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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
6 Months Ended
May 31, 2012
Fair Value Hierarchy of Cash Equivalents, Marketable Securities and Foreign Currency Contracts

The fair value hierarchy of our cash equivalents, marketable securities 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, 2012:

        

Assets:

        

Money market funds

   $ 441,427       $ 441,427       $ —     

Term deposits

     542         —           542   

Mortgage-backed securities

     205         —           205   

Liabilities:

        

Foreign currency forward contracts

   $ 152       $ —         $ 152   

As of November 30, 2011:

        

Assets:

        

Money market funds

   $ 16,664       $ 16,664       $ —     

Term deposits

     560         —           560   

Mortgage-backed securities

     225         —           225   

Foreign currency forward contracts

     142         —           142   

Liabilities:

        

Foreign currency forward contracts

   $ 142       $ —         $ 142   
Foreign Currency Forward Contracts

We had the following forward contracts outstanding as of May 31, 2012 (in thousands):

 

     Notional
Value
Local  Currency
    Notional
Value
USD
    Fair Value
Gain (Loss)
USD
 

Forward contracts denominated in United States dollars sold:

      

Brazilian real

     (1,700   $ (833   $ 4   

British Pound

     12,400        19,063        (141
      

 

 

 
       $ (137
      

 

 

 

 

     Notional
Value
Local  Currency
    Notional
Value
EURO
    Fair Value
Gain (Loss)
USD
 

Forward contracts denominated in Euros sold:

      

Australian dollar

     (2,100   (1,642   $ 4   

British pound

     1,800        2,237        (19
      

 

 

 
       $ (15
      

 

 

 
Foreign Currency Forward Contracts Not Designated As Hedging Instruments
     Derivatives not Designated
as Hedging Instruments
 
     May 31,
2012
     November 30,
2011
 

Foreign currency forward contracts, fair value included in:

     

Other Current Assets

   $ —         $ 142   

Accrued Liabilities

     152         142   
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

   2012     2011     2012     2011  

Foreign Currency Contracts

  

Other income/(exp.)

   $ (438   $ (3,135   $ (1,795   $ (7,569