XML 62 R49.htm IDEA: XBRL DOCUMENT v3.24.3
Total Equity (Tables)
 9 Months Ended
Aug. 31, 2024
Equity [Abstract]  
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 
August 31,		Nine Months Ended 
August 31,
In thousands, except per share amounts
2024202320242023
Numerator for earnings per common share from continuing operations:
Net earnings from continuing operations$174,676 $53,947 $493,606 $191,955 
Less: Net losses attributable to noncontrolling interests(6,304)(3,772)(16,541)(13,794)
Mandatorily redeemable convertible preferred share dividends— — — (2,016)
Allocation of earnings to participating securities (1)(20,785)(6,369)(48,501)(7,344)
Net earnings from continuing operations attributable to common shareholders for basic earnings per share$160,195 $51,350 $461,646 $196,389 
Net earnings from continuing operations attributable to common shareholders for diluted earnings per share$160,195 $51,350 $461,646 $196,389 
Numerator for earnings per common share from discontinued operations:
Net earnings (losses) from discontinued operations (including loss on disposal), net of income taxes6,363 — (1,488)— 
Less: Net losses attributable to noncontrolling interests(570)— (2,561)— 
Net earnings (losses) from discontinued operations attributable to common shareholders for basic and diluted earnings per share$6,933 $— $1,073 $— 
Net earnings attributable to common shareholders for basic earnings per share$167,128 $51,350 $462,719 $196,389 
Net earnings attributable to common shareholders for diluted earnings per share$167,128 $51,350 $462,719 $196,389 
Denominator for earnings per common share:
Weighted average common shares outstanding206,418 218,411 209,997 226,265 
Weighted average shares of restricted stock outstanding with future service required(2,305)(1,793)(2,346)(1,923)
Weighted average RSUs outstanding with no future service required10,339 11,735 10,455 12,324 
Weighted average basic common shares214,452 228,353 218,106 236,666 
Stock options and other share-based awards 4,189 2,047 3,369 2,064 
Senior executive compensation plan RSU awards3,058 1,641 2,705 1,928 
Weighted average diluted common shares (2)221,699 232,041 224,180 240,658 
Earnings (losses) per common share:
Basic from continuing operations$0.75 $0.22 $2.12 $0.83 
Basic from discontinued operations0.03 — — — 
Basic$0.78 $0.22 $2.12 $0.83 
Diluted from continuing operations$0.72 $0.22 $2.06 $0.82 
Diluted from discontinued operations0.03 — — — 
Diluted$0.75 $0.22 $2.06 $0.82 
(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 26.3 million and 22.9 million, for the three and nine months ended August 31, 2024, respectively, compared with 0.7 million and 1.1 million, during the three and nine months ended August 31, 2023, respectively. Dividends paid on participating securities were not material for the three and nine months ended August 31, 2024 and August 31, 2023. 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 common share in the future. Antidilutive shares at August 31, 2024, were 12.7% and 12.5% of the weighted average common shares outstanding for the three and nine months ended August 31, 2024, respectively.
Schedule of Dividends Declared
Nine Months Ended August 31, 2024
Declaration DateRecord DatePayment DatePer Common Share Amount
January 8, 2024February 16, 2024February 27, 2024$0.30
March 27, 2024May 20, 2024May 30, 2024$0.30
June 26, 2024August 19, 2024August 30, 2024$0.35
Nine Months Ended August 31, 2023
Declaration DateRecord DatePayment DatePer Common Share Amount
January 9, 2023February 13, 2023February 24, 2023$0.30
March 28, 2023May 15, 2023May 26, 2023$0.30
June 27, 2023August 14, 2023August 25, 2023$0.30
Schedule of Accumulated Other Comprehensive Income (Loss)
$ in thousandsAugust 31,
2024		November 30,
2023
Net unrealized losses on available-for-sale securities$(2,539)$(4,595)
Net currency translation adjustments and other(144,345)(162,541)
Net unrealized losses related to instrument-specific credit risk (176,865)(181,946)
Net minimum pension liability(46,216)(46,463)
Total accumulated other comprehensive loss, net of tax$(369,965)$(395,545)
Significant amounts reclassified out of accumulated other comprehensive income (loss) to net earnings:
Three Months Ended 
August 31,		Nine Months Ended 
August 31,
$ in thousands2024202320242023
Net unrealized gains (losses) on instrument-specific credit risk at fair value (1)$150 $13 $2,783 $(151)
Amortization of defined benefit pension plan actuarial losses (2)(67)(42)(247)(588)
Total reclassifications for the period, net of income taxes$83 $(29)$2,536 $(739)
(1)Includes income tax expense of $0.1 million and $1.0 million for the three and nine months ended August 31, 2024, respectively, compared with a tax benefit of $0.1 million for the nine months ended August 31, 2023, which were reclassified to Principal transactions revenues.
(2)Includes income tax benefit of $0.1 million for the nine months ended August 31, 2024 and $0.1 million for the nine months ended August 31, 2023, which were reclassified to Compensation and benefits expenses