v3.26.1
Fair Value Disclosures - Level 3 Rollforwards (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
May 31, 2026
May 31, 2025
May 31, 2026
May 31, 2025
Assets:        
Total gains/(losses) (realized and unrealized) $ 14,500 $ 12,800 $ (31,500) $ 2,500
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held       0
Liabilities:        
Total gains/(losses) (realized and unrealized) $ (3,600) $ 32,900 $ (23,900) $ (36,300)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Revenues Revenues Revenues Revenues
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Revenues Revenues Revenues Revenues
Corporate equity securities        
Assets:        
Beginning balance $ 218,483 $ 212,409 $ 218,853 $ 239,364
Total gains/(losses) (realized and unrealized) 24,352 8,245 19,100 9,940
Purchases 14,242 2,482 25,895 7,049
Sales (4,487) (2,201) (7,026) (5,366)
Settlements (103) 0 (103) 494
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 3,379 10,225 (853) (20,321)
Ending balance 255,866 231,160 255,866 231,160
Changes in unrealized gains/(losses) included in earnings for instruments still held 24,802 5,003 19,153 8,292
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance 167 590 155 208
Total gains/(losses) (realized and unrealized) 2 (256) 14 126
Purchases 0 (173) 0 (173)
Sales 0 0 0 0
Settlements 0 0 0 0
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 0 0 0 0
Ending balance 169 161 169 161
Changes in unrealized gains/ (losses) included in earnings for instruments still held (2) 31 (14) (126)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Corporate debt securities        
Assets:        
Beginning balance 50,755 25,925 37,578 24,931
Total gains/(losses) (realized and unrealized) (184) 2,547 1,110 2,147
Purchases 4,717 18,805 14,323 37,129
Sales (20) (15,740) 0 (23,787)
Settlements (432) (2,177) (1,061) (2,197)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (25) 15,322 2,861 6,459
Ending balance 54,811 44,682 54,811 44,682
Changes in unrealized gains/(losses) included in earnings for instruments still held 267 2,194 1,518 2,419
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance 555 1,113 3,720 165
Total gains/(losses) (realized and unrealized) 0 222 181 52
Purchases 0 (41,346) 0 (135,198)
Sales 0 41,436 0 135,433
Settlements 0 (662) 0 0
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 16 (119) (3,330) 192
Ending balance 571 644 571 644
Changes in unrealized gains/ (losses) included in earnings for instruments still held 0 (86) (232) (123)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
CDOs and CLOs        
Assets:        
Beginning balance 61,455 71,827 40,187 63,976
Total gains/(losses) (realized and unrealized) (4,425) (4,123) (9,155) (10,286)
Purchases 37,442 35,644 68,668 52,875
Sales (4,026) (18,469) (15,658) (23,728)
Settlements 0 (6,550) (23) (6,550)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (27,900) (7,381) (21,473) (5,339)
Ending balance 62,546 70,948 62,546 70,948
Changes in unrealized gains/(losses) included in earnings for instruments still held (4,703) (4,564) (7,648) (10,336)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Sovereign obligations        
Assets:        
Beginning balance       172
Total gains/(losses) (realized and unrealized)       2
Purchases       0
Sales       (174)
Settlements       0
Issuances       0
Net transfers into/ (out of) Level 3       0
Ending balance   0   0
Changes in unrealized gains/(losses) included in earnings for instruments still held       0
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held       0
RMBS        
Assets:        
Beginning balance 6,134 7,526 6,663 7,714
Total gains/(losses) (realized and unrealized) (443) 436 (522) 269
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (315) (15) (765) (36)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 0 0 0 0
Ending balance 5,376 7,947 5,376 7,947
Changes in unrealized gains/(losses) included in earnings for instruments still held (443) 439 (522) 279
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance   15    
Total gains/(losses) (realized and unrealized)   (15)    
Purchases   0    
Sales   0    
Settlements   0    
Issuances   0    
Net transfers into/ (out of) Level 3   0    
Ending balance   0   0
Changes in unrealized gains/ (losses) included in earnings for instruments still held   0    
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held   0    
CMBS        
Assets:        
Beginning balance 355 471 348 477
Total gains/(losses) (realized and unrealized) (105) 34 (98) 28
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements 0 0 0 0
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (15) 0 (15) 0
Ending balance 235 505 235 505
Changes in unrealized gains/(losses) included in earnings for instruments still held (105) 34 (98) 28
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance   1,154   1,153
Total gains/(losses) (realized and unrealized)   (1)   0
Purchases   0   0
Sales   35   35
Settlements   0   0
Issuances   0   0
Net transfers into/ (out of) Level 3   (35)   (35)
Ending balance   1,153   1,153
Changes in unrealized gains/ (losses) included in earnings for instruments still held   1   0
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held   0   0
Other ABS        
Assets:        
Beginning balance 244,714 147,319 133,001 103,214
Total gains/(losses) (realized and unrealized) (22,349) 6,814 (67,663) (264)
Purchases 25,936 27,523 139,191 86,866
Sales (27,041) (26,231) (34,939) (30,929)
Settlements (7,345) (1,863) (10,264) (4,175)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (23,826) 119 30,763 (1,031)
Ending balance 190,089 153,681 190,089 153,681
Changes in unrealized gains/(losses) included in earnings for instruments still held (24,387) 5,985 (69,823) (565)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Loans and other receivables        
Assets:        
Beginning balance 85,396 153,764 127,720 152,586
Total gains/(losses) (realized and unrealized) 18,797 (7,236) 22,225 (5,759)
Purchases 25,427 18,008 76,044 72,851
Sales (28,760) (39,475) (79,669) (82,603)
Settlements (7,607) (13,063) (8,345) (21,549)
Issuances 0 0 0 3,670
Net transfers into/ (out of) Level 3 (2,931) (19,830) (47,653) (27,028)
Ending balance 90,322 92,168 90,322 92,168
Changes in unrealized gains/(losses) included in earnings for instruments still held 21,162 (10,875) 23,736 (9,134)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Investments at fair value        
Assets:        
Beginning balance 167,195 157,881 163,107 137,865
Total gains/(losses) (realized and unrealized) (1,100) 6,041 3,536 6,434
Purchases 9,225 261 9,475 21,549
Sales (685) 0 (708) 0
Settlements (3,267) (804) (4,042) (2,469)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 0 (10,000) 0 (10,000)
Ending balance 171,368 153,379 171,368 153,379
Changes in unrealized gains/(losses) included in earnings for instruments still held (1,387) 3,581 2,484 3,974
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Loans        
Liabilities:        
Beginning balance 921 848 9,757 16,864
Total gains/(losses) (realized and unrealized) 135 (658) (345) (1,673)
Purchases 0 (37) (697) (1,046)
Sales 375 0 1,100 0
Settlements 0 183 0 698
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (79) (23) (8,463) (14,530)
Ending balance 1,352 313 1,352 313
Changes in unrealized gains/ (losses) included in earnings for instruments still held (473) (226) (1,805) 39
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Net derivatives        
Liabilities:        
Beginning balance 28,562 42,076 35,642 22,286
Total gains/(losses) (realized and unrealized) 2,873 (1,132) 2,518 (13,925)
Purchases (821) 0 (1,492) 0
Sales 0 0 0 22,588
Settlements (4,485) (4) (3,125) (484)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (12,588) (7,652) (20,002) 2,823
Ending balance 13,541 33,288 13,541 33,288
Changes in unrealized gains/ (losses) included in earnings for instruments still held (3,266) (6,385) (3,494) 5,076
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Other secured financings        
Liabilities:        
Beginning balance 11,685 12,705 13,454 14,884
Total gains/(losses) (realized and unrealized) (245) 0 (360) 241
Purchases 0 0 0 0
Sales 0 0 120 0
Settlements (1,364) (2,360) (3,138) (4,780)
Issuances 0 8,531 0 8,531
Net transfers into/ (out of) Level 3 0 0 0 0
Ending balance 10,076 18,876 10,076 18,876
Changes in unrealized gains/ (losses) included in earnings for instruments still held (72) 0 36 (241)
Long-term debt        
Liabilities:        
Beginning balance 1,024,067 860,684 1,063,358 821,903
Total gains/(losses) (realized and unrealized) (6,329) 34,729 (25,949) (21,118)
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements 0 (5,893) (23,695) (2,799)
Issuances 29,344 93,570 36,081 218,124
Net transfers into/ (out of) Level 3 23,032 8,066 20,319 (24,954)
Ending balance 1,070,114 991,156 1,070,114 991,156
Changes in unrealized gains/ (losses) included in earnings for instruments still held 40,009 (49,509) 4,737 (19,522)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held $ (33,680) $ 14,781 $ 21,212 $ 40,640