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Assets Held for Sale and Discontinued Operations | 6 Months Ended
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May 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale and Discontinued Operations | Note 5. Assets Held for Sale and Discontinued Operations Foursight During the second quarter of 2024, we closed the sale of Foursight and recognized a gain on sale of $24.2 million, which is included within Other revenues. OpNet In February 2024, we agreed to sell substantially all of OpNet’s wholesale operating assets. The sale closed in August 2024 and we recognized a pre-tax gain on sale of $3.5 million. For the year ended November 30, 2024, the activities of OpNet’s wholesale operations have been classified as discontinued operations and OpNet’s results are presented in Net losses from discontinued operations, net of income tax benefit. Airplanes During 2024, we classified certain airplanes related to a sale leaseback transaction executed by our subsidiary, Aircadia Leasing II LLC as held for sale. Effective with the designation of the airplanes as held for sale, we suspended recording depreciation on these assets. The airplanes are included within Assets held for sale on our Consolidated Statements of Financial C ondition and had a carrying amount of $51.9 million at November 30, 2024. During the second quarter of 2025, w e agreed to sell the airplanes and we recognized a loss of $12.8 million during the three months ended May 31, 2025. The sale is expected to close in the third quarter of 2025.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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