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Income Taxes (Tables)

12 Months Ended

Nov. 30, 2018

Income Tax Disclosure [Abstract]

Income before income taxes, domestic and foreign

Income before income taxes for fiscal 2018, 2017 and 2016 consisted of the following (in thousands):

		2018				2017				2016
Domestic		$	542,948			$	1,056,156			$	805,749
Foreign		2,250,928				1,081,485				629,389
Income before income taxes		$	2,793,876			$	2,137,641			$	1,435,138

Provision for income taxes, current and deferred

The provision for income taxes for fiscal 2018, 2017 and 2016 consisted of the following (in thousands):

		2018				2017				2016
Current:
United States federal		$	501,272			$	298,802			$	94,396
Foreign		140,308				60,962				59,749
State and local		28,612				33,578				15,222
Total current		670,192				393,342				169,367
Deferred:
United States federal		(466,113		)		48,905				33,924
Foreign		(9,734		)		(4,242		)		(2,751		)
State and local		8,757				5,682				(9,287		)
Total deferred		(467,090		)		50,345				21,886
Tax expense attributable to employee stock plans		—				—				75,103
Provision for income taxes		$	203,102			$	443,687			$	266,356

Reconciliation of provision for income taxes

Total income tax expense differs from the expected tax expense (computed by multiplying the U.S. federal statutory rate of 22.2% in 2018 and 35% in both 2017 and 2016 by income before income taxes) as a result of the following (in thousands):

		2018				2017				2016
Computed “expected” tax expense		$	620,240			$	748,174			$	502,298
State tax expense, net of federal benefit		25,214				25,131				10,636
Tax credits		(110,849		)		(38,000		)		(48,383		)
Differences between statutory rate and foreign effective tax rate		(384,393		)		(215,490		)		(133,778		)
Stock-based compensation, net of tax deduction		(95,372		)		(42,512		)		15,101
Resolution of income tax examinations		(42,432		)		(31,358		)		(68,003		)
Domestic manufacturing deduction benefit		(13,098		)		(32,200		)		(26,990		)
Impacts of the U.S. Tax Act		185,997				—				—
Tax charge for licensing acquired company technology to foreign subsidiaries		—				24,771				5,346
Other		17,795				5,171				10,129
Provision for income taxes		$	203,102			$	443,687			$	266,356

Deferred tax assets and liabilities

The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and liabilities as of November 30, 2018 and December 1, 2017 are presented below (in thousands):

		2018				2017
Deferred tax assets:
Acquired technology		$	9,561			$	4,846
Reserves and accruals		59,100				48,761
Deferred revenue		37,690				23,452
Stock-based compensation		89,240				74,942
Net operating loss carryforwards of acquired companies		209,445				44,465
Credit carryforwards		173,748				124,205
Capitalized expenses		19,074				13,428
Benefits relating to tax positions		51,965				33,318
Other		37,160				30,300
Total gross deferred tax assets		686,983				397,717
Deferred tax asset valuation allowance		(174,496		)		(93,568		)
Total deferred tax assets		512,487				304,149
Deferred tax liabilities:
Depreciation and amortization		40,425				84,064
Undistributed earnings of foreign subsidiaries		17,556				382,744
Acquired intangible assets		501,208				117,282
Total deferred tax liabilities		559,189				584,090
Net deferred tax liabilities:		$	46,702			$	279,941

Gross amount of unrecognized tax benefits

During fiscal 2018 and 2017, our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows (in thousands):

		2018				2017
Beginning balance		$	172,945			$	178,413
Gross increases in unrecognized tax benefits – prior year tax positions		16,191				3,680
Gross decreases in unrecognized tax benefits – prior year tax positions		(4,000		)		(30,166		)
Gross increases in unrecognized tax benefits – current year tax positions		60,721				24,927
Settlements with taxing authorities		—				(3,876		)
Lapse of statute of limitations		(45,922		)		(8,819		)
Foreign exchange gains and losses		(3,783		)		8,786
Ending balance		$	196,152			$	172,945

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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