Assets and Liabilities Held for Sale

9 Months Ended

Aug. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Note 4. Assets and Liabilities Held for Sale

Tessellis

During 2026, we accepted a binding offer from a third party for the sale of Tessellis S.p.A. (“Tessellis”). We expect the sale to close during the first quarter of 2027.

Assets held for sale are recorded initially at the lower of their carrying value or estimated fair value, less estimated costs to sell. Upon designation as an asset held for sale, we discontinue recording Depreciation and amortization expense on such assets.

Tessellis is included within our asset management reportable segment.

Tessellis’ major classes of assets and liabilities:


$ in thousands	August 31, 2026
Assets held for sale:
Cash and cash equivalents	$	20,985
Investments in and loans to related parties	6,466
Other receivables	35,879
Premises and equipment, net	66,254
Goodwill	55,873
Other assets	108,603
Total assets held for sale	$	294,060

Liabilities held for sale:
Short term borrowings	$	2,362
Lease liabilities	18,394
Accrued expenses and other liabilities	231,742
Long-term debt	50,053
Total liabilities held for sale	$	302,551