Revenues from Contracts with Customers (Tables)

12 Months Ended

Nov. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following presents our revenues from contracts with customers disaggregated by major business activity and primary geographic regions (in thousands):

	Year Ended November 30,
	2019						2018
	Reportable Segment						Reportable Segment
	Investment Banking and Capital Markets		Asset Management		Total		Investment Banking and Capital Markets		Asset Management		Total
Major business activity:
Equities (1)	$	662,804	$	—	$	662,804	$	649,631	$	—	$	649,631
Fixed income (1)	13,505		—		13,505		13,839		—		13,839
Investment banking - Advisory	767,421		—		767,421		820,042		—		820,042
Investment banking - Underwriting	761,308		—		761,308		1,090,161		—		1,090,161
Asset management	—		17,219		17,219		—		21,214		21,214
Total	$	2,205,038	$	17,219	$	2,222,257	$	2,573,673	$	21,214	$	2,594,887
Primary geographic region:
Americas	$	1,751,568	$	10,472	$	1,762,040	$	2,186,955	$	20,871	$	2,207,826
Europe	374,411		6,747		381,158		304,027		343		304,370
Asia	79,059		—		79,059		82,691		—		82,691
Total	$	2,205,038	$	17,219	$	2,222,257	$	2,573,673	$	21,214	$	2,594,887

(1)

Revenues from contracts with customers associated with the equities and fixed income businesses primarily represent commissions and other fee revenue.

The following table presents our total revenues separated for our revenues from contracts with customers and our other sources of revenues (in thousands):

	Year Ended November 30,
	2019		2018
Revenues from contracts with customers:
Commissions and other fees (1)	$	676,309	$	663,470
Investment banking	1,528,729		1,910,203
Asset management fees	17,219		21,214
Total revenue from contracts with customers	2,222,257		2,594,887
Other sources of revenue:
Principal transactions	769,258		524,296
Revenues from arrangements with strategic partners	3,066		—
Interest	1,496,529		1,207,095
Other	93,422		103,354
Total revenues	$	4,584,532	$	4,429,632

(1)

During the third quarter of 2019, we reclassified the presentation of certain other fees, primarily related to prime brokerage services offered to clients. These fees were previously presented as Other revenues in our Consolidated Statements of Earnings and are now presented within Commissions and other fees. There is no impact on Total revenues as a result of this change in presentation. Previously reported results are presented on a comparable basis.