Subsequent Events

9 Months Ended

Aug. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On September 26, 2019, we announced that we are reducing our current and ongoing spending levels within our cognitive application product lines, which consist primarily of our DataRPM and Kinvey products. We expect our fiscal fourth quarter results to include a restructuring charge of $2.0 million to $4.0 million. This restructuring charge will relate to employee costs, including severance, health benefits and outplacement services (but excluding stock-based compensation).

In connection with this restructuring action, during the fiscal fourth quarter, we will be evaluating the ongoing value of the intangible assets associated with the technologies and trade names obtained in the acquisitions of DataRPM and Kinvey. In accordance with ASC 360-10, we record impairment losses on long-lived assets used in operations when events and circumstances indicate that long-lived assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. We are still in the process of evaluating the recoverability of these assets; however, we expect that we will be required to write down these assets to fair value because our estimate of undiscounted cash flows associated with DataRPM and Kinvey may change. As of August 31, 2019, the combined carrying amounts of these intangible assets was $23.6 million.