Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Aug. 31, 2014 | |
Entity Information [Line Items] | ' |
Entity Registrant Name | 'IHS Inc. |
Entity Central Index Key | '0001316360 |
Current Fiscal Year End Date | '--11-30 |
Entity Filer Category | 'Large Accelerated Filer |
Document Type | '10-Q |
Document Period End Date | 31-Aug-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
Amendment Flag | 'false |
Entity Common Stock, Shares Outstanding | 68,172,435 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Aug. 31, 2014 | Nov. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $261,813 | $258,367 |
Accounts receivable, net | 365,591 | 459,263 |
Deferred subscription costs | 50,535 | 49,327 |
Deferred income taxes | 72,843 | 70,818 |
Other | 60,965 | 43,065 |
Total current assets | 811,747 | 880,840 |
Non-current assets: | ' | ' |
Property and equipment, net | 281,952 | 245,566 |
Intangible assets, net | 1,100,556 | 1,144,464 |
Goodwill | 3,141,342 | 3,065,181 |
Other | 17,195 | 23,562 |
Total non-current assets | 4,541,045 | 4,478,773 |
Total assets | 5,352,792 | 5,359,613 |
Current liabilities: | ' | ' |
Short-term debt | 218,793 | 395,527 |
Accounts payable | 47,111 | 57,001 |
Accrued compensation | 86,418 | 89,460 |
Accrued royalties | 27,729 | 36,289 |
Other accrued expenses | 108,800 | 98,187 |
Income tax payable | 35,330 | 9,961 |
Deferred revenue | 613,134 | 560,010 |
Total current liabilities | 1,137,315 | 1,246,435 |
Long-term debt | 1,681,483 | 1,779,065 |
Accrued pension and postretirement liability | 30,336 | 27,191 |
Deferred income taxes | 338,336 | 361,267 |
Other liabilities | 54,152 | 38,692 |
Commitments and contingencies | ' | ' |
Stockholders’ equity: | ' | ' |
Class A common stock, $0.01 par value per share, 160,000,000 shares authorized, 69,127,957 and 67,901,101 shares issued, and 68,172,435 and 67,382,298 shares outstanding at August 31, 2014 and November 30, 2013, respectively | 691 | 679 |
Additional paid-in capital | 915,562 | 788,670 |
Treasury stock, at cost: 955,522 and 518,803 shares at August 31, 2014 and November 30, 2013, respectively | -97,227 | -45,945 |
Retained earnings | 1,354,951 | 1,220,520 |
Accumulated other comprehensive loss | -62,807 | -56,961 |
Total stockholders’ equity | 2,111,170 | 1,906,963 |
Total liabilities and stockholders’ equity | $5,352,792 | $5,359,613 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 31, 2014 | Nov. 30, 2013 |
Class A common stock, par value per share | $0.01 | $0.01 |
Class A common stock, shares authorized | 160,000,000 | 160,000,000 |
Class A common stock, shares issued | 69,127,957 | 67,901,101 |
Class A common stock, shares outstanding | 68,172,435 | 67,382,298 |
Treasury stock, shares | 955,522 | 518,803 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Revenue | $556,011 | $480,288 | $1,648,477 | $1,280,956 |
Operating expenses: | ' | ' | ' | ' |
Cost of revenue | 219,208 | 198,279 | 657,078 | 530,778 |
Selling, general and administrative | 211,285 | 179,344 | 612,645 | 465,182 |
Depreciation and amortization | 50,568 | 42,431 | 149,347 | 107,787 |
Restructuring charges | 2,368 | 3,264 | 6,403 | 11,283 |
Acquisition-related costs | 0 | 14,499 | 1,017 | 18,059 |
Net periodic pension and postretirement expense (income) | -1,328 | 2,242 | 4,342 | 6,724 |
Other expense, net | 132 | 803 | 1,440 | 3,733 |
Total operating expenses | 482,233 | 440,862 | 1,432,272 | 1,143,546 |
Operating income | 73,778 | 39,426 | 216,205 | 137,410 |
Interest income | 251 | 232 | 737 | 879 |
Interest expense | -12,295 | -16,072 | -42,150 | -28,356 |
Non-operating expense, net | -12,044 | -15,840 | -41,413 | -27,477 |
Income from continuing operations before income taxes | 61,734 | 23,586 | 174,792 | 109,933 |
Provision for income taxes | -15,217 | -116 | -40,361 | -18,909 |
Income from continuing operations | 46,517 | 23,470 | 134,431 | 91,024 |
Loss from discontinued operations, net | 0 | -108 | 0 | -101 |
Net income | $46,517 | $23,362 | $134,431 | $90,923 |
Basic earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $0.68 | $0.35 | $1.97 | $1.38 |
Loss from discontinued operations, net | $0 | $0 | $0 | $0 |
Net income | $0.68 | $0.35 | $1.97 | $1.38 |
Weighted average shares used in computing basic earnings per share | 68,269 | 66,650 | 68,100 | 66,112 |
Diluted earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $0.68 | $0.35 | $1.95 | $1.36 |
Loss from discontinued operations, net | $0 | $0 | $0 | $0 |
Net income | $0.68 | $0.35 | $1.95 | $1.36 |
Weighted average shares used in computing diluted earnings per share | 68,911 | 67,326 | 68,810 | 66,843 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income Statement (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Net income | $46,517 | $23,362 | $134,431 | $90,923 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Unrealized gain (loss) on hedging activities | 276 | 314 | -4,488 | 875 |
Net pension liability adjustment | -885 | 0 | -885 | 0 |
Foreign currency translation adjustment | -3,557 | 296 | -473 | -32,792 |
Total other comprehensive income (loss) | -4,166 | 610 | -5,846 | -31,917 |
Comprehensive income | $42,351 | $23,972 | $128,585 | $59,006 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Tax on unrealized gain (loss) on hedging activities | $180 | $192 | ($2,929) | $536 |
Tax on net pension liability adjustment | $578 | $0 | $578 | $0 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 |
Operating activities: | ' | ' |
Net income | $134,431 | $90,923 |
Reconciliation of net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 149,347 | 107,787 |
Stock-based compensation expense | 127,723 | 114,794 |
Impairment of assets | 0 | 1,629 |
Excess tax benefit from stock-based compensation | -11,609 | -12,405 |
Net periodic pension and postretirement expense (income) | 4,342 | 6,724 |
Pension and postretirement contributions | -2,080 | -12,601 |
Deferred income taxes | 8,337 | -37,756 |
Change in assets and liabilities: | ' | ' |
Accounts receivable, net | 93,234 | 43,662 |
Other current assets | -11,490 | 3,319 |
Accounts payable | -9,682 | -14,442 |
Accrued expenses | -2,878 | -371 |
Income tax payable | 16,281 | 32,700 |
Deferred revenue | 43,465 | 21,567 |
Other liabilities | 3,029 | -1,161 |
Net cash provided by operating activities | 542,450 | 344,369 |
Investing activities: | ' | ' |
Capital expenditures on property and equipment | -83,314 | -65,411 |
Acquisitions of businesses, net of cash acquired | -133,938 | -1,481,288 |
Intangible assets acquired | -714 | 0 |
Change in other assets | 3,846 | -5,590 |
Settlements of forward contracts | 1,345 | 2,853 |
Net cash used in investing activities | -212,775 | -1,549,436 |
Financing activities: | ' | ' |
Proceeds from borrowings | 165,000 | 1,375,000 |
Repayment of borrowings | -439,317 | -128,648 |
Payment of debt issuance costs | 0 | 17,360 |
Excess tax benefit from stock-based compensation | 11,609 | 12,405 |
Proceeds from the exercise of employee stock options | 0 | 549 |
Repurchases of common stock | -51,282 | -87,512 |
Net cash provided by (used in) financing activities | -313,990 | 1,154,434 |
Foreign exchange impact on cash balance | -12,239 | -23,380 |
Net increase (decrease) in cash and cash equivalents | 3,446 | -74,013 |
Cash and cash equivalents at the beginning of the period | 258,367 | 345,008 |
Cash and cash equivalents at the end of the period | $261,813 | $270,995 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statement of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands, except Share data | ||||||
Balance (Audited) at Nov. 30, 2013 | $1,906,963 | $679 | $788,670 | ($45,945) | $1,220,520 | ($56,961) |
Balance, shares at Nov. 30, 2013 | 67,382,298 | 67,382,000 | ' | ' | ' | ' |
Stock-based award activity, shares | ' | 790,000 | ' | ' | ' | ' |
Stock-based award activity, value | 64,013 | 12 | 115,283 | -51,282 | 0 | 0 |
Excess tax benefit on vested shares | 11,609 | 0 | 11,609 | 0 | 0 | 0 |
Net income | 134,431 | 0 | 0 | 0 | 134,431 | 0 |
Other comprehensive loss | -5,846 | 0 | 0 | 0 | 0 | -5,846 |
Balance at Aug. 31, 2014 | $2,111,170 | $691 | $915,562 | ($97,227) | $1,354,951 | ($62,807) |
Balance, shares at Aug. 31, 2014 | 68,172,435 | 68,172,000 | ' | ' | ' | ' |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 9 Months Ended |
Aug. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
Basis of Presentation and Significant Accounting Policies | |
The accompanying unaudited condensed consolidated financial statements of IHS Inc. (IHS, we, us, or our) have been prepared on substantially the same basis as our annual consolidated financial statements and should be read in conjunction with our annual report on Form 10-K for the year ended November 30, 2013. In our opinion, these condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented, and such adjustments are of a normal, recurring nature. | |
Our business has seasonal aspects. Our fourth quarter typically generates our highest quarterly levels of revenue and profit. Conversely, our first quarter generally has our lowest levels of revenue and profit. We also experience event-driven seasonality in our business; for instance, IHS Energy CERAWeek, an annual energy executive gathering, is held during our second quarter. Another example is the biennial release (previously triennial release) of the Boiler Pressure Vessel Code (BPVC) engineering standard, which generates revenue for us predominantly in the third quarter of every other year. We most recently recognized a benefit in connection with the BPVC release in the third quarter of 2013. | |
Recent Accounting Pronouncements | |
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-2, which provides guidance on the reporting of reclassifications out of accumulated other comprehensive income (AOCI). This standard became effective for us in the first quarter of 2014. Under the new guidance, an entity is required to report the effect of significant reclassifications out of AOCI on the respective line items in net income if the amount being reclassified is required under U.S. generally accepted accounting principles (GAAP) to be reclassified in its entirety to net income. For amounts not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other GAAP disclosures that provide additional detail about those amounts. The adoption of this standard did not have an impact on our consolidated financial statements other than the change in disclosures. | |
In April 2014, the FASB issued ASU 2014-08, which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. The ASU is intended to reduce the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The standard will be effective for us in the first quarter of our fiscal year 2016, although early adoption is permitted. We do not expect that the adoption of this ASU will have a significant impact on our consolidated financial statements other than changing the classification criteria and related disclosures for any potential future disposals. | |
In May 2014, the FASB issued ASU 2014-09, which establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The ASU allows for the use of either the full or modified retrospective transition method, and the standard will be effective for us in the first quarter of our fiscal year 2018; early adoption is not permitted. We are currently evaluating the impact of this new standard on our consolidated financial statements, as well as which transition method we intend to use. | |
In August 2014, the FASB issued ASU 2014-15, which requires that management evaluate the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Disclosure is required if there is substantial doubt about the entity's ability to continue as a going concern. The standard will be effective for us in the fourth quarter of our fiscal year 2017, although early adoption is permitted. We do not expect that the adoption of this ASU will have a significant impact on our consolidated financial statements. |
Business_Combinations_Notes
Business Combinations (Notes) | 9 Months Ended |
Aug. 31, 2014 | |
Business Combinations [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
Business Combinations | |
During the nine months ended August 31, 2014, we completed the following acquisitions, neither of which were material either individually or in the aggregate: | |
Global Trade Information Services (GTI). On August 1, 2014, we acquired GTI, a leading provider of international merchandise trade data. We acquired GTI in order to support our strategy of building integrated workflow solutions that target industry needs related to global trade. | |
PCI Acrylonitrile Limited (PCI Acrylonitrile). On August 28, 2014, we acquired PCI Acrylonitrile, a provider of information and analysis on the acrylonitrile propylene derivative product. We acquired PCI Acrylonitrile in order to strengthen our position in chemical market advisory services. | |
The total purchase price for these acquisitions was approximately $134 million, net of cash acquired. We have preliminarily allocated $57 million of the purchase price to amortizing intangible assets and $82 million to goodwill. |
Intangible_Assets
Intangible Assets | 9 Months Ended | |||||||||||||||||||||||
Aug. 31, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Intangible Assets [Text Block] | ' | |||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||
The following table presents details of our intangible assets, other than goodwill, as of August 31, 2014 and November 30, 2013 (in thousands): | ||||||||||||||||||||||||
As of August 31, 2014 | As of November 30, 2013 | |||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Amortization | Amortization | |||||||||||||||||||||||
Intangible assets subject to amortization: | ||||||||||||||||||||||||
Information databases | $ | 625,172 | $ | (223,567 | ) | $ | 401,605 | $ | 633,347 | $ | (194,904 | ) | $ | 438,443 | ||||||||||
Customer relationships | 506,481 | (108,570 | ) | 397,911 | 470,632 | (90,827 | ) | 379,805 | ||||||||||||||||
Developed computer software | 151,517 | (70,754 | ) | 80,763 | 159,413 | (64,514 | ) | 94,899 | ||||||||||||||||
Trademarks | 167,211 | (22,864 | ) | 144,347 | 167,179 | (13,300 | ) | 153,879 | ||||||||||||||||
Other | 20,705 | (8,562 | ) | 12,143 | 28,121 | (15,076 | ) | 13,045 | ||||||||||||||||
Total | $ | 1,471,086 | $ | (434,317 | ) | $ | 1,036,769 | $ | 1,458,692 | $ | (378,621 | ) | $ | 1,080,071 | ||||||||||
Intangible assets not subject to amortization: | ||||||||||||||||||||||||
Trademarks | 62,545 | — | 62,545 | 63,144 | — | 63,144 | ||||||||||||||||||
Perpetual licenses | 1,242 | — | 1,242 | 1,249 | — | 1,249 | ||||||||||||||||||
Total intangible assets | $ | 1,534,873 | $ | (434,317 | ) | $ | 1,100,556 | $ | 1,523,085 | $ | (378,621 | ) | $ | 1,144,464 | ||||||||||
Intangible assets amortization expense was $33.2 million and $100.1 million for the three and nine months ended August 31, 2014, respectively, as compared to $29.5 million and $74.1 million for the same respective periods of 2013. The following table presents the estimated future amortization expense related to intangible assets held as of August 31, 2014 (in thousands): | ||||||||||||||||||||||||
Year | Amount | |||||||||||||||||||||||
Remainder of 2014 | $ | 33,905 | ||||||||||||||||||||||
2015 | $ | 132,288 | ||||||||||||||||||||||
2016 | $ | 123,140 | ||||||||||||||||||||||
2017 | $ | 108,608 | ||||||||||||||||||||||
2018 | $ | 96,408 | ||||||||||||||||||||||
Thereafter | $ | 542,420 | ||||||||||||||||||||||
Goodwill, gross intangible assets, and net intangible assets were all subject to foreign currency translation effects. Changes in our goodwill and gross intangible assets from November 30, 2013 to August 31, 2014 were primarily the result of recent acquisitions and foreign currency translation effects, partially offset by the removal of fully amortized intangible assets. The change in net intangible assets was primarily due to current year amortization, partially offset by the acquisitions made in the third quarter of 2014. |
Debt
Debt | 9 Months Ended | ||||||||
Aug. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt [Text Block] | ' | ||||||||
Debt | |||||||||
The following table summarizes total indebtedness as of August 31, 2014 and November 30, 2013 (in thousands): | |||||||||
August 31, 2014 | November 30, 2013 | ||||||||
Credit Facility: | |||||||||
Revolver | $ | 600,000 | $ | 770,000 | |||||
Term loans | 368,037 | 446,904 | |||||||
2012 term loan | 250,000 | 250,000 | |||||||
2013 term loan | 675,000 | 700,000 | |||||||
Capital leases | 7,239 | 7,688 | |||||||
Total debt | $ | 1,900,276 | $ | 2,174,592 | |||||
Current portion | (218,793 | ) | (395,527 | ) | |||||
Total long-term debt | $ | 1,681,483 | $ | 1,779,065 | |||||
Credit Facility. Our Credit Facility is a syndicated bank credit agreement that consists of amortizing term loans and a $1.0 billion revolver. All borrowings under the Credit Facility are unsecured. The term loans and revolver included in the Credit Facility have a maturity date of January 2016. The interest rates for borrowings under the Credit Facility are the applicable LIBOR plus a spread of 1.00 percent to 2.25 percent, depending upon our Leverage Ratio, which is defined as the ratio of Consolidated Funded Indebtedness to rolling four-quarter Consolidated Earnings Before Interest Expense, Taxes, Depreciation and Amortization (EBITDA), as such terms are defined in the Credit Facility. A commitment fee on any unused balance is payable periodically and ranges from 0.15 percent to 0.40 percent based upon our Leverage Ratio. The Credit Facility contains certain financial and other covenants, including a maximum Leverage Ratio and a maximum Interest Coverage Ratio, as such terms are defined in the Credit Facility. | |||||||||
2012 term loan. During the third quarter of 2012, we entered into a $250 million interest-only term loan agreement with a maturity date of March 2015. Borrowings under this loan are unsecured. The interest rates for borrowings under this loan, as well as certain financial and other covenants, including a maximum Leverage Ratio and a maximum Interest Coverage Ratio, are consistent with our Credit Facility described above. We intend to repay this loan with additional borrowings from the Revolver; consequently, we have continued to classify this amount as long-term debt. | |||||||||
2013 term loan. During the third quarter of 2013, we entered into a $700 million amortizing term loan agreement to facilitate a portion of the funding for the R.L. Polk & Co. acquisition (Polk acquisition). This loan has a maturity date of July 2018, and borrowings under this loan are unsecured. The interest rates for borrowings under this loan, as well as certain financial and other covenants, including a maximum Leverage Ratio and a maximum Interest Coverage Ratio, are consistent with our Credit Facility described above. | |||||||||
As of August 31, 2014, we were in compliance with all of our debt covenants. Our credit agreements require a systematic reduction in our Leverage Ratio each quarter for the first year, unless we elect to trigger an increased Leverage Ratio under the terms specified in the credit agreements in connection with future acquisitions, and we are in compliance with those terms. We have classified short-term debt based on principal maturities and expected cash availability over the next 12 months. As of August 31, 2014, we had approximately $600 million of outstanding borrowings under the revolver at a current annual interest rate of 1.94 percent and approximately $1.293 billion of aggregate outstanding borrowings under our term loans at a current weighted average annual interest rate of 2.15 percent, including the effect of the interest rate swaps described in Note 5. | |||||||||
We also had approximately $0.7 million of outstanding letters of credit under the Credit Facility as of August 31, 2014, which reduced the available borrowing under the Credit Facility by an equivalent amount. | |||||||||
The carrying value of our short-term and long-term debt approximates their fair value. |
Derivatives
Derivatives | 9 Months Ended | ||||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | ||||||||||||||||||
Derivatives | |||||||||||||||||||
Our business is exposed to various market risks, including interest rate and foreign currency risks. We utilize derivative instruments to help us manage these risks. We do not hold or issue derivatives for speculative purposes. | |||||||||||||||||||
Interest Rate Swaps | |||||||||||||||||||
To mitigate interest rate exposure on our outstanding Credit Facility debt, we utilize the following derivative instruments: | |||||||||||||||||||
• | Interest rate derivative contracts that swap $100 million of floating rate debt at a 1.80 percent weighted-average fixed interest rate, plus the applicable Credit Facility spread. We entered into these swap contracts in 2011, and they expire in July 2015. | ||||||||||||||||||
• | Forward-starting interest rate derivative contracts that swap $400 million of floating rate debt at a 2.86 percent weighted-average fixed interest rate, plus the applicable Credit Facility spread. We entered into these swap contracts in November 2013 and January 2014. The contracts take effect between May 2015 and November 2015, with respective expiration dates between May 2020 and November 2020. | ||||||||||||||||||
Because the terms of these swaps and the variable rate debt (as amended or extended over time) coincide, we do not expect any ineffectiveness. We have designated and accounted for these instruments as cash flow hedges, with changes in fair value being deferred in accumulated other comprehensive loss in our consolidated balance sheets. | |||||||||||||||||||
Foreign Currency Forwards | |||||||||||||||||||
To mitigate foreign currency exposure, we utilize the following derivative instruments: | |||||||||||||||||||
• | Foreign currency forward contracts that hedge the foreign currency exposure on Euro-denominated receipts in our U.S. Dollar functional entities. We utilize a rolling hedging program to mitigate a portion of this exposure. Because the critical terms of the forward contracts and the forecasted cash flows coincide, we do not expect any ineffectiveness associated with these contracts. We have designated and accounted for these derivatives as cash flow hedges, with changes in fair value being deferred in AOCI in our consolidated balance sheets. The notional amount of outstanding foreign currency forwards under these agreements as of August 31, 2014 and November 30, 2013 was approximately $15.0 million and $15.9 million, respectively. | ||||||||||||||||||
• | Short-term foreign currency forward contracts that manage market risks associated with fluctuations in balances that are denominated in currencies other than the local functional currency. We account for these forward contracts at fair value and recognize the associated realized and unrealized gains and losses in other expense (income), net, since we have not designated these contracts as hedges for accounting purposes. The following table summarizes the notional amounts of these outstanding foreign currency forward contracts as of August 31, 2014 and November 30, 2013 (in thousands): | ||||||||||||||||||
August 31, 2014 | November 30, 2013 | ||||||||||||||||||
Notional amount of currency pair: | |||||||||||||||||||
Contracts to buy USD with CAD | $ | 58,734 | $ | 142,606 | |||||||||||||||
Contracts to buy CAD with GBP | C$ | — | C$ | 28,741 | |||||||||||||||
Contracts to buy USD with EUR | $ | 13,401 | $ | 17,522 | |||||||||||||||
Contracts to buy CHF with USD | $ | 14,373 | $ | 15,308 | |||||||||||||||
Contracts to buy GBP with EUR | £ | 4,815 | £ | 5,866 | |||||||||||||||
Contracts to buy USD with GBP | £ | 4,797 | £ | 1,863 | |||||||||||||||
Fair Value of Derivatives | |||||||||||||||||||
Since our derivative instruments are not listed on an exchange, we have evaluated fair value by reference to similar transactions in active markets; consequently, we have classified all of our derivative instruments within Level 2 of the fair value measurement hierarchy. The following table shows the classification, location, and fair value of our derivative instruments as of August 31, 2014 and November 30, 2013 (in thousands): | |||||||||||||||||||
Fair Value of Derivative Instruments | |||||||||||||||||||
August 31, 2014 | November 30, 2013 | Balance Sheet Location | |||||||||||||||||
Assets: | |||||||||||||||||||
Derivatives designated as accounting hedges: | |||||||||||||||||||
Foreign currency forwards | $ | 547 | $ | 8 | Other current assets | ||||||||||||||
Derivatives not designated as accounting hedges: | |||||||||||||||||||
Foreign currency forwards | 418 | 1,548 | Other current assets | ||||||||||||||||
Total | $ | 965 | $ | 1,556 | |||||||||||||||
Liabilities: | |||||||||||||||||||
Derivatives designated as accounting hedges: | |||||||||||||||||||
Interest rate swaps | $ | 11,601 | $ | 3,366 | Other accrued expenses | ||||||||||||||
Foreign currency forwards | — | 423 | Other accrued expenses | ||||||||||||||||
Derivatives not designated as accounting hedges: | |||||||||||||||||||
Foreign currency forwards | 291 | 957 | Other accrued expenses | ||||||||||||||||
Total | $ | 11,892 | $ | 4,746 | |||||||||||||||
The net gain on foreign currency forwards that are not designated as hedging instruments for the three and nine months ended August 31, 2014 and 2013, respectively, was as follows (in thousands): | |||||||||||||||||||
Amount of gain recognized in the consolidated statements of operations | |||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Location on consolidated statements of operations | |||||||||||||||
Foreign currency forwards | $ | 392 | $ | 1,835 | $ | 1,323 | $ | 5,790 | Other expense, net | ||||||||||
The following table provides information about the cumulative amount of unrecognized hedge losses recorded in AOCI as of August 31, 2014 and November 30, 2013, as well as the activity on our cash flow hedging instruments for the three and nine months ended August 31, 2014 and 2013, respectively (in thousands): | |||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Beginning balance | $ | (6,963 | ) | $ | (1,664 | ) | $ | (2,199 | ) | $ | (2,225 | ) | |||||||
Amount of gain (loss) recognized in AOCI on derivative: | |||||||||||||||||||
Interest rate swaps | (366 | ) | 9 | (5,645 | ) | 42 | |||||||||||||
Foreign currency forwards | 212 | 67 | 41 | 152 | |||||||||||||||
Amount of loss (gain) reclassified from AOCI into income: | |||||||||||||||||||
Interest rate swaps (1) | 239 | 235 | 713 | 696 | |||||||||||||||
Foreign currency forwards (1) | 191 | 3 | 403 | (15 | ) | ||||||||||||||
Ending balance | $ | (6,687 | ) | $ | (1,350 | ) | $ | (6,687 | ) | $ | (1,350 | ) | |||||||
(1) Amounts reclassified from AOCI into income related to interest rate swaps are recorded in interest expense, and amounts reclassified from AOCI into income related to foreign currency forwards are recorded in revenue. | |||||||||||||||||||
The unrecognized gains relating to the foreign currency forwards are expected to be reclassified into revenue within the next 12 months, and approximately $1.3 million of the unrecognized losses relating to the interest rate swaps are expected to be reclassified into interest expense within the next 12 months. |
Restructuring_Charges
Restructuring Charges | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Restructuring Charges [Text Block] | ' | |||||||||||||||
Restructuring Charges | ||||||||||||||||
During the nine months ended August 31, 2014, we eliminated 120 positions and incurred additional direct and incremental costs related to identified operational efficiencies (including lease abandonments), continued consolidation of positions to our accounting and customer care Centers of Excellence (COE) locations, and further consolidation of our legacy data centers. We expect to continue to incur costs related to these and other similar activities in future periods, resulting in additional restructuring charges. | ||||||||||||||||
During the nine months ended August 31, 2014, we recorded approximately $6.4 million of restructuring charges for these activities. Of these charges, approximately $3.3 million was recorded in the Americas segment, $2.7 million was recorded in the EMEA segment, and $0.4 million was recorded in the APAC segment. | ||||||||||||||||
The following table provides a reconciliation of the restructuring liability as of August 31, 2014 (in thousands): | ||||||||||||||||
Employee | Contract | Other | Total | |||||||||||||
Severance and | Termination | |||||||||||||||
Other | Costs | |||||||||||||||
Termination | ||||||||||||||||
Benefits | ||||||||||||||||
Balance at November 30, 2013 | $ | 2,569 | $ | 103 | $ | 23 | $ | 2,695 | ||||||||
Add: Restructuring costs incurred | 5,827 | 575 | 844 | 7,246 | ||||||||||||
Revision to prior estimates | (1,292 | ) | 449 | — | (843 | ) | ||||||||||
Less: Amount paid | (5,764 | ) | (1,078 | ) | (815 | ) | (7,657 | ) | ||||||||
Balance at August 31, 2014 | $ | 1,340 | $ | 49 | $ | 52 | $ | 1,441 | ||||||||
As of August 31, 2014, approximately $0.7 million of the remaining restructuring liability was in the Americas segment and approximately $0.7 million was in the EMEA segment. The entire $1.4 million restructuring liability is expected to be paid within the next 12 months. |
Acquisitionrelated_Costs
Acquisition-related Costs | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Acquisition Related Costs [Abstract] | ' | |||||||||||||||
Acquisition Related Costs [Text Block] | ' | |||||||||||||||
Acquisition-related Costs | ||||||||||||||||
During the nine months ended August 31, 2014, we recorded approximately $1.0 million of direct and incremental costs associated with acquisition-related activities, including severance, lease abandonments, and professional fees. Approximately $0.7 million of the total charge was recorded in the Americas segment and $0.3 million was recorded in the EMEA segment. | ||||||||||||||||
The following table provides a reconciliation of the acquisition-related costs accrued liability as of August 31, 2014 (in thousands): | ||||||||||||||||
Employee | Contract | Other | Total | |||||||||||||
Severance and | Termination | |||||||||||||||
Other | Costs | |||||||||||||||
Termination | ||||||||||||||||
Benefits | ||||||||||||||||
Balance at November 30, 2013 | $ | 5,859 | $ | 201 | $ | 71 | $ | 6,131 | ||||||||
Add: Costs incurred | 743 | 515 | 27 | 1,285 | ||||||||||||
Revision to prior estimates | (285 | ) | 17 | — | (268 | ) | ||||||||||
Less: Amount paid | (5,141 | ) | (458 | ) | (98 | ) | (5,697 | ) | ||||||||
Balance at August 31, 2014 | $ | 1,176 | $ | 275 | $ | — | $ | 1,451 | ||||||||
As of August 31, 2014, approximately $1.0 million of the remaining acquisition-related costs accrued liability was in the Americas segment and $0.5 million was in the EMEA segment. We expect that the remaining liability will be substantially paid within the next 12 months. |
Pensions_and_Postretirement_Be
Pensions and Postretirement Benefits | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | |||||||||||||||
Pensions and Postretirement Benefits [Text Block] | ' | |||||||||||||||
Pensions and Postretirement Benefits | ||||||||||||||||
Our net periodic pension expense (income) for the three and nine months ended August 31, 2014 and 2013 was comprised of the following (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service costs incurred | $ | 1,516 | $ | 2,606 | $ | 7,609 | $ | 7,812 | ||||||||
Interest costs on projected benefit obligation | 2,117 | 1,766 | 6,358 | 5,227 | ||||||||||||
Expected return on plan assets | (2,088 | ) | (1,900 | ) | (6,312 | ) | (5,624 | ) | ||||||||
Amortization of prior service credit | (114 | ) | (336 | ) | (790 | ) | (1,008 | ) | ||||||||
Amortization of transitional obligation | 11 | — | 33 | — | ||||||||||||
Curtailment gain | (2,877 | ) | — | (2,877 | ) | — | ||||||||||
Net periodic pension expense (income) | $ | (1,435 | ) | $ | 2,136 | $ | 4,021 | $ | 6,407 | |||||||
Our net periodic postretirement expense was comprised of the following for the three and nine months ended August 31, 2014 and 2013 (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service costs incurred | $ | 4 | $ | 6 | $ | 12 | $ | 17 | ||||||||
Interest costs | 103 | 100 | 309 | 300 | ||||||||||||
Net periodic postretirement expense | $ | 107 | $ | 106 | $ | 321 | $ | 317 | ||||||||
Effective July 11, 2014, we discontinued future accruals to our U.S. Retirement Income Plan (U.S. RIP) and Supplemental Income Plan (SIP), which necessitated a remeasurement of our U.S. RIP obligation and resulted in a curtailment gain of $2.9 million that we recorded in the third quarter of 2014. In lieu of future accruals to the U.S. RIP and SIP, we will now provide an annual company non-elective contribution to the 401(k) accounts of affected eligible employees if they are active employees at the end of the calendar year. | ||||||||||||||||
In September 2014, we made a $10 million contribution to our U.S. RIP in order to increase plan funding and avoid certain additional variable rate premium costs. |
Stockbased_Compensation
Stock-based Compensation | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock-based Compensation [Text Block] | ' | |||||||||||||||
Stock-based Compensation | ||||||||||||||||
Stock-based compensation expense for the three and nine months ended August 31, 2014 and 2013 was as follows (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Cost of revenue | $ | 2,906 | $ | 2,649 | $ | 6,277 | $ | 5,625 | ||||||||
Selling, general and administrative | 44,821 | 41,584 | 121,446 | 109,169 | ||||||||||||
Total stock-based compensation expense | $ | 47,727 | $ | 44,233 | $ | 127,723 | $ | 114,794 | ||||||||
Total income tax benefits recognized for stock-based compensation arrangements were as follows (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income tax benefits | $ | 14,459 | $ | 14,597 | $ | 41,842 | $ | 36,523 | ||||||||
No stock-based compensation cost was capitalized during the three and nine months ended August 31, 2014 and 2013. | ||||||||||||||||
As of August 31, 2014, there was $136.0 million of unrecognized stock-based compensation cost, adjusted for estimated forfeitures, related to unvested stock-based awards that will be recognized over a weighted-average period of approximately 1.5 years. Total unrecognized stock-based compensation cost will be adjusted for future changes in estimated forfeitures and changes in estimated achievement of performance goals. | ||||||||||||||||
Restricted Stock Units (RSUs). The following table summarizes RSU activity during the nine months ended August 31, 2014: | ||||||||||||||||
Shares | Weighted- | |||||||||||||||
Average Grant | ||||||||||||||||
Date Fair Value | ||||||||||||||||
(in thousands) | ||||||||||||||||
Balance at November 30, 2013 | 3,017 | $ | 92.93 | |||||||||||||
Granted | 891 | $ | 114.31 | |||||||||||||
Vested | (1,231 | ) | $ | 90.48 | ||||||||||||
Forfeited | (153 | ) | $ | 103.27 | ||||||||||||
Balance at August 31, 2014 | 2,524 | $ | 101.05 | |||||||||||||
The total fair value of RSUs that vested during the nine months ended August 31, 2014 was $144.3 million. |
Income_Taxes
Income Taxes | 9 Months Ended |
Aug. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes [Text Block] | ' |
Income Taxes | |
Our effective tax rate is estimated based upon the effective tax rate expected to be applicable for the full year. | |
Our effective tax rate for the three and nine months ended August 31, 2014 was 24.6 percent and 23.1 percent, respectively, compared to 0.5 percent and 17.2 percent for the same periods of 2013. The lower tax rate in 2013 reflects the impact of discrete period items, including certain one-time expenses related to the Polk acquisition. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Aug. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies [Text Block] | ' |
Commitments and Contingencies | |
From time to time, we are involved in litigation in the ordinary course of our business, including claims or contingencies that may arise related to matters occurring prior to our acquisition of businesses, such as the matter described below. At the present time, primarily because the matters are generally in early stages, we can give no assurance as to the outcome of any pending litigation to which we are currently a party and we are unable to determine the ultimate resolution of or provide a reasonable estimate of the range of possible loss attributable to these matters or the effect they may have on us. However, we do not expect the outcome of such proceedings to have a material adverse effect on our results of operations or financial condition. We have and will continue to vigorously defend ourselves against these claims. | |
On April 23, 2013 (prior to the Polk acquisition), our CARFAX subsidiary (“CARFAX”) was served with a complaint filed in the U.S. District Court for the Southern District of New York, purportedly on behalf of certain auto and light truck dealers. The complaint alleges, among other things that, in violation of antitrust laws, CARFAX entered into exclusive arrangements regarding the sale of CARFAX vehicle history reports with certain auto manufacturers and owners of two websites providing classified listings of used autos and light trucks. The complaint seeks three times the actual damages that a jury finds the plaintiffs have sustained, injunctive relief, costs and attorneys’ fees. On October 25, 2013, the plaintiffs served a second amended complaint with similar allegations purporting to name approximately 469 auto dealers as plaintiffs. The proceedings are in an early stage and there are significant legal and factual issues to be determined. We believe, however, that the probability that the outcome of the litigation will have a material adverse effect on our results of operations or financial condition is remote. |
Earnings_per_Share
Earnings per Share | 9 Months Ended | |||||||||||
Aug. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||
Earnings per Share | ||||||||||||
Weighted-average shares of Class A common stock outstanding for the three and nine months ended August 31, 2014 and 2013 were calculated as follows (in thousands): | ||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Weighted-average shares outstanding: | ||||||||||||
Shares used in basic EPS calculation | 68,269 | 66,650 | 68,100 | 66,112 | ||||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock units | 642 | 676 | 710 | 729 | ||||||||
Stock options and other stock-based awards | — | — | — | 2 | ||||||||
Shares used in diluted EPS calculation | 68,911 | 67,326 | 68,810 | 66,843 | ||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) (Notes) | 9 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||
Accumulated other comprehensive income (loss) [Text Block] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||
ASU 2013-2 requires disclosure of additional information about changes in AOCI balances by component, including the effect of reclassifications out of AOCI on the respective line items in net income. The following table summarizes the changes in AOCI by component (net of tax) for the nine months ended August 31, 2014 (in thousands): | |||||||||||||||||
Foreign currency translation | Net pension and OPEB liability | Unrealized losses on hedging activities | Total | ||||||||||||||
Balance at November 30, 2013 | $ | (46,565 | ) | $ | (8,197 | ) | $ | (2,199 | ) | $ | (56,961 | ) | |||||
Other comprehensive income (loss) before reclassifications | (473 | ) | 1,329 | (5,604 | ) | (4,748 | ) | ||||||||||
Reclassifications from AOCI to income | — | (2,214 | ) | 1,116 | (1,098 | ) | |||||||||||
Balance at August 31, 2014 | $ | (47,038 | ) | $ | (9,082 | ) | $ | (6,687 | ) | $ | (62,807 | ) | |||||
Amounts reclassified from AOCI to income related to net pension and OPEB liability are recorded in net periodic pension and postretirement expense (income). |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||||||
Aug. 31, 2014 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Segment Information [Text Block] | ' | |||||||||||||||||||
Segment Information | ||||||||||||||||||||
We prepare our financial reports and analyze our business results within our three reportable geographic segments: Americas, EMEA, and APAC. We evaluate segment performance primarily at the revenue and operating profit level for each of these three segments. We also evaluate revenues by transaction type and product category. | ||||||||||||||||||||
Information about the operations of our three segments is set forth below. No single customer accounted for 10% or more of our total revenue for the three and nine months ended August 31, 2014 and 2013. There are no material inter-segment revenues for any period presented. Certain corporate transactions are not allocated to the reportable segments, including such items as stock-based compensation expense, net periodic pension and postretirement expense, corporate-level impairments, and gain (loss) on sale of corporate assets. | ||||||||||||||||||||
Americas | EMEA | APAC | Shared | Consolidated | ||||||||||||||||
Services | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Three months ended August 31, 2014 | ||||||||||||||||||||
Revenue | $ | 363,449 | $ | 138,120 | $ | 54,442 | $ | — | $ | 556,011 | ||||||||||
Operating income | $ | 90,178 | $ | 35,166 | $ | 10,587 | $ | (62,153 | ) | $ | 73,778 | |||||||||
Depreciation and amortization | $ | 41,846 | $ | 5,057 | $ | 2,317 | $ | 1,348 | $ | 50,568 | ||||||||||
Three months ended August 31, 2013 | ||||||||||||||||||||
Revenue | $ | 307,281 | $ | 122,247 | $ | 50,760 | $ | — | $ | 480,288 | ||||||||||
Operating income | $ | 71,366 | $ | 19,788 | $ | 8,967 | $ | (60,695 | ) | $ | 39,426 | |||||||||
Depreciation and amortization | $ | 34,368 | $ | 5,666 | $ | 558 | $ | 1,839 | $ | 42,431 | ||||||||||
Nine months ended August 31, 2014 | ||||||||||||||||||||
Revenue | $ | 1,090,656 | $ | 403,828 | $ | 153,993 | $ | — | $ | 1,648,477 | ||||||||||
Operating income | $ | 261,375 | $ | 94,226 | $ | 33,587 | $ | (172,983 | ) | $ | 216,205 | |||||||||
Depreciation and amortization | $ | 124,414 | $ | 16,162 | $ | 3,405 | $ | 5,366 | $ | 149,347 | ||||||||||
Nine months ended August 31, 2013 | ||||||||||||||||||||
Revenue | $ | 794,072 | $ | 344,662 | $ | 142,222 | $ | — | $ | 1,280,956 | ||||||||||
Operating income | $ | 213,014 | $ | 56,259 | $ | 28,964 | $ | (160,827 | ) | $ | 137,410 | |||||||||
Depreciation and amortization | $ | 83,833 | $ | 17,057 | $ | 1,495 | $ | 5,402 | $ | 107,787 | ||||||||||
Revenue by transaction type was as follows (in thousands): | ||||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Subscription revenue | $ | 432,128 | $ | 365,025 | $ | 1,275,848 | $ | 986,675 | ||||||||||||
Non-subscription revenue | 123,883 | 115,263 | 372,629 | 294,281 | ||||||||||||||||
Total revenue | $ | 556,011 | $ | 480,288 | $ | 1,648,477 | $ | 1,280,956 | ||||||||||||
Revenue by product category was as follows (in thousands): | ||||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Resources revenue | $ | 229,107 | $ | 218,345 | $ | 690,477 | $ | 630,541 | ||||||||||||
Industrials revenue | 185,267 | 119,149 | 538,336 | 245,997 | ||||||||||||||||
Horizontal products revenue | 141,637 | 142,794 | 419,664 | 404,418 | ||||||||||||||||
Total revenue | $ | 556,011 | $ | 480,288 | $ | 1,648,477 | $ | 1,280,956 | ||||||||||||
Significant_Accounting_Policie
Significant Accounting Policies (Policies) | 9 Months Ended |
Aug. 31, 2014 | |
Basis of Presentation and Significant Accounting Policies [Abstract] | ' |
Segment Reporting, Policy [Policy Text Block] | ' |
Certain corporate transactions are not allocated to the reportable segments, including such items as stock-based compensation expense, net periodic pension and postretirement expense, corporate-level impairments, and gain (loss) on sale of corporate assets. | |
Derivatives, Policy [Policy Text Block] | ' |
Since our derivative instruments are not listed on an exchange, we have evaluated fair value by reference to similar transactions in active markets; consequently, we have classified all of our derivative instruments within Level 2 of the fair value measurement hierarchy. | |
Debt, Policy [Policy Text Block] | ' |
We have classified short-term debt based on principal maturities and expected cash availability over the next 12 months. | |
Recent Accounting Pronouncements [Text Block] | ' |
Recent Accounting Pronouncements | |
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-2, which provides guidance on the reporting of reclassifications out of accumulated other comprehensive income (AOCI). This standard became effective for us in the first quarter of 2014. Under the new guidance, an entity is required to report the effect of significant reclassifications out of AOCI on the respective line items in net income if the amount being reclassified is required under U.S. generally accepted accounting principles (GAAP) to be reclassified in its entirety to net income. For amounts not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other GAAP disclosures that provide additional detail about those amounts. The adoption of this standard did not have an impact on our consolidated financial statements other than the change in disclosures. | |
In April 2014, the FASB issued ASU 2014-08, which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. The ASU is intended to reduce the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The standard will be effective for us in the first quarter of our fiscal year 2016, although early adoption is permitted. We do not expect that the adoption of this ASU will have a significant impact on our consolidated financial statements other than changing the classification criteria and related disclosures for any potential future disposals. | |
In May 2014, the FASB issued ASU 2014-09, which establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The ASU allows for the use of either the full or modified retrospective transition method, and the standard will be effective for us in the first quarter of our fiscal year 2018; early adoption is not permitted. We are currently evaluating the impact of this new standard on our consolidated financial statements, as well as which transition method we intend to use. | |
In August 2014, the FASB issued ASU 2014-15, which requires that management evaluate the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Disclosure is required if there is substantial doubt about the entity's ability to continue as a going concern. The standard will be effective for us in the fourth quarter of our fiscal year 2017, although early adoption is permitted. We do not expect that the adoption of this ASU will have a significant impact on our consolidated financial statements. |
Intangible_Assets_Tables
Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||||||||||
Aug. 31, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents details of our intangible assets, other than goodwill, as of August 31, 2014 and November 30, 2013 (in thousands): | ||||||||||||||||||||||||
As of August 31, 2014 | As of November 30, 2013 | |||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Amortization | Amortization | |||||||||||||||||||||||
Intangible assets subject to amortization: | ||||||||||||||||||||||||
Information databases | $ | 625,172 | $ | (223,567 | ) | $ | 401,605 | $ | 633,347 | $ | (194,904 | ) | $ | 438,443 | ||||||||||
Customer relationships | 506,481 | (108,570 | ) | 397,911 | 470,632 | (90,827 | ) | 379,805 | ||||||||||||||||
Developed computer software | 151,517 | (70,754 | ) | 80,763 | 159,413 | (64,514 | ) | 94,899 | ||||||||||||||||
Trademarks | 167,211 | (22,864 | ) | 144,347 | 167,179 | (13,300 | ) | 153,879 | ||||||||||||||||
Other | 20,705 | (8,562 | ) | 12,143 | 28,121 | (15,076 | ) | 13,045 | ||||||||||||||||
Total | $ | 1,471,086 | $ | (434,317 | ) | $ | 1,036,769 | $ | 1,458,692 | $ | (378,621 | ) | $ | 1,080,071 | ||||||||||
Intangible assets not subject to amortization: | ||||||||||||||||||||||||
Trademarks | 62,545 | — | 62,545 | 63,144 | — | 63,144 | ||||||||||||||||||
Perpetual licenses | 1,242 | — | 1,242 | 1,249 | — | 1,249 | ||||||||||||||||||
Total intangible assets | $ | 1,534,873 | $ | (434,317 | ) | $ | 1,100,556 | $ | 1,523,085 | $ | (378,621 | ) | $ | 1,144,464 | ||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the estimated future amortization expense related to intangible assets held as of August 31, 2014 (in thousands): | ||||||||||||||||||||||||
Year | Amount | |||||||||||||||||||||||
Remainder of 2014 | $ | 33,905 | ||||||||||||||||||||||
2015 | $ | 132,288 | ||||||||||||||||||||||
2016 | $ | 123,140 | ||||||||||||||||||||||
2017 | $ | 108,608 | ||||||||||||||||||||||
2018 | $ | 96,408 | ||||||||||||||||||||||
Thereafter | $ | 542,420 | ||||||||||||||||||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||
Aug. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
The following table summarizes total indebtedness as of August 31, 2014 and November 30, 2013 (in thousands): | |||||||||
August 31, 2014 | November 30, 2013 | ||||||||
Credit Facility: | |||||||||
Revolver | $ | 600,000 | $ | 770,000 | |||||
Term loans | 368,037 | 446,904 | |||||||
2012 term loan | 250,000 | 250,000 | |||||||
2013 term loan | 675,000 | 700,000 | |||||||
Capital leases | 7,239 | 7,688 | |||||||
Total debt | $ | 1,900,276 | $ | 2,174,592 | |||||
Current portion | (218,793 | ) | (395,527 | ) | |||||
Total long-term debt | $ | 1,681,483 | $ | 1,779,065 | |||||
Derivatives_Derivatives_Tables
Derivatives Derivatives (Tables) | 9 Months Ended | ||||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | ' | ||||||||||||||||||
The following table summarizes the notional amounts of these outstanding foreign currency forward contracts as of August 31, 2014 and November 30, 2013 (in thousands): | |||||||||||||||||||
August 31, 2014 | November 30, 2013 | ||||||||||||||||||
Notional amount of currency pair: | |||||||||||||||||||
Contracts to buy USD with CAD | $ | 58,734 | $ | 142,606 | |||||||||||||||
Contracts to buy CAD with GBP | C$ | — | C$ | 28,741 | |||||||||||||||
Contracts to buy USD with EUR | $ | 13,401 | $ | 17,522 | |||||||||||||||
Contracts to buy CHF with USD | $ | 14,373 | $ | 15,308 | |||||||||||||||
Contracts to buy GBP with EUR | £ | 4,815 | £ | 5,866 | |||||||||||||||
Contracts to buy USD with GBP | £ | 4,797 | £ | 1,863 | |||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | ||||||||||||||||||
The following table shows the classification, location, and fair value of our derivative instruments as of August 31, 2014 and November 30, 2013 (in thousands): | |||||||||||||||||||
Fair Value of Derivative Instruments | |||||||||||||||||||
August 31, 2014 | November 30, 2013 | Balance Sheet Location | |||||||||||||||||
Assets: | |||||||||||||||||||
Derivatives designated as accounting hedges: | |||||||||||||||||||
Foreign currency forwards | $ | 547 | $ | 8 | Other current assets | ||||||||||||||
Derivatives not designated as accounting hedges: | |||||||||||||||||||
Foreign currency forwards | 418 | 1,548 | Other current assets | ||||||||||||||||
Total | $ | 965 | $ | 1,556 | |||||||||||||||
Liabilities: | |||||||||||||||||||
Derivatives designated as accounting hedges: | |||||||||||||||||||
Interest rate swaps | $ | 11,601 | $ | 3,366 | Other accrued expenses | ||||||||||||||
Foreign currency forwards | — | 423 | Other accrued expenses | ||||||||||||||||
Derivatives not designated as accounting hedges: | |||||||||||||||||||
Foreign currency forwards | 291 | 957 | Other accrued expenses | ||||||||||||||||
Total | $ | 11,892 | $ | 4,746 | |||||||||||||||
Derivative Instruments, Gain (Loss) [Table Text Block] | ' | ||||||||||||||||||
The net gain on foreign currency forwards that are not designated as hedging instruments for the three and nine months ended August 31, 2014 and 2013, respectively, was as follows (in thousands): | |||||||||||||||||||
Amount of gain recognized in the consolidated statements of operations | |||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Location on consolidated statements of operations | |||||||||||||||
Foreign currency forwards | $ | 392 | $ | 1,835 | $ | 1,323 | $ | 5,790 | Other expense, net | ||||||||||
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||
The following table provides information about the cumulative amount of unrecognized hedge losses recorded in AOCI as of August 31, 2014 and November 30, 2013, as well as the activity on our cash flow hedging instruments for the three and nine months ended August 31, 2014 and 2013, respectively (in thousands): | |||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Beginning balance | $ | (6,963 | ) | $ | (1,664 | ) | $ | (2,199 | ) | $ | (2,225 | ) | |||||||
Amount of gain (loss) recognized in AOCI on derivative: | |||||||||||||||||||
Interest rate swaps | (366 | ) | 9 | (5,645 | ) | 42 | |||||||||||||
Foreign currency forwards | 212 | 67 | 41 | 152 | |||||||||||||||
Amount of loss (gain) reclassified from AOCI into income: | |||||||||||||||||||
Interest rate swaps (1) | 239 | 235 | 713 | 696 | |||||||||||||||
Foreign currency forwards (1) | 191 | 3 | 403 | (15 | ) | ||||||||||||||
Ending balance | $ | (6,687 | ) | $ | (1,350 | ) | $ | (6,687 | ) | $ | (1,350 | ) | |||||||
(1) Amounts reclassified from AOCI into income related to interest rate swaps are recorded in interest expense, and amounts reclassified from AOCI into income related to foreign currency forwards are recorded in revenue. |
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | ' | |||||||||||||||
The following table provides a reconciliation of the restructuring liability as of August 31, 2014 (in thousands): | ||||||||||||||||
Employee | Contract | Other | Total | |||||||||||||
Severance and | Termination | |||||||||||||||
Other | Costs | |||||||||||||||
Termination | ||||||||||||||||
Benefits | ||||||||||||||||
Balance at November 30, 2013 | $ | 2,569 | $ | 103 | $ | 23 | $ | 2,695 | ||||||||
Add: Restructuring costs incurred | 5,827 | 575 | 844 | 7,246 | ||||||||||||
Revision to prior estimates | (1,292 | ) | 449 | — | (843 | ) | ||||||||||
Less: Amount paid | (5,764 | ) | (1,078 | ) | (815 | ) | (7,657 | ) | ||||||||
Balance at August 31, 2014 | $ | 1,340 | $ | 49 | $ | 52 | $ | 1,441 | ||||||||
Acquisitionrelated_Costs_Table
Acquisition-related Costs (Tables) | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Acquisition Related Costs [Abstract] | ' | |||||||||||||||
Acquisition Related Cost Reserve Rollforward [Table Text Block] | ' | |||||||||||||||
The following table provides a reconciliation of the acquisition-related costs accrued liability as of August 31, 2014 (in thousands): | ||||||||||||||||
Employee | Contract | Other | Total | |||||||||||||
Severance and | Termination | |||||||||||||||
Other | Costs | |||||||||||||||
Termination | ||||||||||||||||
Benefits | ||||||||||||||||
Balance at November 30, 2013 | $ | 5,859 | $ | 201 | $ | 71 | $ | 6,131 | ||||||||
Add: Costs incurred | 743 | 515 | 27 | 1,285 | ||||||||||||
Revision to prior estimates | (285 | ) | 17 | — | (268 | ) | ||||||||||
Less: Amount paid | (5,141 | ) | (458 | ) | (98 | ) | (5,697 | ) | ||||||||
Balance at August 31, 2014 | $ | 1,176 | $ | 275 | $ | — | $ | 1,451 | ||||||||
Pensions_and_Postretirement_Be1
Pensions and Post-retirement Benefits (Tables) | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | |||||||||||||||
Our net periodic pension expense (income) for the three and nine months ended August 31, 2014 and 2013 was comprised of the following (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service costs incurred | $ | 1,516 | $ | 2,606 | $ | 7,609 | $ | 7,812 | ||||||||
Interest costs on projected benefit obligation | 2,117 | 1,766 | 6,358 | 5,227 | ||||||||||||
Expected return on plan assets | (2,088 | ) | (1,900 | ) | (6,312 | ) | (5,624 | ) | ||||||||
Amortization of prior service credit | (114 | ) | (336 | ) | (790 | ) | (1,008 | ) | ||||||||
Amortization of transitional obligation | 11 | — | 33 | — | ||||||||||||
Curtailment gain | (2,877 | ) | — | (2,877 | ) | — | ||||||||||
Net periodic pension expense (income) | $ | (1,435 | ) | $ | 2,136 | $ | 4,021 | $ | 6,407 | |||||||
Our net periodic postretirement expense was comprised of the following for the three and nine months ended August 31, 2014 and 2013 (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service costs incurred | $ | 4 | $ | 6 | $ | 12 | $ | 17 | ||||||||
Interest costs | 103 | 100 | 309 | 300 | ||||||||||||
Net periodic postretirement expense | $ | 107 | $ | 106 | $ | 321 | $ | 317 | ||||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Aug. 31, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||
Stock-based compensation expense for the three and nine months ended August 31, 2014 and 2013 was as follows (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Cost of revenue | $ | 2,906 | $ | 2,649 | $ | 6,277 | $ | 5,625 | ||||||||
Selling, general and administrative | 44,821 | 41,584 | 121,446 | 109,169 | ||||||||||||
Total stock-based compensation expense | $ | 47,727 | $ | 44,233 | $ | 127,723 | $ | 114,794 | ||||||||
Share Based Compensation Income Tax Benefit [Table Text Block] | ' | |||||||||||||||
Total income tax benefits recognized for stock-based compensation arrangements were as follows (in thousands): | ||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income tax benefits | $ | 14,459 | $ | 14,597 | $ | 41,842 | $ | 36,523 | ||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||||||
The following table summarizes RSU activity during the nine months ended August 31, 2014: | ||||||||||||||||
Shares | Weighted- | |||||||||||||||
Average Grant | ||||||||||||||||
Date Fair Value | ||||||||||||||||
(in thousands) | ||||||||||||||||
Balance at November 30, 2013 | 3,017 | $ | 92.93 | |||||||||||||
Granted | 891 | $ | 114.31 | |||||||||||||
Vested | (1,231 | ) | $ | 90.48 | ||||||||||||
Forfeited | (153 | ) | $ | 103.27 | ||||||||||||
Balance at August 31, 2014 | 2,524 | $ | 101.05 | |||||||||||||
Earnings_per_Share_Tables
Earnings per Share (Tables) | 9 Months Ended | |||||||||||
Aug. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||||
Weighted-average shares of Class A common stock outstanding for the three and nine months ended August 31, 2014 and 2013 were calculated as follows (in thousands): | ||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Weighted-average shares outstanding: | ||||||||||||
Shares used in basic EPS calculation | 68,269 | 66,650 | 68,100 | 66,112 | ||||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock units | 642 | 676 | 710 | 729 | ||||||||
Stock options and other stock-based awards | — | — | — | 2 | ||||||||
Shares used in diluted EPS calculation | 68,911 | 67,326 | 68,810 | 66,843 | ||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the changes in AOCI by component (net of tax) for the nine months ended August 31, 2014 (in thousands): | |||||||||||||||||
Foreign currency translation | Net pension and OPEB liability | Unrealized losses on hedging activities | Total | ||||||||||||||
Balance at November 30, 2013 | $ | (46,565 | ) | $ | (8,197 | ) | $ | (2,199 | ) | $ | (56,961 | ) | |||||
Other comprehensive income (loss) before reclassifications | (473 | ) | 1,329 | (5,604 | ) | (4,748 | ) | ||||||||||
Reclassifications from AOCI to income | — | (2,214 | ) | 1,116 | (1,098 | ) | |||||||||||
Balance at August 31, 2014 | $ | (47,038 | ) | $ | (9,082 | ) | $ | (6,687 | ) | $ | (62,807 | ) |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||||||
Aug. 31, 2014 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||||
Information about the operations of our three segments is set forth below. No single customer accounted for 10% or more of our total revenue for the three and nine months ended August 31, 2014 and 2013. There are no material inter-segment revenues for any period presented. Certain corporate transactions are not allocated to the reportable segments, including such items as stock-based compensation expense, net periodic pension and postretirement expense, corporate-level impairments, and gain (loss) on sale of corporate assets. | ||||||||||||||||||||
Americas | EMEA | APAC | Shared | Consolidated | ||||||||||||||||
Services | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Three months ended August 31, 2014 | ||||||||||||||||||||
Revenue | $ | 363,449 | $ | 138,120 | $ | 54,442 | $ | — | $ | 556,011 | ||||||||||
Operating income | $ | 90,178 | $ | 35,166 | $ | 10,587 | $ | (62,153 | ) | $ | 73,778 | |||||||||
Depreciation and amortization | $ | 41,846 | $ | 5,057 | $ | 2,317 | $ | 1,348 | $ | 50,568 | ||||||||||
Three months ended August 31, 2013 | ||||||||||||||||||||
Revenue | $ | 307,281 | $ | 122,247 | $ | 50,760 | $ | — | $ | 480,288 | ||||||||||
Operating income | $ | 71,366 | $ | 19,788 | $ | 8,967 | $ | (60,695 | ) | $ | 39,426 | |||||||||
Depreciation and amortization | $ | 34,368 | $ | 5,666 | $ | 558 | $ | 1,839 | $ | 42,431 | ||||||||||
Nine months ended August 31, 2014 | ||||||||||||||||||||
Revenue | $ | 1,090,656 | $ | 403,828 | $ | 153,993 | $ | — | $ | 1,648,477 | ||||||||||
Operating income | $ | 261,375 | $ | 94,226 | $ | 33,587 | $ | (172,983 | ) | $ | 216,205 | |||||||||
Depreciation and amortization | $ | 124,414 | $ | 16,162 | $ | 3,405 | $ | 5,366 | $ | 149,347 | ||||||||||
Nine months ended August 31, 2013 | ||||||||||||||||||||
Revenue | $ | 794,072 | $ | 344,662 | $ | 142,222 | $ | — | $ | 1,280,956 | ||||||||||
Operating income | $ | 213,014 | $ | 56,259 | $ | 28,964 | $ | (160,827 | ) | $ | 137,410 | |||||||||
Depreciation and amortization | $ | 83,833 | $ | 17,057 | $ | 1,495 | $ | 5,402 | $ | 107,787 | ||||||||||
Revenue from External Customers by Products and Services [Table Text Block] | ' | |||||||||||||||||||
Revenue by transaction type was as follows (in thousands): | ||||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Subscription revenue | $ | 432,128 | $ | 365,025 | $ | 1,275,848 | $ | 986,675 | ||||||||||||
Non-subscription revenue | 123,883 | 115,263 | 372,629 | 294,281 | ||||||||||||||||
Total revenue | $ | 556,011 | $ | 480,288 | $ | 1,648,477 | $ | 1,280,956 | ||||||||||||
Revenue by product category was as follows (in thousands): | ||||||||||||||||||||
Three months ended August 31, | Nine months ended August 31, | |||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Resources revenue | $ | 229,107 | $ | 218,345 | $ | 690,477 | $ | 630,541 | ||||||||||||
Industrials revenue | 185,267 | 119,149 | 538,336 | 245,997 | ||||||||||||||||
Horizontal products revenue | 141,637 | 142,794 | 419,664 | 404,418 | ||||||||||||||||
Total revenue | $ | 556,011 | $ | 480,288 | $ | 1,648,477 | $ | 1,280,956 | ||||||||||||
Business_Combinations_Business
Business Combinations Business Combinations (Details) (USD $) | 9 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2013 | |
Business Acquisition [Line Items] | ' | ' |
Purchase price for acquisitions, net of cash acquired | $133,938,000 | $1,481,288,000 |
Amortizing intangible assets acquired | 57,000,000 | ' |
Goodwill acquired during period | $82,000,000 | ' |
Intangible_Assets_Details
Intangible Assets (Details) (USD $) | Aug. 31, 2014 | Nov. 30, 2013 |
In Thousands, unless otherwise specified | ||
Acquired Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | $1,471,086 | $1,458,692 |
Finite-Lived Intangible Assets, Accumulated Amortization | -434,317 | -378,621 |
Finite-Lived Intangible Assets, Net | 1,036,769 | 1,080,071 |
Intangible Assets, Gross (Excluding Goodwill) | 1,534,873 | 1,523,085 |
Intangible assets, net | 1,100,556 | 1,144,464 |
Trademarks [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 62,545 | 63,144 |
Perpetual licenses [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 1,242 | 1,249 |
Information databases [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 625,172 | 633,347 |
Finite-Lived Intangible Assets, Accumulated Amortization | -223,567 | -194,904 |
Finite-Lived Intangible Assets, Net | 401,605 | 438,443 |
Customer relationships [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 506,481 | 470,632 |
Finite-Lived Intangible Assets, Accumulated Amortization | -108,570 | -90,827 |
Finite-Lived Intangible Assets, Net | 397,911 | 379,805 |
Developed computer software [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 151,517 | 159,413 |
Finite-Lived Intangible Assets, Accumulated Amortization | -70,754 | -64,514 |
Finite-Lived Intangible Assets, Net | 80,763 | 94,899 |
Trademarks [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 167,211 | 167,179 |
Finite-Lived Intangible Assets, Accumulated Amortization | -22,864 | -13,300 |
Finite-Lived Intangible Assets, Net | 144,347 | 153,879 |
Other [Member] | ' | ' |
Acquired Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 20,705 | 28,121 |
Finite-Lived Intangible Assets, Accumulated Amortization | -8,562 | -15,076 |
Finite-Lived Intangible Assets, Net | $12,143 | $13,045 |
Intangible_Assets_Schedule_of_
Intangible Assets Schedule of Future Amortization (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization expense | $33,200,000 | $29,500,000 | $100,100,000 | $74,100,000 |
Remainder of 2014 | 33,905,000 | ' | 33,905,000 | ' |
2015 | 132,288,000 | ' | 132,288,000 | ' |
2016 | 123,140,000 | ' | 123,140,000 | ' |
2017 | 108,608,000 | ' | 108,608,000 | ' |
2018 | 96,408,000 | ' | 96,408,000 | ' |
Thereafter | $542,420,000 | ' | $542,420,000 | ' |
Debt_Details
Debt (Details) (USD $) | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 |
Minimum [Member] | Maximum [Member] | 2012 term loan [Member] | 2013 term loan [Member] | Credit facility term loans [Member] | Credit facility term loans [Member] | 2012 term loan [Member] | 2012 term loan [Member] | 2013 term loan [Member] | 2013 term loan [Member] | |||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term debt | $218,793,000 | $395,527,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 1,681,483,000 | 1,779,065,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Weighted Average Interest Rate | 2.15% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | 250,000,000 | 700,000,000 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate Description | ' | ' | 'LIBOR plus a spread of 1.00 percent | 'LIBOR plus a spread of 2.25 percent | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | 0.15% | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | 600,000,000 | 770,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 1,293,037,000 | ' | ' | ' | ' | ' | 368,037,000 | 446,904,000 | 250,000,000 | 250,000,000 | 675,000,000 | 700,000,000 |
Capital Lease Obligations | 7,239,000 | 7,688,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt and Capital Lease Obligations | 1,900,276,000 | 2,174,592,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | 1.94% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding under Credit Facility | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivatives_Details
Derivatives (Details) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | Nov. 30, 2013 | Aug. 31, 2014 | 31-May-14 | Nov. 30, 2013 | Aug. 31, 2013 | 31-May-13 | Nov. 30, 2012 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Foreign currency forward contract to buy USD with CAD [Member] | Foreign currency forward contract to buy USD with CAD [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Forward-starting interest rate swap [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward contract to buy CAD with GBP [Member] | Foreign currency forward contract to buy CAD with GBP [Member] | Foreign currency forward contract to buy USD with EUR [Member] | Foreign currency forward contract to buy USD with EUR [Member] | Foreign currency forward contract to buy CHF with USD [Member] | Foreign currency forward contract to buy CHF with USD [Member] | Foreign currency forward contract to buy GBP with EUR [Member] | Foreign currency forward contract to buy GBP with EUR [Member] | Foreign currency forward contract to buy USD with GBP [Member] | Foreign currency forward contract to buy USD with GBP [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | CAD | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | ' | ' | ' | ' | $58,734,000 | $142,606,000 | $100,000,000 | ' | $100,000,000 | ' | $400,000,000 | $15,000,000 | ' | $15,000,000 | ' | $15,900,000 | 0 | 28,741,000 | $13,401,000 | $17,522,000 | $14,373,000 | $15,308,000 | £ 4,815,000 | £ 5,866,000 | £ 4,797,000 | £ 1,863,000 | ' | ' | ' | ' | ' | ' |
Derivative, Average Fixed Interest Rate | ' | ' | ' | ' | ' | ' | ' | 1.80% | ' | 1.80% | ' | 2.86% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated other comprehensive loss | -62,807,000 | ' | -62,807,000 | ' | -56,961,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,687,000 | -6,963,000 | -2,199,000 | -1,350,000 | -1,664,000 | -2,225,000 |
Unrealized gain (loss) on hedging activities | 276,000 | 314,000 | -4,488,000 | 875,000 | ' | ' | ' | -366,000 | 9,000 | -5,645,000 | 42,000 | ' | 212,000 | 67,000 | 41,000 | 152,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,604,000 | ' | ' | ' | ' | ' |
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | 392,000 | 1,835,000 | 1,323,000 | 5,790,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Cash Flow Hedge Asset at Fair Value | 547,000 | ' | 547,000 | ' | 8,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | 418,000 | ' | 418,000 | ' | 1,548,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 965,000 | ' | 965,000 | ' | 1,556,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Cash Flow Hedge Liability at Fair Value | 11,601,000 | ' | 11,601,000 | ' | 3,366,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Cash Flow Hedge Liability at Fair Value | 0 | ' | 0 | ' | 423,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value | 291,000 | ' | 291,000 | ' | 957,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 11,892,000 | ' | 11,892,000 | ' | 4,746,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | ' | ' | ' | ' | ' | ' | ' | $239,000 | $235,000 | $713,000 | $696,000 | ' | $191,000 | $3,000 | $403,000 | ($15,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,116,000 | ' | ' | ' | ' | ' |
Derivatives_Unrecognized_hedgi
Derivatives Unrecognized hedging losses in AOCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | 31-May-14 | Aug. 31, 2013 | 31-May-13 | Nov. 30, 2012 |
Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Foreign currency forward cash flow hedge [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||||
Hedging activities in AOCI [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | ($56,961) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($2,199) | ($6,963) | ($1,350) | ($1,664) | ($2,225) |
Unrealized gain (loss) on hedging activities | 276 | 314 | -4,488 | 875 | -366 | 9 | -5,645 | 42 | 212 | 67 | 41 | 152 | -5,604 | ' | ' | ' | ' |
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | ' | ' | ' | ' | 239 | 235 | 713 | 696 | 191 | 3 | 403 | -15 | 1,116 | ' | ' | ' | ' |
Balance at August 31, 2014 | ($62,807) | ' | ($62,807) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($6,687) | ($6,963) | ($1,350) | ($1,664) | ($2,225) |
Restructuring_Charges_Details
Restructuring Charges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
positions | ||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | $2,368 | $3,264 | $6,403 | $11,283 |
Restructuring charges, number of positions eliminated | ' | ' | 120 | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 2,695 | ' |
Add: Restructuring costs incurred | ' | ' | 7,246 | ' |
Revision to prior estimates | ' | ' | -843 | ' |
Less: Amount paid | ' | ' | -7,657 | ' |
Balance at August 31, 2014 | 1,441 | ' | 1,441 | ' |
Employee Severance [Member] | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 2,569 | ' |
Add: Restructuring costs incurred | ' | ' | 5,827 | ' |
Revision to prior estimates | ' | ' | -1,292 | ' |
Less: Amount paid | ' | ' | -5,764 | ' |
Balance at August 31, 2014 | 1,340 | ' | 1,340 | ' |
Contract Termination [Member] | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 103 | ' |
Add: Restructuring costs incurred | ' | ' | 575 | ' |
Revision to prior estimates | ' | ' | 449 | ' |
Less: Amount paid | ' | ' | -1,078 | ' |
Balance at August 31, 2014 | 49 | ' | 49 | ' |
Other Restructuring Charges [Member] | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 23 | ' |
Add: Restructuring costs incurred | ' | ' | 844 | ' |
Revision to prior estimates | ' | ' | 0 | ' |
Less: Amount paid | ' | ' | -815 | ' |
Balance at August 31, 2014 | 52 | ' | 52 | ' |
Americas Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | ' | ' | 3,300 | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at August 31, 2014 | 700 | ' | 700 | ' |
EMEA Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | ' | ' | 2,700 | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at August 31, 2014 | 700 | ' | 700 | ' |
APAC Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | ' | ' | $400 | ' |
Acquisitionrelated_Costs_Detai
Acquisition-related Costs (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Acquisition-related costs | $0 | $14,499 | $1,017 | $18,059 |
Acquisition-related Costs Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 6,131 | ' |
Add: Costs incurred | ' | ' | 1,285 | ' |
Revision to prior estimates | ' | ' | -268 | ' |
Less: Amount paid | ' | ' | -5,697 | ' |
Balance at August 31, 2014 | 1,451 | ' | 1,451 | ' |
Acquisition Related Employee Severance [Member] | ' | ' | ' | ' |
Acquisition-related Costs Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 5,859 | ' |
Add: Costs incurred | ' | ' | 743 | ' |
Revision to prior estimates | ' | ' | -285 | ' |
Less: Amount paid | ' | ' | -5,141 | ' |
Balance at August 31, 2014 | 1,176 | ' | 1,176 | ' |
Acquisition Related Contract Termination [Member] | ' | ' | ' | ' |
Acquisition-related Costs Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 201 | ' |
Add: Costs incurred | ' | ' | 515 | ' |
Revision to prior estimates | ' | ' | 17 | ' |
Less: Amount paid | ' | ' | -458 | ' |
Balance at August 31, 2014 | 275 | ' | 275 | ' |
Other Acquisition Related Costs [Member] | ' | ' | ' | ' |
Acquisition-related Costs Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | 71 | ' |
Add: Costs incurred | ' | ' | 27 | ' |
Revision to prior estimates | ' | ' | 0 | ' |
Less: Amount paid | ' | ' | -98 | ' |
Balance at August 31, 2014 | 0 | ' | 0 | ' |
Americas Segment [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Acquisition-related costs | ' | ' | 700 | ' |
Acquisition-related Costs Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at August 31, 2014 | 1,000 | ' | 1,000 | ' |
EMEA Segment [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Acquisition-related costs | ' | ' | 300 | ' |
Acquisition-related Costs Reserve [Roll Forward] | ' | ' | ' | ' |
Balance at August 31, 2014 | $500 | ' | $500 | ' |
Pensions_and_Postretirement_Be2
Pensions and Postretirement Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | ||||
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Sep. 15, 2014 | |
United States Postretirement Benefit Plan of US Entity [Member] | United States Postretirement Benefit Plan of US Entity [Member] | United States Postretirement Benefit Plan of US Entity [Member] | United States Postretirement Benefit Plan of US Entity [Member] | Subsequent Event [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service costs incurred | $1,516,000 | $2,606,000 | $7,609,000 | $7,812,000 | $4,000 | $6,000 | $12,000 | $17,000 | ' |
Interest costs on projected benefit obligation | 2,117,000 | 1,766,000 | 6,358,000 | 5,227,000 | 103,000 | 100,000 | 309,000 | 300,000 | ' |
Expected return on plan assets | -2,088,000 | -1,900,000 | -6,312,000 | -5,624,000 | ' | ' | ' | ' | ' |
Amortization of prior service credit | -114,000 | -336,000 | -790,000 | -1,008,000 | ' | ' | ' | ' | ' |
Amortization of transitional obligation | 11,000 | 0 | 33,000 | 0 | ' | ' | ' | ' | ' |
Curtailment gain | -2,877,000 | 0 | -2,877,000 | 0 | ' | ' | ' | ' | ' |
Net periodic pension expense (income) | -1,435,000 | 2,136,000 | 4,021,000 | 6,407,000 | 107,000 | 106,000 | 321,000 | 317,000 | ' |
Pension contribution | ' | ' | ' | ' | ' | ' | ' | ' | $10,000,000 |
Stockbased_Compensation_Detail
Stock-based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Capitalized stock-based compensation cost | $0 | $0 | $0 | $0 |
Income tax benefits | 14,459 | 14,597 | 41,842 | 36,523 |
Stock-based compensation expense | 47,727 | 44,233 | 127,723 | 114,794 |
Cost of revenue [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 2,906 | 2,649 | 6,277 | 5,625 |
Selling general and administrative [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $44,821 | $41,584 | $121,446 | $109,169 |
Stockbased_Compensation_Nonves
Stock-based Compensation Nonvested stock rollforward (Details) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' |
Balance at November 30, 2013, shares | 3,017 |
Weighted average grant date fair value, November 30, 2013 | $92.93 |
Granted shares | 891 |
Weighted average grant date fair value, granted | $114.31 |
Vested shares | -1,231 |
Weighted average grant date fair value, vested | $90.48 |
Forfeited shares | -153 |
Weighted average grant date fair value, forfeited | $103.27 |
Balance at August 31, 2014, shares | 2,524 |
Weighted average grant date fair value, May 31, 2014 | $101.05 |
Stockbased_Compensation_Textua
Stock-based Compensation Textuals (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unrecognized stock-based compensation cost | $136,000,000 | ' | $136,000,000 | ' |
Unrecognized stock-based compensation cost recognition period | ' | ' | '1 year 5 months 18 days | ' |
Capitalized stock-based compensation cost | 0 | 0 | 0 | 0 |
Fair value of shares that vested during the period | ' | ' | $144,300,000 | ' |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective Income Tax Rate, Continuing Operations | 24.60% | 0.50% | 23.10% | 17.20% |
Earnings_per_Share_Details
Earnings per Share (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Shares used in basic EPS calculation | 68,269 | 66,650 | 68,100 | 66,112 |
Effect of dilutive securities: | ' | ' | ' | ' |
Restricted stock units | 642 | 676 | 710 | 729 |
Stock options and other stock-based awards | 0 | 0 | 0 | 2 |
Shares used in diluted EPS calculation | 68,911 | 67,326 | 68,810 | 66,843 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2014 | 31-May-14 | Aug. 31, 2013 | 31-May-13 | Nov. 30, 2012 | Aug. 31, 2014 |
Accumulated Translation Adjustment [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Other Comprehensive Loss [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at November 30, 2013 | ' | ' | ($56,961) | ' | ($46,565) | ($8,197) | ($2,199) | ($6,963) | ($1,350) | ($1,664) | ($2,225) | ($56,961) |
Foreign currency translation adjustment | -3,557 | 296 | -473 | -32,792 | -473 | ' | ' | ' | ' | ' | ' | ' |
Reclassifications from AOCI to income, foreign currency translation | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications, net pension and OPEB liability | ' | ' | ' | ' | ' | 1,329 | ' | ' | ' | ' | ' | ' |
Reclassifications from AOCI to income, net pension and OPEB liability | ' | ' | ' | ' | ' | -2,214 | ' | ' | ' | ' | ' | ' |
Unrealized gain (loss) on hedging activities | 276 | 314 | -4,488 | 875 | ' | ' | -5,604 | ' | ' | ' | ' | ' |
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | ' | ' | ' | ' | ' | ' | 1,116 | ' | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,748 |
Reclassifications from AOCI to income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,098 |
Balance at August 31, 2014 | ($62,807) | ' | ($62,807) | ' | ($47,038) | ($9,082) | ($6,687) | ($6,963) | ($1,350) | ($1,664) | ($2,225) | ($62,807) |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $556,011 | $480,288 | $1,648,477 | $1,280,956 |
Operating income | 73,778 | 39,426 | 216,205 | 137,410 |
Depreciation and amortization | 50,568 | 42,431 | 149,347 | 107,787 |
Disclosure of Major Customers | '0 | '0 | '0 | '0 |
Americas Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 363,449 | 307,281 | 1,090,656 | 794,072 |
Operating income | 90,178 | 71,366 | 261,375 | 213,014 |
Depreciation and amortization | 41,846 | 34,368 | 124,414 | 83,833 |
EMEA Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 138,120 | 122,247 | 403,828 | 344,662 |
Operating income | 35,166 | 19,788 | 94,226 | 56,259 |
Depreciation and amortization | 5,057 | 5,666 | 16,162 | 17,057 |
APAC Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 54,442 | 50,760 | 153,993 | 142,222 |
Operating income | 10,587 | 8,967 | 33,587 | 28,964 |
Depreciation and amortization | 2,317 | 558 | 3,405 | 1,495 |
Segment Reconciling Items [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 0 | 0 | 0 | 0 |
Operating income | -62,153 | -60,695 | -172,983 | -160,827 |
Depreciation and amortization | $1,348 | $1,839 | $5,366 | $5,402 |
Segment_Information_Revenue_by
Segment Information Revenue by Transaction Type and Product Category (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | $556,011 | $480,288 | $1,648,477 | $1,280,956 |
Subscription Revenue [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | 432,128 | 365,025 | 1,275,848 | 986,675 |
Non-subscription Revenue [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | 123,883 | 115,263 | 372,629 | 294,281 |
Resources [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | 229,107 | 218,345 | 690,477 | 630,541 |
Industrials [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | 185,267 | 119,149 | 538,336 | 245,997 |
Horizontal Products [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | $141,637 | $142,794 | $419,664 | $404,418 |