Long-Term Debt (Tables)

9 Months Ended

Aug. 31, 2017

Debt Disclosure [Abstract]

Summary of Long-Term Debt Carrying Values Including Unamortized Discounts and Premiums

The following summarizes our long-term debt carrying values (including unamortized discounts and premiums, valuation adjustments and debt issuance costs, where applicable) (in thousands):

	Maturity	Effective Interest Rate	August 31,   2017		November 30, 2016
Unsecured long-term debt
5.125% Senior Notes	April 13, 2018	3.46%	$	714,115	$	817,813
8.500% Senior Notes	July 15, 2019	4.00%	739,465		778,367
2.375% Euro Medium Term Notes	May 20, 2020	2.42%	593,547		528,250
6.875% Senior Notes	April 15, 2021	4.40%	812,131		823,797
2.250% Euro Medium Term Notes	July 13, 2022	4.08%	4,374		3,848
5.125% Senior Notes	January 20, 2023	4.55%	616,378		618,355
4.850% Senior Notes (1)	January 15, 2027	4.93%	753,932		—
6.450% Senior Debentures	June 8, 2027	5.46%	376,307		377,806
3.875% Convertible Senior Debentures (2)	November 1, 2029	3.50%	345,217		346,187
6.250% Senior Debentures	January 15, 2036	6.03%	512,131		512,396
6.500% Senior Notes	January 20, 2043	6.09%	421,078		421,333
Structured notes (3)	Various	Various	561,010		255,203
Total long-term debt			$	6,449,685	$	5,483,355

(1) These senior notes with a principal amount of $750.0 million were issued on January 17, 2017. The carrying value includes $9.6 million associated with an interest rate swap based on its designation as a fair value hedge. See Note 2, Summary of Significant Accounting Policies, and Note 5, Derivative Financial Instruments, for further information.

(2) The change in fair value of the conversion feature embedded in the debentures, which is included in Principal transaction revenues in our Consolidated Statements of Earnings, was not material for the three and nine months ended August 31, 2017 and August 31, 2016.

(3)

The carrying value includes $553.9 million and $248.9 million of notes carried at fair value at August 31, 2017 and November 30, 2016, respectively. These structured notes contain various interest rate payment terms and are accounted for at fair value, with changes in fair value resulting from a change in the instrument-specific credit risk presented in other comprehensive income and changes in fair value resulting from non-credit components recognized in Principal transaction revenues. A weighted average coupon rate is not meaningful, as substantially all of the structured notes are carried at fair value.