v3.26.1
Segment Reporting - Net Revenues, Expenses and Total Assets by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
May 31, 2026
May 31, 2025
May 31, 2026
May 31, 2025
Revenues        
Revenues $ 3,118,197 $ 2,494,315 $ 5,989,462 $ 4,967,179
Interest expense 911,746 859,868 1,765,881 1,739,713
Net revenues 2,206,451 1,634,447 4,223,581 3,227,466
Non-interest expenses        
Compensation and benefits 1,188,245 854,839 2,274,135 1,695,966
Brokerage and clearing fees 147,446 129,745 280,578 239,181
Technology and communications 162,860 146,198 322,718 285,673
Business development 89,108 80,070 164,530 152,361
Cost of sales 31,253 42,961 61,173 84,529
Total non-interest expenses 1,890,902 1,499,546 3,695,816 2,941,500
Earnings from continuing operations before income taxes 315,549 134,901 527,765 285,966
Total equity method pickup earnings (losses) recognized in Other revenues 21,800 8,100 46,300 15,200
Depreciation and amortization 47,328 52,253 104,193 83,241
Operating Segments        
Revenues        
Non-interest revenues 2,231,500 1,606,900 4,288,800 3,232,300
Interest income 562,900 878,000 1,376,000 1,723,200
Revenues 2,794,400 2,484,900 5,664,800 4,955,500
Interest expense 600,600 859,900 1,454,700 1,739,900
Net revenues 2,193,800 1,625,000 4,210,100 3,215,600
Non-interest expenses        
Compensation and benefits 1,188,300 854,800 2,274,100 1,695,900
Brokerage and clearing fees 147,400 129,800 280,600 239,200
Technology and communications 162,900 146,200 322,700 285,700
Business development 89,100 80,000 164,500 152,300
Cost of sales 31,300 43,000 61,200 84,600
Other segment items 272,000 245,700 592,700 483,800
Total non-interest expenses 1,891,000 1,499,500 3,695,800 2,941,500
Earnings from continuing operations before income taxes 302,800 125,500 514,300 274,100
Investment Banking and Capital Markets        
Non-interest expenses        
Total equity method pickup earnings (losses) recognized in Other revenues 17,900 5,900 38,200 10,600
Depreciation and amortization 34,200 29,600 67,700 39,500
Investment Banking and Capital Markets | Operating Segments        
Revenues        
Non-interest revenues 2,020,400 1,413,800 3,821,800 2,817,500
Interest income 536,700 842,600 1,306,900 1,645,200
Revenues 2,557,100 2,256,400 5,128,700 4,462,700
Interest expense 551,000 786,000 1,326,600 1,593,500
Net revenues 2,006,100 1,470,400 3,802,100 2,869,200
Non-interest expenses        
Compensation and benefits 1,108,200 786,100 2,129,400 1,555,200
Brokerage and clearing fees 132,700 119,600 254,600 219,800
Technology and communications 146,200 132,600 288,700 260,200
Business development 85,200 70,900 155,400 129,600
Other segment items 218,200 172,900 407,400 349,400
Total non-interest expenses 1,690,500 1,282,100 3,235,500 2,514,200
Earnings from continuing operations before income taxes 315,600 188,300 566,600 355,000
Asset Management        
Non-interest expenses        
Earnings from continuing operations before income taxes 5,400 7,700 21,300 14,700
Total equity method pickup earnings (losses) recognized in Other revenues 3,800 2,200 8,000 4,600
Depreciation and amortization 13,100 22,600 36,500 43,700
Asset Management | Operating Segments        
Revenues        
Non-interest revenues 211,100 193,100 467,000 414,800
Interest income 26,200 35,400 69,100 78,000
Revenues 237,300 228,500 536,100 492,800
Interest expense 49,600 73,900 128,100 146,400
Net revenues 187,700 154,600 408,000 346,400
Non-interest expenses        
Compensation and benefits 80,100 68,700 144,700 140,700
Brokerage and clearing fees 14,700 10,200 26,000 19,400
Technology and communications 16,700 13,600 34,000 25,500
Business development 3,900 9,100 9,100 22,700
Cost of sales 31,300 43,000 61,200 84,600
Other segment items 53,800 72,800 185,300 134,400
Total non-interest expenses 200,500 217,400 460,300 427,300
Earnings from continuing operations before income taxes (12,800) (62,800) (52,300) (80,900)
Asset Management | Operating Segments | Asset Management Fees and Investment Return        
Non-interest expenses        
Earnings from continuing operations before income taxes (35,700) 4,700 44,300 18,100
Asset Management | Operating Segments | Other Investments        
Non-interest expenses        
Earnings from continuing operations before income taxes $ 22,900 $ (67,500) $ (96,700) $ (99,100)