|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
May 31, 2013
|
May 31, 2012
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 64,183 |
$ 73,984 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation expense |
8,269 |
8,202 |
| Amortization of intangible assets |
3,924 |
4,146 |
| Accretion of convertible notes discount |
2,314 |
2,584 |
| Share-based compensation |
4,698 |
4,225 |
| (Benefit from) provision for doubtful accounts |
4,255 |
1,067 |
| Tax benefits from employee stock plans |
1,554 |
2,736 |
| Excess tax benefit from share-based compensation |
(1,765) |
(2,691) |
| (Gain) loss on investments |
(832) |
(1,705) |
| Changes in assets and liabilities, net of acquisition of businesses: |
|
|
| Accounts receivable |
194,418 |
174,031 |
| Inventories |
(1,036) |
96,836 |
| Other assets |
(11,160) |
(9,140) |
| Accounts payable |
(147,284) |
(218,317) |
| Accrued liabilities |
(22,467) |
(22,965) |
| Deferred liabilities |
(7,599) |
9,376 |
| Net cash provided by (used in) operating activities |
91,472 |
122,369 |
| Cash flows from investing activities: |
|
|
| Purchase of trading investments |
(261) |
(3,711) |
| Proceeds from sale of trading investments |
3,149 |
4,886 |
| Proceeds from redemption of held-to-maturity term deposits |
(129) |
0 |
| Acquisition of businesses, net of cash acquired |
(21,578) |
(269) |
| Purchase of property and equipment |
(8,127) |
(7,295) |
| Loans and deposits to third parties, net of payments received |
762 |
635 |
| Proceeds from sale of equity method investee net of investments made |
4,153 |
3,480 |
| Purchase of cost-method investment |
(1,705) |
0 |
| Changes in restricted cash |
(441) |
12,438 |
| Net cash provided by (used in) investing activities |
(24,177) |
10,164 |
| Cash flows from financing activities: |
|
|
| Proceeds from securitization and revolving line of credit |
256,038 |
1,139,537 |
| Payment of securitization and revolving line of credit |
(266,825) |
(1,231,978) |
| Payment of long-term bank loans, capital leases and other borrowings |
(941) |
(1,472) |
| Excess tax benefit from share-based compensation |
1,765 |
2,691 |
| Increase (decrease) in book overdraft |
0 |
(14,288) |
| contingent consideration liability payment |
0 |
1,052 |
| Payments for Repurchase of Common Stock |
(1,882) |
0 |
| Proceeds from issuance of common stock, net of taxes paid for settlement of equity awards |
3,646 |
7,838 |
| Payment for purchase of subsidiary shares from noncontrolling interest |
(11,400) |
(6,046) |
| Net cash provided by (used in) financing activities |
(19,599) |
(104,770) |
| Effect of exchange rate changes on cash and cash equivalents |
4,991 |
1,880 |
| Net increase (decrease) in cash and cash equivalents |
52,687 |
29,643 |
| Cash and cash equivalents at beginning of period |
163,699 |
67,571 |
| Cash and cash equivalents at end of period |
$ 216,386 |
$ 97,214 |