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Stock-Based Compensation (Tables) | 12 Months Ended
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Nov. 30, 2023
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
| (in thousands) |  | Exercise Price |  | (in years) |  | (in thousands)
Options outstanding, December 1, 2022 | 2,480 |  |  | $ | 41.73 |  |  |  |  |
Granted | 243 |  |  | 51.41 |  |  |  |  |
Exercised | (485) |  |  | 37.49 |  |  |  |  |
Canceled | (186) |  |  | 43.28 |  |  |  |  |
Options outstanding, November 30, 2023 | 2,052 |  |  | $ | 44.09 |  |  | 4.1 |  | $ | 19,187 |
Exercisable, November 30, 2023 | 1,123 |  |  | $ | 42.87 |  |  | 3.4 |  | $ | 11,870 |
Vested or expected to vest, November 30, 2023 | 2,052 |  |  | $ | 44.09 |  |  | 4.1 |  | $ | 19,187 |
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, 2022 | 1,051 |  |  | $ | 44.80 |
Granted | 859 |  |  | 52.10 |
Issued | (548) |  |  | 45.98 |
Canceled | (55) |  |  | 47.99 |
Restricted stock units outstanding, November 30, 2023 | 1,307 |  |  | $ | 49.27 |
Schedule of Valuation Assumptions | We estimated the fair value of stock options and ESPP awards granted in fiscal years 2023, 2022, and 2021 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, 2023 |  | November 30, 2022 |  | November 30, 2021
Stock options: |  |  |  |  |
Expected volatility | 30.6 | % |  | 31.0 | % |  | 30.0 | %
Risk-free interest rate | 3.5 | % |  | 1.9 | % |  | 0.5 | %
Expected life (in years) | 4.8 |  | 4.8 |  | 4.8
Expected dividend yield | 1.4 | % |  | 1.6 | % |  | 1.6 | %
Employee stock purchase plan: |  |  |  |  |
Expected volatility | 26.9 | % |  | 31.8 | % |  | 33.1 | %
Risk-free interest rate | 4.9 | % |  | 2.4 | % |  | 0.1 | %
Expected life (in years) | 1.2 |  | 1.2 |  | 1.3
Expected dividend yield | 1.3 | % |  | 1.5 | % |  | 1.5 | %
Long-term incentive plan: |  |  |  |  |
Expected volatility | 31.4 | % |  | 35.1 | % |  | 36.3 | %
Risk-free interest rate | 3.8 | % |  | 1.3 | % |  | 0.2 | %
Expected life (in years) | 2.9 |  | 2.9 |  | 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, 2023 |  | November 30, 2022 |  | November 30, 2021
Total intrinsic value of stock options on date exercised | $ | 12,171 |  |  | $ | 1,717 |  |  | $ | 2,523 |
Total fair value of deferred stock units on date vested | 2,260 |  |  | 2,029 |  |  | 2,084 |
Total fair value of restricted stock units on date vested | 33,402 |  |  | 25,597 |  |  | 16,018 |
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, 2023 |  | November 30, 2022 |  | November 30, 2021
Cost of maintenance and services | $ | 2,976 |  |  | $ | 1,969 |  |  | $ | 1,561 |
Sales and marketing | 6,797 |  |  | 4,884 |  |  | 6,055 |
Product development | 12,214 |  |  | 10,326 |  |  | 8,104 |
General and administrative | 18,542 |  |  | 19,915 |  |  | 14,004 |
Total stock-based compensation | $ | 40,529 |  |  | $ | 37,094 |  |  | $ | 29,724 |
Income tax benefit included in the provision for income taxes | $ | 9,355 |  |  | $ | 6,344 |  |  | $ | 5,281 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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