Long-Term Debt (Tables)

9 Months Ended

Aug. 31, 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	August 31,   2018		November 30, 2017
Unsecured long-term debt
5.125% Senior Notes	April 13, 2018	—%	$	—	$	682,338
8.500% Senior Notes	July 15, 2019	3.99%	707,072		728,872
2.375% Euro Medium Term Notes	May 20, 2020	2.42%	578,896		593,334
6.875% Senior Notes	April 15, 2021	4.40%	795,967		808,157
2.250% Euro Medium Term Notes	July 13, 2022	4.08%	4,332		4,389
5.125% Senior Notes	January 20, 2023	4.55%	613,634		615,703
4.850% Senior Notes (1)	January 15, 2027	4.93%	712,667		736,357
6.450% Senior Debentures	June 8, 2027	5.46%	374,211		375,794
3.875% Convertible Senior Debentures (2)	November 1, 2029	—%	—		324,779
4.150% Senior Notes	January 23, 2030	4.26%	987,576		—
6.250% Senior Debentures	January 15, 2036	6.03%	511,758		512,040
6.500% Senior Notes	January 20, 2043	6.09%	420,718		420,990
Structured notes (3)	Various	Various	709,557		614,091
Total unsecured long-term debt			6,416,388		6,416,844
Secured long-term debt
Revolving Credit Facility			158,478		—
Total long-term debt			$	6,574,866	$	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 a gain of $24.1 million and a loss of $9.6 million in the nine months ended August 31, 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 and nine months ended August 31, 2017.

(3) The carrying value includes $709.6 million and $607.0 million of notes carried at fair value at August 31, 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.