XML 35 R22.htm IDEA: XBRL DOCUMENT
v3.26.1

Goodwill and Intangible Assets | 3 Months Ended
--- | ---
Feb. 28, 2026
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 12. Goodwill and Intangible Assets Goodwill
| Three Months Ended February 28, 2026
$ in thousands | Investment Banking and Capital Markets | Asset Management | Total
Balance, at beginning of period ................... | $1,535,961 | $301,609 | $1,837,570
Currency translation and other adjustments .............................................. | 1,281 | 2,115 | 3,396
Impairment (1) ................................................ | — | (58,240) | (58,240)
Reclassification to held for sale (1) ............ | — | (56,850) | (56,850)
Balance, at end of period ............................. | $1,537,242 | $188,634 | $1,725,876
(1)Following the acceptance of a binding offer for Tessellis during the first quarter of 2026, we recorded a $58.2 million goodwill impairment charge. The remaining goodwill balance was reclassified as held for sale at February 28, 2026. See Note 4, Assets and Liabilities Held for Sale.
| Three Months Ended February 28, 2025
$ in thousands | Investment Banking and Capital Markets | Asset Management | Total
Balance, at beginning of period ................... | $1,533,013 | $294,925 | $1,827,938
Currency translation and other adjustments .............................................. | (1,151) | (2,140) | (3,291)
Balance, at end of period ............................. | $1,531,862 | $292,785 | $1,824,647
Carrying values of goodwill by reporting unit:
$ in millions | February 28, 2026 | November 30, 2025
Investment banking .............................................................. | $702.6 | $702.0
Equities and wealth management ...................................... | 256.1 | 255.9
Fixed income ......................................................................... | 578.5 | 578.0
Asset management .............................................................. | 143.0 | 143.0
Other investments ................................................................. | 45.7 | 158.7
Total ........................................................................................ | $1,725.9 | $1,837.6
Intangible Assets
| February 28, 2026 | Weighted Average Remaining Lives (Years)
$ in thousands | Gross Cost | Accumulated Amortization | Net Carrying Amount
Customer relationships (1) ........................................ | $127,693 | $(104,980) | $22,713 | 5.0
Trademarks and trade names (1) ............................. | 128,981 | (47,963) | 81,018 | 22.0
Exchange and clearing organization membership interests and registrations ........................................ | 8,735 | — | 8,735 | N/A
Other (1) ....................................................................... | 15,128 | (14,374) | 754 | 2.5
Total .............................................................................. | $280,537 | $(167,317) | $113,220 |
| November 30, 2025 | Weighted Average Remaining Lives (Years)
$ in thousands | Gross Cost | Assets Acquired | Accumulated Amortization | Net Carrying Amount
Customer relationships .......................... | $166,328 | $622 | $(116,810) | $50,140 | 4.6
Trademarks and trade names ................ | 160,674 | — | (55,948) | 104,726 | 20.6
Exchange and clearing organization membership interests and registrations .............................................. | 8,717 | — | — | 8,717 | N/A
Other ........................................................... | 86,815 | 99 | (47,920) | 38,994 | 2.8
Total ........................................................... | $422,534 | $721 | $(220,678) | $202,577 |
(1)Following the acceptance of a binding offer for Tessellis during the first quarter of 2026, the remaining intangible asset balance of $82.7 million was reclassified as held for sale at February 28, 2026. See Note 4, Assets and Liabilities Held for Sale. Amortization Expense For finite life intangible assets, we recognized aggregate amortization expense of $8.5 million and $7.8 million for the three months ended February 28, 2026 and 2025, respectively. These expenses are included in Depreciation and amortization. Estimated future amortization expense for the next five fiscal years:
Year | $ in thousands
Remainder of fiscal year 2026 ............................................................ | $6,535
Year ending November 30, 2027 ........................................................ | 8,685
Year ending November 30, 2028 ........................................................ | 8,567
Year ending November 30, 2029 ........................................................ | 8,380
Year ending November 30, 2030 ........................................................ | 8,322

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration