Leases (Tables)

3 Months Ended

Feb. 28, 2021

Leases [Abstract]

Lease, Cost

The components of operating lease cost for the three months ended February 28, 2021 and February 29, 2020 were as follows (in thousands):

	Three Months Ended		Three Months Ended
	February 28, 2021		February 29, 2020
Lease costs under long-term operating leases	$	2,135	$	1,958
Lease costs under short-term operating leases	15		45
Variable lease cost under short-term and long-term operating leases(1)	115		106
Operating lease right-of-use asset impairment	—		923
Total operating lease cost	$	2,265	$	3,032

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

The table below presents supplemental cash flow information related to leases during the three months ended February 28, 2021 and February 29, 2020 (in thousands):

	Three Months Ended		Three Months Ended
	February 28, 2021		February 29, 2020
Cash paid for leases	$	2,258	$	2,356
Right-of-use assets recognized for new leases and amendments (non-cash)	$	2,338	$	—

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

	February 28, 2021		November 30, 2020
Weighted average remaining lease term in years	4.87		5.02
Weighted average discount rate	2.7	%	2.3	%

Lessee, Operating Lease, Liability, Maturity

Future payments under non-cancellable leases are as follows (in thousands):

	February 28, 2021
Remainder of 2021	$	6,069
2022	7,658
2023	7,550
2024	7,509
2025	5,027
Thereafter	2,932
Total lease payments	36,745
Less imputed interest(1)	(2,249)
Present value of lease liabilities	$	34,496

(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.