XML 49 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Cash flows from operating activities:    
Net income $ 146,383 $ 123,042
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 35,305 25,170
Amortization of intangible assets 41,771 38,427
Share-based compensation 10,678 9,224
Provision for doubtful accounts 1,856 4,723
Tax benefits from employee stock plan 4,893 3,747
Excess tax benefit from share-based compensation (4,941) (3,689)
Deferred income taxes (1,701) 1,939
Gains on investments (50) (383)
Unrealized exchange losses 14,995 0
Changes in assets and liabilities, net of acquisition of business:    
Accounts receivable 481,200 (246,120)
Receivable from related parties 215 (803)
Inventories 47,362 (355,839)
Other assets (31,986) (39,825)
Accounts payable (206,980) 21,765
Payable to related parties 2,604 6,205
Accrued liabilities 12,968 160,307
Other liabilities 2,850 5,501
Net cash provided by (used in) operating activities 557,422 (246,609)
Cash flows from investing activities:    
Purchases of trading investments (88) (593)
Proceeds from sale of trading investments 2,105 3,475
Purchases of term deposits (6,907) (8,817)
Proceeds from maturity of term deposits 6,741 8,683
Acquisition of businesses, net of cash acquired 37,299 (390,433)
Purchases of property and equipment (71,495) (40,221)
Loans and deposits to third parties, net of payments received (794) 2,265
Proceeds from sale of cost investment 0 1,877
Changes in restricted cash (30,733) (16,676)
Net cash used in investing activities (63,872) (440,440)
Cash flows from financing activities:    
Proceeds from securitization and revolving line of credit 2,200,307 3,022,167
Payments of securitization and revolving line of credit (2,843,232) (2,559,329)
Proceeds from term loans, net of issuance cost 408,299 225,000
Payments of term loans and capital leases (6,193) (3,582)
Dividends paid (14,755) 0
Excess tax benefit from share-based compensation 4,941 3,689
Decrease in book overdraft (88,081) (21,045)
Payments of acquisition-related contingent consideration (170) (5,136)
Proceeds from issuance of common stock, net of taxes paid for settlement of equity awards (550) 4,053
Repurchases of common stock (8,736) 0
Net cash provided by (used in) financing activities (348,170) 665,817
Effect of exchange rate changes on cash and cash equivalents (17,447) (2,726)
Net increase (decrease) in cash and cash equivalents 127,933 (23,958)
Cash and cash equivalents at beginning of period 180,143 151,622
Cash and cash equivalents at end of period 308,076 127,664
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 $ 8,924 $ 1,168