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Stock-Based Compensation (Tables)

12 Months Ended

Nov. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of stock option activity under all the plans is as follows:

			Shares						Weighted Average						Weighted Average Remaining Contractual Term						Aggregate Intrinsic Value(1)
			(in thousands)						Exercise Price						(in years)						(in thousands)
Options outstanding, December 1, 2019			1,423						$	37.26
Granted			611						43.34
Exercised			(137)						31.84
Canceled			(224)						42.08
Options outstanding, November 30, 2020			1,673						$	39.28					4.9						$	7,125
Exercisable, November 30, 2020			711						$	37.28					4.0						$	4,315
Vested or expected to vest, November 30, 2020			1,672						$	39.28					4.9						$	7,125

(1)The aggregate intrinsic value was calculated based on the difference between the closing price of our stock on November 30, 2020 of $40.39 and the exercise prices for all options outstanding.

Summary of Status of Restricted Stock Units

A summary of restricted stock units' activity is as follows (in thousands, except per share data):

			Number of Shares						Weighted Average Fair Value
Restricted stock units outstanding, December 1, 2019			829						$	38.15
Granted			538						43.80
Issued			(416)						36.20
Canceled			(155)						39.96
Restricted stock units outstanding, November 30, 2020			796						$	42.65

Schedule of Valuation Assumptions

We estimated the fair value of stock options and ESPP awards granted in fiscal years 2020, 2019 and 2018 on the measurement dates using the Black-Scholes option valuation model, and LTIP awards using the Monte Carlo Simulation valuation model, with the following weighted average assumptions:

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
Stock options:
Expected volatility			29.0		%				25.0		%				22.8		%
Risk-free interest rate			1.1		%				2.5		%				2.3		%
Expected life (in years)			4.8						4.8						4.8
Expected dividend yield			1.6		%				1.8		%				1.1		%
Employee stock purchase plan:
Expected volatility			38.2		%				30.6		%				23.8		%
Risk-free interest rate			0.2		%				2.3		%				2.3		%
Expected life (in years)			1.3						1.6						1.7
Expected dividend yield			2.0		%				1.7		%				1.5		%
Long-term incentive plan:
Expected volatility			34.7		%				32.2		%				27.4		%
Risk-free interest rate			1.1		%				2.5		%				2.1		%
Expected life (in years)			2.8						2.8						2.9
Expected dividend yield			—		%				1.7		%				1.7		%

Stock Options and Stock Awards Activity

The following additional activity occurred under our plans (in thousands):

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
Total intrinsic value of stock options on date exercised			$	1,340					$	1,388					$	3,692
Total fair value of deferred stock units on date vested			1,547						1,853						1,690
Total fair value of restricted stock units on date vested			15,499						14,720						14,741

Classification of Stock-Based Compensation

The following table provides the classification of stock-based compensation as reflected in our consolidated statements of operations (in thousands):

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
Cost of maintenance and services			$	1,336					$	1,134					$	616
Sales and marketing			4,462						4,155						2,959
Product development			7,286						7,205						8,242
General and administrative			10,398						10,817						8,752
Total stock-based compensation			$	23,482					$	23,311					$	20,569
Income tax benefit included in the provision for income taxes			$	4,541					$	4,661					$	4,345

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