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Business Combinations (Tables) | 6 Months Ended
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May 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The allocation of the purchase price is as follows (in thousands):
| Initial Purchase Price Allocation |  | Measurement Period Adjustments |  | Adjusted Purchase Price Allocation |  | Life
Net working capital | $ | 49,477 |  |  | $ | (799) |  |  | $ | 48,678 |  |  |
Property, plant and equipment | 723 |  |  | — |  |  | 723 |  |  |
Purchased technology | 67,600 |  |  | (300) |  |  | 67,300 |  |  | 7 years
Trade name | 12,500 |  |  | — |  |  | 12,500 |  |  | 7 years
Customer relationships | 162,200 |  |  | (10,900) |  |  | 151,300 |  |  | 7 years
Other assets, including long-term unbilled receivables | 6,172 |  |  | (704) |  |  | 5,468 |  |  |
Deferred taxes | (17,441) |  |  | (957) |  |  | (18,398) |  |  |
Deferred revenue | (33,116) |  |  | — |  |  | (33,116) |  |  |
Goodwill | 140,964 |  |  | 13,935 |  |  | 154,899 |  |  |
Net assets acquired | $ | 389,079 |  |  | $ | 275 |  |  | $ | 389,354 |  |  |
Schedule of Business Acquisition, Pro Forma Information | The pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the acquisition and is not necessarily indicative of the operating results that would have actually occurred had the transaction been consummated on December 1, 2021.
(in thousands, except per share data) |  |  | Pro Forma Three Months Ended May 31, 2022
Revenue |  |  | $ | 171,111 |
Net income |  |  | $ | 21,580 |
Net income per basic share |  |  | $ | 0.50 |
Net income per diluted share |  |  | $ | 0.49 |
(in thousands, except per share data) | Pro Forma Six Months Ended May 31, 2023 |  | Pro Forma Six Months Ended May 31, 2022
Revenue | $ | 381,327 |  |  | $ | 336,933 |
Net income | $ | 44,996 |  |  | $ | 32,375 |
Net income per basic share | $ | 1.04 |  |  | $ | 0.74 |
Net income per diluted share | $ | 1.01 |  |  | $ | 0.73 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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