Leases (Tables)

3 Months Ended

Feb. 29, 2020

Leases [Abstract]

Lease, Cost [Table Text Block]

The components of operating lease cost for the three months ended February 29, 2020 were as follows (in thousands):

	Three Months Ended February 29, 2020
Lease costs under long-term operating leases	$	1,958
Lease costs under short-term operating leases	45
Variable lease cost under short-term and long-term operating leases(1)	106
Operating lease right-of-use asset impairment	923
Total operating lease cost	$	3,032

(1) Lease costs that are not fixed at lease commencement.

The table below presents supplemental cash flow information related to leases during the three months ended February 29, 2020 (in thousands):

	Three Months Ended February 29, 2020
Cash paid for leases	$	2,356
Right-of-use assets recognized for new leases and amendments (non-cash)	—

Weighted average remaining lease term in years and weighted average discount rate are as follows:

	Three Months Ended February 29, 2020
Weighted average remaining lease term in years	4.81
Weighted average discount rate	2.4	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future payments under non-cancellable leases at February 29, 2020 are as follows (in thousands):

Remainder of 2020	$	5,617
2021	5,767
2022	5,212
2023	5,041
2024	4,974
Thereafter	2,684
Total lease payments	29,295
Less imputed interest(1)	(1,645		)
Present value of lease liabilities	$	27,650

(1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated as a result of a lease reassessment event.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

As previously disclosed in the Company’s Form 10-K for the fiscal year ended November 30, 2019 and under the previous lease accounting standard, ASC 840, Leases, the following table summarizes the future non-cancelable minimum lease commitments (including office space, copiers, and automobiles) at November 30, 2019 (in thousands):

2020	$	7,453
2021	5,711
2022	4,977
2023	5,017
2024	5,102
Thereafter	2,904
Total	$	31,164