Goodwill and Intangible Assets
 6 Months Ended
May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill, which is all attributed to our Investment Banking and Capital Markets reportable business segment, amounted to $1.64 billion and $1.65 billion at May 31, 2022 and November 30, 2021, respectively.
The following table is a summary of the changes to goodwill for the six months ended May 31, 2022 (in thousands):
Balance at November 30, 2021$1,645,317 
Currency translation and other adjustments(5,340)
Balance at May 31, 2022$1,639,977 
Intangible Assets
Intangible assets are included in Other assets in our Consolidated Statements of Financial Condition. The following tables present the gross carrying amount, changes in carrying amount, net carrying amount and weighted average amortization period of identifiable intangible assets at May 31, 2022 and November 30, 2021 (dollars in thousands):
May 31, 2022Weighted average remaining lives (years)
Gross costAccumulated amortizationNet carrying amount
Customer relationships$125,147 $(86,608)$38,539 8.8
Trade name127,885 (33,855)94,030 25.8
Exchange and clearing organization membership interests and registrations
7,554 — 7,554 N/A
Total
$260,586 $(120,463)$140,123 
November 30, 2021Weighted average remaining lives (years)
Gross costAccumulated amortizationNet carrying amount
Customer relationships $125,921 $(83,979)$41,942 9.0
Trade name 128,753 (32,244)96,509 26.3
Exchange and clearing organization membership interests and registrations
7,732 — 7,732 N/A
Total
$262,406 $(116,223)$146,183 
Amortization Expense
For finite life intangible assets, aggregate amortization expense amounted to $2.0 million and $5.0 million for the three and six months ended May 31, 2022, respectively, and $3.0 million and $6.0 million for the three and six months ended May 31, 2021, respectively. These expenses are included in Other expenses in our Consolidated Statements of Earnings.
The estimated future amortization expense for the next five fiscal years is as follows (in thousands):
Remainder of fiscal year 2022$4,129 
Year ending November 30, 20238,258 
Year ending November 30, 20248,258 
Year ending November 30, 20258,258 
Year ending November 30, 20268,258