Balance Sheet Components

12 Months Ended

Nov. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET COMPONENTS:

Accounts receivable, net:

The following table summarizes accounts receivable, net:


	As of November 30,
	2024		2023
	(currency in thousands)
Accounts receivable	$	10,443,290	$	10,448,567
Less: Allowance for doubtful accounts	(101,665)		(150,753)
Accounts receivable, net	$	10,341,625	$	10,297,814

Allowance for doubtful trade receivables:

The following table summarizes the changes to the allowance for doubtful trade receivables (currency in thousands):



Balance as of November 30, 2021	$	114,836

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

Additions	44,742
Write-offs, recoveries, reclassifications and foreign exchange translation	(23,731)
Balance as of November 30, 2023	150,753

Additions	862
Write-offs, recoveries, reclassifications and foreign exchange translation	(49,950)
Balance as of November 30, 2024	$	101,665

Property and equipment, net:

The following table summarizes property and equipment, net:


	As of November 30,
	2024		2023
	(currency in thousands)
Land	$	27,384	$	27,871
Equipment, computers and software	483,948		513,030
Furniture and fixtures	64,103		64,429
Buildings, building improvements and leasehold improvements	239,918		236,479
Construction-in-progress	1,230		17,681
Total property and equipment, gross	$	816,583	$	859,490
Total accumulated depreciation	(359,559)		(409,466)
Property and equipment, net	$	457,024	$	450,024

Depreciation and amortization expense for fiscal years 2024, 2023 and 2022, was $115.2 million, $124.6 million and $164.2 million, respectively. Fiscal years 2024, 2023 and 2022 include accelerated depreciation and amortization expense of $5.5 million, $17.4 million and $64.4 million, respectively due to changes in asset useful lives in conjunction with the consolidation of certain IT systems, which is recorded in "Acquisition, integration and restructuring costs" in the Consolidated Statements of Operations.

Goodwill:

The following table summarizes changes in the carrying amount of goodwill:


	Fiscal Year Ended November 30, 2024
	Americas		Europe		APJ		Total
	(currency in thousands)
Balance, beginning of year	$	2,480,078	$	1,349,740	$	74,352	$	3,904,170
Additions from acquisitions	13,247		6,309		5,157		24,713
Foreign exchange translation	444		(33,496)		(754)		(33,806)
Balance, end of year	$	2,493,769	$	1,322,553	$	78,755	$	3,895,077

Intangible assets, net:

The following table summarizes intangible assets, net:


	As of November 30, 2024						As of November 30, 2023
	Gross Amounts		Accumulated Amortization		Net Amounts		Gross Amounts		Accumulated Amortization		Net Amounts
	(currency in thousands)
Intangible assets with indefinite lives:
Trade name	$	1,018,208	$	—	$	1,018,208	$	1,033,378	$	—	$	1,033,378
Intangible assets with finite lives:
Customer relationships	$	3,858,727	$	(1,001,886)	$	2,856,841	$	3,898,701	$	(741,388)	$	3,157,313
Vendor lists	175,865		(144,692)		31,173		177,737		(132,440)		45,297
Other intangible assets	28,100		(22,055)		6,045		28,579		(20,253)		8,326
	$	5,080,900	$	(1,168,633)	$	3,912,267	$	5,138,395	$	(894,081)	$	4,244,314

Amortization expense for fiscal years 2024, 2023 and 2022, was $292.3 million, $293.7 million and $299.2 million, respectively.

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


Fiscal years ending November 30,	(currency in thousands)
2025	$	286,585
2026	283,890
2027	280,837
2028	264,655
2029	262,696
Thereafter	1,515,396
Total	$	2,894,059