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Cash, Cash Equivalents and Short-Term Investments (Tables) | 6 Months Ended
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May 31, 2019
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 May 31, 2019 (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Current assets: |  |  |  |  |  |  |
Cash | $ | 400,023 |  |  | $ | — |  |  | $ | — |  |  | $ | 400,023 |
Cash equivalents: |  |  |  |  |  |  |
Corporate debt securities | 144,563 |  |  | — |  |  | (8 | ) |  | 144,555 |
Money market mutual funds | 1,474,933 |  |  | — |  |  | — |  |  | 1,474,933 |
Municipal securities | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Time deposits | 57,400 |  |  | — |  |  | — |  |  | 57,400 |
U.S. agency securities | 4,999 |  |  | — |  |  | — |  |  | 4,999 |
Total cash equivalents | 1,682,895 |  |  | — |  |  | (8 | ) |  | 1,682,887 |
Total cash and cash equivalents | 2,082,918 |  |  | — |  |  | (8 | ) |  | 2,082,910 |
Short-term fixed income securities: |  |  |  |  |  |  |
Asset-backed securities | 61,145 |  |  | 59 |  |  | (80 | ) |  | 61,124 |
Corporate debt securities | 1,314,844 |  |  | 804 |  |  | (3,616 | ) |  | 1,312,032 |
Foreign government securities | 2,399 |  |  | — |  |  | (6 | ) |  | 2,393 |
Municipal securities | 20,499 |  |  | 47 |  |  | (26 | ) |  | 20,520 |
Total short-term investments | 1,398,887 |  |  | 910 |  |  | (3,728 | ) |  | 1,396,069 |
Total cash, cash equivalents and short-term investments | $ | 3,481,805 |  |  | $ | 910 |  |  | $ | (3,736 | ) |  | $ | 3,478,979 |
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 May 31, 2019 and November 30, 2018 (in thousands):
| 2019 |  | 2018
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | 178,253 |  |  | $ | (43 | ) |  | $ | 538,109 |  |  | $ | (7,966 | )
Asset-backed securities | 5,501 |  |  | — |  |  | 6,696 |  |  | (54 | )
Municipal securities | 1,942 |  |  | — |  |  | 6,599 |  |  | (81 | )
Total | $ | 185,696 |  |  | $ | (43 | ) |  | $ | 551,404 |  |  | $ | (8,101 | )
There were 58 securities and 369 securities in an unrealized loss position for less than twelve months at May 31, 2019 and at November 30, 2018, respectively.
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 May 31, 2019 and November 30, 2018 (in thousands):
| 2019 |  | 2018
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | 940,760 |  |  | $ | (3,581 | ) |  | $ | 969,701 |  |  | $ | (16,730 | )
Asset-backed securities | 24,847 |  |  | (80 | ) |  | 34,812 |  |  | (313 | )
Municipal securities | 8,725 |  |  | (26 | ) |  | 11,532 |  |  | (205 | )
Foreign government securities | 2,393 |  |  | (6 | ) |  | 4,154 |  |  | (24 | )
Total | $ | 976,725 |  |  | $ | (3,693 | ) |  | $ | 1,020,199 |  |  | $ | (17,272 | )
There were 547 securities and 577 securities in an unrealized loss position for more than twelve months at May 31, 2019 and at November 30, 2018, respectively.
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 May 31, 2019 (in thousands):
| Amortized Cost |  | Estimated Fair Value
Due within one year | $ | 612,044 |  |  | $ | 610,831 |
Due between one and two years | 587,933 |  |  | 586,542 |
Due between two and three years | 136,276 |  |  | 136,058 |
Due after three years | 62,634 |  |  | 62,638 |
Total | $ | 1,398,887 |  |  | $ | 1,396,069 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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