View Filing Data

Total cash, cash equivalents and short-term investments

$ 106,516

$ 105,126

Short-term investments

26,942

34,387

133,458

139,513

Accounts receivable (less allowances of $725 and $840, respectively)

54,572

59,715

2,121

1,421

Other current assets

19,757

25,080

Assets held for sale

5,776

Total current assets

215,684

231,505

Property and equipment, net

2,581

1,811

29,351

30,714

Intangible assets, net

50,297

58,919

Goodwill

315,010

314,992

889

966

2,079

5,243

Current portion of long-term debt, net

615,891

644,150

Current liabilities:

6,593

5,819

Accounts payable

9,823

10,593

Accrued compensation and related taxes

14,984

25,500

Dividends payable to shareholders

6,939

6,998

Income taxes payable

1,233

1,228

Other accrued liabilities

11,887

12,686

Total current liabilities

130,569

123,210

182,028

186,034

Long-term debt, net

108,042

110,270

11,614

12,730

Other noncurrent liabilities

2,665

5,799

4,840

5,315

Commitments and contingencies

Shareholders’ equity:

Preferred stock, $0.01 par value; authorized, 10,000,000 shares; issued, none

Common stock, $0.01 par value, and additional paid-in capital; authorized, 200,000,000 shares; issued and outstanding, 44,473,947 shares in 2019 and 45,114,935 shares in 2018

272,854

267,053

60,462

85,125

Total shareholders’ equity

(26,614)

(28,176)

306,702

324,002

^[2]

Allowance for accounts receivable (in dollars)

$ 615,891

$ 644,150

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

^[1]

Assets

$ 725

$ 840

Stockholders' Equity:

Preferred stock, par value (in dollars per share)

$ 0.01

Preferred stock, shares authorized (in shares)

1,000,000

Preferred stock, shares issued (in shares)

Common stock, par value (in dollars per share)

$ 0.01

Common stock, shares authorized (in shares)

200,000,000

Common stock, shares issued (in shares)

44,473,947

45,114,935

Common stock, shares outstanding (in shares)

44,473,947

45,114,935

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

^[1]

Revenue:

$ 89,549

$ 95,410

General and administrative

16,039

16,903

Gross profit

73,510

78,507

Operating expenses:

Sales and marketing

22,323

21,428

Product development

19,890

20,245

12,285

11,262

Amortization of acquired intangibles

3,188

3,319

Fees related to shareholder activist

1,258

Restructuring expenses

415

1,821

Acquisition-related expenses

58,101

59,376

Interest income and other, net

15,409

19,131

Other (expense) income:

Interest expense

(1,389)

(1,165)

229

408

Foreign currency loss, net

(843)

(828)

Total other expense, net

(2,003)

(1,585)

13,406

17,546

4,004

3,814

$ 9,402

$ 13,732

Earnings per share:

$ 0.21

$ 0.30

$ 0.21

$ 0.29

44,956

46,529

Cash dividends declared per common share (in dollars per share)

45,286

47,476

$ 0.155

$ 0.14

Revenue:

$ 22,802

$ 26,054

1,167

1,261

Maintenance and services

Revenue:

66,747

69,356

Amortization of acquired intangibles

9,439

9,824

Statement of Comprehensive Income [Abstract]

$ 5,433

$ 5,818

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

^[1]

Other comprehensive income, net of tax:

$ 9,402

$ 13,732

^[2]

Foreign currency translation adjustments

1,479

3,831

Unrealized gain (loss) on investments, net of tax provision of $30 and $39 for 2019 and 2018, respectively

(27)

Total other comprehensive income, net of tax

1,562

3,804

Comprehensive income

$ 10,964

$ 17,536

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Beginning balance (in shares) at Nov. 30, 2017

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

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

Condensed Consolidated Statements of Shareholders’ Equity - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-In Capital

Retained Earnings

Accumulated Other Comprehensive Loss

^[1]

47,281,000

Beginning balance at Nov. 30, 2017

^[1]

$ 411,349

$ 473

$ 249,363

$ 179,919

$ (18,406)

Issuance of stock under employee stock purchase plan (in shares)

48,000

Issuance of stock under employee stock purchase plan

1,095

Exercise of stock options (in shares)

23,000

Exercise of stock options

669

Stock-based compensation

4,570

Dividends declared

$ (6,482)

(6,482)

Treasury stock repurchases and retirements (in shares)

(1,100,000)

(1,054,000)

Treasury stock repurchases and retirements

$ (45,000)

$ (10)

(1,754)

(43,236)

Other comprehensive income

13,732

^[2],[3]

13,732

3,804

^[2]

3,804

Ending balance (in shares) at Feb. 28, 2018

^[1]

46,298,000

Ending balance at Feb. 28, 2018

^[1]

$ 383,737

$ 463

254,584

143,292

(14,602)

Beginning balance (in shares) at Nov. 30, 2018

45,114,935

^[4]

45,115,000

^[1]

Beginning balance at Nov. 30, 2018

^[1]

$ 324,002

^[4]

$ 451

266,602

85,125

(28,176)

Issuance of stock under employee stock purchase plan (in shares)

38,000

Issuance of stock under employee stock purchase plan

997

Exercise of stock options (in shares)

9,000

Exercise of stock options

268

Withholding tax payments related to net issuance of restricted stock units

(5)

Stock-based compensation

5,806

Dividends declared

$ (6,933)

(6,933)

Treasury stock repurchases and retirements (in shares)

(700,000)

(688,000)

Treasury stock repurchases and retirements

$ (25,000)

$ (5)

(1,260)

(23,735)

Other comprehensive income

9,402

$ 1,562

1,562

Ending balance (in shares) at Feb. 28, 2019

44,473,947

44,474,000

Ending balance at Feb. 28, 2019

$ 306,702

$ 446

$ 272,408

$ 60,462

$ (26,614)

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[3]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307
[4]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

^[2]

Cash flows from operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

$ 9,402

$ 13,732

^[1]

Depreciation and amortization of property and equipment

1,620

1,682

Amortization of acquired intangibles and other

8,866

9,620

Stock-based compensation

5,806

4,570

Loss on disposal of property and equipment

153

135

Deferred income taxes

(3,069)

137

Allowances for bad debt and sales credits

137

Changes in operating assets and liabilities:

Accounts receivable

3,861

8,667

Accounts payable and accrued liabilities

5,147

2,382

(13,128)

(17,830)

Income taxes payable

(246)

(290)

Deferred revenue

5,943

8,653

Net cash flows from operating activities

24,444

31,595

Cash flows from (used in) investing activities:

Purchases of investments

(750)

(7,374)

Sales and maturities of investments

8,155

6,816

Purchases of property and equipment

(246)

(1,386)

Net cash flows from (used in) investing activities

7,159

(1,944)

Cash flows used in financing activities:

Proceeds from stock-based compensation plans

1,894

2,469

Repurchases of common stock

(25,000)

(45,000)

Dividend payments to shareholders

(6,992)

(6,619)

Payment of principal on long-term debt

(1,547)

Net cash flows used in financing activities

(31,645)

(50,697)

Effect of exchange rate changes on cash

1,432

4,693

Net increase (decrease) in cash and cash equivalents

1,390

(16,353)

Cash and cash equivalents, beginning of period

^[3]

105,126

Cash and cash equivalents, end of period

106,516

Supplemental disclosure:

Cash paid for income taxes, net of refunds of $166 in 2019 and $307 in 2018

1,496

1,614

Cash paid for interest

1,169

942

Non-cash investing and financing activities:

Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested

Dividends declared

$ 6,939

$ 6,482

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307
[3]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

Statement of Cash Flows [Abstract]

Income tax refunds

$ 166

$ 307

^[1]

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Basis of Presentation

3 Months Ended

Feb. 28, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Company Overview - Progress Software Corporation ("Progress," the "Company," "we," "us," or "our") offers the leading platform for developing and deploying strategic business applications. We enable customers and partners to deliver modern, high-impact digital experiences with a fraction of the effort, time and cost. Progress offers powerful tools for easily building adaptive user experiences across any type of device or touchpoint, award-winning machine learning that enables cognitive capabilities to be a part of any application, the flexibility of a serverless cloud to deploy modern apps, business rules, web content management, plus leading data connectivity technology. Over 1,700 ISVs, 100,000 enterprise customers, and 2 million developers rely on Progress to power their applications.

Our products are generally sold as perpetual licenses, but certain products also use term licensing models and our cloud-based offerings use a subscription-based model. More than half of our worldwide license revenue is realized through relationships with indirect channel partners, principally application partners and original equipment manufacturers ("OEMs"). Application partners are ISVs that develop and market applications using our technology and resell our products in conjunction with sales of their own products that incorporate our technology. OEMs are companies that embed our products into their own software products or devices.

We operate in North America and Latin America (the "Americas"); Europe, the Middle East and Africa ("EMEA"); and the Asia Pacific region, through local subsidiaries as well as independent distributors.

Basis of Presentation and Significant Accounting Policies - We prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements and these unaudited financial statements should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018, ("Annual Report on Form 10-K for the fiscal year ended November 30, 2018").

We adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASC 606") effective December 1, 2018 using the full retrospective method, which required us to retroactively adjust comparative prior periods to conform to current presentation. See "Recently Adopted Accounting Pronouncements" below for further information.

We made no material changes in the application of our significant accounting policies that were disclosed in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018, except as discussed below with respect to our adoption of ASC 606. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2018, and these financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full fiscal year.

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an on-going basis, management evaluates its estimates and records changes in estimates in the period in which they become known. These estimates are based on historical data and experience, as well as various other assumptions that management believes to be reasonable under the circumstances. The most significant estimates relate to: the timing and amounts of revenue recognition, including the determination of the nature and timing of the satisfaction of performance obligations, the standalone selling price of performance obligations, and the transaction price allocated to performance obligations; the realization of tax assets and estimates of tax liabilities; fair values of investments in marketable securities; assets held for sale; intangible assets and goodwill valuations; the recognition and disclosure of contingent liabilities; the collectability of accounts receivable; and assumptions used to determine the fair value of stock-based compensation. Actual results could differ from those estimates.

Revenue Recognition

Revenue Policy

We derive our revenue primarily from software licenses and maintenance and services. Our license arrangements generally contain multiple performance obligations, including software maintenance services. Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We recognize revenue through the application of the following steps: (i) identification of the contract(s) with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to performance obligations in the contract; and (v) recognition of revenue when or as we satisfy the performance obligations. Sales taxes collected from customers and remitted to government authorities are excluded from revenue and we do not license our software with a right of return.

Software Licenses

Software licenses are on-premise and fully functional when made available to the customer. As the customer can use and benefit from the license on its own, on-premise software licenses represent distinct performance obligations. Revenue is recognized upfront at the point in time when control is transferred, which is defined as the point in time when the client can use and benefit from the license. Our licenses are sold as perpetual or term licenses, and the arrangements typically contain various combinations of maintenance and services, which are generally accounted for as separate performance obligations. We use the residual approach to allocate the transaction price to our software license performance obligations because, due to the pricing of our licenses being highly variable, they do not have an observable stand-alone selling price ("SSP"). As required, we evaluate the residual approach estimate compared to all available observable data in order to conclude the estimate is representative of its SSP.

Perpetual licenses are generally invoiced upon execution of the contract and payable within 30 days. Term licenses are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years. Any difference between the revenue recognized and the amount invoiced to the customer is recognized on our consolidated balance sheets as unbilled receivables until the customer is invoiced, at which point the amount is reclassed to accounts receivable.

Maintenance

Maintenance revenue is made up of technical support, bug fixes, and when-and-if available unspecified software upgrades. As these maintenance services are considered to be a series of distinct services that are substantially the same and have the same duration and measure of progress, we have concluded that they represent one combined performance obligation. Revenue is recognized ratably over the contract period. The SSP of maintenance services is a percentage of the net selling price of the related software license, which has remained within a tight range and is consistent with the stand-alone pricing of subsequent maintenance renewals.

Maintenance services are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years.

Services

Services revenue primarily includes consulting and customer education services. In general, services are distinct performance obligations. Services revenue is generally recognized as the services are delivered to the customer. We apply the practical expedient of recognizing revenue upon invoicing for time and materials-based arrangements as the invoiced amount corresponds to the value of the services provided. The SSP of services is based upon observable prices in similar transactions using the hourly rates sold in stand-alone services transactions. Services are either sold on a time and materials basis or prepaid upfront.

We also offer products via a software-as-a-service ("SaaS") model, which is a subscription-based model. Our customers can use hosted software over the contract period without taking possession of it and the cloud services are available to them throughout the entire term, even if they do not use the service. Revenue related to SaaS offerings is recognized ratably over the contract period. The SSP of SaaS performance obligations is determined based upon observable prices in stand-alone SaaS transactions. SaaS arrangements are generally invoiced in advance on a monthly, quarterly, or annual basis over the term of the arrangement, which is typically one to three years.

Arrangements with Multiple Performance Obligations

When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We allocate the transaction price to each performance obligation in a contract based on its relative SSP. Although we do not have a history of offering these elements, prior to allocating the transaction price to each performance obligation, we consider whether the arrangement has any discounts, material rights, or specified future upgrades that may represent additional performance obligations. Determining whether products and services are distinct performance obligations and the determination of the SSP may require significant judgment.

Contract Balances

Unbilled Receivables and Contract Assets

The timing of revenue recognition may differ from the timing of customer invoicing. When revenue is recognized prior to invoicing and the right to the amount due from customers is conditioned only on the passage of time, we record an unbilled receivable on our condensed consolidated balance sheets. Our multi-year term license arrangements, which are typically billed annually, result in revenue recognition in advance of invoicing and the recognition of unbilled receivables.

As of February 28, 2019, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands):



2020	$	1,048
2021	1,089
2022	444
Total	$	2,581

Contract assets, which arise when revenue is recognized prior to invoicing and the right to the amount due from customers is conditioned on something other than the passage of time, such as the completion of a related performance obligation, were minimal as of February 28, 2019 and November 30, 2018. These amounts are included in unbilled receivables or long-term unbilled receivables on our condensed consolidated balance sheets.

Deferred Revenue

Deferred revenue is recorded when revenue is recognized subsequent to customer invoicing. Our deferred revenue balance is primarily made up of deferred maintenance from our OpenEdge and Application Development and Deployment segments.

As of February 28, 2019, the changes in deferred revenue were as follows (in thousands):



Balance, December 1, 2018 As Adjusted⁽¹⁾	$	135,940
Billings and other	95,792
Revenue recognized	(89,549		)
Balance, February 28, 2019	$	142,183
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method.

Transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. As of February 28, 2019, transaction price allocated to remaining performance obligations was $143 million. We expect to recognize approximately 92% of the revenue within the next year and the remainder thereafter.

Deferred Contract Costs

Deferred contract costs, which include certain sales incentive programs, are incremental and recoverable costs of obtaining a contract with a customer. Incremental costs of obtaining a contract with a customer are recognized as an asset if the expected benefit of those costs are longer than one year. We have applied the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include a large majority of our sales incentive programs as we have determined that annual compensation is commensurate with annual sales activities.

Certain of our sales incentive programs do meet the requirements to be capitalized. Depending upon the sales incentive program and the related revenue arrangement, such capitalized costs are amortized over the longer of (i) the product life, which is generally three to five years; or (ii) the term of the related revenue contract. We determined that a three to five year product life represents the period of benefit that we receive from these incremental costs based on both qualitative and quantitative factors, which include customer contracts, industry norms, and product upgrades. Total deferred contract costs were minimal as of February 28, 2019 and November 30, 2018 and are included in other current assets and other assets on our condensed consolidated balance sheets. Amortization of deferred contract costs is included in sales and marketing expense on our condensed consolidated statement of operations and was minimal in all periods presented.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory ("ASU 2016-16"), which requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Under legacy GAAP, the recognition of current and deferred income taxes for an intra-entity transfer was prohibited until the asset has been sold to an outside party. We adopted this standard at the beginning of the first quarter of fiscal year 2019. Upon adoption, we reclassified approximately $3.4 million from non-current prepaid taxes, which is included in other assets on our consolidated balance sheet, to retained earnings as of December 1, 2018.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"). Under this standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. The standard also requires new disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and provides guidance on the recognition of costs related to obtaining customer contracts. We adopted this ASU effective December 1, 2018 in accordance with the full retrospective approach, which required us to retrospectively adjust certain previously reported results in the comparative prior periods presented. Upon adoption, we recorded a cumulative $31 million increase to our 2017 beginning retained earnings balance, a $15 million decrease to deferred revenue, a $28 million increase to unbilled receivables, and a $12 million increase to deferred tax liabilities.

The revenue recognition related to accounting for the following transactions is most impacted by our adoption of this standard:

•

Revenue from term licenses with extended payment terms over the term of the agreement within our Data Connectivity and Integration segment - Under the applicable revenue recognition guidance for fiscal years 2018 and prior, these transactions were recognized when the amounts were billed to the customer. In accordance with ASC 606, revenue from term license performance obligations is recognized upon delivery and revenue from maintenance performance obligations is expected to be recognized over the contract term. To the extent that we enter into these transactions, revenue from term licenses with extended payment terms will be recognized prior to the customer being billed and we will recognize an unbilled receivable on the balance sheet. Accordingly, the recognition of license revenue is accelerated under ASC 606 as we historically did not recognize revenue until the amounts had been billed to the customer.

•

Revenue from transactions with multiple elements within our Application Development and Deployment segment (i.e., sales of perpetual licenses with maintenance and/or support) - Under the applicable revenue recognition guidance for fiscal years 2018 and prior, these transactions were recognized ratably over the associated maintenance period as the Company did not have vendor specific objective evidence ("VSOE") for maintenance or support. Under ASC 606, the requirement to have VSOE for undelivered elements that existed under prior guidance is eliminated. Accordingly, the Company will recognize a portion of the sales price as revenue upon delivery of the license instead of recognizing the entire sales price ratably over the maintenance period.

The impact of the adoption of this standard on our previously reported consolidated balance sheets and consolidated statements of operations is as follows:

Consolidated Balance Sheets



	November 30, 2018
(in thousands)	As Reported			Adjustments			As Adjusted
Assets
Accounts receivable, net	$	58,450		$	1,265		$	59,715
Short-term unbilled receivables	—			1,421			1,421
Long-term unbilled receivables	—			1,811			1,811
Deferred tax assets	1,922			(956		)	966
Other assets⁽¹⁾	580,237			—			580,237
Total assets	$	640,609		$	3,541		$	644,150
Liabilities and shareholders’ equity
Short-term deferred revenue	133,194			(9,984		)	123,210
Long-term deferred revenue	15,127			(2,397		)	12,730
Deferred tax liabilities	3,797			2,002			5,799
Other liabilities⁽²⁾	178,409			—			178,409
Retained earnings	71,242			13,883			85,125
Accumulated other comprehensive loss	(28,213		)	37			(28,176		)
Other equity⁽³⁾	267,053			—			267,053
Total liabilities and shareholders’ equity	$	640,609		$	3,541		$	644,150
⁽¹⁾Includes cash and cash equivalents, short-term investments, other current assets, assets held for sale, property and equipment, net, intangible assets, net, goodwill, and other assets.
⁽²⁾Includes current portion of long-term debt, net, accounts payable, accrued compensation and related taxes, dividends payable, income taxes payable, other accrued liabilities, long-term debt, net, and other noncurrent liabilities.
⁽³⁾Includes common stock and additional paid-in capital.

Consolidated Statements of Income



	February 28, 2018
(in thousands)	As Reported			Adjustments		As Adjusted
Revenue:
Software licenses	$	25,343		$	711	$	26,054
Maintenance and services	68,704			652		69,356
Total revenue	94,047			1,363		95,410
Costs of revenue	16,903			—		16,903
Gross Profit	77,144			1,363		78,507
Operating expenses	59,376			—		59,376
Income from operations	17,768			1,363		19,131
Other expense, net	(1,585		)	—		(1,585		)
Income before income taxes	16,183			1,363		17,546
Provision for income taxes	3,271			543		3,814
Net income	$	12,912		$	820	$	13,732
Earnings per share:
Basic	$	0.28		$	0.02	$	0.30
Diluted	$	0.27		$	0.02	$	0.29
Weighted average shares outstanding:
Basic	46,529			—		46,529
Diluted	47,476			—		47,476

The adoption of ASC 606 had no impact on total cash from or used in operating, financing, or investing activities on our consolidated cash flow statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). ASU 2018-15 amends current guidance to align the accounting for costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs associated with developing or obtaining internal-use software. Capitalized implementation costs must be expensed over the term of the hosting arrangement and presented in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement. The guidance in ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, with early adoption permitted. We are currently accounting for costs incurred in a cloud computing arrangement in accordance with the guidance provided in ASU 2018-15.

In August 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12"). ASU 2017-12 intends to better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The amendments expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance in ASU 2017-12 is required for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the effect that implementation of this update will have upon adoption on our consolidated financial position and results of operations.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 amends Topic 350 to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. This update requires the performance of an annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. However, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance in ASU 2017-04 is required for annual reporting periods beginning after December 15, 2019, with early adoption permitted. We are currently considering whether to adopt this update prior to the required adoption date.

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) ("ASU 2016-02"), which requires lessees to record most leases on their balance sheets, recognizing a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The guidance in ASU 2016-02 is required for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We currently expect that most of our operating lease commitments will be subject to the update and recognized as operating lease liabilities and right-of-use assets upon adoption. However, we are currently evaluating the effect that implementation of this update will have upon adoption on our consolidated financial position and results of operations.

Cash, Cash Equivalents and Investments

3 Months Ended

Feb. 28, 2019

Investments and Cash [Abstract]

Cash, Cash Equivalents and Investments

A summary of our cash, cash equivalents and available-for-sale investments at February 28, 2019 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	94,904	$	—	$	—		$	94,904
Money market funds	11,612		—		—			11,612
State and municipal bond obligations	14,406		—		(58		)	14,348
U.S. treasury bonds	4,387		—		(8		)	4,379
Corporate bonds	8,246		—		(31		)	8,215
Total	$	133,555	$	—	$	(97	)	$	133,458

A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2018 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	101,316	$	—	$	—		$	101,316
Money market funds	3,810		—		—			3,810
State and municipal bond obligations	19,542		—		(119		)	19,423
U.S. treasury bonds	6,726		—		(21		)	6,705
Corporate bonds	8,329		—		(70		)	8,259
Total	$	139,723	$	—	$	(210	)	$	139,513

Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands):



	February 28, 2019				November 30, 2018
	Cash and Equivalents		Short-Term Investments		Cash and Equivalents		Short-Term Investments
Cash	$	94,904	$	—	$	101,316	$	—
Money market funds	11,612		—		3,810		—
State and municipal bond obligations	—		14,348		—		19,423
U.S. treasury bonds	—		4,379		—		6,705
Corporate bonds	—		8,215		—		8,259
Total	$	106,516	$	26,942	$	105,126	$	34,387

The fair value of debt securities by contractual maturity is as follows (in thousands):



	February 28, 2019		November 30, 2018
Due in one year or less	$	22,327	$	25,051
Due after one year ⁽¹⁾	4,615		9,336
Total	$	26,942	$	34,387


(1)	Includes state and municipal bond obligations and corporate bonds, which are securities representing investments available for current operations and are classified as current on the condensed consolidated balance sheets.

We did not hold any investments with continuous unrealized losses as of February 28, 2019 or November 30, 2018.

Derivative Instruments

3 Months Ended

Feb. 28, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

We generally use forward contracts that are not designated as hedging instruments to hedge economically the impact of the variability in exchange rates on intercompany accounts receivable and loans receivable denominated in certain foreign currencies. We generally do not hedge the net assets of our international subsidiaries.

All forward contracts are recorded at fair value on the consolidated balance sheets at the end of each reporting period and expire between 30 days and one year from the date the contract was entered. At February 28, 2019, $0.3 million was recorded in other current assets on the condensed consolidated balance sheets. At November 30, 2018, $0.3 million and $0.1 million was recorded in other noncurrent liabilities and other current assets, respectively, on the condensed consolidated balance sheets. In the three months ended February 28, 2019 and February 28, 2018, realized and unrealized gains of $0.7 million and $3.6 million, respectively, from our forward contracts were recognized in foreign currency loss, net on the condensed consolidated statements of operations. The gains were substantially offset by realized and unrealized losses on the offsetting positions.

The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands):



	February 28, 2019					November 30, 2018
	Notional Value		Fair Value			Notional Value		Fair Value
Forward contracts to sell U.S. dollars	$	63,904	$	324		$	105,830	$	(170	)
Forward contracts to purchase U.S. dollars	495		(2		)	240		—
Total	$	64,399	$	322		$	106,070	$	(170	)

Fair Value Measurements

3 Months Ended

Feb. 28, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Recurring Fair Value Measurements

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2019 (in thousands):



			Fair Value Measurements Using
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Money market funds	$	11,612	$	11,612	$	—	$	—
State and municipal bond obligations	14,348		—		14,348		—
U.S. treasury bonds	4,379		—		4,379		—
Corporate bonds	8,215		—		8,215		—
Foreign exchange derivatives	$	322	$	—	$	322	$	—

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2018 (in thousands):



				Fair Value Measurements Using
	Total Fair Value			Level 1		Level 2			Level 3
Assets
Money market funds	$	3,810		$	3,810	$	—		$	—
State and municipal bond obligations	19,423			—		19,423			—
U.S. treasury bonds	6,705			—		6,705			—
Corporate bonds	8,259			—		8,259			—
Liabilities
Foreign exchange derivatives	$	(170	)	$	—	$	(170	)	$	—

When developing fair value estimates, we maximize the use of observable inputs and minimize the use of unobservable inputs. When available, we use quoted market prices to measure fair value. The valuation technique used to measure fair value for our Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. If market prices are not available, the fair value measurement is based on models that use primarily market based parameters including yield curves, volatilities, credit ratings and currency rates. In certain cases where market rate assumptions are not available, we are required to make judgments about assumptions market participants would use to estimate the fair value of a financial instrument.

Nonrecurring Fair Value Measurements

During the fourth quarter of fiscal year 2018, certain assets were measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). Based on the fair value measurement, we recorded a $5.1 million asset impairment charge as of November 30, 2018 related to certain corporate land and building assets previously reported as property and equipment, net that we reclassified to assets held for sale on our consolidated balance sheet.

The following table presents nonrecurring fair value measurements as of November 30, 2018 (in thousands):



	Total Fair Value		Total Losses
Assets held for sale	$	5,776	$	5,147

The fair value measurement of the assets held for sale were measured using third-party valuation models and were determined using an income-based valuation methodology, which includes discounted expected cash flows. As the discounted cash flows represent unobservable inputs, the fair value was classified as a Level 3 measurement within the fair value hierarchy. The expected cash flows include proceeds from the sale, offset by the costs incurred to sell the assets.

We did not have any nonrecurring fair value measurements as of February 28, 2019.

Goodwill and Intangible Assets Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Intangible Assets and Goodwill

3 Months Ended

Feb. 28, 2019

Intangible Assets and Goodwill

Intangible Assets

Intangible assets are comprised of the following significant classes (in thousands):



	February 28, 2019							November 30, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
Purchased technology	$	146,501	$	(108,599	)	$	37,902	$	154,301	$	(110,959	)	$	43,342
Customer-related	67,642		(58,901		)	8,741		67,802		(56,589		)	11,213
Trademarks and trade names	17,740		(14,086		)	3,654		17,740		(13,376		)	4,364
Total	$	231,883	$	(181,586	)	$	50,297	$	239,843	$	(180,924	)	$	58,919

In the first quarter of fiscal years 2019 and 2018, amortization expense related to intangible assets was $8.6 million and $9.1 million, respectively.

Future amortization expense for intangible assets as of February 28, 2019 is as follows (in thousands):



Remainder of 2019	$	26,310
2020	10,152
2021	10,033
2022	3,802
Total	$	50,297

Goodwill

Changes in the carrying amount of goodwill in the three months ended February 28, 2019 are as follows (in thousands):



Balance, November 30, 2018	$	314,992
Translation adjustments	18
Balance, February 28, 2019	$	315,010

Changes in the goodwill balances by reportable segment in the three months ended February 28, 2019 are as follows (in thousands):



	November 30, 2018		Translation adjustments		February 28, 2019
OpenEdge	$	248,987	$	18	$	249,005
Data Connectivity and Integration	19,040		—		19,040
Application Development and Deployment	46,965		—		46,965
Total goodwill	$	314,992	$	18	$	315,010

During the quarter ending February 28, 2019, no triggering events occurred that would indicate that it is more likely than not that the carrying values of any of our reporting units exceeded their fair values.

Term Loan and Line of Credit

3 Months Ended

Feb. 28, 2019

Line of Credit Facility [Abstract]

Term Loan and Line of Credit

Our credit agreement provides for a $123.8 million secured term loan and a $150.0 million secured revolving credit facility. The revolving credit facility may be made available in U.S. Dollars and certain other currencies and may be increased by up to an additional $125.0 million if the existing or additional lenders are willing to make such increased commitments. The revolving credit facility has sublimits for swing line loans up to $25.0 million and for the issuance of standby letters of credit in a face amount up to $25.0 million. We expect to use the revolving credit facility for general corporate purposes, including acquisitions of other businesses, and may also use it for working capital.

The credit facility matures on November 20, 2022, when all amounts outstanding will be due and payable in full. The revolving credit facility does not require amortization of principal. The outstanding balance of the term loan as of February 28, 2019 was $116.0 million, with $7.0 million due in the next 12 months. The term loan requires repayment of principal at the end of each fiscal quarter, beginning with the fiscal quarter ended February 28, 2018. The principal repayment amounts are in accordance with the following schedule: (i) eight payments of $1.5 million each, (ii) four payments of $2.3 million each, (iii) four payments of $3.1 million each, (iv) three payments of $3.9 million each, and (v) the last payment is of the remaining principal amount. Any amounts outstanding under the term loan thereafter would be due on the maturity date. The term loan may be prepaid before maturity in whole or in part at our option without penalty or premium. As of February 28, 2019, the carrying value of the term loan approximates the fair value, based on Level 2 inputs (observable market prices in less than active markets), as the interest rate is variable over the selected interest period and is similar to current rates at which we can borrow funds. The interest rate of the credit facility as of February 28, 2019 was 4.00%.

Costs incurred to obtain our long-term debt of $1.8 million are recorded as debt issuance costs as a direct deduction from the carrying value of the debt liability on our condensed consolidated balance sheets as of February 28, 2019. These costs are being amortized over the term of the debt agreement using the effective interest rate method. Amortization expense related to the debt issuance costs of $0.1 million for the three months ended February 28, 2019 and February 28, 2018, respectively, is recorded in interest expense on our condensed consolidated statements of operations.

Revolving loans may be borrowed, repaid, and reborrowed until November 20, 2022, at which time all amounts outstanding must be repaid. As of February 28, 2019, there were no amounts outstanding under the revolving line and $1.3 million of letters of credit.

As of February 28, 2019, aggregate principal payments of long-term debt for the next five years are (in thousands):



Remainder of 2019	$	4,641
2020	9,281
2021	12,375
2022	89,719
Total	$	116,016

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

Stock-Based Compensation

3 Months Ended

Feb. 28, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Stock-based compensation expense reflects the fair value of stock-based awards, less the present value of expected dividends, measured at the grant date and recognized over the relevant service period. We estimate the fair value of each stock-based award on the measurement date using the current market price of the stock, the Black-Scholes option valuation model, or the Monte Carlo Simulation valuation model.

During fiscal year 2017, we granted performance-based restricted stock units that include a three-year market condition under a Long-Term Incentive Plan (“LTIP”) where the performance measurement period is three-years. Vesting of the LTIP awards is based on our level of attainment of specified total stockholder return ("TSR") targets relative to the percentage appreciation of a specified index of companies for the respective three-year periods and is also subject to the continued employment of the grantees. In order to estimate the fair value of such awards, we used a Monte Carlo Simulation valuation model.

During the first quarter of fiscal years 2018 and 2019, we granted performance-based restricted stock units that include two performance metrics under the LTIP where the performance measurement period is three years. Vesting of the 2018 and 2019 LTIP awards is as follows: (i) 50% is based on the three-year market condition as described above (TSR), and (ii) 50% is based on achievement of a three-year cumulative performance condition (operating income). In order to estimate the fair value of such awards, we used a Monte Carlo Simulation valuation model for the market condition portion of the award, and used the closing price of our common stock on the date of grant, less the present value of expected dividends, for the portion related to the performance condition.

The Black-Scholes and Monte Carlo Simulation valuation models incorporate assumptions as to stock price volatility, the expected life of options or awards, a risk-free interest rate and dividend yield. We recognize stock-based compensation expense related to options and restricted stock units on a straight-line basis over the service period of the award, which is generally 4 years for options and 3 years for restricted stock units. We recognize stock-based compensation expense related to our employee stock purchase plan using an accelerated attribution method.

The following table provides the classification of stock-based compensation as reflected in our condensed consolidated statements of operations (in thousands):



	Three Months Ended
	February 28, 2019		February 28, 2018
Cost of maintenance and services	$	244	$	246
Sales and marketing	1,048		370
Product development	1,928		2,046
General and administrative	2,586		1,908
Total stock-based compensation	$	5,806	$	4,570

Accumulated Other Comprehensive Loss

3 Months Ended

Feb. 28, 2019

Equity [Abstract]

Accumulated Other Comprehensive Loss

The following table summarizes the changes in accumulated balances of other comprehensive loss during the three months ended February 28, 2019 (in thousands):



	Foreign Currency Translation Adjustment			Unrealized (Losses) Gains on Investments			Accumulated Other Comprehensive (Loss) Income
Balance, December 1, 2018, as adjusted	$	(27,973	)	$	(203	)	$	(28,176	)
Other comprehensive income before reclassifications, net of tax	1,479			83			1,562
Balance, February 28, 2019	$	(26,494	)	$	(120	)	$	(26,614	)

The tax effect on accumulated unrealized (losses) gains on investments was minimal as of February 28, 2019 and November 30, 2018.

Restructuring Charges

3 Months Ended

Feb. 28, 2019

Restructuring Charges [Abstract]

Restructuring Charges

The following table provides a summary of activity for our restructuring actions, which are detailed further below (in thousands):



	Excess Facilities and Other Costs			Employee Severance and Related Benefits			Total
Balance, December 1, 2018	$	307		$	4		$	311
Costs incurred	411			4			415
Cash disbursements	(151		)	(8		)	(159		)
Translation adjustments and other	(84		)	—			(84		)
Balance, February 28, 2019	$	483		$	—		$	483

During fiscal year 2017, we undertook certain operational restructuring initiatives intended to significantly reduce annual costs. As part of this action, management committed to a new strategic plan highlighted by a new product strategy and a streamlined operating approach. To execute these operational restructuring initiatives, we reduced our global workforce by over 20%. These workforce reductions occurred in substantially all functional units and across all geographies in which we operate. We also consolidated offices in various locations during fiscal years 2017 and 2018 and the first quarter of fiscal year 2019. We expect to incur additional expenses related to facility closures as part of this restructuring action through fiscal year 2019, but we do not expect these additional costs to be material.

Restructuring expenses are related to employee costs, including severance, health benefits and outplacement services (but excluding stock-based compensation), facilities costs, which include fees to terminate lease agreements and costs for unused space, net of sublease assumptions, and other costs, which include asset impairment charges.

As part of this fiscal year 2017 restructuring, for the three months ended February 28, 2019, we incurred expenses of $0.4 million, which are recorded in restructuring expenses on the condensed consolidated statements of operations.

Cash disbursements for expenses incurred to date under this restructuring are expected to be made through fiscal year 2019. Accordingly, the balance of the restructuring reserve of $0.5 million is included in other accrued liabilities on the condensed consolidated balance sheet at February 28, 2019.

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

Earnings Per Share

3 Months Ended

Feb. 28, 2019

Business Segments and International Operations

Earnings Per Share

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):



	Three Months Ended
	February 28, 2019		February 28, 2018
			As Adjusted⁽¹⁾
Net income	$	9,402	$	13,732
Weighted average shares outstanding	44,956		46,529
Dilutive impact from common stock equivalents	330		947
Diluted weighted average shares outstanding	45,286		47,476
Basic earnings per share	$	0.21	$	0.30
Diluted earnings per share	$	0.21	$	0.29
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

We excluded stock awards representing approximately 911,000 shares and 344,000 shares of common stock from the calculation of diluted earnings per share in the three months ended February 28, 2019 and February 28, 2018, respectively, because these awards were anti-dilutive.

Business Segments and International Operations

3 Months Ended

Feb. 28, 2019

Segment Reporting [Abstract]

Operating segments are components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and assess performance. Our chief operating decision maker is our Chief Executive Officer.

We operate as three distinct business segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment.

We do not manage our assets or capital expenditures by segment or assign other income (expense) and income taxes to segments. We manage and report such items on a consolidated company basis.

The following table provides revenue and contribution margin from our reportable segments and reconciles to the consolidated income from continuing operations before income taxes:



	Three Months Ended
	February 28, 2019			February 28, 2018
(In thousands)				As Adjusted⁽¹⁾
Segment revenue:
OpenEdge	$	65,252		$	66,663
Data Connectivity and Integration	6,000			9,492
Application Development and Deployment	18,297			19,255
Total revenue	89,549			95,410
Segment costs of revenue and operating expenses:
OpenEdge	18,315			15,762
Data Connectivity and Integration	1,500			1,629
Application Development and Deployment	5,427			6,798
Total costs of revenue and operating expenses	25,242			24,189
Segment contribution margin:
OpenEdge	46,937			50,901
Data Connectivity and Integration	4,500			7,863
Application Development and Deployment	12,870			12,457
Total contribution margin	64,307			71,221
Other unallocated expenses⁽²⁾	48,898			52,090
Income from operations	15,409			19,131
Other expense, net	(2,003		)	(1,585		)
Income before income taxes	$	13,406		$	17,546
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
⁽²⁾The following expenses are not allocated to our segments as we manage and report our business in these functional areas on a consolidated basis only: certain product development and corporate sales and marketing expenses, customer support, administration, amortization of acquired intangibles, stock-based compensation, fees related to shareholder activist, restructuring, and acquisition-related expenses.

Our revenues are derived from licensing our products, and from related services, which consist of maintenance, hosting services, and consulting and education. Information relating to revenue from external customers by revenue type is as follows (in thousands):



	Three Months Ended
	February 28, 2019		February 28, 2018
(In thousands)			As Adjusted⁽¹⁾
Performance obligations transferred at a point in time:
Software licenses	$	22,802	$	26,054
Performance obligations transferred over time:
Maintenance	59,999		62,184
Services	6,748		7,172
Total revenue	$	89,549	$	95,410
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

In the following table, revenue attributed to North America includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from EMEA, Latin America and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows (in thousands):



	Three Months Ended
	February 28, 2019				February 28, 2018
(In thousands)					As Adjusted⁽¹⁾
North America	$	46,498	52	%	$	52,198	55	%
EMEA	33,372		37	%	33,296		35	%
Latin America	4,461		5	%	4,942		5	%
Asia Pacific	5,218		6	%	4,974		5	%
Total revenue	$	89,549	100	%	$	95,410	100	%
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

No single customer, partner, or country outside of the U.S. has accounted for more than 10% of our total revenue for the three months ended February 28, 2019 and February 28, 2018. As of February 28, 2019 and November 30, 2018, no individual customer accounted for 10% or more of our net accounts receivable balance. As of February 28, 2019 and November 30, 2018, no individual foreign country accounting for 10% or more of total consolidated assets.

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

Basis of Presentation (Policies)

3 Months Ended

Feb. 28, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Significant Accounting Policies

Use of Estimates

Revenue Recognition

Revenue Policy

Software Licenses

Maintenance

Maintenance services are generally invoiced in advance on an annual basis over the term of the arrangement, which is typically one to three years.

Services

Arrangements with Multiple Performance Obligations

Contract Balances

Unbilled Receivables and Contract Assets

As of February 28, 2019, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands):



2020	$	1,048
2021	1,089
2022	444
Total	$	2,581

Deferred Revenue

As of February 28, 2019, the changes in deferred revenue were as follows (in thousands):



Balance, December 1, 2018 As Adjusted⁽¹⁾	$	135,940
Billings and other	95,792
Revenue recognized	(89,549		)
Balance, February 28, 2019	$	142,183
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method.

Deferred Contract Costs

Recent Accounting Pronouncements

The adoption of ASC 606 had no impact on total cash from or used in operating, financing, or investing activities on our consolidated cash flow statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

The revenue recognition related to accounting for the following transactions is most impacted by our adoption of this standard:

•

Basis of Presentation (Tables)

3 Months Ended

Feb. 28, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Long Term Unbilled Receivables

As of February 28, 2019, invoicing of our long-term unbilled receivables is expected to occur as follows (in thousands):



2020	$	1,048
2021	1,089
2022	444
Total	$	2,581

As of February 28, 2019, the changes in deferred revenue were as follows (in thousands):



Balance, December 1, 2018 As Adjusted⁽¹⁾	$	135,940
Billings and other	95,792
Revenue recognized	(89,549		)
Balance, February 28, 2019	$	142,183
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The impact of the adoption of this standard on our previously reported consolidated balance sheets and consolidated statements of operations is as follows:

Consolidated Balance Sheets



	November 30, 2018
(in thousands)	As Reported			Adjustments			As Adjusted
Assets
Accounts receivable, net	$	58,450		$	1,265		$	59,715
Short-term unbilled receivables	—			1,421			1,421
Long-term unbilled receivables	—			1,811			1,811
Deferred tax assets	1,922			(956		)	966
Other assets⁽¹⁾	580,237			—			580,237
Total assets	$	640,609		$	3,541		$	644,150
Liabilities and shareholders’ equity
Short-term deferred revenue	133,194			(9,984		)	123,210
Long-term deferred revenue	15,127			(2,397		)	12,730
Deferred tax liabilities	3,797			2,002			5,799
Other liabilities⁽²⁾	178,409			—			178,409
Retained earnings	71,242			13,883			85,125
Accumulated other comprehensive loss	(28,213		)	37			(28,176		)
Other equity⁽³⁾	267,053			—			267,053
Total liabilities and shareholders’ equity	$	640,609		$	3,541		$	644,150
⁽¹⁾Includes cash and cash equivalents, short-term investments, other current assets, assets held for sale, property and equipment, net, intangible assets, net, goodwill, and other assets.
⁽²⁾Includes current portion of long-term debt, net, accounts payable, accrued compensation and related taxes, dividends payable, income taxes payable, other accrued liabilities, long-term debt, net, and other noncurrent liabilities.
⁽³⁾Includes common stock and additional paid-in capital.

Consolidated Statements of Income



	February 28, 2018
(in thousands)	As Reported			Adjustments		As Adjusted
Revenue:
Software licenses	$	25,343		$	711	$	26,054
Maintenance and services	68,704			652		69,356
Total revenue	94,047			1,363		95,410
Costs of revenue	16,903			—		16,903
Gross Profit	77,144			1,363		78,507
Operating expenses	59,376			—		59,376
Income from operations	17,768			1,363		19,131
Other expense, net	(1,585		)	—		(1,585		)
Income before income taxes	16,183			1,363		17,546
Provision for income taxes	3,271			543		3,814
Net income	$	12,912		$	820	$	13,732
Earnings per share:
Basic	$	0.28		$	0.02	$	0.30
Diluted	$	0.27		$	0.02	$	0.29
Weighted average shares outstanding:
Basic	46,529			—		46,529
Diluted	47,476			—		47,476

Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Feb. 28, 2019

Investments and Cash [Abstract]

Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments

A summary of our cash, cash equivalents and available-for-sale investments at February 28, 2019 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	94,904	$	—	$	—		$	94,904
Money market funds	11,612		—		—			11,612
State and municipal bond obligations	14,406		—		(58		)	14,348
U.S. treasury bonds	4,387		—		(8		)	4,379
Corporate bonds	8,246		—		(31		)	8,215
Total	$	133,555	$	—	$	(97	)	$	133,458

A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2018 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	101,316	$	—	$	—		$	101,316
Money market funds	3,810		—		—			3,810
State and municipal bond obligations	19,542		—		(119		)	19,423
U.S. treasury bonds	6,726		—		(21		)	6,705
Corporate bonds	8,329		—		(70		)	8,259
Total	$	139,723	$	—	$	(210	)	$	139,513

Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments by Balance Sheet Classification

Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands):



	February 28, 2019				November 30, 2018
	Cash and Equivalents		Short-Term Investments		Cash and Equivalents		Short-Term Investments
Cash	$	94,904	$	—	$	101,316	$	—
Money market funds	11,612		—		3,810		—
State and municipal bond obligations	—		14,348		—		19,423
U.S. treasury bonds	—		4,379		—		6,705
Corporate bonds	—		8,215		—		8,259
Total	$	106,516	$	26,942	$	105,126	$	34,387

Fair Value of Debt Securities by Contractual Maturity

The fair value of debt securities by contractual maturity is as follows (in thousands):



	February 28, 2019		November 30, 2018
Due in one year or less	$	22,327	$	25,051
Due after one year ⁽¹⁾	4,615		9,336
Total	$	26,942	$	34,387


(1)	Includes state and municipal bond obligations and corporate bonds, which are securities representing investments available for current operations and are classified as current on the condensed consolidated balance sheets.

Derivative Instruments (Tables)

3 Months Ended

Feb. 28, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Currency Forward Contracts

The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands):



	February 28, 2019					November 30, 2018
	Notional Value		Fair Value			Notional Value		Fair Value
Forward contracts to sell U.S. dollars	$	63,904	$	324		$	105,830	$	(170	)
Forward contracts to purchase U.S. dollars	495		(2		)	240		—
Total	$	64,399	$	322		$	106,070	$	(170	)

Fair Value Measurements, Financial Assets and Liabilities

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Fair Value Measurements (Tables)

3 Months Ended

Feb. 28, 2019

Fair Value Disclosures [Abstract]

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2019 (in thousands):



			Fair Value Measurements Using
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Money market funds	$	11,612	$	11,612	$	—	$	—
State and municipal bond obligations	14,348		—		14,348		—
U.S. treasury bonds	4,379		—		4,379		—
Corporate bonds	8,215		—		8,215		—
Foreign exchange derivatives	$	322	$	—	$	322	$	—

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2018 (in thousands):



				Fair Value Measurements Using
	Total Fair Value			Level 1		Level 2			Level 3
Assets
Money market funds	$	3,810		$	3,810	$	—		$	—
State and municipal bond obligations	19,423			—		19,423			—
U.S. treasury bonds	6,705			—		6,705			—
Corporate bonds	8,259			—		8,259			—
Liabilities
Foreign exchange derivatives	$	(170	)	$	—	$	(170	)	$	—

Fair Value Measurements, Nonrecurring

The following table presents nonrecurring fair value measurements as of November 30, 2018 (in thousands):



	Total Fair Value		Total Losses
Assets held for sale	$	5,776	$	5,147

Intangible Assets and Goodwill (Tables)

3 Months Ended

Feb. 28, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets are comprised of the following significant classes (in thousands):



	February 28, 2019							November 30, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
Purchased technology	$	146,501	$	(108,599	)	$	37,902	$	154,301	$	(110,959	)	$	43,342
Customer-related	67,642		(58,901		)	8,741		67,802		(56,589		)	11,213
Trademarks and trade names	17,740		(14,086		)	3,654		17,740		(13,376		)	4,364
Total	$	231,883	$	(181,586	)	$	50,297	$	239,843	$	(180,924	)	$	58,919

Schedule of Future Amortization Expense from Intangible Assets Held

Future amortization expense for intangible assets as of February 28, 2019 is as follows (in thousands):



Remainder of 2019	$	26,310
2020	10,152
2021	10,033
2022	3,802
Total	$	50,297

Schedule of Goodwill

Changes in the goodwill balances by reportable segment in the three months ended February 28, 2019 are as follows (in thousands):



	November 30, 2018		Translation adjustments		February 28, 2019
OpenEdge	$	248,987	$	18	$	249,005
Data Connectivity and Integration	19,040		—		19,040
Application Development and Deployment	46,965		—		46,965
Total goodwill	$	314,992	$	18	$	315,010

Changes in the carrying amount of goodwill in the three months ended February 28, 2019 are as follows (in thousands):



Balance, November 30, 2018	$	314,992
Translation adjustments	18
Balance, February 28, 2019	$	315,010

Term Loan and Line of Credit (Tables)

3 Months Ended

Feb. 28, 2019

Line of Credit Facility [Abstract]

Schedule of Maturities of Long-term Debt

As of February 28, 2019, aggregate principal payments of long-term debt for the next five years are (in thousands):



Remainder of 2019	$	4,641
2020	9,281
2021	12,375
2022	89,719
Total	$	116,016

Stock-Based Compensation (Tables)

3 Months Ended

Feb. 28, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Classification of Stock-Based Compensation

The following table provides the classification of stock-based compensation as reflected in our condensed consolidated statements of operations (in thousands):



	Three Months Ended
	February 28, 2019		February 28, 2018
Cost of maintenance and services	$	244	$	246
Sales and marketing	1,048		370
Product development	1,928		2,046
General and administrative	2,586		1,908
Total stock-based compensation	$	5,806	$	4,570

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Feb. 28, 2019

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated balances of other comprehensive loss during the three months ended February 28, 2019 (in thousands):



	Foreign Currency Translation Adjustment			Unrealized (Losses) Gains on Investments			Accumulated Other Comprehensive (Loss) Income
Balance, December 1, 2018, as adjusted	$	(27,973	)	$	(203	)	$	(28,176	)
Other comprehensive income before reclassifications, net of tax	1,479			83			1,562
Balance, February 28, 2019	$	(26,494	)	$	(120	)	$	(26,614	)

Restructuring Charges (Tables)

3 Months Ended

Feb. 28, 2019

Restructuring Charges [Abstract]

Summary of Restructuring Activity

The following table provides a summary of activity for our restructuring actions, which are detailed further below (in thousands):



	Excess Facilities and Other Costs			Employee Severance and Related Benefits			Total
Balance, December 1, 2018	$	307		$	4		$	311
Costs incurred	411			4			415
Cash disbursements	(151		)	(8		)	(159		)
Translation adjustments and other	(84		)	—			(84		)
Balance, February 28, 2019	$	483		$	—		$	483

Earnings Per Share (Tables)

3 Months Ended

Feb. 28, 2019

Calculation of Basic and Diluted Earnings Per Share

The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):



	Three Months Ended
	February 28, 2019		February 28, 2018
			As Adjusted⁽¹⁾
Net income	$	9,402	$	13,732
Weighted average shares outstanding	44,956		46,529
Dilutive impact from common stock equivalents	330		947
Diluted weighted average shares outstanding	45,286		47,476
Basic earnings per share	$	0.21	$	0.30
Diluted earnings per share	$	0.21	$	0.29
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Business Segments and International Operations (Tables)

3 Months Ended

Feb. 28, 2019

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table provides revenue and contribution margin from our reportable segments and reconciles to the consolidated income from continuing operations before income taxes:



	Three Months Ended
	February 28, 2019			February 28, 2018
(In thousands)				As Adjusted⁽¹⁾
Segment revenue:
OpenEdge	$	65,252		$	66,663
Data Connectivity and Integration	6,000			9,492
Application Development and Deployment	18,297			19,255
Total revenue	89,549			95,410
Segment costs of revenue and operating expenses:
OpenEdge	18,315			15,762
Data Connectivity and Integration	1,500			1,629
Application Development and Deployment	5,427			6,798
Total costs of revenue and operating expenses	25,242			24,189
Segment contribution margin:
OpenEdge	46,937			50,901
Data Connectivity and Integration	4,500			7,863
Application Development and Deployment	12,870			12,457
Total contribution margin	64,307			71,221
Other unallocated expenses⁽²⁾	48,898			52,090
Income from operations	15,409			19,131
Other expense, net	(2,003		)	(1,585		)
Income before income taxes	$	13,406		$	17,546
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
⁽²⁾The following expenses are not allocated to our segments as we manage and report our business in these functional areas on a consolidated basis only: certain product development and corporate sales and marketing expenses, customer support, administration, amortization of acquired intangibles, stock-based compensation, fees related to shareholder activist, restructuring, and acquisition-related expenses.

Revenue from External Customers by Products and Services



	Three Months Ended
	February 28, 2019		February 28, 2018
(In thousands)			As Adjusted⁽¹⁾
Performance obligations transferred at a point in time:
Software licenses	$	22,802	$	26,054
Performance obligations transferred over time:
Maintenance	59,999		62,184
Services	6,748		7,172
Total revenue	$	89,549	$	95,410
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Revenue from External Customers from Different Geographical Areas



	Three Months Ended
	February 28, 2019				February 28, 2018
(In thousands)					As Adjusted⁽¹⁾
North America	$	46,498	52	%	$	52,198	55	%
EMEA	33,372		37	%	33,296		35	%
Latin America	4,461		5	%	4,942		5	%
Asia Pacific	5,218		6	%	4,974		5	%
Total revenue	$	89,549	100	%	$	95,410	100	%
⁽¹⁾The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Basis of Presentation - Narrative (Details)
enterprise_customer in Thousands, $ in Thousands, developer in Millions

3 Months Ended

Feb. 28, 2019

USD ($)

enterprise_customer

developer

software_vendor

Dec. 01, 2018

USD ($)

Nov. 30, 2018

USD ($)

Nov. 30, 2016

USD ($)

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Number of independent software vendors | software_vendor

1,700

Number of enterprise customers | enterprise_customer

100

Number of developers | developer

Remaining performance obligation

$ 143,000

Reclassification from non-current prepaid taxes included in other assets

(2,079)

$ (5,243)

^[1]

Decrease in deferred revenue

60,462

85,125

^[1]

(142,183)

(135,940)

Increase to accumulated other comprehensive loss

$ 26,614

$ 28,176

^[1]

Accounting Standards Update 2016-16

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Reclassification from non-current prepaid taxes included in other assets

$ 3,400

Accounting Standards Update 2014-09

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Decrease in deferred revenue

$ 31,000

15,000

Increase in unbilled receivables

28,000

Increase to accumulated other comprehensive loss

$ 12,000

Minimum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Capitalized contract cost, amortization period

3 years

Maximum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Capitalized contract cost, amortization period

5 years

Maintenance | Minimum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Remaining performance obligation, expected timing of satisfaction, period

1 year

Maintenance | Maximum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Remaining performance obligation, expected timing of satisfaction, period

3 years

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Period of payments of licenses upon execution of contract

30 days

Software licenses | Minimum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Remaining performance obligation, expected timing of satisfaction, period

1 year

Software licenses | Maximum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Remaining performance obligation, expected timing of satisfaction, period

3 years

Services | Minimum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Remaining performance obligation, expected timing of satisfaction, period

1 year

Services | Maximum

Organization, Consolidation And Presentation Of Financial Statements [Line Items]

Remaining performance obligation, expected timing of satisfaction, period

3 years

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

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

Basis of Presentation - Schedule of Long Term Unbilled Receivables (Details) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

^[1]

Organization, Consolidation and Presentation of Financial Statements [Abstract]

$ 1,048

1,089

444

$ 2,581

$ 1,811

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

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

Basis of Presentation - Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

Nov. 30, 2016

Assets

Accounts receivable, net

$ 54,572

$ 59,715

^[1]

2,121

1,421

^[1]

2,581

1,811

^[1]

889

966

^[1]

580,237

615,891

644,150

^[1]

130,569

123,210

^[1]

11,614

12,730

^[1]

2,665

5,799

^[1]

Other liabilities

178,409

60,462

85,125

^[1]

(26,614)

(28,176)

^[1]

Other equity

267,053

$ 615,891

644,150

^[1]

As Adjusted

Assets

Accounts receivable, net

58,450

1,922

580,237

640,609

133,194

15,127

3,797

Other liabilities

178,409

71,242

(28,213)

Other equity

267,053

Accounting Standards Update 2014-09

640,609

$ 31,000

Accounting Standards Update 2014-09 | Adjustments

$ (12,000)

Assets

Accounts receivable, net

1,265

1,421

1,811

(956)

3,541

(9,984)

(2,397)

2,002

Other liabilities

13,883

Other equity

$ 3,541

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Basis of Presentation - Consolidated Income Statement (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

Revenue:

$ 89,549

$ 95,410

^[1]

16,039

16,903

^[1]

Gross Profit

73,510

78,507

^[1]

58,101

59,376

^[1]

15,409

19,131

^[1]

(2,003)

(1,585)

^[1]

13,406

17,546

^[1]

4,004

3,814

^[1]

$ 9,402

$ 13,732

^[1]

$ 0.21

$ 0.30

^[1]

$ 0.21

$ 0.29

^[1]

44,956

46,529

^[1]

45,286

47,476

^[1]

Revenue:

$ 22,802

$ 26,054

^[1]

1,167

1,261

^[1]

Maintenance and services

Revenue:

66,747

69,356

^[1]

$ 9,439

9,824

^[1]

Revenue:

94,047

16,903

77,144

59,376

17,768

(1,585)

16,183

3,271

$ 12,912

$ 0.28

$ 0.27

46,529

As Adjusted | Software licenses

47,476

Revenue:

As Adjusted | Maintenance and services

$ 25,343

Revenue:

Accounting Standards Update 2014-09 | Adjustments

68,704

Revenue:

1,363

Gross Profit

1,363

1,363

1,363

543

$ 820

$ 0.02

$ 0.02

Accounting Standards Update 2014-09 | Adjustments | Software licenses

Revenue:

Accounting Standards Update 2014-09 | Adjustments | Maintenance and services

$ 711

Revenue:

Cash, Cash Equivalents and Investments [Line Items]

$ 652

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Cash, Cash Equivalents and Investments (Summary Of Cash, Cash Equivalents And Trading And Available-For-Sale Investments) (Details) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

Feb. 28, 2017

^[2]

Nov. 30, 2016

^[2]

$ 106,516

$ 105,126

^[1]

$ 117,111

$ 133,464

Total Amortized Cost Basis

(97)

(210)

133,555

139,723

Total Fair Value

133,458

139,513

State and municipal bond obligations

Cash, Cash Equivalents and Investments [Line Items]

Amortized Cost Basis

14,406

19,542

Cash, Cash Equivalents and Investments [Line Items]

(58)

(119)

Fair Value

14,348

19,423

U.S. treasury bonds

Amortized Cost Basis

4,387

6,726

Cash, Cash Equivalents and Investments [Line Items]

(8)

(21)

Fair Value

4,379

6,705

Corporate bonds

Amortized Cost Basis

8,246

8,329

Cash, Cash Equivalents and Investments [Line Items]

(31)

(70)

Fair Value

8,215

8,259

Cash

Cash, Cash Equivalents and Investments [Line Items]

94,904

101,316

Money market funds

Cash, Cash Equivalents and Investments [Line Items]

$ 11,612

$ 3,810

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

Cash, Cash Equivalents and Investments (Summary of Cash, Cash Equivalents and Trading and Available-for-sale Investments by Balance Sheet Classification) (Details) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

Feb. 28, 2017

^[2]

Nov. 30, 2016

^[2]

Cash and Equivalents

$ 106,516

$ 105,126

^[1]

$ 117,111

$ 133,464

State and municipal bond obligations

26,942

34,387

^[1]

Cash, Cash Equivalents and Investments [Line Items]

Cash, Cash Equivalents and Investments [Line Items]

14,348

19,423

U.S. treasury bonds

Cash, Cash Equivalents and Investments [Line Items]

4,379

6,705

Corporate bonds

Cash, Cash Equivalents and Investments [Line Items]

8,215

8,259

Cash

Cash and Equivalents

94,904

101,316

Money market funds

Cash, Cash Equivalents and Investments [Line Items]

Cash and Equivalents

$ 11,612

$ 3,810

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information. February 28, 2019February 28, 2018Income tax refunds166307

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

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

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

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

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

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

Intangible Assets and Goodwill (Schedule Of Intangible Assets) (Details) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

$ 231,883

$ 239,843

(181,586)

(180,924)

50,297

58,919

^[1]

Purchased technology

146,501

154,301

(108,599)

(110,959)

37,902

43,342

Customer-related

67,642

67,802

(58,901)

(56,589)

Trademarks and trade names

8,741

11,213

17,740

(14,086)

(13,376)

Goodwill and Intangible Assets Disclosure [Abstract]

$ 3,654

$ 4,364

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

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

Intangible Assets and Goodwill (Schedule Of Future Amortization Expense From Intangible Assets Held) (Details) - USD ($)
$ in Thousands

Feb. 28, 2019

Nov. 30, 2018

^[1]

$ 26,310

10,152

10,033

3,802

$ 50,297

$ 58,919

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Intangible Assets and Goodwill (Schedule of Goodwill) (Details)
$ in Thousands

3 Months Ended

Feb. 28, 2019

USD ($)

$ 314,992

^[1]

315,010

OpenEdge

248,987

Data Connectivity and Integration

249,005

19,040

Application Development and Deployment

19,040

46,965

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

$ 46,965

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

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

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

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

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

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

Accumulated Other Comprehensive Loss (Details)
$ in Thousands

3 Months Ended

Feb. 28, 2019

USD ($)

Other comprehensive income before reclassifications, net of tax

$ 324,002

^[1],[2]

1,562

Accumulated Other Comprehensive Loss

306,702

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

(28,176)

^[2]

Foreign Currency Translation Adjustment

(26,614)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other comprehensive income before reclassifications, net of tax

(27,973)

1,479

Unrealized (Losses) Gains on Investments

(26,494)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other comprehensive income before reclassifications, net of tax

(203)

Restructuring Reserve [Roll Forward]

$ (120)

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.
[2]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Restructuring Charges (Summary of Restructuring Activity) (Details) - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

^[1]

Beginning Balance

$ 311

Costs incurred

415

$ 1,821

Cash disbursements

(159)

Translation adjustments and other

(84)

Excess Facilities and Other Costs

Restructuring Reserve [Roll Forward]

Beginning Balance

307

Costs incurred

411

Cash disbursements

(151)

Translation adjustments and other

(84)

Ending Balance

483

Employee Severance and Related Benefits

Restructuring Reserve [Roll Forward]

Beginning Balance

Costs incurred

Cash disbursements

(8)

Translation adjustments and other

Ending Balance

$ 0

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Restructuring Charges (Narrative) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Feb. 28, 2019

Feb. 28, 2018

^[1]

Nov. 30, 2017

Nov. 30, 2018

Restructuring Cost and Reserve [Line Items]

Global workforce reduction (as a percent)

20.00%

Restructuring expenses

$ 415

$ 1,821

Restructuring reserve

$ 311

Other Accrued Liabilities

Restructuring Cost and Reserve [Line Items]

Restructuring reserve

$ 483

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

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

Earnings Per Share (Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

Weighted average shares outstanding (in shares)

$ 9,402

$ 13,732

^[1]

44,956

46,529

^[1]

Dilutive impact from common stock equivalents (in shares)

330

947

Diluted weighted average shares outstanding (in shares)

45,286

47,476

^[1]

Basic earnings per share (in dollars per share)

$ 0.21

$ 0.30

^[1]

Diluted earnings per share (in dollars per share)

$ 0.21

$ 0.29

^[1]

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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+ Details

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

+ Details

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

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

Business Segments and International Operations (Income from Continuing Operations by Segment) (Details) - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

$ 89,549

$ 95,410

^[1]

25,242

24,189

Other unallocated expenses

64,307

71,221

48,898

52,090

15,409

19,131

^[1]

(2,003)

(1,585)

^[1]

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

13,406

17,546

^[1]

OpenEdge

65,252

66,663

18,315

15,762

Data Connectivity and Integration

46,937

50,901

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

6,000

9,492

1,500

1,629

Application Development and Deployment

4,500

7,863

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

18,297

19,255

5,427

6,798

$ 12,870

$ 12,457

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Business Segments and International Operations (Revenue from External Customers by Product) (Details) - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

$ 89,549

$ 95,410

^[1]

Transferred at Point in Time | Software licenses

22,802

26,054

^[1]

Transferred over Time | Maintenance

22,802

26,054

Transferred over Time | Services

59,999

62,184

$ 6,748

$ 7,172

[1]	The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.

Business Segments and International Operations (Revenue from External Customers from Different Geographical Areas) (Details) - USD ($)
$ in Thousands

3 Months Ended

Feb. 28, 2019

Feb. 28, 2018

$ 89,549

$ 95,410

^[1]

North America

46,498

52,198

EMEA

33,372

33,296

Latin America

4,461

4,942

Asia Pacific

Geographic Concentration Risk | Revenue from Contract with Customer

$ 5,218

$ 4,974

Geographic Concentration Risk | Revenue from Contract with Customer | North America

100.00%

Geographic Concentration Risk | Revenue from Contract with Customer | EMEA

52.00%

55.00%

Geographic Concentration Risk | Revenue from Contract with Customer | Latin America

37.00%

35.00%

Geographic Concentration Risk | Revenue from Contract with Customer | Asia Pacific

5.00%