform; Topwater Capital, a first-loss product; 54 Madison Capital, LLC ("54 Madison"), which invests in real estate projects; CoreCommodity Management LLC, an asset manager that focuses on commodities strategies; Tenacis Capital, a systematic macro investment platform; Lake Hill, an electronic trader in listed options and futures across asset classes; as well as several other smaller businesses. In addition, several investment management businesses, including Jefferies Strategic Investments Division, operate under Jefferies and are included under our marketing of the LAM platform. Our investment in FXCM Group, LLC ("FXCM") and associated companies consists of a senior secured term loan due January 2018 ( $67.6 million outstanding at September 30, 2017 ), a 49.9% common membership interest in FXCM and up to 65% of all distributions. FXCM's six -member board is comprised of three directors appointed by Leucadia and three directors appointed by Global Brokerage Holdings, LLC ("Global Brokerage Holdings" and formerly FXCM Holdings, LLC). See Notes 3 and 9 to our consolidated financial statements for additional information. We own an approximate 70% equity method interest in HomeFed, which owns and develops residential and mixed use real estate properties. HomeFed is a public company traded on the NASD OTC Bulletin Board. We own 100% of Foursight Capital, an auto loan originator and servicer, and 85% of Chrome Capital, which owns and manages a portfolio of leases on used Harley-Davidson motorcycles and is in the process of winding down. We own approximately 23% of HRG Group, Inc. ("HRG"), a publicly traded company (NYSE: HRG), and we reflect this investment at fair value based on quoted market prices. HRG primarily owns approximately 59% of Spectrum Brands, a publicly traded (NYSE: SPB) global consumer products company; an approximately 80% ownership stake in Fidelity & Guaranty Life ("FGL"), a publicly traded (NYSE: FGL) life insurance and annuity products company; and Front Street, a long-term reinsurance company. On May 24, 2017, FGL and CF Corporation entered into a definitive agreement and plan of merger pursuant to which CF Corporation will acquire FGL for $31.10 per share in cash. The transaction is expected to close in the fourth quarter of 2017. We own 78.9% of National Beef Packing Company. National Beef processes and markets fresh and chilled boxed beef, ground beef, beef by-products, consumer-ready beef and pork, and wet blue leather for domestic and international markets. National Beef operates two beef processing facilities, three further processing facilities and a wet blue tanning facility, all located in the U.S. National Beef operates one of the largest wet blue tanning facilities 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 directly to customers through the internet, direct mail and direct response television. National Beef also owns a refrigerated and livestock transportation and logistics company that provides transportation services for National Beef and third parties. Garcadia is an equity method joint venture that owns and operates 28 automobile dealerships in California, Texas, Iowa and Michigan. We own approximately 75% of Garcadia. We own approximately 42% of the common shares of Linkem, as well as convertible preferred shares which, if converted, would increase our ownership to approximately 53% of Linkem's common equity at September 30, 2017 . Linkem provides residential broadband services using LTE technologies deployed over the 3.5 GHz spectrum band. Linkem operates in Italy, which has few cable television systems and poor broadband alternatives. Linkem is accounted for under the equity method. Vitesse Energy, LLC ("Vitesse") is our 96% owned consolidated subsidiary that acquires and develops non-operated working and royalty oil and gas interests in the Bakken Shale oil field in North Dakota and Montana as well as the Denver-Julesburg Basin in Wyoming. JETX Energy, LLC ("JETX"), formerly Juneau Energy, LLC, is our 98% owned consolidated subsidiary that engages in the exploration, development and production of oil and gas from onshore, unconventional resource areas. JETX currently has non-operated working interests and acreage in the Texas Gulf Coast region. Idaho Timber is our consolidated subsidiary engaged in the manufacture and distribution of various wood products, including the following principal activities: remanufacturing dimension lumber; remanufacturing, bundling and bar coding of home center boards for large retailers; and production of pine dimension lumber and 5/4” radius-edge pine decking. Golden Queen Mining Company, LLC ("Golden Queen") owns the Soledad Mountain project, an open pit, heap leach gold and silver mining project in Kern County, California, which commenced gold and silver production in March 2016. We and the Clay family have formed and made contributions to a limited liability company, controlled by us, through which we invested in Golden Queen for the development and operation of the project. Our effective ownership of Golden Queen is approximately 35% which is accounted for under the equity method. Conwed Plastics ("Conwed") was our consolidated subsidiary that manufactured and marketed lightweight plastic netting used for building and construction, erosion and sediment control, packaging, agricultural purposes, carpet padding, filtration, consumer products and other purposes. In January 2017, we sold 100% of Conwed to Schweitzer-Mauduit International, Inc., (NYSE: SWM) for $295 million in cash plus potential earn-out payments over five years of up to $40 million in cash to the extent the results of Conwed’s subsidiary, Filtrexx International, exceed certain performance thresholds. We recognized a $178.2 million pre-tax gain (net of working capital adjustments) on the sale of Conwed in Other revenues during the nine months ended September 30, 2017 .

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Our unaudited interim consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in our Annual Report on Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations. For a detailed discussion about the Company’s significant accounting policies, see Note 2, Significant Accounting Policies, included in our Annual Report on Form 10-K for the year ended December 31, 2016. Other than the following, there were no significant updates made to the Company’s significant accounting policies. The accounting policy updates are attributable to the implementation of hedge accounting in connection with an interest rate swap entered into during the nine months ended September 30, 2017 and the adoption of the Financial Accounting Standards Board (“FASB”) guidance on improvements to employee share-based payment accounting. The preparation of these financial statements in accordance with accounting principles generally accepted in the United States of America (“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. Principal Transactions Revenues Trading assets and trading liabilities (all of which are recorded on a trade-date basis) are carried at fair value with gains and losses reflected in Principal transaction revenues in our Consolidated Statements of Operations, except for derivatives accounted for as hedges (see “Hedge Accounting” section herein and Note 4). Fees received on loans carried at fair value are also recorded within Principal transaction revenues. Hedge Accounting Jefferies applies hedge accounting using interest rate swaps designated as fair value hedges of changes in the benchmark interest rate of fixed rate senior long-term debt. Jefferies interest rate swaps are included as derivative contracts in Trading assets and Trading liabilities in the Consolidated Statements of Financial Condition. Jefferies uses regression analysis to perform ongoing prospective and retrospective assessments of the effectiveness of these hedging relationships. A hedging relationship is deemed effective if the change in fair value of the interest rate swap and the change in the fair value of the long-term debt due to changes in the benchmark interest rate offset within a range of 80% to 125% . The impact of valuation adjustments related to Jefferies own credit spreads and counterparty credit spreads are included in the assessment of effectiveness. For qualifying fair value hedges of benchmark interest rates, the change in the fair value of the derivative and the change in fair value of the long-term debt provide offset of one another, and together with any resulting ineffectiveness, are recorded in Interest expense. See Note 4 for further information. Receivables At September 30, 2017 and December 31, 2016 , Receivables include receivables from brokers, dealers and clearing organizations of $2,674.7 million and $2,062.9 million , respectively, and receivables from customers of securities operations of $1,291.5 million and $843.1 million , respectively. Payables, expense accruals and other liabilities At September 30, 2017 and December 31, 2016 , Payables, expense accruals and other liabilities include payables to brokers, dealers and clearing organizations of $2,668.9 million and $3,290.4 million , respectively, and payables to customers of securities operations of $2,459.7 million and $2,297.3 million , respectively. 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. In the third quarter of 2016, JETX recorded impairment charges in Selling, general and other expenses of $55.0 million related to write-downs of unproved oil and gas properties. JETX assesses its unproved oil and gas properties for impairment based on remaining lease terms, drilling results or future plans to develop acreage and they record impairment expense for any decline in value. In the third quarter of 2016, JETX curtailed development of its southern acreage in the East Eagle Ford and its Houston County acreage. As a result, an impairment was recorded for the difference between the carrying value and the estimated net realizable value of the acreage. In the third quarter of 2017, JETX decided to focus on its other higher returning acreage and as a result wrote off the remaining carrying value for its Houston County acreage. JETX recorded an impairment charge of $10.1 million in Selling, general and other expenses in the third quarter of 2017 related to the write-down of unproved oil and gas properties. Supplemental Cash Flow Information For the Nine Months Ended September 30, 2017 2016 Cash paid during the year for: (In thousands) Interest $ 837,020 $ 727,115 Income tax payments (refunds), net $ 9,183 $ (13,933 ) During the nine months ended September 30, 2016 , we had $334.5 million in non-cash investing activities related to the transfer of the investment in FXCM from Trading assets to Loans to and investments in associated companies. During the nine months ended September 30, 2017 and 2016 , we had $21.0 million and $13.3 million , respectively, in non-cash financing activities related to purchases of common shares for treasury which settled subsequent to quarter end. Accounting Developments - Accounting Standards to be Adopted in Future Periods 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 is effective for interim and annual periods beginning after December 15, 2017. We intend to adopt the new guidance using the modified retrospective approach with a cumulative-effect adjustment to opening retained earnings. The evaluation of the impact this new guidance will have on our consolidated financial statements is ongoing. Our implementation efforts include the identification of revenue streams within the scope of the guidance, the evaluation of certain revenue contracts and education and discussion with our consolidated subsidiaries. The below focuses on our two largest consolidated subsidiaries, whose combined revenues make up more than 92% of our Net revenues in the Consolidated Statements of Operations for the nine months ended September 30, 2017 . We continue to evaluate revenues for our consolidated subsidiaries not disclosed below, however, we do not expect the adoption of the new guidance for these subsidiaries to have a material impact on our consolidated financial statements. For Jefferies, as the new revenue recognition guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, Jefferies does not expect the guidance to have a material impact on the elements of its revenues most closely associated with financial instruments, including Principal transaction revenues, Interest income and Interest expense. Jefferies evaluation of the impact of the new guidance on its consolidated financial statements is ongoing. Jefferies continues to evaluate the timing of recognition for each revenue stream within scope, which includes investment banking and asset management fees which may be accelerated or deferred depending on the features of the client arrangements, and the timing and presentation of certain related investment banking expenses (whether presented gross or offset against revenues). National Beef's evaluation of the impact of the new guidance on its consolidated financial statements is ongoing. National Beef continues to evaluate its revenue streams and its contracts with customers within each revenue stream, however, National Beef does not expect the adoption of the new revenue standard to materially impact its consolidated financial statements. Financial Instruments. In January 2016, the FASB issued new guidance that affects the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance is effective for annual and interim periods beginning after December 15, 2017. We are currently evaluating the impact of the new guidance related to equity investments and the presentation and disclosure requirements of financial instruments on our consolidated financial statements. Early adoption was permitted for the accounting guidance on financial liabilities under the fair value option and we adopted this guidance in the first quarter of 2016. The adoption of the guidance on financial liabilities under the fair value option did not have a significant impact on our consolidated financial statements. Leases. In February 2016, the FASB issued new guidance that affects the accounting and disclosure requirements for leases. The FASB requires the recognition of lease assets and lease liabilities on the statement of financial condition. The guidance is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Financial Instruments - Credit Losses. In June 2016, the FASB issued new guidance for estimating credit losses on certain types of financial instruments by introducing an approach based on expected losses. The guidance is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Cash Flow Classifications. In August 2016, the FASB issued new guidance to reduce the diversity in practice in how certain transactions are classified in the statement of cash flows. The guidance adds or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The guidance is effective for annual and interim periods beginning after December 15, 2017. In November 2016, the FASB issued new guidance on restricted cash. The guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The guidance is effective for annual and interim periods beginning after December 15, 2017. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Goodwill. In January 2017, the FASB issued new guidance for simplifying goodwill impairment testing. The guidance is effective for annual and interim periods beginning after December 15, 2019 and early adoption is permitted. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Retirement Benefits. In March 2017, the FASB issued new guidance for improving the presentation of net periodic pension costs in the statement of operations. The update also allows the service cost to be eligible for capitalization, when applicable. The guidance is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Compensation. In May 2017, the FASB issued new guidance providing clarity and reducing diversity in practice and cost and complexity when accounting for a change to the terms or conditions of a share-based payment award. The guidance is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Derivatives and hedging. In August 2017, the FASB issued new guidance to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. The guidance is effective for annual and interim periods beginning after December 15, 2018 and early adoption is permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Accounting Developments - Adopted Accounting Standards Share-Based Payments to Employees. In January 2017, we adopted the FASB's new guidance that simplifies and improves accounting for share-based payments. The amendments include the recognition of all excess tax benefits and tax deficiencies as income tax expense or benefit in the statement of operations and changes to the timing of recognition of excess tax benefits, the accounting for forfeitures, classification of awards as either equity or liabilities and classification on the statement of cash flows. The adoption of this guidance did not have a significant impact on our consolidated financial statements. We elected to account for forfeitures as they occur, which results in dividends and dividend equivalents originally charged against retained earnings for forfeited shares to be reclassified to compensation expense in the period in which the forfeiture occurs.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures The following is a summary of our financial instruments, trading liabilities, short-term borrowings, long-term debt and other secured financings that are accounted for at fair value on a recurring basis, excluding Investments at fair value based on net asset value ("NAV") (within trading assets) of $24.2 million and $24.3 million , respectively, by level within the fair value hierarchy at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total Assets: Trading assets, at fair value: Corporate equity securities $ 2,740,135 $ 83,565 $ 22,174 $ — $ 2,845,874 Corporate debt securities — 2,732,943 25,015 — 2,757,958 Collateralized debt obligations and collateralized loan obligations — 54,433 50,070 — 104,503 U.S. government and federal agency securities 1,834,270 95,175 — — 1,929,445 Municipal securities — 680,634 — — 680,634 Sovereign obligations 1,384,264 668,053 — — 2,052,317 Residential mortgage-backed securities — 1,671,170 20,649 — 1,691,819 Commercial mortgage-backed securities — 508,665 17,636 — 526,301 Other asset-backed securities — 157,354 68,946 — 226,300 Loans and other receivables — 2,014,650 62,656 — 2,077,306 Derivatives 67,929 2,713,413 2,671 (2,595,355 ) 188,658 Investments at fair value — — 328,969 — 328,969 FXCM term loan — — 70,800 — 70,800 Total trading assets, excluding investments at fair value based on NAV $ 6,026,598 $ 11,380,055 $ 669,586 $ (2,595,355 ) $ 15,480,884 Available for sale securities: Corporate equity securities $ 93,355 $ — $ — $ — $ 93,355 Corporate debt securities — 179 — — 179 U.S. government securities 345,740 — — — 345,740 Residential mortgage-backed securities — 37,090 — — 37,090 Commercial mortgage-backed securities — 10,908 — — 10,908 Other asset-backed securities — 33,225 — — 33,225 Total available for sale securities $ 439,095 $ 81,402 $ — $ — $ 520,497 Liabilities: Trading liabilities: Corporate equity securities $ 1,585,186 $ 23,821 $ 119 $ — $ 1,609,126 Corporate debt securities — 1,574,931 522 — 1,575,453 U.S. government and federal agency securities 1,314,800 — — — 1,314,800 Municipal securities — 44 — — 44 Sovereign obligations 1,600,423 653,106 — — 2,253,529 Commercial mortgage-backed securities — 979 35 — 1,014 Loans — 1,434,380 3,285 — 1,437,665 Derivatives 148,296 3,134,145 7,753 (2,714,115 ) 576,079 Total trading liabilities $ 4,648,705 $ 6,821,406 $ 11,714 $ (2,714,115 ) $ 8,767,710 Short-term borrowings $ — $ 4,281 $ — $ — $ 4,281 Long-term debt - structured notes $ — $ 553,870 $ — $ — $ 553,870 December 31, 2016 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total Assets: Trading assets, at fair value: Corporate equity securities $ 2,522,977 $ 92,839 $ 21,739 $ — $ 2,637,555 Corporate debt securities — 2,675,020 25,005 — 2,700,025 Collateralized debt obligations and collateralized loan obligations — 54,306 54,354 — 108,660 U.S. government and federal agency securities 2,389,397 56,726 — — 2,446,123 Municipal securities — 708,469 27,257 — 735,726 Sovereign obligations 1,432,556 990,492 — — 2,423,048 Residential mortgage-backed securities — 960,494 38,772 — 999,266 Commercial mortgage-backed securities — 296,405 20,580 — 316,985 Other asset-backed securities — 63,587 40,911 — 104,498 Loans and other receivables — 1,557,233 81,872 — 1,639,105 Derivatives 3,825 4,616,822 6,429 (4,255,998 ) 371,078 Investments at fair value — — 314,359 — 314,359 FXCM term loan — — 164,500 — 164,500 Total trading assets, excluding investments at fair value based on NAV $ 6,348,755 $ 12,072,393 $ 795,778 $ (4,255,998 ) $ 14,960,928 Available for sale securities: Corporate equity securities $ 79,425 $ — $ — $ — $ 79,425 Corporate debt securities — 179 — — 179 U.S. government securities 174,933 — — — 174,933 Residential mortgage-backed securities — 19,133 — — 19,133 Commercial mortgage-backed securities — 8,337 — — 8,337 Other asset-backed securities — 19,042 — — 19,042 Total available for sale securities $ 254,358 $ 46,691 $ — $ — $ 301,049 Liabilities: Trading liabilities: Corporate equity securities $ 1,593,548 $ 16,806 $ 313 $ — $ 1,610,667 Corporate debt securities — 1,718,424 523 — 1,718,947 U.S. government and federal agency securities 976,497 — — — 976,497 Sovereign obligations 1,375,590 1,253,754 — — 2,629,344 Loans — 801,977 378 — 802,355 Derivatives 2,566 4,867,586 9,870 (4,229,213 ) 650,809 Total trading liabilities $ 3,948,201 $ 8,658,547 $ 11,084 $ (4,229,213 ) $ 8,388,619 Other secured financings $ — $ 41,350 $ 418 $ — $ 41,768 Long-term debt - structured notes $ — $ 248,856 $ — $ — $ 248,856 (1) Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty. 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 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 from 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/Earnings before interest, taxes, depreciation and amortization ("EBITDA"), price/book value), discounted cash flow analyses and transaction prices observed from subsequent financing or capital issuance by Jefferies. 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 measured primarily using pricing data from external pricing services, prices observed from recently executed market transactions and broker quotations and are categorized within Level 2 of the fair value hierarchy. Where such information is not available, 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 from recently executed market transactions 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 are 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 from 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 and Collateralized Loan Obligations Collateralized debt obligations (“CDOs”) and collateralized loan obligations (“CLOs”) are measured based on prices observed from recently executed market transactions of the same or similar security or based on valuations received from third party brokers or data providers and are categorized within Level 2 or Level 3 of the fair value hierarchy depending on the observability and significance of the pricing inputs. Valuation that is based on recently executed market transactions of similar securities incorporates additional review and analysis of pricing inputs and comparability criteria including, but not limited to, collateral type, tranche type, rating, origination year, prepayment rates, default rates, and loss severity. 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 and are generally categorized within Level 1 or 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 Interest-Only and Inverse Interest-Only Securities ("Agency Inverse IOs"): The fair value of Agency Inverse IOs is 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 from 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 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: Government National Mortgage Association (“GNMA”) project loans are measured based on inputs corroborated from and benchmarked to observed prices of recent securitization transactions of similar securities with adjustments incorporating an evaluation for various factors, including prepayment speeds, default rates, and cash flow structures as well as the likelihood of pricing levels in the current market environment. Federal National Mortgage Association (“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 from 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, student loans and other consumer loans and are categorized within Level 2 and Level 3 of the fair value hierarchy. Valuations are primarily determined using pricing data obtained from external pricing services and broker quotes and prices observed from 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 transaction data. Corporate loans categorized within Level 3 of the fair value hierarchy are measured based on 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 Agency Residential Loans: Valuations of participation certificates in agency residential loans are based on observed market prices of recently executed purchases and sales of similar loans. The loan participation certificates are categorized within Level 2 of the fair value hierarchy given the observability and volume of recently executed transactions and availability of data provider pricing. • Project Loans and Participation Certificates in GNMA Project and Construction Loans: Valuations of participation certificates in GNMA project and construction loans are based on inputs corroborated from and benchmarked to observed prices of recent securitizations of assets with similar underlying loan collateral to derive an implied spread. Securitization prices are adjusted to estimate the fair value of the loans incorporating an evaluation for various factors, including prepayment speeds, default rates, and cash flow structures as well as the likelihood of pricing levels in the current market environment. The measurements are categorized within Level 2 of the fair value hierarchy given the observability and volume of recently executed transactions. • Consumer Loans and Funding Facilities: Consumer and small business whole loans and related funding facilities are valued based on observed market transactions incorporating additional valuation inputs including, but not limited to, delinquency and default rates, prepayment rates, borrower characteristics, loan risk grades and loan age. These assets are categorized within Level 2 or Level 3 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, interest rate 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 and forwards, 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. • National Beef Derivatives: National Beef uses futures contracts in order to reduce its exposure associated with entering into firm commitments to purchase live cattle at prices determined prior to the delivery of the cattle as well as firm commitments to sell certain beef products at sales prices determined prior to shipment. The futures contracts and their related firm purchase commitments are accounted for at fair value, which are classified as Level 1 or Level 2 within the fair value hierarchy. Certain firm commitments for live cattle purchases and all firm commitments for sales are treated as normal purchases and sales and therefore not marked to market. Fair values classified as Level 1 are calculated based on the quoted market prices of identical assets or liabilities compared to National Beef's cost of those same assets or liabilities. Fair values classified as Level 2 are calculated based on the difference between the contracted price for live cattle and the relevant quoted market price for live cattle futures. • Oil Futures Derivatives: Vitesse uses swaps and call and put options in order to reduce exposure to future oil price fluctuations. Vitesse accounts for the derivative instruments at fair value, which are classified as Level 2 within the fair value hierarchy. Fair values classified as Level 2 are determined under the income valuation technique using an option-pricing model that is based on directly or indirectly observable inputs. Investments at Fair Value Investments at fair value included in Trading assets on the Consolidated Statements of Financial Condition 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 analysis 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 Jefferies defined benefit plan in Germany. Fair value for the insurance contracts are determined using a third party and is categorized within Level 3 of the fair value hierarchy. Investment in FXCM FXCM is an online provider of foreign exchange trading services. In January 2015, we entered into a credit agreement with FXCM, and provided FXCM a $300 million senior secured term loan due January 2017 (the term of which was subsequently extended by one year to January 2018), with rights to a variable proportion of certain future distributions in connection with an FXCM sale of assets or certain other events, and to require a sale of FXCM beginning in January 2018. The loan had an initial interest rate of 10% per annum, increasing by 1.5% per annum each quarter, not to exceed 20.5% per annum. During the nine months ended September 30, 2017 , interest accrued at 20.5% per annum. During the nine months ended September 30, 2017 , we received $111.3 million of principal and interest from FXCM and $67.6 million of principal remained outstanding under the term loan as of September 30, 2017 . Through September 30, 2017, we have received cumulatively $328.0 million of principal, interest and fees from our initial $279.0 million investment in FXCM. Through September 1, 2016, the total amount of our investment in FXCM was reported within Trading assets, at fair value in our Consolidated Statements of Financial Condition, and unrealized and realized changes in value, including the component related to interest income on the loan, were included within Principal transactions in the Consolidated Statements of Operations. We recorded gains (losses) in Principal transactions of $2.3 million and $17.6 million during the three and nine months ended September 30, 2017 , respectively, from our term loan and $42.7 million and $(58.3) million during the three and nine months ended September 30, 2016 , respectively, from our term loan and related rights. On September 1, 2016, we, Global Brokerage Inc. ("Global Brokerage" and formerly FXCM Inc.) and Global Brokerage Holdings entered into an agreement that amended the terms of our loan and associated rights. Among other changes, the amendments extended the maturity of the term loan by one year to January 2018 to allow FXCM more time to optimize remaining asset sales; gave Leucadia a 49.9% common membership interest in FXCM, and up to 65% of all distributions; created a six -member board for FXCM, comprised of three directors appointed by Leucadia and three directors appointed by Global Brokerage Holdings; put in place a long-term incentive program for FXCM's senior management; and gave Global Brokerage Holdings the same right Leucadia has to require a sale of FXCM beginning in January 2018. Distributions to Leucadia under the amended agreements are now: 100% until amounts due under the loan are repaid; 45% of the next $350 million ; then 79.2% of the next $500 million ; and 51.6% of all amounts thereafter. During February 2017, Global Brokerage Holdings and FXCM's U.S. subsidiary, Forex Capital Markets LLC ("FXCM U.S.") settled complaints filed by the National Futures Association ("NFA") and the Commodity Futures Trading Commission ("CFTC") against FXCM U.S. and certain of its principals relating to matters that occurred between 2010 and 2014. The NFA settlement has no monetary fine and the CFTC settlement has a $7 million fine. As part of the settlements, FXCM U.S. withdrew from business and agreed to sell FXCM U.S.'s customer accounts to Gain Capital Holdings, Inc. FXCM U.S. generated approximately 20% of FXCM's revenue, but was not profitable. FXCM also announced the implementation of a restructuring plan that included the termination of approximately 170 employees, which represented approximately 22% of its global workforce. The proceeds from the sale of the U.S. accounts, net of closure and severance costs, as well as regulatory capital released after a sale, has been used to pay down the Leucadia term loan. As part of the settlement, Leucadia, Global Brokerage Holdings and FXCM have amended the management and incentive compensation agreements, giving any three directors of the FXCM board the right to terminate management and any unvested incentive compensation at any time. On October 1, 2017, the management agreement between FXCM and Global Brokerage Holdings was terminated. We do not hold any equity interest in Global Brokerage, a publicly traded company and an issuer of senior convertible notes. Global Brokerage holds an economic interest of 74.5% in Global Brokerage Holdings, which in turn holds 50.1% of FXCM. As more fully described above, we own the remaining 49.9% of FXCM, and our senior secured term loan is also with FXCM, which is a holding company for all of FXCM's affiliated operating subsidiaries. Net profits and proceeds generated by these subsidiaries, and from the sales of these subsidiaries, flow first to FXCM, where they are applied to the outstanding balance of our term loan and then, in accordance with the agreement described above, to us and Global Brokerage Holdings. A portion of the profits and proceeds that flow to Global Brokerage Holdings then flow to Global Brokerage, in accordance with its economic interest. Through the amendments on September 1, 2016, our derivative rights were exchanged for a 49.9% common membership interest in FXCM and up to 65% of all distributions. We gained the ability to significantly influence FXCM through our common membership interest and our seats on the board of directors. As a result, we classify our equity investment in FXCM in our September 30, 2017 Consolidated Statement of Financial Condition as Loans to and investments in associated companies. We account for our equity interest on a one month lag. As the amendments only extended the maturity of the term loan, we continue to use the fair value option and classify our term loan within Trading assets, at fair value. FXCM is considered a variable interest entity ("VIE") and our term loan and equity ownership are variable interests. We have determined that we are not the primary beneficiary of FXCM because we do not have the power to direct the activities that most significantly impact FXCM's performance. Therefore, we do not consolidate FXCM and we account for our equity interest as an investment in an associated company. Our maximum exposure to loss as a result of our involvement with FXCM is limited to the carrying value of the term loan ( $70.8 million ) and the investment in associated company ( $170.6 million ), which totaled $241.4 million at September 30, 2017 . We estimate the fair value of our term loan by using a valuation model with inputs including management’s assumptions concerning the amount and timing of expected cash flows, the loan’s implied credit rating and effective yield. Because of these inputs and the degree of judgment involved, we have categorized our term loan within Level 3 of the fair value hierarchy. Nonrecurring Fair Value Measurements As described further in Note 9, in the first quarter of 2017 we engaged an independent valuation firm to assist management in estimating the fair value of our equity investment in FXCM. Our first quarter estimate of fair value was based on a discounted cash flow and comparable public company analysis and is categorized within Level 3 of the fair value hierarchy. The discounted cash flow valuation model used inputs including management's projections of future FXCM cash flows and a discount rate of approximately 15% . The comparable public company model used market data for comparable companies including a price to EBITDA multiple of 5.4 and a price to revenue multiple of 1.5 . The estimated fair value of our equity investment in FXCM was $186.7 million , which was $130.2 million lower than the carrying value at the end of the first quarter 2017. As a result, an impairment charge of $130.2 million was recorded in the first quarter of 2017. JETX owns unproved oil and gas properties that are included in Other assets in our Consolidated Statements of Financial Condition. As described further in Note 2, in the third quarter of 2016, JETX curtailed development of its southern acreage in the East Eagle Ford and its Houston County acreage and performed an impairment analysis of these unproved oil and gas properties. To measure the estimated fair value of the unproved properties, we used unobservable Level 3 inputs, which took into account the following factors: remaining lease terms, drilling results and/or future plans to develop the acreage. The estimated fair value of JETX's southern acreage in the East Eagle Ford and its Houston County acreage totaled $51.6 million , which was $55.0 million lower than the carrying value as of the end of third quarter of 2016. As a result, an impairment charge of $55.0 million was recorded in the third quarter of 2016. In the third quarter of 2017, JETX decided to focus on its other higher returning acreage and as a result JETX wrote off the remaining carrying value for its Houston County acreage. JETX recorded an impairment charge of $10.1 million in Selling, general and other expenses in the third quarter of 2017 related to the write-down of unproved oil and gas properties. Investments at Fair Value Based on NAV and Investments in Managed Funds Investments at fair value based on NAV and Investments in managed funds include investments in hedge funds, fund of funds, private equity funds and other funds, which are measured at the NAV of the funds, provided by the fund managers and are excluded from the fair value hierarchy. The following tables present information about our investments in entities that have the characteristics of an investment company (in thousands). Fair Value (1) Unfunded Commitments Redemption Frequency (if currently eligible) September 30, 2017 Equity Long/Short Hedge Funds (2) $ 406,280 $ — (2) Fixed Income and High Yield Hedge Funds (3) 421 — — Fund of Funds (4) 183 — — Equity Funds (5) 33,568 19,084 — Multi-asset Funds (6) 125,004 — — Total $ 565,456 $ 19,

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	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 material 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 and Trading liabilities, net of cash paid or received under credit support agreements and on a net counterparty basis when a legally enforceable right to offset exists under a master netting agreement. Predominantly, Jefferies and our Leucadia Asset Management businesses enter into derivative transactions to satisfy the needs of its clients and to manage its own exposure to market and credit risks resulting from its trading activities. In addition, Jefferies applies hedge accounting to an interest rate swap that has been designated as a fair value hedge of the changes in fair value due to the benchmark interest rate for certain fixed rate senior long-term debt. See Notes 3 and 20 for additional disclosures about derivative financial 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. See Note 10 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 September 30, 2017 and December 31, 2016 . The fair value of assets/liabilities represents our receivable/payable for derivative financial instruments, gross of counterparty netting and cash collateral received and pledged. The following tables also provide information regarding: 1) the extent to which, under enforceable master netting arrangements, such balances are presented net in our 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 financial position (in thousands, except contract amounts): Assets Liabilities Fair Value Number of Contracts Fair Value Number of Contracts September 30, 2017 Derivatives designated as accounting hedges - interest rate contracts $ 11,654 1 $ — — Derivatives not designated as accounting hedges: Interest rate contracts $ 1,777,254 17,997 $ 1,698,297 42,934 Foreign exchange contracts 370,203 5,690 369,971 6,733 Equity contracts 549,030 2,199,786 1,127,705 1,849,003 Commodity contracts 5 3,673 3,543 8,727 Credit contracts 75,867 303 90,678 389 Total 2,772,359 3,290,194 Counterparty/cash-collateral netting (1) (2,595,355 ) (2,714,115 ) Total derivatives not designated as accounting hedges $ 177,004 $ 576,079 Total per Consolidated Statement of Financial Condition (2) $ 188,658 $ 576,079 December 31, 2016 Derivatives not designated as accounting hedges: Interest rate contracts $ 3,282,245 29,032 $ 3,159,457 34,845 Foreign exchange contracts 529,669 7,826 516,869 8,319 Equity contracts 786,987 2,843,329 1,169,201 2,414,715 Commodity contracts 1,906 2,766 6,430 7,289 Credit contracts 26,269 311 28,065 20,084 Total 4,627,076 4,880,022 Counterparty/cash-collateral netting (1) (4,255,998 ) (4,229,213 ) Total per Consolidated Statement of Financial Condition (2) $ 371,078 $ 650,809 (1) Amounts netted include both netting by counterparty and for cash collateral paid or received. (2) We have not received or pledged additional collateral under master netting agreements and/or other credit support agreements that is eligible to be offset beyond what has been offset in the Consolidated Statements of Financial Condition. The following table provides information related to gains (losses) recognized in Interest expense of Jefferies in the Consolidated Statements of Operations on a fair value hedge (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Interest rate swaps $ 6,217 $ — $ 13,960 $ — Long-term debt (4,680 ) — (9,570 ) — Total $ 1,537 $ — $ 4,390 $ — The following table presents unrealized and realized gains (losses) on derivative contracts which are primarily recognized in Principal transactions revenues in the Consolidated Statements of Operations, which are utilized in connection with our client activities and our economic risk management activities (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Interest rate contracts $ (7,485 ) $ (27,354 ) $ 2,555 $ (101,744 ) Foreign exchange contracts 481 11,089 3,341 15,992 Equity contracts (142,931 ) (184,020 ) (294,635 ) (505,872 ) Commodity contracts (3,626 ) 2,777 (5,169 ) 351 Credit contracts (7,947 ) (3,616 ) 6,133 (3,812 ) Total $ (161,508 ) $ (201,124 ) $ (287,775 ) $ (595,085 ) The net gains (losses) on derivative contracts in the table above are one of a number of activities comprising Jefferies business activities and are before consideration of economic hedging transactions, which generally offset the net gains (losses) included above. Jefferies substantially mitigates its exposure to market risk on its cash instruments through derivative contracts, which generally provide offsetting revenues, and Jefferies manages the risk associated with these contracts in the context of its overall risk management framework. 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 September 30, 2017 (in thousands): OTC Derivative Assets (1) (2) (3) 0-12 Months 1-5 Years Greater Than 5 Years Cross- Maturity Netting (4) Total Commodity swaps, options and forwards $ — $ 5 $ — $ — $ 5 Equity swaps and options 5,117 3,204 — — 8,321 Credit default swaps 289 3,399 7,421 (26 ) 11,083 Total return swaps 11,411 5,823 — (2,458 ) 14,776 Foreign currency forwards, swaps and options 95,638 29,277 — (14 ) 124,901 Fixed income forwards 134 — — — 134 Interest rate swaps, options and forwards 49,714 171,691 98,719 (83,961 ) 236,163 Total $ 162,303 $ 213,399 $ 106,140 $ (86,459 ) 395,383 Cross product counterparty netting (70,712 ) Total OTC derivative assets included in Trading assets $ 324,671 (1) At September 30, 2017 , we held exchange traded derivative assets and other credit agreements with a fair value of $21.3 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 September 30, 2017 , cash collateral received was $157.3 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. OTC Derivative Liabilities (1) (2) (3) 0-12 Months 1-5 Years Greater Than 5 Years Cross-Maturity Netting (4) Total Commodity swaps, options and forwards $ 1,072 $ — $ — $ — $ 1,072 Equity swaps and options 2,980 146,505 2,631 — 152,116 Credit default swaps 1,077 23,931 — (26 ) 24,982 Total return swaps 11,666 1,802 — (2,458 ) 11,010 Foreign currency forwards, swaps and options 94,182 30,561 — (14 ) 124,729 Fixed income forwards 1,145 — — — 1,145 Interest rate swaps, options and forwards 30,735 97,284 102,566 (83,961 ) 146,624 Total $ 142,857 $ 300,083 $ 105,197 $ (86,459 ) 461,678 Cross product counterparty netting (70,712 ) Total OTC derivative liabilities included in Trading liabilities $ 390,966 (1) At September 30, 2017 , we held exchange traded derivative liabilities and other credit agreements with a fair value of $461.2 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 September 30, 2017 , cash collateral pledged was $276.0 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. At September 30, 2017 , 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 $ 143,935 BBB- to BBB+ 50,742 BB+ or lower 72,249 Unrated 57,745 Total $ 324,671 (1) Jefferies utilizes internal credit ratings determined by the Jefferies Risk Management department. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies. Credit Related Derivative Contracts The external credit ratings of the underlyings or referenced assets for our written credit related derivative contracts (in millions): External Credit Rating Investment Grade Non-investment grade Total Notional September 30, 2017 Credit protection sold: Index credit default swaps $ 1,103 $ 338 $ 1,441 Single name credit default swaps $ 139 $ 192 $ 331 December 31, 2016 Credit protection sold: Index credit default swaps $ 54 $ 92 $ 146 Single name credit default swaps $ 122 $ 261 $ 383 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 September 30, 2017 and December 31, 2016 is $65.2 million and $70.6 million , respectively, for which Jefferies has posted collateral of $51.4 million and $44.4 million , respectively, in the normal course of business. If the credit-risk-related contingent features underlying these agreements were triggered on September 30, 2017 and December 31, 2016 , Jefferies would have been required to post an additional $12.6 million and $26.1 million , respectively, of collateral to its counterparties. Other Derivatives National Beef uses futures contracts in order to reduce its exposure associated with entering into firm commitments to purchase live cattle at prices determined prior to the delivery of the cattle as well as firm commitments to sell certain beef products at sales prices determined prior to shipment. National Beef accounts for the futures contracts at fair value. Firm commitments for sales are treated as normal sales and therefore not marked to market. Certain firm commitments to purchase cattle, are marked to market when a price has been agreed upon, otherwise they are treated as normal purchases and, therefore, not marked to market. The gains and losses associated with the change in fair value of the futures contracts and offsetting gains and losses associated with changes in the market value of certain of the firm purchase commitments are recorded to income and expense in the period of change. Vitesse uses swaps and call and put options in order to reduce exposure to future oil price fluctuations. Vitesse accounts for the derivative instruments at fair value. The gains and losses associated with the change in fair value of the derivatives are recorded in income.

Collateralized Transactions

Collateralized Transactions	9 Months Ended
	Sep. 30, 2017
Collateralized Transactions [Abstract]
Collateralized Transactions	Collateralized Transactions Jefferies enters into secured borrowing and lending arrangements to obtain collateral necessary to effect settlement, finance 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 in Financial instruments owned and noted parenthetically as Securities pledged on our Consolidated Statements of Financial Condition. The following tables set forth the carrying value of securities lending arrangements and repurchase agreements by class of collateral pledged and remaining contractual maturity (in thousands): Collateral Pledged Securities Lending Arrangements Repurchase Agreements Total September 30, 2017 Corporate equity securities $ 2,183,030 $ 100,178 $ 2,283,208 Corporate debt securities 579,925 2,154,639 2,734,564 Mortgage- and asset-backed securities — 3,046,491 3,046,491 U.S. government and federal agency securities 298 12,046,271 12,046,569 Municipal securities — 389,752 389,752 Sovereign obligations — 1,577,231 1,577,231 Loans and other receivables — 524,645 524,645 Total $ 2,763,253 $ 19,839,207 $ 22,602,460 December 31, 2016 Corporate equity securities $ 2,046,243 $ 66,291 $ 2,112,534 Corporate debt securities 731,276 1,907,888 2,639,164 Mortgage- and asset-backed securities — 2,171,480 2,171,480 U.S. government and federal agency securities 41,613 9,232,624 9,274,237 Municipal securities — 553,010 553,010 Sovereign obligations — 2,625,079 2,625,079 Loans and other receivables — 455,960 455,960 Total $ 2,819,132 $ 17,012,332 $ 19,831,464 Contractual Maturity Overnight and Continuous Up to 30 Days 30 to 90 Days Greater than 90 Days Total September 30, 2017 Securities lending arrangements $ 1,490,137 $ — $ 783,633 $ 489,483 $ 2,763,253 Repurchase agreements 12,556,923 3,187,276 3,051,449 1,043,559 19,839,207 Total $ 14,047,060 $ 3,187,276 $ 3,835,082 $ 1,533,042 $ 22,602,460 December 31, 2016 Securities lending arrangements $ 2,131,891 $ 39,673 $ 104,516 $ 543,052 $ 2,819,132 Repurchase agreements 9,147,176 2,008,119 3,809,533 2,047,504 17,012,332 Total $ 11,279,067 $ 2,047,792 $ 3,914,049 $ 2,590,556 $ 19,831,464 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 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 September 30, 2017 and December 31, 2016 , the approximate fair value of securities received as collateral by Jefferies that may be sold or repledged was $27.2 billion and $25.5 billion , respectively. A substantial portion of these securities have been sold or repledged.

Securitization Activities

Securitization Activities	9 Months Ended
	Sep. 30, 2017
Securitization Activities [Abstract]
Securitization Activities	Securitization Activities Jefferies engages in securitization activities related to corporate loans, commercial mortgage loans, consumer 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 VIEs; however, the SPEs are generally not consolidated as Jefferies is not considered the primary beneficiary for these SPEs. 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 Principal transactions revenues in the Consolidated Statements of Operations prior to the identification and isolation for securitization. Subsequently, revenues recognized upon securitization are reflected as net underwriting revenues. 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 in the form of mortgage- and other asset-backed securities or CLOs), which are included in Trading assets and are generally initially categorized as Level 2 within the fair value hierarchy. Jefferies applies fair value accounting to the securities. The following table presents activity related to Jefferies securitizations that were accounted for as sales in which it had continuing involvement (in millions): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Transferred assets $ 1,009.1 $ 1,390.7 $ 2,677.7 $ 4,523.5 Proceeds on new securitizations $ 1,017.2 $ 1,394.0 $ 2,703.3 $ 4,541.3 Cash flows received on retained interests $ 8.7 $ 6.3 $ 22.7 $ 24.9 Jefferies has no explicit or implicit arrangements to provide additional financial support to these SPEs, has no liabilities related to these SPEs and has no outstanding derivative contracts executed in connection with these securitization activities at September 30, 2017 and December 31, 2016 . The following table summarizes Jefferies retained interests in SPEs where it transferred assets and has continuing involvement and received sale accounting treatment (in millions): September 30, 2017 December 31, 2016 Securitization Type Total Assets Retained Interests Total Assets Retained Interests U.S. government agency residential mortgage-backed securities $ 5,584.5 $ 13.9 $ 7,584.9 $ 31.0 U.S. government agency commercial mortgage-backed securities $ 2,103.7 $ 46.9 $ 1,806.3 $ 29.6 CLOs $ 2,936.1 $ 19.6 $ 4,102.2 $ 37.0 Consumer and other loans $ 301.4 $ 57.0 $ 395.7 $ 25.3 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 transactions 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 in total Trading assets in our Consolidated Statements of Financial Condition. 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. To the extent Jefferies purchased securities through these market-making activities and Jefferies is not deemed to be the primary beneficiary of the VIE, these securities are included in agency and non-agency mortgage- and asset-backed securitizations in the nonconsolidated VIEs section presented in Note 8. If Jefferies has not relinquished control over the transferred assets, the assets continue to be recognized in Trading assets and a corresponding liability is recognized in Other secured financings. The carrying values of both the assets and the liabilities resulting from transfers of financial assets treated as secured financings were $11.0 million at September 30, 2017 . Jefferies did not have any such assets and liabilities at December 31, 2016 . The related liabilities do not have recourse to our general credit. Foursight Capital also utilized SPEs to securitize automobile loans receivable. These SPEs are VIEs and our subsidiary is the primary beneficiary; the related assets and the secured borrowings are recognized in the Consolidated Statements of Financial Condition. These secured borrowings do not have recourse to our subsidiary’s general credit. See Note 8 for further information on securitization activities and VIEs.

Available for Sale Securities

Available for Sale Securities	9 Months Ended
	Sep. 30, 2017
Investments [Abstract]
Available for Sale Securities	Available for Sale Securities The amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as available for sale are as follows (in thousands): Amortized Gross Gross Estimated September 30, 2017 Bonds and notes: U.S. government securities $ 345,745 $ 15 $ 20 $ 345,740 Residential mortgage-backed securities 36,925 235 70 37,090 Commercial mortgage-backed securities 10,892 38 22 10,908 Other asset-backed securities 33,150 97 22 33,225 All other corporates 179 — — 179 Total fixed maturities 426,891 385 134 427,142 Equity securities: Common stocks: Banks, trusts and insurance companies 35,071 18,428 — 53,499 Industrial, miscellaneous and all other 17,836 22,020 — 39,856 Total equity securities 52,907 40,448 — 93,355 $ 479,798 $ 40,833 $ 134 $ 520,497 December 31, 2016 Bonds and notes: U.S. government securities $ 174,938 $ 8 $ 13 $ 174,933 Residential mortgage-backed securities 19,129 108 104 19,133 Commercial mortgage-backed securities 8,275 64 2 8,337 Other asset-backed securities 18,918 124 — 19,042 All other corporates 180 — 1 179 Total fixed maturities 221,440 304 120 221,624 Equity securities: Common stocks: Banks, trusts and insurance companies 35,071 15,115 — 50,186 Industrial, miscellaneous and all other 17,946 11,293 — 29,239 Total equity securities 53,017 26,408 — 79,425 $ 274,457 $ 26,712 $ 120 $ 301,049 The amortized cost and estimated fair value of investments classified as available for sale at September 30, 2017 , 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 Cost Estimated Fair Value (In thousands) Due within one year $ 345,745 $ 345,740 Due after one year through five years 179 179 345,924 345,919 Mortgage-backed and asset-backed securities 80,967 81,223 $ 426,891 $ 427,142 At September 30, 2017 , the unrealized losses on investments which have been in a continuous unrealized loss position 12 months or longer were not significant.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2017
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities VIEs are entities in which equity investors lack the characteristics of a controlling financial interest. VIEs are consolidated by the primary beneficiary. The primary beneficiary is the party who has both the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and 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. Our variable interests in VIEs include debt and equity interests, equity interests in associated companies, commitments, guarantees and certain fees. Our involvement with VIEs arises primarily from the following activities, but also includes other activities discussed below: • Purchases of securities in connection with our trading and secondary market-making activities; • Retained interests held as a result of securitization activities, including the resecuritization of mortgage- and other asset-backed securities and the securitization of commercial mortgage, corporate and consumer loans; • Acting as placement agent and/or underwriter in connection with client-sponsored securitizations; • Financing of agency and non-agency mortgage- and other asset-backed securities; • Real estate investments; • Warehousing funding arrangements for client-sponsored consumer loan vehicles and CLOs through participation certificates and revolving loan and note commitments; and • Loans to, investments in and fees from various investment vehicles. 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. Our considerations in determining the VIE’s most significant activities and whether we have power to direct those activities include, but are not limited to, the VIE’s purpose and design and the risks passed through to investors, the 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 significant activities is shared, we assess whether we are the party with the power over the most significant activities. If we are the party with the power over the most significant activities, we meet the "power" criteria of the primary beneficiary. If we do not have the power over the most 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. Consolidated VIEs The following table presents information about the assets and liabilities of our consolidated VIEs, which are presented in our Consolidated Statements of Financial Condition in the respective asset and liability categories (in millions). The assets and liabilities in the table below are presented prior to consolidation and thus a portion of these assets and liabilities are eliminated in consolidation. September 30, 2017 December 31, 2016 Securitization Vehicles Real Estate Investment Vehicles Securitization Vehicles Real Estate Investment Vehicles Cash $ 8.2 $ 1.6 $ 18.4 $ 2.2 Financial instruments owned 44.5 — 86.6 — Securities purchased under agreement to resell (1) 546.7 — 733.5 — Receivables 353.0 281.0 277.7 296.9 Loans to and investments in associated companies — 113.5 — 108.7 Other 19.9 4.4 14.5 10.8 Total assets $ 972.3 $ 400.5 $ 1,130.7 $ 418.6 Other secured financings (2) $ 930.8 $ — $ 1,083.8 $ — Long-term debt — 217.2 24.1 243.9 Other (3) 41.6 11.3 22.3 11.7 Total liabilities $ 972.4 $ 228.5 $ 1,130.2 $ 255.6 Noncontrolling interests $ — $ 104.1 $ — $ 98.7 (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 $49.2 million and $57.6 million of the secured financing represents an amount held by Jefferies in inventory and eliminated in consolidation at September 30, 2017 and December 31, 2016 , respectively. (3) Includes $36.4 million and $20.0 million at September 30, 2017 and December 31, 2016 , respectively, of intercompany payables that are eliminated in consolidation. Securitization Vehicles. Jefferies is the primary beneficiary of mortgage-backed financing vehicles to which Jefferies sells agency and non-agency residential and commercial mortgage loans and 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 and retained interests in securities issued. 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 and each such VIE’s assets are not available to satisfy any other debt. Jefferies is also the primary beneficiary of securitization vehicles associated with their financing of consumer and small business loans. In the creation of the securitization vehicles, Jefferies was involved in the decisions made during the establishment and design of the entities and holds variable interests consisting of the securities retained that could potentially be significant. The assets of the VIEs consist of the small business loans and term loans backed by consumer installment receivables, which are available for the benefit of the vehicles' beneficial interest holders. The creditors of the VIEs do not have recourse to Jefferies general credit and the assets of the VIEs are not available to satisfy any other debt. At September 30, 2017 and December 31, 2016 , Foursight Capital is the primary beneficiary of SPEs it utilized to securitize automobile loans receivable. Foursight Capital acts as the servicer for which it receives a fee, and owns an equity interest in the SPEs. The notes issued by the SPEs are secured solely by the assets of the SPEs and do not have recourse to Foursight Capital’s general credit and the assets of the VIEs are not available to satisfy any other debt. During the nine months ended September 30, 2017 , a pool of automobile loan receivables aggregating $186.5 million was securitized by Foursight Capital in connection with a secured borrowing offering. The majority of the proceeds from issuance of the secured borrowing were used to pay down Foursight Capital’s two credit facilities. Real Estate Investment Vehicles. 54 Madison, which we consolidate as a result of our control of the 54 Madison investment committee, has real estate investments in which it is the primary beneficiary. 54 Madison was involved in the decisions made during the establishment and design of the investment entities. 54 Madison variable interests consist of its investment in and management of the assets within these entities. The assets of these VIEs consist primarily of financing note receivables and investments in associated companies, which are available for the benefit of the VIEs' debt holders. The debt holders of these VIEs have recourse to 54 Madison's general credit and the assets of the VIEs are not available to satisfy any other debt. Nonconsolidated VIEs The following tables present information about our variable interests in nonconsolidated VIEs (in millions): Financial Statement Carrying Amount Maximum Exposure to Loss VIE Assets Assets Liabilities September 30, 2017 CLOs $ 62.7 $ 1.9 $ 800.1 $ 3,540.8 Consumer loan vehicles 195.8 — 761.9 2,287.2 Related party private equity vehicles 28.1 — 49.8 106.3 Real estate investment vehicles 88.3 — 99.7 83.9 Other private investment vehicles 132.6 — 142.7 4,840.2 Total $ 507.5 $ 1.9 $ 1,854.2 $ 10,858.4 December 31, 2016 CLOs $ 264.7 $ 4.8 $ 930.0 $ 4,472.9 Consumer loan vehicles 90.3 — 219.6 985.5 Related party private equity vehicles 37.6 — 63.6 155.6 Real estate investment vehicles 90.3 — 101.8 85.6 Other private investment vehicles 84.0 — 95.8 4,529.7 Total $ 566.9 $ 4.8 $ 1,410.8 $ 10,229.3 Our maximum exposure to loss often differs from the carrying value of the variable interests. The maximum exposure to loss is dependent on the nature of the variable interests in the VIEs and is limited to the notional amounts of certain loan and equity commitments and guarantees. Our maximum exposure to loss does not include the offsetting benefit of any financial instruments that may be utilized to hedge the risks associated with its variable interests and is not reduced by the amount of collateral held as part of a transaction with a VIE. Collateralized Loan Obligations. Assets collateralizing the CLOs include bank loans, participation interests and sub-investment grade and senior secured U.S. loans. Jefferies underwrites securities issued in CLO transactions on behalf of sponsors and provides advisory services to the sponsors. Jefferies may also sell corporate loans to the CLOs. Jefferies variable interests in connection with CLOs where it has been involved in providing underwriting and/or advisory services consist of the following: • Forward sale agreements whereby Jefferies commits to sell, at a fixed price, corporate loans and ownership interests in an entity holding such corporate loans to CLOs; • Warehouse funding arrangements in the form of participation interests in corporate loans held by CLOs and commitments to fund such participation interests; • Trading positions in securities issued in a CLO transaction; • Investments in variable funding notes issued by CLOs; and • A guarantee to a CLO managed by Jefferies Finance, whereby Jefferies guarantees certain of the obligations of Jefferies Finance to the CLO. Consumer Loan Vehicles. Jefferies provides financing and lending related services to certain client-sponsored VIEs in the form of revolving funding note agreements, revolving credit facilities and forward purchase agreements. The underlying assets, which are collateralizing the vehicles, are primarily composed of unsecured consumer and small business loans. In addition, Jefferies may provide structuring and advisory services and act as an underwriter or placement agent for securities issued by the vehicles. Jefferies does not control the activities of these entities. Related Party Private Equity Vehicles. Jefferies committed to invest equity in private equity funds (the "JCP Funds") managed by Jefferies Capital Partners, LLC (the "JCP Manager"). Additionally, Jefferies committed to invest equity in the general partners of the JCP Funds (the "JCP General Partners") and the JCP Manager. Jefferies variable interests in the JCP Funds, JCP General Partners and JCP Manager (collectively, the "JCP Entities") consist of equity interests that, in total, provide Jefferies with limited and general partner investment returns of the JCP Funds, a portion of the carried interest earned by the JCP General Partners and a portion of the management fees earned by the JCP Manager. Jefferies total equity commitment in the JCP Entities was $148.1 million , of which $126.3 million and $125.1 million had been funded as of September 30, 2017 and December 31, 2016 , respectively. The carrying value of Jefferies equity investments in the JCP Entities was $28.1 million and $37.6 million at September 30, 2017 and December 31, 2016 , respectively. Jefferies exposure to loss is limited to the total of its carrying value and unfunded equity commitment. The assets of the JCP Entities primarily consist of private equity and equity related investments. Jefferies has also provided a guarantee of a portion of Energy Partners I, LP's obligations under a credit agreement (“Energy Partners Credit Agreement”). Energy Partners I, LP, is a private equity fund owned and managed by certain of our employees. The maximum exposure to loss of the guarantee was $3.0 million at December 31, 2016 . Energy Partners I, LP has assets consisting primarily of debt and equity investments. The Energy Partners Credit Agreement was terminated in April 2017. Real Estate Investment Vehicles. 54 Madison has committed to invest $98.0 million in real estate investment vehicles, of which $86.5 million was funded as of September 30, 2017 . 54 Madison's maximum exposure to loss is limited to its carrying value and unfunded equity commitment. 54 Madison is not the primary beneficiary of the investment vehicles as it does not have the power to control the most important activities of the VIEs. The assets of the VIEs consist primarily of investments in real estate projects. Other Private Investment Vehicles. The carrying amount of our equity investment was $132.6 million and $84.0 million at September 30, 2017 and December 31, 2016 , respectively. Our unfunded equity commitment related to these investments totaled $10.1 million and $11.8 million at September 30, 2017 and December 31, 2016 , respectively. Our exposure to loss is limited to the total of our carrying value and unfunded equity commitment. These private investment vehicles have assets primarily consisting of private and public equity investments, debt instruments and various oil and gas assets. Mortgage- and Other Asset-Backed Securitization Vehicles. In connection with Jefferies secondary trading and market-making activities, Jefferies buys and sells agency and non-agency mortgage-backed securities and other asset-backed securities, which are issued by third party securitization SPEs and are generally considered variable interests in VIEs. Securities issued by securitization SPEs are backed by residential mortgage loans, U.S. agency collateralized mortgage obligations, commercial mortgage loans, CDOs and CLOs and other consumer loans, such as installment receivables, auto loans and student loans. These securities are accounted for at fair value and included in Trading assets in our Consolidated Statements of Financial Condition. Jefferies has no other involvement with the related SPEs and therefore does not consolidate these entities. Jefferies also engages in underwriting, placement and structuring activities for third-party-sponsored securitization trusts generally through agency (FNMA ("Fannie Mae"), Federal Home Loan Mortgage Corporation ("Freddie Mac") or GNMA ("Ginnie Mae")) or non-agency-sponsored SPEs and may purchase loans or mortgage-backed securities from third parties that are subsequently transferred into the securitization trusts. The securitizations are backed by residential and commercial mortgage, home equity and auto loans. Jefferies does not consolidate agency-sponsored securitizations as it does not have the power to direct the activities of the SPEs that most significantly impact their economic performance. Further, Jefferies is not the servicer of non-agency-sponsored securitizations and therefore does not have power to direct the most significant activities of the SPEs and accordingly, does not consolidate these entities. Jefferies may retain unsold senior and/or subordinated interests at the time of securitization in the form of securities issued by the SPEs. Jefferies transfers existing securities, typically mortgage-backed securities, into resecuritization vehicles. These transactions in which debt securities are transferred to a VIE in exchange for new beneficial interests occur in connection with both agency and non-agency-sponsored VIEs. The consolidation analysis is largely dependent on Jefferies role and interest in the resecuritization trusts. Most resecuritizations in which Jefferies is involved are in connection with investors seeking securities with specific risk and return characteristics. As such, Jefferies has concluded that the decision-making power is shared between Jefferies and the investor(s), considering the joint efforts involved in structuring the trust and selecting the underlying assets as well as the level of security interests the investor(s) hold in the SPE; therefore, Jefferies does not consolidate the resecuritization VIEs. At September 30, 2017 and December 31, 2016 , Jefferies held $2,026.7 million and $1,002.2 million of agency mortgage-backed securities, respectively, and $272.4 million and $439.4 million of non-agency mortgage- and other asset-backed securities, respectively, as a result of its secondary trading and market-making activities, underwriting, placement and structuring activities and resecuritization activities. Jefferies maximum exposure to loss on these securities is limited to the carrying value of its investments in these securities. Mortgage- and other asset-backed securitization vehicles discussed within this section are not included in the above table containing information about Jefferies variable interests in nonconsolidated VIEs. We also have a variable interest in a nonconsolidated VIE consisting of our equity interest in an associated company, Golden Queen. In addition, we have a variable interest in a nonconsolidated VIE consisting of our senior secured term loan receivable and equity interest in FXCM. See Notes 3 and 9 for further discussion.

Loans to and Investments In Ass

Loans to and Investments In Associated Companies	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Loans to and Investments in Associated Companies	Loans to and Investments in Associated Companies A summary of Loans to and investments in associated companies accounted for under the equity method of accounting during the nine months ended September 30, 2017 and 2016 is as follows (in thousands): Loans to and investments in associated companies as of January 1, Income (losses) related to associated companies Income (losses) related to Jefferies associated companies (1) Contributions to (distributions from) associated companies, net Other, including foreign exchange and unrealized gains (losses) Loans to and investments in associated companies as of September 30, 2017 Jefferies Finance $ 490,464 $ — $ 63,685 $ 109,899 $ — $ 664,048 Jefferies LoanCore 154,731 — 8,030 43,714 1,095 207,570 Berkadia 184,443 67,979 — (52,300 ) (174 ) 199,948 FXCM 336,258 (166,360 ) — — 731 170,629 Garcadia Companies 185,815 38,536 — (40,955 ) — 183,396 Linkem 154,000 (26,557 ) — 31,996 33,979 193,418 HomeFed 302,231 9,922 — 31,918 — 344,071 Golden Queen (2) 111,302 (3,684 ) — (59 ) — 107,559 54 Madison (3) 161,400 (4,495 ) — 21,159 — 178,064 Other 44,454 246 (6,392 ) 58,477 5,492 102,277 Total $ 2,125,098 $ (84,413 ) $ 65,323 $ 203,849 $ 41,123 $ 2,350,980 2016 Jefferies Finance $ 528,575 $ — $ (26,000 ) $ (19,300 ) $ — $ 483,275 Jefferies LoanCore 288,741 — 11,186 (133,635 ) — 166,292 Berkadia 190,986 59,456 — (70,847 ) 291 179,886 FXCM — — — — 334,500 334,500 Garcadia Companies 172,660 43,501 — (22,562 ) — 193,599 Linkem 150,149 (20,709 ) — 33,297 4,155 166,892 HomeFed 275,378 23,146 — — — 298,524 Golden Queen 114,323 (1,608 ) — — — 112,715 54 Madison — 3,389 — 123,731 3,642 130,762 Other 36,557 1,270 (1,048 ) 5,265 (3,401 ) 38,643 Total $ 1,757,369 $ 108,445 $ (15,862 ) $ (84,051 ) $ 339,187 $ 2,105,088 (1) Primarily classified in Investment banking revenues and Other revenues. (2) At September 30, 2017 and December 31, 2016 , the balance reflects $31.7 million and $32.8 million , respectively, related to a noncontrolling interest. (3) At September 30, 2017 and December 31, 2016 , the balance reflects $105.0 million and $95.3 million , respectively, related to noncontrolling interests. Income (losses) related to associated companies includes the following (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Berkadia $ 34,839 $ 26,004 $ 67,979 $ 59,456 FXCM (4,345 ) — (166,360 ) — Garcadia companies 12,565 14,233 38,536 43,501 Linkem (9,533 ) (5,836 ) (26,557 ) (20,709 ) HomeFed 238 800 9,922 23,146 Golden Queen (1,975 ) 56 (3,684 ) (1,608 ) 54 Madison (331 ) 906 (4,495 ) 3,389 Other (1,401 ) 340 246 1,270 Total $ 30,057 $ 36,503 $ (84,413 ) $ 108,445 Income (losses) related to Jefferies associated companies (primarily classified in Investment banking revenues and Other revenues) includes the following (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Jefferies Finance $ 13,509 $ 12,481 $ 63,685 $ (26,000 ) Jefferies LoanCore 1,656 3,172 8,030 11,186 Other (4,337 ) (263 ) (6,392 ) (1,048 ) Total $ 10,828 $ 15,390 $ 65,323 $ (15,862 ) Jefferies Finance Jefferies Finance, a joint venture entity pursuant to an agreement with Massachusetts Mutual Life Insurance Company(“MassMutual”), 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. Jefferies Finance may also originate 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 and acts as an investment advisor for various loan funds. In July 2017, the Jefferies equity commitment to Jefferies Finance was increased by $150.0 million to $750.0 million , of which Jefferies contributed $74.8 million in July 2017. At September 30, 2017 , Jefferies and MassMutual each had equity commitments to Jefferies Finance of $750.0 million . At September 30, 2017 , $612.1 million of Jefferies commitment was funded. The investment commitment is scheduled to expire on March 1, 2018 with automatic one year extensions absent 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 Secured Revolving Credit Facility is for a total committed amount of $500.0 million at September 30, 2017 and December 31, 2016 . Advances are shared equally between Jefferies and MassMutual. The facility is scheduled to mature on March 1, 2018 with automatic one year extensions absent a 60 -day termination notice by either party. At September 30, 2017 and December 31, 2016 , $35.1 million and $0.0 million , respectively, of Jefferies $250.0 million commitment was funded. Jefferies engages in debt capital markets transactions with Jefferies Finance related to the originations and syndications of loans by Jefferies Finance. In connection with such services, Jefferies earned fees of $104.2 million and $19.0 million during the three months ended September 30, 2017 and 2016 , respectively, and $243.5 million and $42.1 million during the nine months ended September 30, 2017 and 2016 , respectively, which are recognized in Investment banking revenues in the Consolidated Statements of Operations. In addition, Jefferies paid fees to Jefferies Finance in respect of certain loans originated by Jefferies Finance of $2.5 million and $1.6 million during the nine months ended September 30, 2017 and 2016 , respectively, which are recognized within Selling, general and other expenses in the Consolidated Statements of Operations. Jefferies acts as a placement agent for CLOs managed by Jefferies Finance, for which Jefferies recognized fees of $0.8 million and $1.3 million during the three months ended September 30, 2017 and 2016 , respectively, and $4.7 million and $1.3 million during the nine months ended September 30, 2017 and 2016 , respectively, which are included in Investment banking revenues in the Consolidated Statements of Operations. At September 30, 2017 and December 31, 2016 , Jefferies held securities issued by CLOs managed by Jefferies Finance, which are included in Trading assets, and provided a guarantee, whereby Jefferies is required to make certain payments to a CLO in the event Jefferies Finance is unable to meet its obligations to the CLO. Additionally, Jefferies has entered into participation agreements and derivative contracts with Jefferies Finance based upon certain securities issued by the CLO. Gains (losses) related to the derivative contracts were not material. Under a service agreement, Jefferies charged Jefferies Finance $7.9 million and $7.2 million for services provided during the three months ended September 30, 2017 and 2016 , respectively, and $37.4 million and $35.8 million for services provided during the nine months ended September 30, 2017 and 2016 , respectively. At September 30, 2017 , Jefferies had a receivable from Jefferies Finance, included in Other assets in the Consolidated Statement of Financial Condition, of $22.5 million . At December 31, 2016 , Jefferies had a payable to Jefferies Finance, included in Payables, expense accruals and other liabilities in the Consolidated Statement of Financial Condition, of $5.8 million . Jefferies LoanCore Jefferies LoanCore, a commercial real estate finance company, is a joint venture with the Government of Singapore Investment Corporation, the Canada Pension Plan Investment Board and LoanCore, LLC. Jefferies LoanCore originates and purchases commercial real estate loans throughout the U.S. and Europe. Jefferies LoanCore aggregate equity commitment was $400.0 million at September 30, 2017 and December 31, 2016 . At September 30, 2017 and December 31, 2016 , Jefferies had funded $130.6 million and $70.1 million , respectively, of its $194.0 million equity commitment, and has a 48.5% voting interest in Jefferies LoanCore. Jefferies LoanCore has entered into master repurchase agreements with Jefferies. Jefferies recognized interest income and fees related to these agreements of $1.8 million and $6.9 million , during the three and nine months ended September 30, 2016 , respectively. Amounts for the 2017 periods were not material. In connection with such master repurchase agreements, at December 31, 2016 , Jefferies had securities purchased with agreements to resell from Jefferies LoanCore of $68.1 million . Jefferies also enters into OTC foreign exchange contracts with Jefferies LoanCore. In connection with these contracts, Jefferies had $5.0 million and $8.3 million at September 30, 2017 and December 31, 2016 , respectively, recorded in Payables, expense accruals and other liabilities in the Consolidated Statements of Financial Condition. On October 31, 2017, Jefferies sold all of its membership interests in Jefferies LoanCore for approximately $170 million , the estimated book value as of October 31, 2017. In addition, Jefferies may be entitled to additional cash consideration over the next five years in the event Jefferies LoanCore's yearly return on equity exceeds certain thresholds. Berkadia Berkadia 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 September 30, 2017 , cumulative cash distributions received by Leucadia from this investment aggregated $546.9 million . Berkadia originates commercial/multifamily real estate loans that are sold to U.S. government agencies, and originates and brokers commercial/multifamily mortgage loans which are not part of government agency programs. Berkadia is an investment sales advisor focused on the multifamily industry. 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 $1.5 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 September 30, 2017 , the aggregate amount of commercial paper outstanding was $1.47 billion . FXCM As discussed more fully in Note 3, at September 30, 2017 , Leucadia has a 49.9% common membership interest in FXCM and a senior secured term loan to FXCM due January 2018. On September 1, 2016, we gained the ability to significantly influence FXCM through our common membership interest and our seats on the board of directors. As a result, we classify our equity investment in FXCM in our Consolidated Statements of Financial Condition as Loans to and investments in associated companies. Our term loan remains classified within Trading assets, at fair value. We account for our equity interest in FXCM on a one month lag. We are amortizing our basis difference between the estimated fair value and the underlying book value of FXCM customer relationships, technology, trade name, leases and long-term debt over their respective useful lives. Based on the February 2017 actions described further in Note 3, we evaluated in the first quarter of 2017 whether our equity method investment was fully recoverable. We engaged an independent valuation firm to assist management in estimating the fair value of FXCM. Our estimate of fair value was based on a discounted cash flow and comparable public company analysis. The result of our analysis indicated that the estimated fair value of our equity interest in FXCM was lower than our carrying value by $130.2 million . We concluded based on the regulatory actions, FXCM's restructuring plan described further in Note 3, investor perception and declines in the trading price of Global Brokerage's common shares and convertible debt, that the decline in fair value of our equity interest was other than temporary. As such, we impaired our equity investment in FXCM in the first quarter of 2017 by $130.2 million . FXCM is considered a VIE and our term loan and equity interest are variable interests. We have determined that we are not the primary beneficiary of FXCM because we do not have the power to direct the activities that most significantly impact FXCM's performance. Therefore, we do not consolidate FXCM. Garcadia Garcadia is a joint venture between us and Garff Enterprises, Inc. ("Garff") that owns and operates 28 automobile dealerships comprised of domestic and foreign automobile makers. The Garcadia joint venture agreement specifies that we and Garff shall have equal board representation and equal votes on all matters affecting Garcadia, and that all cash flows from Garcadia will be allocated 65% to us and 35% to Garff, with the exception of one dealership from which we receive 83% of all cash flows and four other dealerships from which we receive 71% of all cash flows. Garcadia’s strategy is to acquire automobile dealerships in primary or secondary market locations meeting its specified return criteria. Linkem We own approximately 42% of the common shares of Linkem, a fixed wireless broadband services provider in Italy. In addition, we own 5% convertible preferred stock, which is automatically convertible to common shares in 2020. If all of our convertible preferred stock was converted, it would increase our ownership to approximately 53% of Linkem’s common equity at September 30, 2017 . 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 September 30, 2017 , we own 10,852,123 shares of HomeFed’s common stock, representing approximately 70% 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 develops and owns residential and mixed-use real estate properties. 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 4.8% of HomeFed is beneficially owned by our Chairman at September 30, 2017 . Three of our executives serve on the board of directors of HomeFed, including our Chairman who serves as HomeFed’s Chairman, and our President. Since we do not control HomeFed, our investment in HomeFed is accounted for as an investment in an associated company. Golden Queen Mining Company During 2014 and 2015, we invested $83.0 million , net in cash in a limited liability company (Gauss LLC) to partner with the Clay family and Golden Queen Mining Co. Ltd., to jointly fund, develop and operate the Soledad Mountain gold and silver mine project. Previously 100% owned by Golden Queen Mining Co. Ltd., the project is a fully-permitted, open pit, heap leach gold and silver project located in Kern County, California, which commenced gold and silver production in March 2016. In exchange for a noncontrolling ownership interest in Gauss LLC, the Clay family contributed $34.5 million , net in cash. Gauss LLC invested both our and the Clay family’s net contributions totaling $117.5 million to the joint venture, Golden Queen, in exchange for a 50% ownership interest. Golden Queen Mining Co. Ltd. contributed the Soledad Mountain project to the joint venture in exchange for the other 50% interest. As a result of our consolidating Gauss LLC, our Loans to and investments in associated companies reflects Gauss LLC’s net investment of $117.5 million in the joint venture, which includes both the amount we contributed and the amount contributed by the Clay family. The joint venture, Golden Queen, is considered a VIE as the voting rights of the investors are not proportional to their obligations to absorb the expected losses and their rights to receive the expected residual returns, given the provision of services to the joint venture by Golden Queen Mining Co. Ltd. Golden Queen Mining Co. Ltd. has entered into an agreement with the joint venture for the provision of executive officers, financial, managerial, administrative and other services, and office space and equipment. We have determined that we are not the primary beneficiary of the joint venture and are therefore not consolidating its results. Our maximum exposure to loss as a result of our involvement with the joint venture is limited to our investment. The excess of Gauss LLC's investment in Golden Queen's underlying book value is being amortized to expense over the estimated life of mine gold and silver sales. 54 Madison We own approximately 48.1% of 54 Madison, which we consolidate as a result of our control of the 54 Madison investment committee. 54 Madison seeks long-term capital appreciation through investment in real estate development and similar projects. 54 Madison invests both in projects which they consolidate and projects where they have significant influence and utilize the equity method of accounting. Through September 30, 2017 , 54 Madison invested an aggregate net amount of $178.3 million in projects accounted for under the equity method and $105.2 million of that was contributed from noncontrolling interests. Other The following table provides summarized data for certain associated companies (Jefferies Finance, Jefferies LoanCore, Berkadia, Garcadia, Linkem and HomeFed) (in thousands): For the Nine Months Ended September 30, 2017 2016 Revenues $ 3,101,152 $ 2,839,721 Income from continuing operations before extraordinary items $ 291,261 $ 161,514 Net income $ 291,261 $ 165,184

Financial Statement Offsetting

Financial Statement Offsetting	9 Months Ended
	Sep. 30, 2017
Offsetting [Abstract]
Financial Statement Offsetting	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. 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. In cases where Jefferies has not determined an agreement to be enforceable, the related amounts are not offset. 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 contracts or 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. (In thousands) Gross Amounts Netting in Consolidated Statements of Financial Condition Net Amounts in Consolidated Statements of Financial Condition Additional Amounts Available for Setoff (1) Available Collateral (2) Net Amount (3) Assets at September 30, 2017 Derivative contracts $ 2,784,013 $ (2,595,355 ) $ 188,658 $ — $ — $ 188,658 Securities borrowing arrangements $ 7,758,532 $ — $ 7,758,532 $ (662,882 ) $ (952,004 ) $ 6,143,646 Reverse repurchase agreements $ 14,737,223 $ (11,365,788 ) $ 3,371,435 $ (307,453 ) $ (3,037,903 ) $ 26,079 Liabilities at September 30, 2017 Derivative contracts $ 3,290,194 $ (2,714,115 ) $ 576,079 $ — $ — $ 576,079 Securities lending arrangements $ 2,763,253 $ — $ 2,763,253 $ (662,882 ) $ (2,058,137 ) $ 42,234 Repurchase agreements $ 19,839,207 $ (11,365,788 ) $ 8,473,419 $ (307,453 ) $ (7,216,449 ) $ 949,517 Assets at December 31, 2016 Derivative contracts $ 4,627,076 $ (4,255,998 ) $ 371,078 $ — $ — $ 371,078 Securities borrowing arrangements $ 7,743,562 $ — $ 7,743,562 $ (710,611 ) $ (647,290 ) $ 6,385,661 Reverse repurchase agreements $ 14,083,144 $ (10,220,656 ) $ 3,862,488 $ (176,275 ) $ (3,591,654 ) $ 94,559 Liabilities at December 31, 2016 Derivative contracts $ 4,880,022 $ (4,229,213 ) $ 650,809 $ — $ — $ 650,809 Securities lending arrangements $ 2,819,132 $ — $ 2,819,132 $ (710,611 ) $ (2,064,299 ) $ 44,222 Repurchase agreements $ 17,012,332 $ (10,220,656 ) $ 6,791,676 $ (176,275 ) $ (5,780,909 ) $ 834,492 (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 a counterparty in the event of a counterparty’s default, but which are not netted in the balance sheet because other provisions of 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 September 30, 2017 , amounts include $6,088.9 million of securities borrowing arrangements, for which we have received securities collateral of $5,942.3 million , and $887.2 million of repurchase agreements, for which we have pledged securities collateral of $908.8 million , which are subject to master netting agreements but we have not determined the agreements to be legally enforceable. At December 31, 2016 , amounts include $6,337.5 million of securities borrowing arrangements, for which we have received securities collateral of $6,146.0 million , and $810.4 million of repurchase agreements, for which we have pledged securities collateral of $834.2 million , which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.

Intangible Assets, Net and Good

Intangible Assets, Net and Goodwill	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net And Goodwill	Intangible Assets, Net and Goodwill A summary of Intangible assets, net and goodwill is as follows (in thousands): September 30, 2017 December 31, 2016 Indefinite-lived intangibles: Exchange and clearing organization membership interests and registrations $ 8,734 $ 9,041 Amortizable intangibles: Customer and other relationships, net of accumulated amortization of $222,095 and $198,674 355,253 378,136 Trademarks and tradename, net of accumulated amortization of $91,350 and $78,778 297,349 309,382 Supply contracts, net of accumulated amortization of $55,047 and $47,867 88,553 95,733 Other, net of accumulated amortization of $3,642 and $2,914 4,944 5,672 Total intangible assets, net 754,833 797,964 Goodwill: National Beef 14,991 14,991 Jefferies 1,699,609 1,696,864 Other operations 3,859 3,859 Total goodwill 1,718,459 1,715,714 Total Intangible assets, net and goodwill $ 2,473,292 $ 2,513,678 Amortization expense on intangible assets was $15.4 million and $15.8 million for the three months ended September 30, 2017 and 2016 , respectively, and $43.6 million and $47.1 million for the nine months ended September 30, 2017 and 2016 , respectively. The estimated aggregate future amortization expense for the intangible assets for each of the next five years is as follows (in thousands): Remainder of current year $ 14,612 2018 $ 58,454 2019 $ 58,454 2020 $ 58,455 2021 $ 58,067 Goodwill and Intangible Impairment Testing We performed our annual impairment testing of Jefferies goodwill as of August 1, 2017. The quantitative goodwill impairment test is performed at our reporting unit level and consists of two steps. In the first step, the fair value of the reporting unit is compared with its carrying value, including goodwill and allocated intangible assets. If the fair value is in excess of the carrying value, the goodwill for the reporting unit is considered not to be impaired. If the fair value is less than the carrying value, then a second step is performed in order to measure the amount of the impairment loss, if any, which is based on comparing the implied fair value of the reporting unit’s goodwill to the carrying value of the reporting unit’s goodwill. The estimated fair value of Jefferies is based on 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 price-to-earnings and price-to-book multiples of comparable public companies and/or projected cash flows. In addition, as the fair values determined under the market approach represent a noncontrolling interest, we applied a control premium to arrive at the estimated fair value of our reporting units on a controlling basis. An independent valuation specialist was engaged to assist with the valuation process for Jefferies at August 1, 2017. The results of our annual goodwill impairment test for Jefferies did not indicate any goodwill impairment. Jefferies performed its annual impairment testing of intangible assets with an indefinite useful life, which consists of exchange and clearing organization membership interests and registrations, at August 1, 2017. Jefferies elected to perform a quantitative assessment of membership interests and registrations that have available quoted sales prices as well as certain other membership interests and registrations that have declined in utilization. A qualitative assessment was performed on the remainder of its indefinite-life intangible assets. With regard to its qualitative assessment of the remaining indefinite-life intangible assets, based on its assessment of market conditions, the utilization of the assets and the replacement costs associated with the assets, Jefferies has concluded that it is not more likely than not that the intangible assets are impaired. Jefferies recognized an immaterial impairment loss on certain exchange membership interests and registrations during the nine months ended September 30, 2017 .

Inventory

Inventory	9 Months Ended
	Sep. 30, 2017
Inventory, Net [Abstract]
Inventory	Inventory A summary of inventory, which is classified as Other assets, is as follows (in thousands): September 30, 2017 December 31, 2016 Finished goods $ 238,752 $ 243,488 Work in process 35,234 35,714 Raw materials, supplies and other 32,333 30,733 Total inventory $ 306,319 $ 309,935

Short-Term Borrowings

Short-Term Borrowings	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Short-Term Borrowings	Short-Term Borrowings Jefferies short-term borrowings, which mature in one year or less, are as follows (in thousands): September 30, 2017 December 31, 2016 Bank loans $ 304,537 $ 372,301 Secured revolving loan facilities — 57,086 Floating rate puttable notes 108,304 96,455 Equity-linked notes 4,281 — Total short-term borrowings $ 417,122 $ 525,842 At September 30, 2017 and December 31, 2016 , the weighted average interest rate on short-term borrowings outstanding is 2.00% and 1.77% per annum, respectively. During the nine months ended September 30, 2017 , Jefferies issued equity-linked notes with a principal amount of $30.6 million which matured on July 18, 2017. The remaining equity-linked notes will mature in the fourth quarter of 2017. See Note 3 for further information. The Bank of New York Mellon agrees to make revolving intraday credit advances (“Intraday Credit Facility”) for an aggregate committed amount of $250.0 million . The Intraday Credit Facility contains a financial covenant, which includes a minimum regulatory net capital requirement for Jefferies. Interest is based on the higher of the Federal funds effective rate plus 0.5% or the prime rate. At September 30, 2017 , Jefferies was in compliance with debt covenants under the Intraday Credit Facility. In October 2015, Jefferies entered into a secured revolving loan facility (“First Secured Revolving Loan Facility”) whereby the lender agreed to make available a revolving loan facility in a maximum principal amount of $50.0 million to purchase eligible receivables that met certain requirements as defined in the First Secured Revolving Loan Facility agreement. Interest was based on an annual rate equal to the lesser of the LIBOR rate plus 3.75% or the maximum rate as defined in the First Secured Revolving Loan Facility agreement. In December 2015, Jefferies entered into a second secured revolving loan facility (“Second Secured Revolving Loan Facility”) whereby the lender agreed to make available a revolving loan facility in a maximum principal amount of $50.0 million to purchase eligible receivables that met certain requirements as defined in the Second Secured Revolving Loan Facility agreement. Interest was based on an annual rate equal to the lesser of the LIBOR rate plus 4.25% or the maximum rate as defined in the Second Secured Revolving Loan Facility agreement. The First Secured Revolving Loan Facility was terminated effective December 6, 2016. The Second Secured Revolving Loan Facility was terminated effective January 24, 2017.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2017
Aggregate Indebtedness [Abstract]
Long-Term Debt	Long-Term Debt The principal amount (net of unamortized discounts and premiums), stated interest rate and maturity date of outstanding debt are as follows (dollars in thousands): September 30, 2017 December 31, 2016 Parent Company Debt: Senior Notes: 5.50% Senior Notes due October 18, 2023, $750,000 principal $ 742,072 $ 741,264 6.625% Senior Notes due October 23, 2043, $250,000 principal 246,661 246,627 Total long-term debt – Parent Company 988,733 987,891 Subsidiary Debt (non-recourse to Parent Company): Jefferies: 5.125% Senior Notes, due April 13, 2018, $707,000 and $800,000 principal 714,115 817,813 8.50% Senior Notes, due July 15, 2019, $684,000 and $700,000 principal 739,465 778,367 2.375% Euro Medium Term Notes, due May 20, 2020, $595,075 and $529,975 principal 593,547 528,250 6.875% Senior Notes, due April 15, 2021, $750,000 principal 812,131 823,797 2.25% Euro Medium Term Notes, due July 13, 2022, $4,761 and $4,240 principal 4,374 3,848 5.125% Senior Notes, due January 20, 2023, $600,000 principal 616,378 618,355 4.85% Senior Notes, due January 15, 2027, $750,000 principal (1) 753,932 — 6.45% Senior Debentures, due June 8, 2027, $350,000 principal 376,307 377,806 3.875% Convertible Senior Debentures, due November 1, 2029, $345,000 principal 345,217 346,163 6.25% Senior Debentures, due January 15, 2036, $500,000 principal 512,131 512,396 6.50% Senior Notes, due January 20, 2043, $400,000 principal 421,078 421,333 Structured Notes (2) 561,010 255,203 National Beef Reducing Revolver Loan 87,500 — National Beef Revolving Credit Facility 21,821 — National Beef Term Loan — 273,811 54 Madison Term Loans 313,727 406,028 Foursight Capital Credit Facilities 114,329 97,138 Other 116,847 132,244 Total long-term debt – subsidiaries 7,103,909 6,392,552 Long-term debt $ 8,092,642 $ 7,380,443 (1) Amount includes $9.6 million associated with an interest rate swap based on its designation as a fair value hedge. See Notes 2 and 4 for further information. (2) Includes $553.9 million and $248.9 million at fair value at September 30, 2017 and December 31, 2016 , respectively. Subsidiary Debt : Jefferies 3.875% Convertible Senior Debentures due 2029 are convertible into our common shares; each $1,000 are convertible into 22.9719 common shares (equivalent to a conversion price of approximately $43.53 per share). 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. During the nine months ended September 30, 2017 , Jefferies issued structured notes with a total principal amount of approximately $287.5 million , net of retirements. Structured notes of $553.9 million and $248.9 million at September 30, 2017 and December 31, 2016 , respectively, contain various interest rate payment terms and are accounted for at fair value, with changes in fair value resulting from a change in the instrument specific credit risk presented in Accumulated other comprehensive income and changes in fair value resulting from non-credit components recognized in Principal transaction revenues. In January 2017, Jefferies issued 4.85% senior notes with a principal amount of $750.0 million , due 2027. In June 2017, National Beef entered into a Third Amended and Restated Credit Agreement (the "Debt Agreement"). The Debt Agreement matures in June 2022 and includes a $275.0 million reducing revolver loan and a $275.0 million revolving credit facility. The reducing revolver loan commitment decreases by $13.8 million on each annual anniversary of the Debt Agreement. The Debt Agreement is secured by a first priority lien on substantially all of the assets of National Beef and its subsidiaries and includes customary covenants including a single financial covenant that requires National Beef to maintain a minimum tangible net worth; at September 30, 2017 , National Beef was in compliance with the covenants. At September 30, 2017 , National Beef’s outstanding debt under the Debt Agreement consisted of a reducing revolver loan with an outstanding balance of $87.5 million and $21.8 million drawn on the revolving credit facility. The reducing revolving loan and the revolving credit facility bear interest at the Base Rate or the LIBOR Rate (as defined in the Debt Agreement), plus a margin ranging from 0.75% to 2.75% depending upon certain financial ratios and the rate selected. At September 30, 2017 , the interest rate on the outstanding reducing revolving loan was 2.98% and the interest rate on the outstanding revolving credit facility was 5.00% . Borrowings under the reducing revolver loan and the revolving credit facility are available for National Beef’s working capital requirements, capital expenditures and other general corporate purposes. Unused capacity under the revolving credit facility can also be used to issue letters of credit; letters of credit aggregating $13.9 million were outstanding at September 30, 2017 . Amounts available under the revolving credit facility are subject to a borrowing base calculation primarily comprised of receivable and inventory balances; amounts available under the reducing revolver facility are constrained only by the annual reduction in the commitment amount. At September 30, 2017 , after deducting outstanding amounts and issued letters of credit, $198.1 million of the unused revolving credit facility and $187.5 million of the reducing revolver commitment was available to National Beef. 54 Madison seeks long-term capital appreciation through real estate development and similar projects. Many of these development projects are funded through long-term debt at the project level. The debt holders do not have recourse to the Leucadia parent company. At September 30, 2017 , 54 Madison had $62.6 million of 6.0% term loan debt maturing in January 2018, $96.5 million of 5.5% term loan debt maturing in February 2019, $0.5 million of 3.5% term loan debt maturing in March 2019, $52.0 million of 4.15% term loan debt maturing in April 2019, $101.6 million of 5.5% term loan debt maturing in January 2020 and $0.5 million of 3.5% term loan debt maturing in January 2020. As discussed further in Note 23, the majority of the debt holders are also investors in 54 Madison. At September 30, 2017 , Foursight Capital's credit facilities consisted of two warehouse credit commitments aggregating $225.0 million , which mature in March 2019 and July 2020. The 2019 credit facility bears interest based on the three-month LIBOR plus a credit spread fixed through its maturity and the 2020 credit facility bears interest based on the one-month LIBOR plus a credit spread fixed through its maturity. As a condition of the 2019 credit facility, Foursight Capital is obligated to maintain cash reserves in an amount equal to the quoted price of an interest rate cap sufficient to meet the hedging requirements of the credit commitment. The credit facilities are secured by first priority liens on auto loan receivables owed to Foursight Capital of approximately $140.0 million at September 30, 2017 .

Mezzanine Equity

Mezzanine Equity	9 Months Ended
	Sep. 30, 2017
Temporary Equity Disclosure [Abstract]
Mezzanine Equity	Mezzanine Equity Redeemable Noncontrolling Interests Redeemable noncontrolling interests primarily relate to National Beef and are held by its minority owners, 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. Holders of the put rights had from December 30, 2016 through January 29, 2017 to make an election that would require us to purchase up to one-third of their interests. The holders of the put rights did not make such election. 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 rolls forward National Beef’s redeemable noncontrolling interests activity during the nine months ended September 30, 2017 and 2016 (in thousands): For the Nine Months Ended September 30, 2017 2016 As of January 1, $ 321,962 $ 189,358 Income allocated to redeemable noncontrolling interests 65,088 40,225 Distributions to redeemable noncontrolling interests (37,029 ) (18,460 ) Increase (decrease) in fair value of redeemable noncontrolling interests 24,404 134,503 Balance, September 30, $ 374,425 $ 345,626 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 September 30, 2017 , we calculated the fair value of the redeemable noncontrolling interests by updating our estimate of future cash flows. 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 ( 11.9% ) and the terminal growth rate ( 2.0% ) 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 September 30, 2017 (dollars in millions): Discount Rates Terminal Growth Rates 11.65% 11.90% 12.15% 1.75% $ 379.3 $ 370.7 $ 362.6 2.00% $ 383.2 $ 374.4 $ 366.0 2.25% $ 387.4 $ 378.3 $ 369.7 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 September 30, 2017 and December 31, 2016 , redeemable noncontrolling interests also include other redeemable noncontrolling interests of $14.1 million and $14.8 million , respectively, primarily related to our oil and gas exploration and development businesses. Mandatorily Redeemable Convertible Preferred Shares In connection with our acquisition of Jefferies in March 2013, 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 holders of the Preferred Shares are also entitled to an additional quarterly payment in the event we declare and pay a dividend on our common stock in an amount greater than $0.0625 per common share per quarter. The additional quarterly payment would be paid to the holders of Preferred Shares on an as converted basis and on a per share basis would equal the quarterly dividend declared and paid to a holder of a share of common stock in excess of $0.0625 per share. In the third quarter of 2017 we increased our quarterly dividend from $0.0625 to $0.10 per common share. This increased the preferred stock dividend from $1.0 million in the third quarter of 2016 to $1.2 million in the third quarter of 2017. 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.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2017
Share-based Compensation [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans Restricted Stock and Restricted Stock Units. Restricted stock and restricted stock units (“RSUs”) may be granted to new employees as “sign-on” awards, to existing employees as “retention” awards and to certain executive officers as awards for multiple years. Sign-on and retention awards are generally subject to annual ratable vesting over a four -year service period and are amortized as compensation expense on a straight-line basis over the related four years. Restricted stock and RSUs are granted to certain senior executives with market, performance and service conditions. Market conditions are incorporated into the grant-date fair value of senior executives' awards using a Monte Carlo valuation model. Compensation expense for awards with market conditions is recognized over the service period and is not reversed if the market condition is not met. Awards with performance conditions are amortized over the service period if it is determined that it is probable that the performance condition will be achieved. Senior Executive Compensation Plan. In January 2017, the Compensation Committee of our Board of Directors approved an executive compensation plan for our CEO and our President (together, our "Senior Executives") in respect of 2017 that is based on performance metrics achieved over a three -year period from 2017 through 2019. This executive compensation plan is identical to the 2016 executive compensation plan where cash incentive bonuses were eliminated. 100% of each of our CEO and President's compensation beyond their base salaries is composed entirely of performance based RSUs that will vest at the end of 2019 if certain performance criteria are met. Any vested RSUs will be subject to a post-vesting, three -year holding period such that no vested RSUs can be sold or transferred until the first quarter of 2023. Performance-vesting of the award is based equally on the compound annual growth rates of Leucadia's Total Shareholder Return ("TSR"), which will be measured from the December 30, 2016 stock price of $23.25 , and Leucadia's Return on Tangible Deployable Equity ("ROTDE"), the annual, two- and three-year results of which will be used to determine vesting. TSR is based on annualized rate of return reflecting price appreciation plus reinvestment of dividends and distributions to shareholders. ROTDE is net income adjusted for amortization of intangible assets divided by tangible book value at the beginning of year adjusted for intangible assets and deferred tax assets. If Leucadia's TSR and ROTDE annual compound growth rates are less than 4% , our Senior Executives will not receive any incentive compensation. If Leucadia's TSR and ROTDE grow between 4% and 8% on a compounded basis over the three -year measurement period, each of our Senior Executives will be eligible to receive between 537,634 and 1,075,268 RSUs. If TSR and ROTDE growth rates are greater than 8% , our Senior Executives are eligible to receive up to 50% additional incentive compensation on a pro rata basis up to 12% growth rates. When determining whether RSUs will vest, the calculation will be weighted equally between TSR and ROTDE. If TSR growth was below minimum thresholds, but ROTDE growth was above minimum thresholds, our Senior Executives would still be eligible to receive some number of vested RSUs based on ROTDE growth. The TSR award contains a market condition and compensation expense is recognized over the service period and will not be reversed if the market condition is not met. The ROTDE award contains a performance condition and compensation expense is recognized over the service period if it is determined that it is probable that the performance condition will be achieved. Former Stock-Based Compensation Plans. Prior to the acquisition of Jefferies, we had a fixed stock option plan, which provided 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 were intended to qualify as incentive stock options to the extent permitted under the Internal Revenue Code and became exercisable in five equal annual installments starting one year from date of grant. Options granted to non-employee directors became exercisable in four equal annual installments starting one year from date of grant. No stock appreciation rights have been granted. In March 2014, we ceased issuing options and rights under our option plan. No shares remain available for future issuances under this plan. At September 30, 2017 , 331,312 of our common shares were reserved for stock options. Stock-Based Compensation Expense. Compensation and benefits expense included $11.1 million and $8.9 million for the three months ended September 30, 2017 and 2016 , respectively, and $31.5 million and $24.9 million for the nine months ended September 30, 2017 and 2016 , 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 $4.0 million and $3.3 million for the three months ended September 30, 2017 and 2016 , respectively, and $11.2 million and $9.2 million for the nine months ended September 30, 2017 and 2016 , respectively. As of September 30, 2017 , total unrecognized compensation cost related to nonvested share-based compensation plans was $71.8 million ; this cost is expected to be recognized over a weighted average period of 1.8 years. At September 30, 2017 , there were 1,332,000 shares of restricted stock outstanding with future service required, 5,679,000 RSUs outstanding with future service required (including target RSUs issuable under the senior executive compensation plan), 10,442,000 RSUs outstanding with no future service required and 701,000 shares issuable under other plans. Excluding shares issuable pursuant to outstanding stock options, the maximum potential increase to common shares outstanding resulting from these outstanding awards is 16,822,000 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	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 is as follows (in thousands): September 30, 2017 December 31, 2016 Net unrealized gains on available for sale securities $ 570,240 $ 561,497 Net unrealized foreign exchange losses (130,394 ) (184,829 ) Net unrealized losses on instrument specific credit risk (15,364 ) (6,494 ) Net unrealized losses on cash flow hedges (1,585 ) — Net minimum pension liability (59,411 ) (59,477 ) $ 363,486 $ 310,697 For the nine months ended September 30, 2017 and 2016 , significant amounts reclassified out of accumulated other comprehensive income to net income are as follows (in thousands): Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations 2017 2016 Net unrealized gains on available for sale securities, net of income tax provision of $14 and $5 $ 24 $ 8 Net realized securities gains Net unrealized foreign exchange losses, net of income tax provision of $1,086 and $0 (5,310 ) — Other income and other expenses Amortization of defined benefit pension plan actuarial losses, net of income tax benefit of $(604) and $(526) (1,297 ) (1,150 ) Compensation and benefits, which includes pension expense. Other pension, net of income tax benefit of $(1,231) and $0 1,231 — Income tax provision (benefit) Total reclassifications for the period, net of tax $ (5,352 ) $ (1,142 )

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The aggregate amount of gross unrecognized tax benefits related to uncertain tax positions at September 30, 2017 was $215.8 million (including $54.8 million for interest), of which $164.2 million related to Jefferies. The aggregate amount of gross unrecognized tax benefits related to uncertain tax positions at December 31, 2016 was $196.5 million (including $47.7 million for interest), of which $148.8 million related to Jefferies. If recognized, such amounts would lower our effective tax rate. Accrued interest is included in Payables, expense accruals and other liabilities in the Consolidated Statements of Financial Condition. No material penalties were accrued for the nine months ended September 30, 2017 and the year ended December 31, 2016. The statute of limitations with respect to our federal income tax returns has expired for all years through 2012. Our 2013 federal tax return is currently under examination by the Internal Revenue Service. Our New York State and New York City income tax returns are currently being audited for the 2012 to 2014 period and 2011 to 2012 period, respectively. 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 2006. 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. Our provision for income taxes for the nine months ended September 30, 2017 was reduced by a $31.9 million benefit resulting from the repatriation of Jefferies earnings from certain of its foreign subsidiaries, along with their associated foreign tax credits.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings (Loss) Per Common Share	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 (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Numerator for earnings (loss) per share: Net income (loss) attributable to Leucadia National Corporation common shareholders $ 99,351 $ 154,358 $ 438,952 $ (11,233 ) Allocation of earnings to participating securities (1) (368 ) (2,060 ) (1,692 ) — Net income (loss) attributable to Leucadia National Corporation common shareholders for basic earnings (loss) per share 98,983 152,298 437,260 (11,233 ) Adjustment to allocation of earnings to participating securities related to diluted shares (1) (2 ) 6 3 — Mandatorily redeemable convertible preferred share dividends — 1,016 3,203 — Net income (loss) attributable to Leucadia National Corporation common shareholders for diluted earnings (loss) per share $ 98,981 $ 153,320 $ 440,466 $ (11,233 ) Denominator for earnings (loss) per share: Denominator for basic earnings (loss) per share – weighted average shares 367,828 370,404 368,736 371,814 Stock options 23 1 22 — Warrants — — — — Senior executive compensation plan awards 2,347 — 2,313 — Mandatorily redeemable convertible preferred shares — 4,162 4,162 — 3.875% Convertible Senior Debentures — — — — Denominator for diluted earnings (loss) per share 370,198 374,567 375,233 371,814 (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 1,366,700 and 5,009,500 for the three months ended September 30, 2017 and 2016 , respectively, and 1,433,500 and 4,859,900 for the nine months ended September 30, 2017 and 2016 , respectively. Dividends declared on participating securities were not material during three and nine months ended September 30, 2017 and 2016 . 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 647,300 and 660,000 weighted average shares of common stock were outstanding during the three and nine months ended September 30, 2016 , respectively, but were not included in the computation of diluted per share amounts as the effect was antidilutive. Amounts for the three and nine months ended September 30, 2017 were not material. In the table above, the denominator for diluted earnings (loss) per share does not include weighted average common shares of 1,200,000 during the nine months ended September 30, 2016 , related to outstanding warrants to purchase common shares at $33.33 per share, as the effect was antidilutive. The warrants expired in the first quarter of 2016. For the three and nine months ended September 30, 2017 and 2016 , 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 September 30, 2017 and the nine months ended September 30, 2016 , 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	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies And Guarantees	Commitments, Contingencies and Guarantees Commitments The following table summarizes commitments associated with certain business activities (in millions): Expected Maturity Date 2017 2018 2019 and 2020 2021 and 2022 2023 and Later Maximum Payout Equity commitments (1) $ 9.3 $ 40.2 $ 11.4 $ — $ 214.2 $ 275.1 Loan commitments (1) — 244.1 — 53.0 — 297.1 Mortgage-related and other purchase commitments — — 177.7 — — 177.7 Underwriting commitments 70.0 — — — — 70.0 Forward starting reverse repos (2) 3,943.7 — — — — 3,943.7 Forward starting repos (2) 2,018.0 — — — — 2,018.0 Other unfunded commitments (1) 45.0 154.5 130.6 226.2 12.1 568.4 $ 6,086.0 $ 438.8 $ 319.7 $ 279.2 $ 226.3 $ 7,350.0 (1) Equity commitments, loan commitments and other unfunded commitments are presented by contractual maturity date. The amounts are however mostly available on demand. (2) At September 30, 2017 , all of the forward starting securities purchased under agreements to resell and securities sold under agreements to repurchase (collectively “repos”) settled within three business days. 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 consists of a team led by Brian P. Friedman, our President and a Director. As of September 30, 2017 , Jefferies outstanding commitments relating to Jefferies Capital Partners, LLC and its private equity funds were $22.0 million . See Note 9 for additional information regarding Jefferies investments in Jefferies Finance and Jefferies LoanCore. Our equity commitments also include our commitment to invest in 54 Madison, a fund which targets real estate projects. We plan to invest a cumulative total of $202.5 million to this fund, of which we have already contributed $134.4 million . Capital commitments are contingent upon approval of the related investment by the investment committee, which we control. Through September 30, 2017 , approved unfunded commitments totaled $36.3 million . Additionally, as of September 30, 2017 , we have other equity commitments to invest up to $15.4 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 September 30, 2017 , Jefferies has $64.9 million of outstanding loan commitments to clients. Loan commitments outstanding as of September 30, 2017 , also include Jefferies portion of the outstanding secured revolving credit facility provided to Jefferies Finance to support loan underwritings by Jefferies Finance. At September 30, 2017 , $35.1 million of Jefferies $250.0 million commitment was funded. In August 2014, we and Solomon Kumin established Folger Hill; we committed to provide Folger Hill with a three -year, $20.0 million revolving credit facility to fund its start-up and initial operating expenses. During the third quarter of 2017, the facility was amended to extend the maturity date until December 31, 2018 and to provide for an optional termination right for the Company with ten days prior written notice. As of September 30, 2017 , $10.2 million has been provided to Folger Hill under the revolving credit facility. Mortgage-Related and Other Purchase Commitments. Jefferies enters into forward contracts to purchase mortgage participation certificates, mortgage-backed securities and consumer loans. 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 Fannie Mae, Freddie Mac or Ginnie Mae. Jefferies frequently securitizes the mortgage participation certificates and mortgage-backed securities. The fair value of mortgage-related and other purchase commitments recorded in the Consolidated Statement of Financial Condition at September 30, 2017 was $44.5 million . 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. Other Unfunded Commitments. Other unfunded commitments include obligations in the form of revolving notes to provide financing to asset-backed and CLO vehicles. Upon advancing funds, drawn amounts are collateralized by the assets of an entity. In October 2017, Jefferies entered into a contract for technology operations services under which they have contractual obligations of approximately $2.5 million for the remainder of fiscal 2017, approximately $11.9 million for fiscal 2018 and annual obligations for each year thereafter of approximately $15.7 million through 2028. Contingencies We and our subsidiaries are parties to 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 as of September 30, 2017 (in millions): Expected Maturity Date Guarantee Type 2017 2018 2019 and 2020 2021 and 2022 2023 and Later Notional/ Maximum Payout Derivative contracts – non-credit related $ 8,530.1 $ 5,114.5 $ 2,183.1 $ 215.0 $ 595.7 $ 16,638.4 Written derivative contracts – credit related — 41.4 10.0 279.8 — 331.2 Total derivative contracts $ 8,530.1 $ 5,155.9 $ 2,193.1 $ 494.8 $ 595.7 $ 16,969.6 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 $245.5 million as of September 30, 2017 . Berkadia. We have agreed to reimburse Berkshire Hathaway for up to one-half of any losses incurred under a $1.5 billion surety policy securing outstanding commercial paper issued by an affiliate of Berkadia. As of September 30, 2017 , the aggregate amount of commercial paper outstanding was $1.47 billion . Loan Guarantee . Jefferies has provided a guarantee to Jefferies Finance that matures in January 2021, whereby Jefferies 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. The maximum amount payable under the guarantee is $0.2 million at September 30, 2017 . 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. Indemnification. In connection with the 2013 sale of Empire Insurance Company, we agreed to indemnify the buyer for certain of Empire’s lease obligations that were assumed by another subsidiary of ours as part of the sale of Empire. Our subsidiary was subsequently sold in 2014 to HomeFed as part of the real estate transaction with HomeFed. Although HomeFed has agreed to indemnify us for these lease obligations, our indemnification obligation under the Empire transaction remains. The primary lease expires in 2018 and the aggregate amount of lease obligation as of September 30, 2017 was approximately $12.7 million . Substantially all of the space under the primary lease has been sublet to various third-party tenants for the full length of the lease term in amounts in excess of the obligations under the primary lease. Standby Letters of Credit. At September 30, 2017 , Jefferies provided guarantees to certain counterparties in the form of standby letters of credit in the amount of $54.0 million . 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 $15.0 million at September 30, 2017 . Primarily all letters of credit expire within one year.

Net Capital Requirements

Net Capital Requirements	9 Months Ended
	Sep. 30, 2017
Net Capital Requirements [Abstract]
Net Capital Requirements	Net Capital Requirements Jefferies operates broker-dealers registered with the SEC and member firms of the Financial Industry Regulatory Authority ("FINRA"). Jefferies LLC and Jefferies Execution are subject to the Securities and Exchange Commission Uniform Net Capital Rule ("Rule 15c3-1"), which requires the maintenance of minimum net capital and have elected to calculate minimum capital requirements under the alternative method as permitted by Rule 15c3-1 in calculating net capital. Jefferies LLC is also registered as a futures commission merchant ("FCM") and is subject to Rule 1.17 of the CFTC which sets forth minimum financial requirements. The minimum net capital requirement in determining excess net capital for a dually-registered U.S. broker-dealer and FCM is equal to the greater of the requirement under Rule 15c3-1 or CFTC Rule 1.17. Jefferies LLC and Jefferies Execution’s net capital and excess net capital as of September 30, 2017 were as follows (in thousands): Net Capital Excess Net Capital Jefferies LLC $ 1,491,122 $ 1,411,625 Jefferies Execution $ 7,961 $ 7,711 FINRA is the designated examining authority for Jefferies U.S. broker-dealers and the National Futures Association is the designated self-regulatory organization for Jefferies LLC as an FCM. 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 which is authorized and regulated by the Financial Conduct Authority in the United Kingdom. The regulatory capital requirements referred to above may restrict our ability to withdraw capital from Jefferies regulated subsidiaries. Some of our other consolidated subsidiaries also have credit agreements which may restrict the payment of cash dividends, or the ability to make loans or advances to the parent company.

Other Fair Value Information

Other Fair Value Information	9 Months Ended
	Sep. 30, 2017
Other Fair Value Information [Abstract]
Other Fair Value Information	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): September 30, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Receivables: Notes and loans receivable (1) $ 961,641 $ 950,780 $ 962,938 $ 958,377 Financial Liabilities: Short-term borrowings (2) $ 412,841 $ 412,841 $ 525,842 $ 525,842 Long-term debt (3) $ 7,538,772 $ 7,930,261 $ 7,131,587 $ 7,221,459 (1) Notes and loans receivable: The fair values are estimated principally based on a discounted future cash flows model using market interest rates for similar instruments. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. (2) Short-term borrowings: The fair values of short-term borrowings are estimated to be the carrying amount due to their short maturities. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. (3) Long-term debt: The fair values are estimated using quoted prices, pricing information obtained from external data providers and, for certain variable rate debt, is estimated to be the carrying amount. If measured at fair value in the financial statements, these financial instruments would be classified as Level 2 and Level 3 in the fair value hierarchy.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Jefferies Capital Partners Related Funds. Jefferies has equity investments in the JCP Manager and in private equity funds, which are managed by a team led by Brian P. Friedman, our President and a Director ("Private Equity Related Funds"). Reflected in our Consolidated Statements of Financial Condition at September 30, 2017 and December 31, 2016 are Jefferies equity investments in Private Equity Related Funds of $28.1 million and $37.7 million , respectively. Net gains (losses) aggregating $(0.4) million and $6.0 million for the three months ended September 30, 2017 and 2016 , respectively, and $(9.8) million and $(1.7) million for the nine months ended September 30, 2017 and 2016 , respectively, were recorded in Other revenues related to the Private Equity Related Funds. For further information regarding our commitments and funded amounts to the Private Equity Related Funds, see Notes 8 and 20 . Berkadia Commercial Mortgage, LLC. At September 30, 2017 and December 31, 2016 , Jefferies has commitments to purchase $722.9 million and $817.0 million , respectively, in agency commercial mortgage-backed securities from Berkadia. Officers, Directors and Employees. We have $52.1 million and $41.2 million of loans outstanding to certain officers and employees (none of whom are an executive officer or director of the Company) at September 30, 2017 and December 31, 2016 , respectively. Receivables from and payables to customers include balances arising from officers, directors and employees' individual security transactions. These transactions are subject to the same regulations as all customer transactions and are provided on substantially the same terms. At December 31, 2016 , Jefferies provided a guarantee of a credit agreement for a private equity fund owned by Jefferies employees and in April 2017 this guarantee was terminated. National Beef. National Beef participates in a cattle supply agreement with a minority owner and holder of a redeemable noncontrolling interest in National Beef. Under this agreement National Beef has agreed to purchase 735,385 head of cattle each year (subject to adjustment), from the members of the minority owner, with prices based on those published by the U.S. Department of Agriculture, subject to adjustments for cattle performance. National Beef obtained approximately 24% and 26% of its cattle requirements under this agreement during the nine months ended September 30, 2017 and 2016 , respectively. National Beef also enters into transactions with an affiliate of another minority owner and holder of a redeemable noncontrolling interest in National Beef to buy and sell a limited number of beef products. During the nine months ended September 30, 2017 , sales to this affiliate were $24.6 million and purchases were $9.7 million . During the nine months ended September 30, 2016 , sales to this affiliate were $22.7 million and purchases were $10.6 million . At September 30, 2017 and December 31, 2016 , amounts due from and payable to these related parties were not significant. HomeFed. During 2014, we sold to HomeFed substantially all of our then-owned real estate properties and operations as well as cash of approximately $14.0 million , in exchange for 7,500,000 newly issued unregistered HomeFed common shares. As discussed in Note 9, as a result of a 1998 distribution to all of our shareholders, approximately 4.8% of HomeFed is beneficially owned by our Chairman at September 30, 2017 . Three of our executives serve on the board of directors of HomeFed, including our Chairman who serves as HomeFed’s Chairman, and our President. 54 Madison. At September 30, 2017 and December 31, 2016 , approximately $188.2 million and $230.2 million , respectively, of long-term debt held by 54 Madison is owed to minority owners of 54 Madison. The interest rate on these long-term notes range between 4.2% and 6.0% . The employees of the asset manager of 54 Madison and employees of certain asset managers of 54 Madison's investments are also employees of Leucadia. These employees are also minority owners of 54 Madison. See Note 9 for information on transactions with Jefferies Finance and Jefferies LoanCore.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information Our operating segments consist of our consolidated businesses, which offer different products and services and are managed separately. Our reportable segments, based on qualitative and quantitative requirements, are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm. National Beef processes and markets fresh boxed beef, consumer-ready beef, beef by-products and wet blue leather for domestic and international markets. Corporate and other assets primarily consist of financial instruments owned, the deferred tax asset (exclusive of Jefferies deferred tax asset), cash and cash equivalents and Corporate and other revenues primarily consist of interest, other income and net realized securities gains and losses. We do not allocate Corporate and other revenues or overhead expenses to the operating units. All other consists of our other financial services businesses and investments and our other merchant banking businesses and investments. Our other financial services businesses and investments include the Leucadia Asset Management platform, Foursight Capital, and our investments in Berkadia, HomeFed and FXCM. Our other merchant banking businesses and investments primarily include Idaho Timber, Conwed, Vitesse, JETX, real estate, and our investments in HRG, Linkem, Garcadia and Golden Queen. Certain information concerning our segments is presented in the following table. Consolidated subsidiaries are reflected as of the date a majority controlling interest was acquired. As discussed above, Jefferies is reflected in our consolidated financial statements utilizing a one month lag. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Net Revenues: Reportable Segments: Jefferies $ 802,909 $ 656,496 $ 2,381,967 $ 1,678,212 National Beef 2,039,299 1,747,042 5,476,274 5,180,127 Corporate and other 21,722 1,006 31,748 78,354 Total net revenues related to reportable segments 2,863,930 2,404,544 7,889,989 6,936,693 All other 32,592 271,831 606,895 380,146 Total consolidated net revenues $ 2,896,522 $ 2,676,375 $ 8,496,884 $ 7,316,839 Income (loss) before income taxes: Reportable Segments: Jefferies $ 128,112 $ 83,190 $ 383,094 $ (55,127 ) National Beef 174,479 108,269 310,007 192,533 Corporate and other 1,595 (16,619 ) (30,167 ) 23,926 Income before income taxes related to reportable segments 304,186 174,840 662,934 161,332 All other (89,422 ) 89,791 104,073 (29,769 ) Parent Company interest (14,737 ) (14,722 ) (44,201 ) (44,155 ) Total consolidated income before income taxes $ 200,027 $ 249,909 $ 722,806 $ 87,408 Depreciation and amortization expenses: Reportable Segments: Jefferies $ 15,928 $ 16,108 $ 46,877 $ 45,331 National Beef 26,664 23,100 73,522 68,511 Corporate and other 865 867 2,599 2,754 Total depreciation and amortization expenses related to reportable segments 43,457 40,075 122,998 116,596 All other 11,967 12,616 32,653 36,474 Total consolidated depreciation and amortization expenses $ 55,424 $ 52,691 $ 155,651 $ 153,070 Interest expense classified as a component of Net revenues relates to Jefferies. For the three months ended September 30, 2017 and 2016 , interest expense classified as a component of Expenses was primarily comprised of National Beef ( $1.7 million and $3.0 million , respectively), parent company interest ( $14.7 million and $14.7 million , respectively) and all other ( $10.9 million and $5.4 million , respectively). For the nine months ended September 30, 2017 and 2016 , interest expense classified as a component of Expenses was primarily comprised of National Beef ( $5.8 million and $10.7 million , respectively), parent company interest ( $44.2 million and $44.2 million , respectively) and all other ( $32.6 million and $13.3 million , respectively).

Basis of Presentation and Sig34

Basis of Presentation and Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Principal Transactions Revenues	Principal Transactions Revenues Trading assets and trading liabilities (all of which are recorded on a trade-date basis) are carried at fair value with gains and losses reflected in Principal transaction revenues in our Consolidated Statements of Operations, except for derivatives accounted for as hedges (see “Hedge Accounting” section herein and Note 4). Fees received on loans carried at fair value are also recorded within Principal transaction revenues.
Hedge Accounting	Hedge Accounting Jefferies applies hedge accounting using interest rate swaps designated as fair value hedges of changes in the benchmark interest rate of fixed rate senior long-term debt. Jefferies interest rate swaps are included as derivative contracts in Trading assets and Trading liabilities in the Consolidated Statements of Financial Condition. Jefferies uses regression analysis to perform ongoing prospective and retrospective assessments of the effectiveness of these hedging relationships. A hedging relationship is deemed effective if the change in fair value of the interest rate swap and the change in the fair value of the long-term debt due to changes in the benchmark interest rate offset within a range of 80% to 125% . The impact of valuation adjustments related to Jefferies own credit spreads and counterparty credit spreads are included in the assessment of effectiveness. For qualifying fair value hedges of benchmark interest rates, the change in the fair value of the derivative and the change in fair value of the long-term debt provide offset of one another, and together with any resulting ineffectiveness, are recorded in Interest expense. See Note 4 for further information.
Receivables	Receivables At September 30, 2017 and December 31, 2016 , Receivables include receivables from brokers, dealers and clearing organizations of $2,674.7 million and $2,062.9 million , respectively, and receivables from customers of securities operations of $1,291.5 million and $843.1 million , respectively.
Payables, expense accruals and other liabilities	Payables, expense accruals and other liabilities At September 30, 2017 and December 31, 2016 , Payables, expense accruals and other liabilities include payables to brokers, dealers and clearing organizations of $2,668.9 million and $3,290.4 million , respectively, and payables to customers of securities operations of $2,459.7 million and $2,297.3 million , respectively.
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. In the third quarter of 2016, JETX recorded impairment charges in Selling, general and other expenses of $55.0 million related to write-downs of unproved oil and gas properties. JETX assesses its unproved oil and gas properties for impairment based on remaining lease terms, drilling results or future plans to develop acreage and they record impairment expense for any decline in value. In the third quarter of 2016, JETX curtailed development of its southern acreage in the East Eagle Ford and its Houston County acreage. As a result, an impairment was recorded for the difference between the carrying value and the estimated net realizable value of the acreage. In the third quarter of 2017, JETX decided to focus on its other higher returning acreage and as a result wrote off the remaining carrying value for its Houston County acreage. JETX recorded an impairment charge of $10.1 million in Selling, general and other expenses in the third quarter of 2017 related to the write-down of unproved oil and gas properties.
Accounting Developments	Accounting Developments - Accounting Standards to be Adopted in Future Periods 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 is effective for interim and annual periods beginning after December 15, 2017. We intend to adopt the new guidance using the modified retrospective approach with a cumulative-effect adjustment to opening retained earnings. The evaluation of the impact this new guidance will have on our consolidated financial statements is ongoing. Our implementation efforts include the identification of revenue streams within the scope of the guidance, the evaluation of certain revenue contracts and education and discussion with our consolidated subsidiaries. The below focuses on our two largest consolidated subsidiaries, whose combined revenues make up more than 92% of our Net revenues in the Consolidated Statements of Operations for the nine months ended September 30, 2017 . We continue to evaluate revenues for our consolidated subsidiaries not disclosed below, however, we do not expect the adoption of the new guidance for these subsidiaries to have a material impact on our consolidated financial statements. For Jefferies, as the new revenue recognition guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, Jefferies does not expect the guidance to have a material impact on the elements of its revenues most closely associated with financial instruments, including Principal transaction revenues, Interest income and Interest expense. Jefferies evaluation of the impact of the new guidance on its consolidated financial statements is ongoing. Jefferies continues to evaluate the timing of recognition for each revenue stream within scope, which includes investment banking and asset management fees which may be accelerated or deferred depending on the features of the client arrangements, and the timing and presentation of certain related investment banking expenses (whether presented gross or offset against revenues). National Beef's evaluation of the impact of the new guidance on its consolidated financial statements is ongoing. National Beef continues to evaluate its revenue streams and its contracts with customers within each revenue stream, however, National Beef does not expect the adoption of the new revenue standard to materially impact its consolidated financial statements. Financial Instruments. In January 2016, the FASB issued new guidance that affects the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance is effective for annual and interim periods beginning after December 15, 2017. We are currently evaluating the impact of the new guidance related to equity investments and the presentation and disclosure requirements of financial instruments on our consolidated financial statements. Early adoption was permitted for the accounting guidance on financial liabilities under the fair value option and we adopted this guidance in the first quarter of 2016. The adoption of the guidance on financial liabilities under the fair value option did not have a significant impact on our consolidated financial statements. Leases. In February 2016, the FASB issued new guidance that affects the accounting and disclosure requirements for leases. The FASB requires the recognition of lease assets and lease liabilities on the statement of financial condition. The guidance is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Financial Instruments - Credit Losses. In June 2016, the FASB issued new guidance for estimating credit losses on certain types of financial instruments by introducing an approach based on expected losses. The guidance is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Cash Flow Classifications. In August 2016, the FASB issued new guidance to reduce the diversity in practice in how certain transactions are classified in the statement of cash flows. The guidance adds or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The guidance is effective for annual and interim periods beginning after December 15, 2017. In November 2016, the FASB issued new guidance on restricted cash. The guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The guidance is effective for annual and interim periods beginning after December 15, 2017. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Goodwill. In January 2017, the FASB issued new guidance for simplifying goodwill impairment testing. The guidance is effective for annual and interim periods beginning after December 15, 2019 and early adoption is permitted. We are currently evaluating the impact this new guidance will have on our consolidated financial statements. Retirement Benefits. In March 2017, the FASB issued new guidance for improving the presentation of net periodic pension costs in the statement of operations. The update also allows the service cost to be eligible for capitalization, when applicable. The guidance is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Compensation. In May 2017, the FASB issued new guidance providing clarity and reducing diversity in practice and cost and complexity when accounting for a change to the terms or conditions of a share-based payment award. The guidance is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Derivatives and hedging. In August 2017, the FASB issued new guidance to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. The guidance is effective for annual and interim periods beginning after December 15, 2018 and early adoption is permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Accounting Developments - Adopted Accounting Standards Share-Based Payments to Employees. In January 2017, we adopted the FASB's new guidance that simplifies and improves accounting for share-based payments. The amendments include the recognition of all excess tax benefits and tax deficiencies as income tax expense or benefit in the statement of operations and changes to the timing of recognition of excess tax benefits, the accounting for forfeitures, classification of awards as either equity or liabilities and classification on the statement of cash flows. The adoption of this guidance did not have a significant impact on our consolidated financial statements. We elected to account for forfeitures as they occur, which results in dividends and dividend equivalents originally charged against retained earnings for forfeited shares to be reclassified to compensation expense in the period in which the forfeiture occurs.

Basis of Presentation and Sig35

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Supplemental cash flow information	For the Nine Months Ended September 30, 2017 2016 Cash paid during the year for: (In thousands) Interest $ 837,020 $ 727,115 Income tax payments (refunds), net $ 9,183 $ (13,933 )

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule Of Assets And Liabilities Measured On Recurring Basis At Fair Value	The following is a summary of our financial instruments, trading liabilities, short-term borrowings, long-term debt and other secured financings that are accounted for at fair value on a recurring basis, excluding Investments at fair value based on net asset value ("NAV") (within trading assets) of $24.2 million and $24.3 million , respectively, by level within the fair value hierarchy at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total Assets: Trading assets, at fair value: Corporate equity securities $ 2,740,135 $ 83,565 $ 22,174 $ — $ 2,845,874 Corporate debt securities — 2,732,943 25,015 — 2,757,958 Collateralized debt obligations and collateralized loan obligations — 54,433 50,070 — 104,503 U.S. government and federal agency securities 1,834,270 95,175 — — 1,929,445 Municipal securities — 680,634 — — 680,634 Sovereign obligations 1,384,264 668,053 — — 2,052,317 Residential mortgage-backed securities — 1,671,170 20,649 — 1,691,819 Commercial mortgage-backed securities — 508,665 17,636 — 526,301 Other asset-backed securities — 157,354 68,946 — 226,300 Loans and other receivables — 2,014,650 62,656 — 2,077,306 Derivatives 67,929 2,713,413 2,671 (2,595,355 ) 188,658 Investments at fair value — — 328,969 — 328,969 FXCM term loan — — 70,800 — 70,800 Total trading assets, excluding investments at fair value based on NAV $ 6,026,598 $ 11,380,055 $ 669,586 $ (2,595,355 ) $ 15,480,884 Available for sale securities: Corporate equity securities $ 93,355 $ — $ — $ — $ 93,355 Corporate debt securities — 179 — — 179 U.S. government securities 345,740 — — — 345,740 Residential mortgage-backed securities — 37,090 — — 37,090 Commercial mortgage-backed securities — 10,908 — — 10,908 Other asset-backed securities — 33,225 — — 33,225 Total available for sale securities $ 439,095 $ 81,402 $ — $ — $ 520,497 Liabilities: Trading liabilities: Corporate equity securities $ 1,585,186 $ 23,821 $ 119 $ — $ 1,609,126 Corporate debt securities — 1,574,931 522 — 1,575,453 U.S. government and federal agency securities 1,314,800 — — — 1,314,800 Municipal securities — 44 — — 44 Sovereign obligations 1,600,423 653,106 — — 2,253,529 Commercial mortgage-backed securities — 979 35 — 1,014 Loans — 1,434,380 3,285 — 1,437,665 Derivatives 148,296 3,134,145 7,753 (2,714,115 ) 576,079 Total trading liabilities $ 4,648,705 $ 6,821,406 $ 11,714 $ (2,714,115 ) $ 8,767,710 Short-term borrowings $ — $ 4,281 $ — $ — $ 4,281 Long-term debt - structured notes $ — $ 553,870 $ — $ — $ 553,870 December 31, 2016 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total Assets: Trading assets, at fair value: Corporate equity securities $ 2,522,977 $ 92,839 $ 21,739 $ — $ 2,637,555 Corporate debt securities — 2,675,020 25,005 — 2,700,025 Collateralized debt obligations and collateralized loan obligations — 54,306 54,354 — 108,660 U.S. government and federal agency securities 2,389,397 56,726 — — 2,446,123 Municipal securities — 708,469 27,257 — 735,726 Sovereign obligations 1,432,556 990,492 — — 2,423,048 Residential mortgage-backed securities — 960,494 38,772 — 999,266 Commercial mortgage-backed securities — 296,405 20,580 — 316,985 Other asset-backed securities — 63,587 40,911 — 104,498 Loans and other receivables — 1,557,233 81,872 — 1,639,105 Derivatives 3,825 4,616,822 6,429 (4,255,998 ) 371,078 Investments at fair value — — 314,359 — 314,359 FXCM term loan — — 164,500 — 164,500 Total trading assets, excluding investments at fair value based on NAV $ 6,348,755 $ 12,072,393 $ 795,778 $ (4,255,998 ) $ 14,960,928 Available for sale securities: Corporate equity securities $ 79,425 $ — $ — $ — $ 79,425 Corporate debt securities — 179 — — 179 U.S. government securities 174,933 — — — 174,933 Residential mortgage-backed securities — 19,133 — — 19,133 Commercial mortgage-backed securities — 8,337 — — 8,337 Other asset-backed securities — 19,042 — — 19,042 Total available for sale securities $ 254,358 $ 46,691 $ — $ — $ 301,049 Liabilities: Trading liabilities: Corporate equity securities $ 1,593,548 $ 16,806 $ 313 $ — $ 1,610,667 Corporate debt securities — 1,718,424 523 — 1,718,947 U.S. government and federal agency securities 976,497 — — — 976,497 Sovereign obligations 1,375,590 1,253,754 — — 2,629,344 Loans — 801,977 378 — 802,355 Derivatives 2,566 4,867,586 9,870 (4,229,213 ) 650,809 Total trading liabilities $ 3,948,201 $ 8,658,547 $ 11,084 $ (4,229,213 ) $ 8,388,619 Other secured financings $ — $ 41,350 $ 418 $ — $ 41,768 Long-term debt - structured notes $ — $ 248,856 $ — $ — $ 248,856 (1) Represents counterparty and cash collateral netting across the levels of the fair value hierarchy for positions with the same counterparty.
Investments Measured At Fair Value Based On Net Asset Value	The following tables present information about our investments in entities that have the characteristics of an investment company (in thousands). Fair Value (1) Unfunded Commitments Redemption Frequency (if currently eligible) September 30, 2017 Equity Long/Short Hedge Funds (2) $ 406,280 $ — (2) Fixed Income and High Yield Hedge Funds (3) 421 — — Fund of Funds (4) 183 — — Equity Funds (5) 33,568 19,084 — Multi-asset Funds (6) 125,004 — — Total $ 565,456 $ 19,084 December 31, 2016 Equity Long/Short Hedge Funds (2) $ 363,256 $ — (2) Fixed Income and High Yield Hedge Funds (3) 772 — — Fund of Funds (4) 230 — — Equity Funds (5) 42,179 20,295 — Multi-asset Funds (6) 133,190 — — Total $ 539,627 $ 20,295 (1) Where fair value is calculated based on NAV, fair value has been derived from each of the funds' capital statements. (2) This category includes investments in hedge funds that invest, long and short, in primarily equity securities in domestic and international markets in both the public and private sectors. At September 30, 2017 and December 31, 2016 , 74% and 83% , respectively, of these investments are redeemable with 10 business days or less prior written notice, and 15% and 17% , respectively, of these investments are redeemable with 30 to 60 days prior written notice. (3) This category includes investments in funds that invest in loans secured by a first trust deed on property, 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. (4) This category includes investments in fund of funds that invest in various private equity funds. The investments in this category are managed by us and have no redemption provisions. These investments are gradually being liquidated or we have requested redemption, however, we are unable to estimate when these funds will be received. (5) The 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 six years. (6) This category includes investments in hedge funds that invest, long and short, primarily in multiple classes of securities in domestic and international markets in both the public and private sectors. At September 30, 2017 and December 31, 2016 , investments representing approximately 15% and 12% , respectively, of the fair value of investments in this category are redeemable with 30 to 90 days prior written notice.
Summary Of Changes In Fair Value Of Financial Assets And Liabilities Classified As Level 3	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 nine months ended September 30, 2017 (in thousands): Nine Months Ended September 30, 2017 Balance, December 31, 2016 Total gains/ losses (realized and unrealized) (1) Purchases Sales Settlements Issuances Net transfers into (out of) Level 3 Balance at September 30, 2017 Changes in unrealized gains/losses relating to instruments still held at September 30, 2017 (1) Assets: Trading assets: Corporate equity securities $ 21,739 $ 3,416 $ 945 $ (1,502 ) $ (356 ) $ — $ (2,068 ) $ 22,174 $ 2,689 Corporate debt securities 25,005 (3,280 ) 19,610 (18,364 ) (1,724 ) — 3,768 25,015 (3,424 ) CDOs and CLOs 54,354 (21,595 ) 65,523 (62,441 ) 239 — 13,990 50,070 (21,998 ) Municipal securities 27,257 (1,547 ) — (25,710 ) — — — — — Residential mortgage-backed securities 38,772 (1,446 ) 113,391 (125,731 ) (572 ) — (3,765 ) 20,649 (2,005 ) Commercial mortgage-backed securities 20,580 (1,180 ) 2,033 (5,199 ) (985 ) — 2,387 17,636 (952 ) Other asset-backed securities 40,911 (15,338 ) 67,611 (4,121 ) (16,891 ) — (3,226 ) 68,946 (8,872 ) Loans and other receivables 81,872 27,709 84,342 (83,791 ) (23,241 ) — (24,235 ) 62,656 16,294 Investments at fair value 314,359 12,760 12,800 (10,119 ) (831 ) — — 328,969 14,783 FXCM term loan 164,500 17,638 — — (111,338 ) — — 70,800 (930 ) Liabilities: Trading liabilities: Corporate equity securities $ 313 $ 134 $ (355 ) $ 27 $ — $ — $ — $ 119 $ (92 ) Corporate debt securities 523 (1 ) — — — — — 522 1 Commercial mortgage-backed securities — 35 — — — — — 35 (35 ) Net derivatives (2) 3,441 (2,854 ) — — 5,162 404 (1,071 ) 5,082 (2,333 ) Loans 378 1,604 (364 ) 333 — — 1,334 3,285 (1,583 ) Other secured financings 418 (418 ) — — — — — — — (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. 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 nine months ended September 30, 2016 (in thousands): Nine Months Ended September 30, 2016 Balance, December 31, 2015 Total gains/ losses (realized and unrealized) (1) Purchases Sales Settlements Issuances Net transfers into (out of) Level 3 Balance, September 30, 2016 Changes in unrealized gains/ losses relating to instruments still held at September 30, 2016 (1) Assets: Trading assets: Corporate equity securities $ 40,906 $ (8,388 ) $ 5,225 $ (49 ) $ — $ — $ (15,499 ) $ 22,195 $ (727 ) Corporate debt securities 25,876 5,239 29,629 (20,331 ) — — (5,406 ) 35,007 1,456 CDOs and CLOs 85,092 (24,356 ) 61,707 (69,397 ) (605 ) — (8,371 ) 44,070 (13,196 ) Municipal securities — (1,462 ) — — — — 28,719 27,257 (1,462 ) Sovereign obligations 120 5 — (125 ) — — — — — Residential mortgage-backed securities 70,263 (7,243 ) 1,948 (13,203 ) (1,078 ) — (3,806 ) 46,881 228 Commercial mortgage-backed securities 14,326 (4,606 ) 1,256 (2,023 ) — — 15,640 24,593 (3,337 ) Other asset-backed securities 42,925 (2,420 ) 66,503 (60,525 ) (6,678 ) — 21,307 61,112 (9,993 ) Loans and other receivables 189,289 (30,843 ) 305,920 (206,587 ) (163,913 ) — (15,409 ) 78,457 (27,714 ) Investments at fair value 199,794 46,644 29,727 (485 ) (834 ) — 26,063 300,909 53,711 Investment in FXCM (2) 625,689 (58,335 ) — — (359,954 ) — — 207,400 3,852 Liabilities: Trading liabilities: Corporate equity securities $ 38 $ — $ — $ — $ — $ — $ — $ 38 $ — Corporate debt securities — (27 ) — 550 — — — 523 — Net derivatives (3) (242 ) 3,104 — 11,101 (14 ) 1,606 (4,508 ) 11,047 (5,745 ) Loans 10,469 7 — 681 (213 ) — (10,096 ) 848 45 Other secured financings 544 (276 ) — — — — — 268 276 (1) Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations. (2) Includes $334.5 million related to the settlement of our participation rights for equity ownership in FXCM on September 1, 2016. We classify the equity ownership as a Loan to and investment in associated company at September 30, 2016. (3) Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives 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 September 30, 2017 (in thousands): Three months ended September 30, 2017 Balance, June 30, 2017 Total gains/ losses (realized and unrealized) (1) Purchases Sales Settlements Issuances Net transfers into (out of) Level 3 Balance at September 30, 2017 Changes in unrealized gains/ losses relating to instruments still held at September 30, 2017 (1) Assets: Trading assets: Corporate equity securities $ 20,548 $ 4,344 $ 4 $ (645 ) $ (55 ) $ — $ (2,022 ) $ 22,174 $ 4,319 Corporate debt securities 24,727 (2,350 ) 5,901 (5,551 ) (31 ) — 2,319 25,015 (2,224 ) CDOs and CLOs 48,208 (15,205 ) 52,918 (36,564 ) 245 — 468 50,070 (12,638 ) Residential mortgage-backed securities 33,032 (263 ) 494 (732 ) (291 ) — (11,591 ) 20,649 188 Commercial mortgage-backed securities 16,263 (125 ) — (676 ) (637 ) — 2,811 17,636 (161 ) Other asset-backed securities 43,349 (6,454 ) 5,798 (3,789 ) (2,924 ) — 32,966 68,946 (3,570 ) Loans and other receivables 49,365 15,261 9,265 (5,854 ) (8,249 ) — 2,868 62,656 14,005 Investments at fair value 315,297 3,964 10,000 — (292 ) — — 328,969 3,964 FXCM term loan 129,050 2,330 — — (60,580 ) — — 70,800 (2,401 ) Liabilities: Trading liabilities: Corporate equity securities $ 354 $ 107 $ (369 ) $ 27 $ — $ — $ — $ 119 $ (92 ) Corporate debt securities 522 — — — — — — 522 — Commercial mortgage-backed securities 70 (35 ) — — — — — 35 (35 ) Net derivatives (2) 3,022 (2,980 ) — — 5,040 — — 5,082 (2,474 ) Loans 4,967 (3,071 ) — 333 — — 1,056 3,285 3,018 (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. 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 September 30, 2016 (in thousands): Three Months Ended September 30, 2016 Balance, June 30, 2016 Total gains/ losses (realized and unrealized) (1) Purchases Sales Settlements Issuances Net transfers into (out of) Level 3 Balance, September 30, 2016 Changes in unrealized gains/ losses relating to instruments still held at September 30, 2016 (1) Assets: Trading assets: Corporate equity securities $ 48,816 $ (6,492 ) $ 291 $ (49 ) $ — $ — $ (20,371 ) $ 22,195 $ (892 ) Corporate debt securities 24,113 (145 ) 10,696 (5,046 ) — — 5,389 35,007 405 CDOs and CLOs 52,710 (4,067 ) 4,205 (5,203 ) — — (3,575 ) 44,070 (4,606 ) Municipal securities — (7,074 ) — — — — 34,331 27,257 (7,074 ) Sovereign obligations 120 5 — (125 ) — — — — — Residential mortgage-backed securities 63,308 (2,343 ) 1,884 (10,874 ) (463 ) — (4,631 ) 46,881 (183 ) Commercial mortgage-backed securities 24,983 (1,531 ) — — — — 1,141 24,593 (236 ) Other asset-backed securities 43,033 (2,247 ) 3,416 (2,727 ) (1,429 ) — 21,066 61,112 (2,202 ) Loans and other receivables 104,399 (23,445 ) 31,512 (10,140 ) (16,804 ) — (7,065 ) 78,457 (16,044 ) Investments at fair value 273,271 (599 ) — (485 ) (278 ) — 29,000 300,909 (746 ) Investment in FXCM (2) 508,400 42,721 — — (343,721 ) — — 207,400 (2,000 ) Liabilities: Trading liabilities: Corporate equity securities $ — $ — $ — $ — $ — $ — $ 38 $ 38 $ — Corporate debt securities — (27 ) — 550 — — — 523 — Net derivatives (3) 4,424 (4,736 ) — 11,101 32 601 (375 ) 11,047 (1,589 ) Loans 1,896 (402 ) — 170 — — (816 ) 848 (400 ) Other secured financings 468 (200 ) — — — — — 268 200 (1) Realized and unrealized gains (losses) are reported in Principal transactions in the Consolidated Statements of Operations. (2) Includes $334.5 million related to the settlement of our participation rights for equity ownership in FXCM on September 1, 2016. We classify the equity ownership as a Loan to and investment in associated company at September 30, 2016. (3) Net derivatives represent Trading assets - Derivatives and Trading liabilities - Derivatives.
Quantitative Information About Significant Unobservable Inputs Used In Level 3 Fair Value Measurements	September 30, 2017 Financial Instruments Owned Fair Value (in thousands) Valuation Technique Significant Unobservable Input(s) Input/Range Weighted Average Corporate equity securities $ 17,964 Non-exchange traded securities Market approach Price $3 to $75 $59.0 Underlying stock price $6 — Comparable pricing Comparable asset price $9 — Corporate debt securities $ 25,015 Convertible bond model Discount rate/yield 8% — Volatility 40% — Market approach Estimated recovery percentage 17% — Price $15 — CDOs and CLOs $ 43,153 Discounted cash flows Constant prepayment rate 20% — Constant default rate 2% — Loss severity 25% to 30% 27 % Discount rate/yield 9% to 23% 12 % Scenario analysis Estimated recovery percentage 6% to 45% 29 % Residential mortgage-backed securities $ 20,649 Discounted cash flows Cumulative loss rate 5% to 30% 13 % Duration (years) 3 to 10 5 Discount rate/yield 8% to 10% 9 % Commercial mortgage-backed securities $ 17,636 Discounted cash flows Cumulative loss rate 0% to 58% 29 % Duration (years) 1 to 3 2 Discount rate/yield 2% to 21% 11 % Other asset-backed securities $ 68,946 Discounted cash flows Cumulative loss rate 0% to 25% 20 % Duration (years) 1 to 10 2 Discount rate/yield 4% to 12% 8 % Market approach Price $100 — Scenario analysis Estimated recovery percentage 23% — Loans and other receivables $ 59,398 Market approach EBITDA (a) multiple 1.6 — Price $60 to $100 $95.0 Scenario analysis Estimated recovery percentage 10% to 107% 67 % Derivatives $ 2,671 Interest rate swaps Market approach Credit spread 800 bps — Investments at fair value $ 100,446 Private equity securities Market approach Price $7 to $250 $123.0 Transaction level $3 — Discount rate 20% — Investment in FXCM Term loan $ 70,800 Discounted cash flows Term based on the pay off 0 months to .3 years 0.3 years Trading Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input(s) Input/Range Weighted Average Derivatives $ 7,753 Equity options Option model/default rate Default probability 0% — Variable funding note swaps Discounted cash flows Constant prepayment rate 20% — Constant default rate 2% — Loss severity 25% — Discount rate/yield 23% — December 31, 2016 Financial Instruments Owned Fair Value (in thousands) Valuation Technique Significant Unobservable Input(s) Input/Range Weighted Average Corporate equity securities $ 19,799 Non-exchange traded securities Market approach Underlying stock price $3 to $75 $15.0 Comparable pricing Underlying stock price $218 — Comparable asset price $11 — Present value Average silver production (tons per day) 666 — Corporate debt securities $ 25,005 Convertible bond model Discount rate/yield 9% — Volatility 40% — Market approach Transaction level $30 — CDOs and CLOs $ 33,016 Discounted cash flows Constant prepayment rate 10% to 20% 19 % Constant default rate 2% to 4% 2 % Loss severity 25% to 70% 40 % Yield 7% to 17% 12 % Scenario analysis Estimated recovery percentage 28% to 38% 31 % Residential mortgage-backed securities $ 38,772 Discounted cash flows Constant prepayment rate 0% to 11% 5 % Constant default rate 1% to 7% 3 % Loss severity 35% to 100% 62 % Yield 2% to 10% 6 % Commercial mortgage-backed securities $ 20,580 Discounted cash flows Yield 6% to 11% 8 % Cumulative loss rate 5% to 95% 39 % Other asset-backed securities $ 40,911 Discounted cash flows Constant prepayment rate 4% to 20% 14 % Constant default rate 0% to 31% 13 % Loss severity 0% to 100% 90 % Yield 4% to 17% 15 % Market approach Price $72 — Loans and other receivables $ 54,347 Market approach Discount rate/yield 2% to 4% 3 % EBITDA (a) multiple 3.3 — Transaction level $0.42 — Present value Average silver production (tons per day) 666 — Scenario analysis Estimated recovery percentage 6% to 50% 37 % Derivatives $ 6,429 Equity swaps Comparable pricing Comparable asset price $102 — Credit default swaps Market approach Credit spread 265 bps — Investments at fair value $ 67,383 Private equity securities Market approach Transaction level $250 — Price $25,815,720 — Discount rate 15% to 30% 23 % Investment in FXCM Term loan $ 164,500 Discounted cash flows Term based on the pay off 0 months to .5 years 0.4 years Trading Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input(s) Input/Range Weighted Average Derivatives $ 9,870 Equity options Option model Volatility 45% — Default rate Default probability 0% — Equity swaps Comparable pricing Comparable asset price $102 — Unfunded commitments Market approach Discount rate/yield 4% — Variable funding note swaps Discounted cash flows Constant prepayment rate 20% — Constant default rate 2% — Loss severity 25% — Yield 16% — (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	The following is a summary of Jefferies gains (losses) due to changes in instrument specific credit risk on loans, other receivables and debt instruments and gains (losses) due to other changes in fair value on long-term debt and short-term borrowing measured at fair value under the fair value option (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Financial Instruments Owned: Loans and other receivables $ 24,846 $ (24,874 ) $ 27,715 $ (48,658 ) Financial Instruments Sold: Loans $ 3,436 $ 212 $ (7,286 ) $ 229 Loan commitments $ 82 $ 4,769 $ 229 $ 2,196 Long-term Debt: Changes in instrument specific credit risk (1) $ 5,638 $ (4,093 ) $ (14,141 ) $ (7,848 ) Other changes in fair value (2) $ (1,854 ) $ 4,474 $ 2,786 $ 15,225 Short-term Borrowings: Changes in instrument specific credit risk (1) $ 19 $ — $ 1 $ — Other changes in fair value (2) $ (2,570 ) $ — $ (37 ) $ — (1) Changes in instrument specific credit risk related to structured notes are included in the Consolidated Statements of Comprehensive Income (Loss), net of tax. (2) Other changes in fair value are principally included within Principal transactions revenues in the Consolidated Statements of Operations
Summary Of Amount By Which Contractual Principal Exceeds Fair Value For Loans And Other Receivables Measured At Fair Value Under Fair Value Option	The following is a summary of the amount by which contractual principal exceeds fair value for loans and other receivables and long-term debt measured at fair value under the fair value option (in thousands): September 30, 2017 December 31, 2016 Financial Instruments Owned: Loans and other receivables (1) $ 663,618 $ 1,325,938 Loans and other receivables on nonaccrual status and/or greater than 90 days past due (1) (2) $ 159,000 $ 205,746 Long-term Debt $ 9,725 $ 20,202 (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) Amounts include all loans and other receivables greater than 90 days past due of $48.3 million and $64.6 million at September 30, 2017 and December 31, 2016 , respectively.

Derivative Financial Instrume37

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value And Related Number Of Derivative Contracts Categorized By Predominant Risk Exposure	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 September 30, 2017 and December 31, 2016 . The fair value of assets/liabilities represents our receivable/payable for derivative financial instruments, gross of counterparty netting and cash collateral received and pledged. The following tables also provide information regarding: 1) the extent to which, under enforceable master netting arrangements, such balances are presented net in our 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 financial position (in thousands, except contract amounts): Assets Liabilities Fair Value Number of Contracts Fair Value Number of Contracts September 30, 2017 Derivatives designated as accounting hedges - interest rate contracts $ 11,654 1 $ — — Derivatives not designated as accounting hedges: Interest rate contracts $ 1,777,254 17,997 $ 1,698,297 42,934 Foreign exchange contracts 370,203 5,690 369,971 6,733 Equity contracts 549,030 2,199,786 1,127,705 1,849,003 Commodity contracts 5 3,673 3,543 8,727 Credit contracts 75,867 303 90,678 389 Total 2,772,359 3,290,194 Counterparty/cash-collateral netting (1) (2,595,355 ) (2,714,115 ) Total derivatives not designated as accounting hedges $ 177,004 $ 576,079 Total per Consolidated Statement of Financial Condition (2) $ 188,658 $ 576,079 December 31, 2016 Derivatives not designated as accounting hedges: Interest rate contracts $ 3,282,245 29,032 $ 3,159,457 34,845 Foreign exchange contracts 529,669 7,826 516,869 8,319 Equity contracts 786,987 2,843,329 1,169,201 2,414,715 Commodity contracts 1,906 2,766 6,430 7,289 Credit contracts 26,269 311 28,065 20,084 Total 4,627,076 4,880,022 Counterparty/cash-collateral netting (1) (4,255,998 ) (4,229,213 ) Total per Consolidated Statement of Financial Condition (2) $ 371,078 $ 650,809 (1) Amounts netted include both netting by counterparty and for cash collateral paid or received. (2) We have not received or pledged additional collateral under master netting agreements and/or other credit support agreements that is eligible to be offset beyond what has been offset in the Consolidated Statements of Financial Condition.
Unrealized And Realized Gains (Losses) On Derivative Contracts	The following table provides information related to gains (losses) recognized in Interest expense of Jefferies in the Consolidated Statements of Operations on a fair value hedge (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Interest rate swaps $ 6,217 $ — $ 13,960 $ — Long-term debt (4,680 ) — (9,570 ) — Total $ 1,537 $ — $ 4,390 $ — The following table presents unrealized and realized gains (losses) on derivative contracts which are primarily recognized in Principal transactions revenues in the Consolidated Statements of Operations, which are utilized in connection with our client activities and our economic risk management activities (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Interest rate contracts $ (7,485 ) $ (27,354 ) $ 2,555 $ (101,744 ) Foreign exchange contracts 481 11,089 3,341 15,992 Equity contracts (142,931 ) (184,020 ) (294,635 ) (505,872 ) Commodity contracts (3,626 ) 2,777 (5,169 ) 351 Credit contracts (7,947 ) (3,616 ) 6,133 (3,812 ) Total $ (161,508 ) $ (201,124 ) $ (287,775 ) $ (595,085 )
Remaining Contract Maturity Of Fair Value Of OTC Derivative Assets And Liabilities	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 September 30, 2017 (in thousands): OTC Derivative Assets (1) (2) (3) 0-12 Months 1-5 Years Greater Than 5 Years Cross- Maturity Netting (4) Total Commodity swaps, options and forwards $ — $ 5 $ — $ — $ 5 Equity swaps and options 5,117 3,204 — — 8,321 Credit default swaps 289 3,399 7,421 (26 ) 11,083 Total return swaps 11,411 5,823 — (2,458 ) 14,776 Foreign currency forwards, swaps and options 95,638 29,277 — (14 ) 124,901 Fixed income forwards 134 — — — 134 Interest rate swaps, options and forwards 49,714 171,691 98,719 (83,961 ) 236,163 Total $ 162,303 $ 213,399 $ 106,140 $ (86,459 ) 395,383 Cross product counterparty netting (70,712 ) Total OTC derivative assets included in Trading assets $ 324,671 (1) At September 30, 2017 , we held exchange traded derivative assets and other credit agreements with a fair value of $21.3 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 September 30, 2017 , cash collateral received was $157.3 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. OTC Derivative Liabilities (1) (2) (3) 0-12 Months 1-5 Years Greater Than 5 Years Cross-Maturity Netting (4) Total Commodity swaps, options and forwards $ 1,072 $ — $ — $ — $ 1,072 Equity swaps and options 2,980 146,505 2,631 — 152,116 Credit default swaps 1,077 23,931 — (26 ) 24,982 Total return swaps 11,666 1,802 — (2,458 ) 11,010 Foreign currency forwards, swaps and options 94,182 30,561 — (14 ) 124,729 Fixed income forwards 1,145 — — — 1,145 Interest rate swaps, options and forwards 30,735 97,284 102,566 (83,961 ) 146,624 Total $ 142,857 $ 300,083 $ 105,197 $ (86,459 ) 461,678 Cross product counterparty netting (70,712 ) Total OTC derivative liabilities included in Trading liabilities $ 390,966 (1) At September 30, 2017 , we held exchange traded derivative liabilities and other credit agreements with a fair value of $461.2 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 September 30, 2017 , cash collateral pledged was $276.0 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.
Counterparty Credit Quality With Respect To Fair Value Of OTC Derivatives Assets	At September 30, 2017 , 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 $ 143,935 BBB- to BBB+ 50,742 BB+ or lower 72,249 Unrated 57,745 Total $ 324,671 (1) Jefferies utilizes internal credit ratings determined by the Jefferies Risk Management department. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies.
Credit Related Derivative Contracts	The external credit ratings of the underlyings or referenced assets for our written credit related derivative contracts (in millions): External Credit Rating Investment Grade Non-investment grade Total Notional September 30, 2017 Credit protection sold: Index credit default swaps $ 1,103 $ 338 $ 1,441 Single name credit default swaps $ 139 $ 192 $ 331 December 31, 2016 Credit protection sold: Index credit default swaps $ 54 $ 92 $ 146 Single name credit default swaps $ 122 $ 261 $ 383

Collateralized Transactions (Ta

Collateralized Transactions (Tables)	9 Months Ended
	Sep. 30, 2017
Collateralized Transactions [Abstract]
Schedule of Collateralized Financing Transactions	The following tables set forth the carrying value of securities lending arrangements and repurchase agreements by class of collateral pledged and remaining contractual maturity (in thousands): Collateral Pledged Securities Lending Arrangements Repurchase Agreements Total September 30, 2017 Corporate equity securities $ 2,183,030 $ 100,178 $ 2,283,208 Corporate debt securities 579,925 2,154,639 2,734,564 Mortgage- and asset-backed securities — 3,046,491 3,046,491 U.S. government and federal agency securities 298 12,046,271 12,046,569 Municipal securities — 389,752 389,752 Sovereign obligations — 1,577,231 1,577,231 Loans and other receivables — 524,645 524,645 Total $ 2,763,253 $ 19,839,207 $ 22,602,460 December 31, 2016 Corporate equity securities $ 2,046,243 $ 66,291 $ 2,112,534 Corporate debt securities 731,276 1,907,888 2,639,164 Mortgage- and asset-backed securities — 2,171,480 2,171,480 U.S. government and federal agency securities 41,613 9,232,624 9,274,237 Municipal securities — 553,010 553,010 Sovereign obligations — 2,625,079 2,625,079 Loans and other receivables — 455,960 455,960 Total $ 2,819,132 $ 17,012,332 $ 19,831,464 Contractual Maturity Overnight and Continuous Up to 30 Days 30 to 90 Days Greater than 90 Days Total September 30, 2017 Securities lending arrangements $ 1,490,137 $ — $ 783,633 $ 489,483 $ 2,763,253 Repurchase agreements 12,556,923 3,187,276 3,051,449 1,043,559 19,839,207 Total $ 14,047,060 $ 3,187,276 $ 3,835,082 $ 1,533,042 $ 22,602,460 December 31, 2016 Securities lending arrangements $ 2,131,891 $ 39,673 $ 104,516 $ 543,052 $ 2,819,132 Repurchase agreements 9,147,176 2,008,119 3,809,533 2,047,504 17,012,332 Total $ 11,279,067 $ 2,047,792 $ 3,914,049 $ 2,590,556 $ 19,831,464

Securitization Activities (Tabl

Securitization Activities (Tables)	9 Months Ended
	Sep. 30, 2017
Securitization Activities [Abstract]
Activity Related To Securitizations Accounted For As Sales	The following table presents activity related to Jefferies securitizations that were accounted for as sales in which it had continuing involvement (in millions): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Transferred assets $ 1,009.1 $ 1,390.7 $ 2,677.7 $ 4,523.5 Proceeds on new securitizations $ 1,017.2 $ 1,394.0 $ 2,703.3 $ 4,541.3 Cash flows received on retained interests $ 8.7 $ 6.3 $ 22.7 $ 24.9
Summary Of Retained Interests In SPEs	The following table summarizes Jefferies retained interests in SPEs where it transferred assets and has continuing involvement and received sale accounting treatment (in millions): September 30, 2017 December 31, 2016 Securitization Type Total Assets Retained Interests Total Assets Retained Interests U.S. government agency residential mortgage-backed securities $ 5,584.5 $ 13.9 $ 7,584.9 $ 31.0 U.S. government agency commercial mortgage-backed securities $ 2,103.7 $ 46.9 $ 1,806.3 $ 29.6 CLOs $ 2,936.1 $ 19.6 $ 4,102.2 $ 37.0 Consumer and other loans $ 301.4 $ 57.0 $ 395.7 $ 25.3

Available for Sale Securities (

Available for Sale Securities (Tables)	9 Months Ended
	Sep. 30, 2017
Investments [Abstract]
Amortized Cost, Gross Unrealized Gains And Losses And Estimated Fair Value Of Available For Sale Investments	The amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as available for sale are as follows (in thousands): Amortized Gross Gross Estimated September 30, 2017 Bonds and notes: U.S. government securities $ 345,745 $ 15 $ 20 $ 345,740 Residential mortgage-backed securities 36,925 235 70 37,090 Commercial mortgage-backed securities 10,892 38 22 10,908 Other asset-backed securities 33,150 97 22 33,225 All other corporates 179 — — 179 Total fixed maturities 426,891 385 134 427,142 Equity securities: Common stocks: Banks, trusts and insurance companies 35,071 18,428 — 53,499 Industrial, miscellaneous and all other 17,836 22,020 — 39,856 Total equity securities 52,907 40,448 — 93,355 $ 479,798 $ 40,833 $ 134 $ 520,497 December 31, 2016 Bonds and notes: U.S. government securities $ 174,938 $ 8 $ 13 $ 174,933 Residential mortgage-backed securities 19,129 108 104 19,133 Commercial mortgage-backed securities 8,275 64 2 8,337 Other asset-backed securities 18,918 124 — 19,042 All other corporates 180 — 1 179 Total fixed maturities 221,440 304 120 221,624 Equity securities: Common stocks: Banks, trusts and insurance companies 35,071 15,115 — 50,186 Industrial, miscellaneous and all other 17,946 11,293 — 29,239 Total equity securities 53,017 26,408 — 79,425 $ 274,457 $ 26,712 $ 120 $ 301,049
Amortized Cost And Estimated Fair Value Of Investments Classified As Available For Sale By Contractual Maturity	The amortized cost and estimated fair value of investments classified as available for sale at September 30, 2017 , 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 Cost Estimated Fair Value (In thousands) Due within one year $ 345,745 $ 345,740 Due after one year through five years 179 179 345,924 345,919 Mortgage-backed and asset-backed securities 80,967 81,223 $ 426,891 $ 427,142

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2017
Variable Interest Entities [Abstract]
Assets And Liabilities Of Consolidated VIEs	The following table presents information about the assets and liabilities of our consolidated VIEs, which are presented in our Consolidated Statements of Financial Condition in the respective asset and liability categories (in millions). The assets and liabilities in the table below are presented prior to consolidation and thus a portion of these assets and liabilities are eliminated in consolidation. September 30, 2017 December 31, 2016 Securitization Vehicles Real Estate Investment Vehicles Securitization Vehicles Real Estate Investment Vehicles Cash $ 8.2 $ 1.6 $ 18.4 $ 2.2 Financial instruments owned 44.5 — 86.6 — Securities purchased under agreement to resell (1) 546.7 — 733.5 — Receivables 353.0 281.0 277.7 296.9 Loans to and investments in associated companies — 113.5 — 108.7 Other 19.9 4.4 14.5 10.8 Total assets $ 972.3 $ 400.5 $ 1,130.7 $ 418.6 Other secured financings (2) $ 930.8 $ — $ 1,083.8 $ — Long-term debt — 217.2 24.1 243.9 Other (3) 41.6 11.3 22.3 11.7 Total liabilities $ 972.4 $ 228.5 $ 1,130.2 $ 255.6 Noncontrolling interests $ — $ 104.1 $ — $ 98.7 (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 $49.2 million and $57.6 million of the secured financing represents an amount held by Jefferies in inventory and eliminated in consolidation at September 30, 2017 and December 31, 2016 , respectively. (3) Includes $36.4 million and $20.0 million at September 30, 2017 and December 31, 2016 , respectively, of intercompany payables that are eliminated in consolidation.
Non-Consolidated Variable Interest Entities	The following tables present information about our variable interests in nonconsolidated VIEs (in millions): Financial Statement Carrying Amount Maximum Exposure to Loss VIE Assets Assets Liabilities September 30, 2017 CLOs $ 62.7 $ 1.9 $ 800.1 $ 3,540.8 Consumer loan vehicles 195.8 — 761.9 2,287.2 Related party private equity vehicles 28.1 — 49.8 106.3 Real estate investment vehicles 88.3 — 99.7 83.9 Other private investment vehicles 132.6 — 142.7 4,840.2 Total $ 507.5 $ 1.9 $ 1,854.2 $ 10,858.4 December 31, 2016 CLOs $ 264.7 $ 4.8 $ 930.0 $ 4,472.9 Consumer loan vehicles 90.3 — 219.6 985.5 Related party private equity vehicles 37.6 — 63.6 155.6 Real estate investment vehicles 90.3 — 101.8 85.6 Other private investment vehicles 84.0 — 95.8 4,529.7 Total $ 566.9 $ 4.8 $ 1,410.8 $ 10,229.3

Loans to and Investments In A42

Loans to and Investments In Associated Companies (Tables)	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Loans to and Investments in Associated Companies	A summary of Loans to and investments in associated companies accounted for under the equity method of accounting during the nine months ended September 30, 2017 and 2016 is as follows (in thousands): Loans to and investments in associated companies as of January 1, Income (losses) related to associated companies Income (losses) related to Jefferies associated companies (1) Contributions to (distributions from) associated companies, net Other, including foreign exchange and unrealized gains (losses) Loans to and investments in associated companies as of September 30, 2017 Jefferies Finance $ 490,464 $ — $ 63,685 $ 109,899 $ — $ 664,048 Jefferies LoanCore 154,731 — 8,030 43,714 1,095 207,570 Berkadia 184,443 67,979 — (52,300 ) (174 ) 199,948 FXCM 336,258 (166,360 ) — — 731 170,629 Garcadia Companies 185,815 38,536 — (40,955 ) — 183,396 Linkem 154,000 (26,557 ) — 31,996 33,979 193,418 HomeFed 302,231 9,922 — 31,918 — 344,071 Golden Queen (2) 111,302 (3,684 ) — (59 ) — 107,559 54 Madison (3) 161,400 (4,495 ) — 21,159 — 178,064 Other 44,454 246 (6,392 ) 58,477 5,492 102,277 Total $ 2,125,098 $ (84,413 ) $ 65,323 $ 203,849 $ 41,123 $ 2,350,980 2016 Jefferies Finance $ 528,575 $ — $ (26,000 ) $ (19,300 ) $ — $ 483,275 Jefferies LoanCore 288,741 — 11,186 (133,635 ) — 166,292 Berkadia 190,986 59,456 — (70,847 ) 291 179,886 FXCM — — — — 334,500 334,500 Garcadia Companies 172,660 43,501 — (22,562 ) — 193,599 Linkem 150,149 (20,709 ) — 33,297 4,155 166,892 HomeFed 275,378 23,146 — — — 298,524 Golden Queen 114,323 (1,608 ) — — — 112,715 54 Madison — 3,389 — 123,731 3,642 130,762 Other 36,557 1,270 (1,048 ) 5,265 (3,401 ) 38,643 Total $ 1,757,369 $ 108,445 $ (15,862 ) $ (84,051 ) $ 339,187 $ 2,105,088 (1) Primarily classified in Investment banking revenues and Other revenues. (2) At September 30, 2017 and December 31, 2016 , the balance reflects $31.7 million and $32.8 million , respectively, related to a noncontrolling interest. (3) At September 30, 2017 and December 31, 2016 , the balance reflects $105.0 million and $95.3 million , respectively, related to noncontrolling interests. Income (losses) related to associated companies includes the following (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Berkadia $ 34,839 $ 26,004 $ 67,979 $ 59,456 FXCM (4,345 ) — (166,360 ) — Garcadia companies 12,565 14,233 38,536 43,501 Linkem (9,533 ) (5,836 ) (26,557 ) (20,709 ) HomeFed 238 800 9,922 23,146 Golden Queen (1,975 ) 56 (3,684 ) (1,608 ) 54 Madison (331 ) 906 (4,495 ) 3,389 Other (1,401 ) 340 246 1,270 Total $ 30,057 $ 36,503 $ (84,413 ) $ 108,445 Income (losses) related to Jefferies associated companies (primarily classified in Investment banking revenues and Other revenues) includes the following (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Jefferies Finance $ 13,509 $ 12,481 $ 63,685 $ (26,000 ) Jefferies LoanCore 1,656 3,172 8,030 11,186 Other (4,337 ) (263 ) (6,392 ) (1,048 ) Total $ 10,828 $ 15,390 $ 65,323 $ (15,862 )
Schedule of Equity Method Investments	The following table provides summarized data for certain associated companies (Jefferies Finance, Jefferies LoanCore, Berkadia, Garcadia, Linkem and HomeFed) (in thousands): For the Nine Months Ended September 30, 2017 2016 Revenues $ 3,101,152 $ 2,839,721 Income from continuing operations before extraordinary items $ 291,261 $ 161,514 Net income $ 291,261 $ 165,184

Financial Statement Offsetting

Financial Statement Offsetting (Tables)	9 Months Ended
	Sep. 30, 2017
Offsetting [Abstract]
Summary of Offsetting Assets	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. (In thousands) Gross Amounts Netting in Consolidated Statements of Financial Condition Net Amounts in Consolidated Statements of Financial Condition Additional Amounts Available for Setoff (1) Available Collateral (2) Net Amount (3) Assets at September 30, 2017 Derivative contracts $ 2,784,013 $ (2,595,355 ) $ 188,658 $ — $ — $ 188,658 Securities borrowing arrangements $ 7,758,532 $ — $ 7,758,532 $ (662,882 ) $ (952,004 ) $ 6,143,646 Reverse repurchase agreements $ 14,737,223 $ (11,365,788 ) $ 3,371,435 $ (307,453 ) $ (3,037,903 ) $ 26,079 Liabilities at September 30, 2017 Derivative contracts $ 3,290,194 $ (2,714,115 ) $ 576,079 $ — $ — $ 576,079 Securities lending arrangements $ 2,763,253 $ — $ 2,763,253 $ (662,882 ) $ (2,058,137 ) $ 42,234 Repurchase agreements $ 19,839,207 $ (11,365,788 ) $ 8,473,419 $ (307,453 ) $ (7,216,449 ) $ 949,517 Assets at December 31, 2016 Derivative contracts $ 4,627,076 $ (4,255,998 ) $ 371,078 $ — $ — $ 371,078 Securities borrowing arrangements $ 7,743,562 $ — $ 7,743,562 $ (710,611 ) $ (647,290 ) $ 6,385,661 Reverse repurchase agreements $ 14,083,144 $ (10,220,656 ) $ 3,862,488 $ (176,275 ) $ (3,591,654 ) $ 94,559 Liabilities at December 31, 2016 Derivative contracts $ 4,880,022 $ (4,229,213 ) $ 650,809 $ — $ — $ 650,809 Securities lending arrangements $ 2,819,132 $ — $ 2,819,132 $ (710,611 ) $ (2,064,299 ) $ 44,222 Repurchase agreements $ 17,012,332 $ (10,220,656 ) $ 6,791,676 $ (176,275 ) $ (5,780,909 ) $ 834,492 (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 a counterparty in the event of a counterparty’s default, but which are not netted in the balance sheet because other provisions of 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 September 30, 2017 , amounts include $6,088.9 million of securities borrowing arrangements, for which we have received securities collateral of $5,942.3 million , and $887.2 million of repurchase agreements, for which we have pledged securities collateral of $908.8 million , which are subject to master netting agreements but we have not determined the agreements to be legally enforceable. At December 31, 2016 , amounts include $6,337.5 million of securities borrowing arrangements, for which we have received securities collateral of $6,146.0 million , and $810.4 million of repurchase agreements, for which we have pledged securities collateral of $834.2 million , which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.
Summary of Offsetting Liabilities	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. (In thousands) Gross Amounts Netting in Consolidated Statements of Financial Condition Net Amounts in Consolidated Statements of Financial Condition Additional Amounts Available for Setoff (1) Available Collateral (2) Net Amount (3) Assets at September 30, 2017 Derivative contracts $ 2,784,013 $ (2,595,355 ) $ 188,658 $ — $ — $ 188,658 Securities borrowing arrangements $ 7,758,532 $ — $ 7,758,532 $ (662,882 ) $ (952,004 ) $ 6,143,646 Reverse repurchase agreements $ 14,737,223 $ (11,365,788 ) $ 3,371,435 $ (307,453 ) $ (3,037,903 ) $ 26,079 Liabilities at September 30, 2017 Derivative contracts $ 3,290,194 $ (2,714,115 ) $ 576,079 $ — $ — $ 576,079 Securities lending arrangements $ 2,763,253 $ — $ 2,763,253 $ (662,882 ) $ (2,058,137 ) $ 42,234 Repurchase agreements $ 19,839,207 $ (11,365,788 ) $ 8,473,419 $ (307,453 ) $ (7,216,449 ) $ 949,517 Assets at December 31, 2016 Derivative contracts $ 4,627,076 $ (4,255,998 ) $ 371,078 $ — $ — $ 371,078 Securities borrowing arrangements $ 7,743,562 $ — $ 7,743,562 $ (710,611 ) $ (647,290 ) $ 6,385,661 Reverse repurchase agreements $ 14,083,144 $ (10,220,656 ) $ 3,862,488 $ (176,275 ) $ (3,591,654 ) $ 94,559 Liabilities at December 31, 2016 Derivative contracts $ 4,880,022 $ (4,229,213 ) $ 650,809 $ — $ — $ 650,809 Securities lending arrangements $ 2,819,132 $ — $ 2,819,132 $ (710,611 ) $ (2,064,299 ) $ 44,222 Repurchase agreements $ 17,012,332 $ (10,220,656 ) $ 6,791,676 $ (176,275 ) $ (5,780,909 ) $ 834,492 (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 a counterparty in the event of a counterparty’s default, but which are not netted in the balance sheet because other provisions of 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 September 30, 2017 , amounts include $6,088.9 million of securities borrowing arrangements, for which we have received securities collateral of $5,942.3 million , and $887.2 million of repurchase agreements, for which we have pledged securities collateral of $908.8 million , which are subject to master netting agreements but we have not determined the agreements to be legally enforceable. At December 31, 2016 , amounts include $6,337.5 million of securities borrowing arrangements, for which we have received securities collateral of $6,146.0 million , and $810.4 million of repurchase agreements, for which we have pledged securities collateral of $834.2 million , which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.

Intangible Assets, Net and Go44

Intangible Assets, Net and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets, Net And Goodwill	A summary of Intangible assets, net and goodwill is as follows (in thousands): September 30, 2017 December 31, 2016 Indefinite-lived intangibles: Exchange and clearing organization membership interests and registrations $ 8,734 $ 9,041 Amortizable intangibles: Customer and other relationships, net of accumulated amortization of $222,095 and $198,674 355,253 378,136 Trademarks and tradename, net of accumulated amortization of $91,350 and $78,778 297,349 309,382 Supply contracts, net of accumulated amortization of $55,047 and $47,867 88,553 95,733 Other, net of accumulated amortization of $3,642 and $2,914 4,944 5,672 Total intangible assets, net 754,833 797,964 Goodwill: National Beef 14,991 14,991 Jefferies 1,699,609 1,696,864 Other operations 3,859 3,859 Total goodwill 1,718,459 1,715,714 Total Intangible assets, net and goodwill $ 2,473,292 $ 2,513,678
Schedule of Estimated Aggregate Future Amortization Expense	The estimated aggregate future amortization expense for the intangible assets for each of the next five years is as follows (in thousands): Remainder of current year $ 14,612 2018 $ 58,454 2019 $ 58,454 2020 $ 58,455 2021 $ 58,067

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory, Net [Abstract]
Summary Of Inventory	A summary of inventory, which is classified as Other assets, is as follows (in thousands): September 30, 2017 December 31, 2016 Finished goods $ 238,752 $ 243,488 Work in process 35,234 35,714 Raw materials, supplies and other 32,333 30,733 Total inventory $ 306,319 $ 309,935

Short-Term Borrowings (Tables)

Short-Term Borrowings (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Short-term Borrowings	Jefferies short-term borrowings, which mature in one year or less, are as follows (in thousands): September 30, 2017 December 31, 2016 Bank loans $ 304,537 $ 372,301 Secured revolving loan facilities — 57,086 Floating rate puttable notes 108,304 96,455 Equity-linked notes 4,281 — Total short-term borrowings $ 417,122 $ 525,842

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Aggregate Indebtedness [Abstract]
Schedule Of Indebtedness	The principal amount (net of unamortized discounts and premiums), stated interest rate and maturity date of outstanding debt are as follows (dollars in thousands): September 30, 2017 December 31, 2016 Parent Company Debt: Senior Notes: 5.50% Senior Notes due October 18, 2023, $750,000 principal $ 742,072 $ 741,264 6.625% Senior Notes due October 23, 2043, $250,000 principal 246,661 246,627 Total long-term debt – Parent Company 988,733 987,891 Subsidiary Debt (non-recourse to Parent Company): Jefferies: 5.125% Senior Notes, due April 13, 2018, $707,000 and $800,000 principal 714,115 817,813 8.50% Senior Notes, due July 15, 2019, $684,000 and $700,000 principal 739,465 778,367 2.375% Euro Medium Term Notes, due May 20, 2020, $595,075 and $529,975 principal 593,547 528,250 6.875% Senior Notes, due April 15, 2021, $750,000 principal 812,131 823,797 2.25% Euro Medium Term Notes, due July 13, 2022, $4,761 and $4,240 principal 4,374 3,848 5.125% Senior Notes, due January 20, 2023, $600,000 principal 616,378 618,355 4.85% Senior Notes, due January 15, 2027, $750,000 principal (1) 753,932 — 6.45% Senior Debentures, due June 8, 2027, $350,000 principal 376,307 377,806 3.875% Convertible Senior Debentures, due November 1, 2029, $345,000 principal 345,217 346,163 6.25% Senior Debentures, due January 15, 2036, $500,000 principal 512,131 512,396 6.50% Senior Notes, due January 20, 2043, $400,000 principal 421,078 421,333 Structured Notes (2) 561,010 255,203 National Beef Reducing Revolver Loan 87,500 — National Beef Revolving Credit Facility 21,821 — National Beef Term Loan — 273,811 54 Madison Term Loans 313,727 406,028 Foursight Capital Credit Facilities 114,329 97,138 Other 116,847 132,244 Total long-term debt – subsidiaries 7,103,909 6,392,552 Long-term debt $ 8,092,642 $ 7,380,443 (1) Amount includes $9.6 million associated with an interest rate swap based on its designation as a fair value hedge. See Notes 2 and 4 for further information. (2) Includes $553.9 million and $248.9 million at fair value at September 30, 2017 and December 31, 2016 , respectively.

Mezzanine Equity (Tables)

Mezzanine Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Temporary Equity Disclosure [Abstract]
Schedule Of Redeemable Noncontrolling Interests	The following table rolls forward National Beef’s redeemable noncontrolling interests activity during the nine months ended September 30, 2017 and 2016 (in thousands): For the Nine Months Ended September 30, 2017 2016 As of January 1, $ 321,962 $ 189,358 Income allocated to redeemable noncontrolling interests 65,088 40,225 Distributions to redeemable noncontrolling interests (37,029 ) (18,460 ) Increase (decrease) in fair value of redeemable noncontrolling interests 24,404 134,503 Balance, September 30, $ 374,425 $ 345,626
Sensitivity Analysis Of Fair Value Of Redeemable Noncontrolling Interests Using Discount And Terminal Growth Rates	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 September 30, 2017 (dollars in millions): Discount Rates Terminal Growth Rates 11.65% 11.90% 12.15% 1.75% $ 379.3 $ 370.7 $ 362.6 2.00% $ 383.2 $ 374.4 $ 366.0 2.25% $ 387.4 $ 378.3 $ 369.7

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary Of Accumulated Other Comprehensive Income, Net Of Taxes	A summary of accumulated other comprehensive income, net of taxes is as follows (in thousands): September 30, 2017 December 31, 2016 Net unrealized gains on available for sale securities $ 570,240 $ 561,497 Net unrealized foreign exchange losses (130,394 ) (184,829 ) Net unrealized losses on instrument specific credit risk (15,364 ) (6,494 ) Net unrealized losses on cash flow hedges (1,585 ) — Net minimum pension liability (59,411 ) (59,477 ) $ 363,486 $ 310,697
Schedule Of Accumulated Other Comprehensive Income Reclassifications	For the nine months ended September 30, 2017 and 2016 , significant amounts reclassified out of accumulated other comprehensive income to net income are as follows (in thousands): Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations 2017 2016 Net unrealized gains on available for sale securities, net of income tax provision of $14 and $5 $ 24 $ 8 Net realized securities gains Net unrealized foreign exchange losses, net of income tax provision of $1,086 and $0 (5,310 ) — Other income and other expenses Amortization of defined benefit pension plan actuarial losses, net of income tax benefit of $(604) and $(526) (1,297 ) (1,150 ) Compensation and benefits, which includes pension expense. Other pension, net of income tax benefit of $(1,231) and $0 1,231 — Income tax provision (benefit) Total reclassifications for the period, net of tax $ (5,352 ) $ (1,142 )

Earnings (Loss) Per Common Sh50

Earnings (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share Computation	The numerators and denominators used to calculate basic and diluted earnings (loss) per share are as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Numerator for earnings (loss) per share: Net income (loss) attributable to Leucadia National Corporation common shareholders $ 99,351 $ 154,358 $ 438,952 $ (11,233 ) Allocation of earnings to participating securities (1) (368 ) (2,060 ) (1,692 ) — Net income (loss) attributable to Leucadia National Corporation common shareholders for basic earnings (loss) per share 98,983 152,298 437,260 (11,233 ) Adjustment to allocation of earnings to participating securities related to diluted shares (1) (2 ) 6 3 — Mandatorily redeemable convertible preferred share dividends — 1,016 3,203 — Net income (loss) attributable to Leucadia National Corporation common shareholders for diluted earnings (loss) per share $ 98,981 $ 153,320 $ 440,466 $ (11,233 ) Denominator for earnings (loss) per share: Denominator for basic earnings (loss) per share – weighted average shares 367,828 370,404 368,736 371,814 Stock options 23 1 22 — Warrants — — — — Senior executive compensation plan awards 2,347 — 2,313 — Mandatorily redeemable convertible preferred shares — 4,162 4,162 — 3.875% Convertible Senior Debentures — — — — Denominator for diluted earnings (loss) per share 370,198 374,567 375,233 371,814 (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 1,366,700 and 5,009,500 for the three months ended September 30, 2017 and 2016 , respectively, and 1,433,500 and 4,859,900 for the nine months ended September 30, 2017 and 2016 , respectively. Dividends declared on participating securities were not material during three and nine months ended September 30, 2017 and 2016 . Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed.

Commitments, Contingencies an51

Commitments, Contingencies and Guarantees (Tables)	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	The following table summarizes commitments associated with certain business activities (in millions): Expected Maturity Date 2017 2018 2019 and 2020 2021 and 2022 2023 and Later Maximum Payout Equity commitments (1) $ 9.3 $ 40.2 $ 11.4 $ — $ 214.2 $ 275.1 Loan commitments (1) — 244.1 — 53.0 — 297.1 Mortgage-related and other purchase commitments — — 177.7 — — 177.7 Underwriting commitments 70.0 — — — — 70.0 Forward starting reverse repos (2) 3,943.7 — — — — 3,943.7 Forward starting repos (2) 2,018.0 — — — — 2,018.0 Other unfunded commitments (1) 45.0 154.5 130.6 226.2 12.1 568.4 $ 6,086.0 $ 438.8 $ 319.7 $ 279.2 $ 226.3 $ 7,350.0 (1) Equity commitments, loan commitments and other unfunded commitments are presented by contractual maturity date. The amounts are however mostly available on demand. (2) At September 30, 2017 , all of the forward starting securities purchased under agreements to resell and securities sold under agreements to repurchase (collectively “repos”) settled within three business days.
Guarantees	The following table summarizes the notional amounts associated with our derivative contracts meeting the definition of a guarantee under GAAP as of September 30, 2017 (in millions): Expected Maturity Date Guarantee Type 2017 2018 2019 and 2020 2021 and 2022 2023 and Later Notional/ Maximum Payout Derivative contracts – non-credit related $ 8,530.1 $ 5,114.5 $ 2,183.1 $ 215.0 $ 595.7 $ 16,638.4 Written derivative contracts – credit related — 41.4 10.0 279.8 — 331.2 Total derivative contracts $ 8,530.1 $ 5,155.9 $ 2,193.1 $ 494.8 $ 595.7 $ 16,969.6

Net Capital Requirements (Table

Net Capital Requirements (Tables)	9 Months Ended
	Sep. 30, 2017
Net Capital Requirements [Abstract]
Net Capital, Adjusted Net Capital And Excess Net Capital	Jefferies LLC and Jefferies Execution’s net capital and excess net capital as of September 30, 2017 were as follows (in thousands): Net Capital Excess Net Capital Jefferies LLC $ 1,491,122 $ 1,411,625 Jefferies Execution $ 7,961 $ 7,711

Other Fair Value Information (T

Other Fair Value Information (Tables)	9 Months Ended
	Sep. 30, 2017
Other Fair Value Information [Abstract]
Methods And Assumptions Used To Estimate The Fair Values	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): September 30, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Receivables: Notes and loans receivable (1) $ 961,641 $ 950,780 $ 962,938 $ 958,377 Financial Liabilities: Short-term borrowings (2) $ 412,841 $ 412,841 $ 525,842 $ 525,842 Long-term debt (3) $ 7,538,772 $ 7,930,261 $ 7,131,587 $ 7,221,459 (1) Notes and loans receivable: The fair values are estimated principally based on a discounted future cash flows model using market interest rates for similar instruments. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. (2) Short-term borrowings: The fair values of short-term borrowings are estimated to be the carrying amount due to their short maturities. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. (3) Long-term debt: The fair values are estimated using quoted prices, pricing information obtained from external data providers and, for certain variable rate debt, is estimated to be the carrying amount. If measured at fair value in the financial statements, these financial instruments would be classified as Level 2 and Level 3 in the fair value hierarchy.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information, By Segment	Certain information concerning our segments is presented in the following table. Consolidated subsidiaries are reflected as of the date a majority controlling interest was acquired. As discussed above, Jefferies is reflected in our consolidated financial statements utilizing a one month lag. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Net Revenues: Reportable Segments: Jefferies $ 802,909 $ 656,496 $ 2,381,967 $ 1,678,212 National Beef 2,039,299 1,747,042 5,476,274 5,180,127 Corporate and other 21,722 1,006 31,748 78,354 Total net revenues related to reportable segments 2,863,930 2,404,544 7,889,989 6,936,693 All other 32,592 271,831 606,895 380,146 Total consolidated net revenues $ 2,896,522 $ 2,676,375 $ 8,496,884 $ 7,316,839 Income (loss) before income taxes: Reportable Segments: Jefferies $ 128,112 $ 83,190 $ 383,094 $ (55,127 ) National Beef 174,479 108,269 310,007 192,533 Corporate and other 1,595 (16,619 ) (30,167 ) 23,926 Income before income taxes related to reportable segments 304,186 174,840 662,934 161,332 All other (89,422 ) 89,791 104,073 (29,769 ) Parent Company interest (14,737 ) (14,722 ) (44,201 ) (44,155 ) Total consolidated income before income taxes $ 200,027 $ 249,909 $ 722,806 $ 87,408 Depreciation and amortization expenses: Reportable Segments: Jefferies $ 15,928 $ 16,108 $ 46,877 $ 45,331 National Beef 26,664 23,100 73,522 68,511 Corporate and other 865 867 2,599 2,754 Total depreciation and amortization expenses related to reportable segments 43,457 40,075 122,998 116,596 All other 11,967 12,616 32,653 36,474 Total consolidated depreciation and amortization expenses $ 55,424 $ 52,691 $ 155,651 $ 153,070

Nature of Operations (Details)

Nature of Operations (Details) $ / shares in Units, $ in Thousands	Oct. 31, 2017USD ($)	Jan. 31, 2017USD ($)	Sep. 30, 2017USD ($)Dealershipfacilitydirector	Sep. 30, 2016USD ($)	May 24, 2017$ / shares	Dec. 31, 2016	Sep. 01, 2016director	Jan. 31, 2015USD ($)
Nature Of Operations [Line Items]
Pre-tax gain from sale of subsidiary			$ 178,236	$ 0
HomeFed Corporation [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			70.00%
Number of directors appointed by Company | director			3
Foursight Capital [Member]
Nature Of Operations [Line Items]
Percentage interest owned in subsidiary			100.00%
Chrome Capital [Member]
Nature Of Operations [Line Items]
Percentage interest owned in subsidiary			85.00%
National Beef [Member]
Nature Of Operations [Line Items]
Percentage interest owned in subsidiary			78.90%
HRG [Member]
Nature Of Operations [Line Items]
Percentage of outstanding common stock owned			23.00%			23.00%
Garcadia [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			75.00%
Number of automobile dealerships | Dealership			28
Jefferies LoanCore [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			48.50%
Jefferies Finance [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			50.00%
FXCM [Member]
Nature Of Operations [Line Items]
Senior secured term loan receivable			$ 67,600					$ 300,000
Percentage interest owned in subsidiary			50.10%
Berkadia [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			50.00%
Linkem [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			42.00%
Percentage of ownership upon conversion of note			53.00%
Golden Queen Mining Company, LLC [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			35.00%
Vitesse Energy, LLC [Member]
Nature Of Operations [Line Items]
Percentage interest owned in subsidiary			96.00%
JETX Energy, LLC [Member]
Nature Of Operations [Line Items]
Percentage interest owned in subsidiary			98.00%
Tanning Facility [Member] | National Beef [Member]
Nature Of Operations [Line Items]
Domestic facilities | facility			1
Beef Processing Facility [Member] | National Beef [Member]
Nature Of Operations [Line Items]
Domestic facilities | facility			2
Consumer-Ready Facility [Member] | National Beef [Member]
Nature Of Operations [Line Items]
Domestic facilities | facility			3
Product Segment [Member] | Spectrum Brands [Member]
Nature Of Operations [Line Items]
Percentage of outstanding common stock owned			59.00%
Insurance Segment [Member] | Fidelity & Guaranty Life [Member]
Nature Of Operations [Line Items]
Percentage of outstanding common stock owned			80.00%
CF Corporation [Member] | Fidelity & Guaranty Life [Member]
Nature Of Operations [Line Items]
Business acquisition, share price (in USD per share) | $ / shares					$ 31.10
Investment in FXCM [Member]
Nature Of Operations [Line Items]
Percentage of ownership owned			49.90%				49.90%
Maximum percentage of all distributions			65.00%				65.00%
Number of directors appointed | director			6				6
Number of directors appointed by Company | director			3				3
Number of directors appointed by Co-Investee | director			3				3
Disposed of by Sale [Member] | Conwed [Member]
Nature Of Operations [Line Items]
Percentage interest owned in subsidiary		100.00%
Cash from sale of subsidiary		$ 295,000
Potential earn-out payment to be received from sale of subsidiary, period		5 years
Pre-tax gain from sale of subsidiary			$ 178,200
Maximum [Member] | Disposed of by Sale [Member] | Conwed [Member]
Nature Of Operations [Line Items]
Potential earn-out payment to be received from sale of subsidiary		$ 40,000
Subsequent Event [Member] | Disposed of by Sale [Member] | Jefferies LoanCore [Member] | Jefferies [Member]
Nature Of Operations [Line Items]
Consideration for sale of business	$ 170,000
Period entitled to additional cash consideration	5 years

Basis of Presentation and Sig56

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Receivables from brokers, dealers and clearing organizations	$ 2,674,700		$ 2,674,700		$ 2,062,900
Receivables from customers of securities operations	1,291,500		1,291,500		843,100
Payables to brokers, dealers and clearing organizations	2,668,900		2,668,900		3,290,400
Payables to customers of securities operations	2,459,700		2,459,700		$ 2,297,300
Transfer of investment from trading assets to loans to and investments in associated companies		$ 334,500		$ 334,500
Purchase of common shares for treasury settled subsequent to quarter end			21,000	13,300
Cash paid during the year for:
Interest			837,020	727,115
Income tax payments (refunds), net			$ 9,183	$ (13,933)
Two largest consolidated subsidiaries revenue as percentage of total net revenues			92.00%
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative hedging relationship effective percentage			80.00%
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative hedging relationship effective percentage			125.00%
Selling, general and other expenses [Member]
Summary Of Significant Accounting Policies [Line Items]
Impairment of oil and gas properties	$ 10,100	$ 55,000

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule Of Assets And Liabilities Measured On Recurring Basis At Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value based on NAV	$ 24,200	$ 24,300
Counterparty/cash-collateral netting, Assets	(2,595,355)	(4,255,998)
Total trading assets, excluding investments at fair value based on NAV	15,480,884	14,960,928
Total available for sale securities	520,497	301,049
Counterparty/cash-collateral netting, Liabilities	(2,714,115)	(4,229,213)
Total trading liabilities	8,767,710	8,388,619
Other secured financings		41,768
Short-term borrowings	4,281
Long-term debt - structured notes	553,870	248,856
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	903,744	857,337
Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	1,609,126	1,610,667
Corporate debt securities	1,575,453	1,718,947
U.S. government and federal agency securities	1,314,800	976,497
Financial Instruments Sold, Not yet Purchased, State and Municipal Government Obligations	44
Sovereign obligations	2,253,529	2,629,344
Loans	1,437,665	802,355
Derivatives	576,079	650,809
Counterparty/cash-collateral netting, Liabilities	(2,714,115)	(4,229,213)
Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	2,845,874	2,637,555
Corporate debt securities	2,757,958	2,700,025
Collateralized debt obligations and collateralized loan obligations	104,503	108,660
U.S. government and federal agency securities	1,929,445	2,446,123
Municipal securities	680,634	735,726
Sovereign obligations	2,052,317	2,423,048
Loans and other receivables	2,077,306	1,639,105
Derivatives	188,658	371,078
Counterparty/cash-collateral netting, Assets	(2,595,355)	(4,255,998)
Investments at fair value	328,969	314,359
FXCM term loan	70,800	164,500
Available For Sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	93,355	79,425
Corporate debt securities	179	179
U.S. government and federal agency securities	345,740	174,933
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading assets, excluding investments at fair value based on NAV	6,026,598	6,348,755
Total available for sale securities	439,095	254,358
Total trading liabilities	4,648,705	3,948,201
Other secured financings		0
Short-term borrowings	0
Long-term debt - structured notes	0	0
Level 1 [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	1,585,186	1,593,548
Corporate debt securities	0	0
U.S. government and federal agency securities	1,314,800	976,497
Financial Instruments Sold, Not yet Purchased, State and Municipal Government Obligations	0
Sovereign obligations	1,600,423	1,375,590
Loans	0	0
Derivatives	148,296	2,566
Level 1 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	99,800	99,900
Level 1 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	2,740,135	2,522,977
Corporate debt securities	0	0
Collateralized debt obligations and collateralized loan obligations	0	0
U.S. government and federal agency securities	1,834,270	2,389,397
Municipal securities	0	0
Sovereign obligations	1,384,264	1,432,556
Loans and other receivables	0	0
Derivatives	67,929	3,825
Investments at fair value	0	0
FXCM term loan	0	0
Level 1 [Member] | Available For Sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	93,355	79,425
Corporate debt securities	0	0
U.S. government and federal agency securities	345,740	174,933
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading assets, excluding investments at fair value based on NAV	11,380,055	12,072,393
Total available for sale securities	81,402	46,691
Total trading liabilities	6,821,406	8,658,547
Other secured financings		41,350
Short-term borrowings	4,281
Long-term debt - structured notes	553,870	248,856
Level 2 [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	23,821	16,806
Corporate debt securities	1,574,931	1,718,424
U.S. government and federal agency securities	0	0
Financial Instruments Sold, Not yet Purchased, State and Municipal Government Obligations	44
Sovereign obligations	653,106	1,253,754
Loans	1,434,380	801,977
Derivatives	3,134,145	4,867,586
Level 2 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	83,565	92,839
Corporate debt securities	2,732,943	2,675,020
Collateralized debt obligations and collateralized loan obligations	54,433	54,306
U.S. government and federal agency securities	95,175	56,726
Municipal securities	680,634	708,469
Sovereign obligations	668,053	990,492
Loans and other receivables	2,014,650	1,557,233
Derivatives	2,713,413	4,616,822
Investments at fair value	0	0
FXCM term loan	0	0
Level 2 [Member] | Available For Sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	0	0
Corporate debt securities	179	179
U.S. government and federal agency securities	0	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading assets, excluding investments at fair value based on NAV	669,586	795,778
Total available for sale securities	0	0
Total trading liabilities	11,714	11,084
Other secured financings		418
Short-term borrowings	0
Long-term debt - structured notes	0	0
Level 3 [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	119	313
Corporate debt securities	522	523
U.S. government and federal agency securities	0	0
Financial Instruments Sold, Not yet Purchased, State and Municipal Government Obligations	0
Sovereign obligations	0	0
Loans	3,285	378
Derivatives	7,753	9,870
Level 3 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	22,174	21,739
Corporate debt securities	25,015	25,005
Collateralized debt obligations and collateralized loan obligations	50,070	54,354
U.S. government and federal agency securities	0	0
Municipal securities	0	27,257
Sovereign obligations	0	0
Loans and other receivables	62,656	81,872
Derivatives	2,671	6,429
Investments at fair value	328,969	314,359
FXCM term loan	70,800	164,500
Level 3 [Member] | Available For Sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate equity securities	0	0
Corporate debt securities	0	0
U.S. government and federal agency securities	0	0
Residential Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available for sale securities	37,090	19,133
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	1,691,819	999,266
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	37,090	19,133
Residential Mortgage-Backed Securities [Member] | Level 1 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	0	0
Residential Mortgage-Backed Securities [Member] | Level 1 [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	0	0
Residential Mortgage-Backed Securities [Member] | Level 2 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	1,671,170	960,494
Residential Mortgage-Backed Securities [Member] | Level 2 [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	37,090	19,133
Residential Mortgage-Backed Securities [Member] | Level 3 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	20,649	38,772
Residential Mortgage-Backed Securities [Member] | Level 3 [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	0	0
Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available for sale securities	10,908	8,337
Commercial Mortgage-Backed Securities [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	1,014
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	526,301	316,985
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	10,908	8,337
Commercial Mortgage-Backed Securities [Member] | Level 1 [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0
Commercial Mortgage-Backed Securities [Member] | Level 1 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	0	0
Commercial Mortgage-Backed Securities [Member] | Level 1 [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	0	0
Commercial Mortgage-Backed Securities [Member] | Level 2 [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	979
Commercial Mortgage-Backed Securities [Member] | Level 2 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	508,665	296,405
Commercial Mortgage-Backed Securities [Member] | Level 2 [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	10,908	8,337
Commercial Mortgage-Backed Securities [Member] | Level 3 [Member] | Trading Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	35
Commercial Mortgage-Backed Securities [Member] | Level 3 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	17,636	20,580
Commercial Mortgage-Backed Securities [Member] | Level 3 [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	0	0
Other Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available for sale securities	33,225	19,042
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	226,300	104,498
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	33,225	19,042
Other Asset-Backed Securities [Member] | Level 1 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	0	0
Other Asset-Backed Securities [Member] | Level 1 [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	0	0
Other Asset-Backed Securities [Member] | Level 2 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	157,354	63,587
Other Asset-Backed Securities [Member] | Level 2 [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	33,225	19,042
Other Asset-Backed Securities [Member] | Level 3 [Member] | Trading Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage- and asset-backed securities, assets	68,946	40,911
Other Asset-Backed Securities [Member] | Level 3 [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	$ 0	$ 0

Fair Value Disclosures (Investm

Fair Value Disclosures (Investment in FXCM Narrative) (Details)	Sep. 01, 2016USD ($)director	Feb. 28, 2017USD ($)Employeedirector	Sep. 30, 2017USD ($)director	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)director	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)director	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 31, 2015USD ($)
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Unrealized and realized gains (losses), interest income and fees			$ 95,419,000	$ 299,066,000	$ 737,955,000	$ 458,930,000
Investment in associated company			2,350,980,000	2,105,088,000	2,350,980,000	2,105,088,000	$ 2,350,980,000	$ 2,125,098,000	$ 1,757,369,000
FXCM [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Senior secured term loan receivable			67,600,000		$ 67,600,000		67,600,000			$ 300,000,000
Loan receivable interest rate percentage										10.00%
Increase in Interest rate per annum each quarter										1.50%
Accrued interest rate					20.50%
Principal and interest payments received					$ 111,300,000
Principal, interest and fees received							$ 328,000,000
Initial investment amount										$ 279,000,000
Unrealized and realized gains (losses), interest income and fees			$ 2,300,000	$ 42,700,000	$ 17,600,000	$ (58,300,000)
Expected number of positions eliminated | Employee		170
Expected number of positions eliminated, as percentage of global workforce		22.00%
Percentage of ownership owned			50.10%		50.10%		50.10%
Investment in associated company			$ 170,600,000		$ 170,600,000		$ 170,600,000
Investment in FXCM			$ 241,400,000		$ 241,400,000		$ 241,400,000
Global Brokerage Holdings [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Percentage of ownership owned			74.50%		74.50%		74.50%
Maximum [Member] | FXCM [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Loan receivable interest rate percentage										20.50%
Investment in FXCM [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Percentage of ownership owned	49.90%		49.90%		49.90%		49.90%
Maximum percentage of all distributions	65.00%		65.00%		65.00%		65.00%
Number of directors appointed | director	6		6		6		6
Number of directors appointed by Company | director	3		3		3		3
Number of directors appointed by Co-Investee | director	3		3		3		3
Percentage of distributions from sale of assets or certain other events until loan repayment	100.00%
Percentage of distributions from sale of assets or certain other events until next milestone amount	45.00%
Distributions milestone after loan repayment	$ 350,000,000
Percentage of distributions from sale of assets or certain other events until milestone two	79.20%
Distributions milestone two after loan repayment	$ 500,000,000
Percentage of distributions from sale of assets or certain other events thereafter	51.60%
Number of directors with right to terminate management and any unvested incentive compensation | director		3
FXCM Term Loan Receivable [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Senior secured term loan, receivable extension term	1 year
National Futures Association [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlement amount		$ 0
Commodity Futures Trading Commission [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlement amount		$ 7,000,000
United States [Member] | FXCM [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Revenue, by geographical area, percentage		20.00%
Trading Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
FXCM term loan			$ 70,800,000		$ 70,800,000		$ 70,800,000	$ 164,500,000

Fair Value Disclosures (Nonrecu

Fair Value Disclosures (Nonrecurring Fair Value Measurements Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate				11.90%
Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets, fair value			$ 51.6
Investment in FXCM [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investment impairment		$ 130.2
Investment in FXCM [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate				15.00%
EBITDA multiple				5.4
Revenue multiple				1.5
Investment in FXCM [Member] | Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments, fair value		$ 186.7
Selling, general and other expenses [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of oil and gas properties	$ 10.1		$ 55

Fair Value Disclosures (Inves60

Fair Value Disclosures (Investments Measured At Fair Value Based On Net Asset Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 565,456	$ 539,627
Unfunded Commitments	19,084	20,295
Equity Long/Short Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	406,280	363,256
Unfunded Commitments	0	0
Fixed Income and High Yield Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	421	772
Unfunded Commitments	0	0
Fund of Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	183	230
Unfunded Commitments	0	0
Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	33,568	42,179
Unfunded Commitments	19,084	20,295
Multi-asset Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	125,004	133,190
Unfunded Commitments	$ 0	$ 0

Fair Value Disclosures (Inves61

Fair Value Disclosures (Investments Measured At Fair Value Based On Net Asset Value) (Additional Information) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Transfer of investment from trading assets to loans to and investments in associated companies		$ 334.5		$ 334.5
Multi-asset Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of investments redeemable	15.00%		15.00%		12.00%
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
Minimum [Member] | Multi-asset 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
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	6 years
Maximum [Member] | Multi-asset Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Notice period redemption of investments prior written notice period			90 days
10 business days or less prior written notice [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			10 days
Percentage of investments redeemable	74.00%		74.00%		83.00%
30 to 60 days prior written notice [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
Percentage of investments redeemable	15.00%		15.00%		17.00%
30 to 60 days prior written notice [Member] | 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			60 days

Fair Value Disclosures (Summary

Fair Value Disclosures (Summary Of Changes In Fair Value Of Financial Assets And Liabilities Classified As Level 3) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Assets:
Total gains (losses) (realized and unrealized)	$ 1,500	$ (5,200)	$ 17,100	$ (85,800)
Liabilities:
Total gains (losses) (realized and unrealized)	6,000	5,400	1,500	(2,800)
Transfer of investment from trading assets to loans to and investments in associated companies		334,500		334,500
Corporate Equity Securities [Member]
Liabilities:
Beginning Balance	354	0	313	38
Total gains (losses) (realized and unrealized)	107	0	134	0
Purchases	(369)	0	(355)	0
Sales	27	0	27	0
Settlements	0	0	0	0
Issuances	0	0	0	0
Net transfers into (out of) Level 3	0	38	0	0
Ending Balance	119	38	119	38
Fair value, Liabilities, change in unrealized gains/(losses) relating to instruments still held	(92)	0	(92)	0
Corporate Debt Securities [Member]
Liabilities:
Beginning Balance	522	0	523	0
Total gains (losses) (realized and unrealized)	0	(27)	(1)	(27)
Purchases	0	0	0	0
Sales	0	550	0	550
Settlements	0	0	0	0
Issuances	0	0	0	0
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	522	523	522	523
Fair value, Liabilities, change in unrealized gains/(losses) relating to instruments still held	0	0	1	0
Commercial Mortgage-Backed Securities [Member]
Liabilities:
Beginning Balance	70		0
Total gains (losses) (realized and unrealized)	(35)		35
Purchases	0		0
Sales	0		0
Settlements	0		0
Issuances	0		0
Net transfers into (out of) Level 3	0		0
Ending Balance	35		35
Fair value, Liabilities, change in unrealized gains/(losses) relating to instruments still held	(35)		(35)
Net Derivatives [Member]
Liabilities:
Beginning Balance	3,022	4,424	3,441	(242)
Total gains (losses) (realized and unrealized)	(2,980)	(4,736)	(2,854)	3,104
Purchases	0	0	0	0
Sales	0	11,101	0	11,101
Settlements	5,040	32	5,162	(14)
Issuances	0	601	404	1,606
Net transfers into (out of) Level 3	0	(375)	(1,071)	(4,508)
Ending Balance	5,082	11,047	5,082	11,047
Fair value, Liabilities, change in unrealized gains/(losses) relating to instruments still held	(2,474)	(1,589)	(2,333)	(5,745)
Loans [Member]
Liabilities:
Beginning Balance	4,967	1,896	378	10,469
Total gains (losses) (realized and unrealized)	(3,071)	(402)	1,604	7
Purchases	0	0	(364)	0
Sales	333	170	333	681
Settlements	0	0	0	(213)
Issuances	0	0	0	0
Net transfers into (out of) Level 3	1,056	(816)	1,334	(10,096)
Ending Balance	3,285	848	3,285	848
Fair value, Liabilities, change in unrealized gains/(losses) relating to instruments still held	3,018	(400)	(1,583)	45
Other Secured Financings [Member]
Liabilities:
Beginning Balance		468	418	544
Total gains (losses) (realized and unrealized)		(200)	(418)	(276)
Purchases		0	0	0
Sales		0	0	0
Settlements		0	0	0
Issuances		0	0	0
Net transfers into (out of) Level 3		0	0	0
Ending Balance	0	268	0	268
Fair value, Liabilities, change in unrealized gains/(losses) relating to instruments still held		200	0	276
Corporate Equity Securities [Member]
Assets:
Beginning Balance	20,548	48,816	21,739	40,906
Total gains (losses) (realized and unrealized)	4,344	(6,492)	3,416	(8,388)
Purchases	4	291	945	5,225
Sales	(645)	(49)	(1,502)	(49)
Settlements	(55)	0	(356)	0
Net transfers into (out of) Level 3	(2,022)	(20,371)	(2,068)	(15,499)
Ending Balance	22,174	22,195	22,174	22,195
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	4,319	(892)	2,689	(727)
Corporate Debt Securities [Member]
Assets:
Beginning Balance	24,727	24,113	25,005	25,876
Total gains (losses) (realized and unrealized)	(2,350)	(145)	(3,280)	5,239
Purchases	5,901	10,696	19,610	29,629
Sales	(5,551)	(5,046)	(18,364)	(20,331)
Settlements	(31)	0	(1,724)	0
Net transfers into (out of) Level 3	2,319	5,389	3,768	(5,406)
Ending Balance	25,015	35,007	25,015	35,007
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	(2,224)	405	(3,424)	1,456
CDOs and CLOs [Member]
Assets:
Beginning Balance	48,208	52,710	54,354	85,092
Total gains (losses) (realized and unrealized)	(15,205)	(4,067)	(21,595)	(24,356)
Purchases	52,918	4,205	65,523	61,707
Sales	(36,564)	(5,203)	(62,441)	(69,397)
Settlements	245	0	239	(605)
Net transfers into (out of) Level 3	468	(3,575)	13,990	(8,371)
Ending Balance	50,070	44,070	50,070	44,070
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	(12,638)	(4,606)	(21,998)	(13,196)
Municipal securities [Member]
Assets:
Beginning Balance		0	27,257	0
Total gains (losses) (realized and unrealized)		(7,074)	(1,547)	(1,462)
Purchases		0	0	0
Sales		0	(25,710)	0
Settlements		0	0	0
Net transfers into (out of) Level 3		34,331	0	28,719
Ending Balance	0	27,257	0	27,257
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held		(7,074)	0	(1,462)
Sovereign Obligations [Member]
Assets:
Beginning Balance		120		120
Total gains (losses) (realized and unrealized)		5		5
Purchases		0		0
Sales		(125)		(125)
Settlements		0		0
Net transfers into (out of) Level 3		0		0
Ending Balance		0		0
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held		0		0
Residential Mortgage-Backed Securities [Member]
Assets:
Beginning Balance	33,032	63,308	38,772	70,263
Total gains (losses) (realized and unrealized)	(263)	(2,343)	(1,446)	(7,243)
Purchases	494	1,884	113,391	1,948
Sales	(732)	(10,874)	(125,731)	(13,203)
Settlements	(291)	(463)	(572)	(1,078)
Net transfers into (out of) Level 3	(11,591)	(4,631)	(3,765)	(3,806)
Ending Balance	20,649	46,881	20,649	46,881
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	188	(183)	(2,005)	228
Commercial Mortgage-Backed Securities [Member]
Assets:
Beginning Balance	16,263	24,983	20,580	14,326
Total gains (losses) (realized and unrealized)	(125)	(1,531)	(1,180)	(4,606)
Purchases	0	0	2,033	1,256
Sales	(676)	0	(5,199)	(2,023)
Settlements	(637)	0	(985)	0
Net transfers into (out of) Level 3	2,811	1,141	2,387	15,640
Ending Balance	17,636	24,593	17,636	24,593
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	(161)	(236)	(952)	(3,337)
Other Asset-Backed Securities [Member]
Assets:
Beginning Balance	43,349	43,033	40,911	42,925
Total gains (losses) (realized and unrealized)	(6,454)	(2,247)	(15,338)	(2,420)
Purchases	5,798	3,416	67,611	66,503
Sales	(3,789)	(2,727)	(4,121)	(60,525)
Settlements	(2,924)	(1,429)	(16,891)	(6,678)
Net transfers into (out of) Level 3	32,966	21,066	(3,226)	21,307
Ending Balance	68,946	61,112	68,946	61,112
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	(3,570)	(2,202)	(8,872)	(9,993)
Loans and other receivables [Member]
Assets:
Beginning Balance	49,365	104,399	81,872	189,289
Total gains (losses) (realized and unrealized)	15,261	(23,445)	27,709	(30,843)
Purchases	9,265	31,512	84,342	305,920
Sales	(5,854)	(10,140)	(83,791)	(206,587)
Settlements	(8,249)	(16,804)	(23,241)	(163,913)
Net transfers into (out of) Level 3	2,868	(7,065)	(24,235)	(15,409)
Ending Balance	62,656	78,457	62,656	78,457
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	14,005	(16,044)	16,294	(27,714)
Investments at Fair Value [Member]
Assets:
Beginning Balance	315,297	273,271	314,359	199,794
Total gains (losses) (realized and unrealized)	3,964	(599)	12,760	46,644
Purchases	10,000	0	12,800	29,727
Sales	0	(485)	(10,119)	(485)
Settlements	(292)	(278)	(831)	(834)
Net transfers into (out of) Level 3	0	29,000	0	26,063
Ending Balance	328,969	300,909	328,969	300,909
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	3,964	(746)	14,783	53,711
FXCM term loan [Member]
Assets:
Beginning Balance	129,050		164,500
Total gains (losses) (realized and unrealized)	2,330		17,638
Purchases	0		0
Sales	0		0
Settlements	(60,580)		(111,338)
Net transfers into (out of) Level 3	0		0
Ending Balance	70,800		70,800
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held	$ (2,401)		$ (930)
Investment in FXCM [Member]
Assets:
Beginning Balance		508,400		625,689
Total gains (losses) (realized and unrealized)		42,721		(58,335)
Purchases		0		0
Sales		0		0
Settlements		(343,721)		(359,954)
Net transfers into (out of) Level 3		0		0
Ending Balance		207,400		207,400
Fair value, Assets, change in unrealized gains/(losses) relating to instruments still held		$ (2,000)		$ 3,852

Fair Value Disclosures (Analysi

Fair Value Disclosures (Analysis of Level 3 Assets and Liabilities Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3	$ 63,500	$ 147,000	$ 30,900	$ 157,800
Transfers of assets from Level 3 to Level 2	35,700	91,800	44,000	114,500
Transfers of liabilities from Level 3 to Level 2				10,200
Net gains (losses) on Level 3 assets (realized and unrealized)	1,500	(5,200)	17,100	(85,800)
Net gains (losses) on Level 3 liabilities (realized and unrealized)	6,000	5,400	1,500	(2,800)
Excluded assets from unobservable quantitative information	242,900		242,900		$ 325,000
Excluded liabilities from unobservable quantitative information	4,000		4,000		$ 1,600
Commercial Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3				17,200
Net gains (losses) on Level 3 assets (realized and unrealized)	(125)	(1,531)	(1,180)	(4,606)
Other Asset-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3	46,400	27,300		38,500
Transfers of assets from Level 3 to Level 2	13,500			17,000
Net gains (losses) on Level 3 assets (realized and unrealized)	(6,454)	(2,247)	(15,338)	(2,420)
Residential Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3		13,700		21,700
Transfers of assets from Level 3 to Level 2	14,600	18,300		25,500
Net gains (losses) on Level 3 assets (realized and unrealized)	(263)	(2,343)	(1,446)	(7,243)
Municipal securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3		34,300		28,700
Net gains (losses) on Level 3 assets (realized and unrealized)		(7,074)	(1,547)	(1,462)
Loans and other receivables [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 3 to Level 2		15,800	28,300	19,800
Net gains (losses) on Level 3 assets (realized and unrealized)	15,261	(23,445)	27,709	(30,843)
Corporate Debt Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3			8,100
Net gains (losses) on Level 3 assets (realized and unrealized)	(2,350)	(145)	(3,280)	5,239
CDOs and CLOs [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3		23,700	14,000	16,900
Transfers of assets from Level 3 to Level 2		27,300		25,300
Net gains (losses) on Level 3 assets (realized and unrealized)	(15,205)	(4,067)	(21,595)	(24,356)
Corporate Equity Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 3 to Level 2		20,500		19,200
Net gains (losses) on Level 3 assets (realized and unrealized)	4,344	(6,492)	3,416	(8,388)
Investments at Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfers of assets from Level 2 to Level 3		29,000		26,100
Net gains (losses) on Level 3 assets (realized and unrealized)	3,964	(599)	12,760	46,644
Other Secured Financings [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Net gains (losses) on Level 3 liabilities (realized and unrealized)		(200)	(418)	(276)
Loans [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Net gains (losses) on Level 3 liabilities (realized and unrealized)	$ (3,071)	$ (402)	$ 1,604	$ 7

Fair Value Disclosures (Quantit

Fair Value Disclosures (Quantitative Information About Significant Unobservable Inputs Used In Level 3 Fair Value Measurements) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)$ / shares$ / Asset$ / Bond	Dec. 31, 2016USD ($)T / d$ / shares$ / Asset$ / Bond	Jun. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount rate	11.90%
Loans [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Trading Liabilities	$ 3,285,000	$ 378,000	$ 4,967,000	$ 848,000	$ 1,896,000	$ 10,469,000
Corporate Equity Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	22,174,000	21,739,000	20,548,000	22,195,000	48,816,000	40,906,000
Corporate Debt Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	25,015,000	25,005,000	24,727,000	35,007,000	24,113,000	25,876,000
CDOs and CLOs [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	50,070,000	54,354,000	48,208,000	44,070,000	52,710,000	85,092,000
Residential Mortgage-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	20,649,000	38,772,000	33,032,000	46,881,000	63,308,000	70,263,000
Commercial Mortgage-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	17,636,000	20,580,000	16,263,000	24,593,000	24,983,000	14,326,000
Other Asset-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	68,946,000	40,911,000	43,349,000	61,112,000	43,033,000	42,925,000
Loans and other receivables [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	62,656,000	81,872,000	49,365,000	78,457,000	104,399,000	189,289,000
Investments at Fair Value [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	328,969,000	314,359,000	315,297,000	$ 300,909,000	$ 273,271,000	$ 199,794,000
FXCM term loan [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	70,800,000	164,500,000	$ 129,050,000
Financial Instruments Owned [Member] | Corporate Equity Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	17,964,000	19,799,000
Financial Instruments Owned [Member] | Corporate Debt Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	25,015,000	25,005,000
Financial Instruments Owned [Member] | CDOs and CLOs [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	43,153,000	33,016,000
Financial Instruments Owned [Member] | Residential Mortgage-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	20,649,000	38,772,000
Financial Instruments Owned [Member] | Commercial Mortgage-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	17,636,000	20,580,000
Financial Instruments Owned [Member] | Other Asset-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	68,946,000	40,911,000
Financial Instruments Owned [Member] | Loans and other receivables [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	59,398,000	54,347,000
Financial Instruments Owned [Member] | FXCM term loan [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	70,800,000	164,500,000
Derivative [Member] | Financial Instruments Owned [Member] | Derivatives, Assets [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	2,671,000	6,429,000
Derivative [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Trading Liabilities	7,753,000	9,870,000
Private Equity Securities [Member] | Financial Instruments Owned [Member] | Investments at Fair Value [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Financial Instruments Owned	$ 100,446,000	67,383,000
Level 3 [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Corporate Debt Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Price | $ / Bond	15
Transaction level		$ 30
Estimated recovery percentage	17.00%
Level 3 [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Other Asset-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Price | $ / Bond	100	72
Level 3 [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
EBITDA multiple	1.6	3.3
Transaction level		$ 0.42
Level 3 [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Price | $ / Bond	60
Discount rate/yield		2.00%
Level 3 [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Price | $ / Bond	100
Discount rate/yield		4.00%
Level 3 [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Price | $ / Bond	95
Discount rate/yield		3.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	6.00%	28.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	45.00%	38.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	29.00%	31.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | Other Asset-Backed Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	23.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	10.00%	6.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	107.00%	50.00%
Level 3 [Member] | Scenario Analysis [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Estimated recovery percentage	67.00%	37.00%
Level 3 [Member] | Convertible Bond Model [Member] | Financial Instruments Owned [Member] | Corporate Debt Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Volatility	40.00%	40.00%
Discount rate/yield	8.00%	9.00%
Level 3 [Member] | Present Value [Member] | Financial Instruments Owned [Member] | Loans and other receivables [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Average silver production (tons per day) | T / d		666
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate	20.00%
Constant default rate	2.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		10.00%
Discount rate/yield	9.00%
Constant default rate		2.00%
Loss severity	25.00%	25.00%
Yield		7.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		20.00%
Discount rate/yield	23.00%
Constant default rate		4.00%
Loss severity	30.00%	70.00%
Yield		17.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | CDOs and CLOs [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		19.00%
Discount rate/yield	12.00%
Constant default rate		2.00%
Loss severity	27.00%	40.00%
Yield		12.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Residential Mortgage-Backed Securities [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		0.00%
Discount rate/yield	8.00%
Constant default rate		1.00%
Cumulative loss rate	5.00%
Duration (years)	3 years
Loss severity		35.00%
Yield		2.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Residential Mortgage-Backed Securities [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		11.00%
Discount rate/yield	10.00%
Constant default rate		7.00%
Cumulative loss rate	30.00%
Duration (years)	10 years
Loss severity		100.00%
Yield		10.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Residential Mortgage-Backed Securities [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		5.00%
Discount rate/yield	9.00%
Constant default rate		3.00%
Cumulative loss rate	13.00%
Duration (years)	5 years
Loss severity		62.00%
Yield		6.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Commercial Mortgage-Backed Securities [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount rate/yield	2.00%
Cumulative loss rate	0.00%	5.00%
Duration (years)	1 year
Yield		6.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Commercial Mortgage-Backed Securities [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount rate/yield	21.00%
Cumulative loss rate	58.00%	95.00%
Duration (years)	3 years
Yield		11.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Commercial Mortgage-Backed Securities [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount rate/yield	11.00%
Cumulative loss rate	29.00%	39.00%
Duration (years)	2 years
Yield		8.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Other Asset-Backed Securities [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		4.00%
Discount rate/yield	4.00%
Constant default rate		0.00%
Cumulative loss rate	0.00%
Duration (years)	1 year
Loss severity		0.00%
Yield		4.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Other Asset-Backed Securities [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		20.00%
Discount rate/yield	12.00%
Constant default rate		31.00%
Cumulative loss rate	25.00%
Duration (years)	10 years
Loss severity		100.00%
Yield		17.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | Other Asset-Backed Securities [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate		14.00%
Discount rate/yield	8.00%
Constant default rate		13.00%
Cumulative loss rate	20.00%
Duration (years)	2 years
Loss severity		90.00%
Yield		15.00%
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | FXCM term loan [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Term based on the pay off	0 months	0 months
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | FXCM term loan [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Term based on the pay off	4 months	6 months
Level 3 [Member] | Discounted Cash Flows [Member] | Financial Instruments Owned [Member] | FXCM term loan [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Term based on the pay off	3 months 4 days	4 months 24 days
Level 3 [Member] | Derivative [Member] | Equity Option [Member] | Option Model [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Volatility		45.00%
Level 3 [Member] | Derivative [Member] | Equity Option [Member] | Default Rate [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Default probability		0.00%
Level 3 [Member] | Derivative [Member] | Equity Option [Member] | Option Model/Default Rate [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Default probability	0.00%
Level 3 [Member] | Derivative [Member] | Equity Swap [Member] | Comparable Pricing [Member] | Financial Instruments Owned [Member] | Derivatives, Assets [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Comparable asset price | $ / Asset		102
Level 3 [Member] | Derivative [Member] | Equity Swap [Member] | Comparable Pricing [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Comparable asset price | $ / Asset		102
Level 3 [Member] | Derivative [Member] | Unfunded Commitments [Member] | Market Approach [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount rate/yield		4.00%
Level 3 [Member] | Derivative [Member] | Credit Default Swap [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Derivatives, Assets [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Credit spread		2.65%
Level 3 [Member] | Derivative [Member] | Variable Funding Note Swaps [Member] | Discounted Cash Flows [Member] | Securities Sold, Not yet Purchased [Member] | Derivatives, Liabilities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Constant prepayment rate	20.00%	20.00%
Discount rate/yield	23.00%
Constant default rate	2.00%	2.00%
Loss severity	25.00%	25.00%
Yield		16.00%
Level 3 [Member] | Derivative [Member] | Interest Rate Swap [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Derivatives, Assets [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Credit spread	8.00%
Level 3 [Member] | Non Exchange Traded Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Corporate Equity Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	$ 6
Level 3 [Member] | Non Exchange Traded Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Corporate Equity Securities [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	3	$ 3
Level 3 [Member] | Non Exchange Traded Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Corporate Equity Securities [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	75	75
Level 3 [Member] | Non Exchange Traded Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Corporate Equity Securities [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	$ 59	15
Level 3 [Member] | Non Exchange Traded Securities [Member] | Comparable Pricing [Member] | Financial Instruments Owned [Member] | Corporate Equity Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares		$ 218
Comparable asset price | $ / Asset	9	11
Level 3 [Member] | Non Exchange Traded Securities [Member] | Present Value [Member] | Financial Instruments Owned [Member] | Corporate Equity Securities [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Average silver production (tons per day) | T / d		666
Level 3 [Member] | Private Equity Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Investments at Fair Value [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares		$ 25,815,720
Transaction level	$ 3	$ 250
Discount rate	20.00%
Level 3 [Member] | Private Equity Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Investments at Fair Value [Member] | Minimum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	$ 7
Discount rate		15.00%
Level 3 [Member] | Private Equity Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Investments at Fair Value [Member] | Maximum [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	250
Discount rate		30.00%
Level 3 [Member] | Private Equity Securities [Member] | Market Approach [Member] | Financial Instruments Owned [Member] | Investments at Fair Value [Member] | Weighted Average [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Underlying stock price | $ / shares	$ 123
Discount rate		23.00%

Fair Value Disclosures (Summa65

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 ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financial Instruments [Line Items]
Loans and other receivables	$ 24,846	$ (24,874)	$ 27,715	$ (48,658)
Financial Instruments Sold [Member]
Financial Instruments [Line Items]
Loans	3,436	212	(7,286)	229
Loan commitments	82	4,769	229	2,196
Long-term Debt [Member]
Financial Instruments [Line Items]
Loan commitments	5,638	(4,093)	(14,141)	(7,848)
Other changes in fair value	(1,854)	4,474	2,786	15,225
Short-term Borrowings [Member]
Financial Instruments [Line Items]
Loan commitments	19	0	1	0
Other changes in fair value	$ (2,570)	$ 0	$ (37)	$ 0

Fair Value Disclosures (Summa66

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 ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Loans and other receivables	$ 663,618	$ 1,325,938
Loans and other receivables on nonaccrual status	159,000	205,746
Long-term Debt	9,725	20,202
Loans and other receivables greater than 90 days past due	$ 48,300	$ 64,600

Fair Value Disclosures (Fair Va

Fair Value Disclosures (Fair Value Option Election Narrative) (Details) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)directorshares	Jun. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Apr. 30, 2017$ / shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Aggregate fair value of loans and other receivables on nonaccrual status	$ 62,600		$ 62,600					$ 29,800
90 days or more past due	41,900		41,900					18,900
Securities borrowed	7,758,532		7,758,532					7,743,562
Securities loaned	2,763,253		2,763,253					2,819,132
Investment in associated company	2,350,980	$ 2,105,088	2,350,980		$ 2,105,088			2,125,098	$ 1,757,369
Financial instruments owned trading assets, at fair value	15,505,065		15,505,065					14,985,237
KCG Holdings [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Changes in fair value of investments reflected as principal transactions	2,200	6,100	93,400		24,600
Securities borrowed								9,200
Securities loaned								$ 9,200
Business acquisition, share price (in USD per share) | $ / shares							$ 20
HRG [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Changes in fair value of investments reflected as principal transactions	$ (97,900)	$ 91,800	$ 2,300		$ 99,700
Percentage of outstanding common stock owned	23.00%		23.00%					23.00%
Shares owned, number | shares	46.6		46.6					46.6
Financial instruments owned trading assets, at fair value	$ 727,400		$ 727,400					$ 725,100
Cash consideration paid for shares	$ 475,600		$ 475,600
Revenue of investee				$ 3,686,700		$ 3,798,800
Net income from continuing operations of investee				53,800		152,500
Net income (loss) of investee				249,200		(70,100)
Net income (loss) attributable to HRG				$ 132,200		$ (191,500)
Number of directors appointed | director			2

Derivative Financial Instrume68

Derivative Financial Instruments (Fair Value And Related Number Of Derivative Contracts Categorized By Predominant Risk Exposure) (Details) $ in Thousands	Sep. 30, 2017USD ($)Contract	Dec. 31, 2016USD ($)Contract
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 2,784,013	$ 4,627,076
Fair Value, Liabilities	3,290,194	4,880,022
Counterparty/cash-collateral netting, Assets	(2,595,355)	(4,255,998)
Counterparty/cash-collateral netting, Liabilities	(2,714,115)	(4,229,213)
Net Amounts in Consolidated Statements of Financial Condition	188,658	371,078
Net Amounts in Consolidated Statements of Financial Condition	576,079	650,809
Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 11,654
Number of Contracts, Assets | Contract	1
Fair Value, Liabilities	$ 0
Number of Contracts, Liabilities | Contract	0
Not Designated as Accounting Hedges [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 2,772,359	4,627,076
Fair Value, Liabilities	3,290,194	4,880,022
Counterparty/cash-collateral netting, Assets	(2,595,355)	(4,255,998)
Counterparty/cash-collateral netting, Liabilities	(2,714,115)	(4,229,213)
Net Amounts in Consolidated Statements of Financial Condition	177,004	371,078
Net Amounts in Consolidated Statements of Financial Condition	576,079	650,809
Not Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 1,777,254	$ 3,282,245
Number of Contracts, Assets | Contract	17,997	29,032
Fair Value, Liabilities	$ 1,698,297	$ 3,159,457
Number of Contracts, Liabilities | Contract	42,934	34,845
Not Designated as Accounting Hedges [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 370,203	$ 529,669
Number of Contracts, Assets | Contract	5,690	7,826
Fair Value, Liabilities	$ 369,971	$ 516,869
Number of Contracts, Liabilities | Contract	6,733	8,319
Not Designated as Accounting Hedges [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 549,030	$ 786,987
Number of Contracts, Assets | Contract	2,199,786	2,843,329
Fair Value, Liabilities	$ 1,127,705	$ 1,169,201
Number of Contracts, Liabilities | Contract	1,849,003	2,414,715
Not Designated as Accounting Hedges [Member] | Commodity Contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 5	$ 1,906
Number of Contracts, Assets | Contract	3,673	2,766
Fair Value, Liabilities	$ 3,543	$ 6,430
Number of Contracts, Liabilities | Contract	8,727	7,289
Not Designated as Accounting Hedges [Member] | Credit Contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value, Assets	$ 75,867	$ 26,269
Number of Contracts, Assets | Contract	303	311
Fair Value, Liabilities	$ 90,678	$ 28,065
Number of Contracts, Liabilities | Contract	389	20,084

Derivative Financial Instrume69

Derivative Financial Instruments (Unrealized And Realized Gains (Losses) On Derivative Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Interest expense on fair value hedge	$ 1,537	$ 0	$ 4,390	$ 0
Unrealized and realized gains (losses)	(161,508)	(201,124)	(287,775)	(595,085)
Interest Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized and realized gains (losses)	(7,485)	(27,354)	2,555	(101,744)
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized and realized gains (losses)	481	11,089	3,341	15,992
Equity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized and realized gains (losses)	(142,931)	(184,020)	(294,635)	(505,872)
Commodity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized and realized gains (losses)	(3,626)	2,777	(5,169)	351
Credit Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized and realized gains (losses)	(7,947)	(3,616)	6,133	(3,812)
Interest rate swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Interest expense on fair value hedge	6,217	0	13,960	0
Long-term Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Interest expense on fair value hedge	$ (4,680)	$ 0	$ (9,570)	$ 0

Derivative Financial Instrume70

Derivative Financial Instruments (Remaining Contract Maturity Of Fair Value Of OTC Derivative Assets And Liabilities) (Details) $ in Thousands	Sep. 30, 2017USD ($)
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	$ 162,303
OTC derivative assets having maturity period of 1 to 5 years	213,399
OTC derivative assets having maturity period of greater than 5 years	106,140
OTC derivative assets cross-maturity netting	(86,459)
Total OTC derivative assets, net of cross-maturity netting	395,383
Cross product counterparty netting	(70,712)
Total OTC derivative assets included in Trading assets	324,671
OTC derivative liabilities having maturity period of 0 to 12 months	142,857
OTC derivative liabilities having maturity period of 1 to 5 years	300,083
OTC derivative liabilities having maturity period of greater than 5 years	105,197
OTC derivative liabilities cross-maturity netting	(86,459)
Total OTC derivative liabilities, net of cross-maturity netting	461,678
Cross product counterparty netting	(70,712)
Total OTC derivative liabilities included in Trading liabilities	390,966
Exchange traded derivative assets and other credit agreements	21,300
Cash collateral received	157,300
Exchange traded derivative liabilities and other credit agreements	461,200
Cash collateral pledged	276,000
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	0
OTC derivative assets having maturity period of 1 to 5 years	5
OTC derivative assets having maturity period of greater than 5 years	0
OTC derivative assets cross-maturity netting	0
Total OTC derivative assets, net of cross-maturity netting	5
OTC derivative liabilities having maturity period of 0 to 12 months	1,072
OTC derivative liabilities having maturity period of 1 to 5 years	0
OTC derivative liabilities having maturity period of greater than 5 years	0
OTC derivative liabilities cross-maturity netting	0
Total OTC derivative liabilities, net of cross-maturity netting	1,072
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	5,117
OTC derivative assets having maturity period of 1 to 5 years	3,204
OTC derivative assets having maturity period of greater than 5 years	0
OTC derivative assets cross-maturity netting	0
Total OTC derivative assets, net of cross-maturity netting	8,321
OTC derivative liabilities having maturity period of 0 to 12 months	2,980
OTC derivative liabilities having maturity period of 1 to 5 years	146,505
OTC derivative liabilities having maturity period of greater than 5 years	2,631
OTC derivative liabilities cross-maturity netting	0
Total OTC derivative liabilities, net of cross-maturity netting	152,116
Credit Default Swap [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	289
OTC derivative assets having maturity period of 1 to 5 years	3,399
OTC derivative assets having maturity period of greater than 5 years	7,421
OTC derivative assets cross-maturity netting	(26)
Total OTC derivative assets, net of cross-maturity netting	11,083
OTC derivative liabilities having maturity period of 0 to 12 months	1,077
OTC derivative liabilities having maturity period of 1 to 5 years	23,931
OTC derivative liabilities having maturity period of greater than 5 years	0
OTC derivative liabilities cross-maturity netting	(26)
Total OTC derivative liabilities, net of cross-maturity netting	24,982
Total Return Swap [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	11,411
OTC derivative assets having maturity period of 1 to 5 years	5,823
OTC derivative assets having maturity period of greater than 5 years	0
OTC derivative assets cross-maturity netting	(2,458)
Total OTC derivative assets, net of cross-maturity netting	14,776
OTC derivative liabilities having maturity period of 0 to 12 months	11,666
OTC derivative liabilities having maturity period of 1 to 5 years	1,802
OTC derivative liabilities having maturity period of greater than 5 years	0
OTC derivative liabilities cross-maturity netting	(2,458)
Total OTC derivative liabilities, net of cross-maturity netting	11,010
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	95,638
OTC derivative assets having maturity period of 1 to 5 years	29,277
OTC derivative assets having maturity period of greater than 5 years	0
OTC derivative assets cross-maturity netting	(14)
Total OTC derivative assets, net of cross-maturity netting	124,901
OTC derivative liabilities having maturity period of 0 to 12 months	94,182
OTC derivative liabilities having maturity period of 1 to 5 years	30,561
OTC derivative liabilities having maturity period of greater than 5 years	0
OTC derivative liabilities cross-maturity netting	(14)
Total OTC derivative liabilities, net of cross-maturity netting	124,729
Fixed Income 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	134
OTC derivative assets having maturity period of 1 to 5 years	0
OTC derivative assets having maturity period of greater than 5 years	0
OTC derivative assets cross-maturity netting	0
Total OTC derivative assets, net of cross-maturity netting	134
OTC derivative liabilities having maturity period of 0 to 12 months	1,145
OTC derivative liabilities having maturity period of 1 to 5 years	0
OTC derivative liabilities having maturity period of greater than 5 years	0
OTC derivative liabilities cross-maturity netting	0
Total OTC derivative liabilities, net of cross-maturity netting	1,145
Interest Rate Swap [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	49,714
OTC derivative assets having maturity period of 1 to 5 years	171,691
OTC derivative assets having maturity period of greater than 5 years	98,719
OTC derivative assets cross-maturity netting	(83,961)
Total OTC derivative assets, net of cross-maturity netting	236,163
OTC derivative liabilities having maturity period of 0 to 12 months	30,735
OTC derivative liabilities having maturity period of 1 to 5 years	97,284
OTC derivative liabilities having maturity period of greater than 5 years	102,566
OTC derivative liabilities cross-maturity netting	(83,961)
Total OTC derivative liabilities, net of cross-maturity netting	$ 146,624

Derivative Financial Instrume71

Derivative Financial Instruments (Counterparty Credit Quality With Respect To Fair Value Of OTC Derivatives Assets) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
A- or higher	$ 143,935
BBB- to BBB	50,742
BB or lower	72,249
Unrated	57,745
Total OTC derivative assets included in Trading assets	$ 324,671

Derivative Financial Instrume72

Derivative Financial Instruments (Credit Related Derivative Contracts) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Index credit default swaps [Member]
Derivative [Line Items]
Notional amount	$ 1,441	$ 146
Single name credit default swaps [Member]
Derivative [Line Items]
Notional amount	331	383
Investment Grade [Member] | Index credit default swaps [Member]
Derivative [Line Items]
Notional amount	1,103	54
Investment Grade [Member] | Single name credit default swaps [Member]
Derivative [Line Items]
Notional amount	139	122
Non-investment grade [Member] | Index credit default swaps [Member]
Derivative [Line Items]
Notional amount	338	92
Non-investment grade [Member] | Single name credit default swaps [Member]
Derivative [Line Items]
Notional amount	$ 192	$ 261

Derivative Financial Instrume73

Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments in a liability position	$ 65.2	$ 70.6
Collateral posted for derivative instruments in a liability position	51.4	44.4
Potential additional collateral required for derivative instruments in a liability position	$ 12.6	$ 26.1

Collateralized Transactions (Co

Collateralized Transactions (Collateral Pledged) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	$ 2,763,253	$ 2,819,132
Repurchase agreements	19,839,207	17,012,332
Total	22,602,460	19,831,464
Corporate equity securities [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	2,183,030	2,046,243
Repurchase agreements	100,178	66,291
Total	2,283,208	2,112,534
Corporate Debt Securities [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	579,925	731,276
Repurchase agreements	2,154,639	1,907,888
Total	2,734,564	2,639,164
Mortgage- and asset-backed securities [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	0	0
Repurchase agreements	3,046,491	2,171,480
Total	3,046,491	2,171,480
U.S. government and federal agency securities [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	298	41,613
Repurchase agreements	12,046,271	9,232,624
Total	12,046,569	9,274,237
Municipal securities [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	0	0
Repurchase agreements	389,752	553,010
Total	389,752	553,010
Sovereign obligations [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	0	0
Repurchase agreements	1,577,231	2,625,079
Total	1,577,231	2,625,079
Loans and other receivables [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	0	0
Repurchase agreements	524,645	455,960
Total	$ 524,645	$ 455,960

Collateralized Transactions (75

Collateralized Transactions (Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	$ 2,763,253	$ 2,819,132
Repurchase agreements	19,839,207	17,012,332
Total	22,602,460	19,831,464
Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	1,490,137	2,131,891
Repurchase agreements	12,556,923	9,147,176
Total	14,047,060	11,279,067
Up to 30 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	0	39,673
Repurchase agreements	3,187,276	2,008,119
Total	3,187,276	2,047,792
30 to 90 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	783,633	104,516
Repurchase agreements	3,051,449	3,809,533
Total	3,835,082	3,914,049
Greater than 90 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending arrangements	489,483	543,052
Repurchase agreements	1,043,559	2,047,504
Total	$ 1,533,042	$ 2,590,556

Collateralized Transactions (Na

Collateralized Transactions (Narrative) (Details) - USD ($) $ in Billions	Sep. 30, 2017	Dec. 31, 2016
Collateralized Transactions [Abstract]
Fair value of securities received as collateral that may be sold or repledged	$ 27.2	$ 25.5

Securitization Activities (Acti

Securitization Activities (Activity Related To Securitizations Accounted For As Sales) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Securitization Activities [Abstract]
Transferred assets	$ 1,009.1	$ 1,390.7	$ 2,677.7	$ 4,523.5
Proceeds on new securitizations	1,017.2	1,394	2,703.3	4,541.3
Cash flows received on retained interests	$ 8.7	$ 6.3	$ 22.7	$ 24.9

Securitization Activities (Summ

Securitization Activities (Summary Of Retained Interests In SPEs) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Residential Mortgage-Backed Securities [Member]
Securitization Activities [Line Items]
U.S. government agency residential mortgage-backed securities	$ 5,584.5	$ 7,584.9
Retained Interests	13.9	31
Commercial Mortgage-Backed Securities [Member]
Securitization Activities [Line Items]
U.S. government agency commercial mortgage-backed securities	2,103.7	1,806.3
Retained Interests	46.9	29.6
CLOs [Member]
Securitization Activities [Line Items]
CLOs	2,936.1	4,102.2
Retained Interests	19.6	37
Consumer and Other Loans [Member]
Securitization Activities [Line Items]
Retained Interests	57	25.3
Consumer and Other Loans Securitization Assets	$ 301.4	$ 395.7

Securitization Activities (Narr

Securitization Activities (Narrative) (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Securitization Activities [Abstract]
Carrying Value Of Assets Resulting From Transfers	$ 11,000,000	$ 0
Carrying Value Of Liabilities Resulting From Transfers	$ 11,000,000	$ 0

Available for Sale Securities80

Available for Sale Securities (Amortized Cost, Gross Unrealized Gains and Losses and Estimated Fair Value of Available for Sale Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Amortized Cost	$ 479,798	$ 274,457
Gross Unrealized Gains	40,833	26,712
Gross Unrealized Losses	134	120
Estimated Fair Value	520,497	301,049
U.S. Government Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	345,745	174,938
Gross Unrealized Gains	15	8
Gross Unrealized Losses	20	13
Estimated Fair Value	345,740	174,933
Residential Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	36,925	19,129
Gross Unrealized Gains	235	108
Gross Unrealized Losses	70	104
Estimated Fair Value	37,090	19,133
Commercial Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	10,892	8,275
Gross Unrealized Gains	38	64
Gross Unrealized Losses	22	2
Estimated Fair Value	10,908	8,337
Other Asset-Backed Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	33,150	18,918
Gross Unrealized Gains	97	124
Gross Unrealized Losses	22	0
Estimated Fair Value	33,225	19,042
All Other Corporates [Member]
Schedule of Investments [Line Items]
Amortized Cost	179	180
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	1
Estimated Fair Value	179	179
Debt Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	426,891	221,440
Gross Unrealized Gains	385	304
Gross Unrealized Losses	134	120
Estimated Fair Value	427,142	221,624
Common Stocks: Banks, Trusts And Insurance Companies [Member]
Schedule of Investments [Line Items]
Amortized Cost	35,071	35,071
Gross Unrealized Gains	18,428	15,115
Gross Unrealized Losses	0	0
Estimated Fair Value	53,499	50,186
Common Stocks: Industrial, Miscellaneous And All Other [Member]
Schedule of Investments [Line Items]
Amortized Cost	17,836	17,946
Gross Unrealized Gains	22,020	11,293
Gross Unrealized Losses	0	0
Estimated Fair Value	39,856	29,239
Corporate Equity Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	52,907	53,017
Gross Unrealized Gains	40,448	26,408
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 93,355	$ 79,425

Available for Sale Securities81

Available for Sale Securities (Amortized Cost and Estimated Fair Value of Investments Classified as Available for Sale By Contractual Maturity) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Amortized Cost
Due within one year	$ 345,745
Due after one year through five years	179
Fixed maturities investments excluding mortgage-backed and asset-backed securities	345,924
Mortgage-backed and asset-backed securities	80,967
Amortized Cost	426,891
Estimated Fair Value
Due within one year	345,740
Due after one year through five years	179
Fixed maturities investments excluding mortgage-backed and asset-backed securities	345,919
Mortgage-backed and asset-backed securities	81,223
Total fixed maturities investments, Estimated Fair Value	$ 427,142

Variable Interest Entities (Ass

Variable Interest Entities (Assets And Liabilities Of Consolidated VIEs) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Cash		$ 5,016,932	$ 3,807,558	$ 3,278,975	$ 3,638,648
Financial instruments owned		16,025,562	15,286,286
Securities purchased under agreement to resell		3,371,435	3,862,488
Receivables		5,507,847	4,425,178
Loans to and investments in associated companies		2,350,980	2,125,098
Other		1,727,012	1,635,664
Total assets	[1]	47,666,944	45,071,307
Other secured financings		892,692	1,026,429
Long-term debt		8,092,642	7,380,443
Total liabilities	[1]	36,511,795	34,305,849
Noncontrolling interests		189,667	175,549
Jefferies [Member]
Variable Interest Entity [Line Items]
Secured financings eliminated in consolidation		49,200	57,600
Consolidation, Eliminations [Member]
Variable Interest Entity [Line Items]
Intercompany payables		36,400	20,000
Securitization Vehicles [Member]
Variable Interest Entity [Line Items]
Cash		8,200	18,400
Financial instruments owned		44,500	86,600
Securities purchased under agreement to resell		546,700	733,500
Receivables		353,000	277,700
Loans to and investments in associated companies		0	0
Other		19,900	14,500
Total assets		972,300	1,130,700
Other secured financings		930,800	1,083,800
Long-term debt		0	24,100
Other		41,600	22,300
Total liabilities		972,400	1,130,200
Noncontrolling interests		0	0
Real Estate Investment Vehicles [Member]
Variable Interest Entity [Line Items]
Cash		1,600	2,200
Financial instruments owned		0	0
Securities purchased under agreement to resell		0	0
Receivables		281,000	296,900
Loans to and investments in associated companies		113,500	108,700
Other		4,400	10,800
Total assets		400,500	418,600
Other secured financings		0	0
Long-term debt		217,200	243,900
Other		11,300	11,700
Total liabilities		228,500	255,600
Noncontrolling interests		$ 104,100	$ 98,700
[1]	Total assets include assets related to variable interest entities of $826.0 million and $815.8 million at September 30, 2017 and December 31, 2016, respectively, and Total liabilities include liabilities related to variable interest entities of $1,111.0 million and $1,284.7 million at September 30, 2017 and December 31, 2016, respectively. See Note 8 for additional information related to variable interest entities.

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Automobile loan receivables securitized	$ 186.5
Maximum exposure to loss	1,854.2	$ 1,410.8
Carrying Amount	507.5	566.9
Private Equity Vehicles [Member] | Energy Partners I, LP [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss		3
Real Estate Investment Vehicles [Member]
Variable Interest Entity [Line Items]
Equity commitments	98
Funded equity commitments	86.5
Maximum exposure to loss	99.7	101.8
Carrying Amount	88.3	90.3
Other Private Investment Vehicles [Member]
Variable Interest Entity [Line Items]
Carrying amount of equity investment	132.6	84
Unfunded equity commitment related to investments	10.1	11.8
Maximum exposure to loss	142.7	95.8
Carrying Amount	132.6	84
Agency Mortgage-Backed Securitizations [Member]
Variable Interest Entity [Line Items]
Carrying Amount	2,026.7	1,002.2
Nonagency Mortgage- And Asset-Backed Securitizations [Member]
Variable Interest Entity [Line Items]
Carrying Amount	272.4	439.4
JCP Entities [Member] | Private Equity Vehicles [Member]
Variable Interest Entity [Line Items]
Equity commitments	148.1	148.1
Funded equity commitments	126.3	125.1
Carrying amount of equity investment	$ 28.1	$ 37.6

Variable Interest Entities (Non

Variable Interest Entities (Non-Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount, Assets	$ 507.5	$ 566.9
Financial Statement Carrying Amount, Liabilities	1.9	4.8
Maximum Exposure to Loss	1,854.2	1,410.8
VIE Assets	10,858.4	10,229.3
CLOs [Member]
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount, Assets	62.7	264.7
Financial Statement Carrying Amount, Liabilities	1.9	4.8
Maximum Exposure to Loss	800.1	930
VIE Assets	3,540.8	4,472.9
Consumer Loan Vehicles [Member]
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount, Assets	195.8	90.3
Financial Statement Carrying Amount, Liabilities	0	0
Maximum Exposure to Loss	761.9	219.6
VIE Assets	2,287.2	985.5
Related Party Private Equity Vehicles [Member]
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount, Assets	28.1	37.6
Financial Statement Carrying Amount, Liabilities	0	0
Maximum Exposure to Loss	49.8	63.6
VIE Assets	106.3	155.6
Real Estate Investment Vehicles [Member]
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount, Assets	88.3	90.3
Financial Statement Carrying Amount, Liabilities	0	0
Maximum Exposure to Loss	99.7	101.8
VIE Assets	83.9	85.6
Other Private Investment Vehicles [Member]
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount, Assets	132.6	84
Financial Statement Carrying Amount, Liabilities	0	0
Maximum Exposure to Loss	142.7	95.8
VIE Assets	$ 4,840.2	$ 4,529.7

Loans to and Investments In A85

Loans to and Investments In Associated Companies (Schedule Of Loans to and Investments In Associated Companies) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			$ 2,125,098	$ 1,757,369
Income (losses) related to associated companies	$ 30,057	$ 36,503	(84,413)	108,445
Income (losses) related to Jefferies associated companies	10,828	15,390	65,323	(15,862)
Contributions to (distributions from) associated companies, net			203,849	(84,051)
Other, including foreign exchange and unrealized gains (losses)			41,123	339,187
Loans to and investments in associated companies, ending balance	2,350,980	2,105,088	2,350,980	2,105,088
Noncontrolling interests	189,667		189,667		$ 175,549
Jefferies Finance [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			490,464	528,575
Income (losses) related to associated companies			0	0
Income (losses) related to Jefferies associated companies	13,509	12,481	63,685	(26,000)
Contributions to (distributions from) associated companies, net			109,899	(19,300)
Other, including foreign exchange and unrealized gains (losses)			0	0
Loans to and investments in associated companies, ending balance	664,048	483,275	664,048	483,275
Jefferies LoanCore [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			154,731	288,741
Income (losses) related to associated companies			0	0
Income (losses) related to Jefferies associated companies	1,656	3,172	8,030	11,186
Contributions to (distributions from) associated companies, net			43,714	(133,635)
Other, including foreign exchange and unrealized gains (losses)			1,095	0
Loans to and investments in associated companies, ending balance	207,570	166,292	207,570	166,292
Berkadia [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			184,443	190,986
Income (losses) related to associated companies	34,839	26,004	67,979	59,456
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			(52,300)	(70,847)
Other, including foreign exchange and unrealized gains (losses)			(174)	291
Loans to and investments in associated companies, ending balance	199,948	179,886	199,948	179,886
FXCM [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			336,258	0
Income (losses) related to associated companies	(4,345)	0	(166,360)	0
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			0	0
Other, including foreign exchange and unrealized gains (losses)			731	334,500
Loans to and investments in associated companies, ending balance	170,629	334,500	170,629	334,500
Garcadia [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			185,815	172,660
Income (losses) related to associated companies	12,565	14,233	38,536	43,501
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			(40,955)	(22,562)
Other, including foreign exchange and unrealized gains (losses)			0	0
Loans to and investments in associated companies, ending balance	183,396	193,599	183,396	193,599
Linkem [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			154,000	150,149
Income (losses) related to associated companies	(9,533)	(5,836)	(26,557)	(20,709)
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			31,996	33,297
Other, including foreign exchange and unrealized gains (losses)			33,979	4,155
Loans to and investments in associated companies, ending balance	193,418	166,892	193,418	166,892
HomeFed Corporation [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			302,231	275,378
Income (losses) related to associated companies	238	800	9,922	23,146
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			31,918	0
Other, including foreign exchange and unrealized gains (losses)			0	0
Loans to and investments in associated companies, ending balance	344,071	298,524	344,071	298,524
Golden Queen Mining Company, LLC [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			111,302	114,323
Income (losses) related to associated companies	(1,975)	56	(3,684)	(1,608)
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			(59)	0
Other, including foreign exchange and unrealized gains (losses)			0	0
Loans to and investments in associated companies, ending balance	107,559	112,715	107,559	112,715
Noncontrolling interests	31,700		31,700		32,800
54 Madison [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			161,400	0
Income (losses) related to associated companies	(331)	906	(4,495)	3,389
Income (losses) related to Jefferies associated companies			0	0
Contributions to (distributions from) associated companies, net			21,159	123,731
Other, including foreign exchange and unrealized gains (losses)			0	3,642
Loans to and investments in associated companies, ending balance	178,064	130,762	178,064	130,762
Noncontrolling interests	105,000		105,000		$ 95,300
Other [Member]
Loans to and Investments in Associated Companies Rollforward [Roll Forward]
Loans to and investments in associated companies, beginning balance			44,454	36,557
Income (losses) related to associated companies	(1,401)	340	246	1,270
Income (losses) related to Jefferies associated companies	(4,337)	(263)	(6,392)	(1,048)
Contributions to (distributions from) associated companies, net			58,477	5,265
Other, including foreign exchange and unrealized gains (losses)			5,492	(3,401)
Loans to and investments in associated companies, ending balance	$ 102,277	$ 38,643	$ 102,277	$ 38,643

Loans to and Investments In A86

Loans to and Investments In Associated Companies (Jefferies Finance) (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Investments In Associated Companies [Line Items]
Investment banking		$ 475,702,000	$ 294,930,000	$ 1,235,586,000	$ 778,906,000
Other		1,727,012,000		1,727,012,000		$ 1,635,664,000
Payables, expense accruals and other liabilities		7,104,957,000		7,104,957,000		7,373,708,000
Jefferies [Member]
Investments In Associated Companies [Line Items]
Equity Commitment Contribute	$ 74,800,000
Investment banking		104,200,000	19,000,000	243,500,000	42,100,000
Origination fees				2,500,000	1,600,000
Placement Agent Fees		800,000	1,300,000	4,700,000	1,300,000
Jefferies Finance [Member]
Investments In Associated Companies [Line Items]
Equity commitment	750,000,000	750,000,000		750,000,000
Funded equity commitments		612,100,000		$ 612,100,000
Investment commitment extension				1 year
Termination notice				60 days
Increase of equity commitment	$ 150,000,000
Total line of credit facility commitment under joint venture		500,000,000		$ 500,000,000		500,000,000
Extension period				1 year
Line of credit facility, commitment of Jefferies, funded		35,100,000		$ 35,100,000		0
Line of credit facility commitment of Jefferies		250,000,000		250,000,000		250,000,000
Service fee income		7,900,000	$ 7,200,000	37,400,000	$ 35,800,000
Other		$ 22,500,000		$ 22,500,000
Payables, expense accruals and other liabilities						$ 5,800,000

Loans to and Investments In A87

Loans to and Investments In Associated Companies (Jefferies LoanCore) (Narrative) (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Investments In Associated Companies [Line Items]
Securities purchased under agreements to resell				$ 3,371,435	$ 3,862,488
Payables to brokers, dealers and clearing organizations				2,668,900	3,290,400
Jefferies LoanCore [Member]
Investments In Associated Companies [Line Items]
Aggregate equity commitment				400,000	400,000
Funded equity commitments				130,600	70,100
Equity commitment				$ 194,000	$ 194,000
Percentage of voting interest				48.50%	48.50%
Securities purchased under agreements to resell					$ 68,100
Jefferies [Member]
Investments In Associated Companies [Line Items]
Interest income and fees related to master repurchase agreement		$ 1,800	$ 6,900
Payables to brokers, dealers and clearing organizations				$ 5,000	$ 8,300
Jefferies LoanCore [Member] | Subsequent Event [Member] | Disposed of by Sale [Member] | Jefferies [Member]
Investments In Associated Companies [Line Items]
Consideration for sale of business	$ 170,000
Period entitled to additional cash consideration	5 years

Loans to and Investments In A88

Loans to and Investments In Associated Companies (Berkadia) (Narrative) (Details) - Berkadia [Member] - USD ($) $ in Millions	12 Months Ended	105 Months Ended
	Dec. 31, 2009	Sep. 30, 2017
Investments In Associated Companies [Line Items]
Capital contributed	$ 217.2
Percentage of ownership owned		50.00%
Distributions received		$ 546.9
Surety policy issued		$ 1,500
Reimbursement of losses incurred, maximum percentage		50.00%
Commercial paper		$ 1,470

Loans to and Investments In A89

Loans to and Investments In Associated Companies (FXCM) (Narrative) (Details) - Investment in FXCM [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Sep. 30, 2017	Sep. 01, 2016
Investments In Associated Companies [Line Items]
Percentage of ownership owned		49.90%	49.90%
Equity method investment impairment	$ 130.2

Loans to and Investments In A90

Loans to and Investments In Associated Companies (Garcadia) (Narrative) (Details)	Sep. 30, 2017Dealership
Garcadia [Member]
Investments In Associated Companies [Line Items]
Number of automobile dealerships	28
Plan One [Member] | Garcadia [Member]
Investments In Associated Companies [Line Items]
Percentage of cash F\flows allocated from joint venture	65.00%
Plan One [Member] | Garff Enterprises, Inc [Member]
Investments In Associated Companies [Line Items]
Percentage of cash F\flows allocated from joint venture	35.00%
Plan Two [Member] | Garcadia [Member]
Investments In Associated Companies [Line Items]
Number of automobile dealerships	1
Percentage of cash F\flows allocated from joint venture	83.00%
Plan Three [Member] | Garcadia [Member]
Investments In Associated Companies [Line Items]
Number of automobile dealerships	4
Percentage of cash F\flows allocated from joint venture	71.00%

Loans to and Investments In A91

Loans to and Investments In Associated Companies (Linkem) (Narrative) (Details) - Linkem [Member]	9 Months Ended
	Sep. 30, 2017
Investments In Associated Companies [Line Items]
Percentage of ownership owned	42.00%
Stated interest rate on convertible notes	5.00%
Percentage of ownership upon conversion of note	53.00%
Excess investment amortization period, years	12 years

Loans to and Investments In A92

Loans to and Investments In Associated Companies (HomeFed) (Narrative) (Details) - HomeFed Corporation [Member]	9 Months Ended
	Sep. 30, 2017directorshares
Investments In Associated Companies [Line Items]
Shares of common stock owned | shares	10,852,123
Percentage of ownership owned	70.00%
Maximum voting rights as a percentage of total voting securities voting	45.00%
Number of directors appointed by Company | director	3
Company Chairman [Member]
Investments In Associated Companies [Line Items]
Ownership percentage of company	4.80%

Loans to and Investments In A93

Loans to and Investments In Associated Companies (Golden Queen Mining Company) (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended		24 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2015	Dec. 31, 2013
Investments In Associated Companies [Line Items]
Contributions from noncontrolling interests	$ 25,724	$ 118,940
Gauss LLC [Member]
Investments In Associated Companies [Line Items]
Cash invested in Limited Liability Company			$ 83,000
Clay Family [Member]
Investments In Associated Companies [Line Items]
Contributions from noncontrolling interests			$ 34,500
Golden Queen Mining Company, LLC [Member]
Investments In Associated Companies [Line Items]
Equity method investment, ownership percentage	35.00%
Golden Queen Mining Company, LLC [Member] | Gauss LLC [Member]
Investments In Associated Companies [Line Items]
Total investment in associated company	$ 117,500
Equity method investment, ownership percentage	50.00%
Golden Queen Mining Co, Ltd [Member]
Investments In Associated Companies [Line Items]
Percentage of ownership owned	50.00%			100.00%

Loans to and Investments in A94

Loans to and Investments in Associated Companies (54 Madison) (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended		21 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017
Investments In Associated Companies [Line Items]
Equity Method Investment attributed from noncontrolling interest	$ 25,724	$ 118,940
54 Madison [Member]
Investments In Associated Companies [Line Items]
Equity method investments	$ 178,300		$ 178,300
Percentage of ownership owned	48.10%		48.10%
Equity Method Investment attributed from noncontrolling interest			$ 105,200

Loans to and Investments in A95

Loans to and Investments in Associated Companies Loans to and Investments in Associated Companies (Other) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Revenues	$ 3,101,152	$ 2,839,721
Income from continuing operations before extraordinary items	291,261	161,514
Net income	$ 291,261	$ 165,184

Financial Statement Offsettin96

Financial Statement Offsetting (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivative contracts, Assets
Gross Amounts	$ 2,784,013	$ 4,627,076
Netting in Consolidated Statements of Financial Condition	(2,595,355)	(4,255,998)
Net Amounts in Consolidated Statements of Financial Condition	188,658	371,078
Additional Amounts Available for Setoff	0	0
Available Collateral	0	0
Net Amount	188,658	371,078
Securities borrowing arrangements, Assets
Gross Amounts	7,758,532	7,743,562
Netting in Consolidated Statements of Financial Condition	0	0
Net Amounts in Consolidated Statements of Financial Condition	7,758,532	7,743,562
Additional Amounts Available for Setoff	(662,882)	(710,611)
Available Collateral	(952,004)	(647,290)
Net Amount	6,143,646	6,385,661
Reverse repurchase agreements, Assets
Gross Amounts	14,737,223	14,083,144
Netting in Consolidated Statements of Financial Condition	(11,365,788)	(10,220,656)
Net Amounts in Consolidated Statements of Financial Condition	3,371,435	3,862,488
Additional Amounts Available for Setoff	(307,453)	(176,275)
Available Collateral	(3,037,903)	(3,591,654)
Net Amount	26,079	94,559
Derivative contracts, Liabilities
Gross Amounts	3,290,194	4,880,022
Netting in Consolidated Statements of Financial Condition	(2,714,115)	(4,229,213)
Net Amounts in Consolidated Statements of Financial Condition	576,079	650,809
Additional Amounts Available for Setoff	0	0
Available Collateral	0	0
Net Amount	576,079	650,809
Securities lending arrangements, Liabilities
Gross Amounts	2,763,253	2,819,132
Netting in Consolidated Statements of Financial Condition	0	0
Net Amounts in Consolidated Statements of Financial Condition	2,763,253	2,819,132
Additional Amounts Available for Setoff	(662,882)	(710,611)
Available Collateral	(2,058,137)	(2,064,299)
Net Amount	42,234	44,222
Repurchase agreements, Liabilities
Gross Amounts	19,839,207	17,012,332
Netting in Consolidated Statements of Financial Condition	(11,365,788)	(10,220,656)
Net Amounts in Consolidated Statements of Financial Condition	8,473,419	6,791,676
Additional Amounts Available for Setoff	(307,453)	(176,275)
Available Collateral	(7,216,449)	(5,780,909)
Net Amount	949,517	834,492
Securities borrowing agreement, subject to review	6,088,900	6,337,500
Securities borrowing agreement, collateral received, subject to review	5,942,300	6,146,000
Repurchase agreement, net amount, subject to review	887,200	810,400
Repurchase agreements, collateral pledged, subject to review	$ 908,800	$ 834,200

Intangible Assets, Net and Go97

Intangible Assets, Net and Goodwill (Schedule of Intangible Assets, Net And Goodwill) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Intangible assets, net (excluding goodwill)	$ 754,833	$ 797,964
Goodwill	1,718,459	1,715,714
Total Intangible assets, net and goodwill	2,473,292	2,513,678
Exchange And Clearing Organization Membership Interests And Registrations [Member]
Intangible Assets [Line Items]
Indefinite lived intangibles	8,734	9,041
Customer And Other Relationships [Member]
Intangible Assets [Line Items]
Intangible assets, net (excluding goodwill)	355,253	378,136
Intangibles, accumulated amortization	222,095	198,674
Trademarks And Tradename [Member]
Intangible Assets [Line Items]
Intangible assets, net (excluding goodwill)	297,349	309,382
Intangibles, accumulated amortization	91,350	78,778
Supply Contracts [Member]
Intangible Assets [Line Items]
Intangible assets, net (excluding goodwill)	88,553	95,733
Intangibles, accumulated amortization	55,047	47,867
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Intangible assets, net (excluding goodwill)	4,944	5,672
Intangibles, accumulated amortization	3,642	2,914
Other Operations [Member]
Intangible Assets [Line Items]
Goodwill	3,859	3,859
National Beef [Member]
Intangible Assets [Line Items]
Goodwill	14,991	14,991
Jefferies [Member]
Intangible Assets [Line Items]
Goodwill	$ 1,699,609	$ 1,696,864

Intangible Assets, Net and Go98

Intangible Assets, Net and Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense on intangible assets	$ 15.4	$ 15.8	$ 43.6	$ 47.1

Intangible Assets, Net and Go99

Intangible Assets, Net and Goodwill (Schedule of Estimated Future Amortization Expense) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of current year	$ 14,612
2,018	58,454
2,019	58,454
2,020	58,455
2,021	$ 58,067

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Finished goods	$ 238,752	$ 243,488
Work in process	35,234	35,714
Raw materials, supplies and other	32,333	30,733
Total inventory	$ 306,319	$ 309,935

Short-Term Borrowings (Details)

Short-Term Borrowings (Details) - USD ($)	9 Months Ended	14 Months Ended
	Sep. 30, 2017	Jan. 24, 2017	Dec. 06, 2016	Dec. 31, 2016	Dec. 31, 2015	Oct. 31, 2015
Short-term Debt [Line Items]
Short-term borrowings	$ 417,122,000			$ 525,842,000
Interest rates on short-term borrowings outstanding	2.00%			1.77%
Floating Rate Puttable Notes [Member]
Short-term Debt [Line Items]
Short-term borrowings	$ 108,304,000			$ 96,455,000
Equity-linked Notes [Member]
Short-term Debt [Line Items]
Short-term borrowings	4,281,000			0
Principal amount of debt issued	30,600,000
Bank loans [Member]
Short-term Debt [Line Items]
Short-term borrowings	304,537,000			372,301,000
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Short-term borrowings	0			$ 57,086,000
Revolving Credit Facility [Member] | Secured Revolving Loan Facility [Member]
Short-term Debt [Line Items]
Credit facility maximum amount						$ 50,000,000
Revolving Credit Facility [Member] | Secured Revolving Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Debt instrument, basic spread on variable rate			3.75%
Revolving Credit Facility [Member] | Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Debt instrument, basic spread on variable rate		4.25%
Line of Credit [Member] | Loan Facility [Member]
Short-term Debt [Line Items]
Credit facility maximum amount					$ 50,000,000
Line of Credit [Member] | Intraday Credit Facility [Member]
Short-term Debt [Line Items]
Credit facility maximum amount	$ 250,000,000
Line of Credit [Member] | Intraday Credit Facility [Member] | Federal Funds Effective Swap Rate [Member]
Short-term Debt [Line Items]
Debt instrument, basic spread on variable rate	0.50%

Long-Term Debt (Schedule Of Ind

Long-Term Debt (Schedule Of Indebtedness) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 8,092,642	$ 7,380,443
Long-term debt, fair value	$ 553,870	$ 248,856
5.50% Senior Notes due October 18, 2023 [Member]
Debt Instrument [Line Items]
Interest rate	5.50%	5.50%
Principal	$ 750,000	$ 750,000
6.625% Senior Notes due October 23, 2043 [Member]
Debt Instrument [Line Items]
Interest rate	6.625%	6.625%
Principal	$ 250,000	$ 250,000
5.125% Senior Notes, due April 13, 2018 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 714,115	$ 817,813
Interest rate	5.125%	5.125%
Principal	$ 707,000	$ 800,000
8.5% Senior Notes, due July 15, 2019 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 739,465	$ 778,367
Interest rate	8.50%	8.50%
Principal	$ 684,000	$ 700,000
2.375% Euro Senior Notes, due May 20, 2020 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 593,547	$ 528,250
Interest rate	2.375%	2.375%
Principal	$ 595,075	$ 529,975
6.875% Senior Notes, due April 15, 2021 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 812,131	$ 823,797
Interest rate	6.875%	6.875%
Principal	$ 750,000	$ 750,000
2.25% Euro Medium Term Notes, due July 13, 2022 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 4,374	$ 3,848
Interest rate	2.25%	2.25%
Principal	$ 4,761	$ 4,240
5.125% Senior Notes, due January 20, 2023 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 616,378	$ 618,355
Interest rate	5.125%	5.125%
Principal	$ 600,000	$ 600,000
4.85% Senior Notes, due January 15, 2027 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 753,932	$ 0
Interest rate	4.85%	0.00%
Principal	$ 750,000	$ 0
6.45% Senior Debentures, due June 8, 2027 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 376,307	$ 377,806
Interest rate	6.45%	6.45%
Principal	$ 350,000	$ 350,000
3.875% Convertible Senior Debentures, due November 1, 2029 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 345,217	$ 346,163
Interest rate	3.875%	3.875%
Principal	$ 345,000	$ 345,000
6.25% Senior Debentures, due January 15, 2036 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 512,131	$ 512,396
Interest rate	6.25%	6.25%
Principal	$ 500,000	$ 500,000
6.50% Senior Notes, due January 20, 2043 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 421,078	$ 421,333
Interest rate	6.50%	6.50%
Principal	$ 400,000	$ 400,000
Structured Notes [Member]
Debt Instrument [Line Items]
Long-term debt	561,010	255,203
Long-term debt, fair value	553,900	248,900
Foursight Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term debt	114,329	97,138
Other [Member]
Debt Instrument [Line Items]
Long-term debt	116,847	132,244
Parent Company [Member]
Debt Instrument [Line Items]
Long-term debt	988,733	987,891
Parent Company [Member] | 5.50% Senior Notes due October 18, 2023 [Member]
Debt Instrument [Line Items]
Long-term debt	742,072	741,264
Parent Company [Member] | 6.625% Senior Notes due October 23, 2043 [Member]
Debt Instrument [Line Items]
Long-term debt	246,661	246,627
National Beef [Member] | Reducing Revolver Loan [Member]
Debt Instrument [Line Items]
Long-term debt	$ 87,500	0
Interest rate	2.98%
National Beef [Member] | National Beef Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	$ 21,821	0
Interest rate	5.00%
National Beef [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Long-term debt	$ 0	273,811
54 Madison [Member]
Debt Instrument [Line Items]
Long-term debt	188,200	230,200
54 Madison [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Long-term debt	313,727	406,028
Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term debt	7,103,909	$ 6,392,552
Interest Rate Swap [Member] | 4.85% Senior Notes, due January 15, 2027 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 9,600

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)Contract$ / sharesshares	Jan. 31, 2017USD ($)	Jan. 01, 2017	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value	$ 553,870,000			$ 248,856,000
Long-term debt	8,092,642,000			$ 7,380,443,000
National Beef [Member]
Debt Instrument [Line Items]
Aggregate outstanding letters of credit	$ 13,900,000
3.875% Convertible Senior Debentures, due November 1, 2029 [Member]
Debt Instrument [Line Items]
Interest rate	3.875%			3.875%
Incremental principal amount of notes	$ 1,000
Shares issuable upon conversion per $1000 debenture | shares	22.9719
Conversion price per common share for convertible notes | $ / shares	$ 43.53
Common stock price as a percent of conversion price minimum	130.00%
Earliest period of conversion price	20 days
Consecutive trading days	30 days
Trading price per debenture related to common stock, maximum	95.00%
Consecutive trading days	10 days
Contingent interest rate percent	0.375%
Trading period for contingent interest	5 days
Minimum average trading price for 5 trading days per $1,000 debenture	$ 1,200
Long-term debt	345,217,000			$ 346,163,000
Structured Notes [Member]
Debt Instrument [Line Items]
Long-term debt, fair value	553,900,000			248,900,000
Long-term debt	561,010,000			255,203,000
Structured Notes [Member] | Jefferies [Member]
Debt Instrument [Line Items]
Debt issuance, principal amount	287,500,000
Long-term debt, fair value	$ 553,900,000			248,900,000
Revolving Credit Facility [Member] | National Beef [Member]
Debt Instrument [Line Items]
Interest rate	5.00%
Credit facility maximum amount	$ 275,000,000
Long-term debt	21,821,000			0
Amount drawn from credit facility	21,800,000
Amount of revolver available	$ 198,100,000
Reducing Revolver Loan [Member] | National Beef [Member]
Debt Instrument [Line Items]
Interest rate	2.98%
Credit facility maximum amount	$ 275,000,000
Decrease of loan commitment on each annual anniversary of debt agreement	13,800,000
Long-term debt	87,500,000			0
Amount of revolver available	$ 187,500,000
6% Term Loan Due January 2018 [Member]
Debt Instrument [Line Items]
Interest rate	6.00%
Long-term debt	$ 62,600,000
5.5% Term Loan Due February 2019 [Member]
Debt Instrument [Line Items]
Interest rate	5.50%
Long-term debt	$ 96,500,000
3.5% Term Loan Due March 2019 [Member]
Debt Instrument [Line Items]
Interest rate	3.50%
Long-term debt	$ 500,000
5.5% Term Loan Due April 2019 [Member]
Debt Instrument [Line Items]
Interest rate	4.15%
Long-term debt	$ 52,000,000
5.5% Term Loan Due January 2020 [Member]
Debt Instrument [Line Items]
Interest rate	5.50%
Long-term debt	$ 101,600,000
3.5% Term Loan Due January 2020 [Member]
Debt Instrument [Line Items]
Interest rate	3.50%
Long-term debt	$ 500,000
Foursight Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term debt	$ 114,329,000			$ 97,138,000
Minimum [Member] | Revolving Credit Facility And Reducing Revolver Loan [Member] | National Beef [Member]
Debt Instrument [Line Items]
Debt instrument, basic spread on variable rate	0.75%
Maximum [Member] | Revolving Credit Facility And Reducing Revolver Loan [Member] | National Beef [Member]
Debt Instrument [Line Items]
Debt instrument, basic spread on variable rate	2.75%
Secured Debt [Member] | Foursight Credit Facilities [Member]
Debt Instrument [Line Items]
Credit facility maximum amount	$ 225,000,000
Number of warehouse credit commitment | Contract	2
Senior Notes [Member] | Senior Notes Due 2027 [Member] | Jefferies [Member]
Debt Instrument [Line Items]
Interest rate			4.85%
Principal amount of debt issued		$ 750,000,000
Line of Credit [Member] | Foursight Credit Facilities [Member] | Foursight Capital [Member]
Debt Instrument [Line Items]
Assets pledged for indebtedness	$ 140,000,000

Mezzanine Equity (Narrative) (D

Mezzanine Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 30, 2021	Dec. 30, 2018	Jan. 29, 2017	Dec. 31, 2016	Dec. 30, 2016
Purchase Requirement [Line Items]
Discount rate				11.90%
Terminal growth rate used to calculate the capitalization rate	2.00%			2.00%
Redeemable noncontrolling interests	$ 388,572			$ 388,572					$ 336,809
Mandatorily redeemable convertible preferred shares redemption value	$ 125,000			$ 125,000					125,000
Dividends per common share (in dollars per share)	$ 0.1		$ 0.0625	$ 0.225	$ 0.1875
3.25% Cumulative Convertible Preferred Shares [Member]
Purchase Requirement [Line Items]
Dividend rate on preferred stock				3.25%
Mandatorily redeemable convertible preferred shares redemption value	$ 125,000			$ 125,000
Mandatorily redeemable preferred stock, number of shares in conversion	4,162,200			4,162,200
Mandatorily redeemable preferred stock, effective conversion price per share	$ 30.03			$ 30.03
Minimum dividend considered for additional quarterly payments		$ 0.0625
Preferred stock dividend	$ 1,200		$ 1,000
Mandatorily redeemable preferred shares callable price per share	$ 1,000			$ 1,000
Common Stock [Member]
Purchase Requirement [Line Items]
Dividends per common share (in dollars per share)	$ 0.10	$ 0.0625
Other [Member]
Purchase Requirement [Line Items]
Redeemable noncontrolling interests	$ 14,100			$ 14,100					$ 14,800
National Beef [Member] | Put Rights [Member]
Purchase Requirement [Line Items]
Put right interest percentage								33.30%		33.30%
USPB [Member] | Maximum [Member] | Call Rights [Member]
Purchase Requirement [Line Items]
Ownership interests as a percent of original interest	20.00%			20.00%
Other Members [Member] | Maximum [Member] | Call Rights [Member]
Purchase Requirement [Line Items]
Ownership interests as a percent of original interest	50.00%			50.00%
Other Members [Member] | Minimum [Member] | Call Rights [Member]
Purchase Requirement [Line Items]
Anniversary of acquisition				10 years
Forecast [Member] | National Beef [Member] | Put Rights [Member]
Purchase Requirement [Line Items]
Put right interest percentage						33.30%	33.30%

Mezzanine Equity (Schedule Of R

Mezzanine Equity (Schedule Of Redeemable Noncontrolling Interests) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Redeemable Noncontrolling Interest [Roll Forward]
Beginning Balance			$ 336,809
Income allocated to redeemable noncontrolling interests	$ 36,216	$ 22,702	64,538	$ 40,084
Net distributions to redeemable noncontrolling interests			(37,214)	(18,469)
Increase (decrease) in fair value of redeemable noncontrolling interests			(24,404)	(132,831)
Ending Balance	388,572		388,572
National Beef [Member]
Redeemable Noncontrolling Interest [Roll Forward]
Beginning Balance			321,962	189,358
Income allocated to redeemable noncontrolling interests			65,088	40,225
Net distributions to redeemable noncontrolling interests			(37,029)	(18,460)
Increase (decrease) in fair value of redeemable noncontrolling interests			24,404	134,503
Ending Balance	$ 374,425	$ 345,626	$ 374,425	$ 345,626

Mezzanine Equity (Sensitivity A

Mezzanine Equity (Sensitivity Analysis Of Fair Value Of Redeemable Noncontrolling Interests Using Discount And Terminal Growth Rates) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate assumed in determining fair value	11.90%
Terminal growth rate used to calculate the capitalization rate	2.00%
Rate 1.75% Terminal Growth Rates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate used to calculate the capitalization rate	1.75%
Rate 2.00% Terminal Growth Rates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate used to calculate the capitalization rate	2.00%
Rate 2.25% Terminal Growth Rates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate used to calculate the capitalization rate	2.25%
Rate 11.65% Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate assumed in determining fair value	11.65%
Rate 11.65% 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	$ 379.3
Rate 11.65% 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	383.2
Rate 11.65% 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	$ 387.4
Rate 11.90% Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate assumed in determining fair value	11.90%
Rate 11.90% 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	$ 370.7
Rate 11.90% 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	374.4
Rate 11.90% 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	$ 378.3
Rate 12.15% Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal growth rate assumed in determining fair value	12.15%
Rate 12.15% 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	$ 362.6
Rate 12.15% 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	366
Rate 12.15% 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	$ 369.7

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2017shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Installmentshares	Sep. 30, 2016USD ($)	Dec. 30, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for stock options and warrants		331,312		331,312
Share-based compensation | $		$ 11,100	$ 8,900	$ 31,494	$ 24,936
Tax benefit for issuance of share-based awards | $		4,000	$ 3,300	11,200	$ 9,200
Total unrecognized compensation cost related to nonvested share-based awards | $		$ 71,800		$ 71,800
Employee service share-based compensation, unrecognized compensation costs on nonvested awards, weighted average period of recognition				1 year 9 months
Potential maximum increase to common shares outstanding from restricted stock and other shares		16,822,000		16,822,000
Sign-on and Retention Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				4 years
Amortization period				4 years
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation right granted (in shares)				0
Other Shares Issuable [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other shares issuable		701,000		701,000
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments | Installment				4
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments | Installment				5
Future Service Required [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares, nonvested, number		5,679,000		5,679,000
Future Service Required [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares, nonvested, number		1,332,000		1,332,000
No Future Service Required [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares, vested, number		10,442,000		10,442,000
Senior Executive Compensation Plan [Member] | Senior Executives [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period	3 years
Percentage of compensation beyond base salary will be performance-based	100.00%
Employee service share-based compensation, holding period	3 years
Stock price | $ / shares						$ 23.25
Performance measurement benchmark, percentage	8.00%
Fixed stock option plan and senior executive warrant plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant		0		0
Minimum [Member] | Senior Executive Compensation Plan [Member] | Senior Executives [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement benchmark, percentage	4.00%
Number of performance-based award eligible	537,634
Maximum [Member] | Senior Executive Compensation Plan [Member] | Senior Executives [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement benchmark, percentage	12.00%
4% to 8% [Member] | Senior Executive Compensation Plan [Member] | Senior Executives [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance-based award eligible	1,075,268
Greater than 8% [Member] | Senior Executive Compensation Plan [Member] | Senior Executives [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional incentive compensation, percentage	50.00%

Accumulated Other Comprehens108

Accumulated Other Comprehensive Income (Summary Of Accumulated Other Comprehensive Income, Net Of Taxes) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	$ 10,641,577	$ 10,303,649	$ 10,237,477	$ 10,465,890
Net unrealized gains on available for sale securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	570,240	561,497
Net unrealized foreign exchange losses [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	(130,394)	(184,829)
Net change in instrument specific credit risk [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	(15,364)	(6,494)
Net unrealized losses on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	(1,585)	0
Amortization of defined benefit pension plan actuarial gains (losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	(59,411)	(59,477)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	363,486	310,697
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	$ 363,486	$ 310,697	$ 360,681	$ 438,793

Accumulated Other Comprehens109

Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized securities gains	$ 19,707	$ 60	$ 21,278	$ 8,202
Compensation and benefits, which includes pension expense.			(5,352)	(1,142)
Net unrealized gains on available for sale securities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification for the period, tax			14	5
Net unrealized foreign exchange losses [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification for the period, tax			1,086	0
Amortization of defined benefit pension plan actuarial gains (losses) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Compensation and benefits, which includes pension expense.			(1,297)	(1,150)
Reclassification for the period, tax			(604)	(526)
Other pension [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification for the period, tax			(1,231)	0
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net unrealized gains on available for sale securities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized securities gains			24	8
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net unrealized foreign exchange losses [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income and other expenses			$ (5,310)	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Unrecognized tax benefits	$ 215.8	$ 196.5
Interest included in unrecognized tax benefits	54.8	47.7
Tax benefit from repatriation of foreign earnings	31.9
Jefferies [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	$ 164.2	$ 148.8

Earnings (Loss) Per Common S111

Earnings (Loss) Per Common Share (Earnings Per Share Computation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator for earnings (loss) per share:
Net income (loss) attributable to Leucadia National Corporation common shareholders	$ 99,351	$ 154,358	$ 438,952	$ (11,233)
Allocation of earnings to participating securities	(368)	(2,060)	(1,692)	0
Net income (loss) attributable to Leucadia National Corporation common shareholders for basic earnings (loss) per share	98,983	152,298	437,260	(11,233)
Adjustment to allocation of earnings to participating securities related to diluted shares	(2)	6	3	0
Mandatorily redeemable convertible preferred share dividends	0	1,016	3,203	0
Net income (loss) attributable to Leucadia National Corporation common shareholders for diluted earnings (loss) per share	$ 98,981	$ 153,320	$ 440,466	$ (11,233)
Denominator for earnings (loss) per share:
Denominator for basic earnings (loss) per share – weighted average shares (in shares)	367,828,000	370,404,000	368,736,000	371,814,000
Dilutive effect of share-based payment awards (in shares)	23,000	1,000	22,000	0
Warrants (in shares)	0	0	0	0
Mandatorily redeemable convertible preferred shares (in shares)	0	4,162,000	4,162,000	0
Denominator for diluted earnings (loss) per share (in shares)	370,198,000	374,567,000	375,233,000	371,814,000
Weighted average shares of participating securities (in shares)	1,366,700	5,009,500	1,433,500	4,859,900
3.875% Convertible Senior Debentures, due November 1, 2029 [Member]
Denominator for earnings (loss) per share:
Convertible Senior Debenture (in shares)	0	0	0	0
Senior Executive Compensation Plan [Member]
Denominator for earnings (loss) per share:
Dilutive effect of share-based payment awards (in shares)	2,347,000	0	2,313,000	0

Earnings (Loss) Per Common S112

Earnings (Loss) Per Common Share (Narrative) (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Employee Stock Option [Member]
Earnings Per Share [Line Items]
Securities excluded from computation of earnings per share amount (in shares)	647,300	660,000
Warrants [Member]
Earnings Per Share [Line Items]
Securities excluded from computation of earnings per share amount (in shares)		1,200,000
Exercise price (in dollars per share)		$ 33.33
3.875% Convertible Senior Debentures, due November 1, 2029 [Member]
Earnings Per Share [Line Items]
Convertible notes interest rate			3.875%	3.875%
3.875% Convertible Senior Debentures, due November 1, 2029 [Member] | Convertible Debt Securities [Member]
Earnings Per Share [Line Items]
Convertible notes interest rate	3.875%	3.875%	3.875%

Commitments, Contingencies a113

Commitments, Contingencies and Guarantees (Commitments and Contingencies) (Details) $ in Millions	Sep. 30, 2017USD ($)
Commitments And Guarantee Obligations [Line Items]
2,017	$ 6,086
2,018	438.8
2019 and 2020	319.7
2021 and 2022	279.2
2023 and Later	226.3
Maximum Payout	7,350
Equity Commitments [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	9.3
2,018	40.2
2019 and 2020	11.4
2021 and 2022	0
2023 and Later	214.2
Maximum Payout	275.1
Loan Commitments [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	0
2,018	244.1
2019 and 2020	0
2021 and 2022	53
2023 and Later	0
Maximum Payout	297.1
Mortgage-Related And Other Purchase Commitments [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	0
2,018	0
2019 and 2020	177.7
2021 and 2022	0
2023 and Later	0
Maximum Payout	177.7
Underwriting Commitments [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	70
2,018	0
2019 and 2020	0
2021 and 2022	0
2023 and Later	0
Maximum Payout	70
Forward Starting Reverse Repos [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	3,943.7
2,018	0
2019 and 2020	0
2021 and 2022	0
2023 and Later	0
Maximum Payout	3,943.7
Forward Starting Repos [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	2,018
2,018	0
2019 and 2020	0
2021 and 2022	0
2023 and Later	0
Maximum Payout	2,018
Other Unfunded Commitments [Member]
Commitments And Guarantee Obligations [Line Items]
2,017	45
2,018	154.5
2019 and 2020	130.6
2021 and 2022	226.2
2023 and Later	12.1
Maximum Payout	$ 568.4

Commitments, Contingencies a114

Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2014	Sep. 30, 2017	Sep. 30, 2017	Oct. 31, 2017	Dec. 31, 2016
Commitments Contingencies And Guarantees [Line Items]
Loan commitments outstanding to clients		$ 64,900,000	$ 64,900,000
Fair value of mortgage-related and other purchase commitments		44,500,000	44,500,000
Contractual obligations for the remainder of fiscal 2017		6,086,000,000	6,086,000,000
Contractual obligation for fiscal 2018		438,800,000	438,800,000
Fair value of derivative contracts meeting the definition of a guarantee		245,500,000	245,500,000
Contractual obligations		7,350,000,000	7,350,000,000
54 Madison [Member]
Commitments Contingencies And Guarantees [Line Items]
Maximum amount committed to invest as per agreement		202,500,000	202,500,000
Amount of contributed commitment		134,400,000	134,400,000
Approved unfunded commitment		36,300,000	36,300,000
Berkadia [Member]
Commitments Contingencies And Guarantees [Line Items]
Surety policy issued		$ 1,500,000,000	$ 1,500,000,000
Reimbursement of losses incurred, maximum percentage		50.00%	50.00%
Aggregate amount of commercial paper outstanding		$ 1,470,000,000	$ 1,470,000,000
Jefferies Finance [Member]
Commitments Contingencies And Guarantees [Line Items]
Line of credit facility, commitment of Jefferies, funded		35,100,000	35,100,000		$ 0
Line of credit facility commitment of Jefferies		250,000,000	250,000,000		$ 250,000,000
Maximum amount payable under guarantee		200,000	200,000
Jefferies [Member] | Standby Letters Of Credit [Member]
Commitments Contingencies And Guarantees [Line Items]
Letters of credit		54,000,000	54,000,000
Other Subsidiaries [Member]
Commitments Contingencies And Guarantees [Line Items]
Letters of credit		$ 15,000,000	15,000,000
Folger Hill [Member]
Commitments Contingencies And Guarantees [Line Items]
Revolving credit facility term	3 years
Entity line of credit facility	$ 20,000,000
Number of days prior written notice for optional termination right		10 days
Funded revolving credit facility		$ 10,200,000	10,200,000
Jefferies Capital Partners LLC And Its Private Equity Funds [Member]
Commitments Contingencies And Guarantees [Line Items]
Equity commitments		22,000,000	22,000,000
Other Investments [Member]
Commitments Contingencies And Guarantees [Line Items]
Equity commitments		15,400,000	15,400,000
Empire Insurance Company [Member]
Commitments Contingencies And Guarantees [Line Items]
Contractual obligations		$ 12,700,000	$ 12,700,000
Standby Letters of Credit [Member]
Commitments Contingencies And Guarantees [Line Items]
Expiration period maximum			1 year
Subsequent Event [Member] | Jefferies [Member]
Commitments Contingencies And Guarantees [Line Items]
Contractual obligations for the remainder of fiscal 2017				$ 2,500,000
Contractual obligation for fiscal 2018				11,900,000
Contractual obligation due annually from 2019 to 2028				$ 15,700,000

Commitments, Contingencies a115

Commitments, Contingencies and Guarantees (Guarantees) (Details) - Derivative Notional Amount [Member] $ in Millions	Sep. 30, 2017USD ($)
Derivative Contracts - Non-Credit Related [Member]
Guarantee Obligations [Line Items]
2,017	$ 8,530.1
2,018	5,114.5
2019 and 2020	2,183.1
2021 and 2022	215
2023 and Later	595.7
Maximum Payout	16,638.4
Written Derivative Contracts - Credit Related [Member]
Guarantee Obligations [Line Items]
2,017	0
2,018	41.4
2019 and 2020	10
2021 and 2022	279.8
2023 and Later	0
Maximum Payout	331.2
Derivative [Member]
Guarantee Obligations [Line Items]
2,017	8,530.1
2,018	5,155.9
2019 and 2020	2,193.1
2021 and 2022	494.8
2023 and Later	595.7
Maximum Payout	$ 16,969.6

Net Capital Requirements (Detai

Net Capital Requirements (Details) $ in Thousands	Sep. 30, 2017USD ($)
Jefferies LLC [Member]
Net Capital Requirements [Line Items]
Net Capital	$ 1,491,122
Excess Net Capital	1,411,625
Jefferies Execution [Member]
Net Capital Requirements [Line Items]
Net Capital	7,961
Excess Net Capital	$ 7,711

Other Fair Value Information (D

Other Fair Value Information (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term borrowings	$ 417,122	$ 525,842
Long-term debt	8,092,642	7,380,443
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes and loans receivable	961,641	962,938
Short-term borrowings	412,841	525,842
Long-term debt	7,538,772	7,131,587
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes and loans receivable	950,780	958,377
Short-term borrowings	412,841	525,842
Long-term debt	$ 7,930,261	$ 7,221,459

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)director	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)directorcattle	Sep. 30, 2016USD ($)	Dec. 31, 2014USD ($)shares	Dec. 31, 2016USD ($)
Related Party Transaction [Line Items]
Head of cattle to be purchased per year from members of USPB, actual number | cattle			735,385
Percentage of cattle requirements obtained through USPB			24.00%	26.00%
Sales to related party			$ 24,600	$ 22,700
Purchases from related party			9,700	10,600
Long-term debt	$ 8,092,642		$ 8,092,642			$ 7,380,443
HomeFed Corporation [Member]
Related Party Transaction [Line Items]
Cash paid on acquisition of common shares					$ 14,000
Common shares acquired | shares					7,500,000
Number of directors appointed by Company | director	3		3
54 Madison [Member]
Related Party Transaction [Line Items]
Long-term debt	$ 188,200		$ 188,200			230,200
Private Equity Related Funds [Member]
Related Party Transaction [Line Items]
Loans to and/or equity investments in related funds	28,100		28,100			37,700
Net gains (losses) from private equity related funds	(400)	$ 6,000	(9,800)	$ (1,700)
Berkadia [Member]
Related Party Transaction [Line Items]
Purchase commitment	722,900		722,900			817,000
Employees [Member]
Related Party Transaction [Line Items]
Loans outstanding to related party	$ 52,100		$ 52,100			$ 41,200
Company Chairman [Member] | HomeFed Corporation [Member]
Related Party Transaction [Line Items]
Ownership percentage of company	4.80%		4.80%
Minimum [Member] | 54 Madison [Member]
Related Party Transaction [Line Items]
Interest rate	4.20%		4.20%
Maximum [Member] | 54 Madison [Member]
Related Party Transaction [Line Items]
Interest rate	6.00%		6.00%

Segment Information (Schedule O

Segment Information (Schedule Of Segment Reporting Information, By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net Revenues	$ 2,896,522	$ 2,676,375	$ 8,496,884	$ 7,316,839
Consolidated income before income taxes	200,027	249,909	722,806	87,408
Depreciation and amortization expenses	55,424	52,691	155,651	153,070
Parent Company interest [Member]
Segment Reporting Information [Line Items]
Consolidated income before income taxes	(14,737)	(14,722)	(44,201)	(44,155)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	2,863,930	2,404,544	7,889,989	6,936,693
Consolidated income before income taxes	304,186	174,840	662,934	161,332
Depreciation and amortization expenses	43,457	40,075	122,998	116,596
Operating Segments [Member] | Jefferies [Member]
Segment Reporting Information [Line Items]
Net Revenues	802,909	656,496	2,381,967	1,678,212
Consolidated income before income taxes	128,112	83,190	383,094	(55,127)
Depreciation and amortization expenses	15,928	16,108	46,877	45,331
Operating Segments [Member] | National Beef [Member]
Segment Reporting Information [Line Items]
Net Revenues	2,039,299	1,747,042	5,476,274	5,180,127
Consolidated income before income taxes	174,479	108,269	310,007	192,533
Depreciation and amortization expenses	26,664	23,100	73,522	68,511
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net Revenues	21,722	1,006	31,748	78,354
Consolidated income before income taxes	1,595	(16,619)	(30,167)	23,926
Depreciation and amortization expenses	865	867	2,599	2,754
All other [Member]
Segment Reporting Information [Line Items]
Net Revenues	32,592	271,831	606,895	380,146
Consolidated income before income taxes	(89,422)	89,791	104,073	(29,769)
Depreciation and amortization expenses	$ 11,967	$ 12,616	$ 32,653	$ 36,474

Segment Information (Narrative)

Segment Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Interest expense	$ 27,325	$ 23,121	$ 82,543	$ 68,145
Parent Company interest [Member]
Segment Reporting Information [Line Items]
Interest expense	14,700	14,700	44,200	44,200
All other [Member]
Segment Reporting Information [Line Items]
Interest expense	10,900	5,400	32,600	13,300
National Beef [Member]
Segment Reporting Information [Line Items]
Interest expense	$ 1,700	$ 3,000	$ 5,800	$ 10,700