Intangible Assets, Net and Goodwill (Tables)

12 Months Ended

Nov. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets and goodwill

A summary of intangible assets, net and goodwill is as follows (in thousands):

	November 30, 2019		November 30, 2018
Indefinite lived intangibles:
Exchange and clearing organization membership interests and registrations	$	8,273	$	8,524
Amortizable intangibles:
Customer and other relationships, net of accumulated amortization of $111,060 and $102,579	59,575		67,894
Trademarks and tradename, net of accumulated amortization of $24,800 and $21,086	103,790		107,262
Other, net of accumulated amortization of $5,366 and $4,339 (1)	11,316		4,611
Total intangible assets, net	182,954		188,291
Goodwill:
Jefferies Group (2)	1,699,810		1,698,381
Real estate (1)	36,711		—
Other operations	3,459		3,459
Total goodwill	1,739,980		1,701,840
Total intangible assets, net and goodwill	$	1,922,934	$	1,890,131

(1) In connection with the acquisition of the remaining interest in HomeFed, $11.0 million was allocated to intangible assets, primarily relating to lease contracts, and $4.3 million was allocated to goodwill. In addition, associated with the acquisition, we also recorded $32.4 million of goodwill generated by the establishment of $32.4 million of deferred tax liabilities related to allocated value exceeding the tax basis of some of the HomeFed net assets.

(2) The increase in Jefferies Group goodwill during the twelve months ended November 30, 2019, primarily relates to translation adjustments.

Schedule of amortization expense

The estimated aggregate future amortization expense for the intangible assets for each of the next five years is as follows (in thousands): 

2020	$	14,982
2021	14,509
2022	11,215
2023	9,959
2024	8,703