Long-Term Debt (Tables)

6 Months Ended

May 31, 2019

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	May 31,   2019		November 30, 2018
Unsecured long-term debt:
8.500% Senior Notes	July 15, 2019	3.80%	$	648,382	$	699,659
2.375% Euro Medium Term Notes	May 20, 2020	2.42%	557,926		564,702
6.875% Senior Notes	April 15, 2021	4.40%	783,370		791,814
2.250% Euro Medium Term Notes	July 13, 2022	4.08%	4,225		4,243
5.125% Senior Notes	January 20, 2023	4.55%	611,492		612,928
4.850% Senior Notes (1)	January 15, 2027	4.93%	753,509		709,484
6.450% Senior Debentures	June 8, 2027	5.46%	372,563		373,669
4.150% Senior Notes	January 23, 2030	4.26%	988,220		987,788
6.250% Senior Debentures	January 15, 2036	6.03%	511,464		511,662
6.500% Senior Notes	January 20, 2043	6.09%	420,435		420,625
Structured notes (2)	Various	Various	819,509		686,170
Total unsecured long-term debt			6,471,095		6,362,744
Secured long-term debt:
Revolving Credit Facility			188,817		183,539
Total long-term debt (3)			$	6,659,912	$	6,546,283

(1) These senior notes with a principal amount of $750.0 million were issued on January 17, 2017. The carrying value includes a loss of $43.8 million and a gain of $22.8 million in the six months ended May 31, 2019 and 2018, 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) 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 transactions revenues. A weighted average coupon rate is not meaningful, as all of the structured notes are carried at fair value.

(3)

The total Long-term debt has a fair value of $6,719.9 million and $6,423.6 million at May 31, 2019 and November 30, 2018, respectively, which would be classified as Level 2 and Level 3 in the fair value hierarchy.