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Goodwill and Intangible Assets (Tables)
 9 Months Ended
Aug. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Goodwill attributed to our reportable business segments are as follows (in thousands):
 
August 31, 2020
 
November 30, 2019
Investment Banking and Capital Markets
$
1,643,633

 
$
1,640,201

Asset Management
411

 
3,398

Total goodwill
$
1,644,044

 
$
1,643,599

The following table is a summary of the changes to goodwill for the nine months ended August 31, 2020 (in thousands):
Balance at November 30, 2019
$
1,643,599

Translation adjustments
3,445

Impairment losses (1)
(3,000
)
Balance at August 31, 2020
$
1,644,044

(1)    Impairment losses are related to our wind down of an asset management platform.
Schedule of Finite-Lived Intangible Assets The following tables present the gross carrying amount, changes in carrying amount, net carrying amount and weighted average amortization period of identifiable intangible assets at August 31, 2020 and November 30, 2019 (dollars in thousands):
 
August 31, 2020
 
Weighted average remaining lives (years)
 
Gross cost
 
Impairment losses
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships (1)
$
126,132

 
$
(26
)
 
$
(73,720
)
 
$
52,386

 
9.5
Trade name (1)
129,154

 
(274
)
 
(27,673
)
 
101,207

 
27.5
Exchange and clearing organization membership interests and registrations
8,342

 
(468
)
 
—

 
7,874

 
N/A
Total
$
263,628

 
$
(768
)
 
$
(101,393
)
 
$
161,467

 
 
(1)    Impairment losses are related to our wind down of an asset management platform.
 
November 30, 2019
 
Weighted average remaining lives (years)
 
Gross cost
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships
$
125,736

 
$
(67,257
)
 
$
58,479

 
9.9
Trade name
128,590

 
(24,800
)
 
103,790

 
28.3
Exchange and clearing organization membership interests and registrations
8,273

 
—

 
8,273

 
N/A
Total
$
262,599

 
$
(92,057
)
 
$
170,542

 
 
Schedule of Indefinite-Lived Intangible Assets The following tables present the gross carrying amount, changes in carrying amount, net carrying amount and weighted average amortization period of identifiable intangible assets at August 31, 2020 and November 30, 2019 (dollars in thousands):
 
August 31, 2020
 
Weighted average remaining lives (years)
 
Gross cost
 
Impairment losses
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships (1)
$
126,132

 
$
(26
)
 
$
(73,720
)
 
$
52,386

 
9.5
Trade name (1)
129,154

 
(274
)
 
(27,673
)
 
101,207

 
27.5
Exchange and clearing organization membership interests and registrations
8,342

 
(468
)
 
—

 
7,874

 
N/A
Total
$
263,628

 
$
(768
)
 
$
(101,393
)
 
$
161,467

 
 
(1)    Impairment losses are related to our wind down of an asset management platform.
 
November 30, 2019
 
Weighted average remaining lives (years)
 
Gross cost
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships
$
125,736

 
$
(67,257
)
 
$
58,479

 
9.9
Trade name
128,590

 
(24,800
)
 
103,790

 
28.3
Exchange and clearing organization membership interests and registrations
8,273

 
—

 
8,273

 
N/A
Total
$
262,599

 
$
(92,057
)
 
$
170,542

 
 
Future Amortization Expense Related to Intangible Assets
The estimated future amortization expense for the five succeeding fiscal years is as follows (in thousands):
Remainder of fiscal 2020
$
3,045

Year ending November 30, 2021
12,181

Year ending November 30, 2022
9,239

Year ending November 30, 2023
8,258

Year ending November 30, 2024
8,258