Revenues from Contracts with Customers (Tables)
 6 Months Ended
May 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table presents our total revenues separated for our revenues from contracts with customers and our other sources of revenues (in thousands):

For the Three Months Ended May 31,For the Six Months Ended May 31,
2022202120222021
Revenues from contracts with customers:
Commissions and other fees
$254,706 $222,624 $484,022 $459,393 
Investment banking
600,859 1,000,700 1,545,907 2,004,312 
Other
277,392 269,029 510,070 461,291 
Total revenues from contracts with customers
1,132,957 1,492,353 2,539,999 2,924,996 
Other sources of revenue:
Principal transactions
204,589 361,023 453,744 1,280,924 
Interest income
244,699 230,448 458,680 470,945 
Other
35,902 82,505 108,524 193,052 
Total revenues from other sources
485,190 673,976 1,020,948 1,944,921 
Total revenues
$1,618,147 $2,166,329 $3,560,947 $4,869,917 
The following presents our revenues from contracts with customers disaggregated by major business activity and primary geographic regions (in thousands):

Reportable Segments (1)
Investment Banking and Capital MarketsAsset ManagementMerchant BankingCorporateReconciling Items -Consolidation AdjustmentsTotal
Three months ended May 31, 2022
Major Business Activity:
Investment Banking - Advisory$371,760 $— $— $— $— $371,760 
Investment Banking - Underwriting229,455 — — — (356)229,099 
Equities (2)251,433 — — — (155)251,278 
Fixed Income (2)3,428 — — — — 3,428 
Asset Management— 3,300 — — — 3,300 
Manufacturing revenues
— — 166,028 — — 166,028 
Oil and gas revenues
— — 83,240 — — 83,240 
Other revenues
— — 24,824 — — 24,824 
Total revenues from contracts with customers
$856,076 $3,300 $274,092 $— $(511)$1,132,957 
Primary Geographic Region:
Americas$683,804 $3,300 $273,030 $— $(511)$959,623 
Europe106,392 — 649 — — 107,041 
Asia Pacific65,880 — 413 — — 66,293 
Total revenues from contracts with customers
$856,076 $3,300 $274,092 $— $(511)$1,132,957 
Three months ended May 31, 2021
Major Business Activity:
Investment Banking - Advisory$390,508 $— $— $— $— $390,508 
Investment Banking - Underwriting610,192 — — — — 610,192 
Equities (2)219,855 — — — (19)219,836 
Fixed Income (2)2,788 — — — — 2,788 
Asset Management— 2,315 — — — 2,315 
Manufacturing revenues
— — 184,092 — — 184,092 
Oil and gas revenues
— — 45,032 — — 45,032 
Other revenues
— — 37,590 — — 37,590 
Total revenues from contracts with customers
$1,223,343 $2,315 $266,714 $— $(19)$1,492,353 
Primary Geographic Region:
Americas$962,556 $2,011 $265,972 $— $(19)$1,230,520 
Europe196,891 304 537 — — 197,732 
Asia Pacific63,896 — 205 — — 64,101 
Total revenues from contracts with customers
$1,223,343 $2,315 $266,714 $— $(19)$1,492,353 
Reportable Segments (1)
Investment Banking and Capital MarketsAsset ManagementMerchant BankingCorporateReconciling Items -Consolidation AdjustmentsTotal
Six months ended May 31, 2022
Major Business Activity:
Investment Banking - Advisory$915,529 $— $— $— $— $915,529 
Investment Banking - Underwriting630,734 — — — (356)630,378 
Equities (2)477,501 — — — (292)477,209 
Fixed Income (2)6,813 — — — — 6,813 
Asset Management— 15,869 — — — 15,869 
Manufacturing revenues
— — 307,136 — — 307,136 
Oil and gas revenues
— — 141,159 — — 141,159 
Other revenues
— — 45,906 — — 45,906 
Total revenues from contracts with customers
$2,030,577 $15,869 $494,201 $— $(648)$2,539,999 
Primary Geographic Region:
Americas$1,620,874 $15,869 $492,259 $— $(648)$2,128,354 
Europe272,564 — 1,207 — — 273,771 
Asia Pacific137,139 — 735 — — 137,874 
Total revenues from contracts with customers
$2,030,577 $15,869 $494,201 $— $(648)$2,539,999 
Six months ended May 31, 2021
Major Business Activity:
Investment Banking - Advisory$701,947 $— $— $— $— $701,947 
Investment Banking - Underwriting1,302,365 — — — — 1,302,365 
Equities (2)453,394 — — — (188)453,206 
Fixed Income (2)6,187 — — — — 6,187 
Asset Management— 9,741 — — — 9,741 
Manufacturing revenues
— — 321,939 — — 321,939 
Oil and gas revenues
— — 77,041 — — 77,041 
Other revenues
— — 52,570 — — 52,570 
Total revenues from contracts with customers
$2,463,893 $9,741 $451,550 $— $(188)$2,924,996 
Primary Geographic Region:
Americas$1,989,422 $9,108 $450,310 $— $(188)$2,448,652 
Europe360,628 633 906 — — 362,167 
Asia Pacific113,843 — 334 — — 114,177 
Total revenues from contracts with customers
$2,463,893 $9,741 $451,550 $— $(188)$2,924,996 

(1)    In the first quarter of 2022, we transferred certain Merchant Banking net assets to our Investment Banking and Capital Markets, and Asset Management segments. Prior year amounts have been reclassified to conform to current segment reporting.
(2) Revenues from contracts with customers associated with the equities and fixed income businesses primarily represent commissions and other fee revenue.