v3.26.1
Income Taxes
6 Months Ended
May 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes
Note 17. Income Taxes
At May 31, 2026 and November 30, 2025, our total gross unrecognized tax benefits were $237.3 million and $241.6 million, respectively.
At May 31, 2026 and November 30, 2025, we had interest accrued of $191.5 million and $177.9 million, respectively, included in Accrued expenses and other liabilities.
The total amount of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate was $187.0 million and $190.9 million (net of Federal benefit) at May 31, 2026 and November 30, 2025, respectively.
We recognize interest and penalties, if any, related to unrecognized tax benefits in income tax expense.
We are currently under examination by a number of taxing jurisdictions. Though we do not expect that resolution of these examinations will have a material effect on our consolidated financial position, they may have a material impact on our consolidated results of operations for the period in which resolution occurs.
Earliest tax years that remain subject to examination in the major tax jurisdictions in which we operate:
JurisdictionTax Year
United States2022
New York State2003
New York City2006
United Kingdom2023
Germany2020
Hong Kong2020
Three Months Ended May 31,Six Months Ended
 May 31,
$ in millions2026202520262025
Income tax expense$65.6 $43.5 $118.4 $57.7 
Effective tax rate20.8 %32.3 %22.4 %20.2 %