Progress Software (PRGS) 10-Q 7 Oct 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Aug. 31, 2021	Sep. 23, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2021
Document Transition Report	false
Entity File Number	0-19417
Entity Registrant Name	PROGRESS SOFTWARE CORP /MA
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2746201
Entity Address, Address Line One	14 Oak Park
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	280-4000
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	PRGS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		43,842,539
Entity Central Index Key	0000876167
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--11-30

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Current assets:
Cash and cash equivalents	$ 379,895	$ 97,990
Short-term investments	3,782	8,005
Total cash, cash equivalents and short-term investments	383,677	105,995
Accounts receivable (less allowances of $578 and $1,315, respectively)	77,031	84,040
Unbilled receivables and contract assets	28,479	24,917
Other current assets	19,710	23,983
Total current assets	508,897	238,935
Long-term unbilled receivables and contract assets	22,225	17,133
Property and equipment, net	28,724	29,817
Intangible assets, net	179,190	212,747
Goodwill	491,412	491,726
Deferred tax assets	10,872	14,490
Right-of-use lease assets	28,286	30,635
Other assets	5,881	6,299
Total assets	1,275,487	1,041,782
Current liabilities:
Current portion of long-term debt, net	23,886	18,242
Accounts payable	6,667	9,978
Accrued compensation and related taxes	34,871	36,816
Dividends payable to shareholders	7,988	7,904
Short-term operating lease liabilities	7,269	7,015
Income taxes payable	5,475	1,899
Other accrued liabilities	15,712	14,302
Short-term deferred revenue	169,740	166,387
Total current liabilities	271,608	262,543
Long-term debt, net	247,375	364,260
Convertible senior notes, net	291,283	0
Long-term operating lease liabilities	24,010	26,966
Long-term deferred revenue	33,280	26,908
Other noncurrent liabilities	11,158	15,092
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, 43,842,539 shares in 2021 and 44,240,635 shares in 2020	343,677	306,244
Retained earnings	83,455	72,547
Accumulated other comprehensive loss	(30,359)	(32,778)
Total shareholders’ equity	396,773	346,013
Total liabilities and shareholders’ equity	$ 1,275,487	$ 1,041,782

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Assets
Allowance for accounts receivable	$ 578	$ 1,315
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
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)	43,842,539	44,240,635
Common stock, shares outstanding (in shares)	43,842,539	44,240,635

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Revenue:
Total revenue	$ 147,417	$ 109,699	$ 391,185	$ 319,765
Costs of revenue:
Amortization of acquired intangibles	3,599	1,664	10,719	4,974
Total costs of revenue	20,068	14,738	57,369	43,883
Gross profit	127,349	94,961	333,816	275,882
Operating expenses:
Sales and marketing	29,737	22,186	88,468	68,100
Product development	25,616	20,676	76,579	64,117
General and administrative	16,451	13,514	46,335	38,702
Amortization of acquired intangibles	7,978	4,176	22,836	12,484
Restructuring expenses	40	91	1,133	1,826
Acquisition-related expenses	1,481	1,125	2,721	1,439
Total operating expenses	81,303	61,768	238,072	186,668
Income from operations	46,046	33,193	95,744	89,214
Other (expense) income:
Interest expense	(6,510)	(2,302)	(13,625)	(7,692)
Interest income and other, net	99	110	222	443
Foreign currency loss, net	(128)	(770)	(1,006)	(1,957)
Total other expense, net	(6,539)	(2,962)	(14,409)	(9,206)
Income before income taxes	39,507	30,231	81,335	80,008
Provision for income taxes	8,531	6,254	17,841	17,947
Net income	$ 30,976	$ 23,977	$ 63,494	$ 62,061
Earnings per share:
Basic (in dollars per share)	$ 0.71	$ 0.53	$ 1.45	$ 1.38
Diluted (in dollars per share)	$ 0.70	$ 0.53	$ 1.43	$ 1.37
Weighted average shares outstanding:
Basic (in shares)	43,762	45,036	43,896	44,941
Diluted (in shares)	44,502	45,364	44,542	45,382
Cash dividends declared per common share (in dollars per share)	$ 0.175	$ 0.165	$ 0.525	$ 0.495
Software licenses
Revenue:
Total revenue	$ 51,930	$ 27,514	$ 115,354	$ 77,806
Costs of revenue:
Cost of revenue	1,574	1,103	3,763	3,302
Maintenance and services
Revenue:
Total revenue	95,487	82,185	275,831	241,959
Costs of revenue:
Cost of revenue	$ 14,895	$ 11,971	$ 42,887	$ 35,607

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 30,976	$ 23,977	$ 63,494	$ 62,061
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(2,179)	4,564	922	374
Unrealized gain (loss) on hedging activity, net of tax provision of $155 and $502 for the third quarter and first nine months of 2021, respectively, and net of tax provision of $166 and tax benefit of $1,302 for the third quarter and first nine months of 2020, respectively	479	58	1,551	(4,106)
Unrealized (loss) gain on investments, net of tax benefit of $4 and $16 for the third quarter and first nine months of 2021, respectively and net of tax benefit of $42 and tax provision of $3 for the third quarter and first nine months of 2020, respectively	(15)	21	(54)	105
Total other comprehensive (loss) income, net of tax	(1,715)	4,643	2,419	(3,627)
Comprehensive income	$ 29,261	$ 28,620	$ 65,913	$ 58,434

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Statement of Comprehensive Income [Abstract]
Tax provision (benefit) on unrealized loss on hedging activity	$ 155	$ 166	$ 502	$ (1,302)
Tax provision (benefit) on accumulated unrealized gain on investments	$ (4)	$ (42)	$ (16)	$ 3

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, 2019		45,037,000
Beginning balance at Nov. 30, 2019	$ 330,282	$ 450	$ 295,503	$ 64,303	$ (29,974)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		178,000
Issuance of stock under employee stock purchase plan	4,986	$ 2	4,984
Exercise of stock options (in shares)		115,000
Exercise of stock options	3,607	$ 1	3,606
Vesting of restricted stock units and release of deferred stock units (in shares)		197,000
Vesting of restricted stock units and release of deferred stock units	0	$ 2	(2)
Withholding tax payments related to net issuance of RSUs	(4,072)		(4,072)
Stock-based compensation	17,359		17,359
Dividends declared	$ (22,430)			(22,430)
Treasury stock repurchases and retirements (in shares)	(400,000)	(426,000)
Treasury stock repurchases and retirements	$ (20,000)	$ (4)	(6,487)	(13,509)
Net income	62,061			62,061
Other comprehensive income (loss)	(3,627)				(3,627)
Ending balance (in shares) at Aug. 31, 2020		45,101,000
Ending balance at Aug. 31, 2020	368,166	$ 451	310,891	90,425	(33,601)
Beginning balance (in shares) at May. 31, 2020		45,033,000
Beginning balance at May. 31, 2020	339,961	$ 450	303,832	73,923	(38,244)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		54,000
Issuance of stock under employee stock purchase plan	1,473	$ 1	1,472
Exercise of stock options (in shares)		2,000
Exercise of stock options	79		79
Vesting of restricted stock units and release of deferred stock units (in shares)		12,000
Vesting of restricted stock units and release of deferred stock units	0
Withholding tax payments related to net issuance of RSUs	(177)		(177)
Stock-based compensation	5,685		5,685
Dividends declared	$ (7,475)			(7,475)
Treasury stock repurchases and retirements (in shares)	0
Net income	$ 23,977			23,977
Other comprehensive income (loss)	4,643				4,643
Ending balance (in shares) at Aug. 31, 2020		45,101,000
Ending balance at Aug. 31, 2020	$ 368,166	$ 451	310,891	90,425	(33,601)
Beginning balance (in shares) at Nov. 30, 2020	44,240,635	44,241,000
Beginning balance at Nov. 30, 2020	$ 346,013	$ 442	305,802	72,547	(32,778)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		212,000
Issuance of stock under employee stock purchase plan	5,926	$ 2	5,924
Exercise of stock options (in shares)		87,000
Exercise of stock options	2,841	$ 1	2,840
Vesting of restricted stock units and release of deferred stock units (in shares)		100,000
Vesting of restricted stock units and release of deferred stock units	0	$ 1	(1)
Withholding tax payments related to net issuance of RSUs	(2,398)		(2,398)
Stock-based compensation	21,985		21,985
Equity components of Notes, net of issuance costs and tax	47,456		47,456
Purchase of capped calls, net of tax	(32,507)		(32,507)
Dividends declared	$ (23,456)			(23,456)
Treasury stock repurchases and retirements (in shares)	(800,000)	(797,000)
Treasury stock repurchases and retirements	$ (35,000)	$ (8)	(5,862)	(29,130)
Net income	63,494			63,494
Other comprehensive income (loss)	$ 2,419				2,419
Ending balance (in shares) at Aug. 31, 2021	43,842,539	43,843,000
Ending balance at Aug. 31, 2021	$ 396,773	$ 438	343,239	83,455	(30,359)
Beginning balance (in shares) at May. 31, 2021		43,745,000
Beginning balance at May. 31, 2021	365,721	$ 437	333,627	60,301	(28,644)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		67,000
Issuance of stock under employee stock purchase plan	1,886	$ 1	1,885
Exercise of stock options (in shares)		31,000
Exercise of stock options	1,009		1,009
Withholding tax payments related to net issuance of RSUs	(25)		(25)
Stock-based compensation	6,839		6,839
Equity components of Notes, net of issuance costs and tax	(341)		(341)
Purchase of capped calls, net of tax	245		245
Dividends declared	$ (7,822)			(7,822)
Treasury stock repurchases and retirements (in shares)	0
Net income	$ 30,976			30,976
Other comprehensive income (loss)	$ (1,715)				(1,715)
Ending balance (in shares) at Aug. 31, 2021	43,842,539	43,843,000
Ending balance at Aug. 31, 2021	$ 396,773	$ 438	$ 343,239	$ 83,455	$ (30,359)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Cash flows from operating activities:
Net income	$ 63,494	$ 62,061
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	4,144	4,737
Amortization of acquired intangibles and other	33,988	17,984
Amortization of debt discount and issuance costs on Notes	4,942	0
Stock-based compensation	21,985	17,359
Non-cash lease expense	6,095	6,652
Loss on disposal of property and equipment	3	704
Deferred income taxes	(1,596)	539
Allowances for bad debt and sales credits	(370)	416
Changes in operating assets and liabilities:
Accounts receivable	(1,319)	13,622
Other assets	2,590	9,178
Accounts payable and accrued liabilities	(5,994)	(18,044)
Lease liabilities	(6,440)	(5,979)
Income taxes payable	3,079	793
Deferred revenue	10,001	(7,937)
Net cash flows from operating activities	134,602	102,085
Cash flows from (used in) investing activities:
Purchases of investments	0	(5,009)
Sales and maturities of investments	4,150	14,901
Purchases of property and equipment	(2,741)	(3,419)
Decrease in escrow receivable and other	2,330	0
Net cash flows from investing activities	3,739	6,473
Cash flows from (used in) financing activities:
Proceeds from stock-based compensation plans	9,247	9,027
Payments for taxes related to net share settlements of equity awards	(2,398)	(4,072)
Repurchases of common stock	(35,000)	(20,000)
Proceeds from issuance of senior convertible notes, net of issuance costs of $9,900	350,100	0
Purchase of capped calls	(43,056)	0
Dividend payments to shareholders	(23,372)	(22,358)
Payment of principal on long-term debt	(111,669)	(7,525)
Payment of debt issuance costs	(904)	0
Net cash flows from (used in) financing activities	142,948	(44,928)
Effect of exchange rate changes on cash	616	2,686
Net increase in cash and cash equivalents	281,905	66,316
Cash and cash equivalents, beginning of period	97,990	154,259
Cash and cash equivalents, end of period	379,895	220,575
Supplemental disclosure:
Cash paid for income taxes, net of refunds of $807 in 2021 and $557 in 2020	9,920	7,052
Cash paid for interest	6,564	6,864
Non-cash investing and financing activities:
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested	8,779	12,786
Dividends declared	$ 7,988	$ 7,568

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Statement of Cash Flows [Abstract]
Payments of debt issuance costs	$ 9,900
Proceeds from income tax refunds	$ 807	$ 557

Basis of Presentation

Basis of Presentation	9 Months Ended
	Aug. 31, 2021
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") provides the best products to develop, deploy and manage high-impact business applications. Our comprehensive product stack is designed to make technology teams more productive and we have a deep commitment to the developer community, both open source and commercial alike. With Progress, organizations can accelerate the creation and delivery of strategic business applications, automate the process by which applications are configured, deployed and scaled, and make critical data and content more accessible and secure - leading to competitive differentiation and business success. Over 1,700 independent software vendors ("ISVs"), 100,000 enterprise customers, and 3 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 ISVs, original equipment manufacturers ("OEMs"), distributors and value-added resellers. ISVs 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. Value-added resellers are companies that add features or services to our product, then resell it as an integrated product or complete "turn-key" solution. 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, 2020, as amended by Form 10-K/A filed on March 30, 2021 (together, the "2020 10-K"). We made no material changes in the application of our significant accounting policies that were disclosed in our 2020 10-K. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our 2020 10-K, 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 amount 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; 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. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements Financial Instruments - Credit Losses In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which requires measurement and recognition of expected credit losses for financial assets measured at amortized cost, including accounts receivable, upon initial recognition of that financial asset using a forward-looking expected loss model, rather than an incurred loss model. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses when the fair value is below the amortized cost of the asset, removing the concept of "other-than-temporary" impairments. The Company adopted this standard effective December 1, 2020. The adoption of this standard did not have a material effect on the Company’s condensed consolidated financial statements. Recently Issued Accounting Pronouncements Convertible Debt In August 2020, the FASB issued Accounting Standards Update No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ("ASU 2020-06"), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. The standard eliminates the liability and equity separation model for convertible instruments with a cash conversion feature. As a result, after adoption, entities will no longer separately present an embedded conversion feature for such debt in equity. Additionally, the debt discount resulting from the separation of the embedded conversion feature will no longer be amortized into income as interest expense over the instrument’s life. Instead, entities will account for a convertible debt instrument wholly as debt unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging , or (2) a convertible debt instrument was issued at a substantial premium. The standard also requires applying the if-converted method to calculate the impact of the convertible instrument on diluted earnings per share. The standard is effective for fiscal years beginning after December 15, 2021, with early adoption permitted for fiscal years beginning after December 15, 2020. It can be adopted on either a full retrospective or modified retrospective basis. The Company plans to adopt this standard in accordance with the full retrospective approach in the first quarter of fiscal year 2022. We have substantially completed our assessment of the retrospective application of this new standard to our historical financial statements. On a preliminary basis, we believe that the retrospective impact of the adoption of the standard on fiscal year 2021 results will be a decrease of interest expense of approximately $6.9 million, an increase of notes payable of approximately $56.0 million, a decrease of deferred tax liabilities of approximately $13.7 million, a decrease of additional paid-in capital of approximately $49.2 million, and an increase of retained earnings of approximately $6.9 million. We will finalize our retrospective presentation of our historical financial statements under the new standard in connection with our 10-Q filings during fiscal year 2022 and our 10-K for the fiscal year ending November 30, 2022.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	9 Months Ended
	Aug. 31, 2021
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 August 31, 2021 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 356,690 $ — $ — $ 356,690 Money market funds 23,205 — — 23,205 U.S. treasury bonds 2,248 15 — 2,263 Corporate bonds 1,505 14 — 1,519 Total $ 383,648 $ 29 $ — $ 383,677 A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2020 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 79,026 $ — $ — $ 79,026 Money market funds 18,964 — — 18,964 U.S. treasury bonds 4,993 58 — 5,051 Corporate bonds 2,913 41 — 2,954 Total $ 105,896 $ 99 $ — $ 105,995 Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands): August 31, 2021 November 30, 2020 Cash and Equivalents Short-Term Investments Cash and Equivalents Short-Term Investments Cash $ 356,690 $ — $ 79,026 $ — Money market funds 23,205 — 18,964 — U.S. treasury bonds — 2,263 — 5,051 Corporate bonds — 1,519 — 2,954 Total $ 379,895 $ 3,782 $ 97,990 $ 8,005 The fair value of debt securities by contractual maturity is as follows (in thousands): August 31, 2021 November 30, 2020 Due in one year or less $ 3,021 $ 5,998 Due after one year (1) 761 2,007 Total $ 3,782 $ 8,005 (1) Includes U.S. treasury bonds 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 August 31, 2021 or November 30, 2020.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Aug. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Cash Flow Hedge On July 9, 2019, we entered into an interest rate swap contract with an initial notional amount of $150.0 million to manage the variability of cash flows associated with approximately one-half of our variable rate debt. The contract matures on April 30, 2024 and requires periodic interest rate settlements. Under this interest rate swap contract, we receive a floating rate based on the greater of 1-month LIBOR or 0.00%, and pay a fixed rate of 1.855% on the outstanding notional amount. We have designated the interes t rate swap as a cash flow hedge and assess the hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. To the extent that the interest rate swap is highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the derivative are included as a component of other comprehensive loss on our condensed consolidated balance sheets. Although we have determined at the onset of the hedge that the interest rate swap will be a highly effective hedge throughout the term of the contract, any portion of the fair value swap subsequently determined to be ineffective will be recognized in earnings. As of August 31, 2021 , the fair value of the hedge was a loss of $4.8 million, which was included in other noncurrent liabilities on our condensed consolidated balance sheets. The following table presents our interest rate swap contract where the notional amount reflects the quarterly amortization of the interest rate swap, which is equal to approximately one-half of the corresponding reduction in the balance of our term loan as we make scheduled principal payments. The fair value of the derivative represents the discounted value of the expected future discounted cash flows for the interest rate swap, based on the amortization schedule and the current forward curve for the remaining term of the contract, as of the date of each reporting period (in thousands): August 31, 2021 November 30, 2020 Notional Value Fair Value Notional Value Fair Value Interest rate swap contracts designated as cash flow hedges $ 135,938 $ (4,802) $ 142,500 $ (6,855) Forward Contracts 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 two years from the date the contract was entered. At August 31, 2021, $1.7 million was recorded in other current assets on our condensed consolidated balance sheets. At November 30, 2020, $1.4 million was recorded in other assets on our condensed consolidated balance sheets. In the three and nine months ended August 31, 2021, realized and unrealized losses of $2.3 million and realized and unrealized gains of $0.4 million, respectively, from our forward contracts were recognized in foreign currency loss, net, on our condensed consolidated statements of operations. In the three and nine months ended August 31, 2020, realized and unrealized gains of $4.5 million and $2.1 million, respectively, from our forward contracts were recognized in foreign currency loss, net, on our condensed consolidated statements of operations. These gains and losses were substantially offset by realized and unrealized losses and gains 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): August 31, 2021 November 30, 2020 Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 66,289 $ 1,728 $ 69,031 $ 1,445 Forward contracts to purchase U.S. dollars — — 440 (3) Total $ 66,289 $ 1,728 $ 69,471 $ 1,442

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Aug. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at August 31, 2021 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 23,205 $ 23,205 $ — $ — U.S. treasury bonds 2,263 — 2,263 — Corporate bonds 1,519 — 1,519 — Foreign exchange derivatives 1,728 — 1,728 — Liabilities Interest rate swap $ (4,802) $ — $ (4,802) $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2020 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 18,964 $ 18,964 $ — $ — U.S. treasury bonds 5,051 — 5,051 — Corporate bonds 2,954 — 2,954 — Foreign exchange derivatives 1,442 — 1,442 — Liabilities Interest rate swap $ (6,855) $ — $ (6,855) $ — 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. Fair Value of the Convertible Senior Notes The liability component of the Company’s Notes (as defined in Note 7: Debt ) was recorded at $295.2 million upon issuance, which reflected the fair value of a similar debt instrument that does not have an associated convertible feature. The fair value was determined based on a discounted cash flow model and classified within Level 2 of the fair value hierarchy. The discount rate used reflected both the time value of money and credit risk inherent in the Notes. The carrying value of the liability component of the Notes will be accreted, over the remaining term to maturity, to their principal value of $360.0 million. The Notes’ fair value, inclusive of the conversion feature embedded in the Notes, was $364.7 million as of August 31, 2021. The fair value was determined based on the Notes’ quoted price in an over-the-counter market on the last trading day of the reporting period and classified within Level 1 in the fair value hierarchy. See Note 7: Debt for additional information.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Aug. 31, 2021
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): August 31, 2021 November 30, 2020 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 173,486 $ (124,584) $ 48,902 $ 173,486 $ (113,863) $ 59,623 Customer-related 231,342 (111,273) 120,069 231,342 (91,326) 140,016 Trademarks and trade names 30,440 (20,663) 9,777 30,440 (18,275) 12,165 Non-compete agreement 2,000 (1,558) 442 2,000 (1,057) 943 Total $ 437,268 $ (258,078) $ 179,190 $ 437,268 $ (224,521) $ 212,747 In the three and nine months ended August 31, 2021, amortization expense related to intangible assets was $11.6 million and $33.6 million, respectively. In the three and nine months ended August 31, 2020, amortization expense related to intangible assets was $5.8 million and $17.5 million, respectively. Future amortization expense for intangible assets as of August 31, 2021, is as follows (in thousands): Remainder of 2021 $ 11,334 2022 44,836 2023 44,560 2024 31,743 2025 21,233 Thereafter 25,484 Total $ 179,190 Goodwill Changes in the carrying amount of goodwill in the nine months ended August 31, 2021 are as follows (in thousands): Balance, November 30, 2020 $ 491,726 Measurement period adjustments (326) Translation adjustments 12 Balance, August 31, 2021 $ 491,412

Business Combinations

Business Combinations	9 Months Ended
	Aug. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations Chef Acquisition On October 5, 2020, we completed the acquisition of Chef Software Inc. (“Chef”) pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated as of September 4, 2020. The acquisition was completed for a base purchase price of $220.0 million, subject to certain customary adjustments as further described in the Merger Agreement (the “Aggregate Consideration”), which was paid in cash. Pursuant to the Merger Agreement, $12.0 million of the Aggregate Consideration was deposited into an escrow account to secure certain indemnification and other potential obligations of the former Chef equity holders. Chef is a global leader in DevOps and DevSecOps, providing complete infrastructure automation to build, deploy, manage and secure applications in modern multi-cloud and hybrid environments, as well as on-premises. Chef has enhanced our position as a trusted provider of the best products to develop, deploy and manage high-impact business applications by providing industry-leading compliance and application automation products for multi-cloud and on-prem infrastructure. The acquisition bolstered our core offerings, enabling customers to respond faster to business demands and improve efficiency. We funded the acquisition through a combination of existing cash resources and by drawing down $98.5 million from our existing revolving credit facility (Note 7). The Aggregate Consideration has been allocated to Chef’s tangible assets, identifiable intangible assets, and assumed liabilities based on their estimated fair values. The preliminary fair value estimates of the net assets acquired were based upon preliminary calculations and valuations, and those estimates and assumptions are subject to change as we obtain additional information for those estimates during the measurement period (up to one year from the acquisition date). The excess of the total consideration over the tangible assets, identifiable intangible assets, and assumed liabilities was recorded as goodwill. We recorded measurement period adjustments based on our ongoing valuation and purchase price allocation procedures. We are still finalizing the valuation and purchase price allocation as it relates to the net working capital amount in the table below. The allocation of the purchase price is as follows (in thousands): Initial Purchase Price Allocation Measurement Period Adjustments Adjusted Purchase Price Allocation Life Net working capital $ 52,330 $ 200 $ 52,530 Property, plant and equipment 498 — 498 Purchased technology 38,300 — 38,300 5 years Trade name 5,700 — 5,700 5 years Customer relationships 97,300 — 97,300 7 years Other assets 122 — 122 Other noncurrent liabilities (841) — (841) Lease liabilities, net (1,810) — (1,810) Deferred taxes (7,817) 126 (7,691) Deferred revenue (12,525) — (12,525) Goodwill 59,858 (326) 59,532 Net assets acquired $ 231,115 $ — $ 231,115 The fair value of the intangible assets was estimated using the income approach in which the after-tax cash flows are discounted to present value. The cash flows are based on estimates used to value the acquisition, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model as well as the weighted average cost of capital. The valuation assumptions take into consideration our estimates of customer attrition, technology obsolescence, and revenue growth projections. Tangible assets acquired and assumed liabilities were recorded at fair value. The valuation of the assumed deferred revenue was based on our contractual commitment to provide post-contract customer support to Chef customers and future contractual performance obligations under existing hosting arrangements. The fair value of this assumed liability was based on the estimated cost plus a reasonable margin to fulfill these service obligations. A significant portion of the deferred revenue is expected to be recognized in the 12 months following the acquisition. We recorded the excess of the purchase price over the identified tangible and intangible assets as goodwill. We believe that the investment value of the future enhancement of our product and solution offerings created as a result of this acquisition has principally contributed to a purchase price that resulted in the recognition of $59.5 million of goodwill, which is not deductible for tax purposes. Acquisition-related transaction costs (e.g., legal, due diligence, valuation, and other professional fees) and certain acquisition restructuring and related charges are not included as a component of consideration transferred but are required to be expensed as incurred. During the three and nine months ended August 31, 2021, we incurred approximately $0.1 million and $0.7 million of acquisition-related costs, respectively, which are included in acquisition-related expenses on our consolidated statement of operations. The operations of Chef were included in our operating results beginning on the date of acquisition. We determined that disclosing the amount of Chef related earnings included in the consolidated statements of operations is impracticable, as certain operations of Chef were integrated into the operations of the Company from the date of acquisition. Pro Forma Information The following pro forma financial information presents the combined results of operations of Progress and Chef as if the acquisition had occurred on December 1, 2018, after giving effect to certain pro forma adjustments. The pro forma adjustments reflected herein include only those adjustments that are directly attributable to the Chef acquisition and factually supportable. These pro forma adjustments include (i) a decrease in revenue from Chef due to the beginning balance of deferred revenue being adjusted to reflect the fair value of the acquired balance, (ii) a net increase in amortization expense to record amortization expense for the $141.3 million of acquired identifiable intangible assets, (iii) an increase in interest expense to record interest for the period presented as a result of drawing down our revolving credit facility in connection with the acquisition, and (iv) the income tax effect of the adjustments made at the statutory tax rate of the U.S. (approximately 24.5%). The pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the acquisition and is not necessarily indicative of the operating results that would have actually occurred had the transaction been consummated on December 1, 2018. These results are prepared in accordance with ASC 606. (In thousands, except per share data) Pro Forma Revenue $ 128,782 Net income $ 22,830 Net income per basic share $ 0.51 Net income per diluted share $ 0.50 (In thousands, except per share data) Pro Forma Revenue $ 369,814 Net income $ 47,444 Net income per basic share $ 1.06 Net income per diluted share $ 1.05

Debt

Debt	9 Months Ended
	Aug. 31, 2021
Line of Credit Facility [Abstract]
Debt	Debt As of August 31, 2021, future maturities of the Company's long-term debt were as follows: (In thousands) 2026 Notes Credit Facility Maturing in 2024 Total Remainder of 2021 $ — $ 5,644 $ 5,644 2022 — 26,338 26,338 2023 — 33,863 33,863 2024 — 206,937 206,937 2025 — — — 2026 360,000 — 360,000 Total face value of long-term debt 360,000 272,782 632,782 Unamortized discount and issuance costs (68,717) (1,521) (70,238) Less current portion of long-term debt, net — (23,886) (23,886) Long-term debt $ 291,283 $ 247,375 $ 538,658 Notes Payable Convertible Senior Notes and Capped Calls In April 2021, the Company issued, in a private placement to certain initial purchasers in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act in transactions not involving any public offering, for resale by the initial purchasers to persons whom the initial purchasers believe are qualified institutional buyers pursuant to Rule144A under the Securities Act, Convertible Senior Notes (the "Notes") with an aggregate principal amount of $325 million, due April 15, 2026, unless earlier repurchased, redeemed or converted. The proceeds from the Notes were used or are anticipated to be used for the Capped Call Transactions (described below), working capital, and other general corporate purposes, including acquisitions. There are no required principal payments prior to the maturity of the Notes. In addition, the Company also granted the initial purchasers of the Notes an option to purchase up to an additional $50.0 million aggregate principal amount of the Notes, for settlement within a 13-day period beginning on, and including, April 13, 2021, of which $35 million of additional Notes were purchased for total proceeds of $360 million. The Notes bear interest at an annual rate of 1%, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2021. Proceeds from the Notes: (In thousands) Principal $ 360,000 Less: issuance costs (10,804) $ 349,196 Conversion Rights Before January 15, 2026, Noteholders may convert their Notes in the following circumstances: • During any fiscal quarter (and only during such fiscal quarter) commencing after the fiscal quarter ending on May 31, 2021, if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for each of at least twenty trading days (whether or not consecutive) during the thirty consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter; • During the five consecutive business days immediately after any ten consecutive trading day period (the “Measurement Period”), if the trading price per $1,000 principal amount of Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of Company’s common stock on such trading day and the conversion rate on such trading day; or • Upon the occurrence of certain corporate events or distributions on the Company’s common stock, or if the Company calls such Notes for redemption, then the Noteholder of any Note may convert such Note at any time before the close of business on the business day immediately before the related redemption date. From and after January 15, 2026, Noteholders may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company will satisfy its conversion obligations by paying cash up to the aggregate principal amount of Notes to be converted, by issuing shares of its common stock or a combination of cash and shares of its common stock, at its election. The initial conversion rate is 17.4525 shares of common stock per $1,000 principal amount of the Notes, representing an initial conversion price of approximately $57.30 per share of common stock. The conversion rate will be adjusted upon the occurrence of certain events, including spin-offs, tender offers, exchange offers, make-whole fundamental change and certain stockholder distributions. Repurchase Rights On or after April 20, 2024, and on or before the 50th scheduled trading day immediately before the maturity date, the Company may redeem for cash all or part of the Notes, subject to the partial redemption limitation, at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest, if the last reported sale price per share of the Company’s common stock exceeded 130% of the conversion price on (1) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides a redemption notice and (2) the trading day immediately before the date the Company sends such notice. Pursuant to the partial redemption limitation, the Company may not elect to redeem less than all of the outstanding Notes unless at least $100.0 million aggregate principal amount of Notes are outstanding and not subject to redemption as of the time it sends the related redemption notice. If certain corporate events that constitute a “fundamental change” (as described below) occur at any time, holders may, subject to certain exceptions, require the Company to purchase their Notes in whole or in part for cash at a price equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. A fundamental change relates to events such as business combination transactions involving the Company and certain de-listing events with respect to the Company’s common stock. Capped Call Transactions On April 8, 2021, in connection with the pricing of the Notes, the Company entered into privately negotiated capped call transactions (“Capped Call Transactions”) with one or more of the initial purchasers and/or their respective affiliates and/or other financial institutions. The Capped Call Transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, approximately 6.3 million shares (representing the number of shares of common stock initially underlying the Notes) of the Company’s common stock. The Capped Call Transactions are generally expected to reduce potential dilution to our common stock upon any conversion of Notes and/or offset any potential cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the Capped Call Transactions will initially be $89.88 per share of common stock, which represents a premium of 100% over the last reported sale price of the common stock of $44.94 per share on April 8, 2021, and is subject to certain adjustments under the terms of the Capped Call Transactions. The cost of the purchased capped calls of $43.1 million was recorded as a reduction to additional paid-in-capital. We elected to integrate the capped call options with the applicable Notes for federal income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the $43.1 million gross cost of the purchased capped calls will be deductible for income tax purposes as original discount interest over the term of the Notes. We recorded deferred tax assets of $10.6 million with respect to the capped calls which represents the tax benefit of these deductions with an offsetting entry to additional paid-in capital. Accounting for the Notes In accounting for the transaction, the Notes have been separated into liability and equity components. • The conversion option of the Notes does not require bifurcation as an embedded derivative. • The initial carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated conversion feature. The excess of the Notes’ principal amount over the initial carrying amount of the liability component, referred to as the debt discount, is amortized as interest expense over the Notes’ contractual term. • The equity component, which represents the difference between the gross proceeds and the initial liability component, was recorded as an increase to additional paid-in capital and is not remeasured as long as it continues to meet the conditions for equity classification. The Company incurred issuance costs of $10.8 million related to the Notes, allocated between the Notes’ liability and equity components proportionate to the initial carrying amount of the liability and equity components. • Issuance costs attributable to the liability component of $8.9 million are recorded as an offset to the Notes’ principal balance. They are amortized as interest expense using the effective interest method over the contractual term of the Notes. • Issuance costs attributable to the equity component of $1.9 million are recorded as an offset to the equity component in additional paid-in capital and are not amortized. Net carrying amount of the liability component: (In thousands) August 31, 2021 Principal $ 360,000 Conversion option allocated to equity (64,800) Unamortized discount (3,917) $ 291,283 Net carrying amount of the equity component, included in additional paid-in capital: (In thousands) August 31, 2021 Conversion options (1) $ 62,855 Capped call (43,056) $ 19,799 (1) Net of issuance costs Interest expense related to the Notes: Three Months Ended (In thousands) August 31, 2021 August 31, 2020 Contractual interest expense (1% coupon) $ 900 $ — Amortization of debt discount (1) 2,868 — Amortization of issuance costs (1) 392 — $ 4,160 $ — (1) Amortized based upon an effective interest rate of 5.7%. Nine Months Ended (In thousands) August 31, 2021 August 31, 2020 Contractual interest expense (1% coupon) $ 1,370 $ — Amortization of debt discount (1) 4,348 — Amortization of issuance costs (1) 594 — $ 6,312 $ — (1) Amortized based upon an effective interest rate of 5.7%. Credit Facility Our credit facility provides for a $301.0 million secured term loan and a $100.0 million secured revolving line of credit. The revolving line of credit is 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 line of credit 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. The credit facility matures on April 30, 2024, when all amounts outstanding will be due and payable in full. The revolving line of credit does not require amortization of principal. The outstanding balance of the term loan as of August 31, 2021 was $272.8 million, with $24.5 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 August 31, 2019. The principal repayment amounts are in accordance with the following schedule: (i) four payments of $1.9 million each, (ii) four payments of $3.8 million each, (iii) four payments of $5.6 million each, (iv) four payments of $7.5 million each, (v) three payments of $9.4 million each, and (vi) 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 August 31, 2021, 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 as of August 31, 2021 was 2.13%. Costs incurred to obtain our long-term debt of $2.9 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 August 31, 2021. 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 was $0.1 million for each of the three months ended August 31, 2021 and August 31, 2020. Amortization expense related to the debt issuance costs was $0.4 million and for each of the nine months ended August 31, 2021 and August 31, 2020. These amounts are recorded in interest expense on our condensed consolidated statements of operations.

Leases

Leases	9 Months Ended
	Aug. 31, 2021
Leases [Abstract]
Leases	Leases In February 2016, the FASB issued ASC 842 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The Company adopted ASC 842 on December 1, 2019 using the modified retrospective method and as a result did not adjust comparative periods or modify disclosures in those comparative periods. The new guidance provides a number of optional practical expedients in transition. The Company elected the package of practical expedients, which does not require the reassessment of prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company elected the practical expedients to combine lease and non-lease components. Contracts may be comprised of lease components, non-lease components, and elements that are not components. Each lease component represents a lessee’s right to use an underlying asset in the contract if the lessee can benefit from the right-of-use of the asset either on its own or together with other readily available resources and if the right-of-use is neither highly dependent or highly interrelated with other rights-of-use. Non-lease components include items such as common area maintenance and utilities provided by the lessor. We also elected the practical expedient to not recognize right-of-use assets and lease liabilities for short-term leases. Leases with an initial term of 12 months or less are classified as short-term leases. Consideration in the contract is comprised of any fixed payments and variable payments that depend on an index or rate. Payments in the Company's operating lease arrangements primarily consist of base office rent. In accordance with ASC 842, variable payments in an agreement that are not dependent on an index or rate are excluded from the calculation of ROU assets and lease liabilities. The Company makes variable payments on certain of its leases related to taxes, insurance, common area maintenance, and utilities, among other things. The adoption of ASC 842 on December 1, 2019 resulted in the recognition of operating lease ROU assets of approximately $28.9 million and operating lease liabilities of approximately $29.9 million. The difference between the value of the ROU assets and lease liabilities is due to the reclassification of existing deferred rent, prepaid rent, and unamortized lease incentives as of December 1, 2019. Operating leases are included in ROU assets and lease liabilities on the Company’s balance sheets. ROU assets and lease liabilities are to be presented separately for operating and finance leases; however, the Company currently has no material finance leases. The adoption of ASC 842 did not have a material impact on the Company’s condensed consolidated statement of operations, consolidated statement of stockholders' equity, consolidated statement of comprehensive income (loss) or consolidated statement of cash flows. The adoption of ASC 842 had no impact on liquidity or the Company’s debt-covenant compliance under its current debt agreements. The Company has operating leases for administrative, product development, and sales and marketing facilities, vehicles, and equipment under various non-cancelable lease agreements. The Company’s leases have remaining lease terms ranging from 1 year to 6 years. The Company’s lease terms may include options to extend or terminate the lease where it is reasonably certain that the Company will exercise those options. The Company considers several economic factors when making the determination as to whether the Company will exercise options to extend or terminate the lease, including but not limited to, the significance of leasehold improvements incurred in the office space, the difficulty in replacing the asset, underlying contractual obligations, or specific characteristics unique to a particular lease. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of operating lease cost for the three and nine months ended August 31, 2021 were as follows (in thousands): Three Months Ended Nine Months Ended August 31, 2021 August 31, 2021 Lease costs under long-term operating leases $ 1,991 $ 6,135 Lease costs under short-term operating leases 3 22 Variable lease cost under short-term and long-term operating leases (1) 130 280 Operating lease right-of-use asset impairment — 36 Total operating lease cost $ 2,124 $ 6,473 (1) Lease costs that are not fixed at lease commencement. The components of operating lease cost for the three and nine months ended August 31, 2020 were as follows (in thousands): Three Months Ended Nine Months Ended August 31, 2020 August 31, 2020 Lease costs under long-term operating leases $ 1,714 $ 5,471 Lease costs under short-term operating leases 235 379 Variable lease cost under short-term and long-term operating leases (1) 113 301 Operating lease right-of-use asset impairment — 1,189 Total operating lease cost $ 2,062 $ 7,340 (1) Lease costs that are not fixed at lease commencement. The table below presents supplemental cash flow information related to leases during the nine months ended August 31, 2021 and August 31, 2020 (in thousands): Nine Months Ended August 31, 2021 August 31, 2020 Cash paid for leases $ 6,440 $ 5,979 Right-of-use assets recognized for new leases and amendments (non-cash) $ 3,222 $ 204 Weighted average remaining lease term in years and weighted average discount rate are as follows: August 31, 2021 November 30, 2020 Weighted average remaining lease term in years 4.46 5.02 Weighted average discount rate 2.7 % 2.3 % Future payments under non-cancellable leases are as follows (in thousands): August 31, 2021 Remainder of 2021 $ 2,013 2022 7,969 2023 7,833 2024 7,605 2025 4,885 Thereafter 2,811 Total lease payments 33,116 Less imputed interest (1) (1,837) Present value of lease liabilities $ 31,279 (1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated as a result of a lease reassessment event.

Common Stock Repurchases

Common Stock Repurchases	9 Months Ended
	Aug. 31, 2021
Equity [Abstract]
Common Stock Repurchases	Common Stock RepurchasesIn January 2020, our Board of Directors increased the total share repurchase authorization from $75 million to $250 million. In the three months ended August 31, 2021 and August 31, 2020, we did not repurchase any shares of our common stock. In the nine months ended August 31, 2021 and August 31, 2020, we repurchased and retired 0.8 million shares for $35.0 million and 0.4 million shares for $20.0 million, respectively. The shares were repurchased in both periods as part of our Board of Directors authorized share repurchase program. As of August 31, 2021, there was $155.0 million remaining under the current authorization.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Aug. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We issue restricted stock units, performance-based restricted stock units and stock options under our equity plans. We also issue common stock under our employee stock purchase plan that permits employees to purchase shares through accumulated payroll deductions. Stock-based compensation expense reflects the fair value of stock-based awards, less the present value of expected dividends when applicable, 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. In 2019, 2020 and 2021, we granted performance-based restricted stock units that include two performance metrics under our Long-Term Incentive Plan ("LTIP") where the performance measurement period is three years. Vesting of the LTIP awards on the 2019 and 2020 plan is based on the following: (i) 50% 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 (ii) 50% is based on achievement of a three-year cumulative performance condition (operating income). For the 2021 plan, the vesting terms were changed to the following: (i) 25% is based on our level of attainment of specified TSR targets relative to the percentage appreciation of a specified index of companies for the respective three-year periods, and (ii) 75% is based on achievement of a three-year cumulative 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 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 on our condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Cost of maintenance and services $ 374 $ 322 $ 1,234 $ 979 Sales and marketing 1,424 1,035 4,679 3,195 Product development 1,848 1,693 6,179 5,518 General and administrative 3,193 2,635 9,893 7,667 Total stock-based compensation $ 6,839 $ 5,685 $ 21,985 $ 17,359

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Aug. 31, 2021
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 nine months ended August 31, 2021 (in thousands): Foreign Currency Translation Adjustment Unrealized Gains on Investments Unrealized Losses on Hedging Activity Accumulated Other Comprehensive Loss Balance, December 1, 2020 $ (27,616) $ 14 $ (5,176) $ (32,778) Other comprehensive income before reclassifications, net of tax 922 (54) 1,551 2,419 Balance, August 31, 2021 $ (26,694) $ (40) $ (3,625) $ (30,359) The tax effect on accumulated unrealized losses on hedging activity and unrealized gains on investments was $1.1 million and $1.6 million as of August 31, 2021 and November 30, 2020, respectively.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Aug. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Timing of Revenue Recognition 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 Nine Months Ended (In thousands) August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Performance obligations transferred at a point in time: Software licenses $ 51,930 $ 27,514 $ 115,354 $ 77,806 Performance obligations transferred over time: Maintenance 82,875 72,764 239,921 214,506 Services 12,612 9,421 35,910 27,453 Total revenue $ 147,417 $ 109,699 $ 391,185 $ 319,765 Geographic Revenue 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 Nine Months Ended (In thousands) August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 North America $ 93,880 $ 62,927 $ 236,479 $ 184,904 EMEA 40,999 37,447 122,560 106,592 Latin America 5,298 3,547 12,544 10,893 Asia Pacific 7,240 5,778 19,602 17,376 Total revenue $ 147,417 $ 109,699 $ 391,185 $ 319,765 No single customer, partner, or country outside of the U.S. has accounted for more than 10% of our total revenue for the three and nine months ended August 31, 2021 and August 31, 2020. 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 August 31, 2021, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2022 $ 4,710 2023 8,329 2024 2,717 2025 1,493 Total $ 17,249 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 $6.9 million as of August 31, 2021 and $11.3 million as of November 30, 2020. 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. As of August 31, 2021, the changes in deferred revenue were as follows (in thousands): Balance, December 1, 2020 $ 193,295 Billings and other 400,910 Revenue recognized (391,185) Balance, August 31, 2021 $ 203,020 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 August 31, 2021, transaction price allocated to remaining performance obligations was $213.7 million. We expect to recognize approximately 81% 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 is 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 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 three

Restructuring Charges

Restructuring Charges	9 Months Ended
	Aug. 31, 2021
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, 2020 $ 421 $ 3,552 $ 3,973 Costs incurred 311 822 1,133 Cash disbursements (733) (4,354) (5,087) Translation adjustments and other 1 11 12 Balance, August 31, 2021 $ — $ 31 $ 31 During the fourth quarter of fiscal year 2020, we restructured our operations in connection with the acquisition of Chef (Note 6). This restructuring resulted in a reduction in redundant positions, primarily within administrative functions of Chef. For the three months ended August 31, 2021, we incurred minimal expenses related to this restructuring. For the nine months ended August 31, 2021, we incurred expenses of $0.9 million related to this restructuring. The expenses are recorded as restructuring expenses in the consolidated statements of operations. A summary of activity for this restructuring action is as follows (in thousands): Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2020 $ — $ 3,523 $ 3,523 Costs incurred 105 823 928 Cash disbursements (105) (4,326) (4,431) Translation adjustments and other — 11 11 Balance, August 31, 2021 $ — $ 31 $ 31 Cash disbursements for expenses incurred to date under this restructuring are expected to be made through fiscal year 2021. Accordingly, the balance of the restructuring reserve, which is not material, is included in other accrued liabilities on the consolidated balance sheet at August 31, 2021. We expect to incur additional expenses as part of this action related to employee costs and facility closures as we consolidate offices in various locations during fiscal year 2021. In September 2021, we closed a facility as part of this restructuring action and expect to incur restructuring charges of approximately $2.9 million during the fourth quarter of fiscal year 2021.

Income Taxes

Income Taxes	9 Months Ended
	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income tax provision for the third quarter of fiscal years 2021 and 2020 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 in which they occur. The estimates are reevaluated each quarter based on our estimated tax expense for the full fiscal year. Our effective tax rate was 22% in the third fiscal quarter of 2021, compared to 21% in the third fiscal quarter of 2020. The increase is due primarily to discrete tax benefits in the third fiscal quarter of 2020. There were no significant discrete tax items in the third fiscal quarter of 2021. Our federal income tax returns have been examined or are closed by statute for all years prior to fiscal year 2017. Our state income tax returns have been examined or are closed by statute for all years prior to fiscal year 2016. 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 2014 because they are closed by statute.

Earnings per share

Earnings per share	9 Months Ended
	Aug. 31, 2021
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 Nine Months Ended August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Net income $ 30,976 $ 23,977 $ 63,494 $ 62,061 Weighted average shares outstanding 43,762 45,036 43,896 44,941 Dilutive impact from common stock equivalents 740 328 646 441 Diluted weighted average shares outstanding 44,502 45,364 44,542 45,382 Basic earnings per share $ 0.71 $ 0.53 $ 1.45 $ 1.38 Diluted earnings per share $ 0.70 $ 0.53 $ 1.43 $ 1.37 We excluded stock awards representing approximately 1,250,000 and 1,241,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2021, respectively, because these awards were anti-dilutive. In the three and nine months ended August 31, 2020, we excluded stock awards representing 1,450,000 shares and 1,216,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive. In connection with the issuance of the Notes, we entered into Capped Calls (Note 7), which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been antidilutive.

Segment Information

Segment Information	9 Months Ended
	Aug. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information 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 ("CODM") in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer. Beginning in the second quarter of fiscal year 2021, we operate as one operating segment: software products to develop, deploy, and manage high-impact business applications. Our CODM evaluates financial information on a consolidated basis. As we operate as one operating segment, the required financial segment information can be found in the condensed consolidated financial statements.

Subsequent Events

Subsequent Events	9 Months Ended
	Aug. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn September 23, 2021, we entered into a definitive agreement to acquire MPC Kappa Holdings, Inc. (“MPC”), the ultimate beneficial owner of Kemp Technologies, Inc. and Flowmon Networks a.s. and their subsidiaries (collectively, “Kemp”), for approximately $258 million in cash (the “Purchase Price”), subject to customary adjustments. The closing of the acquisition (the “Closing”) is expected to occur during the fourth quarter of our fiscal year 2021. The acquisition will be funded with existing cash on hand at the Closing. Kemp is the always-on application experience company that helps enterprises deliver, optimize and secure applications and networks across any cloud or hybrid environment. With this acquisition, we will extend our portfolio of market-leading products in DevOps, Application Development, Data Connectivity and Digital Experience, adding Application Experience Management (AX). Results of operations for Kemp will be included in our consolidated financial statements from the date of the Closing.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Aug. 31, 2021
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, 2020, as amended by Form 10-K/A filed on March 30, 2021 (together, the "2020 10-K"). We made no material changes in the application of our significant accounting policies that were disclosed in our 2020 10-K. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our 2020 10-K, 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 amount 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; 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements Financial Instruments - Credit Losses In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which requires measurement and recognition of expected credit losses for financial assets measured at amortized cost, including accounts receivable, upon initial recognition of that financial asset using a forward-looking expected loss model, rather than an incurred loss model. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses when the fair value is below the amortized cost of the asset, removing the concept of "other-than-temporary" impairments. The Company adopted this standard effective December 1, 2020. The adoption of this standard did not have a material effect on the Company’s condensed consolidated financial statements. Recently Issued Accounting Pronouncements Convertible Debt In August 2020, the FASB issued Accounting Standards Update No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ("ASU 2020-06"), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. The standard eliminates the liability and equity separation model for convertible instruments with a cash conversion feature. As a result, after adoption, entities will no longer separately present an embedded conversion feature for such debt in equity. Additionally, the debt discount resulting from the separation of the embedded conversion feature will no longer be amortized into income as interest expense over the instrument’s life. Instead, entities will account for a convertible debt instrument wholly as debt unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging , or (2) a convertible debt instrument was issued at a substantial premium. The standard also requires applying the if-converted method to calculate the impact of the convertible instrument on diluted earnings per share. The standard is effective for fiscal years beginning after December 15, 2021, with early adoption permitted for fiscal years beginning after December 15, 2020. It can be adopted on either a full retrospective or modified retrospective basis. The Company plans to adopt this standard in accordance with the full retrospective approach in the first quarter of fiscal year 2022. We have substantially completed our assessment of the retrospective application of this new standard to our historical financial statements. On a preliminary basis, we believe that the retrospective impact of the adoption of the standard on fiscal year 2021 results will be a decrease of interest expense of approximately $6.9 million, an increase of notes payable of approximately $56.0 million, a decrease of deferred tax liabilities of approximately $13.7 million, a decrease of additional paid-in capital of approximately $49.2 million, and an increase of retained earnings of approximately $6.9 million. We will finalize our retrospective presentation of our historical financial statements under the new standard in connection with our 10-Q filings during fiscal year 2022 and our 10-K for the fiscal year ending November 30, 2022.

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments (Tables)	9 Months Ended
	Aug. 31, 2021
Investments and Cash [Abstract]
Summary of Cash, Cash Equivalents and Available-for-sale Investments	A summary of our cash, cash equivalents and available-for-sale investments at August 31, 2021 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 356,690 $ — $ — $ 356,690 Money market funds 23,205 — — 23,205 U.S. treasury bonds 2,248 15 — 2,263 Corporate bonds 1,505 14 — 1,519 Total $ 383,648 $ 29 $ — $ 383,677 A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2020 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 79,026 $ — $ — $ 79,026 Money market funds 18,964 — — 18,964 U.S. treasury bonds 4,993 58 — 5,051 Corporate bonds 2,913 41 — 2,954 Total $ 105,896 $ 99 $ — $ 105,995
Summary of Cash, Cash Equivalents and Available-for-sale Investments by Balance Sheet Classification	Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands): August 31, 2021 November 30, 2020 Cash and Equivalents Short-Term Investments Cash and Equivalents Short-Term Investments Cash $ 356,690 $ — $ 79,026 $ — Money market funds 23,205 — 18,964 — U.S. treasury bonds — 2,263 — 5,051 Corporate bonds — 1,519 — 2,954 Total $ 379,895 $ 3,782 $ 97,990 $ 8,005
Fair Value of Debt Securities by Contractual Maturity	The fair value of debt securities by contractual maturity is as follows (in thousands): August 31, 2021 November 30, 2020 Due in one year or less $ 3,021 $ 5,998 Due after one year (1) 761 2,007 Total $ 3,782 $ 8,005 (1) Includes U.S. treasury bonds 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)	9 Months Ended
	Aug. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding Foreign Currency Forward Contracts	The following table presents our interest rate swap contract where the notional amount reflects the quarterly amortization of the interest rate swap, which is equal to approximately one-half of the corresponding reduction in the balance of our term loan as we make scheduled principal payments. The fair value of the derivative represents the discounted value of the expected future discounted cash flows for the interest rate swap, based on the amortization schedule and the current forward curve for the remaining term of the contract, as of the date of each reporting period (in thousands): August 31, 2021 November 30, 2020 Notional Value Fair Value Notional Value Fair Value Interest rate swap contracts designated as cash flow hedges $ 135,938 $ (4,802) $ 142,500 $ (6,855) The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands): August 31, 2021 November 30, 2020 Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 66,289 $ 1,728 $ 69,031 $ 1,445 Forward contracts to purchase U.S. dollars — — 440 (3) Total $ 66,289 $ 1,728 $ 69,471 $ 1,442

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Aug. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements within the Fair Value Hierarchy of the Financial Assets	The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at August 31, 2021 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 23,205 $ 23,205 $ — $ — U.S. treasury bonds 2,263 — 2,263 — Corporate bonds 1,519 — 1,519 — Foreign exchange derivatives 1,728 — 1,728 — Liabilities Interest rate swap $ (4,802) $ — $ (4,802) $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2020 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 18,964 $ 18,964 $ — $ — U.S. treasury bonds 5,051 — 5,051 — Corporate bonds 2,954 — 2,954 — Foreign exchange derivatives 1,442 — 1,442 — Liabilities Interest rate swap $ (6,855) $ — $ (6,855) $ —

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Aug. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are comprised of the following significant classes (in thousands): August 31, 2021 November 30, 2020 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 173,486 $ (124,584) $ 48,902 $ 173,486 $ (113,863) $ 59,623 Customer-related 231,342 (111,273) 120,069 231,342 (91,326) 140,016 Trademarks and trade names 30,440 (20,663) 9,777 30,440 (18,275) 12,165 Non-compete agreement 2,000 (1,558) 442 2,000 (1,057) 943 Total $ 437,268 $ (258,078) $ 179,190 $ 437,268 $ (224,521) $ 212,747
Schedule of Future Amortization Expense from Intangible Assets Held	Future amortization expense for intangible assets as of August 31, 2021, is as follows (in thousands): Remainder of 2021 $ 11,334 2022 44,836 2023 44,560 2024 31,743 2025 21,233 Thereafter 25,484 Total $ 179,190
Schedule of Goodwill	Changes in the carrying amount of goodwill in the nine months ended August 31, 2021 are as follows (in thousands): Balance, November 30, 2020 $ 491,726 Measurement period adjustments (326) Translation adjustments 12 Balance, August 31, 2021 $ 491,412

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Aug. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The allocation of the purchase price is as follows (in thousands): Initial Purchase Price Allocation Measurement Period Adjustments Adjusted Purchase Price Allocation Life Net working capital $ 52,330 $ 200 $ 52,530 Property, plant and equipment 498 — 498 Purchased technology 38,300 — 38,300 5 years Trade name 5,700 — 5,700 5 years Customer relationships 97,300 — 97,300 7 years Other assets 122 — 122 Other noncurrent liabilities (841) — (841) Lease liabilities, net (1,810) — (1,810) Deferred taxes (7,817) 126 (7,691) Deferred revenue (12,525) — (12,525) Goodwill 59,858 (326) 59,532 Net assets acquired $ 231,115 $ — $ 231,115
Business Acquisition, Pro Forma Information	(In thousands, except per share data) Pro Forma Revenue $ 128,782 Net income $ 22,830 Net income per basic share $ 0.51 Net income per diluted share $ 0.50 (In thousands, except per share data) Pro Forma Revenue $ 369,814 Net income $ 47,444 Net income per basic share $ 1.06 Net income per diluted share $ 1.05

Debt (Tables)

Debt (Tables)	9 Months Ended
	Aug. 31, 2021
Line of Credit Facility [Abstract]
Schedule of Maturities of Long-term Debt	As of August 31, 2021, future maturities of the Company's long-term debt were as follows: (In thousands) 2026 Notes Credit Facility Maturing in 2024 Total Remainder of 2021 $ — $ 5,644 $ 5,644 2022 — 26,338 26,338 2023 — 33,863 33,863 2024 — 206,937 206,937 2025 — — — 2026 360,000 — 360,000 Total face value of long-term debt 360,000 272,782 632,782 Unamortized discount and issuance costs (68,717) (1,521) (70,238) Less current portion of long-term debt, net — (23,886) (23,886) Long-term debt $ 291,283 $ 247,375 $ 538,658
Schedule of Proceeds From Notes	Proceeds from the Notes: (In thousands) Principal $ 360,000 Less: issuance costs (10,804) $ 349,196
Schedule of Net Carrying Amount of liability Component	Net carrying amount of the liability component: (In thousands) August 31, 2021 Principal $ 360,000 Conversion option allocated to equity (64,800) Unamortized discount (3,917) $ 291,283
Schedule of Net Carrying Amount of Equity Component	Net carrying amount of the equity component, included in additional paid-in capital: (In thousands) August 31, 2021 Conversion options (1) $ 62,855 Capped call (43,056) $ 19,799 (1) Net of issuance costs
Schedule of Interest Expense Related to Notes	Interest expense related to the Notes: Three Months Ended (In thousands) August 31, 2021 August 31, 2020 Contractual interest expense (1% coupon) $ 900 $ — Amortization of debt discount (1) 2,868 — Amortization of issuance costs (1) 392 — $ 4,160 $ — (1) Amortized based upon an effective interest rate of 5.7%. Nine Months Ended (In thousands) August 31, 2021 August 31, 2020 Contractual interest expense (1% coupon) $ 1,370 $ — Amortization of debt discount (1) 4,348 — Amortization of issuance costs (1) 594 — $ 6,312 $ — (1) Amortized based upon an effective interest rate of 5.7%.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Aug. 31, 2021
Leases [Abstract]
Lease, Cost	The components of operating lease cost for the three and nine months ended August 31, 2021 were as follows (in thousands): Three Months Ended Nine Months Ended August 31, 2021 August 31, 2021 Lease costs under long-term operating leases $ 1,991 $ 6,135 Lease costs under short-term operating leases 3 22 Variable lease cost under short-term and long-term operating leases (1) 130 280 Operating lease right-of-use asset impairment — 36 Total operating lease cost $ 2,124 $ 6,473 (1) Lease costs that are not fixed at lease commencement. The components of operating lease cost for the three and nine months ended August 31, 2020 were as follows (in thousands): Three Months Ended Nine Months Ended August 31, 2020 August 31, 2020 Lease costs under long-term operating leases $ 1,714 $ 5,471 Lease costs under short-term operating leases 235 379 Variable lease cost under short-term and long-term operating leases (1) 113 301 Operating lease right-of-use asset impairment — 1,189 Total operating lease cost $ 2,062 $ 7,340 (1) Lease costs that are not fixed at lease commencement. The table below presents supplemental cash flow information related to leases during the nine months ended August 31, 2021 and August 31, 2020 (in thousands): Nine Months Ended August 31, 2021 August 31, 2020 Cash paid for leases $ 6,440 $ 5,979 Right-of-use assets recognized for new leases and amendments (non-cash) $ 3,222 $ 204 Weighted average remaining lease term in years and weighted average discount rate are as follows: August 31, 2021 November 30, 2020 Weighted average remaining lease term in years 4.46 5.02 Weighted average discount rate 2.7 % 2.3 %
Lessee, Operating Lease, Liability, Maturity	Future payments under non-cancellable leases are as follows (in thousands): August 31, 2021 Remainder of 2021 $ 2,013 2022 7,969 2023 7,833 2024 7,605 2025 4,885 Thereafter 2,811 Total lease payments 33,116 Less imputed interest (1) (1,837) Present value of lease liabilities $ 31,279 (1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated as a result of a lease reassessment event.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Aug. 31, 2021
Share-based Payment Arrangement [Abstract]
Classification of Stock-Based Compensation	The following table provides the classification of stock-based compensation as reflected on our condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Cost of maintenance and services $ 374 $ 322 $ 1,234 $ 979 Sales and marketing 1,424 1,035 4,679 3,195 Product development 1,848 1,693 6,179 5,518 General and administrative 3,193 2,635 9,893 7,667 Total stock-based compensation $ 6,839 $ 5,685 $ 21,985 $ 17,359

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Aug. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated balances of other comprehensive loss during the nine months ended August 31, 2021 (in thousands): Foreign Currency Translation Adjustment Unrealized Gains on Investments Unrealized Losses on Hedging Activity Accumulated Other Comprehensive Loss Balance, December 1, 2020 $ (27,616) $ 14 $ (5,176) $ (32,778) Other comprehensive income before reclassifications, net of tax 922 (54) 1,551 2,419 Balance, August 31, 2021 $ (26,694) $ (40) $ (3,625) $ (30,359)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Aug. 31, 2021
Revenue from Contract with Customer [Abstract]
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 Nine Months Ended (In thousands) August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Performance obligations transferred at a point in time: Software licenses $ 51,930 $ 27,514 $ 115,354 $ 77,806 Performance obligations transferred over time: Maintenance 82,875 72,764 239,921 214,506 Services 12,612 9,421 35,910 27,453 Total revenue $ 147,417 $ 109,699 $ 391,185 $ 319,765
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 Nine Months Ended (In thousands) August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 North America $ 93,880 $ 62,927 $ 236,479 $ 184,904 EMEA 40,999 37,447 122,560 106,592 Latin America 5,298 3,547 12,544 10,893 Asia Pacific 7,240 5,778 19,602 17,376 Total revenue $ 147,417 $ 109,699 $ 391,185 $ 319,765
Schedule of Contract with Customer, Asset and Liability	As of August 31, 2021, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2022 $ 4,710 2023 8,329 2024 2,717 2025 1,493 Total $ 17,249 As of August 31, 2021, the changes in deferred revenue were as follows (in thousands): Balance, December 1, 2020 $ 193,295 Billings and other 400,910 Revenue recognized (391,185) Balance, August 31, 2021 $ 203,020

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Aug. 31, 2021
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, 2020 $ 421 $ 3,552 $ 3,973 Costs incurred 311 822 1,133 Cash disbursements (733) (4,354) (5,087) Translation adjustments and other 1 11 12 Balance, August 31, 2021 $ — $ 31 $ 31 A summary of activity for this restructuring action is as follows (in thousands): Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2020 $ — $ 3,523 $ 3,523 Costs incurred 105 823 928 Cash disbursements (105) (4,326) (4,431) Translation adjustments and other — 11 11 Balance, August 31, 2021 $ — $ 31 $ 31

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Aug. 31, 2021
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 Nine Months Ended August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Net income $ 30,976 $ 23,977 $ 63,494 $ 62,061 Weighted average shares outstanding 43,762 45,036 43,896 44,941 Dilutive impact from common stock equivalents 740 328 646 441 Diluted weighted average shares outstanding 44,502 45,364 44,542 45,382 Basic earnings per share $ 0.71 $ 0.53 $ 1.45 $ 1.38 Diluted earnings per share $ 0.70 $ 0.53 $ 1.43 $ 1.37

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) enterprise_customer in Thousands, $ in Thousands, developer in Millions	3 Months Ended			9 Months Ended
	Feb. 28, 2022USD ($)	Aug. 31, 2021USD ($)	Aug. 31, 2020USD ($)	Aug. 31, 2021USD ($)software_vendorenterprise_customerdeveloper	Aug. 31, 2020USD ($)	Nov. 30, 2020USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Number of independent software vendors (more than) | software_vendor				1,700
Number of enterprise customers | enterprise_customer				100
Number of developers | developer				3
Decrease of interest expense		$ (6,510)	$ (2,302)	$ (13,625)	$ (7,692)
Increase to retained earnings		$ 83,455		$ 83,455		$ 72,547
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2020-06 | Forecast
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Decrease of interest expense	$ 6,900
Increase in notes payable	56,000
Decrease in deferred tax liabilities	13,700
Decrease to additional Paid in Capital	49,200
Increase to retained earnings	$ 6,900

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Summary Of Cash, Cash Equivalents And Available-For-Sale Investments (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 379,895	$ 97,990
Unrealized Gains	29	99
Unrealized Losses	0	0
Total Amortized Cost Basis	383,648	105,896
Total Fair Value	383,677	105,995
U.S. treasury bonds
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	2,248	4,993
Unrealized Gains	15	58
Unrealized Losses	0	0
Fair Value	2,263	5,051
Corporate bonds
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	1,505	2,913
Unrealized Gains	14	41
Unrealized Losses	0	0
Fair Value	1,519	2,954
Cash
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	356,690	79,026
Money market funds
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 23,205	$ 18,964

Cash, Cash Equivalents and In_4

Cash, Cash Equivalents and Investments - Summary of Cash, Cash Equivalents and Available-for-sale Investments by Balance Sheet Classification (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Cash, Cash Equivalents and Investments [Line Items]
Cash and Equivalents	$ 379,895	$ 97,990
Short-Term Investments	3,782	8,005
U.S. treasury bonds
Cash, Cash Equivalents and Investments [Line Items]
Short-Term Investments	2,263	5,051
Corporate bonds
Cash, Cash Equivalents and Investments [Line Items]
Short-Term Investments	1,519	2,954
Cash
Cash, Cash Equivalents and Investments [Line Items]
Cash and Equivalents	356,690	79,026
Money market funds
Cash, Cash Equivalents and Investments [Line Items]
Cash and Equivalents	$ 23,205	$ 18,964

Cash, Cash Equivalents and In_5

Cash, Cash Equivalents and Investments - Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Investments and Cash [Abstract]
Due in one year or less	$ 3,021	$ 5,998
Due after one year	761	2,007
Total	$ 3,782	$ 8,005

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Nov. 30, 2020	Jul. 09, 2019
Other Noncurrent Liabilities
Derivative [Line Items]
Derivative liabilities	$ 4,800,000		$ 4,800,000
Interest Rate Swap
Derivative [Line Items]
Notional amount						$ 150,000,000
Fixed interest rate						1.855%
Interest Rate Swap | London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Basis spread on variable rate						0.00%
Forward Contracts
Derivative [Line Items]
Minimum maturity period, foreign currency derivative			30 days
Maximum maturity period, foreign currency derivative			2 years
Derivative, gain (loss) on derivative, net	(2,300,000)	$ 4,500,000	$ 400,000	$ 2,100,000
Forward Contracts | Other Current Assets
Derivative [Line Items]
Derivative liabilities	$ 1,700,000		$ 1,700,000
Forward Contracts | Other Assets
Derivative [Line Items]
Derivative liabilities					$ 1,400,000

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivatives (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Derivative [Line Items]
Notional Value	$ 66,289	$ 69,471
Fair Value	1,728	1,442
Interest rate swap contracts designated as cash flow hedges
Derivative [Line Items]
Notional Value	135,938	142,500
Fair Value	(4,802)	(6,855)
Forward contracts to sell U.S. dollars
Derivative [Line Items]
Notional Value	66,289	69,031
Fair Value	1,728	1,445
Forward contracts to purchase U.S. dollars
Derivative [Line Items]
Notional Value	0	440
Fair Value	$ 0	$ (3)

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	$ 23,205	$ 18,964
Money market funds | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	23,205	18,964
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
U.S. treasury bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	2,263	5,051
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	2,263	5,051
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	1,519	2,954
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	1,519	2,954
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]
Assets	1,728	1,442
Foreign exchange derivatives | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Foreign exchange derivatives | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	1,728	1,442
Foreign exchange derivatives | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(4,802)	(6,855)
Interest rate swap | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	0	0
Interest rate swap | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(4,802)	(6,855)
Interest rate swap | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	Aug. 31, 2021USD ($)
Debt Instrument [Line Items]
Principal value	$ 632,782
Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	295,200
Principal value	360,000
Fair value notes	$ 364,700

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule Of Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 437,268	$ 437,268
Accumulated Amortization	(258,078)	(224,521)
Net Book Value	179,190	212,747
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	173,486	173,486
Accumulated Amortization	(124,584)	(113,863)
Net Book Value	48,902	59,623
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	231,342	231,342
Accumulated Amortization	(111,273)	(91,326)
Net Book Value	120,069	140,016
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	30,440	30,440
Accumulated Amortization	(20,663)	(18,275)
Net Book Value	9,777	12,165
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,000	2,000
Accumulated Amortization	(1,558)	(1,057)
Net Book Value	$ 442	$ 943

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of acquired intangibles and other	$ 11.6	$ 5.8	$ 33.6	$ 17.5

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Schedule Of Future Amortization Expense (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 11,334
2022	44,836
2023	44,560
2024	31,743
2025	21,233
Thereafter	25,484
Net Book Value	$ 179,190	$ 212,747

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Aug. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance, November 30, 2020	$ 491,726
Measurement period adjustments	(326)
Translation adjustments	12
Balance, August 31, 2021	$ 491,412

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	Oct. 05, 2020	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Nov. 30, 2020
Business Acquisition [Line Items]
Goodwill		$ 491,412		$ 491,412		$ 491,726
Acquisition-related expenses		1,481	$ 1,125	$ 2,721	$ 1,439
Federal statutory income tax rate, percent				24.50%
Credit Agreement | Credit Facility Maturing in 2024
Business Acquisition [Line Items]
Proceeds from lines of credit	$ 98,500
Chef Acquisition
Business Acquisition [Line Items]
Cash payments in business acquisition	220,000
Escrow deposit	12,000
Goodwill	$ 59,858	59,532		$ 59,532
Acquisition-related expenses		100		700
Intangible assets		$ 141,300		$ 141,300

Business Combinations - Schedul

Business Combinations - Schedule of Net Assets Acquired (Details) - USD ($) $ in Thousands	Oct. 05, 2020	Aug. 31, 2021	Aug. 31, 2021	Nov. 30, 2020
Business Acquisition [Line Items]
Goodwill		$ 491,412	$ 491,412	$ 491,726
Measurement Period Adjustments
Goodwill		(326)
Chef acquisition
Business Acquisition [Line Items]
Net working capital	$ 52,330	52,530	52,530
Property, plant and equipment	498	498	498
Intangible assets		141,300	141,300
Other assets	122	122	122
Other noncurrent liabilities	(841)	(841)	(841)
Lease liabilities, net	(1,810)	(1,810)	(1,810)
Deferred taxes	(7,817)	(7,691)	(7,691)
Deferred revenue	(12,525)	(12,525)	(12,525)
Goodwill	59,858	59,532	59,532
Net assets acquired	231,115	231,115	231,115
Measurement Period Adjustments
Net working capital			200
Deferred taxes			126
Goodwill			(326)
Net assets acquired			0
Chef acquisition | Purchased technology
Business Acquisition [Line Items]
Intangible assets	$ 38,300	38,300	38,300
Measurement Period Adjustments
Finite-lived intangible assets, useful life	5 years
Chef acquisition | Trade name
Business Acquisition [Line Items]
Intangible assets	$ 5,700	5,700	5,700
Measurement Period Adjustments
Finite-lived intangible assets, useful life	5 years
Chef acquisition | Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 97,300	$ 97,300	$ 97,300
Measurement Period Adjustments
Finite-lived intangible assets, useful life	7 years

Business Combinations - Pro For

Business Combinations - Pro Forma Information (Details) - Chef Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2020
Business Acquisition [Line Items]
Revenue	$ 128,782	$ 369,814
Net income	$ 22,830	$ 47,444
Net income per basic share (in dollars per share)	$ 0.51	$ 1.06
Net income per diluted share (in dollars per share)	$ 0.50	$ 1.05

Debt - Future Maturities (Detai

Debt - Future Maturities (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020
Debt Instrument [Line Items]
Remainder of 2021	$ 5,644
2022	26,338
2023	33,863
2024	206,937
2025	0
2026	360,000
Principal	632,782
Unamortized discount and issuance costs	(70,238)
Less current portion of long-term debt, net	(23,886)	$ (18,242)
Long-term debt	538,658
Convertible Debt
Debt Instrument [Line Items]
Remainder of 2021	0
2022	0
2023	0
2024	0
2025	0
2026	360,000
Principal	360,000
Unamortized discount and issuance costs	(68,717)
Less current portion of long-term debt, net	0
Long-term debt	291,283
Secured Debt
Debt Instrument [Line Items]
Remainder of 2021	5,644
2022	26,338
2023	33,863
2024	206,937
2025	0
2026	0
Principal	272,782
Unamortized discount and issuance costs	(1,521)
Less current portion of long-term debt, net	(23,886)
Long-term debt	$ 247,375

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, shares in Millions	Apr. 08, 2021USD ($)$ / sharesshares	Apr. 30, 2021USD ($)	Aug. 31, 2021USD ($)daytrading_day$ / shares
Line of Credit Facility [Line Items]
Number of shares subject to anti-dilution adjustments (in shares) | shares	6.3
Capped call transactions (in dollars per share) | $ / shares	$ 89.88
Represents premium price	100.00%
Payments for derivative instrument	$ 43,100,000
DTA, derivative instruments	$ 10,600,000
Convertible Debt
Line of Credit Facility [Line Items]
Aggregate principal amount			$ 295,200,000
Debt issuance cost			10,800,000
Debt issuance costs, liability component			8,900,000
Debt issuance costs, equity component			1,900,000
Convertible Senior Notes
Line of Credit Facility [Line Items]
Debt issuance cost			$ 10,804,000
Convertible Senior Notes | Convertible Debt
Line of Credit Facility [Line Items]
Aggregate principal amount		$ 325,000,000
Convertible debt , additional purchase amount available		$ 50,000,000
Convertible debt , additional purchase amount, settlement period		13 days
Convertible debt, additional purchase amount		$ 35,000,000
Proceeds from convertible debt		$ 360,000,000
Annual interest rate		1.00%	1.00%
Conversion ratio		0.0174525
Common stock exceeds			130.00%
Trading days | day			20
Consecutive trading day | day			30
Initial conversion price (in dollars per share) | $ / shares			$ 57.30
Repurchase price			100.00%
Principal amount redeemable			$ 100,000,000
Share price (in dollars per share) | $ / shares	$ 44.94
Convertible Senior Notes | Convertible Debt | Debt Instrument, Redemption, Period One
Line of Credit Facility [Line Items]
Common stock exceeds			130.00%
Trading days | trading_day			20
Consecutive trading day | trading_day			30
Convertible Senior Notes | Convertible Debt | Debt Instrument, Redemption, Period Two
Line of Credit Facility [Line Items]
Common stock exceeds			98.00%
Trading days | day			5

Debt - Proceeds Notes (Details)

Debt - Proceeds Notes (Details) $ in Thousands	Aug. 31, 2021USD ($)
Debt Instrument [Line Items]
Principal	$ 632,782
Convertible Senior Notes
Debt Instrument [Line Items]
Principal	360,000
Less: issuance costs	(10,804)
Long-term debt	349,196
Convertible Debt
Debt Instrument [Line Items]
Principal	360,000
Less: issuance costs	(10,800)
Convertible Debt | Convertible Senior Notes
Debt Instrument [Line Items]
Principal	360,000
Long-term debt	$ 291,283

Debt - Net Carrying Amount Of T

Debt - Net Carrying Amount Of The Liability Component (Details) $ in Thousands	Aug. 31, 2021USD ($)
Debt Instrument [Line Items]
Principal	$ 632,782
Convertible Senior Notes
Debt Instrument [Line Items]
Principal	360,000
Long-term debt	349,196
Convertible Debt
Debt Instrument [Line Items]
Principal	360,000
Convertible Debt | Convertible Senior Notes
Debt Instrument [Line Items]
Principal	360,000
Conversion option allocated to equity	(64,800)
Unamortized discount	(3,917)
Long-term debt	$ 291,283

Debt - Net Carrying Amount Of_2

Debt - Net Carrying Amount Of The Equity Component (Details) $ in Thousands	Aug. 31, 2021USD ($)
Line of Credit Facility [Abstract]
Conversion options	$ 62,855
Capped call	(43,056)
Total	$ 19,799

Debt - Interest Expense Related

Debt - Interest Expense Related To The Notes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Apr. 30, 2021
Debt Instrument [Line Items]
Contractual interest expense	$ 900	$ 0	$ 1,370	$ 0
Amortization of debt discount	2,868	0	4,348	0
Amortization of issuance costs	392	0	594	0
Interest expense, debt	$ 4,160	$ 0	$ 6,312	$ 0
Convertible Senior Notes | Convertible Debt
Debt Instrument [Line Items]
Annual interest rate	1.00%		1.00%		1.00%
Debt Instrument, Interest Rate, Effective Percentage	5.70%		5.70%

Debt - Credit Facility (Details

Debt - Credit Facility (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Apr. 30, 2019
Line of Credit Facility [Line Items]
Long-term debt, maturity, next 12 months	$ 26,338,000		$ 26,338,000
Amortization of debt issuance costs	392,000	$ 0	594,000	$ 0
Credit Agreement
Line of Credit Facility [Line Items]
Principal repayments, option one	1,900,000		1,900,000
Principal repayments, option two	3,800,000		3,800,000
Principal repayments, option three	5,600,000		5,600,000
Principal repayments, option four	7,500,000		7,500,000
Principal repayments, three payment schedules	$ 9,400,000		$ 9,400,000
Interest rate of credit facilities	2.13%		2.13%
Debt issuance cost	$ 2,900,000		$ 2,900,000
Amortization of debt issuance costs	100,000	$ 100,000	400,000	$ 400,000
Credit Agreement | Secured Revolving Credit Facility Maturing in 2024
Line of Credit Facility [Line Items]
Aggregate principal amount					$ 301,000,000
Unsecured credit facility					100,000,000
Additional borrowing capacity available					125,000,000
Fair value of term loan	272,800,000		272,800,000
Long-term debt, maturity, next 12 months	24,500,000		24,500,000
Credit Agreement | Swing Line Loans
Line of Credit Facility [Line Items]
Aggregate principal amount					25,000,000
Credit Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Aggregate principal amount					$ 25,000,000
Letters of credit outstanding	$ 2,400,000		$ 2,400,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Nov. 30, 2020	Dec. 01, 2019
Lessee, Lease, Description [Line Items]
Right-of-use lease assets	$ 28,286	$ 30,635
Operating lease, liability	$ 31,279
Minimum
Lessee, Lease, Description [Line Items]
Term of contract (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract (in years)	6 years
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Right-of-use lease assets			$ 28,900
Operating lease, liability			$ 29,900

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Nov. 30, 2020
Leases [Abstract]
Lease costs under long-term operating leases	$ 1,991	$ 1,714	$ 6,135	$ 5,471
Lease costs under short-term operating leases	3	235	22	379
Variable lease cost under short-term and long-term operating leases	130	113	280	301
Operating lease right-of-use asset impairment	0	0	36	1,189
Total operating lease cost	$ 2,124	$ 2,062	6,473	7,340
Cash paid for leases			6,440	5,979
Right-of-use assets recognized for new leases and amendments (non-cash)			$ 3,222	$ 204
Weighted average remaining lease term in years	4 years 5 months 15 days		4 years 5 months 15 days		5 years 7 days
Weighted average discount rate	2.70%		2.70%		2.30%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments After the Adoption of ASC 842 (Details) $ in Thousands	Aug. 31, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 2,013
2022	7,969
2023	7,833
2024	7,605
2025	4,885
Thereafter	2,811
Total lease payments	33,116
Less imputed interest	(1,837)
Present value of lease liabilities	$ 31,279

Common Stock Repurchases (Detai

Common Stock Repurchases (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Jan. 31, 2020	Nov. 30, 2019
Equity [Abstract]
Stock repurchase authorization					$ 250,000,000	$ 75,000,000
Common stock repurchased and retired (in shares)	0	0	800,000	400,000
Common stock repurchased and retired			$ 35,000,000	$ 20,000,000
Remaining authorized repurchase amount	$ 155,000,000		$ 155,000,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - metric	9 Months Ended	12 Months Ended
	Aug. 31, 2021	Nov. 30, 2020	Nov. 30, 2019
Long-Term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance metrics	2	2	2
Stock-based compensation award service period (in years)	3 years	3 years	3 years
Long-Term Incentive Plan (LTIP) | 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on market condition of total shareholder return			50.00%
Percentage of shares based on cumulative performance condition			50.00%
Cumulative performance condition			3 years
Long-Term Incentive Plan (LTIP) | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on market condition of total shareholder return		50.00%
Percentage of shares based on cumulative performance condition		50.00%
Cumulative performance condition		3 years
Long-Term Incentive Plan (LTIP) | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on market condition of total shareholder return	25.00%
Percentage of shares based on cumulative performance condition	75.00%
Cumulative performance condition	3 years
Market condition period	3 years
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	4 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	3 years

Stock-Based Compensation - Clas

Stock-Based Compensation - Classification of Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 6,839	$ 5,685	$ 21,985	$ 17,359
Cost of maintenance and services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	374	322	1,234	979
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,424	1,035	4,679	3,195
Product development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,848	1,693	6,179	5,518
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 3,193	$ 2,635	$ 9,893	$ 7,667

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Aug. 31, 2021	Nov. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 346,013	$ 330,282
Other comprehensive income before reclassifications, net of tax	2,419
Ending balance	396,773	346,013
Other comprehensive income (loss), tax	1,100	1,600
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(32,778)	(29,974)
Ending balance	(30,359)	(32,778)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(27,616)
Other comprehensive income before reclassifications, net of tax	922
Ending balance	(26,694)	(27,616)
Unrealized Gains on Investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	14
Other comprehensive income before reclassifications, net of tax	(54)
Ending balance	(40)	14
Unrealized Losses on Hedging Activity
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(5,176)
Other comprehensive income before reclassifications, net of tax	1,551
Ending balance	$ (3,625)	$ (5,176)

Revenue Recognition - Timing of

Revenue Recognition - Timing of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 147,417	$ 109,699	$ 391,185	$ 319,765
Software licenses
Disaggregation of Revenue [Line Items]
Total revenue	51,930	27,514	115,354	77,806
Software licenses | Performance obligations transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	51,930	27,514	115,354	77,806
Maintenance | Performance obligations transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	82,875	72,764	239,921	214,506
Services | Performance obligations transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	$ 12,612	$ 9,421	$ 35,910	$ 27,453

Revenue Recognition - Geographi

Revenue Recognition - Geographic Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 147,417	$ 109,699	$ 391,185	$ 319,765
North America
Disaggregation of Revenue [Line Items]
Total revenue	93,880	62,927	236,479	184,904
EMEA
Disaggregation of Revenue [Line Items]
Total revenue	40,999	37,447	122,560	106,592
Latin America
Disaggregation of Revenue [Line Items]
Total revenue	5,298	3,547	12,544	10,893
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,240	$ 5,778	$ 19,602	$ 17,376

Revenue Recognition - Unbilled

Revenue Recognition - Unbilled Receivables and Contract Assets (Details) $ in Thousands	Aug. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
2022	$ 4,710
2023	8,329
2024	2,717
2025	1,493
Total	$ 17,249

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	Aug. 31, 2021	Nov. 30, 2020
Disaggregation of Revenue [Line Items]
Contract asset	$ 6.9	$ 11.3
Deferred contract costs	$ 5.3	$ 2.5
Minimum
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization period	3 years
Maximum
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization period	5 years

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue (Details) $ in Thousands	9 Months Ended
	Aug. 31, 2021USD ($)
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 193,295
Billings and other	400,910
Revenue recognized	(391,185)
Ending balance	$ 203,020

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Millions	Aug. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 213.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Remaining performance obligation, percentage	81.00%

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Restructuring Reserve [Roll Forward]
Beginning Balance			$ 3,973
Costs incurred	$ 40	$ 91	1,133	$ 1,826
Cash disbursements			(5,087)
Translation adjustments and other			12
Ending Balance	31		31
Chef Restructuring Activities
Restructuring Reserve [Roll Forward]
Beginning Balance			3,523
Costs incurred	0		928
Cash disbursements			(4,431)
Translation adjustments and other			11
Ending Balance	31		31
Excess Facilities and Other Costs
Restructuring Reserve [Roll Forward]
Beginning Balance			421
Costs incurred			311
Cash disbursements			(733)
Translation adjustments and other			1
Ending Balance	0		0
Excess Facilities and Other Costs | Chef Restructuring Activities
Restructuring Reserve [Roll Forward]
Beginning Balance			0
Costs incurred			105
Cash disbursements			(105)
Translation adjustments and other			0
Ending Balance	0		0
Employee Severance and Related Benefits
Restructuring Reserve [Roll Forward]
Beginning Balance			3,552
Costs incurred			822
Cash disbursements			(4,354)
Translation adjustments and other			11
Ending Balance	31		31
Employee Severance and Related Benefits | Chef Restructuring Activities
Restructuring Reserve [Roll Forward]
Beginning Balance			3,523
Costs incurred			823
Cash disbursements			(4,326)
Translation adjustments and other			11
Ending Balance	$ 31		$ 31

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 40	$ 91	$ 1,133	$ 1,826
Chef Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	0		928
Restructuring and related cost, expected cost	$ 2,900		$ 2,900

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	22.00%	21.00%

Earnings per share - Calculatio

Earnings per share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 30,976	$ 23,977	$ 63,494	$ 62,061
Weighted average shares outstanding (in shares)	43,762	45,036	43,896	44,941
Dilutive impact from common stock equivalents (in shares)	740	328	646	441
Diluted weighted average shares outstanding (in shares)	44,502	45,364	44,542	45,382
Basic earnings per share (in dollars per share)	$ 0.71	$ 0.53	$ 1.45	$ 1.38
Diluted earnings per share (in dollars per share)	$ 0.70	$ 0.53	$ 1.43	$ 1.37

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Earnings Per Share [Abstract]
Number of shares excluded from the calculation of diluted earnings per share (in shares)	1,250	1,450	1,241	1,216

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	3 Months Ended
	Aug. 31, 2021	May 31, 2021
Segment Reporting [Abstract]
Number of operating segments	1	1

Subsequent Events - (Details)

Subsequent Events - (Details) $ in Millions	Sep. 23, 2021USD ($)
Subsequent Event | Kemp Technologies, Inc
Subsequent Event [Line Items]
Cash payments in business acquisition	$ 258