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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities:    
Net income $ 49,564 $ 32,518
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 2,432 2,741
Amortization of acquired intangibles and other 35,111 22,267
Amortization of debt discount and issuance costs on Notes 1,054 1,683
Stock-based compensation 17,471 15,146
Non-cash lease expense 4,033 4,183
Loss on disposal of property and equipment 8 3
Gain on sale of assets held for sale (10,770)
Deferred income taxes 1,735 (705)
Allowances for bad debt and sales credits 339 (358)
Changes in operating assets and liabilities:    
Accounts receivable 19,894 29,105
Other assets 6,833 1,722
Inventories 738 0
Accounts payable and accrued liabilities (20,330) (11,554)
Lease liabilities (4,337) (4,467)
Income taxes payable (200) (1,059)
Deferred revenue 8,778 8,153
Net cash flows from operating activities 112,353 99,378
Cash flows from investing activities:    
Sales and maturities of investments 900 2,650
Purchases of property and equipment (1,979) (2,116)
Proceeds from sale of long-lived assets, net 25,998 0
Decrease in escrow receivable and other 0 2,130
Net cash flows from investing activities 24,919 2,664
Cash flows (used in) from financing activities:    
Proceeds from stock-based compensation plans 7,771 6,300
Payments for taxes related to net share settlements of equity awards (5,405) (2,373)
Repurchases of common stock (51,473) (35,000)
Proceeds from issuance of senior convertible notes, net of issuance costs of $9.9 million 0 350,100
Purchase of capped calls 0 (43,056)
Dividend payments to stockholders (15,573) (15,617)
Proceeds from the issuance of debt 7,474 0
Payment of principal on long-term debt (3,435) (106,025)
Payment of debt issuance costs (1,957) (904)
Net cash flows (used in) from financing activities (62,598) 153,425
Effect of exchange rate changes on cash (5,217) 3,903
Net increase in cash and cash equivalents 69,457 259,370
Cash and cash equivalents, beginning of period 155,406 97,990
Cash and cash equivalents, end of period 224,863 357,360
Supplemental disclosure:    
Cash paid for income taxes, net of refunds of $364 in 2022 and $488 in 2021 4,982 6,677
Cash paid for interest 3,291 4,480
Non-cash investing and financing activities:    
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested 18,204 8,698
Dividends declared $ 8,094 $ 7,921