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Goodwill and Intangible Assets
 3 Months Ended
Feb. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill attributed to our reportable business segments are as follows (in thousands):
 
February 29, 2020
 
November 30, 2019
Investment Banking and Capital Markets
$
1,639,521

 
$
1,640,201

Asset Management
3,393

 
3,398

Total goodwill
$
1,642,914

 
$
1,643,599

The following table is a summary of the changes to goodwill for the three months ended February 29, 2020 (in thousands):
Balance at November 30, 2019
$
1,643,599

Translation adjustments
(685
)
Balance at February 29, 2020
$
1,642,914


Intangible Assets
Intangible assets are included in Other assets in our Consolidated Statements of Financial Condition. The following tables present the gross carrying amount, changes in carrying amount, net carrying amount and weighted average amortization period of identifiable intangible assets at February 29, 2020 and November 30, 2019 (dollars in thousands):
 
February 29, 2020
 
Weighted average remaining lives (years)
 
Gross cost
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships
$
125,604

 
$
(69,246
)
 
$
56,358

 
9.8
Trade name
128,411

 
(25,682
)
 
102,729

 
28.0
Exchange and clearing organization membership interests and registrations
8,269

 
—

 
8,269

 
N/A
Total
$
262,284

 
$
(94,928
)
 
$
167,356

 
 
 
November 30, 2019
 
Weighted average remaining lives (years)
 
Gross cost
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships
$
125,736

 
$
(67,257
)
 
$
58,479

 
9.9
Trade name
128,590

 
(24,800
)
 
103,790

 
28.3
Exchange and clearing organization membership interests and registrations
8,273

 
—

 
8,273

 
N/A
Total
$
262,599

 
$
(92,057
)
 
$
170,542

 
 

Amortization Expense
For finite life intangible assets, aggregate amortization expense amounted to $3.0 million for both the three months ended February 29, 2020 and February 28, 2019. These expenses are included in Other expenses in our Consolidated Statements of Earnings.
The estimated future amortization expense for the five succeeding fiscal years is as follows (in thousands):
Remainder of fiscal 2020
$
9,148

Year ending November 30, 2021
12,198

Year ending November 30, 2022
9,256

Year ending November 30, 2023
8,268

Year ending November 30, 2024
8,266