Derivative Instruments

12 Months Ended

Nov. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instruments

We generally use forward contracts that are not designated as hedging instruments to hedge economically the impact of the variability in exchange rates on intercompany accounts receivable and loans receivable denominated in certain foreign currencies. We generally do not hedge the net assets of our international subsidiaries.

All forward contracts are recorded at fair value on the consolidated balance sheets at the end of each reporting period and expire from 30 days to 366 days. At November 30, 2017, $0.2 million and $0.2 million was recorded in other accrued liabilities and other assets in the consolidated balance sheet, respectively. At November 30, 2016, $6.6 million was recorded in other noncurrent liabilities. In fiscal year 2017, realized and unrealized gains of $9.4 million from our forward contracts were recognized in foreign currency loss, net in the consolidated statement of operations. In fiscal years 2016 and 2015, realized and unrealized losses of $4.0 million and $4.6 million, respectively, from our forward contracts were recognized in foreign currency loss, net in the consolidated statements of operations. These gains and losses were substantially offset by realized and unrealized losses and gains on the offsetting positions.

The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands):

	November 30, 2017					November 30, 2016
	Notional Value		Fair Value			Notional Value		Fair Value
Forward contracts to sell U.S. dollars	$	119,192	$	(27	)	$	74,690	$	(6,597	)
Forward contracts to purchase U.S. dollars	462		—			1,673		(19		)
Total	$	119,654	$	(27	)	$	76,363	$	(6,616	)