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Leases (Tables)
 9 Months Ended
Aug. 31, 2020
Leases [Abstract]  
Lease Costs Information related to operating leases in the Consolidated Statement of Financial Condition at August 31, 2020 is as follows (in thousands, except lease term and discount rate):
Property, equipment and leasehold improvements, net - ROU assets$521,278 
Weighted average:
  Remaining lease term (in years)10.8 years
  Discount rate2.9 %
The following table presents our lease costs (in thousands):
For the Three Months Ended August 31, 2020For the Nine Months Ended August 31, 2020
Operating lease costs (1)$19,425 $57,994 
Variable lease costs (2)3,485 9,561 
Less: Sublease income(1,973)(5,669)
Total lease cost, net$20,937 $61,886 

(1)    Includes short-term leases, which are not material.
(2)    Includes property taxes, insurance costs, common area maintenance, utilities, and other costs that are not fixed. The amount also includes rent increases resulting from inflation indices and periodic market rent reviews.

Consolidated Statement of Cash Flows supplemental information is as follows (in thousands):
For the Nine Months Ended August 31, 2020
Cash outflows - lease liabilities$59,155 
Non-cash - ROU assets recorded for new and modified leases$21,438 
Maturity of Operating Lease Liability
The following table presents the maturities of our operating lease liabilities and a reconciliation to the Lease liabilities included in the Consolidated Statement of Financial Condition at August 31, 2020 (in thousands):
Lease Liabilities
Remainder of 2020$22,271 
202176,932 
202274,722 
202365,220 
202461,994 
2025 and thereafter403,809 
  Total undiscounted cash flows704,948 
Less: Difference between undiscounted and discounted cash flows(106,832)
Operating leases amount in the Consolidated Statement of Financial Condition598,116 
Finance leases amount in the Consolidated Statement of Financial Condition247 
  Total amount in the Consolidated Statement of Financial Condition$598,363 
Schedule of Future Minimum Rental Payments for Operating Leases At November 30, 2019, future minimum annual lease payments under such leases (net of sublease income) were as follows (in thousands):
2020$70,886 
202173,374 
202271,464 
202362,552 
202459,714 
Thereafter393,995 
731,985 
Less: sublease income(21,883)
$710,102