v3.26.1
Related Party Transactions - Related Party Transactions (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2026
May 31, 2025
May 31, 2026
May 31, 2025
Nov. 30, 2025
Assets          
Cash and cash equivalents $ 14,314,804   $ 14,314,804   $ 14,043,889
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations 1,135,859   1,135,859   917,697
Financial instruments owned, at fair value 28,038,115   28,038,115   27,722,739
Securities borrowed 9,729,918   9,729,918   8,295,161
Securities purchased under agreements to resell 9,407,203   9,407,203   8,449,107
Receivables:          
Brokers, dealers and clearing organizations 3,269,022   3,269,022   4,310,143
Customers 4,187,519   4,187,519   3,439,921
Fees, interest and other 848,830   848,830   806,324
Other assets 3,531,359   3,531,359   3,246,706
Total assets 79,539,946   79,539,946   76,012,347
Liabilities          
Financial instruments sold, not yet purchased, at fair value 14,547,022   14,547,022   13,320,152
Securities loaned 3,104,614   3,104,614   2,540,759
Securities sold under agreements to repurchase 11,318,047   11,318,047   12,156,737
Payables:          
Brokers, dealers and clearing organizations 6,385,622   6,385,622   6,955,100
Accrued expenses and other liabilities 3,337,495   3,337,495   3,836,709
Long-term debt 18,040,982   18,040,982   15,895,891
Total liabilities 68,932,155   68,932,155   65,369,738
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  
Technology and communications 162,860 146,198 322,718 285,673  
Business development 89,108 80,070 164,530 152,361  
Other expenses 64,598 70,476 186,238 157,034  
Total non-interest expenses 1,890,902 1,499,546 3,695,816 2,941,500  
Principal transactions          
Revenues          
Revenues 488,666 338,507 976,164 745,737  
Commissions and other fees          
Revenues          
Revenues 400,614 353,233 768,218 641,533  
Interest          
Revenues          
Revenues 853,962 878,025 1,667,081 1,723,196  
Sumitomo Mitsui Banking Corporation Agreement | Related Party          
Assets          
Cash and cash equivalents 352,961   352,961   444,506
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations 26,337   26,337   27,975
Financial instruments owned, at fair value 7,426   7,426   395
Securities borrowed 5,403   5,403   3,872
Securities purchased under agreements to resell 210,919   210,919   357,261
Receivables:          
Brokers, dealers and clearing organizations 56,168   56,168   7,752
Customers 0   0   206
Fees, interest and other 6,263   6,263   5,438
Other assets 11,953   11,953   6,203
Total assets 677,430   677,430   853,608
Liabilities          
Financial instruments sold, not yet purchased, at fair value 7,704   7,704   6,763
Securities loaned 187,287   187,287   620
Securities sold under agreements to repurchase 574,516   574,516   638,581
Payables:          
Brokers, dealers and clearing organizations 688   688   470
Accrued expenses and other liabilities 26,090   26,090   9,537
Long-term debt 350,000   350,000   0
Total liabilities 1,146,285   1,146,285   $ 655,971
Revenues          
Revenues 58,678 14,880 67,382 22,803  
Interest expense 9,292 10,844 16,240 21,716  
Net revenues 49,386 4,036 51,142 1,087  
Non-interest expenses          
Compensation and benefits 6 0 1,250 0  
Technology and communications 2,020 0 3,044 0  
Business development 18,540 7,117 28,114 11,805  
Other expenses 706 1 1,796 5  
Total non-interest expenses 21,272 7,118 34,204 11,810  
Sumitomo Mitsui Banking Corporation Agreement | Related Party | Revolving Credit Facility | Line of credit          
Payables:          
Paydown on a credit facility 1,150,000   1,150,000    
Sumitomo Mitsui Banking Corporation Agreement | Related Party | Investment banking          
Revenues          
Revenues 4,933 3,814 8,262 7,663  
Sumitomo Mitsui Banking Corporation Agreement | Related Party | Principal transactions          
Revenues          
Revenues 47,985 3,197 48,312 (995)  
Sumitomo Mitsui Banking Corporation Agreement | Related Party | Commissions and other fees          
Revenues          
Revenues 877 752 1,400 1,401  
Sumitomo Mitsui Banking Corporation Agreement | Related Party | Interest          
Revenues          
Revenues $ 4,883 $ 7,117 $ 9,408 $ 14,734