Benefit Plans (Tables)

12 Months Ended

Nov. 30, 2020

Retirement Benefits [Abstract]

Changes in Projected Benefit Obligation

The following tables summarize the changes in the projected benefit obligation, the fair value of the assets and the funded status of the plan (in thousands):

	Year Ended November 30,
	2020		2019
Change in projected benefit obligation:
Projected benefit obligation, beginning of period	$	63,222	$	54,724
Interest cost	1,801		2,303
Actuarial losses	9,874		9,606
Administrative expenses paid	(346)		(467)
Benefits paid	(1,003)		(3,444)
Settlements	(2,477)		—
Other costs	470		500
Projected benefit obligation, end of period	$	71,541	$	63,222
Change in plan assets:
Fair value of assets, beginning of period	$	56,980	$	48,176
Benefits paid	(1,003)		(3,444)
Administrative expenses paid	(346)		(467)
Actual return on plan assets	10,007		10,715
Contributions	—		2,000
Settlements	(2,477)		—
Fair value of assets, end of period	$	63,161	$	56,980
Funded status at end of period	$	(8,380)	$	(6,242)

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized in our Consolidated Statements of Financial Condition are as follows (in thousands):

	November 30,
	2020		2019
Consolidated statements of financial condition:
Accrued expenses and other liabilities	$	8,380	$	6,242
Accumulated other comprehensive income, before taxes:
Net losses	$	(10,875)	$	(8,159)

Components of Net Periodic Pension (Benefit) Cost

The following tables summarize the components of net periodic pension cost and other amounts recognized in Other comprehensive income, before taxes (in thousands):

	Year Ended November 30,
	2020		2019		2018
Components of net periodic pension cost:
Interest cost on projected benefit obligation	$	1,801	$	2,303	$	2,129
Expected return on plan assets	(3,477)		(3,008)		(3,247)
Net amortization	252		122		—
Settlement losses	376		—		365
Other costs	470		500		400
Net periodic pension cost	$	(578)	$	(83)	$	(353)

Components of Net Periodic Pension Costs and Amounts Recognized in Other Comprehensive Income

	Year Ended November 30,
	2020		2019		2018
Amounts recognized in Other comprehensive income:
Net losses arising during the period	$	3,344	$	1,899	$	655
Amortization of net loss	(252)		(122)		—
Settlements during the period	(376)		—		(365)
Total losses recognized in Other comprehensive income	$	2,716	$	1,777	$	290
Net losses/(gains) recognized in net periodic benefit cost and Other comprehensive income	$	2,138	$	1,694	$	(63)

Assumptions Used to Determine the Present Value of the Projected Benefit Obligations and Net Periodic Pension Costs

The assumptions used to determine the actuarial present value of the projected obligation and net periodic pension benefit cost are as follows:

	Year Ended November 30,
	2020		2019		2018
Discount rate used to determine benefit obligation	2.00	%	2.90	%	4.30	%
Weighted average assumptions used to determine net pension cost:
Discount rate	2.90	%	4.30	%	3.60	%
Expected long-term rate of return on plan assets	6.25	%	6.25	%	6.25	%

Expected Benefit Payments

Expected Benefit Payments - Expected benefit payments for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in thousands):

2021	$	2,207
2022	3,048
2023	4,176
2024	4,758
2025	4,422
2026 through 2030	24,755