Goodwill and Other Intangible Assets
 6 Months Ended
May 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
Goodwill
Goodwill attributed to our reportable segments are as follows (in thousands):
 
May 31, 2016
 
November 30, 2015
Capital Markets
$
1,650,267

 
$
1,653,588

Asset Management
3,000

 
3,000

Total goodwill
$
1,653,267

 
$
1,656,588

The following table is a summary of the changes to goodwill for the six months ended May 31, 2016 (in thousands):
Balance at November 30, 2015
$
1,656,588

Translation adjustments
(3,321
)
Balance at May 31, 2016
$
1,653,267


Intangible Assets
Intangible assets are included in Other assets in the Consolidated Statements of Financial Condition. The following tables present the gross carrying amount, dispositions, accumulated amortization, net carrying amount and weighted average amortization period of identifiable intangible assets at May 31, 2016 and November 30, 2015 (dollars in thousands):
 
May 31, 2016
 
Weighted average remaining lives (years)
 
Gross cost
 
Disposals (1)
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships
$
127,210

 
—

 
$
(38,787
)
 
$
88,423

 
12.4
Trade name
130,537

 
—

 
(12,121
)
 
118,416

 
31.8
Exchange and clearing organization membership interests and registrations
11,927

 
(1,379
)
 
—

 
10,548

 
N/A
Total
$
269,674

 
$
(1,379
)
 
$
(50,908
)
 
$
217,387

 
 
(1)
Activity is related to the sale of certain exchange and clearing organization membership interests in the Futures reporting unit due to the exit of the business.
 
November 30, 2015
 
Weighted average remaining lives (years)
 
Gross cost
 
Accumulated amortization
 
Net carrying amount
 
Customer relationships
$
127,667

 
$
(34,754
)
 
$
92,913

 
12.9
Trade name
131,288

 
(10,315
)
 
120,973

 
32.3
Exchange and clearing organization membership interests and registrations
11,897

 
—

 
11,897

 
N/A
Total
$
270,852

 
$
(45,069
)
 
$
225,783

 
 

Amortization Expense
For finite life intangible assets, aggregate amortization expense amounted to $3.1 million and $6.1 million for the three and six months ended May 31, 2016, respectively, and $3.0 million and $6.1 million for the three and six months ended May 31, 2015, respectively. These expenses are included in Other expenses on the Consolidated Statements of Earnings.
The estimated future amortization expense for the five succeeding fiscal years is as follows (in thousands):
Remainder of fiscal 2016
$
6,099

Year ended November 30, 2017
12,198

Year ended November 30, 2018
12,198

Year ended November 30, 2019
12,198

Year ended November 30, 2020
12,198