Fair Value Measurements (Tables)
 6 Months Ended
May 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value Measurements within the Fair Value Hierarchy of the Financial Assets
The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at May 31, 2016 (in thousands):
 
 
 
 
Fair Value Measurements Using
 
Total Fair
Value
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
Money market funds
$
5,535

 
$
5,535

 
$
—

 
$
—

State and municipal bond obligations
39,587

 
—

 
39,587

 
—

U.S. treasury bonds
4,652

 
—

 
4,652

 
—

U.S. government agency bonds
1,633

 
—

 
1,633

 
—

Corporate bonds
3,504

 
—

 
3,504

 
—

Liabilities
 
 
 
 
 
 
 
Foreign exchange derivatives
$
(3,649
)
 
$
—

 
$
(3,649
)
 
$
—


The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2015 (in thousands):
 
 
 
 
Fair Value Measurements Using
 
Total Fair
Value
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
Money market funds
$
26,138

 
$
26,138

 
$
—

 
$
—

State and municipal bond obligations
20,417

 
—

 
20,417

 
—

U.S. treasury bonds
3,094

 
—

 
3,094

 
—

U.S. government agency bonds
1,641

 
—

 
1,641

 
—

Corporate bonds
3,748

 
—

 
3,748

 
—

Liabilities
 
 
 
 
 
 
 
Foreign exchange derivatives
$
(4,021
)
 
$
—

 
$
(4,021
)
 
$
—
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table reflects the activity for our liabilities measured at fair value using Level 3 inputs, which relate to a contingent consideration obligation in connection with a prior acquisition, for each period presented (in thousands):

 
Three Months Ended
 
Six Months Ended
 
May 31,
2016
 
May 31,
2015
 
May 31,
2016
 
May 31,
2015
Balance, beginning of period
$
—

 
$
1,615

 
$
—

 
$
1,717

Changes in fair value of contingent consideration obligation
—

 
(1,111
)
 
—

 
(1,213
)
Transfer to Level 2 fair value measurement
—

 
(209
)
 
—

 
(209
)
Balance, end of period
$
—

 
$
295

 
$
—

 
$
295