XML 24 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2022
Nov. 30, 2021
Nov. 30, 2020
Cash flows from operating activities:      
Net income $ 95,069 $ 78,420 $ 79,722
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property and equipment 5,002 5,477 6,144
Amortization of acquired intangibles and other 69,730 47,507 28,621
Amortization of debt discount and issuance costs on Notes 2,112 8,195 0
Stock-based compensation 37,094 29,724 23,482
Non-cash lease expense 7,781 10,946 8,609
Loss on disposal of long-lived assets, net 0 7 1,025
Gain on sale of assets held for sale (10,770) 0 0
Deferred income taxes (7,602) (908) (2,622)
Allowances for bad debt and sales credits 774 (282) 164
Gain on sale of intangible assets 0 0 (889)
Changes in operating assets and liabilities:      
Accounts receivable and unbilled receivables (27,254) (10,998) 10,682
Other assets (2,214) (15,105) 1,561
Inventories (1,556) 245 0
Accounts payable and accrued liabilities (3,583) 5,486 (4,974)
Lease liabilities (8,571) (8,406) (8,101)
Income taxes payable (120) (2,251) 3
Deferred revenue, net 36,268 30,473 1,420
Net cash flows from operating activities 192,160 178,530 144,847
Cash flows from (used in) investing activities:      
Purchases of investments 0 0 (5,009)
Sales and maturities of investments 1,950 5,950 16,401
Purchases of property and equipment (6,090) (4,654) (6,517)
Payments for acquisitions, net of cash acquired 0 (253,961) (213,057)
Proceeds from sale of long-lived assets, net 25,998 0 889
Decrease in escrow receivable and other 134 2,330 0
Net cash flows from (used in) investing activities 21,992 (250,335) (207,293)
Cash flows (used in) from financing activities:      
Proceeds from stock-based compensation plans 16,165 15,033 11,099
Payments for taxes related to net share settlements of equity awards (7,824) (5,186) (5,331)
Repurchases of common stock (77,041) (35,000) (60,000)
Proceeds from issuance of senior convertible notes, net of issuance costs of $9.9 million 0 350,100 0
Purchase of capped calls 0 (43,056) 0
Dividend payments to stockholders (31,063) (31,561) (29,900)
Proceeds from the issuance of debt 7,475 0 98,500
Payment of principal on long-term debt (6,873) (117,313) (11,288)
Payment of issuance costs for long-term debt (2,262) (904) 0
Net cash flows (used in) from financing activities (101,423) 132,113 3,080
Effect of exchange rate changes on cash (11,858) (2,892) 3,097
Net increase in cash and cash equivalents 100,871 57,416 (56,269)
Cash and cash equivalents, beginning of year 155,406 97,990 154,259
Cash and cash equivalents, end of year 256,277 155,406 97,990
Supplemental disclosure:      
Cash paid for income taxes, net of refunds of $968 in 2022, $894 in 2021 and $724 in 2020 28,680 25,915 16,107
Cash paid for interest 8,572 8,537 9,175
Non-cash investing and financing activities:      
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested 27,626 18,102 17,046
Dividends declared $ 8,115 $ 7,925 $ 7,904