Balance Sheet Components

12 Months Ended

Nov. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE 8—BALANCE SHEET COMPONENTS:

Cash, cash equivalents and restricted cash:

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows:


	As of November 30,
	2022		2021
Cash and cash equivalents	$	522,604	$	993,973
Restricted cash included in other current assets	252		940
Cash, cash equivalents and restricted cash	$	522,856	$	994,913

Accounts receivable, net:


	As of November 30,
	2022		2021
Accounts receivable	$	9,550,741	$	8,424,868
Less: Allowance for doubtful accounts	(129,742)		(114,836)
Accounts receivable, net	$	9,420,999	$	8,310,032

Receivables from vendors, net:


	As of November 30,
	2022		2021
Receivables from vendors	$	831,539	$	1,130,091
Less: Allowance for doubtful accounts	(12,404)		(11,128)
Receivables from vendors, net	$	819,135	$	1,118,963

Allowance for doubtful trade receivables:


Balance at November 30, 2019	$	23,865
Additions	42,592
Write-offs, reclassifications and foreign exchange translation	904
Balance at November 30, 2020	67,361
Acquisitions	75,362
Additions	(7,544)
Write-offs, reclassifications and foreign exchange translation	(20,343)
Balance at November 30, 2021	114,836

Additions	34,741
Write-offs, reclassifications and foreign exchange translation	(19,835)
Balance at November 30, 2022	$	129,742

Allowance for receivables from vendors:


Balance at November 30, 2019	$	5,481
Additions	—
Write-offs, reclassifications and foreign exchange translation	(354)
Balance at November 30, 2020	5,126
Acquisitions	7,524
Additions	588
Write-offs, reclassifications and foreign exchange translation	(2,110)
Balance at November 30, 2021	11,128
Additions	1,497
Write-offs, reclassifications and foreign exchange translation	(221)
Balance at November 30, 2022	$	12,404

Property and equipment, net:


	As of November 30,
	2022		2021
Land	$	27,311	$	28,409
Equipment, computers and software	414,359		406,972
Furniture and fixtures	59,349		53,766
Buildings, building improvements and leasehold improvements	219,859		218,284
Construction-in-progress	6,859		1,045
Total property and equipment, gross	$	727,737	708,476
Total accumulated depreciation	(306,673)		(225,033)
Property and equipment, net	$	421,064	$	483,443

Depreciation and amortization expense for fiscal years 2022, 2021 and 2020, was $164.2 million, $44.2 million and $24.9 million, respectively. Fiscal year 2022 includes accelerated depreciation and amortization expense of $64.4 million due to changes in asset useful lives in conjunction with the consolidation of certain IT systems, which is recorded in "Acquisition, integration and restructuring expenses" in the Consolidated Statements of Operations.

Goodwill:


	Fiscal Year Ended November 30, 2022
	Americas		Europe		APJ		Total
Balance, beginning of year	$	2,451,478	$	1,381,023	$	84,775	$	3,917,276
Adjustments to fair value during the measurement period for the Merger	16,619		31,404		(4,291)		43,732
Foreign exchange translation	(16,271)		(135,201)		(5,686)		(157,158)
Balance, end of year	$	2,451,826	$	1,277,226	$	74,798	$	3,803,850

Intangible assets, net:


	As of November 30, 2022						As of November 30, 2021
	Gross Amounts		Accumulated Amortization		Net Amounts		Gross Amounts		Accumulated Amortization		Net Amounts
Intangible assets with indefinite lives:
Trade name	$	1,003,974	$	—	$	1,003,974	$	1,050,071	$	—	$	1,050,071
Intangible assets with finite lives:
Customer relationships	$	3,800,710	$	(453,439)	$	3,347,271	$	3,958,033	$	(186,263)	$	3,771,770
Vendor lists	176,910		(115,814)		61,096		177,105		(98,670)		78,435
Other intangible assets	28,215		(17,679)		10,536		28,213		(15,365)		12,848
	$	5,009,809	$	(586,932)	$	4,422,877	$	5,213,422	$	(300,298)	$	4,913,124

Amortization expense for fiscal years 2022, 2021 and 2020, was $299.2 million, $105.3 million and $40.1 million, respectively.

Estimated future amortization expense of the Company’s intangible assets is as follows:


Fiscal years ending November 30,
2023	$	288,230
2024	283,421
2025	279,994
2026	277,216
2027	274,152
Thereafter	2,015,889
Total	$	3,418,902

Accumulated other comprehensive income (loss)

The components of accumulated other comprehensive income (loss) ("AOCI"), net of taxes, were as follows:


	Unrealized gains (losses) on cash flow hedges, net of taxes		Foreign currency translation adjustment and other, net of taxes		Total
Balance, beginning of year	$	(48,803)	$	(287,391)	$	(336,194)

Other comprehensive income (loss) before reclassification	35,046		(438,488)		(403,442)
Reclassification of (gains) losses from other comprehensive income (loss)	19,926		—		19,926
Balance, end of year	$	6,169	$	(725,879)	$	(719,710)

Refer to Note 9 – Derivative Instruments for the location of gains and losses reclassified from accumulated other comprehensive income (loss) to the Consolidated Statements of Operations.