XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Cash flows from operating activities:    
Net income before non-controlling interest $ 52,102 $ 87,870
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 67,758 38,175
Amortization 116,302 39,260
Non-cash share-based compensation expense 21,566 16,601
Provision for doubtful accounts (180) 1,722
Deferred income taxes (22,131) (7,393)
Amortization of debt issuance costs 5,625 419
Pension and other post-retirement benefit costs 3,579 2,934
Pension and other post-retirement plan contributions (859) (615)
Change in acquisition contingent consideration (14,897) 0
Other (96) 433
Changes in operating assets and liabilities:    
Accounts receivable, net (44,894) 112
Accounts payable (36,516) (9,672)
Other operating assets and liabilities (194,229) (65,953)
Net cash provided by (used in) operating activities (46,870) 103,893
Cash flows from investing activities:    
Purchases of property and equipment (56,059) (39,597)
Acquisition of business, net of cash and restricted cash acquired (4,503) 0
Net cash used in investing activities (60,562) (39,597)
Cash flows from financing activities:    
Proceeds from the Amended Credit Facility - Term Loan 0 0
Proceeds from the Securitization Facility 628,000 417,500
Repayments of the Securitization Facility (430,500) (397,000)
Proceeds from Other Debt 400 0
Repayments of Other Debt (2,792) 0
Proceeds from exercise of stock options 1,607 2,504
Repurchase of common stock for tax withholdings on equity awards (2,090) (8,216)
Repurchase of common stock (21,674) (10,001)
Dividends paid (20,613) (14,313)
Change in funds held for clients (37,894) 0
Net cash provided by (used in) financing activities 14,444 (34,526)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,544) 2,797
Net increase (decrease) in cash, cash equivalents and restricted cash (98,532) 32,567
Cash, cash equivalents and restricted cash at beginning of year 516,487 157,463
Cash, cash equivalents and restricted cash at end of period 417,955 190,030
Supplemental disclosure of non-cash investing activities:    
Accrued costs for property and equipment purchases 20,181 5,747
Prior Credit Facility - Term Loan    
Cash flows from financing activities:    
Repayments of the Amended Credit Facility - Term Loan $ (100,000) $ (25,000)