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Nature of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Nov. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Allowances Against Accounts Receivable | A summary of activity in the allowance for doubtful accounts is as follows (in thousands):
| November 30, 2019 |  | November 30, 2018 |  | November 30, 2017
|  |  | As Adjusted(1) |  |
Beginning balance | $ | 574 |  |  | $ | 498 |  |  | $ | 741 |
ASC 606 adjustment | — |  |  | 88 |  |  | — |
Charge to costs and expenses | 606 |  |  | 216 |  |  | 204 |
Write-offs and other | (457 | ) |  | (232 | ) |  | (437 | )
Translation adjustments | (56 | ) |  | 4 |  |  | (10 | )
Ending balance | $ | 667 |  |  | $ | 574 |  |  | $ | 498 |
(1)The Company adopted the accounting standard related to revenue recognition ("ASC 606") effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Summary of Significant Accounting Policies for further information.
Schedule of Activity in Allowance for Sales Credit Memos | A summary of activity in the allowance for sales credit memos is as follows (in thousands):
| November 30, 2019 |  | November 30, 2018 |  | November 30, 2017
|  |  | As Adjusted(1) |  |
Beginning balance | $ | 266 |  |  | $ | 178 |  |  | $ | 402 |
ASC 606 adjustment | — |  |  | 41 |  |  | — |
Charge (credit) to revenue | (60 | ) |  | 46 |  |  | (158 | )
Write-offs and other | (46 | ) |  | — |  |  | (69 | )
Translation adjustments | (2 | ) |  | 1 |  |  | 3 |
Ending balance | $ | 158 |  |  | $ | 266 |  |  | $ | 178 |
(1)The Company adopted the accounting standard related to revenue recognition ("ASC 606") effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Summary of Significant Accounting Policies for further information.
Accumulated Other Comprehensive (Loss) Income | Accumulated other comprehensive loss by components, net of tax (in thousands):
| Foreign Currency Translation Adjustment |  | Unrealized (Losses) Gains on Investments |  | Unrealized Loss on Hedging Activity |  | Total
Balance, December 1, 2017 | $ | (18,177 | ) |  | $ | (229 | ) |  | $ | — |  |  | $ | (18,406 | )
Other comprehensive (loss) income | (9,796 | ) |  | 26 |  |  | — |  |  | (9,770 | )
Balance, December 1, 2018 | $ | (27,973 | ) |  | $ | (203 | ) |  | $ | — |  |  | $ | (28,176 | )
Other comprehensive (loss) income | (420 | ) |  | 173 |  |  | (1,551 | ) |  | (1,798 | )
Balance, November 30, 2019 | $ | (28,393 | ) |  | $ | (30 | ) |  | $ | (1,551 | ) |  | $ | (29,974 | )
Schedule of Contract with Customer, Asset and Liability | As of November 30, 2019, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands):
2021 | $ | 11,731 |
2022 | 761 |
Total | $ | 12,492 |
As of November 30, 2019, the changes in deferred revenue were as follows (in thousands):
Balance, December 1, 2018 As Adjusted(1) | $ | 135,940 |
Billings and other | 454,604 |
Revenue recognized | (413,298 | )
Balance, November 30, 2019 | $ | 177,246 |
(1)The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | 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
| Fiscal Year Ended
| November 30, 2018 |  | November 30, 2017
(In thousands, except per share data) | As Reported |  | Adjustments |  | As Adjusted |  | As Reported |  | Adjustments |  | As Adjusted
Revenue: |  |  |  |  |  |  |  |  |  |  |
Software licenses | $ | 122,137 |  |  | $ | (22,337 | ) |  | $ | 99,800 |  |  | $ | 124,406 |  |  | $ | (10,763 | ) |  | $ | 113,643 |
Maintenance and services | 275,028 |  |  | 4,153 |  |  | 279,181 |  |  | 273,166 |  |  | 2,345 |  |  | 275,511 |
Total revenue | 397,165 |  |  | (18,184 | ) |  | 378,981 |  |  | 397,572 |  |  | (8,418 | ) |  | 389,154 |
Costs of revenue | 66,973 |  |  | — |  |  | 66,973 |  |  | 69,159 |  |  | — |  |  | 69,159 |
Gross Profit | 330,192 |  |  | (18,184 | ) |  | 312,008 |  |  | 328,413 |  |  | (8,418 | ) |  | 319,995 |
Operating expenses | 244,194 |  |  | — |  |  | 244,194 |  |  | 257,799 |  |  | 4,706 |  |  | 262,505 |
Income from operations | 85,998 |  |  | (18,184 | ) |  | 67,814 |  |  | 70,614 |  |  | (13,124 | ) |  | 57,490 |
Other expense, net | (7,018 | ) |  | — |  |  | (7,018 | ) |  | (5,027 | ) |  | — |  |  | (5,027 | )
Income before income taxes | 78,980 |  |  | (18,184 | ) |  | 60,796 |  |  | 65,587 |  |  | (13,124 | ) |  | 52,463 |
Provision for income taxes | 15,489 |  |  | (4,363 | ) |  | 11,126 |  |  | 28,170 |  |  | (4,728 | ) |  | 23,442 |
Net income | $ | 63,491 |  |  | $ | (13,821 | ) |  | $ | 49,670 |  |  | $ | 37,417 |  |  | $ | (8,396 | ) |  | $ | 29,021 |
Earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 1.39 |  |  | $ | (0.30 | ) |  | $ | 1.09 |  |  | $ | 0.78 |  |  | $ | (0.18 | ) |  | $ | 0.60 |
Diluted | $ | 1.38 |  |  | $ | (0.30 | ) |  | $ | 1.08 |  |  | $ | 0.77 |  |  | $ | (0.17 | ) |  | $ | 0.60 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |
Basic | 45,561 |  |  | — |  |  | 45,561 |  |  | 48,129 |  |  | — |  |  | 48,129 |
Diluted | 46,135 |  |  | — |  |  | 46,135 |  |  | 48,516 |  |  | — |  |  | 48,516 |

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