Revenues from Contracts with Customers (Tables)

3 Months Ended

Feb. 29, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following presents our revenues from contracts with customers disaggregated by major business activity and primary geographic regions (in thousands):

	Three Months Ended
	February 29, 2020						February 28, 2019
	Reportable Segment						Reportable Segment
	Investment Banking and Capital Markets		Asset Management		Total		Investment Banking and Capital Markets		Asset Management		Total
Major business activity:
Equities (1)	$	176,249	$	—	$	176,249	$	152,074	$	—	$	152,074
Fixed income (1)	3,286		—		3,286		3,068		—		3,068
Investment banking - Advisory	343,158		—		343,158		180,482		—		180,482
Investment banking - Underwriting	248,844		—		248,844		105,114		—		105,114
Asset management	—		4,404		4,404		—		6,669		6,669
Total	$	771,537	$	4,404	$	775,941	$	440,738	$	6,669	$	447,407
Primary geographic region:
Americas	$	649,069	$	980	$	650,049	$	323,389	$	3,381	$	326,770
Europe	79,438		3,424		82,862		100,205		3,288		103,493
Asia	43,030		—		43,030		17,144		—		17,144
Total	$	771,537	$	4,404	$	775,941	$	440,738	$	6,669	$	447,407

(1)

Revenues from contracts with customers associated with the equities and fixed income businesses primarily represent commissions and other fee revenue.

The following table presents our total revenues separated for our revenues from contracts with customers and our other sources of revenues (in thousands):

	Three Months Ended
	February 29, 2020		February 28, 2019
Revenues from contracts with customers:
Commissions and other fees (1)	$	179,535	$	155,142
Investment banking	592,002		285,596
Asset management fees	4,404		6,669
Total revenue from contracts with customers	775,941		447,407
Other sources of revenue:
Principal transactions	371,902		234,298
Revenues from arrangements with strategic partners	7,316		362
Interest	294,668		360,975
Other	29,729		11,830
Total revenues	$	1,479,556	$	1,054,872

(1)

During the third quarter of 2019, we have reclassified the presentation of certain other fees, primarily related to prime brokerage services offered to clients. These fees were previously presented as Other revenues in our Consolidated Statements of Earnings and are now presented within Commissions and other fees. There is no impact on Total revenues as a result of this change in presentation. Previously reported results are presented on a comparable basis.