Goodwill and Intangible Assets (Tables)
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6 Months Ended |
May 31, 2026 |
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| Intangible Asset, Goodwill and Other [Abstract] |
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| Goodwill |
| | | | | | | | | | | | | Six Months Ended May 31, 2026 | | $ in thousands | Investment Banking and Capital Markets | Asset Management | Total | | Balance, at beginning of period | $ | 1,535,961 | | $ | 301,609 | | $ | 1,837,570 | | | Currency translation and other adjustments | 886 | | 2,115 | | 3,001 | | | | | | | Impairment (1) | — | | (58,240) | | (58,240) | | | Reclassification to held for sale (1) | — | | (56,850) | | (56,850) | | | Balance, at end of period | $ | 1,536,847 | | $ | 188,634 | | $ | 1,725,481 | |
(1)Following the acceptance of a binding offer for Tessellis during the first quarter of 2026, we recorded a $58.2 million goodwill impairment charge. The remaining goodwill balance was reclassified as held for sale at May 31, 2026. See Note 4, Assets and Liabilities Held for Sale. | | | | | | | | | | | | | Six Months Ended May 31, 2025 | | $ in thousands | Investment Banking and Capital Markets | Asset Management | Total | | Balance, at beginning of period | $ | 1,533,013 | | $ | 294,925 | | $ | 1,827,938 | | | Currency translation and other adjustments | 4,457 | | 7,917 | | 12,374 | | | Measurement period adjustments (1) | — | | 1,802 | | 1,802 | | | | | | | Balance, at end of period | $ | 1,537,470 | | $ | 304,644 | | $ | 1,842,114 | |
(1)Relates to a measurement period adjustment recorded during the second quarter of 2025 attributable to the Go Internet acquisition. Refer to Note 4, Business Acquisitions and Discontinued Operations in our consolidated financial statements included in Part II, Item 8 of our Annual Report on Form 10-K for the year ended November 30, 2025 for further discussion. Carrying values of goodwill by reporting unit: | | | | | | | | | | $ in millions | May 31, 2026 | November 30, 2025 | | Investment banking | $ | 702.5 | | $ | 702.0 | | | Equities and wealth management | 256.0 | | 255.9 | | | Fixed income | 578.3 | | 578.0 | | | Asset management | 143.0 | | 143.0 | | | Other investments | 45.7 | | 158.7 | | | Total | $ | 1,725.5 | | $ | 1,837.6 | |
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| Intangible Asset, Finite-Lived |
| | | | | | | | | | | | | | | | | | | May 31, 2026 | Weighted Average Remaining Lives (Years) | | $ in thousands | Gross Cost | | | Accumulated Amortization | | Net Carrying Amount | | Customer relationships (1) | $ | 127,611 | | | | $ | (106,063) | | | $ | 21,548 | | 4.7 | | Trademarks and trade names (1) | 128,953 | | | | (48,874) | | | 80,079 | | 21.8 | | Exchange and clearing organization membership interests and registrations | 8,708 | | | | — | | | 8,708 | | N/A | | Other (1) | 15,145 | | | | (14,446) | | | 699 | | 2.3 | | Total | $ | 280,417 | | | | $ | (169,383) | | | $ | 111,034 | | |
| | | | | | | | | | | | | | | | | | | | | November 30, 2025 | Weighted Average Remaining Lives (Years) | | $ in thousands | Gross Cost | Assets Acquired | | Accumulated Amortization | | Net Carrying Amount | | Customer relationships | $ | 166,328 | | $ | 622 | | | $ | (116,810) | | | $ | 50,140 | | 4.6 | | Trademarks and trade names | 160,674 | | — | | | (55,948) | | | 104,726 | | 20.6 | | Exchange and clearing organization membership interests and registrations | 8,717 | | — | | | — | | | 8,717 | | N/A | | Other | 86,815 | | 99 | | | (47,920) | | | 38,994 | | 2.8 | | Total | $ | 422,534 | | $ | 721 | | | $ | (220,678) | | | $ | 202,577 | | |
(1)Following the acceptance of a binding offer for Tessellis during the first quarter of 2026, intangible assets of $82.7 million related to Tessellis were reclassified as held for sale at February 28, 2026. See Note 4, Assets and Liabilities Held for Sale.
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| Intangible Asset, Indefinite-Lived |
| | | | | | | | | | | | | | | | | | | May 31, 2026 | Weighted Average Remaining Lives (Years) | | $ in thousands | Gross Cost | | | Accumulated Amortization | | Net Carrying Amount | | Customer relationships (1) | $ | 127,611 | | | | $ | (106,063) | | | $ | 21,548 | | 4.7 | | Trademarks and trade names (1) | 128,953 | | | | (48,874) | | | 80,079 | | 21.8 | | Exchange and clearing organization membership interests and registrations | 8,708 | | | | — | | | 8,708 | | N/A | | Other (1) | 15,145 | | | | (14,446) | | | 699 | | 2.3 | | Total | $ | 280,417 | | | | $ | (169,383) | | | $ | 111,034 | | |
| | | | | | | | | | | | | | | | | | | | | November 30, 2025 | Weighted Average Remaining Lives (Years) | | $ in thousands | Gross Cost | Assets Acquired | | Accumulated Amortization | | Net Carrying Amount | | Customer relationships | $ | 166,328 | | $ | 622 | | | $ | (116,810) | | | $ | 50,140 | | 4.6 | | Trademarks and trade names | 160,674 | | — | | | (55,948) | | | 104,726 | | 20.6 | | Exchange and clearing organization membership interests and registrations | 8,717 | | — | | | — | | | 8,717 | | N/A | | Other | 86,815 | | 99 | | | (47,920) | | | 38,994 | | 2.8 | | Total | $ | 422,534 | | $ | 721 | | | $ | (220,678) | | | $ | 202,577 | | |
(1)Following the acceptance of a binding offer for Tessellis during the first quarter of 2026, intangible assets of $82.7 million related to Tessellis were reclassified as held for sale at February 28, 2026. See Note 4, Assets and Liabilities Held for Sale.
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| Schedule of Future Amortization Expense Related to Intangible Assets |
Estimated future amortization expense for the next five fiscal years: | | | | | | | Year | $ in thousands | | Remainder of fiscal year 2026 | $ | 4,354 | | | Year ending November 30, 2027 | 8,685 | | | Year ending November 30, 2028 | 8,567 | | | Year ending November 30, 2029 | 8,380 | | | Year ending November 30, 2030 | 8,322 | |
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