v2.4.0.6
Fair Value Measurements
 3 Months Ended
Feb. 29, 2012
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 4: Fair Value Measurements

The following table details the fair value measurements within the fair value hierarchy of our financial assets at February 29, 2012 (in thousands):

 

            Fair Value Measurements Using  
     Total Fair
Value		      Level 1      Level 2      Level 3  

Money market funds

    $ 32,288       $ 32,288       $ —         $ —     

State and municipal bond obligations

      78,279         —           78,279         —     

Auction rate securities – municipal bonds

      22,966         —           —           22,966   

Auction rate securities – student loans

      10,377         —           —           10,377   

Corporate bonds

      5,190         —           5,190         —     

Foreign exchange derivatives

      106         —           106         —     

The following table details the fair value measurements within the fair value hierarchy of our financial assets at November 30, 2011 (in thousands):

 

            Fair Value Measurements Using  
     Total Fair
Value		      Level 1      Level 2      Level 3  

Money market funds

    $ 24,220       $ 24,220       $ —         $ —     

State and municipal bond obligations

      84,398         —           84,398         —     

Brazilian mutual funds

      15,346         15,346         —           —     

Auction rate securities – municipal bonds

      22,931         —           —           22,931   

Auction rate securities – student loans

      10,608         —           —           10,608   

Corporate bonds

      2,562         —           2,562         —     

Foreign exchange derivatives

      52         —           52         —     

The valuation technique used to measure fair value for our Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. The valuation technique used to measure fair value for our Level 3 assets is an income approach, where the expected weighted average future cash flows were discounted back to present value for each asset.

The following table reflects the activity for our financial assets measured at fair value using Level 3 inputs for each period presented (in thousands):

 

     Three Months Ended  
     February 29,
2012		     February 28,
2011		  

Balance, beginning of period

    $ 33,539      $ 39,643   

Redemptions and repurchases

      (225 )      (200 ) 

Unrealized gains included in accumulated other comprehensive loss

      29        396   
  

 

 

    

 

 

  

Balance, end of period

    $ 33,343      $ 39,839