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Total Equity (Tables) | 9 Months Ended
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Aug. 31, 2025
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 | 2025 | 2024 | 2025 | 2024
Numerator for earnings per common share from continuing operations: |  |  |  |
Net earnings from continuing operations ........................................................................................... | $242,504 | $174,676 | $470,748 | $493,606
Less: Net losses attributable to noncontrolling interests ................................................................. | (10,041) | (6,304) | (24,692) | (16,541)
Allocation of earnings to participating securities (1) ........................................................................ | (28,559) | (20,785) | (55,528) | (48,501)
Net earnings from continuing operations attributable to common shareholders for basic earnings per share ............................................................................................................................. | $223,986 | $160,195 | $439,912 | $461,646
Net earnings from continuing operations attributable to common shareholders for diluted earnings per share ............................................................................................................................. | $223,986 | $160,195 | $439,912 | $461,646
Numerator for earnings per common share from discontinued operations: |  |  |  |
Net earnings (losses) from discontinued operations, net of taxes ................................................. | — | 6,363 | — | (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 ..................... | $223,986 | $167,128 | $439,912 | $462,719
Net earnings attributable to common shareholders for diluted earnings per share .................. | $223,986 | $167,128 | $439,912 | $462,719
Denominator for earnings per common share: |  |  |  |
Weighted average common shares outstanding ............................................................................... | 206,272 | 206,418 | 206,191 | 209,997
Weighted average shares of restricted stock outstanding with future service required ............. | (2,224) | (2,305) | (2,259) | (2,346)
Weighted average RSUs outstanding with no future service required ............................................ | 11,245 | 10,339 | 11,045 | 10,455
Weighted average basic common shares .......................................................................................... | 215,293 | 214,452 | 214,977 | 218,106
Stock options and other share-based awards ................................................................................... | 4,643 | 4,189 | 4,915 | 3,369
Senior executive compensation plan RSU awards ............................................................................ | 2,779 | 3,058 | 2,647 | 2,705
Weighted average diluted common shares (2) ................................................................................. | 222,715 | 221,699 | 222,539 | 224,180
Earnings per common share: |  |  |  |
Basic from continuing operations ........................................................................................................ | $1.04 | $0.75 | $2.05 | $2.12
Basic from discontinued operations .................................................................................................... | — | 0.03 | — | —
Basic ......................................................................................................................................................... | $1.04 | $0.78 | $2.05 | $2.12
Diluted from continuing operations ...................................................................................................... | $1.01 | $0.72 | $1.98 | $2.06
Diluted from discontinued operations .................................................................................................. | — | 0.03 | — | —
Diluted ...................................................................................................................................................... | $1.01 | $0.75 | $1.98 | $2.06
(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 27.6 million for both the three and nine months ended August 31, 2025, respectively, compared with 26.3 million and 22.9 million for the three and nine months ended August 31, 2024, respectively. 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 August 31, 2025 and was 13.4% of the weighted average common shares outstanding for both the three and nine months ended August 31, 2025
Schedule of Dividends Declared | Dividends
Nine Months Ended August 31, 2025
Declaration Date | Record Date | Payment Date | Per Common Share Amount
January 8, 2025 | February 14, 2025 | February 27, 2025 | $0.40
March 26, 2025 | May 19, 2025 | May 29, 2025 | $0.40
June 25, 2025 | August 18, 2025 | August 29, 2025 | $0.40
Nine Months Ended August 31, 2024
Declaration Date | Record Date | Payment Date | Per Common Share Amount
January 8, 2024 | February 16, 2024 | February 27, 2024 | $0.30
March 27, 2024 | May 20, 2024 | May 30, 2024 | $0.30
June 26, 2024 | August 19, 2024 | August 30, 2024 | $0.35
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss)
$ in thousands | August 31, 2025 | November 30, 2024
Net unrealized losses on available-for-sale securities ....................................................................... | $(2,145) | $(2,406)
Net currency translation adjustments and other ..... | (134,748) | (173,841)
Net unrealized losses related to instrument- specific credit risk ....................................................... | (198,719) | (206,664)
Net minimum pension liability .................................... | (39,315) | (40,220)
Total accumulated other comprehensive loss, net of tax .............................................................................. | $(374,927) | $(423,131)
Amounts reclassified out of accumulated other comprehensive income (loss) to net earnings:
| Three Months Ended August 31, | Nine Months Ended August 31,
$ in thousands | 2025 | 2024 | 2025 | 2024
Net unrealized gains on instrument- specific credit risk at fair value (1) ............ | $2,304 | $150 | $9,962 | $2,783
Amortization of defined benefit pension plan actuarial losses (2) .............................. | (124) | (67) | (950) | (247)
Total reclassifications for the period, net of tax ....................................................... | $2,180 | $83 | $9,012 | $2,536
(1)The amounts include income tax expense of $0.8 million and $3.4 million for the three and nine months ended August 31, 2025, respectively, compared with income tax expense of $0.1 million and $1.0 million for the three and nine months ended August 31, 2024, respectively, which were reclassified to Principal transactions revenues. (2)The amounts include income tax benefit of $0.3 million for nine months ended August 31, 2025, compared with an income tax benefit of $0.1 million for the nine months ended August 31, 2024, which were reclassified to Compensation and benefits expenses.

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