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SHARE-BASED COMPENSATION:
 12 Months Ended
Nov. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based compensation
SHARE-BASED COMPENSATION:
The Company recognizes share-based compensation expense for all share-based awards made to employees and directors, including employee stock options, restricted stock awards, restricted stock units and employee stock purchases, based on estimated fair values.
The Company recorded share-based compensation expense in the consolidated statements of operations for fiscal years 2015, 2014 and 2013 as follows: 
 
Fiscal Years Ended November 30,
 
2015
 
2014
 
2013
Cost of revenue
$
571

 
$
646

 
$
—

Selling, general and administrative expenses
13,133

 
13,430

 
9,174

Total share-based compensation
13,704

 
14,076

 
9,174

Tax effect on share-based compensation
(4,967
)
 
(5,156
)
 
(3,304
)
Net effect on net income
$
8,737

 
$
8,920

 
$
5,870

 
Valuation Assumptions 
The Company estimates the fair value of share-based payment awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service period in the Company’s financial statements.
The Company uses the Black-Scholes valuation model to estimate fair value of stock options. The Black-Scholes option-pricing model was developed for use in estimating the fair value of short-lived exchange traded options that have no vesting restrictions and are fully transferable. In addition, option-pricing models require the input of highly subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The expected stock price volatility assumption was determined using historical volatility of the Company’s common stock.
The fair value of stock awards is determined based on the stock price at the date of grant. For grants that do not accrue dividends or dividend equivalents, the fair value is the stock price reduced by the present value of estimated dividends over the vesting period or performance period.
The Company is required to estimate forfeitures and only record compensation costs for those awards that are expected to vest. The assumptions for forfeitures were determined based on type of award and historical experience. Forfeiture assumptions are adjusted at the point in time a significant change is identified, with any adjustment recorded in the period of change, and the final adjustment at the end of the requisite service period to equal actual forfeitures.
The following assumptions were used in the Black-Scholes valuation model in fiscal years 2015, 2014 and 2013: 
 
Fiscal Years Ended November 30,
 
2015
 
2014
 
2013
Stock option plan:
 
 
 
 
 
Expected life (years)
5.9

 
5.5

 
5.6

Risk free interest rate
1.63
%
 
1.74
%
 
1.61
%
Expected volatility
31.78
%
 
33.40
%
 
38.71
%
Dividend yield
0.90
%
 
0.80
%
 
0.00
%
Employee stock purchase plan:

 

 

Expected life (years)
0.3

 
0.3

 
0.3

Risk free interest rate
0.00% - 0.03%

 
0.02% - 0.07%

 
0.02
%
Expected volatility
29.68% - 38.63%

 
28.39% - 37.40%

 
27.96
%
Dividend yield
0.16% - 0.24%

 
0.00% - 0.02%

 
0.00
%
 
A summary of the activities under the Company’s stock option plan is set forth below:
 
Shares Available
for Grant
 
Options Outstanding
Number of
Shares
 
Weighted-Average
Exercise Price
Per Share
Balances, November 30, 2014
2,146

 
750

 
$34.17
Restricted stock awards granted
(157
)
 
—

 
—
Restricted stock units granted
(30
)
 
—

 
—
Restricted stock cancelled/forfeited
86

 
—

 
—
Options granted
(78
)
 
78

 
$89.21
Options exercised
—

 
(170
)
 
$23.38
Options cancelled/forfeited/expired
1

 
(1
)
 
$17.17
Balances, November 30, 2015
1,968

 
657

 
$43.50
 
Employee Stock Options 
The weighted-average grant-date fair values of the stock options granted during fiscal years 2015, 2014 and 2013 were $26.70, $19.34, and $23.62, respectively. As of November 30, 2015, 657 options were outstanding and expected to vest with a weighted average life of 6.28 years, a weighted average exercise price of $43.50 per option and an aggregate pre-tax intrinsic value of $33,330. As of November 30, 2015, 430 options were vested and exercisable with a weighted average life of 5.00 years, a weighted average exercise price of $31.43 per share and an aggregate pre-tax intrinsic value of $27,009. 
The cash received from the exercise of options and the intrinsic values of options exercised during fiscal years 2015, 2014 and 2013 were as follows:
 
Fiscal Years Ended November 30,
 
2015
 
2014
 
2013
Intrinsic value of options exercised
$
9,338

 
$
11,500

 
$
10,749

Cash received from exercise of options
3,984

 
5,873

 
7,163


The Company settles employee stock option exercises with newly issued common shares.
As of November 30, 2015, the unamortized share-based compensation expense related to unvested stock options under the 2003 Stock Incentive Plan and 2013 Stock Incentive Plan was $5,015 which will be recognized over an estimated weighted-average amortization period of 3.80 years.
Restricted Stock Awards and Restricted Stock Units 
A summary of the changes in the Company's nonvested restricted stock awards and stock units during the fiscal year 2015 is presented below:
 
Number of
shares
 
Weighted-average,
grant-date
fair value per share
Nonvested as of November 30, 2014
921
 
$45.33
Awards granted
157
 
$87.44
Units granted
30
 
$84.57
Awards and units vested
(303)
 
$41.25
Awards and units cancelled/forfeited
(86)
 
$48.31
Nonvested as of November 30, 2015
719
 
$58.36
 
As of November 30, 2015, there was $32,756 of total unamortized share-based compensation expense related to nonvested restricted stock awards and stock units granted under the 2003 Stock Incentive Plan and the 2013 Stock Incentive Plan. That cost is expected to be recognized over an estimated weighted-average amortization period of 3.64 years.