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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
9 Months Ended
Aug. 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 August 31, 2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Money market funds
 
$
14,192

 
$
14,192

 
$

Corporate bonds and commercial paper
 
157,344

 

 
157,344

U.S. Government debt and agency securities
 
20,332

 

 
20,332

Mortgage-backed securities
 
412

 

 
412

Foreign currency forward contracts
 
429

 

 
429

Liabilities:
 
 
 
 
 
 
Foreign currency forward contracts
 
$
93

 
$

 
$
93

 
 
 
 
 
 
 
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 August 31, 2014 (in thousands):
 
 
 
Notional
Value Local  Currency
 
Notional
Value
USD
 
Fair Value
Gain (Loss)
USD
Forward contracts sold:
 
 
 
 
 
 
Australian dollar
 
6,100

 
$
5,693

 
$
(14
)
British pound
 
4,000

 
6,634

 
7

Euro
 
33,000

 
43,369

 
333

Japanese yen
 
244,000

 
2,345

 
28

Korean won
 
1,000,000

 
985

 
(15
)
Mexican peso
 
8,500

 
649

 

Polish zloty
 
1,800

 
561

 
16

South African rand
 
36,000

 
3,380

 
(26
)
New Taiwan dollar
 
27,000

 
904

 
(6
)
Forward contracts bought:
 
 
 
 
 
 
Brazilian real
 
8,500

 
3,790

 
32

Swedish krona
 
9,300

 
1,330

 
(19
)
 
 
 
 
 
 
$
336

Foreign Currency Forward Contracts Not Designated as Hedging Instruments
 
 
Derivatives not Designated
as Hedging Instruments (in thousands)
 
 
August 31,
2014
 
November 30,
2013
Foreign currency forward contracts, fair value included in:
 
 
 
 
Other Current Assets
 
$
429

 
$
625

Accrued Liabilities
 
93

 
547

Gain or (Loss) Recognized in Income on Derivatives
 
 
 
 
Amount of Gain or (Loss) Recognized
In Income on Derivative (in thousands)
 
 
 
 
Three Months Ended
August 31,
 
Nine Months Ended
August 31,
Derivatives not Designated as Hedging Instruments
 
Location
 
2014
 
2013
 
2014
 
2013
Foreign Currency Contracts
 
Other income/(exp.)
 
$
(557
)
 
$
166

 
$
855

 
$
80