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v3.26.1

Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Feb. 28, 2026 | Feb. 28, 2025
Revenues |  |
Revenues | $ 2,871,265 | $ 2,472,864
Interest expense | 854,135 | 879,845
Net revenues | 2,017,130 | 1,593,019
Non-interest expenses |  |
Compensation and benefits | 1,085,890 | 841,127
Brokerage and clearing fees | 133,132 | 109,436
Underwriting costs | 31,383 | 17,846
Technology and communications | 159,858 | 139,475
Occupancy and equipment rental | 33,860 | 30,199
Business development | 75,422 | 72,291
Professional services | 76,944 | 72,466
Depreciation and amortization | 56,865 | 30,988
Cost of sales | 29,920 | 41,568
Other expenses | 121,640 | 86,558
Total non-interest expenses | 1,804,914 | 1,441,954
Earnings from continuing operations before income taxes | 212,216 | 151,065
Income tax expense | 52,870 | 14,216
Net earnings | 159,346 | 136,849
Net losses attributable to noncontrolling interests | (15,858) | (6,983)
Preferred stock dividends | 19,504 | 16,039
Net earnings attributable to common shareholders | $ 155,700 | $ 127,793
Earnings per common share |  |
Basic (in dollars per share) | $ 0.72 | $ 0.60
Diluted (in dollars per share) | $ 0.70 | $ 0.57
Weighted-average common shares outstanding |  |
Basic (in shares) | 215,707 | 214,536
Diluted (in shares) | 223,270 | 222,448
Investment banking |  |
Revenues |  |
Revenues | $ 1,018,284 | $ 729,510
Principal transactions |  |
Revenues |  |
Revenues | 487,498 | 407,230
Commissions and other fees |  |
Revenues |  |
Revenues | 367,604 | 288,300
Asset management fees and revenues |  |
Revenues |  |
Revenues | 67,362 | 85,408
Interest |  |
Revenues |  |
Revenues | 813,119 | 845,171
Other |  |
Revenues |  |
Revenues | $ 117,398 | $ 117,245

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