Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
May 31, 2019 |
May 31, 2018 |
| OPERATING ACTIVITIES |
|
|
| Net income |
$ 36,628
|
$ 186,016
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
58,068
|
53,598
|
| Stock-based compensation |
1,663
|
1,585
|
| Amortization of financing costs |
827
|
806
|
| Deferred income taxes |
(294)
|
(136,870)
|
| Income from equity investments |
(11,937)
|
(10,659)
|
| Distribution from equity investee |
12,650
|
11,138
|
| Loss on retirements of long-lived assets, non-cash |
1,021
|
2,601
|
| Other, net |
(29)
|
(233)
|
| Changes in operating assets and liabilities: |
|
|
| Receivables, net |
613
|
(15,331)
|
| Prepaid expenses and other assets |
(16,350)
|
(16,521)
|
| Accounts payable and other liabilities |
(2,772)
|
(7,364)
|
| Deferred income |
42,242
|
53,696
|
| Income taxes |
(424)
|
19,013
|
| Net cash provided by operating activities |
121,906
|
141,475
|
| INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(42,562)
|
(65,019)
|
| Distribution from equity investee |
122
|
487
|
| Proceeds from sale of assets |
30
|
418
|
| Acquisition of assets |
7,969
|
0
|
| Other, net |
(279)
|
0
|
| Net cash used in investing activities |
(50,658)
|
(64,114)
|
| FINANCING ACTIVITIES |
|
|
| Payment of long-term debt |
(503)
|
(473)
|
| Exercise of Class A common stock options |
|
718
|
| Reacquisition of previously issued common stock |
(1,009)
|
(7,175)
|
| Net cash used in financing activities |
(1,512)
|
(6,930)
|
| Net increase in cash and cash equivalents |
69,736
|
70,431
|
| Cash and cash equivalents at beginning of period |
269,011
|
256,702
|
| Cash and cash equivalents at end of period |
$ 338,747
|
$ 327,133
|