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Basis of Presentation (Tables) | 9 Months Ended
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Aug. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Contract with Customer, Asset and Liability | As of August 31, 2019, the changes in deferred revenue were as follows (in thousands):
Balance, December 1, 2018 As Adjusted(1) | $ | 135,940 |
Billings and other | 320,846 |
Revenue recognized | (296,260 | )
Balance, August 31, 2019 | $ | 160,526 |
(1)The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method.
As of August 31, 2019, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands):
2020 | $ | 1,001 |
2021 | 8,234 |
2022 | 752 |
Total | $ | 9,987 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The impact of the adoption of this standard on our previously reported consolidated balance sheet and consolidated statements of operations is as follows: Consolidated Balance Sheet
| November 30, 2018
(in thousands) | As Reported |  | Adjustments |  | As Adjusted
Assets |  |  |  |  |
Accounts receivable, net | $ | 58,450 |  |  | $ | 1,265 |  |  | $ | 59,715 |
Short-term unbilled receivables | — |  |  | 1,421 |  |  | 1,421 |
Long-term unbilled receivables | — |  |  | 1,811 |  |  | 1,811 |
Deferred tax assets | 1,922 |  |  | (956 | ) |  | 966 |
Other assets(1) | 580,237 |  |  | — |  |  | 580,237 |
Total assets | $ | 640,609 |  |  | $ | 3,541 |  |  | $ | 644,150 |
Liabilities and shareholders’ equity |  |  |  |  |
Short-term deferred revenue | 133,194 |  |  | (9,984 | ) |  | 123,210 |
Long-term deferred revenue | 15,127 |  |  | (2,397 | ) |  | 12,730 |
Deferred tax liabilities | 3,797 |  |  | 2,002 |  |  | 5,799 |
Other liabilities(2) | 178,409 |  |  | — |  |  | 178,409 |
Retained earnings | 71,242 |  |  | 13,883 |  |  | 85,125 |
Accumulated other comprehensive loss | (28,213 | ) |  | 37 |  |  | (28,176 | )
Other equity(3) | 267,053 |  |  | — |  |  | 267,053 |
Total liabilities and shareholders’ equity | $ | 640,609 |  |  | $ | 3,541 |  |  | $ | 644,150 |
(1)Includes cash and cash equivalents, short-term investments, other current assets, assets held for sale, property and equipment, net, intangible assets, net, goodwill, and other assets.
(2)Includes current portion of long-term debt, net, accounts payable, accrued compensation and related taxes, dividends payable, income taxes payable, other accrued liabilities, long-term debt, net, and other noncurrent liabilities.
(3)Includes common stock and additional paid-in capital.
Consolidated Statements of Income
| August 31, 2018
| Three Months Ended |  | Nine Months Ended
(In thousands, except per share data) | As Reported |  | Adjustments |  | As Adjusted |  | As Reported |  | Adjustments |  | As Adjusted
Revenue: |  |  |  |  |  |  |  |  |  |  |
Software licenses | $ | 27,204 |  |  | $ | (4,352 | ) |  | $ | 22,852 |  |  | $ | 78,986 |  |  | $ | (7,554 | ) |  | $ | 71,432 |
Maintenance and services | 68,479 |  |  | 1,272 |  |  | 69,751 |  |  | 206,846 |  |  | 2,599 |  |  | 209,445 |
Total revenue | 95,683 |  |  | (3,080 | ) |  | 92,603 |  |  | 285,832 |  |  | (4,955 | ) |  | 280,877 |
Costs of revenue | 16,696 |  |  | — |  |  | 16,696 |  |  | 50,242 |  |  | — |  |  | 50,242 |
Gross Profit | 78,987 |  |  | (3,080 | ) |  | 75,907 |  |  | 235,590 |  |  | (4,955 | ) |  | 230,635 |
Operating expenses | 56,804 |  |  | — |  |  | 56,804 |  |  | 173,851 |  |  | — |  |  | 173,851 |
Income from operations | 22,183 |  |  | (3,080 | ) |  | 19,103 |  |  | 61,739 |  |  | (4,955 | ) |  | 56,784 |
Other expense, net | (1,961 | ) |  | — |  |  | (1,961 | ) |  | (4,830 | ) |  | — |  |  | (4,830 | )
Income before income taxes | 20,222 |  |  | (3,080 | ) |  | 17,142 |  |  | 56,909 |  |  | (4,955 | ) |  | 51,954 |
Provision for income taxes | 3,476 |  |  | (724 | ) |  | 2,752 |  |  | 11,848 |  |  | (920 | ) |  | 10,928 |
Net income | $ | 16,746 |  |  | $ | (2,356 | ) |  | $ | 14,390 |  |  | $ | 45,061 |  |  | $ | (4,035 | ) |  | $ | 41,026 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.37 |  |  | $ | (0.05 | ) |  | $ | 0.32 |  |  | $ | 0.99 |  |  | $ | (0.09 | ) |  | $ | 0.90 |
Diluted | $ | 0.37 |  |  | $ | (0.05 | ) |  | $ | 0.32 |  |  | $ | 0.97 |  |  | $ | (0.09 | ) |  | $ | 0.88 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |
Basic | 45,130 |  |  | — |  |  | 45,130 |  |  | 45,730 |  |  | — |  |  | 45,730 |
Diluted | 45,576 |  |  | — |  |  | 45,576 |  |  | 46,380 |  |  | — |  |  | 46,380 |

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