Variable Interest Entities (Tables)

12 Months Ended

Nov. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Assets and Liabilities of Consolidated VIEs Prior to Consolidation

The following table presents information about our consolidated VIEs at November 30, 2019 and 2018 (in millions). The assets and liabilities in the tables below are presented prior to consolidation and thus a portion of these assets and liabilities are eliminated in consolidation.

	November 30,
	2019				2018
	Secured Funding Vehicles		Other		Secured Funding Vehicles		Other
Cash	$	—	$	1.2	$	—	$	1.1
Financial instruments owned	—		0.3		—		0.4
Securities purchased under agreements to resell (1)	2,467.3		—		883.1		—
Total assets	$	2,467.3	$	1.5	$	883.1	$	1.5
Other secured financings (2)	$	2,465.8	$	—	$	882.5	$	—
Other liabilities (3)	1.5		0.2		0.6		0.2
Total liabilities	$	2,467.3	$	0.2	$	883.1	$	0.2

(1) Securities purchased under agreements to resell represent amounts due under collateralized transactions on related consolidated entities, which are eliminated in consolidation.

(2) Approximately $1.0 million of the secured financing represent amounts held by us in inventory and are eliminated in consolidation at November 30, 2018.

(3)

Approximately $0.2 million of the other liabilities amounts represent intercompany payables and are eliminated in consolidation at both November 30, 2019 and 2018.

Variable Interests in Non-Consolidated Variable Interest Entities

The following tables present information about our variable interests in nonconsolidated VIEs (in millions):

	November 30, 2019
	Carrying Amount				Maximum Exposure to Loss		VIE Assets
	Assets		Liabilities
CLOs	$	152.6	$	0.6	$	505.3	$	7,845.0
Consumer loan and other asset-backed vehicles	358.3		—		490.6		2,354.8
Related party private equity vehicles	23.0		—		34.3		71.4
Other investment vehicles	404.1		—		411.9		6,102.7
Total	$	938.0	$	0.6	$	1,442.1	$	16,373.9

	November 30, 2018
	Carrying Amount				Maximum Exposure to Loss		VIE Assets
	Assets		Liabilities
CLOs	$	42.1	$	—	$	568.3	$	3,088.9
Consumer loan and other asset-backed vehicles	462.1		—		807.1		3,273.1
Related party private equity vehicles	35.5		—		53.5		108.3
Other investment vehicles	95.0		—		99.1		3,558.1
Total	$	634.7	$	—	$	1,528.0	$	10,028.4