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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
6 Months Ended
May 31, 2013
Fair Value Measurements And Derivative Instruments [Abstract]  
Fair Value Hierarchy of Cash Equivalents, Marketable Securities and Foreign Currency Contracts
The fair value hierarchy of our cash equivalents, short-term investments and foreign currency contracts is as follows (in thousands):
 
 
 
 
 
Fair Value Measurements at
Reporting Date using
Description
 
Total Fair
Value
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
other
Observable
Inputs
(Level 2)
As of May 31, 2013
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Money market funds
 
$
335,999

 
$
335,999

 
$

Corporate bonds and commercial paper
 
53,929

 

 
53,929

U.S. Government debt and agency securities
 
9,578

 

 
9,578

Term deposits
 
558

 

 
558

Mortgage-backed securities
 
278

 

 
278

Foreign currency forward contracts
 
2,508

 

 
2,508

Liabilities:
 
 
 
 
 
 
Foreign currency forward contracts
 
$
175

 
$

 
$
175

As of November 30, 2012
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Money market funds
 
$
376,480

 
$
376,480

 
$

Corporate bonds and commercial paper
 
24,558

 

 
24,558

U.S. Government debt and agency securities
 
9,645

 

 
9,645

Term deposits
 
595

 

 
595

Mortgage-backed securities
 
208

 

 
208

Foreign currency forward contracts
 
101

 

 
101

Liabilities:
 
 
 
 
 
 
Foreign currency forward contracts
 
$
130

 
$

 
$
130

Forward Contracts Outstanding
We had the following forward contracts outstanding as of May 31, 2013 (in thousands):
 
 
 
Notional
Value Local  Currency
 
Notional
Value
USD
 
Fair Value
Gain (Loss)
USD
Forward contracts sold:
 
 
 
 
 
 
Australian dollar
 
8,300

 
$
8,406

 
$
460

Brazilian real
 
1,200

 
593

 
34

British pound
 
7,800

 
11,980

 
137

Euro
 
55,700

 
73,463

 
1,280

Japanese yen
 
461,000

 
4,638

 
59

Korean won
 
570,000

 
518

 
14

Polish zloty
 
1,700

 
537

 
21

Singapore dollar
 
1,000

 
811

 
22

South African rand
 
37,000

 
4,082

 
409

New Taiwan dollar
 
31,000

 
1,048

 
12

Forward contracts bought:
 
 
 
 
 
 
Australian dollar
 
2,000

 
1,920

 
(5
)
Brazilian real
 
1,200

 
562

 
(2
)
British pound
 
2,000

 
3,036

 

Euro
 
15,000

 
19,475

 
(37
)
Hong Kong dollar
 
10,000

 
1,289

 

Korean won
 
570,000

 
505

 
(1
)
Singapore dollar
 
2,000

 
1,581

 
(2
)
Swiss franc
 
1,800

 
1,908

 
(30
)
 
 
 
 
 
 
$
2,371

 
 
 
Notional
Value Local  Currency
 
Notional
Value
EURO
 
Fair Value
Gain (Loss)
USD
Forward contracts bought:
 
 
 
 
 
 
British pound
 
1,700

 
2,007

 
$
(25
)
Swedish krona
 
28,000

 
3,276

 
(34
)
United States dollar
 
1,300

 
985

 
21

 
 
 
 
 
 
$
(38
)
Foreign Currency Forward Contracts Not Designated as Hedging Instruments
 
 
Derivatives not Designated
as Hedging Instruments
 
 
May 31,
2013
 
November 30,
2012
Foreign currency forward contracts, fair value included in:
 
 
 
 
Other Current Assets
 
$
2,508

 
$
101

Accrued Liabilities
 
175

 
130

Gain or (Loss) Recognized in Income on Derivatives
 
 
 
 
Amount of Gain or (Loss) Recognized
In Income on Derivative
 
 
 
 
Three Months Ended
May 31,
 
Six Months Ended
May 31,
Derivatives not Designated as Hedging Instruments
 
Location
 
2013
 
2012
 
2013
 
2012
Foreign Currency Contracts
 
Other income/(exp.)
 
$
(2,909
)
 
$
(438
)
 
$
(86
)
 
$
(1,795
)