Goodwill and Intangible Assets (Tables)

3 Months Ended

Feb. 28, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

	Three Months Ended February 28, 2025
$ in thousands	Investment Banking and Capital Markets	Asset Management	Total
Balance, at beginning of period ...................	$1,533,013	$294,925	$1,827,938
Currency translation and other adjustments ..............................................	(1,151)	(2,140)	(3,291)
Balance, at end of period .............................	$1,531,862	$292,785	$1,824,647

	Three Months Ended February 29, 2024
$ in thousands	Investment Banking and Capital Markets	Asset Management	Total
Balance, at beginning of period ...................	$1,532,172	$315,684	$1,847,856
Currency translation and other adjustments ..............................................	(231)	—	(231)
Measurement period adjustments (1) ........	—	(26,954)	(26,954)
Goodwill relating to acquisitions by Tessellis .....................................................	—	3,366	3,366
Balance, at end of period .............................	$1,531,941	$292,096	$1,824,037

(1)Refer to Note 4, Business Acquisitions for further discussion.

Carrying values of goodwill by reporting unit:

$ in millions	February 28, 2025	November 30, 2024
Investment banking .............................................................	$700.1	$700.7
Equities and wealth management .....................................	255.2	255.4
Fixed income ........................................................................	576.5	576.9
Asset management .............................................................	143.0	143.0
Other investments ...............................................................	149.8	151.9
Total ......................................................................................	$1,824.6	$1,827.9

Schedule of Finite-Lived Intangible Assets

	February 28, 2025				Weighted Average Remaining Lives (Years)
$ in thousands	Gross Cost	Assets Acquired	Accumulated Amortization	Net Carrying Amount
Customer relationships .......................	$161,576	$622	$(107,035)	$55,163	5.3
Trademarks and trade names ............	156,418	—	(49,634)	106,784	21.2
Exchange and clearing organization membership interests and registrations ..........................................	8,678	—	—	8,678	N/A
Other ......................................................	76,049	41	(33,456)	42,634	3.6
Total .......................................................	$402,721	$663	$(190,125)	$213,259

	November 30, 2024					Weighted Average Remaining Lives (Years)
$ in thousands	Gross Cost	Assets Acquired (1)	Impairment Losses	Accumulated Amortization	Net Carrying Amount
Customer relationships	$136,049	$26,450	$—	$(104,539)	$57,960	5.6
Trademarks and trade names ..............................	146,032	8,533	—	(45,412)	109,153	21.4
Exchange and clearing organization membership interests and registrations ............	8,715	—	(10)	—	8,705	N/A
Other ................................	50,930	26,316	—	(26,693)	50,553	3.9
Total ................................	$341,726	$61,299	$(10)	$(176,644)	$226,371

(1)Includes a $39.3 million measurement period adjustment recorded during the

first quarter of 2024 related to the OpNet acquisition. Refer to Note 4,

Business Acquisitions for further information.

Schedule of Indefinite-Lived Intangible Assets

	February 28, 2025				Weighted Average Remaining Lives (Years)
$ in thousands	Gross Cost	Assets Acquired	Accumulated Amortization	Net Carrying Amount
Customer relationships .......................	$161,576	$622	$(107,035)	$55,163	5.3
Trademarks and trade names ............	156,418	—	(49,634)	106,784	21.2
Exchange and clearing organization membership interests and registrations ..........................................	8,678	—	—	8,678	N/A
Other ......................................................	76,049	41	(33,456)	42,634	3.6
Total .......................................................	$402,721	$663	$(190,125)	$213,259

	November 30, 2024					Weighted Average Remaining Lives (Years)
$ in thousands	Gross Cost	Assets Acquired (1)	Impairment Losses	Accumulated Amortization	Net Carrying Amount
Customer relationships	$136,049	$26,450	$—	$(104,539)	$57,960	5.6
Trademarks and trade names ..............................	146,032	8,533	—	(45,412)	109,153	21.4
Exchange and clearing organization membership interests and registrations ............	8,715	—	(10)	—	8,705	N/A
Other ................................	50,930	26,316	—	(26,693)	50,553	3.9
Total ................................	$341,726	$61,299	$(10)	$(176,644)	$226,371

(1)Includes a $39.3 million measurement period adjustment recorded during the

first quarter of 2024 related to the OpNet acquisition. Refer to Note 4,

Business Acquisitions for further information.

Schedule of Future Amortization Expense Related to Intangible Assets

Estimated future amortization expense for the next five fiscal

years (in thousands):

Remainder of fiscal year 2025 ................................................................	$22,496
Year ending November 30, 2026 ............................................................	29,880
Year ending November 30, 2027 ............................................................	27,563
Year ending November 30, 2028 ............................................................	26,383
Year ending November 30, 2029 ............................................................	15,382