CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
May. 31, 2015 |
May. 31, 2014 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 98,212
|
$ 78,037
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation expense |
22,280
|
14,856
|
| Amortization of intangible assets |
28,055
|
20,863
|
| Share-based compensation |
7,377
|
5,632
|
| Provision for doubtful accounts |
2,550
|
2,974
|
| Tax benefits from employee stock plans |
3,588
|
2,806
|
| Excess tax benefit from share-based compensation |
(3,618)
|
(2,758)
|
| Deferred income taxes |
(1,110)
|
3,362
|
| Gains on investments |
(50)
|
(96)
|
| Changes in assets and liabilities, net of acquisition of business: |
|
|
| Accounts receivable |
369,475
|
(200,060)
|
| Receivable from related parties |
223
|
(486)
|
| Inventories |
133,400
|
(332,143)
|
| Other assets |
(29,588)
|
(27,894)
|
| Accounts payable |
(256,095)
|
111,058
|
| Payable to related parties |
(981)
|
12,133
|
| Accrued liabilities |
(33,024)
|
103,911
|
| Other liabilities |
(5,121)
|
8,063
|
| Net cash provided by (used in) operating activities |
335,573
|
(199,742)
|
| Cash flows from investing activities: |
|
|
| Purchases of trading investments |
(83)
|
(528)
|
| Proceeds from sale of trading investments |
2,105
|
3,453
|
| Purchases of term deposits |
(5,689)
|
(8,817)
|
| Proceeds from maturity of term deposits |
5,079
|
8,683
|
| Acquisition of businesses, net of cash acquired |
65,297
|
(390,433)
|
| Purchases of property and equipment |
(45,331)
|
(20,269)
|
| Repayments received of loans and deposits to third parties |
546
|
1,509
|
| Proceeds from sale of cost investment |
0
|
1,877
|
| Changes in restricted cash |
6,736
|
2,208
|
| Net cash provided by (used in) investing activities |
28,660
|
(402,317)
|
| Cash flows from financing activities: |
|
|
| Proceeds from securitization and revolving line of credit |
1,924,139
|
2,085,743
|
| Payments of securitization and revolving line of credit |
(2,567,069)
|
(1,652,964)
|
| Proceeds from term loans, net of issuance cost |
408,299
|
225,000
|
| Payments of term loans and capital leases |
(6,009)
|
(519)
|
| Dividends paid |
(9,833)
|
0
|
| Excess tax benefit from share-based compensation |
3,618
|
2,758
|
| Decrease in book overdraft |
(78,263)
|
(1,567)
|
| Payments of acquisition-related contingent consideration |
(170)
|
(5,136)
|
| Proceeds from issuance of common stock, net of taxes paid for settlement of equity awards |
(1,394)
|
2,888
|
| Net cash provided by (used in) financing activities |
(326,682)
|
656,203
|
| Effect of exchange rate changes on cash and cash equivalents |
(2,189)
|
(1,171)
|
| Net increase in cash and cash equivalents |
35,362
|
52,973
|
| Cash and cash equivalents at beginning of period |
180,143
|
151,622
|
| Cash and cash equivalents at end of period |
215,505
|
204,595
|
| Supplemental disclosure of non-cash investing activities |
|
|
| Fair value of common stock issued for acquisition of business |
0
|
71,106
|
| Accrued costs for property and equipment purchases |
$ 4,786
|
$ 618
|