Cash, Cash Equivalents And Investments (Tables)

A summary of our cash, cash equivalents and trading and available-for-sale investments at February 29, 2012 is as follows (in thousands):


	Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	199,407	$	—	$	—		$	199,407
Money market funds		32,288		—		—			32,288
State and municipal bond obligations		77,955		329		(5	)		78,279
Auction rate securities – municipal bonds		27,175		—		(4,209	)		22,966
Auction rate securities – student loans		12,500		—		(2,123	)		10,377
Corporate bonds		5,191		—		(1	)		5,190

Total	$	354,516	$	329	$	(6,338	)	$	348,507

A summary of our cash, cash equivalents and trading and available-for-sale investments at November 30, 2011 is as follows (in thousands):


	Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	134,890	$	—	$	—		$	134,890
Money market funds		24,220		—		—			24,220
State and municipal bond obligations		84,193		221		(16	)		84,398
Brazilian mutual funds		15,346		—		—			15,346
Auction rate securities – municipal bonds		27,200		—		(4,269	)		22,931
Auction rate securities – student loans		12,700		—		(2,092	)		10,608
Corporate bonds		2,562		—		—			2,562

Total	$	301,111	$	221	$	(6,377	)	$	294,955


	February 29, 2012						November 30, 2011
	Cash and Equivalents		Short-Term Investments		Long-Term Investments		Cash and Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	199,407	$	—	$	—	$	134,890	$	—	$	—
Money market funds		32,288		—		—		24,220		—		—
State and municipal bond obligations		—		78,279		—		1,985		82,413		—
Brazilian mutual funds		—		—		—		—		15,346		—
Auction rate securities – municipal bonds		—		—		22,966		—		—		22,931
Auction rate securities – student loans		—		—		10,377		—		—		10,608
Corporate bonds		—		5,190		—		—		2,562		—

Total	$	231,695	$	83,469	$	33,343	$	161,095	$	100,321	$	33,539


	February 29, 2012		November 30, 2011
Due in one year or less ⁽¹⁾	$	83,475	$	104,620
Due after one year		33,337		31,225

Total	$	116,812	$	135,845

(1)

Includes ARS which are tendered for interest-rate setting purposes periodically throughout the year. Beginning in February 2008, auctions for these securities began to fail, and therefore these investments currently lack short-term liquidity. The remaining contractual maturities of these securities range from 12 to 31 years.

Investments with continuous unrealized losses and their related fair values are as follows at February 29, 2012 (in thousands):


	Less Than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal bond obligations	$	9,347	$	(5	)	$	—	$	—		$	9,347	$	(5	)
Auction rate securities – municipal bonds		—		—			22,966		(4,209	)		22,966		(4,209	)
Auction rate securities – student loans		—		—			10,377		(2,123	)		10,377		(2,123	)
Corporate bonds		3,853		(1	)							3,853		(1	)

Total	$	13,200	$	(6	)	$	33,343	$	(6,332	)	$	46,543	$	(6,338	)

Investments with continuous unrealized losses and their related fair values are as follows at November 30, 2011 (in thousands):


	Less Than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal bond obligations	$	24,585	$	(16	)	$	—	$	—		$	24,585	$	(16	)
Auction rate securities – municipal bonds		—		—			22,931		(4,269	)		22,931		(4,269	)
Auction rate securities – student loans		—		—			10,608		(2,092	)		10,608		(2,092	)

Total	$	24,585	$	(16	)	$	33,539	$	(6,361	)	$	58,124	$	(6,377	)