Stock-Based Compensation (Tables)

12 Months Ended

Nov. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of stock option activity under all the plans is as follows:

	Shares	Weighted Average		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(1)
	(in thousands)	Exercise Price		(in years)	(in thousands)
Options outstanding, December 1, 2021	2,015	$	40.67
Granted	823	44.30
Exercised	(174)	39.04
Canceled	(184)	44.18
Options outstanding, November 30, 2022	2,480	$	41.73	4.3	$	27,609
Exercisable, November 30, 2022	1,244	$	40.00	3.1	$	15,986
Vested or expected to vest, November 30, 2022	2,480	$	41.73	4.3	$	27,609

(1)The aggregate intrinsic value was calculated based on the difference between the closing price of our stock on November 30, 2022 and the exercise prices for all options outstanding.

Schedule of Status of Restricted Stock Units

A summary of restricted stock units' activity is as follows (in thousands, except per share data):

	Number of Shares	Weighted Average Fair Value
Restricted stock units outstanding, December 1, 2021	878	$	43.06
Granted	778	44.24
Issued	(466)	41.04
Canceled	(139)	44.52
Restricted stock units outstanding, November 30, 2022	1,051	$	44.80

Schedule of Valuation Assumptions

We estimated the fair value of stock options and ESPP awards granted in fiscal years 2022, 2021, and 2020 on the measurement dates using the Black-Scholes option valuation model, and LTIP awards using the Monte Carlo Simulation valuation model, with the following weighted average assumptions:

	Fiscal Year Ended
	November 30, 2022		November 30, 2021		November 30, 2020
Stock options:
Expected volatility	31.0	%	30.0	%	29.0	%
Risk-free interest rate	1.9	%	0.5	%	1.1	%
Expected life (in years)	4.8		4.8		4.8
Expected dividend yield	1.6	%	1.6	%	1.6	%
Employee stock purchase plan:
Expected volatility	31.8	%	33.1	%	38.2	%
Risk-free interest rate	2.4	%	0.1	%	0.2	%
Expected life (in years)	1.2		1.3		1.3
Expected dividend yield	1.5	%	1.5	%	2.0	%
Long-term incentive plan:
Expected volatility	35.1	%	36.3	%	34.7	%
Risk-free interest rate	1.3	%	0.2	%	1.1	%
Expected life (in years)	2.9		2.8		2.8
Expected dividend yield	—	%	—	%	—	%

Schedule of Stock Options and Stock Awards Activity

The following additional activity occurred under our plans (in thousands):

	Fiscal Year Ended
	November 30, 2022		November 30, 2021		November 30, 2020
Total intrinsic value of stock options on date exercised	$	1,717	$	2,523	$	1,340
Total fair value of deferred stock units on date vested	2,029		2,084		1,547
Total fair value of restricted stock units on date vested	25,597		16,018		15,499

Schedule of Classification of Stock-Based Compensation

The following table provides the classification of stock-based compensation as reflected in our consolidated statements of operations (in thousands):

	Fiscal Year Ended
	November 30, 2022		November 30, 2021		November 30, 2020
Cost of maintenance and services	$	1,969	$	1,561	$	1,336
Sales and marketing	4,884		6,055		4,462
Product development	10,326		8,104		7,286
General and administrative	19,915		14,004		10,398
Total stock-based compensation	$	37,094	$	29,724	$	23,482
Income tax benefit included in the provision for income taxes	$	6,344	$	5,281	$	4,541