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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
May 31, 2023
May 31, 2022
Cash flows from operating activities:    
Net income $ 35,764 $ 49,564
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 3,171 2,432
Amortization of acquired intangibles and other 45,298 35,111
Amortization of debt discount and issuance costs on Notes 1,071 1,054
Stock-based compensation 20,039 17,471
Non-cash lease expense 4,707 4,033
Loss on disposal of long-lived assets, net 0 8
Gain on sale of assets held for sale 0 (10,770)
Deferred income taxes (11,036) 1,735
Allowances for bad debt and sales credits 173 339
Changes in operating assets and liabilities:    
Accounts receivable 36,685 19,894
Other assets 13,066 6,833
Inventories 1,496 738
Accounts payable and accrued liabilities (18,822) (20,330)
Lease liabilities (5,138) (4,337)
Income taxes payable 2,177 (200)
Deferred revenue, net (33,933) 8,778
Net cash flows from operating activities 94,718 112,353
Cash flows (used in) from investing activities:    
Purchases of investments (15,262) 0
Sales and maturities of investments 15,700 900
Purchases of property and equipment (1,969) (1,979)
Payments for acquisitions, net of cash acquired (356,096) 0
Proceeds from sale of long-lived assets, net 0 25,998
Net cash flows (used in) from investing activities (357,627) 24,919
Cash flows from (used in) financing activities:    
Proceeds from stock-based compensation plans 16,365 7,771
Payments for taxes related to net share settlements of equity awards (8,101) (5,405)
Repurchases of common stock (30,000) (51,473)
Dividend payments to stockholders (15,871) (15,573)
Proceeds from the issuance of debt 195,000 7,474
Repayment of revolving line of credit (25,000) 0
Principal payment on term loan (3,437) (3,435)
Payment of debt issuance costs 0 (1,957)
Net cash flows from (used in) financing activities 128,956 (62,598)
Effect of exchange rate changes on cash and cash equivalents 3,207 (5,217)
Net (decrease) increase in cash and cash equivalents (130,746) 69,457
Cash and cash equivalents, beginning of period 256,277 155,406
Cash and cash equivalents, end of period 125,531 224,863
Supplemental disclosure:    
Cash paid for income taxes, net of refunds of $841 in 2023 and $364 in 2022 5,953 4,982
Cash paid for interest 10,796 3,291
Non-cash investing and financing activities:    
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested 23,077 18,204
Dividends declared and unpaid $ 8,192 $ 8,094