Leases (Tables)

9 Months Ended

Aug. 31, 2020

Leases [Abstract]

Lease, Cost

The components of operating lease cost for the three and nine months ended August 31, 2020 were as follows (in thousands):

	Three Months Ended		Nine Months Ended
	August 31, 2020		August 31, 2020
Lease costs under long-term operating leases	$	1,714	$	5,471
Lease costs under short-term operating leases	235		379
Variable lease cost under short-term and long-term operating leases(1)	113		301
Operating lease right-of-use asset impairment	—		1,189
Total operating lease cost	$	2,062	$	7,340

⁽¹⁾ Lease costs that are not fixed at lease commencement.

The table below presents supplemental cash flow information related to leases during the nine months ended August 31, 2020 (in thousands):

	Nine Months Ended
	August 31, 2020
Cash paid for leases	$	5,979
Right-of-use assets recognized for new leases and amendments (non-cash)	$	204

Weighted average remaining lease term in years and weighted average discount rate are as follows:

	August 31, 2020
Weighted average remaining lease term in years	4.51
Weighted average discount rate	2.3	%

Lessee, Operating Lease, Liability, Maturity

Future payments under non-cancellable leases at August 31, 2020 are as follows (in thousands):

Remainder of 2020	$	1,906
2021	6,267
2022	5,518
2023	5,325
2024	5,236
Thereafter	2,841
Total lease payments	27,093
Less imputed interest(1)	(1,380)
Present value of lease liabilities	$	25,713

⁽¹⁾ Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated as a result of a lease reassessment event.

Schedule of Future Minimum Rental Payments for Operating Leases

As previously disclosed in the Company’s 2019 10-K, the following table summarizes the future non-cancelable minimum lease commitments (including office space, copiers, and automobiles) at November 30, 2019 under the previous lease accounting standard, ASC 840, Leases (in thousands):

2020	$	7,453
2021	5,711
2022	4,977
2023	5,017
2024	5,102
Thereafter	2,904
Total	$	31,164