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LEASES | 12 Months Ended
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Nov. 30, 2024
Leases [Abstract] |
LEASES | LEASES: The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2037. The Company’s finance leases are not material. The following table presents the various components of operating lease costs:
| Fiscal Years Ended November 30,
| 2024 |  | 2023 |  | 2022
Operating lease cost | $ | 295,111 |  |  | $ | 216,774 |  |  | $ | 199,609 |
Short-term lease cost | 89,001 |  |  | 21,802 |  |  | 20,451 |
Variable lease cost | 44,237 |  |  | 58,283 |  |  | 45,997 |
Sublease income | (4,492) |  |  | (5,394) |  |  | (3,226) |
Total operating lease cost | $ | 423,857 |  |  | $ | 291,465 |  |  | $ | 262,831 |
The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of November 30, 2024:
Fiscal Years Ending November 30, |
2025 | $ | 293,978 |
2026 | 231,818 |
2027 | 176,497 |
2028 | 134,446 |
2029 | 80,569 |
Thereafter | 109,030 |
Total payments | 1,026,338 |
Less: imputed interest* | 164,538 |
Total present value of lease payments | $ | 861,800 |
*Imputed interest represents the difference between undiscounted cash flows and discounted cash flows. The following amounts were recorded in the consolidated balance sheet as of November 30, 2024 and 2023 related to the Company’s operating leases:
|  |  |  | As of November 30,
Operating leases |  | Balance sheet location |  | 2024 |  | 2023
Operating lease ROU assets |  | Other assets, net |  | $ | 816,550 |  |  | $ | 813,590 |
Current operating lease liabilities |  | Other accrued liabilities |  | 235,912 |  |  | 229,010 |
Non-current operating lease liabilities |  | Other long-term liabilities |  | 625,888 |  |  | 623,290 |
The following table presents supplemental cash flow information related to the Company’s operating leases. Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below:
|  | Fiscal Years Ended November 30,
Cash flow information |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 310,859 |  |  | $ | 225,142 |  |  | $ | 196,168 |
Non-cash ROU assets obtained in exchange for lease liabilities |  | 295,894 |  |  | 152,071 |  |  | 191,055 |
The weighted-average remaining lease term and discount rate as of November 30, 2024 and 2023, respectively, were as follows:
|  | As of November 30,
Operating lease term and discount rate |  | 2024 |  | 2023
Weighted-average remaining lease term (years) |  | 4.50 |  | 4.88
Weighted-average discount rate |  | 6.91 | % |  | 6.41 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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