Progress Software (PRGS) 10-Q 5 Apr 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Feb. 28, 2019	Mar. 27, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	PROGRESS SOFTWARE CORP /MA
Entity Central Index Key	0000876167
Document Type	10-Q
Document Period End Date	Feb. 28, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--11-30
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		44,494,726

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018	[1]
Current assets:
Cash and cash equivalents	$ 106,516	$ 105,126
Short-term investments	26,942	34,387
Total cash, cash equivalents and short-term investments	133,458	139,513
Accounts receivable (less allowances of $725 and $840, respectively)	54,572	59,715
Unbilled receivables	2,121	1,421
Other current assets	19,757	25,080
Assets held for sale	5,776	5,776
Total current assets	215,684	231,505
Long-term unbilled receivables	2,581	1,811
Property and equipment, net	29,351	30,714
Intangible assets, net	50,297	58,919
Goodwill	315,010	314,992
Deferred tax assets	889	966
Other assets	2,079	5,243
Total assets	615,891	644,150
Current liabilities:
Current portion of long-term debt, net	6,593	5,819
Accounts payable	9,823	10,593
Accrued compensation and related taxes	14,984	25,500
Dividends payable to shareholders	6,939	6,998
Income taxes payable	1,233	1,228
Other accrued liabilities	11,887	12,686
Short-term deferred revenue	130,569	123,210
Total current liabilities	182,028	186,034
Long-term debt, net	108,042	110,270
Long-term deferred revenue	11,614	12,730
Deferred tax liabilities	2,665	5,799
Other noncurrent liabilities	4,840	5,315
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.01 par value; authorized, 10,000,000 shares; issued, none	0	0
Common stock, $0.01 par value, and additional paid-in capital; authorized, 200,000,000 shares; issued and outstanding, 44,473,947 shares in 2019 and 45,114,935 shares in 2018	272,854	267,053
Retained earnings	60,462	85,125
Accumulated other comprehensive loss	(26,614)	(28,176)
Total shareholders’ equity	306,702	324,002	[2]
Total liabilities and shareholders’ equity	$ 615,891	$ 644,150
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018	[1]
Assets
Allowance for accounts receivable (in dollars)	$ 725	$ 840
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	44,473,947	45,114,935
Common stock, shares outstanding (in shares)	44,473,947	45,114,935
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	[1]
Revenue:
Total revenue	$ 89,549	$ 95,410
Costs of revenue:
Total costs of revenue	16,039	16,903
Gross profit	73,510	78,507
Operating expenses:
Sales and marketing	22,323	21,428
Product development	19,890	20,245
General and administrative	12,285	11,262
Amortization of acquired intangibles	3,188	3,319
Fees related to shareholder activist	0	1,258
Restructuring expenses	415	1,821
Acquisition-related expenses	0	43
Total operating expenses	58,101	59,376
Income from operations	15,409	19,131
Other (expense) income:
Interest expense	(1,389)	(1,165)
Interest income and other, net	229	408
Foreign currency loss, net	(843)	(828)
Total other expense, net	(2,003)	(1,585)
Income before income taxes	13,406	17,546
Provision for income taxes	4,004	3,814
Net income	$ 9,402	$ 13,732
Earnings per share:
Basic (in dollars per share)	$ 0.21	$ 0.30
Diluted (in dollars per share)	$ 0.21	$ 0.29
Weighted average shares outstanding:
Basic (in shares)	44,956	46,529
Diluted (in shares)	45,286	47,476
Cash dividends declared per common share (in dollars per share)	$ 0.155	$ 0.14
Software licenses
Revenue:
Total revenue	$ 22,802	$ 26,054
Costs of revenue:
Total costs of revenue	1,167	1,261
Maintenance and services
Revenue:
Total revenue	66,747	69,356
Costs of revenue:
Total costs of revenue	9,439	9,824
Amortization of acquired intangibles
Costs of revenue:
Total costs of revenue	$ 5,433	$ 5,818
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	[1]
Statement of Comprehensive Income [Abstract]
Net income	$ 9,402	$ 13,732	[2]
Other comprehensive income, net of tax:
Foreign currency translation adjustments	1,479	3,831
Unrealized gain (loss) on investments, net of tax provision of $30 and $39 for 2019 and 2018, respectively	83	(27)
Total other comprehensive income, net of tax	1,562	3,804
Comprehensive income	$ 10,964	$ 17,536
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Statement of Comprehensive Income [Abstract]
Tax provision (benefit) included in accumulated unrealized gains on investments	$ 30	$ 39

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders’ Equity - USD ($) $ in Thousands		Total		Common Stock		Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Nov. 30, 2017	[1]			47,281,000
Beginning balance at Nov. 30, 2017	[1]	$ 411,349		$ 473		$ 249,363	$ 179,919	$ (18,406)
Issuance of stock under employee stock purchase plan (in shares)				48,000
Issuance of stock under employee stock purchase plan		1,095				1,095
Exercise of stock options (in shares)				23,000
Exercise of stock options		669				669
Stock-based compensation		4,570				4,570
Dividends declared		$ (6,482)					(6,482)
Treasury stock repurchases and retirements (in shares)		(1,100,000)		(1,054,000)
Treasury stock repurchases and retirements		$ (45,000)		$ (10)		(1,754)	(43,236)
Net income		13,732	[2],[3]				13,732
Other comprehensive income		3,804	[2]					3,804
Ending balance (in shares) at Feb. 28, 2018	[1]			46,298,000
Ending balance at Feb. 28, 2018	[1]	$ 383,737		$ 463		254,584	143,292	(14,602)
Beginning balance (in shares) at Nov. 30, 2018		45,114,935	[4]	45,115,000	[1]
Beginning balance at Nov. 30, 2018	[1]	$ 324,002	[4]	$ 451		266,602	85,125	(28,176)
Issuance of stock under employee stock purchase plan (in shares)				38,000
Issuance of stock under employee stock purchase plan		997				997
Exercise of stock options (in shares)				9,000
Exercise of stock options		268				268
Withholding tax payments related to net issuance of restricted stock units		(5)				(5)
Stock-based compensation		5,806				5,806
Dividends declared		$ (6,933)					(6,933)
Treasury stock repurchases and retirements (in shares)		(700,000)		(688,000)
Treasury stock repurchases and retirements		$ (25,000)		$ (5)		(1,260)	(23,735)
Net income		9,402					9,402
Other comprehensive income		$ 1,562						1,562
Ending balance (in shares) at Feb. 28, 2019		44,473,947		44,474,000
Ending balance at Feb. 28, 2019		$ 306,702		$ 446		$ 272,408	$ 60,462	$ (26,614)
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[3]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307
[4]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Feb. 28, 2019	Feb. 28, 2018	[2]
Cash flows from operating activities:
Net income		$ 9,402	$ 13,732	[1]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment		1,620	1,682
Amortization of acquired intangibles and other		8,866	9,620
Stock-based compensation		5,806	4,570
Loss on disposal of property and equipment		153	135
Deferred income taxes		(3,069)	137
Allowances for bad debt and sales credits		89	137
Changes in operating assets and liabilities:
Accounts receivable		3,861	8,667
Other assets		5,147	2,382
Accounts payable and accrued liabilities		(13,128)	(17,830)
Income taxes payable		(246)	(290)
Deferred revenue		5,943	8,653
Net cash flows from operating activities		24,444	31,595
Cash flows from (used in) investing activities:
Purchases of investments		(750)	(7,374)
Sales and maturities of investments		8,155	6,816
Purchases of property and equipment		(246)	(1,386)
Net cash flows from (used in) investing activities		7,159	(1,944)
Cash flows used in financing activities:
Proceeds from stock-based compensation plans		1,894	2,469
Repurchases of common stock		(25,000)	(45,000)
Dividend payments to shareholders		(6,992)	(6,619)
Payment of principal on long-term debt		(1,547)	(1,547)
Net cash flows used in financing activities		(31,645)	(50,697)
Effect of exchange rate changes on cash		1,432	4,693
Net increase (decrease) in cash and cash equivalents		1,390	(16,353)
Cash and cash equivalents, beginning of period	[3]	105,126
Cash and cash equivalents, end of period		106,516
Supplemental disclosure:
Cash paid for income taxes, net of refunds of $166 in 2019 and $307 in 2018		1,496	1,614
Cash paid for interest		1,169	942
Non-cash investing and financing activities:
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested		76	43
Dividends declared		$ 6,939	$ 6,482
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307
[3]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Statement of Cash Flows [Abstract]
Income tax refunds	$ 166	$ 307	[1]
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Basis of Presentation

Basis of Presentation	3 Months Ended
	Feb. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Company Overview - Progress Software Corporation ("Progress," the "Company," "we," "us," or "our") offers the leading platform for developing and deploying strategic business applications. We enable customers and partners to deliver modern, high-impact digital experiences with a fraction of the effort, time and cost. Progress offers powerful tools for easily building adaptive user experiences across any type of device or touchpoint, award-winning machine learning that enables cognitive capabilities to be a part of any application, the flexibility of a serverless cloud to deploy modern apps, business rules, web content management, plus leading data connectivity technology. Over 1,700 ISVs, 100,000 enterprise customers, and 2 million developers rely on Progress to power their applications. Our products are generally sold as perpetual licenses, but certain products also use term licensing models and our cloud-based offerings use a subscription-based model. More than half of our worldwide license revenue is realized through relationships with indirect channel partners, principally application partners and original equipment manufacturers ("OEMs"). Application partners are ISVs that develop and market applications using our technology and resell our products in conjunction with sales of their own products that incorporate our technology. OEMs are companies that embed our products into their own software products or devices. We operate in North America and Latin America (the "Americas"); Europe, the Middle East and Africa ("EMEA"); and the Asia Pacific region, through local subsidiaries as well as independent distributors. Basis of Presentation and Significant Accounting Policies - We prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements and these unaudited financial statements should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018 , ("Annual Report on Form 10-K for the fiscal year ended November 30, 2018 "). We adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASC 606") effective December 1, 2018 using the full retrospective method, which required us to retroactively adjust comparative prior periods to conform to current presentation. See " Recently Adopted Accounting Pronouncements " below for further information. We made no material changes in the application of our significant accounting policies that were disclosed in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018 , except as discussed below with respect to our adoption of ASC 606. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018 , and these financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full fiscal year. Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an on-going basis, management evaluates its estimates and records changes in estimates in the period in which they become known. These estimates are based on historical data and experience, as well as various other assumptions that management believes to be reasonable under the circumstances. The most significant estimates relate to: the timing and amounts of revenue recognition, including the determination of the nature and timing of the satisfaction of performance obligations, the standalone selling price of performance obligations, and the transaction price allocated to performance obligations; the realization of tax assets and estimates of tax liabilities; fair values of investments in marketable securities; assets held for sale; intangible assets and goodwill valuations; the recognition and disclosure of contingent liabilities; the collectability of accounts receivable; and assumptions used to determine the fair value of stock-based compensation. Actual results could differ from those estimates. Revenue Recognition Revenue Policy We derive our revenue primarily from software licenses and maintenance and services. Our license arrangements generally contain multiple performance obligations, including software maintenance services. Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We recognize revenue through the application of the following steps: (i) identification of the contract(s) with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to performance obligations in the contract; and (v) recognition of revenue when or as we satisfy the performance obligations. Sales taxes collected from customers and remitted to government authorities are excluded from revenue and we do not license our software with a right of return. Software Licenses Software licenses are on-premise and fully functional when made available to the customer. As the customer can use and benefit from the license on its own, on-premise software licenses represent distinct performance obligations. Revenue is recognized upfront at the point in time when control is transferred, which is defined as the point in time when the client can use and benefit from the license. Our licenses are sold as perpetual or term licenses, and the arrangements typically contain various combinations of maintenance and services, which are generally accounted for as separate performance obligations. We use the residual approach to allocate the transaction price to our software license performance obligations because, due to the pricing of our licenses being highly variable, they do not have an observable stand-alone selling price ("SSP"). As required, we evaluate the residual approach estimate compared to all available observable data in order to conclude the estimate is representative of its SSP. Perpetual licenses are generally invoiced upon execution of the contract and payable within 30 days. Term licenses are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years. Any difference between the revenue recognized and the amount invoiced to the customer is recognized on our consolidated balance sheets as unbilled receivables until the customer is invoiced, at which point the amount is reclassed to accounts receivable. Maintenance Maintenance revenue is made up of technical support, bug fixes, and when-and-if available unspecified software upgrades. As these maintenance services are considered to be a series of distinct services that are substantially the same and have the same duration and measure of progress, we have concluded that they represent one combined performance obligation. Revenue is recognized ratably over the contract period. The SSP of maintenance services is a percentage of the net selling price of the related software license, which has remained within a tight range and is consistent with the stand-alone pricing of subsequent maintenance renewals. Maintenance services are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years. Services Services revenue primarily includes consulting and customer education services. In general, services are distinct performance obligations. Services revenue is generally recognized as the services are delivered to the customer. We apply the practical expedient of recognizing revenue upon invoicing for time and materials-based arrangements as the invoiced amount corresponds to the value of the services provided. The SSP of services is based upon observable prices in similar transactions using the hourly rates sold in stand-alone services transactions. Services are either sold on a time and materials basis or prepaid upfront. We also offer products via a software-as-a-service ("SaaS") model, which is a subscription-based model. Our customers can use hosted software over the contract period without taking possession of it and the cloud services are available to them throughout the entire term, even if they do not use the service. Revenue related to SaaS offerings is recognized ratably over the contract period. The SSP of SaaS performance obligations is determined based upon observable prices in stand-alone SaaS transactions. SaaS arrangements are generally invoiced in advance on a monthly, quarterly, or annual basis over the term of the arrangement, which is typically one to three years. Arrangements with Multiple Performance Obligations When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We allocate the transaction price to each performance obligation in a contract based on its relative SSP. Although we do not have a history of offering these elements, prior to allocating the transaction price to each performance obligation, we consider whether the arrangement has any discounts, material rights, or specified future upgrades that may represent additional performance obligations. Determining whether products and services are distinct performance obligations and the determination of the SSP may require significant judgment. Contract Balances Unbilled Receivables and Contract Assets The timing of revenue recognition may differ from the timing of customer invoicing. When revenue is recognized prior to invoicing and the right to the amount due from customers is conditioned only on the passage of time, we record an unbilled receivable on our condensed consolidated balance sheets. Our multi-year term license arrangements, which are typically billed annually, result in revenue recognition in advance of invoicing and the recognition of unbilled receivables. As of February 28, 2019 , invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2020 $ 1,048 2021 1,089 2022 444 Total $ 2,581 Contract assets, which arise when revenue is recognized prior to invoicing and the right to the amount due from customers is conditioned on something other than the passage of time, such as the completion of a related performance obligation, were minimal as of February 28, 2019 and November 30, 2018. These amounts are included in unbilled receivables or long-term unbilled receivables on our condensed consolidated balance sheets. Deferred Revenue Deferred revenue is recorded when revenue is recognized subsequent to customer invoicing. Our deferred revenue balance is primarily made up of deferred maintenance from our OpenEdge and Application Development and Deployment segments. As of February 28, 2019 , the changes in deferred revenue were as follows (in thousands): Balance, December 1, 2018 As Adjusted (1) $ 135,940 Billings and other 95,792 Revenue recognized (89,549 ) Balance, February 28, 2019 $ 142,183 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. Transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. As of February 28, 2019 , transaction price allocated to remaining performance obligations was $143 million . We expect to recognize approximately 92% of the revenue within the next year and the remainder thereafter. Deferred Contract Costs Deferred contract costs, which include certain sales incentive programs, are incremental and recoverable costs of obtaining a contract with a customer. Incremental costs of obtaining a contract with a customer are recognized as an asset if the expected benefit of those costs are longer than one year. We have applied the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include a large majority of our sales incentive programs as we have determined that annual compensation is commensurate with annual sales activities. Certain of our sales incentive programs do meet the requirements to be capitalized. Depending upon the sales incentive program and the related revenue arrangement, such capitalized costs are amortized over the longer of (i) the product life, which is generally three to five years; or (ii) the term of the related revenue contract. We determined that a three to five year product life represents the period of benefit that we receive from these incremental costs based on both qualitative and quantitative factors, which include customer contracts, industry norms, and product upgrades. Total deferred contract costs were minimal as of February 28, 2019 and November 30, 2018 and are included in other current assets and other assets on our condensed consolidated balance sheets. Amortization of deferred contract costs is included in sales and marketing expense on our condensed consolidated statement of operations and was minimal in all periods presented. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory ("ASU 2016-16"), which requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Under legacy GAAP, the recognition of current and deferred income taxes for an intra-entity transfer was prohibited until the asset has been sold to an outside party. We adopted this standard at the beginning of the first quarter of fiscal year 2019. Upon adoption, we reclassified approximately $3.4 million from non-current prepaid taxes, which is included in other assets on our consolidated balance sheet, to retained earnings as of December 1, 2018. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"). Under this standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. The standard also requires new disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and provides guidance on the recognition of costs related to obtaining customer contracts. We adopted this ASU effective December 1, 2018 in accordance with the full retrospective approach, which required us to retrospectively adjust certain previously reported results in the comparative prior periods presented. Upon adoption, we recorded a cumulative $31 million increase to our 2017 beginning retained earnings balance, a $15 million decrease to deferred revenue, a $28 million increase to unbilled receivables, and a $12 million increase to deferred tax liabilities. The revenue recognition related to accounting for the following transactions is most impacted by our adoption of this standard: • Revenue from term licenses with extended payment terms over the term of the agreement within our Data Connectivity and Integration segment - Under the applicable revenue recognition guidance for fiscal years 2018 and prior, these transactions were recognized when the amounts were billed to the customer. In accordance with ASC 606, revenue from term license performance obligations is recognized upon delivery and revenue from maintenance performance obligations is expected to be recognized over the contract term. To the extent that we enter into these transactions, revenue from term licenses with extended payment terms will be recognized prior to the customer being billed and we will recognize an unbilled receivable on the balance sheet. Accordingly, the recognition of license revenue is accelerated under ASC 606 as we historically did not recognize revenue until the amounts had been billed to the customer. • Revenue from transactions with multiple elements within our Application Development and Deployment segment (i.e., sales of perpetual licenses with maintenance and/or support) - Under the applicable revenue recognition guidance for fiscal years 2018 and prior, these transactions were recognized ratably over the associated maintenance period as the Company did not have vendor specific objective evidence ("VSOE") for maintenance or support. Under ASC 606, the requirement to have VSOE for undelivered elements that existed under prior guidance is eliminated. Accordingly, the Company will recognize a portion of the sales price as revenue upon delivery of the license instead of recognizing the entire sales price ratably over the maintenance period. The impact of the adoption of this standard on our previously reported consolidated balance sheets and consolidated statements of operations is as follows: Consolidated Balance Sheets November 30, 2018 (in thousands) As Reported Adjustments As Adjusted Assets Accounts receivable, net $ 58,450 $ 1,265 $ 59,715 Short-term unbilled receivables — 1,421 1,421 Long-term unbilled receivables — 1,811 1,811 Deferred tax assets 1,922 (956 ) 966 Other assets (1) 580,237 — 580,237 Total assets $ 640,609 $ 3,541 $ 644,150 Liabilities and shareholders’ equity Short-term deferred revenue 133,194 (9,984 ) 123,210 Long-term deferred revenue 15,127 (2,397 ) 12,730 Deferred tax liabilities 3,797 2,002 5,799 Other liabilities (2) 178,409 — 178,409 Retained earnings 71,242 13,883 85,125 Accumulated other comprehensive loss (28,213 ) 37 (28,176 ) Other equity (3) 267,053 — 267,053 Total liabilities and shareholders’ equity $ 640,609 $ 3,541 $ 644,150 (1) Includes cash and cash equivalents, short-term investments, other current assets, assets held for sale, property and equipment, net, intangible assets, net, goodwill, and other assets. (2) Includes current portion of long-term debt, net, accounts payable, accrued compensation and related taxes, dividends payable, income taxes payable, other accrued liabilities, long-term debt, net, and other noncurrent liabilities. (3) Includes common stock and additional paid-in capital. Consolidated Statements of Income February 28, 2018 (in thousands) As Reported Adjustments As Adjusted Revenue: Software licenses $ 25,343 $ 711 $ 26,054 Maintenance and services 68,704 652 69,356 Total revenue 94,047 1,363 95,410 Costs of revenue 16,903 — 16,903 Gross Profit 77,144 1,363 78,507 Operating expenses 59,376 — 59,376 Income from operations 17,768 1,363 19,131 Other expense, net (1,585 ) — (1,585 ) Income before income taxes 16,183 1,363 17,546 Provision for income taxes 3,271 543 3,814 Net income $ 12,912 $ 820 $ 13,732 Earnings per share: Basic $ 0.28 $ 0.02 $ 0.30 Diluted $ 0.27 $ 0.02 $ 0.29 Weighted average shares outstanding: Basic 46,529 — 46,529 Diluted 47,476 — 47,476 The adoption of ASC 606 had no impact on total cash from or used in operating, financing, or investing activities on our consolidated cash flow statements. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). ASU 2018-15 amends current guidance to align the accounting for costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs associated with developing or obtaining internal-use software. Capitalized implementation costs must be expensed over the term of the hosting arrangement and presented in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement. The guidance in ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, with early adoption permitted. We are currently accounting for costs incurred in a cloud computing arrangement in accordance with the guidance provided in ASU 2018-15. In August 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12"). ASU 2017-12 intends to better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The amendments expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance in ASU 2017-12 is required for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the effect that implementation of this update will have upon adoption on our consolidated financial position and results of operations. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 amends Topic 350 to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. This update requires the performance of an annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. However, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance in ASU 2017-04 is required for annual reporting periods beginning after December 15, 2019, with early adoption permitted. We are currently considering whether to adopt this update prior to the required adoption date. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) ("ASU 2016-02"), which requires lessees to record most leases on their balance sheets, recognizing a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The guidance in ASU 2016-02 is required for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We currently expect that most of our operating lease commitments will be subject to the update and recognized as operating lease liabilities and right-of-use assets upon adoption. However, we are currently evaluating the effect that implementation of this update will have upon adoption on our consolidated financial position and results of operations.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	3 Months Ended
	Feb. 28, 2019
Investments and Cash [Abstract]
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments A summary of our cash, cash equivalents and available-for-sale investments at February 28, 2019 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 94,904 $ — $ — $ 94,904 Money market funds 11,612 — — 11,612 State and municipal bond obligations 14,406 — (58 ) 14,348 U.S. treasury bonds 4,387 — (8 ) 4,379 Corporate bonds 8,246 — (31 ) 8,215 Total $ 133,555 $ — $ (97 ) $ 133,458 A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2018 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 101,316 $ — $ — $ 101,316 Money market funds 3,810 — — 3,810 State and municipal bond obligations 19,542 — (119 ) 19,423 U.S. treasury bonds 6,726 — (21 ) 6,705 Corporate bonds 8,329 — (70 ) 8,259 Total $ 139,723 $ — $ (210 ) $ 139,513 Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands): February 28, 2019 November 30, 2018 Cash and Equivalents Short-Term Investments Cash and Equivalents Short-Term Investments Cash $ 94,904 $ — $ 101,316 $ — Money market funds 11,612 — 3,810 — State and municipal bond obligations — 14,348 — 19,423 U.S. treasury bonds — 4,379 — 6,705 Corporate bonds — 8,215 — 8,259 Total $ 106,516 $ 26,942 $ 105,126 $ 34,387 The fair value of debt securities by contractual maturity is as follows (in thousands): February 28, November 30, Due in one year or less $ 22,327 $ 25,051 Due after one year (1) 4,615 9,336 Total $ 26,942 $ 34,387 (1) Includes state and municipal bond obligations and corporate bonds, which are securities representing investments available for current operations and are classified as current on the condensed consolidated balance sheets. We did not hold any investments with continuous unrealized losses as of February 28, 2019 or November 30, 2018 .

Derivative Instruments

Derivative Instruments	3 Months Ended
	Feb. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments We generally use forward contracts that are not designated as hedging instruments to hedge economically the impact of the variability in exchange rates on intercompany accounts receivable and loans receivable denominated in certain foreign currencies. We generally do not hedge the net assets of our international subsidiaries. All forward contracts are recorded at fair value on the consolidated balance sheets at the end of each reporting period and expire between 30 days and one year from the date the contract was entered. At February 28, 2019 , $0.3 million was recorded in other current assets on the condensed consolidated balance sheets. At November 30, 2018 , $0.3 million and $0.1 million was recorded in other noncurrent liabilities and other current assets , respectively, on the condensed consolidated balance sheets. In the three months ended February 28, 2019 and February 28, 2018 , realized and unrealized gains of $0.7 million and $3.6 million , respectively, from our forward contracts were recognized in foreign currency loss, net on the condensed consolidated statements of operations. The gains were substantially offset by realized and unrealized losses on the offsetting positions. The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands): February 28, 2019 November 30, 2018 Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 63,904 $ 324 $ 105,830 $ (170 ) Forward contracts to purchase U.S. dollars 495 (2 ) 240 — Total $ 64,399 $ 322 $ 106,070 $ (170 )

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Feb. 28, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Recurring Fair Value Measurements The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2019 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 11,612 $ 11,612 $ — $ — State and municipal bond obligations 14,348 — 14,348 — U.S. treasury bonds 4,379 — 4,379 — Corporate bonds 8,215 — 8,215 — Foreign exchange derivatives $ 322 $ — $ 322 $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2018 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 3,810 $ 3,810 $ — $ — State and municipal bond obligations 19,423 — 19,423 — U.S. treasury bonds 6,705 — 6,705 — Corporate bonds 8,259 — 8,259 — Liabilities Foreign exchange derivatives $ (170 ) $ — $ (170 ) $ — When developing fair value estimates, we maximize the use of observable inputs and minimize the use of unobservable inputs. When available, we use quoted market prices to measure fair value. The valuation technique used to measure fair value for our Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. If market prices are not available, the fair value measurement is based on models that use primarily market based parameters including yield curves, volatilities, credit ratings and currency rates. In certain cases where market rate assumptions are not available, we are required to make judgments about assumptions market participants would use to estimate the fair value of a financial instrument. Nonrecurring Fair Value Measurements During the fourth quarter of fiscal year 2018, certain assets were measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). Based on the fair value measurement, we recorded a $5.1 million asset impairment charge as of November 30, 2018 related to certain corporate land and building assets previously reported as property and equipment, net that we reclassified to assets held for sale on our consolidated balance sheet. The following table presents nonrecurring fair value measurements as of November 30, 2018 (in thousands): Total Fair Value Total Losses Assets held for sale $ 5,776 $ 5,147 The fair value measurement of the assets held for sale were measured using third-party valuation models and were determined using an income-based valuation methodology, which includes discounted expected cash flows. As the discounted cash flows represent unobservable inputs, the fair value was classified as a Level 3 measurement within the fair value hierarchy. The expected cash flows include proceeds from the sale, offset by the costs incurred to sell the assets. We did not have any nonrecurring fair value measurements as of February 28, 2019.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Feb. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Intangible assets are comprised of the following significant classes (in thousands): February 28, 2019 November 30, 2018 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 146,501 $ (108,599 ) $ 37,902 $ 154,301 $ (110,959 ) $ 43,342 Customer-related 67,642 (58,901 ) 8,741 67,802 (56,589 ) 11,213 Trademarks and trade names 17,740 (14,086 ) 3,654 17,740 (13,376 ) 4,364 Total $ 231,883 $ (181,586 ) $ 50,297 $ 239,843 $ (180,924 ) $ 58,919 In the first quarter of fiscal years 2019 and 2018 , amortization expense related to intangible assets was $8.6 million and $9.1 million , respectively. Future amortization expense for intangible assets as of February 28, 2019 is as follows (in thousands): Remainder of 2019 $ 26,310 2020 10,152 2021 10,033 2022 3,802 Total $ 50,297 Goodwill Changes in the carrying amount of goodwill in the three months ended February 28, 2019 are as follows (in thousands): Balance, November 30, 2018 $ 314,992 Translation adjustments 18 Balance, February 28, 2019 $ 315,010 Changes in the goodwill balances by reportable segment in the three months ended February 28, 2019 are as follows (in thousands): November 30, 2018 Translation adjustments February 28, 2019 OpenEdge $ 248,987 $ 18 $ 249,005 Data Connectivity and Integration 19,040 — 19,040 Application Development and Deployment 46,965 — 46,965 Total goodwill $ 314,992 $ 18 $ 315,010 During the quarter ending February 28, 2019 , no triggering events occurred that would indicate that it is more likely than not that the carrying values of any of our reporting units exceeded their fair values.

Term Loan and Line of Credit

Term Loan and Line of Credit	3 Months Ended
	Feb. 28, 2019
Line of Credit Facility [Abstract]
Term Loan and Line of Credit	Term Loan and Line of Credit Our credit agreement provides for a $123.8 million secured term loan and a $150.0 million secured revolving credit facility. The revolving credit facility may be made available in U.S. Dollars and certain other currencies and may be increased by up to an additional $125.0 million if the existing or additional lenders are willing to make such increased commitments. The revolving credit facility has sublimits for swing line loans up to $25.0 million and for the issuance of standby letters of credit in a face amount up to $25.0 million . We expect to use the revolving credit facility for general corporate purposes, including acquisitions of other businesses, and may also use it for working capital. The credit facility matures on November 20, 2022 , when all amounts outstanding will be due and payable in full. The revolving credit facility does not require amortization of principal. The outstanding balance of the term loan as of February 28, 2019 was $116.0 million , with $7.0 million due in the next 12 months. The term loan requires repayment of principal at the end of each fiscal quarter, beginning with the fiscal quarter ended February 28, 2018 . The principal repayment amounts are in accordance with the following schedule: (i) eight payments of $1.5 million each, (ii) four payments of $2.3 million each, (iii) four payments of $3.1 million each, (iv) three payments of $3.9 million each, and (v) the last payment is of the remaining principal amount. Any amounts outstanding under the term loan thereafter would be due on the maturity date. The term loan may be prepaid before maturity in whole or in part at our option without penalty or premium. As of February 28, 2019 , the carrying value of the term loan approximates the fair value, based on Level 2 inputs (observable market prices in less than active markets), as the interest rate is variable over the selected interest period and is similar to current rates at which we can borrow funds. The interest rate of the credit facility as of February 28, 2019 was 4.00% . Costs incurred to obtain our long-term debt of $1.8 million are recorded as debt issuance costs as a direct deduction from the carrying value of the debt liability on our condensed consolidated balance sheets as of February 28, 2019 . These costs are being amortized over the term of the debt agreement using the effective interest rate method. Amortization expense related to the debt issuance costs of $0.1 million for the three months ended February 28, 2019 and February 28, 2018 , respectively, is recorded in interest expense on our condensed consolidated statements of operations. Revolving loans may be borrowed, repaid, and reborrowed until November 20, 2022 , at which time all amounts outstanding must be repaid. As of February 28, 2019 , there were no amounts outstanding under the revolving line and $1.3 million of letters of credit. As of February 28, 2019 , aggregate principal payments of long-term debt for the next five years are (in thousands): Remainder of 2019 $ 4,641 2020 9,281 2021 12,375 2022 89,719 Total $ 116,016

Common Stock Repurchases

Common Stock Repurchases	3 Months Ended
	Feb. 28, 2019
Common Stock Repurchases [Abstract]
Common Stock Repurchases	Common Stock Repurchases We repurchased and retired 0.7 million shares of our common stock for $25.0 million in the three months ended February 28, 2019 and 1.1 million shares for $45.0 million in the three months ended February 28, 2018 . The shares were repurchased in both periods as part of our Board of Directors authorized share repurchase program. In September 2017, our Board of Directors increased our total share repurchase authorization to $250.0 million . As of February 28, 2019 , there was $75.0 million remaining under this current authorization.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Feb. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense reflects the fair value of stock-based awards, less the present value of expected dividends, measured at the grant date and recognized over the relevant service period. We estimate the fair value of each stock-based award on the measurement date using the current market price of the stock, the Black-Scholes option valuation model, or the Monte Carlo Simulation valuation model. During fiscal year 2017, we granted performance-based restricted stock units that include a three -year market condition under a Long-Term Incentive Plan (“LTIP”) where the performance measurement period is three -years. Vesting of the LTIP awards is based on our level of attainment of specified total stockholder return ("TSR") targets relative to the percentage appreciation of a specified index of companies for the respective three -year periods and is also subject to the continued employment of the grantees. In order to estimate the fair value of such awards, we used a Monte Carlo Simulation valuation model. During the first quarter of fiscal years 2018 and 2019, we granted performance-based restricted stock units that include two performance metrics under the LTIP where the performance measurement period is three years. Vesting of the 2018 and 2019 LTIP awards is as follows: (i) 50% is based on the three -year market condition as described above (TSR), and (ii) 50% is based on achievement of a three -year cumulative performance condition (operating income). In order to estimate the fair value of such awards, we used a Monte Carlo Simulation valuation model for the market condition portion of the award, and used the closing price of our common stock on the date of grant, less the present value of expected dividends, for the portion related to the performance condition. The Black-Scholes and Monte Carlo Simulation valuation models incorporate assumptions as to stock price volatility, the expected life of options or awards, a risk-free interest rate and dividend yield. We recognize stock-based compensation expense related to options and restricted stock units on a straight-line basis over the service period of the award, which is generally 4 years for options and 3 years for restricted stock units. We recognize stock-based compensation expense related to our employee stock purchase plan using an accelerated attribution method. The following table provides the classification of stock-based compensation as reflected in our condensed consolidated statements of operations (in thousands): Three Months Ended February 28, February 28, Cost of maintenance and services $ 244 $ 246 Sales and marketing 1,048 370 Product development 1,928 2,046 General and administrative 2,586 1,908 Total stock-based compensation $ 5,806 $ 4,570

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Feb. 28, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated balances of other comprehensive loss during the three months ended February 28, 2019 (in thousands): Foreign Currency Translation Adjustment Unrealized (Losses) Gains on Investments Accumulated Other Comprehensive (Loss) Income Balance, December 1, 2018, as adjusted $ (27,973 ) $ (203 ) $ (28,176 ) Other comprehensive income before reclassifications, net of tax 1,479 83 1,562 Balance, February 28, 2019 $ (26,494 ) $ (120 ) $ (26,614 ) The tax effect on accumulated unrealized (losses) gains on investments was minimal as of February 28, 2019 and November 30, 2018 .

Restructuring Charges

Restructuring Charges	3 Months Ended
	Feb. 28, 2019
Restructuring Charges [Abstract]
Restructuring Charges	Restructuring Charges The following table provides a summary of activity for our restructuring actions, which are detailed further below (in thousands): Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2018 $ 307 $ 4 $ 311 Costs incurred 411 4 415 Cash disbursements (151 ) (8 ) (159 ) Translation adjustments and other (84 ) — (84 ) Balance, February 28, 2019 $ 483 $ — $ 483 During fiscal year 2017, we undertook certain operational restructuring initiatives intended to significantly reduce annual costs. As part of this action, management committed to a new strategic plan highlighted by a new product strategy and a streamlined operating approach. To execute these operational restructuring initiatives, we reduced our global workforce by over 20% . These workforce reductions occurred in substantially all functional units and across all geographies in which we operate. We also consolidated offices in various locations during fiscal years 2017 and 2018 and the first quarter of fiscal year 2019. We expect to incur additional expenses related to facility closures as part of this restructuring action through fiscal year 2019, but we do not expect these additional costs to be material. Restructuring expenses are related to employee costs, including severance, health benefits and outplacement services (but excluding stock-based compensation), facilities costs, which include fees to terminate lease agreements and costs for unused space, net of sublease assumptions, and other costs, which include asset impairment charges. As part of this fiscal year 2017 restructuring, for the three months ended February 28, 2019 , we incurred expenses of $0.4 million , which are recorded in restructuring expenses on the condensed consolidated statements of operations. Cash disbursements for expenses incurred to date under this restructuring are expected to be made through fiscal year 2019. Accordingly, the balance of the restructuring reserve of $0.5 million is included in other accrued liabilities on the condensed consolidated balance sheet at February 28, 2019 .

Income Taxes

Income Taxes	3 Months Ended
	Feb. 28, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income tax provision for the three months ended February 28, 2019 and February 28, 2018 reflects our estimate of the effective tax rates expected to be applicable for the full fiscal years, adjusted for any discrete events which are recorded in the period they occur. The estimates are reevaluated each quarter based on our estimated tax expense for the full fiscal year. The increase in our effective tax rate in the three months ended February 28, 2019 compared to the same period in the prior year is primarily due to a provisional tax benefit amount of $1.4 million recorded in the three months ended February 28, 2018 related to the re-measurement of our U.S. deferred tax balances due to the enactment of tax reform in the U.S. that lowered the federal corporate tax rate. Certain international provisions of the Tax Cuts and Jobs Act became effective for us in fiscal year 2019. The global intangible low-taxed income ("GILTI") provisions require us to include in our U.S. income tax base foreign subsidiary earnings in excess of an allowable return of the foreign subsidiary's tangible assets. We have forecasted that we will be subject to incremental U.S. tax resulting from GILTI inclusions in fiscal year 2019. Our Federal income tax returns have been examined or are closed by statute for all years prior to fiscal year 2015. Our state income tax returns have been examined or are closed by statute for all years prior to fiscal year 2013. Tax authorities for certain non-U.S. jurisdictions are also examining returns. With some exceptions, we are generally not subject to tax examinations in non-U.S. jurisdictions for years prior to fiscal year 2013.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Feb. 28, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data): Three Months Ended February 28, February 28, As Adjusted (1) Net income $ 9,402 $ 13,732 Weighted average shares outstanding 44,956 46,529 Dilutive impact from common stock equivalents 330 947 Diluted weighted average shares outstanding 45,286 47,476 Basic earnings per share $ 0.21 $ 0.30 Diluted earnings per share $ 0.21 $ 0.29 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. We excluded stock awards representing approximately 911,000 shares and 344,000 shares of common stock from the calculation of diluted earnings per share in the three months ended February 28, 2019 and February 28, 2018 , respectively, because these awards were anti-dilutive.

Business Segments and Internati

Business Segments and International Operations	3 Months Ended
	Feb. 28, 2019
Segment Reporting [Abstract]
Business Segments and International Operations	Business Segments and International Operations Operating segments are components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and assess performance. Our chief operating decision maker is our Chief Executive Officer. We operate as three distinct business segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. We do not manage our assets or capital expenditures by segment or assign other income (expense) and income taxes to segments. We manage and report such items on a consolidated company basis. The following table provides revenue and contribution margin from our reportable segments and reconciles to the consolidated income from continuing operations before income taxes: Three Months Ended February 28, February 28, (In thousands) As Adjusted (1) Segment revenue: OpenEdge $ 65,252 $ 66,663 Data Connectivity and Integration 6,000 9,492 Application Development and Deployment 18,297 19,255 Total revenue 89,549 95,410 Segment costs of revenue and operating expenses: OpenEdge 18,315 15,762 Data Connectivity and Integration 1,500 1,629 Application Development and Deployment 5,427 6,798 Total costs of revenue and operating expenses 25,242 24,189 Segment contribution margin: OpenEdge 46,937 50,901 Data Connectivity and Integration 4,500 7,863 Application Development and Deployment 12,870 12,457 Total contribution margin 64,307 71,221 Other unallocated expenses (2) 48,898 52,090 Income from operations 15,409 19,131 Other expense, net (2,003 ) (1,585 ) Income before income taxes $ 13,406 $ 17,546 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. (2) The following expenses are not allocated to our segments as we manage and report our business in these functional areas on a consolidated basis only: certain product development and corporate sales and marketing expenses, customer support, administration, amortization of acquired intangibles, stock-based compensation, fees related to shareholder activist, restructuring, and acquisition-related expenses. Our revenues are derived from licensing our products, and from related services, which consist of maintenance, hosting services, and consulting and education. Information relating to revenue from external customers by revenue type is as follows (in thousands): Three Months Ended February 28, February 28, (In thousands) As Adjusted (1) Performance obligations transferred at a point in time: Software licenses $ 22,802 $ 26,054 Performance obligations transferred over time: Maintenance 59,999 62,184 Services 6,748 7,172 Total revenue $ 89,549 $ 95,410 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. In the following table, revenue attributed to North America includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from EMEA, Latin America and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows (in thousands): Three Months Ended February 28, February 28, (In thousands) As Adjusted (1) North America $ 46,498 52 % $ 52,198 55 % EMEA 33,372 37 % 33,296 35 % Latin America 4,461 5 % 4,942 5 % Asia Pacific 5,218 6 % 4,974 5 % Total revenue $ 89,549 100 % $ 95,410 100 % (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. No single customer, partner, or country outside of the U.S. has accounted for more than 10% of our total revenue for the three months ended February 28, 2019 and February 28, 2018 . As of February 28, 2019 and November 30, 2018 , no individual customer accounted for 10% or more of our net accounts receivable balance. As of February 28, 2019 and November 30, 2018 , no individual foreign country accounting for 10% or more of total consolidated assets.

Subsequent Events

Subsequent Events	3 Months Ended
	Feb. 28, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On March 28, 2019, we entered into an acquisition agreement with Ipswitch, Inc. (“Ipswitch”), pursuant to which we will acquire all of the outstanding equity interests of Ipswitch for $225 million in cash. We will fund the transaction with existing cash on hand and funds secured under a new credit facility. Ipswitch will provide us with leading network management and secure data file transfer capabilities for small and medium-sized businesses and enterprises. The transaction is expected to be completed in late April 2019, subject to customary regulatory approvals and conditions. Results of operations for Ipswitch will be included in our consolidated financial statements as part of the OpenEdge business segment from the date of acquisition. In connection with the announced acquisition of Ipswitch, we intend to suspend our stock repurchase program for the remainder of fiscal 2019.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Feb. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies - We prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements and these unaudited financial statements should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018 , ("Annual Report on Form 10-K for the fiscal year ended November 30, 2018 "). We adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASC 606") effective December 1, 2018 using the full retrospective method, which required us to retroactively adjust comparative prior periods to conform to current presentation. See " Recently Adopted Accounting Pronouncements " below for further information. We made no material changes in the application of our significant accounting policies that were disclosed in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018 , except as discussed below with respect to our adoption of ASC 606. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018 , and these financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full fiscal year.
Use of Estimates	Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an on-going basis, management evaluates its estimates and records changes in estimates in the period in which they become known. These estimates are based on historical data and experience, as well as various other assumptions that management believes to be reasonable under the circumstances. The most significant estimates relate to: the timing and amounts of revenue recognition, including the determination of the nature and timing of the satisfaction of performance obligations, the standalone selling price of performance obligations, and the transaction price allocated to performance obligations; the realization of tax assets and estimates of tax liabilities; fair values of investments in marketable securities; assets held for sale; intangible assets and goodwill valuations; the recognition and disclosure of contingent liabilities; the collectability of accounts receivable; and assumptions used to determine the fair value of stock-based compensation. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Revenue Policy We derive our revenue primarily from software licenses and maintenance and services. Our license arrangements generally contain multiple performance obligations, including software maintenance services. Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We recognize revenue through the application of the following steps: (i) identification of the contract(s) with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to performance obligations in the contract; and (v) recognition of revenue when or as we satisfy the performance obligations. Sales taxes collected from customers and remitted to government authorities are excluded from revenue and we do not license our software with a right of return. Software Licenses Software licenses are on-premise and fully functional when made available to the customer. As the customer can use and benefit from the license on its own, on-premise software licenses represent distinct performance obligations. Revenue is recognized upfront at the point in time when control is transferred, which is defined as the point in time when the client can use and benefit from the license. Our licenses are sold as perpetual or term licenses, and the arrangements typically contain various combinations of maintenance and services, which are generally accounted for as separate performance obligations. We use the residual approach to allocate the transaction price to our software license performance obligations because, due to the pricing of our licenses being highly variable, they do not have an observable stand-alone selling price ("SSP"). As required, we evaluate the residual approach estimate compared to all available observable data in order to conclude the estimate is representative of its SSP. Perpetual licenses are generally invoiced upon execution of the contract and payable within 30 days. Term licenses are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years. Any difference between the revenue recognized and the amount invoiced to the customer is recognized on our consolidated balance sheets as unbilled receivables until the customer is invoiced, at which point the amount is reclassed to accounts receivable. Maintenance Maintenance revenue is made up of technical support, bug fixes, and when-and-if available unspecified software upgrades. As these maintenance services are considered to be a series of distinct services that are substantially the same and have the same duration and measure of progress, we have concluded that they represent one combined performance obligation. Revenue is recognized ratably over the contract period. The SSP of maintenance services is a percentage of the net selling price of the related software license, which has remained within a tight range and is consistent with the stand-alone pricing of subsequent maintenance renewals. Maintenance services are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years. Services Services revenue primarily includes consulting and customer education services. In general, services are distinct performance obligations. Services revenue is generally recognized as the services are delivered to the customer. We apply the practical expedient of recognizing revenue upon invoicing for time and materials-based arrangements as the invoiced amount corresponds to the value of the services provided. The SSP of services is based upon observable prices in similar transactions using the hourly rates sold in stand-alone services transactions. Services are either sold on a time and materials basis or prepaid upfront. We also offer products via a software-as-a-service ("SaaS") model, which is a subscription-based model. Our customers can use hosted software over the contract period without taking possession of it and the cloud services are available to them throughout the entire term, even if they do not use the service. Revenue related to SaaS offerings is recognized ratably over the contract period. The SSP of SaaS performance obligations is determined based upon observable prices in stand-alone SaaS transactions. SaaS arrangements are generally invoiced in advance on a monthly, quarterly, or annual basis over the term of the arrangement, which is typically one to three years. Arrangements with Multiple Performance Obligations When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We allocate the transaction price to each performance obligation in a contract based on its relative SSP. Although we do not have a history of offering these elements, prior to allocating the transaction price to each performance obligation, we consider whether the arrangement has any discounts, material rights, or specified future upgrades that may represent additional performance obligations. Determining whether products and services are distinct performance obligations and the determination of the SSP may require significant judgment. Contract Balances Unbilled Receivables and Contract Assets The timing of revenue recognition may differ from the timing of customer invoicing. When revenue is recognized prior to invoicing and the right to the amount due from customers is conditioned only on the passage of time, we record an unbilled receivable on our condensed consolidated balance sheets. Our multi-year term license arrangements, which are typically billed annually, result in revenue recognition in advance of invoicing and the recognition of unbilled receivables. As of February 28, 2019 , invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2020 $ 1,048 2021 1,089 2022 444 Total $ 2,581 Contract assets, which arise when revenue is recognized prior to invoicing and the right to the amount due from customers is conditioned on something other than the passage of time, such as the completion of a related performance obligation, were minimal as of February 28, 2019 and November 30, 2018. These amounts are included in unbilled receivables or long-term unbilled receivables on our condensed consolidated balance sheets. Deferred Revenue Deferred revenue is recorded when revenue is recognized subsequent to customer invoicing. Our deferred revenue balance is primarily made up of deferred maintenance from our OpenEdge and Application Development and Deployment segments. As of February 28, 2019 , the changes in deferred revenue were as follows (in thousands): Balance, December 1, 2018 As Adjusted (1) $ 135,940 Billings and other 95,792 Revenue recognized (89,549 ) Balance, February 28, 2019 $ 142,183 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. Transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. As of February 28, 2019 , transaction price allocated to remaining performance obligations was $143 million . We expect to recognize approximately 92% of the revenue within the next year and the remainder thereafter. Deferred Contract Costs Deferred contract costs, which include certain sales incentive programs, are incremental and recoverable costs of obtaining a contract with a customer. Incremental costs of obtaining a contract with a customer are recognized as an asset if the expected benefit of those costs are longer than one year. We have applied the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include a large majority of our sales incentive programs as we have determined that annual compensation is commensurate with annual sales activities. Certain of our sales incentive programs do meet the requirements to be capitalized. Depending upon the sales incentive program and the related revenue arrangement, such capitalized costs are amortized over the longer of (i) the product life, which is generally three to five years; or (ii) the term of the related revenue contract. We determined that a three to five year product life represents the period of benefit that we receive from these incremental costs based on both qualitative and quantitative factors, which include customer contracts, industry norms, and product upgrades. Total deferred contract costs were minimal as of February 28, 2019 and November 30, 2018 and are included in other current assets and other assets on our condensed consolidated balance sheets. Amortization of deferred contract costs is included in sales and marketing expense on our condensed consolidated statement of operations and was minimal in all periods presented.
Recent Accounting Pronouncements	The adoption of ASC 606 had no impact on total cash from or used in operating, financing, or investing activities on our consolidated cash flow statements. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). ASU 2018-15 amends current guidance to align the accounting for costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs associated with developing or obtaining internal-use software. Capitalized implementation costs must be expensed over the term of the hosting arrangement and presented in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement. The guidance in ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, with early adoption permitted. We are currently accounting for costs incurred in a cloud computing arrangement in accordance with the guidance provided in ASU 2018-15. In August 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12"). ASU 2017-12 intends to better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The amendments expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance in ASU 2017-12 is required for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the effect that implementation of this update will have upon adoption on our consolidated financial position and results of operations. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 amends Topic 350 to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. This update requires the performance of an annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. However, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance in ASU 2017-04 is required for annual reporting periods beginning after December 15, 2019, with early adoption permitted. We are currently considering whether to adopt this update prior to the required adoption date. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) ("ASU 2016-02"), which requires lessees to record most leases on their balance sheets, recognizing a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The guidance in ASU 2016-02 is required for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We currently expect that most of our operating lease commitments will be subject to the update and recognized as operating lease liabilities and right-of-use assets upon adoption. However, we are currently evaluating the effect that implementation of this update will have upon adoption on our consolidated financial position and results of operations. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory ("ASU 2016-16"), which requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Under legacy GAAP, the recognition of current and deferred income taxes for an intra-entity transfer was prohibited until the asset has been sold to an outside party. We adopted this standard at the beginning of the first quarter of fiscal year 2019. Upon adoption, we reclassified approximately $3.4 million from non-current prepaid taxes, which is included in other assets on our consolidated balance sheet, to retained earnings as of December 1, 2018. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"). Under this standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. The standard also requires new disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and provides guidance on the recognition of costs related to obtaining customer contracts. We adopted this ASU effective December 1, 2018 in accordance with the full retrospective approach, which required us to retrospectively adjust certain previously reported results in the comparative prior periods presented. Upon adoption, we recorded a cumulative $31 million increase to our 2017 beginning retained earnings balance, a $15 million decrease to deferred revenue, a $28 million increase to unbilled receivables, and a $12 million increase to deferred tax liabilities. The revenue recognition related to accounting for the following transactions is most impacted by our adoption of this standard: • Revenue from term licenses with extended payment terms over the term of the agreement within our Data Connectivity and Integration segment - Under the applicable revenue recognition guidance for fiscal years 2018 and prior, these transactions were recognized when the amounts were billed to the customer. In accordance with ASC 606, revenue from term license performance obligations is recognized upon delivery and revenue from maintenance performance obligations is expected to be recognized over the contract term. To the extent that we enter into these transactions, revenue from term licenses with extended payment terms will be recognized prior to the customer being billed and we will recognize an unbilled receivable on the balance sheet. Accordingly, the recognition of license revenue is accelerated under ASC 606 as we historically did not recognize revenue until the amounts had been billed to the customer. • Revenue from transactions with multiple elements within our Application Development and Deployment segment (i.e., sales of perpetual licenses with maintenance and/or support) - Under the applicable revenue recognition guidance for fiscal years 2018 and prior, these transactions were recognized ratably over the associated maintenance period as the Company did not have vendor specific objective evidence ("VSOE") for maintenance or support. Under ASC 606, the requirement to have VSOE for undelivered elements that existed under prior guidance is eliminated. Accordingly, the Company will recognize a portion of the sales price as revenue upon delivery of the license instead of recognizing the entire sales price ratably over the maintenance period.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Feb. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Long Term Unbilled Receivables	As of February 28, 2019 , invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2020 $ 1,048 2021 1,089 2022 444 Total $ 2,581 As of February 28, 2019 , the changes in deferred revenue were as follows (in thousands): Balance, December 1, 2018 As Adjusted (1) $ 135,940 Billings and other 95,792 Revenue recognized (89,549 ) Balance, February 28, 2019 $ 142,183 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The impact of the adoption of this standard on our previously reported consolidated balance sheets and consolidated statements of operations is as follows: Consolidated Balance Sheets November 30, 2018 (in thousands) As Reported Adjustments As Adjusted Assets Accounts receivable, net $ 58,450 $ 1,265 $ 59,715 Short-term unbilled receivables — 1,421 1,421 Long-term unbilled receivables — 1,811 1,811 Deferred tax assets 1,922 (956 ) 966 Other assets (1) 580,237 — 580,237 Total assets $ 640,609 $ 3,541 $ 644,150 Liabilities and shareholders’ equity Short-term deferred revenue 133,194 (9,984 ) 123,210 Long-term deferred revenue 15,127 (2,397 ) 12,730 Deferred tax liabilities 3,797 2,002 5,799 Other liabilities (2) 178,409 — 178,409 Retained earnings 71,242 13,883 85,125 Accumulated other comprehensive loss (28,213 ) 37 (28,176 ) Other equity (3) 267,053 — 267,053 Total liabilities and shareholders’ equity $ 640,609 $ 3,541 $ 644,150 (1) Includes cash and cash equivalents, short-term investments, other current assets, assets held for sale, property and equipment, net, intangible assets, net, goodwill, and other assets. (2) Includes current portion of long-term debt, net, accounts payable, accrued compensation and related taxes, dividends payable, income taxes payable, other accrued liabilities, long-term debt, net, and other noncurrent liabilities. (3) Includes common stock and additional paid-in capital. Consolidated Statements of Income February 28, 2018 (in thousands) As Reported Adjustments As Adjusted Revenue: Software licenses $ 25,343 $ 711 $ 26,054 Maintenance and services 68,704 652 69,356 Total revenue 94,047 1,363 95,410 Costs of revenue 16,903 — 16,903 Gross Profit 77,144 1,363 78,507 Operating expenses 59,376 — 59,376 Income from operations 17,768 1,363 19,131 Other expense, net (1,585 ) — (1,585 ) Income before income taxes 16,183 1,363 17,546 Provision for income taxes 3,271 543 3,814 Net income $ 12,912 $ 820 $ 13,732 Earnings per share: Basic $ 0.28 $ 0.02 $ 0.30 Diluted $ 0.27 $ 0.02 $ 0.29 Weighted average shares outstanding: Basic 46,529 — 46,529 Diluted 47,476 — 47,476

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments (Tables)	3 Months Ended
	Feb. 28, 2019
Investments and Cash [Abstract]
Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments	A summary of our cash, cash equivalents and available-for-sale investments at February 28, 2019 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 94,904 $ — $ — $ 94,904 Money market funds 11,612 — — 11,612 State and municipal bond obligations 14,406 — (58 ) 14,348 U.S. treasury bonds 4,387 — (8 ) 4,379 Corporate bonds 8,246 — (31 ) 8,215 Total $ 133,555 $ — $ (97 ) $ 133,458 A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2018 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 101,316 $ — $ — $ 101,316 Money market funds 3,810 — — 3,810 State and municipal bond obligations 19,542 — (119 ) 19,423 U.S. treasury bonds 6,726 — (21 ) 6,705 Corporate bonds 8,329 — (70 ) 8,259 Total $ 139,723 $ — $ (210 ) $ 139,513
Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments by Balance Sheet Classification	Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands): February 28, 2019 November 30, 2018 Cash and Equivalents Short-Term Investments Cash and Equivalents Short-Term Investments Cash $ 94,904 $ — $ 101,316 $ — Money market funds 11,612 — 3,810 — State and municipal bond obligations — 14,348 — 19,423 U.S. treasury bonds — 4,379 — 6,705 Corporate bonds — 8,215 — 8,259 Total $ 106,516 $ 26,942 $ 105,126 $ 34,387
Fair Value of Debt Securities by Contractual Maturity	The fair value of debt securities by contractual maturity is as follows (in thousands): February 28, November 30, Due in one year or less $ 22,327 $ 25,051 Due after one year (1) 4,615 9,336 Total $ 26,942 $ 34,387 (1) Includes state and municipal bond obligations and corporate bonds, which are securities representing investments available for current operations and are classified as current on the condensed consolidated balance sheets.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Feb. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding Foreign Currency Forward Contracts	The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands): February 28, 2019 November 30, 2018 Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 63,904 $ 324 $ 105,830 $ (170 ) Forward contracts to purchase U.S. dollars 495 (2 ) 240 — Total $ 64,399 $ 322 $ 106,070 $ (170 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Feb. 28, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements, Financial Assets and Liabilities	The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2019 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 11,612 $ 11,612 $ — $ — State and municipal bond obligations 14,348 — 14,348 — U.S. treasury bonds 4,379 — 4,379 — Corporate bonds 8,215 — 8,215 — Foreign exchange derivatives $ 322 $ — $ 322 $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2018 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 3,810 $ 3,810 $ — $ — State and municipal bond obligations 19,423 — 19,423 — U.S. treasury bonds 6,705 — 6,705 — Corporate bonds 8,259 — 8,259 — Liabilities Foreign exchange derivatives $ (170 ) $ — $ (170 ) $ —
Fair Value Measurements, Nonrecurring	The following table presents nonrecurring fair value measurements as of November 30, 2018 (in thousands): Total Fair Value Total Losses Assets held for sale $ 5,776 $ 5,147

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Feb. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are comprised of the following significant classes (in thousands): February 28, 2019 November 30, 2018 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 146,501 $ (108,599 ) $ 37,902 $ 154,301 $ (110,959 ) $ 43,342 Customer-related 67,642 (58,901 ) 8,741 67,802 (56,589 ) 11,213 Trademarks and trade names 17,740 (14,086 ) 3,654 17,740 (13,376 ) 4,364 Total $ 231,883 $ (181,586 ) $ 50,297 $ 239,843 $ (180,924 ) $ 58,919
Schedule of Future Amortization Expense from Intangible Assets Held	Future amortization expense for intangible assets as of February 28, 2019 is as follows (in thousands): Remainder of 2019 $ 26,310 2020 10,152 2021 10,033 2022 3,802 Total $ 50,297
Schedule of Goodwill	Changes in the goodwill balances by reportable segment in the three months ended February 28, 2019 are as follows (in thousands): November 30, 2018 Translation adjustments February 28, 2019 OpenEdge $ 248,987 $ 18 $ 249,005 Data Connectivity and Integration 19,040 — 19,040 Application Development and Deployment 46,965 — 46,965 Total goodwill $ 314,992 $ 18 $ 315,010 Changes in the carrying amount of goodwill in the three months ended February 28, 2019 are as follows (in thousands): Balance, November 30, 2018 $ 314,992 Translation adjustments 18 Balance, February 28, 2019 $ 315,010

Term Loan and Line of Credit (T

Term Loan and Line of Credit (Tables)	3 Months Ended
	Feb. 28, 2019
Line of Credit Facility [Abstract]
Schedule of Maturities of Long-term Debt	As of February 28, 2019 , aggregate principal payments of long-term debt for the next five years are (in thousands): Remainder of 2019 $ 4,641 2020 9,281 2021 12,375 2022 89,719 Total $ 116,016

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Feb. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Classification of Stock-Based Compensation	The following table provides the classification of stock-based compensation as reflected in our condensed consolidated statements of operations (in thousands): Three Months Ended February 28, February 28, Cost of maintenance and services $ 244 $ 246 Sales and marketing 1,048 370 Product development 1,928 2,046 General and administrative 2,586 1,908 Total stock-based compensation $ 5,806 $ 4,570

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Feb. 28, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated balances of other comprehensive loss during the three months ended February 28, 2019 (in thousands): Foreign Currency Translation Adjustment Unrealized (Losses) Gains on Investments Accumulated Other Comprehensive (Loss) Income Balance, December 1, 2018, as adjusted $ (27,973 ) $ (203 ) $ (28,176 ) Other comprehensive income before reclassifications, net of tax 1,479 83 1,562 Balance, February 28, 2019 $ (26,494 ) $ (120 ) $ (26,614 )

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Feb. 28, 2019
Restructuring Charges [Abstract]
Summary of Restructuring Activity	The following table provides a summary of activity for our restructuring actions, which are detailed further below (in thousands): Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2018 $ 307 $ 4 $ 311 Costs incurred 411 4 415 Cash disbursements (151 ) (8 ) (159 ) Translation adjustments and other (84 ) — (84 ) Balance, February 28, 2019 $ 483 $ — $ 483

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Feb. 28, 2019
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data): Three Months Ended February 28, February 28, As Adjusted (1) Net income $ 9,402 $ 13,732 Weighted average shares outstanding 44,956 46,529 Dilutive impact from common stock equivalents 330 947 Diluted weighted average shares outstanding 45,286 47,476 Basic earnings per share $ 0.21 $ 0.30 Diluted earnings per share $ 0.21 $ 0.29 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Business Segments and Interna_2

Business Segments and International Operations (Tables)	3 Months Ended
	Feb. 28, 2019
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table provides revenue and contribution margin from our reportable segments and reconciles to the consolidated income from continuing operations before income taxes: Three Months Ended February 28, February 28, (In thousands) As Adjusted (1) Segment revenue: OpenEdge $ 65,252 $ 66,663 Data Connectivity and Integration 6,000 9,492 Application Development and Deployment 18,297 19,255 Total revenue 89,549 95,410 Segment costs of revenue and operating expenses: OpenEdge 18,315 15,762 Data Connectivity and Integration 1,500 1,629 Application Development and Deployment 5,427 6,798 Total costs of revenue and operating expenses 25,242 24,189 Segment contribution margin: OpenEdge 46,937 50,901 Data Connectivity and Integration 4,500 7,863 Application Development and Deployment 12,870 12,457 Total contribution margin 64,307 71,221 Other unallocated expenses (2) 48,898 52,090 Income from operations 15,409 19,131 Other expense, net (2,003 ) (1,585 ) Income before income taxes $ 13,406 $ 17,546 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. (2) The following expenses are not allocated to our segments as we manage and report our business in these functional areas on a consolidated basis only: certain product development and corporate sales and marketing expenses, customer support, administration, amortization of acquired intangibles, stock-based compensation, fees related to shareholder activist, restructuring, and acquisition-related expenses.
Revenue from External Customers by Products and Services	Our revenues are derived from licensing our products, and from related services, which consist of maintenance, hosting services, and consulting and education. Information relating to revenue from external customers by revenue type is as follows (in thousands): Three Months Ended February 28, February 28, (In thousands) As Adjusted (1) Performance obligations transferred at a point in time: Software licenses $ 22,802 $ 26,054 Performance obligations transferred over time: Maintenance 59,999 62,184 Services 6,748 7,172 Total revenue $ 89,549 $ 95,410 (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
Revenue from External Customers from Different Geographical Areas	In the following table, revenue attributed to North America includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from EMEA, Latin America and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows (in thousands): Three Months Ended February 28, February 28, (In thousands) As Adjusted (1) North America $ 46,498 52 % $ 52,198 55 % EMEA 33,372 37 % 33,296 35 % Latin America 4,461 5 % 4,942 5 % Asia Pacific 5,218 6 % 4,974 5 % Total revenue $ 89,549 100 % $ 95,410 100 % (1) The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) enterprise_customer in Thousands, $ in Thousands, developer in Millions	3 Months Ended
	Feb. 28, 2019USD ($)enterprise_customerdevelopersoftware_vendor	Dec. 01, 2018USD ($)	Nov. 30, 2018USD ($)		Nov. 30, 2016USD ($)
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Number of independent software vendors | software_vendor	1,700
Number of enterprise customers | enterprise_customer	100
Number of developers | developer	2
Remaining performance obligation	$ 143,000
Reclassification from non-current prepaid taxes included in other assets	(2,079)		$ (5,243)	[1]
Retained earnings	60,462		85,125	[1]
Decrease in deferred revenue	(142,183)		(135,940)
Increase to accumulated other comprehensive loss	$ 26,614		$ 28,176	[1]
Accounting Standards Update 2016-16
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Reclassification from non-current prepaid taxes included in other assets		$ 3,400
Accounting Standards Update 2014-09
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Retained earnings					$ 31,000
Decrease in deferred revenue					15,000
Increase in unbilled receivables					28,000
Increase to accumulated other comprehensive loss					$ 12,000
Minimum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Capitalized contract cost, amortization period	3 years
Maximum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Capitalized contract cost, amortization period	5 years
Maintenance | Minimum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Maintenance | Maximum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	3 years
Software licenses
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Period of payments of licenses upon execution of contract	30 days
Software licenses | Minimum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Software licenses | Maximum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	3 years
Services | Minimum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Services | Maximum
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	3 years
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Basis of Presentation - Perform

Basis of Presentation - Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-03-01	Feb. 28, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation, percentage	92.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Long Term Unbilled Receivables (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018	[1]
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2020	$ 1,048
2021	1,089
2022	444
Total	$ 2,581	$ 1,811
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Basis of Presentation - Sched_2

Basis of Presentation - Schedule of Deferred Revenue (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2019USD ($)
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 135,940
Billings and other	95,792
Revenue recognized	(89,549)
Ending balance	$ 142,183

Basis of Presentation - Consoli

Basis of Presentation - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018		Nov. 30, 2016
Assets
Accounts receivable, net	$ 54,572	$ 59,715	[1]
Unbilled receivables	2,121	1,421	[1]
Long-term unbilled receivables	2,581	1,811	[1]
Deferred tax assets	889	966	[1]
Other assets		580,237
Total assets	615,891	644,150	[1]
Liabilities and shareholders’ equity
Short-term deferred revenue	130,569	123,210	[1]
Long-term deferred revenue	11,614	12,730	[1]
Deferred tax liabilities	2,665	5,799	[1]
Other liabilities		178,409
Retained earnings	60,462	85,125	[1]
Accumulated other comprehensive loss	(26,614)	(28,176)	[1]
Other equity		267,053
Total liabilities and shareholders’ equity	$ 615,891	644,150	[1]
As Adjusted
Assets
Accounts receivable, net		58,450
Unbilled receivables		0
Long-term unbilled receivables		0
Deferred tax assets		1,922
Other assets		580,237
Total assets		640,609
Liabilities and shareholders’ equity
Short-term deferred revenue		133,194
Long-term deferred revenue		15,127
Deferred tax liabilities		3,797
Other liabilities		178,409
Retained earnings		71,242
Accumulated other comprehensive loss		(28,213)
Other equity		267,053
Total liabilities and shareholders’ equity		640,609
Accounting Standards Update 2014-09
Liabilities and shareholders’ equity
Retained earnings				$ 31,000
Accumulated other comprehensive loss				$ (12,000)
Accounting Standards Update 2014-09 | Adjustments
Assets
Accounts receivable, net		1,265
Unbilled receivables		1,421
Long-term unbilled receivables		1,811
Deferred tax assets		(956)
Other assets		0
Total assets		3,541
Liabilities and shareholders’ equity
Short-term deferred revenue		(9,984)
Long-term deferred revenue		(2,397)
Deferred tax liabilities		2,002
Other liabilities		0
Retained earnings		13,883
Accumulated other comprehensive loss		37
Other equity		0
Total liabilities and shareholders’ equity		$ 3,541
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Basis of Presentation - Conso_2

Basis of Presentation - Consolidated Income Statement (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Revenue:
Total revenue	$ 89,549	$ 95,410	[1]
Costs of revenue	16,039	16,903	[1]
Gross Profit	73,510	78,507	[1]
Total operating expenses	58,101	59,376	[1]
Income from operations	15,409	19,131	[1]
Other expense, net	(2,003)	(1,585)	[1]
Income before income taxes	13,406	17,546	[1]
Provision for income taxes	4,004	3,814	[1]
Net income	$ 9,402	$ 13,732	[1]
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 0.21	$ 0.30	[1]
Diluted (in dollars per share)	$ 0.21	$ 0.29	[1]
Weighted average shares outstanding:
Basic (in shares)	44,956	46,529	[1]
Diluted (in shares)	45,286	47,476	[1]
Software licenses
Revenue:
Total revenue	$ 22,802	$ 26,054	[1]
Costs of revenue	1,167	1,261	[1]
Maintenance and services
Revenue:
Total revenue	66,747	69,356	[1]
Costs of revenue	$ 9,439	9,824	[1]
As Adjusted
Revenue:
Total revenue		94,047
Costs of revenue		16,903
Gross Profit		77,144
Total operating expenses		59,376
Income from operations		17,768
Other expense, net		(1,585)
Income before income taxes		16,183
Provision for income taxes		3,271
Net income		$ 12,912
Earnings Per Share [Abstract]
Basic (in dollars per share)		$ 0.28
Diluted (in dollars per share)		$ 0.27
Weighted average shares outstanding:
Basic (in shares)		46,529
Diluted (in shares)		47,476
As Adjusted | Software licenses
Revenue:
Total revenue		$ 25,343
As Adjusted | Maintenance and services
Revenue:
Total revenue		68,704
Accounting Standards Update 2014-09 | Adjustments
Revenue:
Total revenue		1,363
Costs of revenue		0
Gross Profit		1,363
Total operating expenses		0
Income from operations		1,363
Other expense, net		0
Income before income taxes		1,363
Provision for income taxes		543
Net income		$ 820
Earnings Per Share [Abstract]
Basic (in dollars per share)		$ 0.02
Diluted (in dollars per share)		$ 0.02
Weighted average shares outstanding:
Basic (in shares)		0
Diluted (in shares)		0
Accounting Standards Update 2014-09 | Adjustments | Software licenses
Revenue:
Total revenue		$ 711
Accounting Standards Update 2014-09 | Adjustments | Maintenance and services
Revenue:
Total revenue		$ 652
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments (Summary Of Cash, Cash Equivalents And Trading And Available-For-Sale Investments) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018		Feb. 28, 2017	[2]	Nov. 30, 2016	[2]
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 106,516	$ 105,126	[1]	$ 117,111		$ 133,464
Unrealized Gains	0	0
Unrealized Losses	(97)	(210)
Total Amortized Cost Basis	133,555	139,723
Total Fair Value	133,458	139,513
State and municipal bond obligations
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	14,406	19,542
Unrealized Gains	0	0
Unrealized Losses	(58)	(119)
Fair Value	14,348	19,423
U.S. treasury bonds
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	4,387	6,726
Unrealized Gains	0	0
Unrealized Losses	(8)	(21)
Fair Value	4,379	6,705
Corporate bonds
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	8,246	8,329
Unrealized Gains	0	0
Unrealized Losses	(31)	(70)
Fair Value	8,215	8,259
Cash
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	94,904	101,316
Money market funds
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 11,612	$ 3,810
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Cash, Cash Equivalents and In_4

Cash, Cash Equivalents and Investments (Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments by Balance Sheet Classification) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018		Feb. 28, 2017	[2]	Nov. 30, 2016	[2]
Cash, Cash Equivalents and Investments [Line Items]
Cash and Equivalents	$ 106,516	$ 105,126	[1]	$ 117,111		$ 133,464
Short-Term Investments	26,942	34,387	[1]
State and municipal bond obligations
Cash, Cash Equivalents and Investments [Line Items]
Short-Term Investments	14,348	19,423
U.S. treasury bonds
Cash, Cash Equivalents and Investments [Line Items]
Short-Term Investments	4,379	6,705
Corporate bonds
Cash, Cash Equivalents and Investments [Line Items]
Short-Term Investments	8,215	8,259
Cash
Cash, Cash Equivalents and Investments [Line Items]
Cash and Equivalents	94,904	101,316
Money market funds
Cash, Cash Equivalents and Investments [Line Items]
Cash and Equivalents	$ 11,612	$ 3,810
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Cash, Cash Equivalents and In_5

Cash, Cash Equivalents and Investments (Fair Value of Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018
Investments and Cash [Abstract]
Due in one year or less	$ 22,327	$ 25,051
Due after one year	4,615	9,336
Total	$ 26,942	$ 34,387

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	Nov. 30, 2018
Forward Contracts
Derivative [Line Items]
Minimum maturity period, foreign currency derivative	30 days
Maximum maturity period, foreign currency derivative	1 year
Realized and unrealized gains from forward contracts	$ 0.7	$ 3.6
Other Current Assets
Derivative [Line Items]
Derivative liabilities	$ 0.3		$ 0.1
Other Noncurrent Liabilities
Derivative [Line Items]
Derivative liabilities			$ 0.3

Derivative Instruments (Outstan

Derivative Instruments (Outstanding Foreign Currency Forward Contracts) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018
Derivative [Line Items]
Notional Value	$ 64,399	$ 106,070
Fair Value	322	(170)
Forward contracts to sell U.S. dollars
Derivative [Line Items]
Notional Value	63,904	105,830
Fair Value	324	(170)
Forward contracts to purchase U.S. dollars
Derivative [Line Items]
Notional Value	495	240
Fair Value	$ (2)	$ 0

Fair Value Measurements (Hierar

Fair Value Measurements (Hierarchy of Financial Assets) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018
Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	$ 11,612	$ 3,810
Money market funds | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	11,612	3,810
Money market funds | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Money market funds | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
State and municipal bond obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	14,348	19,423
State and municipal bond obligations | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
State and municipal bond obligations | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	14,348	19,423
State and municipal bond obligations | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
U.S. treasury bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	4,379	6,705
U.S. treasury bonds | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
U.S. treasury bonds | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	4,379	6,705
U.S. treasury bonds | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Corporate bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	8,215	8,259
Corporate bonds | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Corporate bonds | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	8,215	8,259
Corporate bonds | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Foreign exchange derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	322	(170)
Foreign exchange derivatives | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	0	0
Foreign exchange derivatives | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	322	(170)
Foreign exchange derivatives | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	3 Months Ended
	Nov. 30, 2018USD ($)
Fair Value Disclosures [Abstract]
Asset impairment charge	$ 5.1

Fair Value Measurements (Assets

Fair Value Measurements (Assets Held For Sale) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2018USD ($)	Nov. 30, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Losses	$ 5,100
Discontinued Operations, Held-for-sale | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Fair Value	$ 5,776	$ 5,776
Total Losses		$ 5,147

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Schedule Of Intangible Assets) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 231,883	$ 239,843
Accumulated Amortization	(181,586)	(180,924)
Net Book Value	50,297	58,919	[1]
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	146,501	154,301
Accumulated Amortization	(108,599)	(110,959)
Net Book Value	37,902	43,342
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	67,642	67,802
Accumulated Amortization	(58,901)	(56,589)
Net Book Value	8,741	11,213
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,740	17,740
Accumulated Amortization	(14,086)	(13,376)
Net Book Value	$ 3,654	$ 4,364
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, amortization expense	$ 8.6	$ 9.1

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Schedule Of Future Amortization Expense From Intangible Assets Held) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Nov. 30, 2018	[1]
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 26,310
2020	10,152
2021	10,033
2022	3,802
Net Book Value	$ 50,297	$ 58,919
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Schedule of Goodwill) (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2019USD ($)
Goodwill [Roll Forward]
Balance, November 30, 2018	$ 314,992	[1]
Translation adjustments	18
Balance, February 28, 2019	315,010
OpenEdge
Goodwill [Roll Forward]
Balance, November 30, 2018	248,987
Translation adjustments	18
Balance, February 28, 2019	249,005
Data Connectivity and Integration
Goodwill [Roll Forward]
Balance, November 30, 2018	19,040
Translation adjustments	0
Balance, February 28, 2019	19,040
Application Development and Deployment
Goodwill [Roll Forward]
Balance, November 30, 2018	46,965
Translation adjustments	0
Balance, February 28, 2019	$ 46,965
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Term Loan and Line of Credit (N

Term Loan and Line of Credit (Narrative) (Details)	3 Months Ended
	Feb. 28, 2019USD ($)
Credit Agreement
Line of Credit Facility [Line Items]
Principal repayments per eight payment schedules	$ 1,500,000
Principal repayments per four payment schedules, option one	2,300,000
Principal repayments per four payment schedules, option two	3,100,000
Principal repayments per three payment schedules	$ 3,900,000
Interest rate during period	4.00%
Debt issuance cost	$ 1,800,000
Amortization of debt issuance costs	100,000
Credit Agreement | Revolving line of credit
Line of Credit Facility [Line Items]
Term loan	123,750,000
Unsecured credit facility	150,000,000
Additional borrowing capacity available	125,000,000
Line of credit facility outstanding amount	0
Credit Agreement | Swing line loans
Line of Credit Facility [Line Items]
Term loan	25,000,000
Credit Agreement | Letter of credit
Line of Credit Facility [Line Items]
Term loan	25,000,000
Line of credit facility outstanding amount	1,300,000
Credit Agreement Maturing November 2022 | Revolving line of credit
Line of Credit Facility [Line Items]
Line of credit facility outstanding amount	116,000,000
Line of credit, current	$ 7,000,000

Term Loan and Line of Credit (F

Term Loan and Line of Credit (Future Maturities) (Details) $ in Thousands	Feb. 28, 2019USD ($)
Line of Credit Facility [Abstract]
Remainder of 2019	$ 4,641
2020	9,281
2021	12,375
2022	89,719
Total	$ 116,016

Common Stock Repurchases (Detai

Common Stock Repurchases (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	Sep. 30, 2017
Common Stock Repurchases [Abstract]
Common stock repurchased and retired (in shares)	0.7	1.1
Common stock repurchased and retired	$ 25,000	$ 45,000
Authorized amount for share repurchase programs			$ 250,000
Remaining authorized repurchase amount	$ 75,000

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - metric	3 Months Ended		12 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	Nov. 30, 2017	Nov. 30, 2016
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	3 years	3 years	3 years	3 years
Number of performance metrics	2	2
Percentage of shares based on market condition of total shareholder return	50.00%	50.00%
Award market condition period	3 years	3 years
Percentage of shares based on cumulative performance condition	50.00%	50.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	4 years

Stock-Based Compensation (Class

Stock-Based Compensation (Classification of Stock-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 5,806	$ 4,570
Cost of maintenance and services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	244	246
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,048	370
Product development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,928	2,046
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,586	$ 1,908

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2019USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 324,002	[1],[2]
Other comprehensive income before reclassifications, net of tax	1,562
Ending balance	306,702
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(28,176)	[2]
Ending balance	(26,614)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(27,973)
Other comprehensive income before reclassifications, net of tax	1,479
Ending balance	(26,494)
Unrealized (Losses) Gains on Investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(203)
Other comprehensive income before reclassifications, net of tax	83
Ending balance	$ (120)
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Restructuring Charges (Summary

Restructuring Charges (Summary of Restructuring Activity) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	[1]
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 311
Costs incurred	415	$ 1,821
Cash disbursements	(159)
Translation adjustments and other	(84)
Excess Facilities and Other Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	307
Costs incurred	411
Cash disbursements	(151)
Translation adjustments and other	(84)
Ending Balance	483
Employee Severance and Related Benefits
Restructuring Reserve [Roll Forward]
Beginning Balance	4
Costs incurred	4
Cash disbursements	(8)
Translation adjustments and other	0
Ending Balance	$ 0
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	[1]	Nov. 30, 2017	Nov. 30, 2018
Restructuring Cost and Reserve [Line Items]
Global workforce reduction (as a percent)				20.00%
Restructuring expenses	$ 415	$ 1,821
Restructuring reserve					$ 311
Other Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 483
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended
	Feb. 28, 2019USD ($)
Income Tax Disclosure [Abstract]
Provisional income tax benefit	$ 1.4

Earnings Per Share (Calculation

Earnings Per Share (Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Earnings Per Share [Abstract]
Net income	$ 9,402	$ 13,732	[1]
Weighted average shares outstanding (in shares)	44,956	46,529	[1]
Dilutive impact from common stock equivalents (in shares)	330	947
Diluted weighted average shares outstanding (in shares)	45,286	47,476	[1]
Basic earnings per share (in dollars per share)	$ 0.21	$ 0.30	[1]
Diluted earnings per share (in dollars per share)	$ 0.21	$ 0.29	[1]
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Earnings Per Share [Abstract]
Number of shares excluded from the calculation of diluted earnings per share (in shares)	911	344

Business Segments and Interna_3

Business Segments and International Operations (Narrative) (Details)	3 Months Ended
	Feb. 28, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segments and Interna_4

Business Segments and International Operations (Income from Continuing Operations by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	$ 89,549	$ 95,410	[1]
Total costs of revenue and operating expenses	25,242	24,189
Total contribution margin	64,307	71,221
Other unallocated expenses	48,898	52,090
Income from operations	15,409	19,131	[1]
Other expense, net	(2,003)	(1,585)	[1]
Income before income taxes	13,406	17,546	[1]
OpenEdge
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	65,252	66,663
Total costs of revenue and operating expenses	18,315	15,762
Total contribution margin	46,937	50,901
Data Connectivity and Integration
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	6,000	9,492
Total costs of revenue and operating expenses	1,500	1,629
Total contribution margin	4,500	7,863
Application Development and Deployment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	18,297	19,255
Total costs of revenue and operating expenses	5,427	6,798
Total contribution margin	$ 12,870	$ 12,457
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Business Segments and Interna_5

Business Segments and International Operations (Revenue from External Customers by Product) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 89,549	$ 95,410	[1]
Software licenses
Segment Reporting Information [Line Items]
Total revenue	22,802	26,054	[1]
Transferred at Point in Time | Software licenses
Segment Reporting Information [Line Items]
Total revenue	22,802	26,054
Transferred over Time | Maintenance
Segment Reporting Information [Line Items]
Total revenue	59,999	62,184
Transferred over Time | Services
Segment Reporting Information [Line Items]
Total revenue	$ 6,748	$ 7,172
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Business Segments and Interna_6

Business Segments and International Operations (Revenue from External Customers from Different Geographical Areas) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018
Revenue from External Customer [Line Items]
Total revenue	$ 89,549	$ 95,410	[1]
North America
Revenue from External Customer [Line Items]
Total revenue	46,498	52,198
EMEA
Revenue from External Customer [Line Items]
Total revenue	33,372	33,296
Latin America
Revenue from External Customer [Line Items]
Total revenue	4,461	4,942
Asia Pacific
Revenue from External Customer [Line Items]
Total revenue	$ 5,218	$ 4,974
Geographic Concentration Risk | Revenue from Contract with Customer
Revenue from External Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%
Geographic Concentration Risk | Revenue from Contract with Customer | North America
Revenue from External Customer [Line Items]
Concentration risk, percentage	52.00%	55.00%
Geographic Concentration Risk | Revenue from Contract with Customer | EMEA
Revenue from External Customer [Line Items]
Concentration risk, percentage	37.00%	35.00%
Geographic Concentration Risk | Revenue from Contract with Customer | Latin America
Revenue from External Customer [Line Items]
Concentration risk, percentage	5.00%	5.00%
Geographic Concentration Risk | Revenue from Contract with Customer | Asia Pacific
Revenue from External Customer [Line Items]
Concentration risk, percentage	6.00%	5.00%
[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Mar. 28, 2019USD ($)
Ipswitch | Subsequent Event
Subsequent Event [Line Items]
Cash payment in business acquisition	$ 225

Uncategorized Items - prgs-2019

Label	Element	Value
Accounting Standards Update 2016-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(641,000)
Accounting Standards Update 2016-09 [Member] | Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	641,000
Accounting Standards Update 2016-16 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,397,000)
Accounting Standards Update 2016-16 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (3,397,000)