Commitments, Contingencies and Guarantees (Tables)
 6 Months Ended
May 31, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
The following table summarizes our commitments at May 31, 2016 (in millions):
 
Expected Maturity Date (fiscal years)
 
 
 
2016
 
2017
 
2018 
 and 
 2019
 
2020 
 and 
 2021
 
2022 
 and 
 Later
 
Maximum Payout
Equity commitments (1)
$
1.5

 
$
7.9

 
$
—

 
$
11.5

 
$
225.0

 
$
245.9

Loan commitments (1)
2.5

 
329.9

 
85.0

 
59.2

 
—

 
476.6

Mortgage-related and other purchase commitments
1,631.2

 
193.4

 
1,133.8

 
—

 
—

 
2,958.4

Underwriting commitments
361.7

 
—

 
—

 
—

 
—

 
361.7

Forward starting reverse repos and repos
213.9

 
—

 
—

 
—

 
—

 
213.9

Other unfunded commitments (1)
47.1

 
256.5

 
33.0

 
5.3

 
33.5

 
375.4

Total commitments
$
2,257.9

 
$
787.7

 
$
1,251.8

 
$
76.0

 
$
258.5

 
$
4,631.9

(1)
Equity, loan and other unfunded commitments are presented by contractual maturity date. The amounts, however, are available on demand.
Guarantees
The following table summarizes the notional amounts associated with our derivative contracts meeting the definition of a guarantee under U.S. GAAP at May 31, 2016 (in millions):
 
Expected Maturity Date (fiscal years)
 
 
 
2016
 
2017
 
2018 
 and 
 2019
 
2020 
 and 
 2021
 
2022 
 and 
 Later
 
Notional/ Maximum Payout
Guarantee Type:
 
 
 
 
 
 
 
 
 
 
 
Derivative contracts—non-credit related
$
18,635.1

 
$
3,405.0

 
$
327.4

 
$
—

 
$
436.1

 
$
22,803.6

Written derivative contracts—credit related
—

 
—

 
91.1

 
248.4

 
2.5

 
342.0

Total derivative contracts
$
18,635.1

 
$
3,405.0

 
$
418.5

 
$
248.4

 
$
438.6

 
$
23,145.6
External Credit Ratings of Underlying or Referenced Assets for Credit Related Derivatives Contracts
At May 31, 2016 the external credit ratings of the underlyings or referenced assets for our credit related derivatives contracts (in millions):
 
External Credit Rating
 
 
AAA/
Aaa
 
AA/Aa
 
A
 
BBB/
Baa
 
Below
Investment
Grade
 
Notional/
Maximum
Payout
Credit related derivative contracts:
 
 
 
 
 
 
 
 
 
 
 
Index credit default swaps
$
4.5

 
$
—

 
$
—

 
$
83.4

 
$
—

 
$
87.9

Single name credit default swaps
$
—

 
$
—

 
$
4.0

 
$
76.0

 
$
174.1

 
$
254.1