v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
May 31, 2026
May 31, 2025
Cash flows from operating activities:    
Net income $ 661,003 $ 352,458
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 209,954 203,305
Share-based compensation 41,520 33,811
Gain on investments (33,107) 0
Provision for doubtful accounts 23,193 10,942
Other 198 5,952
Changes in operating assets and liabilities, net of acquisition of businesses:    
Accounts receivable, net (1,283,884) 460,250
Receivables from vendors, net 139,243 (7,041)
Inventories (4,363,864) (214,637)
Accounts payable 3,488,208 (870,147)
Other operating assets and liabilities (43,941) (149,708)
Net cash used in operating activities (1,161,477) (174,815)
Cash flows from investing activities:    
Purchases of property and equipment (99,969) (71,768)
Acquisition of businesses, net of cash acquired (7,786) (4,459)
Proceeds from sale of investments in equity securities 42,734 0
Other (441) 5,149
Net cash used in investing activities (65,462) (71,078)
Cash flows from financing activities:    
Dividends paid (77,270) (74,118)
Proceeds from reissuance of treasury stock 22,328 12,513
Repurchases of common stock (192,097) (249,328)
Repurchases of common stock for tax withholdings on equity awards (6,682) (8,832)
Net borrowings on revolving credit loans 138,479 208,708
Principal payments on long-term debt (14,557) (15,541)
Other (2,103) 0
Net cash used in financing activities (131,902) (126,598)
Effect of exchange rate changes on cash and cash equivalents 17,633 80,212
Net decrease in cash and cash equivalents (1,341,208) (292,279)
Cash and cash equivalents at beginning of period 2,435,389 1,059,378
Cash and cash equivalents at end of period $ 1,094,181 $ 767,099