Fair Value Measurements

6 Months Ended

May 31, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 7: Fair Value Measurements

The following table details the fair value measurements within the fair value hierarchy of our financial assets at May 31, 2011:

(In thousands)
				Fair Value Measurements at the Reporting Date Using
				Quoted Prices in
				Active Markets		Significant Other			Significant
	May 31,			Using Identical		Observable Inputs			Unobservable
Description	2011			Assets (Level 1)		(Level 2)			Inputs (Level 3)
Money market funds	$	117,778		$	117,778	$	—		$	—
State and municipal bond obligations		78,924			—		78,924			—
Auction rate securities — municipal bonds		23,732			—		—			23,732
Auction rate securities — student loans		11,052			—		—			11,052
Corporate bonds		11,544			—		11,544			—
Foreign exchange derivatives		(43	)		—		(43	)		—
Total	$	242,987		$	117,778	$	90,425		$	34,784

The following table details the fair value measurements within the fair value hierarchy of our financial assets at November 30, 2010:

(In thousands)
			Fair Value Measurements at the Reporting Date Using
			Quoted Prices in
			Active Markets		Significant Other		Significant
	Nov. 30,		Using Identical		Observable Inputs		Unobservable
Description	2010		Assets (Level 1)		(Level 2)		Inputs (Level 3)
Money market funds	$	122,415	$	122,415	$	—	$	—
State and municipal bond obligations		25,681		—		25,681		—
US government and agency securities		10,000		—		10,000		—
Auction rate securities — municipal bonds		23,640		—		—		23,640
Auction rate securities — student loans		16,003		—		—		16,003
Corporate bonds		9,397		—		9,397		—
Certificates of deposit		185		—		185		—
Foreign exchange derivatives		867		—		867		—
Total	$	208,188	$	122,415	$	46,130	$	39,643

The valuation technique used to measure fair value for our Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. The valuation technique used to measure fair value for our Level 3 assets is an income approach, where the expected weighted average future cash flows were discounted back to present value for each asset.

The following table reflects the activity for our financial assets measured at fair value using Level 3 inputs:

(In thousands)
	Three Months Ended May 31,						Six Months Ended May 31,
	2011			2010			2011			2010
Balance, beginning of period	$	39,839		$	55,905		$	39,643		$	58,454
Redemptions and repurchases		(6,000	)		(6,475	)		(6,200	)		(8,725	)
Unrealized gain (loss) included in accumulated other comprehensive income		945			275			1,341			(24	)
Unrealized gain on ARS trading securities included in other income		—			481			—			547
Unrealized loss on put option related to ARS rights offering included in other income		—			(481	)		—			(547	)
Balance, end of period	$	34,784		$	49,705		$	34,784		$	49,705