v3.26.3
Fair Value Disclosures - Level 3 Rollforwards (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Aug. 31, 2026
Aug. 31, 2025
Aug. 31, 2026
Aug. 31, 2025
Assets:        
Total gains/(losses) (realized and unrealized) $ (18,700) $ 30,000 $ (52,400) $ 25,100
Liabilities:        
Total gains/(losses) (realized and unrealized) $ 41,900 $ 65,500 $ 8,600 $ 6,400
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 $ 255,866 $ 231,160 $ 218,853 $ 239,364
Total gains/(losses) (realized and unrealized) (9,752) 21,824 8,953 31,303
Purchases 2,764 20,785 27,447 28,748
Sales (375) (1,487) (6,684) (8,940)
Settlements 0 (788) (103) 494
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (5,114) 815 (5,077) (18,660)
Ending balance 243,389 272,309 243,389 272,309
Changes in unrealized gains/(losses) included in earnings for instruments still held (9,729) 21,916 9,088 29,840
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance 169 161 155 208
Total gains/(losses) (realized and unrealized) (234) (312) (3,074) (864)
Purchases 0 (1) (500) (72,161)
Sales 0 426 0 73,148
Settlements 0 0 0 0
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 305 522 3,659 465
Ending balance 240 796 240 796
Changes in unrealized gains/ (losses) included in earnings for instruments still held 76 309 3,430 999
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Corporate debt securities        
Assets:        
Beginning balance 54,811 44,682 37,578 24,931
Total gains/(losses) (realized and unrealized) 1,520 872 2,686 2,385
Purchases 10,578 1,221 32,482 12,455
Sales (548) (788) (282) (1,168)
Settlements (440) 0 (1,501) (2,197)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (96) (11,607) (5,138) (2,026)
Ending balance 65,825 34,380 65,825 34,380
Changes in unrealized gains/(losses) included in earnings for instruments still held 1,738 860 1,640 1,472
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance 571 644 3,720 165
Total gains/(losses) (realized and unrealized) 96 126 374 60
Purchases 0 (119) (1,373) (280)
Sales 0 0 0 351
Settlements 0 (270) 0 192
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (16) 107 (2,070) 0
Ending balance 651 488 651 488
Changes in unrealized gains/ (losses) included in earnings for instruments still held (96) (117) (339) (90)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
CDOs and CLOs        
Assets:        
Beginning balance 62,546 70,948 40,187 63,976
Total gains/(losses) (realized and unrealized) (3,446) (3,654) (15,862) (14,474)
Purchases 40,119 20,718 116,957 69,479
Sales (7,263) (17,731) (28,426) (39,811)
Settlements 0 (3,463) (23) (10,013)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 208 (14,509) (20,669) (16,848)
Ending balance 92,164 52,309 92,164 52,309
Changes in unrealized gains/(losses) included in earnings for instruments still held (1,705) (4,188) (10,243) (15,237)
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 5,376 7,947 6,663 7,714
Total gains/(losses) (realized and unrealized) (283) 46 (800) 315
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (414) (15) (1,184) (51)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 0 0 0 0
Ending balance 4,679 7,978 4,679 7,978
Changes in unrealized gains/(losses) included in earnings for instruments still held (378) 50 (1,269) 331
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
CMBS        
Assets:        
Beginning balance 235 505 348 477
Total gains/(losses) (realized and unrealized) 2 1 (96) 29
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 0 0 (15) 0
Ending balance 237 506 237 506
Changes in unrealized gains/(losses) included in earnings for instruments still held 2 1 (96) 29
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Liabilities:        
Beginning balance   1,153   1,153
Total gains/(losses) (realized and unrealized)   0   0
Purchases   0   0
Sales   35   105
Settlements   0   0
Issuances   0   0
Net transfers into/ (out of) Level 3   0   (70)
Ending balance   1,188   1,188
Changes in unrealized gains/ (losses) included in earnings for instruments still held   0   0
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held   0   0
Other ABS        
Assets:        
Beginning balance 190,089 153,681 133,001 103,214
Total gains/(losses) (realized and unrealized) (14,482) (2,589) (82,710) (2,792)
Purchases 25,567 23,586 165,628 60,151
Sales (588) (1,579) (35,758) (31,920)
Settlements (34,867) (2,888) (45,205) (8,089)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 (10,763) (44,036) 20,000 5,611
Ending balance 154,956 126,175 154,956 126,175
Changes in unrealized gains/(losses) included in earnings for instruments still held (9,577) (732) (79,314) (1,256)
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 90,322 92,168 127,720 152,586
Total gains/(losses) (realized and unrealized) 1,043 3,213 25,149 (8,455)
Purchases 79,664 65,988 126,248 213,419
Sales (61,237) (44,566) (109,704) (196,921)
Settlements (19,765) (16,129) (28,554) (38,621)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 8,294 39,248 (42,538) 17,914
Ending balance 98,321 139,922 98,321 139,922
Changes in unrealized gains/(losses) included in earnings for instruments still held 21,387 4,862 26,928 10,777
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 171,368 153,379 163,107 137,865
Total gains/(losses) (realized and unrealized) 6,744 10,308 10,281 16,742
Purchases 0 1,000 9,475 22,549
Sales (267) (2,446) (976) (2,446)
Settlements (40,337) (741) (44,379) (3,210)
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 74,400 0 74,400 (10,000)
Ending balance 211,908 161,500 211,908 161,500
Changes in unrealized gains/(losses) included in earnings for instruments still held 4,946 9,502 8,006 13,540
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Loans        
Liabilities:        
Beginning balance 1,352 313 9,757 16,864
Total gains/(losses) (realized and unrealized) 207 1,691 (1,009) (14,097)
Purchases (345) 0 (697) (875)
Sales 0 0 725 74
Settlements 0 0 0 0
Issuances 0 0 0 0
Net transfers into/ (out of) Level 3 49 (38) (7,513) 0
Ending balance 1,263 1,966 1,263 1,966
Changes in unrealized gains/ (losses) included in earnings for instruments still held (504) (1,101) (1,207) (1,790)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Net derivatives        
Liabilities:        
Beginning balance 13,541 33,288 35,642 22,286
Total gains/(losses) (realized and unrealized) 59,419 9,477 56,151 (11,263)
Purchases 0 (533) (4,630) (533)
Sales 0 719 0 23,307
Settlements (81,176) (748) (64,970) (1,166)
Issuances 1,835 0 10,019 0
Net transfers into/ (out of) Level 3 5,849 (5,307) (32,744) 4,265
Ending balance (532) 36,896 (532) 36,896
Changes in unrealized gains/ (losses) included in earnings for instruments still held 22,715 (9,313) 8,808 2,447
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0 0 0 0
Other secured financings        
Assets:        
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held   0    
Liabilities:        
Beginning balance 10,076 18,876 13,454 14,884
Total gains/(losses) (realized and unrealized) 1,895 143 1,535 346
Purchases (120) 0 0 0
Sales 0 0 0 0
Settlements (1,133) (2,905) (4,271) (7,647)
Issuances 0 0 0 8,531
Net transfers into/ (out of) Level 3 0 0 0 0
Ending balance 10,718 16,114 10,718 16,114
Changes in unrealized gains/ (losses) included in earnings for instruments still held (1,967) (255) (1,932) (1,366)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held 0   0 0
Long-term debt        
Liabilities:        
Beginning balance 1,070,114 991,156 1,063,358 821,903
Total gains/(losses) (realized and unrealized) (19,476) 54,332 (45,425) 32,255
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (20,479) (2,050) (44,174) (4,849)
Issuances 28,231 29,155 64,312 247,279
Net transfers into/ (out of) Level 3 (37,087) (1,429) (16,768) (25,424)
Ending balance 1,021,303 1,071,164 1,021,303 1,071,164
Changes in unrealized gains/ (losses) included in earnings for instruments still held 27,097 (7,342) 31,833 (28,330)
Changes in unrealized gains/ (losses) included in other comprehensive income for instruments still held $ (4,324) $ (44,940) $ 16,887 $ (3,925)