Total Equity (Tables)

3 Months Ended

Feb. 28, 2025

Schedule of Earnings Per Share Computation

The numerators and denominators used to calculate basic and diluted earnings per common share are as

follows:


	Three Months Ended
In thousands, except per share amounts	February 28, 2025	February 29, 2024
Numerator for earnings per common share from continuing operations:
Net earnings from continuing operations ................................................................................................................................	$136,849	$164,283
Less: Net losses attributable to noncontrolling interests .....................................................................................................	(6,983)	(6,452)
Allocation of earnings to participating securities (1) .............................................................................................................	(16,039)	(14,189)
Net earnings from continuing operations attributable to common shareholders for basic earnings per share ........	$127,793	$156,546
Net earnings from continuing operations attributable to common shareholders for diluted earnings per share .....	$127,793	$156,546

Numerator for earnings per common share from discontinued operations:
Net losses from discontinued operations, net of taxes.........................................................................................................	—	(7,891)
Less: Net losses attributable to noncontrolling interests .....................................................................................................	—	(986)
Net losses from discontinued operations attributable to common shareholders for basic and diluted earnings per share ..................................................................................................................................................................................	$—	$(6,905)
Net earnings attributable to common shareholders for basic earnings per share .........................................................	$127,793	$149,641
Net earnings attributable to common shareholders for diluted earnings per share .......................................................	$127,793	$149,641

Denominator for earnings per common share:
Weighted average common shares outstanding ....................................................................................................................	206,046	211,535
Weighted average shares of restricted stock outstanding with future service required ..................................................	(2,200)	(2,402)
Weighted average RSUs outstanding with no future service required ................................................................................	10,690	10,913
Weighted average basic common shares ...............................................................................................................................	214,536	220,046
Stock options and other share-based awards .......................................................................................................................	5,287	2,894
Senior executive compensation plan RSU awards .................................................................................................................	2,625	2,351
Weighted average diluted common shares (2) ......................................................................................................................	222,448	225,291

Earnings (losses) per common share:
Basic from continuing operations ............................................................................................................................................	$0.60	$0.71
Basic from discontinued operations ........................................................................................................................................	—	(0.03)
Basic .............................................................................................................................................................................................	$0.60	$0.68
Diluted from continuing operations ...........................................................................................................................................	$0.57	$0.69
Diluted from discontinued operations ......................................................................................................................................	—	(0.03)
Diluted ...........................................................................................................................................................................................	$0.57	$0.66

(1)Represents dividends declared during the period on participating securities plus an allocation of undistributed earnings to participating securities.

Net losses are not allocated to participating securities. Participating securities represent certain preferred stock, restricted stock and RSUs for

which requisite service has not yet been rendered and amounted to weighted average shares of 27.7 million for the three months ended February

28, 2025, compared with 21.2 million for the three months ended February 29, 2024. Dividends paid on participating securities were $11.1 million

for the three months ended February 28, 2025 and $6.3 million for the three months ended February 29, 2024. Undistributed earnings are allocated

to participating securities based upon their right to share in earnings if all earnings for the period had been distributed.

(2)Certain securities have been excluded as they would be antidilutive. However, these securities could potentially dilute earnings per share in the

future. Antidilutive shares at February 28, 2025 and were 13.4% of the weighted average common shares outstanding for the three months ended

February 28, 2025

Schedule of Dividends Declared

Dividends


Three Months Ended February 28, 2025
Declaration Date	Record Date	Payment Date	Per Common Share Amount
January 8, 2025	February 14, 2025	February 27, 2025	$0.40

Three Months Ended February 29, 2024
Declaration Date	Record Date	Payment Date	Per Common Share Amount
January 8, 2024	February 16, 2024	February 27, 2024	$0.30

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)


$ in thousands	February 28, 2025	November 30, 2024
Net unrealized losses on available-for-sale securities .......................................................................	$(2,281)	$(2,406)
Net currency translation adjustments and other .....	(189,876)	(173,841)
Net unrealized losses related to instrument- specific credit risk .......................................................	(176,408)	(206,664)
Net minimum pension liability ....................................	(39,507)	(40,220)
Total accumulated other comprehensive loss, net of tax ..............................................................................	$(408,072)	$(423,131)

Amounts reclassified out of accumulated other comprehensive

income (loss) to net earnings:


	Three Months Ended
$ in thousands	February 28, 2025	February 29, 2024
Net unrealized gains (losses) on instrument- specific credit risk at fair value (1) .............................	$2,538	$2,119
Amortization of defined benefit pension plan actuarial losses (2) .......................................................	(759)	(121)
Total reclassifications for the period, net of tax .....	$1,779	$1,998

(1)The amounts include income tax expense of $0.9 million and $0.7 million for

the three months ended February 28, 2025 and February 29, 2024,

respectively, which were reclassified to Principal transactions revenues.

(2)The amounts include income tax benefit of $0.2 million and $31 thousand for

three months ended February 28, 2025 and February 29, 2024, respectively,

which were reclassified to Compensation and benefits expenses.