Segment Reporting (Tables)

3 Months Ended

Feb. 29, 2024

Segment Reporting [Abstract]

Schedule of Net Revenues, Expenses and Total Assets by Segment

Our net revenues, non-interest expenses and earnings from continuing operations before income taxes by reportable business segment are summarized below (in millions):

	Three Months Ended
	February 29, 2024		February 28, 2023
Investment Banking and Capital Markets:
Net revenues	$	1,451.3	$	1,217.1
Non-interest expenses	1,296.3		1,035.1
Earnings from continuing operations before income taxes	155.0		182.0
Asset Management:
Net revenues	273.4		68.5
Non-interest expenses	221.7		89.3
Earnings (losses) from continuing operations before income taxes	51.7		(20.8)
Total of Reportable Business Segments:
Net revenues	1,724.7		1,285.6
Non-interest expenses	1,518.0		1,124.4
Earnings from continuing operations before income taxes	206.7		161.2
Reconciliation to consolidated amounts:
Net revenues	13.5		(2.1)
Non-interest expenses	—		1.1
Earnings (losses) from continuing operations before income taxes (1)	13.5		(3.2)
Total:
Net revenues	1,738.2		1,283.5
Non-interest expenses	1,518.0		1,125.5
Earnings from continuing operations before income taxes	$	220.2	$	158.0

(1)Management does not consider certain foreign currency transaction gains or losses, debt valuation adjustments on derivative contracts, gains and losses on investments held in deferred compensation or certain other immaterial corporate income and expense items in assessing the financial performance of operating businesses. Collectively, these items are included in the reconciliation of reportable business segment amounts to consolidated amounts.

The following table summarizes our total assets by reportable business segment (in millions):

	February 29, 2024		November 30, 2023
Investment Banking and Capital Markets	$	54,289.3	$	51,776.9
Asset Management	6,643.7		6,128.3
Total assets	$	60,933.0	$	57,905.2

Summary Net Revenues by Geographic Region

Net revenues by geographic region were as follows (in millions):

	Three Months Ended
	February 29, 2024		February 28, 2023
Americas (1)	$	1,307.8	$	982.3
Europe and the Middle East (2)	331.8		217.9
Asia-Pacific	98.6		83.3
Net revenues	$	1,738.2	$	1,283.5

(1)Primarily relates to U.S. results.

(2)Primarily relates to U.K. results.