Leases (Tables)

12 Months Ended

Nov. 30, 2022

Leases [Abstract]

Components of Lease Expense and Other Information

Information related to operating leases in our Consolidated Statements of Financial Condition at November 30, 2022 and 2021 is as follows (in thousands, except lease term and discount rate):

	November 30,
	2022			2021
Premises and equipment - ROU assets	$	455,264		$	472,014
Weighted average:
Remaining lease term (in years)	10.0			10.0
Discount rate	2.9		%	2.9		%

The following table presents our lease costs (in thousands):

	Year Ended November 30,
	2022		2021		2020
Operating lease costs (1)	$	80,959	$	79,701	$	77,452
Variable lease costs (2)	12,887		11,168		13,576
Less: Sublease income	(4,507)		(7,191)		(7,590)
Total lease cost, net	$	89,339	$	83,678	$	83,438

(1)     Includes short-term leases, which are not material.

(2)     Includes property taxes, insurance costs, common area maintenance, utilities, and other costs that are not fixed. The amount also includes rent increases resulting from inflation indices and periodic market rent reviews.

Consolidated Statements of Cash Flows supplemental information was as follows (in thousands):

	Year Ended November 30,
	2022		2021		2020
Cash outflows - lease liabilities	$	81,082	$	79,437	$	73,300
Non-cash - ROU assets recorded for new and modified leases	87,977		30,246		22,460

Maturity of Operating Lease Liabilities

The following table presents the maturities of our operating lease liabilities and a reconciliation to the Lease liabilities included in our Consolidated Statements of Financial Condition at November 30, 2022 and 2021 (in thousands):

	November 30,
Fiscal Year	2022		2021
2022	$	—	$	75,384
2023	76,847		71,383
2024	78,656		67,039
2025	78,103		66,939
2026	74,472		64,105
2027	71,255		61,722
2028 and thereafter	228,722		228,964
Total undiscounted cash flows	608,055		635,536
Less: Difference between undiscounted and discounted cash flows	(75,353)		(87,470)
Operating leases amount in our Consolidated Statements of Financial Condition	532,702		548,066
Finance leases amount in our Consolidated Statements of Financial Condition	1,006		229
Total amount in our Consolidated Statements of Financial Condition	$	533,708	$	548,295