|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
May 31, 2014
|
May 31, 2013
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 78,037 |
$ 64,183 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation expense |
14,856 |
8,269 |
| Amortization of intangible assets |
20,863 |
3,924 |
| Accretion of convertible notes discount |
0 |
2,314 |
| Share-based compensation |
5,632 |
4,698 |
| Provision for doubtful accounts |
2,974 |
4,255 |
| Tax Benefit from Share-based Compensation |
2,806 |
1,555 |
| Excess tax benefit from share-based compensation |
(2,758) |
(1,765) |
| Gain on investments |
(96) |
(832) |
| Changes in assets and liabilities, net of acquisition of businesses: |
|
|
| Accounts receivable |
(200,060) |
194,417 |
| Receivable from related parties |
(486) |
26 |
| Inventories |
(332,143) |
(1,036) |
| Other assets |
(27,894) |
(11,186) |
| Accounts payable |
111,058 |
(147,715) |
| Payable to related parties |
12,133 |
431 |
| Accrued liabilities |
103,911 |
(22,467) |
| Deferred liabilities |
11,425 |
(7,599) |
| Net cash provided by (used in) operating activities |
(199,742) |
91,472 |
| Cash flows from investing activities: |
|
|
| Purchase of trading investments |
(528) |
(261) |
| Proceeds from sale of trading investments |
3,453 |
3,149 |
| Investment in held-to-maturity term deposits |
(134) |
(129) |
| Acquisition of businesses, net of cash acquired |
(390,433) |
(21,578) |
| Purchase of property and equipment |
(20,269) |
(8,127) |
| Repayments received from loans and deposits to third parties |
1,509 |
762 |
| Proceeds from sale of equity method investments |
0 |
4,153 |
| Purchase of cost investment |
0 |
(1,705) |
| Proceeds from sale of cost investment |
1,877 |
0 |
| Changes in restricted cash |
2,208 |
(441) |
| Net cash used in investing activities |
(402,317) |
(24,177) |
| Cash flows from financing activities: |
|
|
| Proceeds from securitization and revolving line of credit |
2,085,743 |
256,038 |
| Payment of securitization and revolving line of credit |
(1,652,964) |
(266,825) |
| Proceeds from long-term credit facility and term loans |
225,000 |
0 |
| Payment of long-term bank loans, capital leases and other borrowings |
(519) |
(941) |
| Excess tax benefit from share-based compensation |
2,758 |
1,765 |
| Decrease in book overdraft |
(1,567) |
0 |
| Payment of acquisition-related contingent consideration |
(5,136) |
0 |
| Cash paid for repurchase of treasury stock |
0 |
(1,882) |
| Proceeds from issuance of common stock, net of taxes paid for settlement of equity awards |
2,888 |
3,646 |
| Payment for purchase of subsidiary shares from noncontrolling interest |
0 |
(11,400) |
| Net cash provided by (used in) financing activities |
656,203 |
(19,599) |
| Effect of exchange rate changes on cash and cash equivalents |
(1,171) |
4,991 |
| Net increase in cash and cash equivalents |
52,973 |
52,687 |
| Cash and cash equivalents at beginning of period |
151,622 |
163,699 |
| Cash and cash equivalents at end of period |
204,595 |
216,386 |
| Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] |
|
|
| Fair value of common stock issued for acquisition of business |
$ 71,106 |
$ 0 |