Cash, Cash Equivalents and Short-Term Investments (Tables)

12 Months Ended

Nov. 30, 2018

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash, Cash Equivalents and Short-term Investments

Cash, cash equivalents and short-term investments consisted of the following as of December 1, 2017 (in thousands):



	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	280,488	$	—	$	—		$	280,488
Cash equivalents:
Money market mutual funds	2,006,741		—		—			2,006,741
Time deposits	18,843		—		—			18,843
Total cash equivalents	2,025,584		—		—			2,025,584
Total cash and cash equivalents	2,306,072		—		—			2,306,072
Short-term fixed income securities:
Asset-backed securities	98,403		1		(403		)	98,001
Corporate debt securities	2,461,691		2,694		(10,125		)	2,454,260
Foreign government securities	2,396		—		(8		)	2,388
Municipal securities	21,189		8		(132		)	21,065
U.S. Treasury securities	941,538		2		(3,552		)	937,988
Total short-term investments	3,525,217		2,705		(14,220		)	3,513,702
Total cash, cash equivalents and short-term investments	$	5,831,289	$	2,705	$	(14,220	)	$	5,819,774

Cash, cash equivalents and short-term investments consisted of the following as of November 30, 2018 (in thousands):



	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	368,564	$	—	$	—		$	368,564
Cash equivalents:
Money market mutual funds	1,234,188		—		—			1,234,188
Time deposits	40,023		—		—			40,023
Total cash equivalents	1,274,211		—		—			1,274,211
Total cash and cash equivalents	1,642,775		—		—			1,642,775
Short-term fixed income securities:
Asset-backed securities	41,875		—		(367		)	41,508
Corporate debt securities	1,546,860		44		(24,696		)	1,522,208
Foreign government securities	4,179		—		(24		)	4,155
Municipal securities	18,601		1		(286		)	18,316
Total short-term investments	1,611,515		45		(25,373		)	1,586,187
Total cash, cash equivalents and short-term investments	$	3,254,290	$	45	$	(25,373	)	$	3,228,962

Continuous Unrealized Loss Position Less Than Twelve Months Related to Available-for-Sale Securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that have been in an unrealized loss position for less than twelve months, as of November 30, 2018 and December 1, 2017 (in thousands):



	2018					2017
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	538,109	$	(7,966	)	$	1,338,232	$	(5,459	)
Asset-backed securities	6,696		(54		)	64,618		(193		)
Municipal securities	6,599		(81		)	11,805		(115		)
Foreign government securities	—		—			2,388		(8		)
U.S. Treasury securities	—		—			593,296		(2,087		)
Total	$	551,404	$	(8,101	)	$	2,010,339	$	(7,862	)

Continuous Unrealized Loss Position Twelve Months or Longer Related to Available-for-Sale-Securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that were in a continuous unrealized loss position for more than twelve months, as of November 30, 2018 and December 1, 2017 (in thousands):



	2018					2017
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	969,701	$	(16,730	)	$	500,689	$	(4,666	)
Asset-backed securities	34,812		(313		)	32,383		(210		)
Municipal securities	11,532		(205		)	598		(17		)
Foreign government securities	4,154		(24		)	—		—
U.S. Treasury securities	—		—			338,950		(1,465		)
Total	$	1,020,199	$	(17,272	)	$	872,620	$	(6,358	)

Cost and Estimated Fair Value of Debt Securities

The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of November 30, 2018 (in thousands):



	Amortized Cost		Estimated Fair Value
Due within one year	$	615,867	$	612,104
Due between one and two years	574,554		564,199
Due between two and three years	289,033		282,144
Due after three years	132,061		127,740
Total	$	1,611,515	$	1,586,187