XML 21 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Nov. 30, 2018
Cash flows from operating activities:      
Net income $ 79,722 $ 26,400 $ 49,670 [1],[2]
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property and equipment 6,144 7,552 6,941 [2]
Amortization of acquired intangibles and other 28,621 49,127 37,561 [2]
Stock-based compensation 23,482 23,311 20,569 [2]
Non-cash lease expense 8,609    
Loss on disposal of property and equipment 1,025 376 390 [2]
Loss on assets held for sale 0 0 5,147 [1],[2]
Impairment of intangible and long-lived assets 0 24,096 0 [2]
Deferred income taxes (2,622) (14,869) (2,328) [2]
Allowances for bad debt and sales credits 164 546 262 [2]
Gain on sale of intangible assets (889) 0 0 [2]
Changes in operating assets and liabilities:      
Accounts receivable and unbilled receivables 10,682 (24,655) 18,708 [2]
Other assets 1,561 (1,902) (10,332) [2]
Accounts payable and accrued liabilities (4,974) 9,116 (11,842) [2]
Lease liabilities (8,101)    
Income taxes payable 3 (454) (2,890) [2]
Deferred revenue 1,420 29,840 9,496 [2]
Net cash flows from operating activities 144,847 128,484 121,352 [2]
Cash flows (used in) from investing activities:      
Purchases of investments (5,009) (10,550) (8,258) [2]
Sales and maturities of investments 16,401 25,320 23,101 [2]
Purchases of property and equipment (6,517) (3,998) (7,250) [2]
Payments for acquisitions, net of cash acquired (213,057) (225,298) 0 [2]
Proceeds from sale of long-lived assets, net 889 6,146 [2]
Net cash flows (used in) from investing activities (207,293) (208,380) 7,593 [2]
Cash flows from (used in) financing activities:      
Proceeds from stock-based compensation plans 11,099 9,265 9,205 [2]
Payments for taxes related to net share settlements of equity awards (5,331) (4,278) (3,999) [2]
Repurchases of common stock (60,000) (25,000) (120,000) [2]
Dividend payments to shareholders (29,900) (27,760) (25,789) [2]
Proceeds from the issuance of debt 98,500 184,985 0 [2]
Payment of principal on long-term debt (11,288) (5,309) (6,188) [2]
Payment of issuance costs for long-term debt 0 (1,611) 0 [2]
Net cash flows from (used in) financing activities 3,080 130,292 (146,771) [2]
Effect of exchange rate changes on cash 3,097 (1,263) (10,512) [2]
Net (decrease) increase in cash and cash equivalents (56,269) 49,133 (28,338) [2]
Cash and cash equivalents, beginning of year 154,259 105,126 [2] 133,464 [2]
Cash and cash equivalents, end of year 97,990 154,259 105,126 [2]
Supplemental disclosure:      
Cash paid for income taxes, net of refunds of $724 in 2020, $1,385 in 2019 and $909 in 2018 16,107 16,340 25,451
Cash paid for interest 9,175 8,666 4,220
Non-cash investing and financing activities:      
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested 17,046 16,573 16,431
Dividends declared $ 7,904 $ 7,498 $ 6,998
[1] (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.
[2] (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.