Long-Term Debt (Tables)

3 Months Ended

Feb. 28, 2018

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	February 28,   2018		November 30, 2017
Unsecured long-term debt
5.125% Senior Notes	April 13, 2018	2.93%	$	669,586	$	682,338
8.500% Senior Notes	July 15, 2019	4.00%	721,677		728,872
2.375% Euro Medium Term Notes	May 20, 2020	2.42%	608,789		593,334
6.875% Senior Notes	April 15, 2021	4.40%	804,138		808,157
2.250% Euro Medium Term Notes	July 13, 2022	4.08%	4,521		4,389
5.125% Senior Notes	January 20, 2023	4.55%	615,021		615,703
4.850% Senior Notes (1)	January 15, 2027	4.93%	713,762		736,357
6.450% Senior Debentures	June 8, 2027	5.46%	375,274		375,794
3.875% Convertible Senior Debentures (2)	November 1, 2029	—%	—		324,779
4.150% Senior Notes	January 23, 2030	4.26%	987,157		—
6.250% Senior Debentures	January 15, 2036	6.03%	511,947		512,040
6.500% Senior Notes	January 20, 2043	6.09%	420,901		420,990
Structured notes (3)	Various	Various	742,777		614,091
Total long-term debt			$	7,175,550	$	6,416,844

(1) These senior notes with a principal amount of $750.0 million were issued on January 17, 2017. The carrying value includes decreases of $22.7 million and $5.4 million in the three months ended February 28, 2018 and 2017, respectively, associated with an interest rate swap based on its designation as a fair value hedge. See 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 months ended February 28, 2017.

(3) The carrying value includes $735.5 million and $607.0 million of notes carried at fair value at February 28, 2018 and November 30, 2017, 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.