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Income Taxes | 6 Months Ended
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May 31, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Note 18. Income Taxes At May 31, 2025 and November 30, 2024, our total gross unrecognized tax benefits were $325.3 million and $346.4 million, respectively. At May 31, 2025 and November 30, 2024, we had interest accrued of $183.1 million and $176.6 million, respectively, included in Accrued expenses and other liabilities. The total amount of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate was $257.0 million and $273.8 million (net of Federal benefit) at May 31, 2025 and November 30, 2024, respectively. We recognize interest and penalties, if any, related to unrecognized tax benefits in income tax expense. We are currently under examination by a number of taxing jurisdictions. Though we do not expect that resolution of these examinations will have a material effect on our consolidated financial position, they may have a material impact on our consolidated results of operations for the period in which resolution occurs. Earliest tax years that remain subject to examination in the major tax jurisdictions in which we operate:
Jurisdiction | Tax Year
United States ........................................................................................... | 2021
New York State ........................................................................................ | 2001
New York City .......................................................................................... | 2006
United Kingdom ....................................................................................... | 2022
Germany ................................................................................................... | 2019
Hong Kong ............................................................................................... | 2019
India ........................................................................................................... | 2010
| Three Months Ended May 31, | Six Months Ended May 31,
$ in millions | 2025 | 2024 | 2025 | 2024
Income tax expense .............. | $43.5 | $73.1 | $57.7 | $129.1
Effective tax rate .................... | 32.3% | 32.1% | 20.2% | 28.8%

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