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Basis of Presentation and Significant Accounting Policies (Tables 1) - Accounting Standards Update 2014-09
 12 Months Ended
Nov. 29, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Impact of ASC 606 Adoption on Opening Balance Sheets
We recognized the following cumulative effects of initially applying the new revenue standard as of December 1, 2018:
(in thousands)
As of
November 30, 2018
 
Topic 606 Adoption Adjustments
 
As of
December 1,
2018
Assets
 
 
 
 
 
Trade receivables, net of allowances for doubtful accounts
$
1,315,578

 
$
43,028

 
$
1,358,606

Prepaid expenses and other current assets
312,499

 
186,220

 
498,719

Other assets
186,522

 
273,421

 
459,943

Liabilities and Stockholders’ Equity
 
 
 
 
 
Accrued expenses
1,163,185

 
30,358

 
1,193,543

Deferred revenue, current
2,915,974

 
(52,842
)
 
2,863,132

Deferred income taxes
46,702

 
82,834

 
129,536

Retained earnings
$
11,815,597

 
$
442,319

 
$
12,257,916
Impact of ASC 606 Adoption on Consolidated Statements of Income
Adoption of the new revenue standard impacted our Consolidated Statements of Income for the year ended November 29, 2019 as follows:
(in thousands, except per share amounts)
As reported
 
Adjustments
 
Balances without Topic 606 adoption impact
Revenue
 
 
 
 
 
Subscription
$
9,994,463

 
$
1,440

 
$
9,995,903

Product
647,788

 
(101,981
)
 
545,807

Services and support
529,046

 
(7,431
)
 
521,615

Total revenue
11,171,297

 
(107,972
)
 
11,063,325

 Operating expenses
 
 
 
 
 
Sales and marketing
3,244,347

 
11,987

 
3,256,334

General and administrative
880,637

 
(7,646
)
 
872,991

Provision for income taxes
253,283

 
(6,517
)
 
246,766

Net income
$
2,951,458

 
$
(105,953
)
 
$
2,845,505

Basic net income per share
$
6.07

 
$
(0.22
)
 
$
5.85

Diluted net income per share
$
6.00

 
$
(0.21
)
 
$
5.79
Impact of ASC 606 Adoption on Condensed Balance Sheets
Adoption of the new revenue standard impacted our Consolidated Balance Sheets as of November 29, 2019 as follows:
(in thousands)
As reported
 
Adjustments
 
Balances without Topic 606 adoption impact
Assets
 
 
 
 
 
Trade receivables, net of allowances for doubtful accounts
$
1,534,809

 
$
(58,140
)
 
$
1,476,669

Prepaid expenses and other current assets
783,140

 
(198,692
)
 
584,448

Other assets
562,696

 
(340,458
)
 
222,238

Liabilities and Stockholders’ Equity
 
 
 
 
 
Accrued expenses
1,398,548

 
(51,918
)
 
1,346,630

Deferred revenue, current
3,377,986

 
113,432

 
3,491,418

Deferred revenue, long-term
122,727

 
(14,723
)
 
108,004

Income taxes payable, long-term
616,102

 
(7,112
)
 
608,990

Deferred income taxes
140,498

 
(88,697
)
 
51,801

Retained earnings
$
14,828,562

 
$
(548,272
)
 
$
14,280,290