v3.24.4
Stock-Based Compensation (Tables)
 12 Months Ended
Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity under all the plans is as follows: 
 Shares
(in thousands)		Weighted Average Exercise PriceWeighted Average Remaining Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Options outstanding, December 1, 20232,052 $44.09 
Granted266 58.11 
Exercised(379)44.78 
Canceled(113)47.54 
Options outstanding, November 30, 20241,826 $45.89 3.8$40,435 
Exercisable, November 30, 20241,133 $43.27 3.1$28,042 
Vested or expected to vest, November 30, 20241,826 $45.89 3.8$40,435 
Schedule of Status of Restricted Stock Units
A summary of restricted stock units' activity is as follows:
 
(in thousands, except per share data)Number of SharesWeighted Average Fair Value
Restricted stock units outstanding, December 1, 20231,307 $49.27 
Granted979 56.70 
Issued(796)48.49 
Canceled(88)53.60 
Restricted stock units outstanding, November 30, 20241,402 $54.62 
Schedule of Valuation Assumptions
We estimated the fair value of stock options and ESPP awards granted in fiscal years 2024, 2023, and 2022 on the measurement dates using the Black-Scholes option valuation model, and LTIP awards using the Monte Carlo Simulation valuation model, with the following weighted average assumptions:
 
Fiscal Year Ended
November 30, 2024November 30, 2023November 30, 2022
Stock options:
Expected volatility27.3 %30.6 %31.0 %
Risk-free interest rate4.1 %3.5 %1.9 %
Expected life (in years)4.84.84.8
Expected dividend yield1.2 %1.4 %1.6 %
Employee stock purchase plan:
Expected volatility24.5 %26.9 %31.8 %
Risk-free interest rate4.7 %4.9 %2.4 %
Expected life (in years)1.21.21.2
Expected dividend yield1.3 %1.3 %1.5 %
Long-term incentive plan:
Expected volatility26.9 %31.4 %35.1 %
Risk-free interest rate4.1 %3.8 %1.3 %
Expected life (in years)2.82.92.9
Expected dividend yield— %— %— %
Schedule of Stock Options and Stock Awards Activity
The following additional activity occurred under our plans:
 
Fiscal Year Ended
(in thousands)November 30, 2024November 30, 2023November 30, 2022
Total intrinsic value of stock options on date exercised$7,471 $12,171 $1,717 
Total fair value of deferred stock units on date vested$1,600 $2,260 $2,029 
Total fair value of restricted stock units on date vested$47,145 $33,402 $25,597 
Schedule of Classification of Stock-Based Compensation
The following table provides the classification of stock-based compensation as reflected in our consolidated statements of operations:
 
Fiscal Year Ended
(in thousands)November 30, 2024November 30, 2023November 30, 2022
Cost of maintenance and services$3,540 $2,976 $1,969 
Sales and marketing8,964 6,797 4,884 
Product development13,551 12,214 10,326 
General and administrative20,701 18,542 19,915 
Total stock-based compensation$46,756 $40,529 $37,094 
Income tax benefit included in the provision for income taxes$10,091 $9,355 $6,344