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Non-interest Expenses (Tables)
12 Months Ended
Nov. 30, 2015
Other Income and Expenses [Abstract]  
Schedule of Components of Noninterest Expense
The following table presents the components of non-interest expenses (in thousands):
 
 
 
Successor
 
 
Predecessor
 
 
Year 
 Ended 
 November 30, 
 2015
 
Year 
 Ended 
 November 30, 
 2014
 
Nine Months 
 Ended 
 November 30, 
 2013
 
 
Three Months 
 Ended 
 February 28, 
 2013
Non-interest expenses:
 
 
 
 
 
 
 
 
 
Compensation and benefits
 
$
1,467,131

 
$
1,698,530

 
$
1,213,908

 
 
$
474,217

Non-compensation expenses:
 
 
 
 
 
 
 
 
 
Floor brokerage and clearing fees
 
199,780

 
215,329

 
150,774

 
 
46,155

Technology and communications
 
313,044

 
268,212

 
193,683

 
 
59,878

Occupancy and equipment rental
 
101,138

 
107,767

 
86,701

 
 
24,309

Business development
 
105,963

 
106,984

 
63,115

 
 
24,927

Professional services
 
103,972

 
109,601

 
72,802

 
 
24,135

Bad debt provision (1)
 
(396
)
 
55,355

 
179

 
 
1,945

Goodwill impairment (2)
 

 
54,000

 

 
 

Intangible assets amortization and
    impairment (3)
 
13,487

 
20,569

 
20,784

 
 
384

Other
 
56,895

 
50,770

 
71,072

 
 
12,146

Total non-compensation
     expenses
 
893,883

 
988,587

 
659,110

 
 
193,879

Total non-interest expenses
 
$
2,361,014

 
$
2,687,117

 
$
1,873,018

 
 
$
668,096

 
(1)
During the year ended November 30, 2015, we released $4.4 million in reserves related to the resolution of bankruptcy claims against Lehman Brothers Holdings, Inc. During the fourth quarter of 2014, we recognized a bad debt provision, which primarily relates to a receivable of $52.3 million from a client to which we provided futures clearing and execution services, which declared bankruptcy.
(2)
Goodwill impairment losses of $51.9 million and $2.1 million at November 30, 2014 were recognized in the Futures and International Asset Management reporting units at November 30, 2014, respectively. (See Note 11, Goodwill and Other Intangible Assets for further information.)
(3)
The amount for the year ended November 30, 2015 includes an impairment loss of $1.3 million on certain exchange memberships based on a decline in fair value at August 1, 2015. The amount for the year ended November 30, 2014 includes impairment losses at November 30, 2014 of $7.5 million and $0.1 million in the Futures business and the International Asset Management business, respectively. (See Note 11, Goodwill and Other Intangible Assets for further information.)