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CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
May 31, 2020
May 31, 2019
Operating activities    
Net income $ 340.6 $ 297.4
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 81.5 79.0
Stock-based compensation 27.1 22.8
Income from unconsolidated operations (20.6) (19.6)
Changes in operating assets and liabilities (89.2) (83.6)
Dividends from unconsolidated affiliates 16.1 18.2
Net cash flow provided by operating activities 355.5 314.2
Investing activities    
Capital expenditures (including software) (87.1) (54.1)
Other investing activities 1.9 0.1
Net cash flow used in investing activities (85.2) (54.0)
Financing activities    
Short-term borrowings, net (514.5) 45.6
Long-term debt borrowings 495.0 0.0
Payment of debt issuance costs (1.1)  
Long-term debt repayments (41.7) (93.6)
Proceeds from exercised stock options 26.7 48.0
Taxes withheld and paid on employee stock awards (9.2) (10.1)
Common stock acquired by purchase (20.8) (59.8)
Dividends paid (164.9) (150.8)
Net cash flow used in financing activities (230.5) (220.7)
Effect of exchange rate changes on cash and cash equivalents (10.2) 3.3
Increase in cash and cash equivalents 29.6 42.8
Cash and cash equivalents at beginning of period 155.4 96.6
Cash and cash equivalents at end of period $ 185.0 $ 139.4