Income Taxes (Tables)

12 Months Ended

Nov. 30, 2019

Schedule of Sources of Income from Continuing Operations Before Provision for Income Taxes

The sources of income before the provision for income taxes are as follows:

	Fiscal Years Ended November 30,
	2019		2018		2017
			(As adjusted)		(As adjusted)
United States	$	204,651	$	195,058	$	255,830
Foreign		473,052		261,519		207,273
	$	677,703	$	456,577	$	463,103

Schedule of Provisions for Income Taxes

Provision for income taxes consists of the following:

	Fiscal Years Ended November 30,
	2019			2018			2017
				(As adjusted)			(As adjusted)
Current tax provision:
Federal	$	71,376		$	113,243		$	105,879
State		14,421			20,263			17,900
Foreign		109,383			70,162			65,000
	$	195,180		$	203,668		$	188,779
Deferred tax provision (benefit):
Federal	$	(20,166	)	$	(30,334	)	$	(17,005	)
State		(1,389	)		(4,836	)		(1,448	)
Foreign		3,366			(11,902	)		(7,463	)
	$	(18,189	)	$	(47,072	)	$	(25,916	)
Total tax provision	$	176,991		$	156,596		$	162,863

Schedules of Deferred Tax Assets and Liabilities

The following presents the breakdown of net deferred tax liabilities:

	As of November 30,
	2019			2018
				(As adjusted)
Deferred tax assets	$	97,539		$	76,508
Deferred tax liabilities		(222,210	)		(206,916	)
Total net deferred tax liabilities	$	(124,671	)	$	(130,408	)

Net deferred tax liabilities consist of the following:

	As of November 30,
	2019			2018
				(As adjusted)
Assets:
Net operating losses	$	68,582		$	71,899
Accruals and other reserves		71,513			73,263
Unrealized losses on cash flow hedges		17,870			—
Inventory reserves		17,404			11,041
Depreciation and amortization		12,579			—
Share-based compensation expense		11,856			11,605
Allowance for doubtful accounts and sales return reserves		11,759			15,695
Tax credits		6,810			11,305
Deferred revenue		5,625			6,541
Intercompany payables/receivables		452			39,476
Foreign tax credit		296			15,456
Other		6,611			16,524
Gross deferred tax assets		231,357			272,805
Valuation allowance		(51,118	)		(61,840	)
Total deferred tax assets	$	180,239		$	210,965
Liabilities:
Intangible assets	$	(277,147	)	$	(310,092	)
Unremitted non-U.S. earnings		(27,771	)		(21,528	)
Depreciation and amortization		—			(1,669	)
Other		8			(8,084	)
Total deferred tax liabilities	$	(304,910	)	$	(341,373	)
Net deferred tax liabilities	$	(124,671	)	$	(130,408	)

Schedule of Reconciliation of Statutory U.S. Federal Income Tax Rate to Company's Effective Income Tax Rate

A reconciliation of the statutory United States federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal Years Ended November 30,
	2019			2018			2017
				(As adjusted)			(As adjusted)
Federal statutory income tax rate		21.0	%		22.2	%		35.0	%
State taxes, net of federal income tax benefit		1.5			2.4			2.9
Foreign taxes		(2.3	)		0.6			(3.2	)
Adjustments related to the TCJA		—			7.2			—
Global intangible low taxed income		1.6			—			—
Uncertain tax benefits		2.6			—			—
Tax on anticipated distributions from subsidiaries		1.0			—			—
Other		0.7			1.9			0.5
Effective income tax rate		26.1	%		34.3	%		35.2	%

Summary of Aggregate Changes in Balances of Gross Unrecognized Tax Benefits

The aggregate changes in the balances of gross unrecognized tax benefits, excluding accrued interest and penalties, during fiscal years 2019, 2018, and 2017 were as follows:

Balance as of November 30, 2016	$	32,774
Additions based on tax positions related to the current year		9,022
Additions for tax positions of prior years		231
Lapse of statute of limitations		(2,300	)
Changes due to translation of foreign currencies		179
Balance as of November 30, 2017		38,282
Additions based on tax positions related to the current year		8,173
Additions for tax positions of prior years and acquisition		10,763
Lapse of statute of limitations		(3,641	)
Changes due to translation of foreign currencies		398
Balance as of November 30, 2018		53,975
Additions based on tax positions related to the current year		15,569
Additions for tax positions of prior years and acquisition		9,067
Lapse of statute of limitations		(7,234	)
Changes due to translation of foreign currencies		(15	)
Balance as of November 30, 2019	$	71,362