Derivatives and Hedging Activities (Tables)

9 Months Ended

Aug. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The fair value of derivative instruments on our Condensed Consolidated Balance Sheets as of August 30, 2013 and November 30, 2012 were as follows (in thousands):



	2013				2012
	Fair Value Asset Derivatives⁽¹⁾		Fair Value Liability Derivatives⁽²⁾		Fair Value Asset Derivatives⁽¹⁾		Fair Value Liability Derivatives⁽²⁾
Derivatives designated as hedging instruments:
Foreign exchange option contracts⁽³⁾	$	9,849	$	—	$	10,897	$	—
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	2,337		1,420		2,616		998
Total derivatives	$	12,186	$	1,420	$	13,513	$	998

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⁽¹⁾	Included in prepaid expenses and other current assets on our Condensed Consolidated Balance Sheets.


⁽²⁾	Included in accrued expenses on our Condensed Consolidated Balance Sheets.


⁽³⁾	Hedging effectiveness expected to be recognized into income within the next twelve months.

Effect of Derivative Instruments as Designated Cash Flow Hedges and Not Designated as Hedges

The effect of derivative instruments designated as cash flow hedges and of derivative instruments not designated as hedges in our Condensed Consolidated Statements of Income for the three and nine months ended August 30, 2013 was as follows (in thousands):



	Three Months						Nine Months
	Foreign Exchange Option Contracts			Foreign Exchange Forward Contracts			Foreign Exchange Option Contracts			Foreign Exchange Forward Contracts
Derivatives in cash flow hedging relationships:
Net gain (loss) recognized in OCI, net of tax⁽¹⁾	$	(2,947	)	$	—		$	29,713		$	—
Net gain (loss) reclassified from accumulated OCI into income, net of tax⁽²⁾	$	10,487		$	—		$	32,880		$	—
Net gain (loss) recognized in income⁽³⁾	$	(3,989	)	$	—		$	(13,656	)	$	—
Derivatives not designated as hedging relationships:
Net gain (loss) recognized in income⁽⁴⁾	$	—		$	(2,028	)	$	—		$	2,768



	Three Months						Nine Months
	Foreign Exchange Option Contracts			Foreign Exchange Forward Contracts			Foreign Exchange Option Contracts			Foreign Exchange Forward Contracts
Derivatives in cash flow hedging relationships:
Net gain (loss) recognized in OCI, net of tax⁽¹⁾	$	(2,621	)	$	—		$	20,151		$	—
Net gain (loss) reclassified from accumulated OCI into income, net of tax⁽²⁾	$	7,692		$	—		$	28,701		$	—
Net gain (loss) recognized in income⁽³⁾	$	(6,392	)	$	—		$	(21,350	)	$	—
Derivatives not designated as hedging relationships:
Net gain (loss) recognized in income⁽⁴⁾	$	—		$	(3,693	)	$	—		$	12,880

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⁽¹⁾	Net change in the fair value of the effective portion classified in other comprehensive income (“OCI”).


⁽²⁾	Effective portion classified as revenue.


⁽³⁾	Ineffective portion and amount excluded from effectiveness testing classified in interest and other income (expense), net.


⁽⁴⁾	Classified in interest and other income (expense), net.