Long-Term Debt (Tables)

12 Months Ended

Nov. 30, 2019

Debt Disclosure [Abstract]

Summary of Long-Term Debt

The following summarizes our long-term debt carrying values (including unamortized discounts and premiums, valuation adjustments and debt issuance costs, where applicable) (in thousands):

		Effective Interest Rate	November 30,
	Maturity		2019		2018
Unsecured long-term debt
8.500% Senior Notes	July 15, 2019	—%	$	—	$	699,659
2.375% Euro Medium Term Notes	May 20, 2020	2.42%	550,622		564,702
6.875% Senior Notes	April 15, 2021	4.40%	774,738		791,814
2.250% Euro Medium Term Notes	July 13, 2022	4.08%	4,204		4,243
5.125% Senior Notes	January 20, 2023	4.55%	610,023		612,928
1.000% Euro Medium Term Notes	July 19, 2024	1.00%	548,880		—
4.850% Senior Notes (1)	January 15, 2027	4.93%	768,931		709,484
6.450% Senior Debentures	June 8, 2027	5.46%	371,426		373,669
4.150% Senior Notes	January 23, 2030	4.26%	988,662		987,788
6.250% Senior Debentures	January 15, 2036	6.03%	511,260		511,662
6.500% Senior Notes	January 20, 2043	6.09%	420,239		420,625
Structured notes (2) (3)	Various	Various	1,215,285		686,170
Total unsecured long-term debt			6,764,270		6,362,744
Secured long-term debt
Revolving Credit Facility			189,088		183,539
Secured Bank Loan	September 27, 2021		50,000		—
Total long-term debt (4)			$	7,003,358	$	6,546,283

(1) These senior notes with a principal amount of $750.0 million were issued on January 17, 2017. The carrying value includes a loss of $58.9 million and a gain of $27.4 million during 2019 and 2018, respectively, associated with an interest rate swap based on its designation as a fair value hedge. See Note 2, Summary of Significant Accounting Policies, and Note 5, Derivative Financial Instruments, for further information.

(2) These structured notes contain various interest rate payment terms and are accounted for at fair value, with changes in fair value resulting from a change in the instrument-specific credit risk presented in other comprehensive income and changes in fair value resulting from non-credit components recognized in Principal transactions revenues. A weighted average coupon rate is not meaningful, as all of the structured notes are carried at fair value.

(3) Of the $1,215.3 million of structured notes at November 30, 2019, $28.0 million matures in 2022, $3.1 million matures in 2024, and the remaining $1,184.2 million matures in 2025 or thereafter.

(4)

The Total Long-term debt has a fair value of $7,280.4 million and $6,423.6 million at November 30, 2019 and 2018, respectively, which would be classified as Level 2 and Level 3 in the fair value hierarchy.