Intangible Assets and Goodwill

6 Months Ended

May 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

Intangible Assets and Goodwill

Intangible Assets

Intangible assets are comprised of the following significant classes:

	May 31, 2024						November 30, 2023
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Purchased technology	$	280,000	$	(196,302)	$	83,698	$	280,000	$	(181,045)	$	98,955
Customer-related	458,608		(252,772)		205,836		458,608		(221,362)		237,246
Trademarks and trade names	50,111		(35,001)		15,110		50,111		(32,034)		18,077
Total	$	788,719	$	(484,075)	$	304,644	$	788,719	$	(434,441)	$	354,278

In the three and six months ended May 31, 2024, amortization expense related to intangible assets was $23.7 million and $49.0 million, respectively. In the three and six months ended May 31, 2023, amortization expense related to intangible assets was $25.5 million and $45.4 million, respectively.

Future amortization expense for intangible assets as of May 31, 2024, is as follows:

(in thousands)
Remainder of 2024	$	40,113
2025	78,759
2026	69,086
2027	44,740
2028	33,157
Thereafter	38,789
Total	$	304,644

Goodwill

Changes in the carrying amount of goodwill in the six months ended May 31, 2024 are as follows:

(in thousands)
Balance, December 1, 2023	$	832,101
Additions(1)	700
Translation adjustments	(18)
Balance, May 31, 2024	$	832,783

(1) The additions to goodwill during fiscal year 2024 represent measurement period adjustments related to the acquisition of MarkLogic Corporation ("MarkLogic") in February 2023. See Note 6: Business Combinations for additional information.