XML 42 R29.htm IDEA: XBRL DOCUMENT v3.25.2
Income Taxes
 9 Months Ended
Aug. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Note 18. Income Taxes
At August 31, 2025 and November 30, 2024, our total gross
unrecognized tax benefits were $324.1 million and
$346.4 million, respectively.
At August 31, 2025 and November 30, 2024, we had interest
accrued of $186.8 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 $256.1 million
and $273.8 million (net of Federal benefit) at August 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
August 31,
Nine Months Ended
August 31,
$ in millions
2025
2024
2025
2024
Income tax expense ..............
$89.3
$78.0
$147.0
$207.1
Effective tax rate ....................
26.9%
30.9%
23.8%
29.6%