Derivative Instruments

12 Months Ended

Nov. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

We generally use forward contracts that are not designated as hedging instruments to hedge economically the impact of the variability in exchange rates on intercompany accounts receivable and loans receivable denominated in certain foreign currencies. We generally do not hedge the net assets of our international subsidiaries.

All forward contracts are recorded at fair value on the consolidated balance sheets at the end of each reporting period and expire between 30 days and 366 days from the date the contract was entered. At November 30, 2018, $0.3 million and $0.1 million was recorded in other noncurrent liabilities and other current assets on the consolidated balance sheet, respectively. At November 30, 2017, $0.2 million and $0.2 million was recorded in other accrued liabilities and other assets on the consolidated balance sheet, respectively. In fiscal year 2018, realized and unrealized losses of $6.9 million from our forward contracts were recognized in foreign currency loss, net on the consolidated statement of operations. In fiscal years 2017 and 2016, realized and unrealized gains of $9.4 million and realized and unrealized losses of $4.0 million, respectively, from our forward contracts were recognized in foreign currency loss, net on the consolidated statements of operations. These losses and gains were substantially offset by realized and unrealized gains and losses on the offsetting positions.

The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands):



	November 30, 2018					November 30, 2017
	Notional Value		Fair Value			Notional Value		Fair Value
Forward contracts to sell U.S. dollars	$	105,830	$	(170	)	$	119,192	$	(27	)
Forward contracts to purchase U.S. dollars	240		—			462		—
Total	$	106,070	$	(170	)	$	119,654	$	(27	)