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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Nov. 30, 2022
Cash flows from operating activities:      
Net income before non-controlling interest $ 251,217 $ 313,842 $ 435,640
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 246,920 173,463 146,864
Amortization 458,925 214,832 162,673
Non-cash share-based compensation 96,057 62,113 47,142
Provision for doubtful accounts 7,057 10,236 3,329
Deferred income taxes (235,248) (121,711) (30,824)
Unrealized foreign exchange loss 0 0 374
Loss on call options 0 14,629 0
Amortization of debt discount and issuance costs 25,276 6,089 1,771
Pension and other post-retirement benefit costs 16,097 11,328 9,437
Pension and other post-retirement plan contributions (4,442) (12,143) (12,776)
Change in acquisition contingent consideration (29,268) 15,681 0
Other 1,791 306 537
Changes in operating assets and liabilities:      
Accounts receivable, net (63,851) (45,895) (53,129)
Accounts payable (25,819) 9,341 14,626
Other operating assets and liabilities (77,220) 25,897 (124,944)
Net cash provided by operating activities 667,492 678,008 600,720
Cash flows from investing activities:      
Purchases of property and equipment (238,762) (180,532) (140,018)
Premiums paid for call options 0 (14,629) 0
Acquisitions of business, net of cash and restricted cash acquired (5,504) (1,914,079) (1,698,261)
Other investments 0 0 (1,000)
Net cash used in investing activities (244,266) (2,109,240) (1,839,279)
Cash flows from financing activities:      
Proceeds from the Securitization Facility 2,191,000 1,964,000 1,831,000
Repayments of the Securitization Facility (1,948,500) (2,192,000) (1,579,500)
Proceeds from the issuance of Senior Notes 0 2,136,987 0
Proceeds from Other Debt 6,369 0 0
Repayments of Other Debt (7,558) 0 0
Cash paid for debt issuance costs (600) (30,519) (9,331)
Purchase of non-controlling interest in subsidiary 0 0 (2,500)
Cash paid for acquired earnout liabilities (22,737) (13,309) 0
Proceeds from exercise of stock options 5,030 7,201 9,588
Repurchase of common stock for tax withholdings on equity awards (13,385) (17,231) (12,474)
Repurchase of common stock (136,096) (63,958) (120,819)
Dividends paid (83,807) (63,495) (53,430)
Net Change in Client Fund Obligation (32,248) 0 0
Net cash provided by (used in) financing activities (492,532) 1,802,676 1,237,534
Effect of exchange rate changes on cash, cash equivalents and restricted cash (17,577) (12,420) (24,522)
Net increase (decrease) in cash, cash equivalents and restricted cash (86,883) 359,024 (25,547)
Cash, cash equivalents and restricted cash at beginning of year 516,487 157,463 183,010
Cash, cash equivalents and restricted cash at end of year 429,604 516,487 157,463
Supplemental disclosures of cash flow information:      
Interest paid on borrowings 282,270 142,598 67,601
Income taxes paid 298,445 217,252 143,865
Supplemental disclosure of non-cash investing activities:      
Accrued costs for property and equipment purchases 24,856 26,374 12,675
Restated Term Loan      
Cash flows from financing activities:      
Proceeds from the Prior Credit Facility - Term Loan 0 294,702 0
Repayments of the Prior Credit Facility - Term Loan (450,000) (194,702) 0
Term Loan      
Cash flows from financing activities:      
Proceeds from the Prior Credit Facility - Term Loan 0 0 2,100,000
Repayments of the Prior Credit Facility - Term Loan 0 (25,000) (225,000)
Prior Term Loan      
Cash flows from financing activities:      
Repayments of the Prior Credit Facility - Term Loan $ 0 $ 0 $ (700,000)