Segment Reporting (Tables)

6 Months Ended

May 31, 2020

Segment Reporting [Abstract]

Schedule of Net Revenues, Expenses and Total Assets by Segment

Our net revenues, non-interest expenses and earnings (loss) before income taxes by reportable business segment are summarized below (in millions):

	Three Months Ended   May 31,					Six Months Ended   May 31,
	2020			2019		2020			2019
Investment Banking and Capital Markets:
Net revenues	$	1,028.9		$	859.3	$	2,177.7		$	1,517.5
Non-interest expenses	814.3			716.8		1,713.3			1,319.9
Earnings before income taxes	$	214.6		$	142.5	$	464.4		$	197.6
Asset Management:
Net revenues	$	5.5		$	42.6	$	27.4		$	70.1
Non-interest expenses	47.2			30.0		83.6			50.0
Earnings (loss) before income taxes	$	(41.7	)	$	12.6	$	(56.2	)	$	20.1
Total:
Net revenues	$	1,034.4		$	901.9	$	2,205.1		$	1,587.6
Non-interest expenses	861.5			746.8		1,796.9			1,369.9
Earnings before income taxes	$	172.9		$	155.1	$	408.2		$	217.7

The following table summarizes our total assets by reportable business segment (in millions):

	May 31, 2020		November 30, 2019
Investment Banking and Capital Markets	$	42,152.5	$	40,565.8
Asset Management	2,931.9		2,950.3
Total assets	$	45,084.4	$	43,516.1

Summary Net Revenues by Geographic Region

Net revenues by geographic region were as follows (in millions):

	Three Months Ended   May 31,				Six Months Ended   May 31,
	2020		2019		2020		2019
Americas (1)	$	754.3	$	749.4	$	1,704.4	$	1,258.0
Europe (2)	189.6		125.2		348.9		276.7
Asia	90.5		27.3		151.8		52.9
Net revenues	$	1,034.4	$	901.9	$	2,205.1	$	1,587.6

(1) Substantially all relates to U.S. results.

(2)

Substantially all relates to U.K. results.