Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
May 31, 2024 |
May 31, 2023 |
May 31, 2024 |
May 31, 2023 |
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| Revenues | |||||
| Revenues | $ 2,516,296 | $ 1,651,182 | $ 5,068,238 | $ 3,431,746 | |
| Interest expense | 859,851 | 613,572 | 1,673,590 | 1,110,644 | |
| Net revenues | 1,656,445 | 1,037,610 | 3,394,648 | 2,321,102 | |
| Non-interest expenses | |||||
| Compensation and benefits | 861,993 | 575,868 | 1,788,864 | 1,278,926 | |
| Brokerage and clearing fees | 110,536 | 96,592 | 220,206 | 177,066 | |
| Underwriting costs | 18,552 | 13,169 | 37,036 | 26,376 | |
| Technology and communications | 135,238 | 118,936 | 272,750 | 232,321 | |
| Occupancy and equipment rental | 29,327 | 24,395 | 57,480 | 51,710 | |
| Business development | 68,630 | 43,587 | 126,281 | 80,425 | |
| Professional services | 75,493 | 68,514 | 153,337 | 130,675 | |
| Depreciation and amortization | 49,946 | 25,310 | 93,148 | 58,602 | |
| Cost of sales | 37,462 | 2,362 | 72,133 | 4,530 | |
| Other expenses | 41,514 | 50,958 | 125,417 | 104,534 | |
| Total non-interest expenses | 1,428,691 | 1,019,691 | 2,946,652 | 2,145,165 | |
| Earnings from continuing operations before income taxes | 227,754 | 17,919 | 447,996 | 175,937 | |
| Income tax expense | 73,107 | 9,235 | 129,066 | 37,929 | |
| Net earnings from continuing operations | 154,647 | 8,684 | 318,930 | 138,008 | |
| Net earnings (losses) from discontinued operations, net of income tax benefit of $173, $0, $3,176, and $0 | 40 | 0 | (7,851) | 0 | |
| Net earnings | 154,687 | 8,684 | 311,079 | 138,008 | |
| Net losses attributable to noncontrolling interests | (4,790) | (3,513) | (12,228) | (9,568) | |
| Net losses attributable to redeemable noncontrolling interests | 0 | (198) | 0 | (454) | |
| Preferred stock dividends | 13,741 | 0 | 27,930 | 2,016 | |
| Net earnings attributable to common shareholders | $ 145,736 | $ 12,395 | $ 295,377 | $ 146,014 | |
| Earnings (losses) per common share: | |||||
| Basic from continuing operations (in USD per share) | $ 0.66 | $ 0.05 | $ 1.37 | $ 0.60 | |
| Diluted from continuing operations (in USD per share) | 0.64 | 0.05 | 1.34 | 0.60 | |
| Basic (in USD per share) | 0.66 | 0.05 | 1.34 | 0.60 | |
| Diluted (in USD per share) | $ 0.64 | $ 0.05 | $ 1.31 | $ 0.60 | |
| Weighted-average common share shares outstanding | |||||
| Basic (in shares) | 219,971 | 242,568 | 219,935 | 240,825 | |
| Diluted (in shares) | 226,146 | 245,413 | 225,587 | 246,870 | |
| Investment banking | |||||
| Revenues | |||||
| Revenues | $ 738,584 | $ 492,475 | $ 1,417,649 | $ 995,273 | |
| Principal transactions | |||||
| Revenues | |||||
| Revenues | 416,195 | 320,959 | 1,056,931 | 818,205 | |
| Commissions and other fees | |||||
| Revenues | |||||
| Revenues | 271,782 | 235,312 | 517,325 | 448,582 | |
| Asset management fees and revenues | |||||
| Revenues | |||||
| Revenues | 11,768 | 13,933 | 62,140 | 52,919 | |
| Interest | |||||
| Revenues | |||||
| Revenues | 879,727 | 632,679 | 1,699,216 | 1,164,064 | |
| Other | |||||
| Revenues | |||||
| Revenues | $ 198,240 | $ (44,176) | $ 314,977 | $ (47,297) | |
| X | ||||||||||
- Definition Earnings Per Share, Continuing Operations, Basic No definition available.
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- Definition Earnings Per Share, Continuing Operations, Diluted No definition available.
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- Definition Net Income (Loss) And Preferred Stock Dividends, Income Statement Impact No definition available.
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- Definition Underwriting Costs No definition available.
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- Definition Business development involves the development of products and services, their delivery, design and their implementation. Business development includes a number of techniques designed to grow an economic enterprise. Such techniques include, but are not limited to, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, follow-up sales activity, formal proposal writing and business model design. Business development involves evaluating a business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of expense in the period for communications and data processing expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense during the period for floor brokerage fees paid to other broker-dealers to execute trades on their behalf, stock exchange fees, order flow fees, and clearance fees. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Portion of net income (loss) attributable to nonredeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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