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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
May 31, 2023
May 31, 2022
Cash flows from operating activities:    
Net income $ 300,107 $ 281,241
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 209,632 255,126
Share-based compensation 43,282 40,255
Provision for doubtful accounts 19,511 24,492
Other 1,745 5,167
Changes in operating assets and liabilities:    
Accounts receivable, net 1,204,467 301,882
Receivables from vendors, net (153,380) 65,864
Inventories 1,339,409 (1,863,551)
Accounts payable (2,063,255) 661,189
Other operating assets and liabilities (296,768) (56,147)
Net cash provided by (used in) operating activities 604,750 (284,482)
Cash flows from investing activities:    
Purchases of property and equipment (67,609) (46,501)
Other 3,071 (150)
Net cash used in investing activities (64,538) (46,651)
Cash flows from financing activities:    
Dividends paid (66,223) (57,595)
Repurchases of common stock (174,791) (52,780)
Net borrowings on revolving credit loans 29,424 34,312
Principal payments on long term debt (33,441) (52,078)
Proceeds from issuance of common stock 5,334 4,072
Repurchases of common stock for tax withholdings on equity awards (7,765) (5,881)
Other 375 0
Net cash used in financing activities (247,087) (129,950)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 36,098 (12,082)
Net increase (decrease) in cash, cash equivalents and restricted cash 329,223 (473,165)
Cash, cash equivalents and restricted cash at beginning of period 852,079 521,748
Cash, cash equivalents and restricted cash at end of period $ 852,079 $ 521,748