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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Nov. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Year Ended November 30, 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 ..............................................
841
(3,107)
(2,266)
Measurement period adjustments (1) ........
—
(26,230)
(26,230)
Goodwill relating to acquisitions by
Tessellis ..........................................................
—
8,578
8,578
Balance, at end of period .............................
$1,533,013
$294,925
$1,827,938
(1)Includes the impact of Tessellis and Go Internet. Refer to Note 4, Business
Acquisitions for further information.
Year Ended November 30, 2023
$ in thousands
Investment
Banking and
Capital
Markets
Asset
Management
Total
Balance, at beginning of period ...................
$1,552,944
$183,170
$1,736,114
Currency translation and other
adjustments ..............................................
3,228
—
3,228
Goodwill acquired during the period (1) .....
—
132,514
132,514
Goodwill reclassified as held for sale (2) ...
(24,000)
—
(24,000)
Balance, at end of period .............................
$1,532,172
$315,684
$1,847,856
(1)Refer to Note 4, Business Acquisitions for further discussion.
(2)Refer to Note 5, Assets Held for Sale and Discontinued Operations for further
discussion.
Carrying values of goodwill by reporting unit:
November 30,
$ in millions
2024
2023
Investment banking ...................................................................
$700.7
$700.2
Equities and wealth management ...........................................
255.4
255.3
Fixed income ..............................................................................
576.9
576.6
Asset management ...................................................................
143.0
143.0
Other investments .....................................................................
151.9
172.8
Total.............................................................................................
$1,827.9
$1,847.9
Schedule of Finite-Lived Intangible Assets
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.
November 30, 2023
Weighted
Average
Remaining
Lives
(Years)
$ in thousands
Gross
Cost
Assets
Acquired
Impairment
Losses
Accumulated
Amortization
Net
Carrying
Amount
Customer relationships
$126,449
$9,801
$—
$(93,966)
$42,284
6.3
Trademarks and trade
names ..............................
127,899
18,513
—
(39,340)
107,072
23.5
Exchange and clearing
organization
membership interests
and registrations ............
7,405
1,390
(78)
—
8,717
N/A
Other ................................
14,958
37,026
—
(13,137)
38,847
5.0
Total ................................
$276,711
$66,730
$(78)
$(146,443)
$196,920
Schedule of Indefinite-Lived Intangible Assets
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.
November 30, 2023
Weighted
Average
Remaining
Lives
(Years)
$ in thousands
Gross
Cost
Assets
Acquired
Impairment
Losses
Accumulated
Amortization
Net
Carrying
Amount
Customer relationships
$126,449
$9,801
$—
$(93,966)
$42,284
6.3
Trademarks and trade
names ..............................
127,899
18,513
—
(39,340)
107,072
23.5
Exchange and clearing
organization
membership interests
and registrations ............
7,405
1,390
(78)
—
8,717
N/A
Other ................................
14,958
37,026
—
(13,137)
38,847
5.0
Total ................................
$276,711
$66,730
$(78)
$(146,443)
$196,920
Schedule of Future Amortization Expense Related to Intangible Assets Estimated future amortization expense (in thousands):
Year ending November 30, 2025 ............................................................
$32,143
Year ending November 30, 2026 ............................................................
31,485
Year ending November 30, 2027 ............................................................
28,138
Year ending November 30, 2028 ............................................................
26,541
Year ending November 30, 2029 ............................................................
15,322