Goodwill and Other Intangible Assets (Tables)
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6 Months Ended |
May 31, 2016 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Goodwill Resulting from Leucadia Transaction Attributable to Reportable Segments and Summary of Changes to 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 |
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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 |
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| Summary of Intangible Assets |
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 |
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| | (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 |
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| Future Amortization Expense Related to Intangible Assets |
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 |
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