CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
May 31, 2022 |
May 31, 2021 |
| Cash flows from operating activities: |
|
|
| Net income before non-controlling interest |
$ 223,572
|
$ 171,715
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
73,174
|
72,225
|
| Amortization |
79,525
|
69,199
|
| Non-cash share-based compensation expense |
27,590
|
15,690
|
| Provision for doubtful accounts |
4,422
|
(2,132)
|
| Deferred income taxes |
963
|
(4,764)
|
| Unrealized foreign exchange loss |
470
|
3,240
|
| Other |
(107)
|
142
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable, net |
(17,039)
|
(10,896)
|
| Payable to former parent |
0
|
(22,825)
|
| Accounts payable |
(17,777)
|
(15,033)
|
| Other operating assets and liabilities |
(162,309)
|
(37,446)
|
| Net cash provided by operating activities |
212,484
|
239,115
|
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(71,166)
|
(70,758)
|
| Acquisitions of business, net of cash acquired |
(1,565,252)
|
(3,015)
|
| Other investments |
(1,000)
|
0
|
| Net cash used in investing activities |
(1,637,418)
|
(73,773)
|
| Cash flows from financing activities: |
|
|
| Proceeds from the Credit Facility - Term Loan |
2,100,000
|
(200,000)
|
| Repayments of the Credit Facility - Prior Term Loan |
(700,000)
|
0
|
| Proceeds from the Securitization Facility |
848,500
|
768,500
|
| Repayments of the Securitization Facility |
(742,500)
|
(756,000)
|
| Cash paid for debt issuance costs |
(8,863)
|
0
|
| Proceeds from exercise of stock options |
5,200
|
5,441
|
| Repurchase of common stock for tax withholdings on equity awards |
(2,912)
|
(527)
|
| Repurchase of common stock |
(57,850)
|
0
|
| Dividends paid |
(26,170)
|
0
|
| Net cash provided by (used in) financing activities |
1,415,405
|
(182,586)
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(9,382)
|
(6,626)
|
| Net decrease in cash, cash equivalents and restricted cash |
(18,911)
|
(23,870)
|
| Cash, cash equivalents and restricted cash at beginning of year |
183,010
|
156,351
|
| Cash, cash equivalents and restricted cash at end of period |
164,099
|
132,481
|
| Supplemental disclosure of non-cash investing activities: |
|
|
| Accrued costs for property and equipment purchases |
$ 4,907
|
$ 6,037
|