Long-Term Debt (Tables)

12 Months Ended

Nov. 30, 2021

Debt Disclosure [Abstract]

Summary of Long-Term Debt

The following summarizes our long-term debt carrying values (including unamortized discounts and premiums, valuation adjustments and debt issuance costs, where applicable) (in thousands):

		Effective Interest Rate	November 30,
	Maturity		2021		2020
Unsecured long-term debt
2.250% Euro Medium Term Notes	July 13, 2022	—%	$	—	$	4,638
5.125% Senior Notes	January 20, 2023	—%	—		759,901
1.000% Euro Medium Term Notes	July 19, 2024	1.00%	564,985		595,700
4.850% Senior Notes (1)	January 15, 2027	4.93%	775,550		809,039
6.450% Senior Debentures	June 8, 2027	5.46%	366,556		369,057
4.150% Senior Notes	January 23, 2030	4.26%	990,525		989,574
2.750% Senior Notes (1)	October 15, 2032	2.85%	460,724		485,134
6.250% Senior Debentures	January 15, 2036	6.03%	505,267		510,834
6.500% Senior Notes	January 20, 2043	6.09%	409,926		419,826
2.625% Senior Notes	October 15, 2031	2.73%	988,059		—
Floating Rate Senior Notes	October 29, 2071	—%	61,703		—
Unsecured Revolving Credit Facility	August 3, 2023	1.63%	348,951		—
Structured notes (2)(3)	Various	Various	1,843,598		1,712,245
Total unsecured long-term debt			7,315,844		6,655,948
Secured long-term debt
Revolving Credit Facility			248,982		189,732
Secured Credit Facility			375,000		—
Secured Bank Loan			100,000		50,000
Total long-term debt (4)			$	8,039,826	$	6,895,680

(1)The carrying values of these senior notes include a net gain of $58.5 million and a net loss $36.7 million during 2021 and 2020, respectively, associated with interest rate swaps based on designation as fair value hedges. See Note 2, Summary of Significant Accounting Policies, and Note 5, Derivative Financial Instruments, for further information.

(2)These structured notes contain various interest rate payment terms and are accounted for at fair value, with changes in fair value resulting from a change in the instrument-specific credit risk presented in other comprehensive income and changes in fair value resulting from non-credit components recognized in Principal transactions revenues. A weighted average coupon rate is not meaningful, as all of the structured notes are carried at fair value.

(3)Of the $1.84 billion of structured notes at November 30, 2021, $12.0 million matures in 2022, $2.8 million matures in 2023, $3.9 million matures in 2024, $30.7 million matures in 2025, $35.5 million matures in 2026, and the remaining $1.76 billion matures in 2027 or thereafter.

(4)The Total Long-term debt has a fair value of $8.64 billion and $7.58 billion at November 30, 2021 and 2020, respectively, which would be classified as Level 2 and Level 3 in the fair value hierarchy.