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Fair Value Measurements (Tables)

3 Months Ended

Feb. 28, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements within the Fair Value Hierarchy of the Financial Assets

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2014 (in thousands):

					Fair Value Measurements Using
	Total Fair Value				Level 1				Level 2				Level 3
Assets
Money market funds	$	58,557			$	58,557			$	—			$	—
State and municipal bond obligations	28,693				—				28,693				—
Auction rate securities – municipal bonds	22,233				—				—				22,233
Auction rate securities – student loans	2,877				—				—				2,877
Foreign exchange derivatives	(116		)		—				(116		)		—
Liabilities
Contingent consideration	$	(393	)		$	—			$	—			$	(393	)

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2013 (in thousands):

					Fair Value Measurements Using
	Total Fair Value				Level 1				Level 2				Level 3
Assets
Money market funds	$	54,513			$	54,513			$	—			$	—
State and municipal bond obligations	31,102				—				31,102				—
Auction rate securities – municipal bonds	23,453				—				1,520				21,933
Auction rate securities – student loans	2,828				—				—				2,828
Foreign exchange derivatives	171				—				171				—
Liabilities
Contingent consideration	(388		)		—				—				(388		)

Quantitative Information about Unobservable Inputs

The following table provides additional quantitative information about the unobservable inputs used in our Level 3 asset valuations as of February 28, 2014:

	Valuation Technique		Unobservable Input		Range (Weighted Average)
Auction rate securities	Discounted cash flow		Probability of earning the maximum rate until maturity		0.2% - 10.8% (1.9%)
			Probability of principal return prior to maturity		75.1% - 94.7% (86.5%)
			Probability of default		4.3% - 24.7% (11.6%)
			Liquidity risk premium		3.5%
			Recovery rate in default		50% - 70% (56.5%)

Activity for Financial Assets Measured at Fair Value Using Level 3 Inputs

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 28, 2014				February 28, 2013
Balance, beginning of period	$	24,761			$	26,321
Redemptions and sales	—				(25		)
Transfer to Level 2 fair value measurement	—				—
Unrealized gains included in accumulated other comprehensive loss	349				146
Balance, end of period	$	25,110			$	26,442

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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- Definition

Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258

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