XML 60 R48.htm IDEA: XBRL DOCUMENT v3.21.1
Fair Value Disclosures - Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Feb. 28, 2021
Nov. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Alternative investment $ 1,017,822 $ 955,984
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 17,553,054 16,730,068
Counterparty and Cash Collateral Netting (2,604,607) (1,556,136)
Securities received as collateral 0 7,517
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 12,361,542 10,017,522
Counterparty and Cash Collateral Netting (2,997,103) (1,798,659)
Short-term borrowings 0 5,067
Other secured financings 2,168 1,543
Obligation to return securities received as collateral, at fair value 0 7,517
Long-term debt 1,784,157 1,712,245
Corporate equity securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 2,829,205 2,465,396
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,130,512 2,059,921
Corporate debt securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 3,458,605 2,977,347
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,826,029 1,237,772
Collateralized debt obligations and collateralized loan obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 117,548 74,668
U.S. government and federal agency securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 2,559,363 2,931,678
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,618,198 2,609,660
Municipal securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 292,604 453,881
Sovereign obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 2,468,214 2,553,688
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,360,608 1,675,511
Residential mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 1,902,515 1,122,675
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased   477
Commercial mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 39,684 738,294
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 35 35
Other asset-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 124,550 183,606
Loans and other receivables    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 3,178,972 2,687,788
Derivative assets    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 529,923 467,817
Investments at fair value    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 51,871 73,230
Loans    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,341,222 1,793,081
Derivative liabilities    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,084,938 641,065
Fair value based on net asset value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Alternative investment 1,017,800 956,000
Level 1    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 6,846,005 7,135,334
Securities received as collateral   7,517
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 6,089,285 5,707,423
Short-term borrowings   0
Other secured financings 0 0
Obligation to return securities received as collateral, at fair value   7,517
Long-term debt 0 0
Level 1 | Corporate equity securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 2,687,871 2,331,440
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,124,994 2,046,441
Level 1 | Corporate debt securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 1 | Collateralized debt obligations and collateralized loan obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Level 1 | U.S. government and federal agency securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 2,485,813 2,840,025
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,618,198 2,609,660
Level 1 | Municipal securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Level 1 | Sovereign obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 1,668,975 1,962,346
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,343,920 1,050,771
Level 1 | Residential mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased   0
Level 1 | Commercial mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 1 | Other asset-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Level 1 | Loans and other receivables    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Level 1 | Derivative assets    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 3,346 1,523
Level 1 | Investments at fair value    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Level 1 | Loans    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 1 | Derivative liabilities    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,173 551
Level 2    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 12,946,792 10,771,762
Securities received as collateral   0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 8,903,492 6,039,818
Short-term borrowings   5,067
Other secured financings 0 0
Obligation to return securities received as collateral, at fair value   0
Long-term debt 1,061,042 1,036,217
Level 2 | Corporate equity securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 58,056 58,159
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,075 9,046
Level 2 | Corporate debt securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 3,451,794 2,954,201
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,824,458 1,237,631
Level 2 | Collateralized debt obligations and collateralized loan obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 91,654 64,155
Level 2 | U.S. government and federal agency securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 73,550 91,653
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 2 | Municipal securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 292,604 453,881
Level 2 | Sovereign obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 799,239 591,342
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,016,688 624,740
Level 2 | Residential mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 1,880,823 1,100,849
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased   477
Level 2 | Commercial mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 37,013 736,291
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 2 | Other asset-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 63,956 103,611
Level 2 | Loans and other receivables    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 3,099,917 2,610,746
Level 2 | Derivative assets    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 3,091,787 2,000,752
Level 2 | Investments at fair value    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 6,399 6,122
Level 2 | Loans    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 2,326,306 1,776,446
Level 2 | Derivative liabilities    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 3,734,965 2,391,478
Level 3    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 364,864 379,108
Securities received as collateral   0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 365,868 68,940
Short-term borrowings   0
Other secured financings 2,168 1,543
Obligation to return securities received as collateral, at fair value   0
Long-term debt 723,115 676,028
Level 3 | Corporate equity securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 83,278 75,797
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 4,443 4,434
Level 3 | Corporate debt securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 6,811 23,146
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 1,571 141
Level 3 | Collateralized debt obligations and collateralized loan obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 25,894 10,513
Level 3 | U.S. government and federal agency securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 3 | Municipal securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Level 3 | Sovereign obligations    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 0 0
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 0 0
Level 3 | Residential mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 21,692 21,826
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased   0
Level 3 | Commercial mortgage-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 2,671 2,003
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 35 35
Level 3 | Other asset-backed securities    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 60,594 79,995
Level 3 | Loans and other receivables    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 79,055 77,042
Level 3 | Derivative assets    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 39,397 21,678
Level 3 | Investments at fair value    
Financial instruments owned:    
Total financial instruments owned, excluding Investments at fair value based on NAV 45,472 67,108
Level 3 | Loans    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased 14,916 16,635
Level 3 | Derivative liabilities    
Financial instruments sold, not yet purchased:    
Total financial instruments sold, not yet purchased $ 344,903 $ 47,695