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Stock-Based Compensation (Tables) | 12 Months Ended
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Nov. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule 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, 2021 | 2,015 |  |  | $ | 40.67 |  |  |  |  |
Granted | 823 |  |  | 44.30 |  |  |  |  |
Exercised | (174) |  |  | 39.04 |  |  |  |  |
Canceled | (184) |  |  | 44.18 |  |  |  |  |
Options outstanding, November 30, 2022 | 2,480 |  |  | $ | 41.73 |  |  | 4.3 |  | $ | 27,609 |
Exercisable, November 30, 2022 | 1,244 |  |  | $ | 40.00 |  |  | 3.1 |  | $ | 15,986 |
Vested or expected to vest, November 30, 2022 | 2,480 |  |  | $ | 41.73 |  |  | 4.3 |  | $ | 27,609 |
(1)The aggregate intrinsic value was calculated based on the difference between the closing price of our stock on November 30, 2022 and the exercise prices for all options outstanding.
Schedule 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, 2021 | 878 |  |  | $ | 43.06 |
Granted | 778 |  |  | 44.24 |
Issued | (466) |  |  | 41.04 |
Canceled | (139) |  |  | 44.52 |
Restricted stock units outstanding, November 30, 2022 | 1,051 |  |  | $ | 44.80 |
Schedule of Valuation Assumptions | We estimated the fair value of stock options and ESPP awards granted in fiscal years 2022, 2021, and 2020 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, 2022 |  | November 30, 2021 |  | November 30, 2020
Stock options: |  |  |  |  |
Expected volatility | 31.0 | % |  | 30.0 | % |  | 29.0 | %
Risk-free interest rate | 1.9 | % |  | 0.5 | % |  | 1.1 | %
Expected life (in years) | 4.8 |  | 4.8 |  | 4.8
Expected dividend yield | 1.6 | % |  | 1.6 | % |  | 1.6 | %
Employee stock purchase plan: |  |  |  |  |
Expected volatility | 31.8 | % |  | 33.1 | % |  | 38.2 | %
Risk-free interest rate | 2.4 | % |  | 0.1 | % |  | 0.2 | %
Expected life (in years) | 1.2 |  | 1.3 |  | 1.3
Expected dividend yield | 1.5 | % |  | 1.5 | % |  | 2.0 | %
Long-term incentive plan: |  |  |  |  |
Expected volatility | 35.1 | % |  | 36.3 | % |  | 34.7 | %
Risk-free interest rate | 1.3 | % |  | 0.2 | % |  | 1.1 | %
Expected life (in years) | 2.9 |  | 2.8 |  | 2.8
Expected dividend yield | — | % |  | — | % |  | — | %
Schedule of Stock Options and Stock Awards Activity | The following additional activity occurred under our plans (in thousands):
| Fiscal Year Ended
| November 30, 2022 |  | November 30, 2021 |  | November 30, 2020
Total intrinsic value of stock options on date exercised | $ | 1,717 |  |  | $ | 2,523 |  |  | $ | 1,340 |
Total fair value of deferred stock units on date vested | 2,029 |  |  | 2,084 |  |  | 1,547 |
Total fair value of restricted stock units on date vested | 25,597 |  |  | 16,018 |  |  | 15,499 |
Schedule of 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, 2022 |  | November 30, 2021 |  | November 30, 2020
Cost of maintenance and services | $ | 1,969 |  |  | $ | 1,561 |  |  | $ | 1,336 |
Sales and marketing | 4,884 |  |  | 6,055 |  |  | 4,462 |
Product development | 10,326 |  |  | 8,104 |  |  | 7,286 |
General and administrative | 19,915 |  |  | 14,004 |  |  | 10,398 |
Total stock-based compensation | $ | 37,094 |  |  | $ | 29,724 |  |  | $ | 23,482 |
Income tax benefit included in the provision for income taxes | $ | 6,344 |  |  | $ | 5,281 |  |  | $ | 4,541 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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