Stockholders' Equity (Tables)

12 Months Ended

Nov. 30, 2020

Stockholders' Equity

Schedule of basic and diluted per share results

	For the Fiscal Years Ended
	Nov. 30, 2020		Nov. 30, 2019		Nov. 30, 2018
Net (loss) income	$	(12,717)	$	3,668	$	(1,653)
Weighted average shares outstanding for computation of basic per share results		5,259,000		5,070,000		5,023,000
Incremental shares from assumed exercise of stock options (a)		—		36,000		—
Adjusted weighted average shares for computation of diluted per share results		5,259,000		5,106,000		5,023,000

(a) Incremental shares from the assumed exercise of INDUS stock options are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options for fiscal 2020 and 2018 would have been 64,000 and 57,000 shares, respectively. For fiscal 2020, there was a Warrant for the purchase of 504,590 shares of Common Stock that was anti-dilutive.

Schedule of options granted by INDUS under the Stock Option Plan to non-employee directors

	For the Fiscal Years Ended
	Nov. 30, 2020			Nov. 30, 2019			Nov. 30, 2018
		Fair Value per			Fair Value per			Fair Value per
	Number of	Option at		Number of	Option at		Number of	Option at
	Shares	Grant Date		Shares	Grant Date		Shares	Grant Date
Non-employee directors	111,258	$	11.00 - 14.17	5,946	$	12.87	5,195	$	14.41

Schedule of assumptions used in determining fair values of options

	For the Fiscal Years Ended
	Nov. 30, 2020		Nov. 30, 2019		Nov. 30, 2018
Expected volatility	29.7 - 30.3	%	30.9	%	30.5	%
Risk free interest rates	0.5 - 0.9	%	2.3	%	3.0	%
Expected option term (in years)	8.5		8.5		8.5
Annual dividend yield	1.3	%	1.2	%	1.1	%

Schedule of option holders

Schedule of compensation expense and related tax benefits for stock options

	For the Fiscal Years Ended
	Nov. 30, 2020		Nov. 30, 2019		Nov. 30, 2018
Compensation expense	$	510	$	261	$	350
Related tax benefit	$	—	$	43	$	53

Schedule of unrecognized compensation expense related to nonvested stock options

Fiscal 2021	$	442
Fiscal 2022	$	377
Fiscal 2023	$	244
Fiscal 2024	$	120
Fiscal 2025	$	23

Summary of the activity under the INDUS Stock Option Plan

		Weighted Avg.
	Options	Exercise Price
Outstanding at November 30, 2017	333,762	$	29.22
Granted	5,195	$	38.48
Exercised	(94,677)	$	31.18
Forfeited	(20,279)	$	33.78
Outstanding at November 30,  2018	224,001	$	28.20
Granted	5,946	$	36.99
Exercised	(32,337)	$	28.57
Forfeited	(7,788)	$	32.62
Outstanding at November 30,  2019	189,822	$	28.23
Granted	111,258	$	45.72
Exercised	(54,930)	$	28.58
Outstanding at November 30,  2020	246,150	$	36.06

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Outstanding Options	November 30, 2020	Exercise Price		(in years)	Value
$23.00 - $28.00	106,304	$	26.80	5.3	$	4,726
$28.00 - $32.00	16,616	$	30.08	4.4		684
$32.00 - $47.00	123,230	$	44.84	9.1		3,255
	246,150	$	36.06	7.1	$	8,665
Vested options	99,980	$	28.49	5.3	$	4,276

Schedule of accumulated other comprehensive income (loss)

Balance at November 30, 2017	$	(284)
Other comprehensive income before reclassifications		2,242
Amounts reclassified		473
Adoption of ASU No. 2018-02 - reclassification of deferred taxes to retained earnings		(36)
Net activity for other comprehensive loss		2,679
Balance at November 30, 2018		2,395
Other comprehensive loss before reclassifications		(5,560)
Amounts reclassified		24
Net activity for other comprehensive income		(5,536)
Balance at November 30, 2019		(3,141)
Other comprehensive income before reclassifications		(6,348)
Amounts reclassified		1,438
Net activity for other comprehensive loss		(4,910)
Balance at November 30, 2020	$	(8,051)

Schedule of components of accumulated other comprehensive income (loss)

	For the Fiscal Years Ended
	November 30, 2020						November 30, 2019						November 30, 2018
			Tax						Tax						Tax
			(Expense)						(Expense)						(Expense)
	Pre-Tax		Benefit		Net-of-Tax		Pre-Tax		Benefit		Net-of-Tax		Pre-Tax		Benefit		Net-of-Tax
Reclassification included in net (loss) income:
Loss on cash flow hedges (interest expense)	$	1,438	$	—	$	1,438	$	32	$	(8)	$	24	$	636	$	(163)	$	473
Change in other comprehensive loss:
Decrease (increase) in fair value of INDUS’s cash flow hedges		(6,348)		—		(6,348)		(7,154)		1,594		(5,560)		2,876		(634)		2,242
Total other comprehensive (loss) income	$	(4,910)	$	—	$	(4,910)	$	(7,122)	$	1,586	$	(5,536)	$	3,512	$	(797)	$	2,715