Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Aug. 31, 2013

Investments and Cash [Abstract]

Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments

A summary of our cash, cash equivalents and available-for-sale investments at August 31, 2013 is as follows (in thousands):

	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	156,428	$	—	$	—		$	156,428
Money market funds	58,914		—		—			58,914
State and municipal bond obligations	26,504		137		(1		)	26,640
Auction rate securities – municipal bonds	27,150		—		(3,443		)	23,707
Auction rate securities – student loans	3,500		—		(634		)	2,866
Total	$	272,496	$	137	$	(4,078	)	$	268,555

A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2012 is as follows (in thousands):

	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	176,201	$	—	$	—		$	176,201
Money market funds	125,591		—		—			125,591
State and municipal bond obligations	50,565		255		(2		)	50,818
Auction rate securities – municipal bonds	27,175		—		(3,755		)	23,420
Auction rate securities – student loans	3,500		—		(599		)	2,901
Corporate bonds	2,608		—		(1		)	2,607
Total	$	385,640	$	255	$	(4,357	)	$	381,538

Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments by Balance Sheet Classification

Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands):

	August 31, 2013						November 30, 2012
	Cash and Equivalents		Short-Term Investments		Long-Term Investments		Cash and Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	156,428	$	—	$	—	$	176,201	$	—	$	—
Money market funds	58,914		—		—		125,591		—		—
State and municipal bond obligations	—		26,640		—		—		50,818		—
Auction rate securities – municipal bonds	—		—		23,707		—		—		23,420
Auction rate securities – student loans	—		—		2,866		—		—		2,901
Corporate bonds	—		—		—		—		2,607		—
Total	$	215,342	$	26,640	$	26,573	$	301,792	$	53,425	$	26,321

Fair Value of Debt Securities by Contractual Maturity

The fair value of debt securities by contractual maturity is as follows (in thousands):

	August 31, 2013		November 30, 2012
Due in one year or less (1)	$	39,011	$	55,001
Due after one year	14,202		24,745
Total	$	53,213	$	79,746

(1) Includes ARS which are tendered for interest-rate setting purposes periodically throughout the year. Beginning in February 2008, auctions for these securities began to fail, and therefore these investments currently lack short-term liquidity. The remaining contractual maturities of these securities range from 11 to 30 years.

Investments with Continuous Unrealized Losses and Their Related Fair Values

Investments with continuous unrealized losses and their related fair values are as follows at August 31, 2013 (in thousands):

	Less Than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal bond obligations	$	956	$	(1	)	$	—	$	—		$	956	$	(1	)
Auction rate securities – municipal bonds	—		—			23,707		(3,443		)	23,707		(3,443		)
Auction rate securities – student loans	—		—			2,866		(634		)	2,866		(634		)
Total	$	956	$	(1	)	$	26,573	$	(4,077	)	$	27,529	$	(4,078	)

Investments with continuous unrealized losses and their related fair values are as follows at November 30, 2012 (in thousands):

	Less Than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal bond obligations	$	5,818	$	(1	)	$	472	$	(1	)	$	6,290	$	(2	)
Auction rate securities – municipal bonds	—		—			23,420		(3,755		)	23,420		(3,755		)
Auction rate securities – student loans	—		—			2,901		(599		)	2,901		(599		)
Corporate bonds	2,607		(1		)	—		—			2,607		(1		)
Total	$	8,425	$	(2	)	$	26,793	$	(4,355	)	$	35,218	$	(4,357	)