XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Cash flows from operating activities:    
Net income $ 87,822 $ 122,584
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,614 84,858
Share-based compensation 4,887 8,789
Provision for doubtful accounts 901 4,594
Deferred income taxes 612 (7,131)
Unrealized foreign exchange (gains) losses 1,576 (2,945)
Other 1,758 2,846
Changes in operating assets and liabilities, net of the impact of Concentrix separation:    
Accounts receivable, net 427,052 619,254
Receivables from vendors, net 17,136 67,600
Inventories 126,927 (162,772)
Accounts payable (636,045) (613,821)
Other operating assets and liabilities (23,264) (65,717)
Net cash provided by operating activities 24,977 58,141
Cash flows from investing activities:    
Purchases of property and equipment (4,253) (51,900)
Other 211 (2,404)
Net cash used in investing activities (4,041) (54,304)
Cash flows from financing activities:    
Proceeds from borrowings 395,437 2,091,077
Repayments of borrowings (382,415) (2,002,975)
Dividends paid (10,269) (20,740)
Increase (decrease) in book overdraft 596 (1,278)
Proceeds from issuance of common stock 174 3,963
Repurchases of common stock for tax withholdings on equity awards (794) (2,480)
Net transfer of cash and cash equivalents to Concentrix (149,948) 0
Net cash provided by (used in) financing activities (147,219) 67,567
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,640 (1,300)
Net increase (decrease) in cash, cash equivalents and restricted cash (124,645) 70,104
Cash, cash equivalents and restricted cash at beginning of period 1,568,870 231,149
Cash, cash equivalents and restricted cash at end of period 1,444,225 301,256
Supplemental disclosures of non-cash investing activities:    
Accrued costs for property and equipment purchases 354 6,262
Supplemental disclosures of non-cash financing activities:    
Net assets transferred to Concentrix $ 2,322,598 $ 0