XML 77 R29.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Nov. 30, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]  
Schedule of Ranges of Estimated Useful Lives For Property and Equipment The ranges of estimated useful lives for property and equipment categories are as follows:

 

Equipment and Furniture

 

3 - 10 years

Software

 

3 - 7 years

Leasehold improvements

 

2 - 15 years

Buildings and building improvements

 

10 - 40 years

 

Schedule of Amortizable Intangible Assets

Intangible assets consist primarily of customer relationships and lists, vendor lists, technology and trade names. Amortization is based on the pattern in which the economic benefits of the intangible assets will be consumed or on a straight line basis when the consumption pattern is not apparent over the following useful lives:

 

Customer relationships and lists

 

4 - 15 years

Vendor lists

 

10 years

Technology

 

5 years

Other intangible assets

 

1- 10 years

 

Accounting Standards Update 2014-09  
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]  
Effects of Adoption on Consolidated Balance Sheet, Consolidated Statements of Operations and Cash Flows

The effects of adoption on the Company’s Consolidated Balance Sheet as of November 30, 2018, the Company’s Consolidated Statements of Operations and the Consolidated Statements of Cash Flows for fiscal years 2018 and 2017 were as follows:

 

 

 

As of November 30, 2018

 

Consolidated Balance Sheet Caption

 

As reported

 

 

Adjustments for

ASC Topic 606

 

 

As adjusted

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable, net(1)

 

$

3,855,431

 

 

$

(215,000

)

 

$

3,640,431

 

Receivables from vendors, net

 

 

 

 

 

351,744

 

 

 

351,744

 

Inventories

 

 

2,518,319

 

 

 

(125,760

)

 

 

2,392,559

 

Other current assets(1)

 

 

261,536

 

 

 

52,080

 

 

 

313,616

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

 

 

 

 

Other accrued liabilities

 

$

613,449

 

 

$

59,186

 

 

$

672,635

 

Deferred tax liabilities

 

 

206,024

 

 

 

892

 

 

 

206,916

 

Retained earnings

 

 

2,195,635

 

 

 

2,986

 

 

 

2,198,621

 

 

 

 

 

(1)

Amounts “As adjusted” may not agree to the Consolidated Balance Sheet due to other reclassifications to conform to current period presentation.

 

 

 

 

Year Ended November 30, 2018

 

 

Year Ended November 30, 2017

 

Consolidated Statements of Operations

 

As reported

 

 

Adjustments for

ASC Topic 606

 

 

As adjusted

 

 

As reported

 

 

Adjustments for

ASC Topic 606

 

 

As adjusted

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Products

 

$

17,608,897

 

 

$

(285,819

)

 

$

17,323,078

 

 

$

15,070,871

 

 

$

(274,572

)

 

$

14,796,299

 

    Services

 

 

2,444,867

 

 

 

 

 

 

2,444,867

 

 

 

1,974,829

 

 

 

 

 

 

1,974,829

 

Total revenue

 

 

20,053,764

 

 

 

(285,819

)

 

 

19,767,945

 

 

 

17,045,700

 

 

 

(274,572

)

 

 

16,771,128

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Products

 

 

(16,611,595

)

 

 

285,019

 

 

 

(16,326,576

)

 

 

(14,262,094

)

 

 

272,944

 

 

 

(13,989,150

)

    Services

 

 

(1,514,470

)

 

 

 

 

 

(1,514,470

)

 

 

(1,232,666

)

 

 

 

 

 

(1,232,666

)

Gross profit

 

 

1,927,699

 

 

 

(800

)

 

 

1,926,899

 

 

 

1,550,940

 

 

 

(1,628

)

 

 

1,549,312

 

Selling, general and administrative expenses

 

 

(1,376,664

)

 

 

 

 

 

(1,376,664

)

 

 

(1,041,975

)

 

 

 

 

 

(1,041,975

)

Operating income

 

 

551,036

 

 

 

(800

)

 

 

550,236

 

 

 

508,965

 

 

 

(1,628

)

 

 

507,337

 

Interest expense and finance charges, net

 

 

(84,675

)

 

 

 

 

 

(84,675

)

 

 

(45,357

)

 

 

 

 

 

(45,357

)

Other income (expense), net

 

 

(8,984

)

 

 

 

 

 

(8,984

)

 

 

1,123

 

 

 

 

 

 

1,123

 

Income before income taxes

 

 

457,377

 

 

 

(800

)

 

 

456,577

 

 

 

464,731

 

 

 

(1,628

)

 

 

463,103

 

Provision for income taxes

 

 

(156,779

)

 

 

183

 

 

 

(156,596

)

 

 

(163,558

)

 

 

695

 

 

 

(162,863

)

Net income

 

$

300,598

 

 

$

(617

)

 

$

299,981

 

 

$

301,173

 

 

$

(933

)

 

$

300,240

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Basic

 

$

7.23

 

 

$

(0.02

)

 

$

7.21

 

 

$

7.54

 

 

$

(0.02

)

 

$

7.52

 

    Diluted

 

$

7.19

 

 

$

(0.02

)

 

$

7.17

 

 

$

7.51

 

 

$

(0.03

)

 

$

7.48

 

 

 

 

Year Ended November 30, 2018

 

Consolidated Statement of Cash Flows Caption

 

As reported

 

 

Adjustments for

ASC Topic 606

 

 

As adjusted

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

300,598

 

 

$

(617

)

 

$

299,981

 

Adjustments to reconcile net income to cash provided by operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred income taxes

 

 

(46,888

)

 

 

(184

)

 

 

(47,072

)

Changes in operating assets and liabilities, net of acquisition of businesses:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivables, net

 

 

(512,984

)

 

 

61,796

 

 

 

(451,188

)

Receivables from vendors, net

 

 

 

 

 

(63,831

)

 

 

(63,831

)

Inventories

 

 

(367,899

)

 

 

1,507

 

 

 

(366,392

)

Other operating assets and liabilities

 

 

94,138

 

 

 

1,329

 

 

 

95,466

 

Net cash provided by operating activities

 

 

100,706

 

 

 

 

 

 

100,706

 

 

 

 

Year Ended November 30, 2017

 

Consolidated Statement of Cash Flows Caption

 

As reported

 

 

Adjustments for

ASC Topic 606

 

 

 

 

As adjusted

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

301,173

 

 

$

(933

)

 

 

 

$

300,240

 

Adjustments to reconcile net income to cash provided by operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred income taxes

 

 

(25,221

)

 

 

(695

)

 

 

 

 

(25,916

)

Changes in operating assets and liabilities, net of acquisition of businesses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivables, net

 

 

(478,273

)

 

 

101,902

 

 

 

 

 

(376,371

)

Receivables from vendors, net

 

 

 

 

 

(83,477

)

 

 

 

 

(83,477

)

Inventories

 

 

(243,332

)

 

 

(18,091

)

 

 

 

 

(261,423

)

Other operating assets and liabilities

 

 

99,160

 

 

 

1,294

 

 

 

 

 

100,454

 

Net cash provided by operating activities

 

 

176,764

 

 

 

 

 

 

 

 

176,764