Organization and Basis of Presentation (Tables)

12 Months Ended

Nov. 30, 2022

Schedule of Error Corrections and Prior Period Adjustments

The following table sets forth our Consolidated Statement of Financial Condition as of November 30, 2021 as originally reported and as revised and presented within these consolidated financial statements as a result of the reclassifications and change in accounting policy.


	Balance at November 30, 2021
	As Originally Reported		Increases/Decreases due to reclassifications		Increases/Decreases due to change in accounting policy		As Revised
Assets:
Financial instruments owned	$	19,828,670	$	50,964	$	(1,855,013)	$	18,024,621
Investments in and loans to related parties	1,745,790		(158,381)		—		1,587,409
Receivables (1)	7,839,240		(7,839,240)		—		—
Receivables - Brokers, dealers and clearing organizations	—		4,896,704		(2,441,786)		2,454,918
Receivables - Customers	—		1,615,822		—		1,615,822
Receivables - Fees, interest and other	—		582,756		—		582,756
Intangible assets, net and goodwill	1,897,500		(1,897,500)		—		—
Goodwill	—		1,745,098		—		1,745,098
Other assets (1)	2,352,247		1,003,777		—		3,356,024
Total assets	60,404,110		—		(4,296,799)		56,107,311
Liabilities:
Financial instruments sold, not yet purchased	$	11,699,467	$	—	$	(2,432,377)	$	9,267,090
Payables, expense accruals and other liabilities	13,612,367		(13,612,367)		—		—
Payables - Brokers, dealers and clearing organizations	—		5,816,515		(1,864,422)		3,952,093
Payables - Customers	—		4,461,481		—		4,461,481
Accrued expenses and other liabilities	—		3,334,371		—		3,334,371
Total liabilities	49,674,070		—		(4,296,799)		45,377,271

(1) Automobile loans of $745.3 million historically presented within Receivables have been reclassified to Other assets on the Consolidated Statement of Financial Condition.

The following table sets forth our Consolidated Statements of Earnings for the years ended November 30, 2021 and 2020 as originally reported and as revised and presented within these consolidated financial statements as a result of the reclassifications.


	Year Ended November 30, 2021						Year Ended November 30, 2020
	As Originally Reported		Increases/Decreases due to reclassifications		As Revised		As Originally Reported		Increases/Decreases due to reclassifications		As Revised
Principal transactions	$	1,623,713	$	(6,377)	$	1,617,336	$	1,916,508	$	11,635	$	1,928,143
Asset management fees and revenues	—		72,084		72,084		—		34,209		34,209
Interest	943,336		12,982		956,318		997,555		11,993		1,009,548
Other	1,211,120		(173,108)		1,038,012		718,125		(133,320)		584,805
Total revenues	9,039,883		(94,419)		8,945,464		6,955,930		(75,483)		6,880,447
Interest expense	854,554		77,084		931,638		945,056		84,870		1,029,926
Net revenues	8,185,329		(171,503)		8,013,826		6,010,874		(160,353)		5,850,521
Compensation and benefits	3,551,124		3,636		3,554,760		2,940,863		3,208		2,944,071
Interest expense	77,084		(77,084)		—		84,870		(84,870)		—
Selling, general and other expenses	1,278,447		(1,278,447)		—		1,078,956		(1,078,956)		—
Underwriting costs	—		117,572		117,572		—		95,636		95,636
Technology and communications	—		388,134		388,134		—		335,065		335,065
Occupancy and equipment rental	—		106,254		106,254		—		95,754		95,754
Business development	—		109,772		109,772		—		70,797		70,797
Professional services	—		215,761		215,761		—		176,280		176,280
Other expenses	—		337,318		337,318		—		302,216		302,216
Total expenses	5,836,805		(77,084)		5,759,721		4,868,308		(84,870)		4,783,438
Income (loss) related to associated companies	(94,419)		94,419		—		(75,483)		75,483		—