XML 27 R11.htm IDEA: XBRL DOCUMENT v3.23.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Nov. 30, 2021
Cash flows from operating activities:      
Net income $ 626,911 $ 651,307 $ 395,069
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 418,315 463,365 151,664
Share-based compensation 84,983 91,167 53,192
Provision for doubtful accounts 44,742 34,741 (7,544)
Deferred income taxes (91,572) (92,381) (322)
Impairment of long-lived assets 0 4,726 22,166
Other (2,757) 4,376 9,109
Changes in operating assets and liabilities, net of the impact of Concentrix separation and acquisition of businesses:      
Accounts receivable, net (656,630) (1,497,995) (517,224)
Receivables from vendors, net (127,046) 241,242 (113,602)
Inventories 2,032,202 (2,636,759) (1,030,110)
Accounts payable (971,747) 2,375,952 1,854,887
Other operating assets and liabilities 49,972 310,655 (7,498)
Net cash provided by (used in) operating activities 1,407,373 (49,604) 809,787
Cash flows from investing activities:      
Purchases of property and equipment (150,007) (117,049) (54,892)
Acquisition of businesses, net of cash acquired 0 0 (907,093)
Other (6,404) 1,541 9,637
Net cash used in investing activities (156,411) (115,508) (952,348)
Cash flows from financing activities:      
Dividends paid (130,374) (114,946) (50,272)
Proceeds from issuance of common stock and reissuances of treasury stock 8,846 8,234 12,789
Repurchases of common stock (620,659) (125,016) 0
Repurchases of common stock for tax withholdings on equity awards (18,926) (11,062) (9,923)
Net (repayments) borrowings on revolving credit loans (2,571) 96,592 (417,072)
Principal payments on long-term debt (74,408) (128,728) (2,277,913)
Net transfer of cash and cash equivalents to Concentrix 0 0 (149,948)
Borrowings on long-term debt 51,837 0 2,545,535
Cash paid for debt issuance costs 0 0 (42,254)
Other 375 (665) (3,562)
Net cash used in financing activities (785,880) (275,591) (392,620)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 45,838 (31,354) (38,776)
Net increase (decrease) in cash, cash equivalents and restricted cash 510,920 (472,057) (573,957)
Cash, cash equivalents and restricted cash at beginning of year 522,856 994,913 1,568,870
Cash, cash equivalents and restricted cash at end of year 1,033,776 522,856 994,913
Supplemental disclosures of cash flow information:      
Interest paid on borrowings 318,236 220,760 116,983
Income taxes paid 282,512 178,035 173,547
Supplemental disclosure of non-cash investing and financing activities:      
Issuance of stock to acquire business 0 0 5,614,400
Net assets transferred to Concentrix $ 0 $ 0 $ 2,322,598