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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Feb. 28, 2019
Feb. 28, 2018
[2]
Cash flows from operating activities:    
Net income $ 9,402 $ 13,732 [1]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 1,620 1,682
Amortization of acquired intangibles and other 8,866 9,620
Stock-based compensation 5,806 4,570
Loss on disposal of property and equipment 153 135
Deferred income taxes (3,069) 137
Allowances for bad debt and sales credits 89 137
Changes in operating assets and liabilities:    
Accounts receivable 3,861 8,667
Other assets 5,147 2,382
Accounts payable and accrued liabilities (13,128) (17,830)
Income taxes payable (246) (290)
Deferred revenue 5,943 8,653
Net cash flows from operating activities 24,444 31,595
Cash flows from (used in) investing activities:    
Purchases of investments (750) (7,374)
Sales and maturities of investments 8,155 6,816
Purchases of property and equipment (246) (1,386)
Net cash flows from (used in) investing activities 7,159 (1,944)
Cash flows used in financing activities:    
Proceeds from stock-based compensation plans 1,894 2,469
Repurchases of common stock (25,000) (45,000)
Dividend payments to shareholders (6,992) (6,619)
Payment of principal on long-term debt (1,547) (1,547)
Net cash flows used in financing activities (31,645) (50,697)
Effect of exchange rate changes on cash 1,432 4,693
Net increase (decrease) in cash and cash equivalents 1,390 (16,353)
Cash and cash equivalents, beginning of period [3] 105,126  
Cash and cash equivalents, end of period 106,516  
Supplemental disclosure:    
Cash paid for income taxes, net of refunds of $166 in 2019 and $307 in 2018 1,496 1,614
Cash paid for interest 1,169 942
Non-cash investing and financing activities:    
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested 76 43
Dividends declared $ 6,939 $ 6,482
[1] The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2] The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307
[3] The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.