Business Acquisitions (Tables)

3 Months Ended

Feb. 29, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

A statement of the fair value of assets acquired and liabilities assumed on the acquisition dates are presented below (in thousands):

	Stratos		OpNet		Total
Cash and cash equivalents	$	83,006	$	7,875	$	90,881
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations	124,306		—		124,306
Financial instruments owned, at fair value	53,028		—		53,028
Investments in and loans to related parties	—		6,644		6,644
Receivables:
Brokers, dealers and clearing organizations	113,750		—		113,750
Fees, interest and other	4,745		14,728		19,473
Property and equipment, net	31,830		111,458		143,288
Goodwill (1)	5,463		127,051		132,514
Assets held for sale (2)	—		578,820		578,820
Other assets (3)	31,135		98,278		129,413
Total assets acquired	$	447,263	$	944,854	$	1,392,117
Financial instruments sold, net yet purchased, at fair value	$	31,293	$	—	$	31,293
Payables:
Brokers, dealers and clearing organizations	236		—		236
Customers payables	297,494		—		297,494
Short-term borrowings	—		7,137		7,137
Lease liabilities	9,308		23,040		32,348
Liabilities held for sale (2)	—		303,447		303,447
Accrued expenses and other liabilities	18,011		176,308		194,319
Long-term debt	—		75,437		75,437
Total liabilities assumed	$	356,342	$	585,369	$	941,711
Net assets acquired	$	90,921	$	359,485	$	450,406
Noncontrolling interests	$	—	$	42,168	$	42,168

(1)All goodwill is attributed to the Asset Management reportable segment.

(2)Relates to the net operating assets of the wholesale operations of OpNet.

(3)Includes intangible assets acquired as part of the OpNet acquisition in the form of purchased technology, trademarks and trade names, and customer relationships. These intangible assets are being amortized over a finite life of up to 20 years.