Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Aug. 31, 2014

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, 2014 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
Cash	$	173,237	$	—	$	—	$	173,237
Money market funds	69,143		—		—		69,143
State and municipal bond obligations	18,800		112		—		18,912
Total	$	261,180	$	112	$	—	$	261,292

A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2013 is as follows (in thousands):



	Amortized Cost Basis		Realized Losses			Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	144,305	$	—		$	—	$	—		$	144,305
Money market funds	54,513		—			—		—			54,513
State and municipal bond obligations	30,938		—			164		—			31,102
Auction rate securities – municipal bonds	27,150		(380		)	—		(3,317		)	23,453
Auction rate securities – student loans	3,500		—			—		(672		)	2,828
Total	$	260,406	$	(380	)	$	164	$	(3,989	)	$	256,201

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, 2014						November 30, 2013
	Cash and Equivalents		Short-Term Investments		Long-Term Investments		Cash and Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	173,237	$	—	$	—	$	144,305	$	—	$	—
Money market funds	69,143		—		—		54,513		—		—
State and municipal bond obligations	—		18,912		—		—		31,102		—
Auction rate securities – municipal bonds	—		—		—		—		1,520		21,933
Auction rate securities – student loans	—		—		—		—		—		2,828
Total	$	242,380	$	18,912	$	—	$	198,818	$	32,622	$	24,761

Fair Value of Debt Securities by Contractual Maturity

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



	August 31, 2014		November 30, 2013
Due in one year or less ⁽¹⁾	$	11,664	$	42,198
Due after one year ⁽²⁾	7,248		15,185
Total	$	18,912	$	57,383


(1)	Amounts as of November 30, 2013 include ARS which are tendered for interest-rate setting purposes periodically throughout the year.


(2)	Includes state and municipal bond obligations, which are securities representing investments available for current operations and are classified as current in the consolidated balance sheets.

Investments with Continuous Unrealized Losses and Their Related Fair Values

We did not hold any investments with continuous unrealized losses as of August 31, 2014. Investments with continuous unrealized losses and their related fair values at November 30, 2013 are as follows (in thousands):



	Less Than 12 Months				12 Months or Greater					Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Auction rate securities – municipal bonds	$	—	$	—	$	21,933	$	(3,317	)	$	21,933	$	(3,317	)
Auction rate securities – student loans	—		—		2,828		(672		)	2,828		(672		)
Total	$	—	$	—	$	24,761	$	(3,989	)	$	24,761	$	(3,989	)