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Acquisitions
 12 Months Ended
Dec. 01, 2023
Business Combination and Asset Acquisition [Abstract]  
ACQUISITIONS ACQUISITIONS
Figma
On September 15, 2022, we entered into a definitive merger agreement under which we intended to acquire Figma, Inc. (“Figma”) for approximately $20 billion, comprised of approximately half cash and half stock.
On December 17, 2023, we entered into a mutual termination agreement with Figma to terminate the proposed merger. In accordance with the terms of the termination agreement, on December 20, 2023, we paid Figma a termination fee of $1 billion, which we recorded in operating expenses in the first quarter of fiscal year 2024.
Frame.io
On October 7, 2021, we completed the acquisition of Frame.io, a privately held company that provides a cloud-based video collaboration platform, for approximately $1.24 billion, primarily in cash consideration. The financial results of Frame.io have been included in our Consolidated Financial Statements since the date of the acquisition. Frame.io is reported as part of our Digital Media reportable segment.
The table below represents the final purchase price allocation to total identifiable intangible assets acquired and net liabilities assumed based on their respective estimated fair values as of October 7, 2021.
(dollars in millions)AmountWeighted Average Useful Life (years)
Purchased technology$331 4
In-process research and development (1)
19 N/A
Trademarks4 3
Customer contracts and relationships3 10
Total identifiable intangible assets357 
Net liabilities assumed(36)N/A
Goodwill (2)
915 N/A
Total purchase price$1,236 
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(1)    Capitalized as purchased technology and considered indefinite lived until the completion or abandonment of the associated research and development efforts.
(2)    Non-deductible for tax purposes.
Workfront
On December 7, 2020, we completed the acquisition of Workfront, a privately held company that provides a workflow platform, for approximately $1.52 billion in cash consideration. The financial results of Workfront have been included in our Consolidated Financial Statements since the date of the acquisition. Workfront is reported as part of our Digital Experience reportable segment.
The table below represents the final purchase price allocation to total identifiable intangible assets acquired and net liabilities assumed based on their respective estimated fair values as of December 7, 2020.
(dollars in millions)AmountWeighted Average Useful Life (years)
Customer contracts and relationships$290 10
Purchased technology100 3
Backlog40 2
Trademarks30 5
Total identifiable intangible assets460 
Net liabilities assumed(31)N/A
Goodwill (1)
1,095 N/A
Total purchase price$1,524 
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(1)    Non-deductible for tax purposes.