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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
6 Months Ended
May 31, 2014
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, 2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Money market funds
 
$
18,810

 
$
18,810

 
$

Corporate bonds and commercial paper
 
158,926

 

 
158,926

U.S. Government debt and agency securities
 
16,577

 

 
16,577

Mortgage-backed securities
 
348

 

 
348

Foreign currency forward contracts
 
290

 

 
290

Liabilities:
 
 
 
 
 
 
Foreign currency forward contracts
 
$
462

 
$

 
$
462

As of November 30, 2013
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Money market funds
 
$
245,953

 
$
245,953

 
$

Corporate bonds and commercial paper
 
77,508

 

 
77,508

U.S. Government debt and agency securities
 
6,013

 

 
6,013

Term deposits
 
536

 

 
536

Mortgage-backed securities
 
321

 

 
321

Foreign currency forward contracts
 
625

 

 
625

Liabilities:
 
 
 
 
 
 
Foreign currency forward contracts
 
$
547

 
$

 
$
547

Forward Contracts Outstanding
We had the following forward contracts outstanding as of May 31, 2014 (in thousands):
 
 
 
Notional
Value Local  Currency
 
Notional
Value
USD
 
Fair Value
Gain (Loss)
USD
Forward contracts sold:
 
 
 
 
 
 
Australian dollar
 
2,900

 
$
2,697

 
$
(24
)
British pound
 
6,200

 
10,394

 
46

Euro
 
17,500

 
24,005

 
(134
)
Japanese yen
 
113,000

 
1,111

 
(5
)
Korean won
 
765,000

 
749

 
(9
)
Mexican peso
 

 

 
(13
)
Polish zloty
 
1,500

 
494

 
1

South African rand
 
27,000

 
2,551

 
3

New Taiwan dollar
 
27,000

 
1

 
(6
)
Forward contracts bought:
 
 
 
 
 
 
Brazilian real
 
2,100

 
935

 
6

Indian rupee
 
148,888

 
2,513

 
14

Swedish krona
 
12,000

 
1,794

 
(51
)
 
 
 
 
 
 
$
(172
)
Foreign Currency Forward Contracts Not Designated as Hedging Instruments
 
 
Derivatives not Designated
as Hedging Instruments (in thousands)
 
 
May 31,
2014
 
November 30,
2013
Foreign currency forward contracts, fair value included in:
 
 
 
 
Other Current Assets
 
$
290

 
$
625

Accrued Liabilities
 
462

 
547

Gain or (Loss) Recognized in Income on Derivatives
 
 
 
 
Amount of Gain or (Loss) Recognized
In Income on Derivative (in thousands)
 
 
 
 
Three Months Ended
May 31,
 
Six Months Ended
May 31,
Derivatives not Designated as Hedging Instruments
 
Location
 
2014
 
2013
 
2014
 
2013
Foreign Currency Contracts
 
Other income/(exp.)
 
$
247

 
$
(2,909
)
 
$
1,411

 
$
(86
)