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Stockholders' Equity
 6 Months Ended
May 31, 2013
Equity [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY
Retained Earnings
The changes in retained earnings for the six months ended May 31, 2013 were as follows (in thousands): 
Balance as of November 30, 2012
$
7,003,003

Net income
141,663

Re-issuance of treasury stock
(289,203
)
Balance as of May 31, 2013
$
6,855,463


We account for treasury stock under the cost method. When treasury stock is re-issued at a price higher than its cost, the difference is recorded as a component of additional paid-in-capital in our Condensed Consolidated Balance Sheets. When treasury stock is re-issued at a price lower than its cost, the difference is recorded as a component of additional paid-in-capital to the extent that there are gains to offset the losses. If there are no treasury stock gains in additional paid-in-capital, the losses upon re-issuance of treasury stock are recorded as a component of retained earnings in our Condensed Consolidated Balance Sheets.
The components of accumulated other comprehensive income and activity, net of related taxes, as of May 31, 2013 was as follows (in thousands):
 
November 30,
2012
 
Increase / Decrease
 
Reclassification Adjustments
 
May 31,
2013
Net unrealized gains on available-for-sale securities:
 
 
 
 
 
 
 
Unrealized gains on available-for-sale securities
$
14,699

 
$
(2,424
)
 
$
(2,400
)
 
$
9,875

Unrealized losses on available-for-sale securities
(260
)
 
(2,129
)
 
28

 
(2,361
)
Total net unrealized gains on available-for-sale securities
14,439

 
(4,553
)
 
(2,372
)
(1) 
7,514

Net unrealized gains on derivative instruments designated as hedging instruments
6,604

 
32,660

 
(22,392
)
(2) 
16,872

Cumulative foreign currency translation adjustments
9,669

 
(6,594
)
 
—

 
3,075

Total accumulated other comprehensive income, net of taxes
$
30,712

 
$
21,513

 
$
(24,764
)
 
$
27,461

_________________________________________ 
(1) 
Classified in interest and other income (expense), net.
(2) 
Classified as revenue.

The following table sets forth the taxes related to each component of other comprehensive income for the three and six months ended May 31, 2013 and June 1, 2012 (in thousands):
 
Three Months
 
Six Months
 
2013
 
2012
 
2013
 
2012
Available-for-sale securities:
 
 
 
 
 
 
 
Unrealized gains / losses
$
24

 
$
(3,069
)
 
$
34

 
$
(671
)
Reclassification adjustments
—

 
—

 
—

 
(1
)
Subtotal available-for-sale securities
24

 
(3,069
)
 
34

 
(672
)
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Unrealized gains on derivative instruments*
—

 
—

 
—

 
—

Reclassification adjustments*
—

 
—

 
—

 
—

Subtotal derivatives designated as hedging instruments
—

 
—

 
—

 
—

Foreign currency translation adjustments
(196
)
 
(1,897
)
 
(500
)
 
(2,785
)
Total taxes, other comprehensive income
$
(172
)
 
$
(4,966
)
 
$
(466
)
 
$
(3,457
)
_________________________________________ 
(*)  
Taxes related to derivative instruments were zero based on the tax jurisdiction where the derivative instruments were executed.
Stock Repurchase Program 
To facilitate our stock repurchase program, designed to return value to our stockholders and minimize dilution from stock issuances, we repurchase shares in the open market and also enter into structured repurchase agreements with third parties.
We currently have authority granted by our Board of Directors to repurchase up to $2.0 billion in common stock through the end of fiscal 2015. This stock repurchase program is similar to our previous $1.6 billion stock repurchase program which we exhausted during the second quarter of fiscal 2012.

During the six months ended May 31, 2013 and June 1, 2012, we entered into structured stock repurchase agreements with large financial institutions, whereupon we provided them with prepayments of $300.0 million and $305.0 million, respectively. The $300.0 million prepayments during the six months ended May 31, 2013 were under the new $2.0 billion stock repurchase authority while the $305.0 million prepayments during the six months ended June 1, 2012 were under the previous $1.6 billion authority. We enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the Volume Weighted Average Price (“VWAP”) of our common stock over a specified period of time. We only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions. There were no explicit commissions or fees on these structured repurchases. Under the terms of the agreements, there is no requirement for the financial institutions to return any portion of the prepayment to us.
The financial institutions agree to deliver shares to us at monthly intervals during the contract term. The parameters used to calculate the number of shares deliverable are: the total notional amount of the contract, the number of trading days in the contract, the number of trading days in the interval and the average VWAP of our stock during the interval less the agreed upon discount. During the six months ended May 31, 2013, we repurchased approximately 6.6 million shares at an average price of $41.07 through structured repurchase agreements entered into during fiscal 2012 and the six months ended May 31, 2013. During the six months ended June 1, 2012, we repurchased approximately 7.1 million shares at an average price of $32.38 through structured repurchase agreements entered into during the six months ended June 1, 2012.
As of May 31, 2013, the prepayments were classified as treasury stock on our Condensed Consolidated Balance Sheets at the payment date, though only shares delivered to us by the financial statement date were excluded from the computation of earnings per share. As of May 31, 2013, $60.7 million of prepayment remained under this agreement.