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Income Taxes (Tables)

12 Months Ended

Nov. 30, 2020

Income Tax Disclosure [Abstract]

Components of Pretax Income

The components of income before income taxes are as follows (in thousands):

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
															As Adjusted(1)
U.S.			$	83,279					$	(11,778)					$	59,440
Foreign			13,356						40,273						1,356
Total			$	96,635					$	28,495					$	60,796
(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.

Provisions for Income Taxes

The provision for income taxes is comprised of the following (in thousands):

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
Current:
Federal			$	12,294					$	9,294					$	8,979
State			3,871						1,862						1,387
Foreign			3,370						5,808						3,088
Total current			19,535						16,964						13,454
Deferred, as adjusted(1):
Federal			(1,613)						(12,191)						(863)
State			(969)						(2,399)						(51)
Foreign			(40)						(279)						(1,414)
Total deferred			(2,622)						(14,869)						(2,328)
Total			$	16,913					$	2,095					$	11,126
(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.

Reconciliation of U.S. Federal Statutory Rate To Effective Tax Rate

A reconciliation of the income taxes incurred at the U.S. Federal statutory rate compared to the effective tax rate is as follows (in thousands):

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
															As Adjusted(1)
Tax at U.S. Federal statutory rate			$	20,293					$	5,984					$	13,513
Foreign rate differences			(200)						(2,619)						1,281
Effects of foreign operations included in U.S. Federal provision			(167)						451						550
State income taxes, net			2,087						(918)						1,180
Research credits			(905)						(1,086)						(302)
Domestic production activities deduction			—						(248)						(1,283)
Tax-exempt interest			(3)						(27)						(66)
Nondeductible stock-based compensation			422						1,043						502
Meals and entertainment			162						198						192
Compensation subject to 162(m)			324						422						227
Uncertain tax positions and tax settlements			245						(720)						(1,626)
Remeasurement of net deferred tax liabilities due to the Act			—						—						(1,660)
Net excess tax benefit or detriment from stock-based compensation plans			61						(103)						(861)
Global intangible low tax inclusion			(307)						2,100						—
Foreign derived intangible deduction			(5,297)						(2,300)						—
Other			198						(82)						(521)
Total			$	16,913					$	2,095					$	11,126
(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.

Summary of Deferred Taxes

The components of deferred tax assets and liabilities are as follows (in thousands):

			November 30, 2020						November 30, 2019
Deferred tax assets:
Accounts receivable			$	241					$	174
Accrued compensation			2,861						3,283
Accrued liabilities and other			4,430						2,690
Deferred revenue			9,032						3,995
Stock-based compensation			4,814						4,342
Depreciation and amortization			—						15,341
Tax credit and loss carryforwards			42,189						21,867
Operating lease liabilities			5,531						—
Gross deferred tax assets			69,098						51,692
Valuation allowance			(9,876)						(8,864)
Total deferred tax assets			59,222						42,828
Deferred tax liabilities:
Goodwill			(20,624)						(18,879)
Right-of-use lease assets			(4,837)						—
Deferred revenue			(3,027)						(4,541)
Depreciation and amortization			(15,924)						—
Prepaid expenses			(334)						(810)
Total deferred tax liabilities			(44,746)						(24,230)
Total			$	14,476					$	18,598

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the balance of our unrecognized tax benefits is as follows (in thousands):

			Fiscal Year Ended
			November 30, 2020						November 30, 2019						November 30, 2018
Balance, beginning of year			$	4,993					$	5,787					$	7,520
Tax positions related to a prior period			539						110						(15)
Tax positions acquired			1,596						—						—
Settlements with tax authorities			(12)						(181)						(39)
Lapses due to expiration of the statute of limitations			(897)						(723)						(1,679)
Balance, end of year			$	6,219					$	4,993					$	5,787

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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