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CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Operating activities    
Net income $ 154.9 $ 161.8
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 49.0 48.1
Stock-based compensation 11.1 14.2
Amortization of inventory fair value adjustments associated with acquisitions 0.0 6.3
Income from unconsolidated operations (9.3) (13.3)
Trade accounts receivable 33.2 31.0
Inventories (49.9) (21.5)
Trade accounts payable 5.2 (73.6)
Other assets and liabilities (185.5) (192.2)
Dividends from unconsolidated affiliates 9.2 7.0
Net cash flow provided by (used in) operating activities 17.9 (32.2)
Investing activities    
Acquisition of businesses (net of cash acquired) 0.0 (706.6)
Capital expenditures (including software) (43.7) (48.6)
Net cash flow used in investing activities (43.7) (755.2)
Financing activities    
Short-term borrowings, net 97.3 (292.4)
Long-term debt borrowings 0.0 1,000.4
Payment of debt issuance costs 0.0 (1.1)
Long-term debt repayments (3.5) (1.8)
Proceeds from exercised stock options 30.3 3.6
Taxes withheld and paid on employee stock awards (12.0) (5.1)
Common stock acquired by purchase (8.7) (0.1)
Dividends paid (99.0) (90.8)
Net cash flow provided by financing activities 4.4 612.7
Effect of exchange rate changes on cash and cash equivalents 8.1 7.2
Decrease in cash and cash equivalents (13.3) (167.5)
Cash and cash equivalents at beginning of period 351.7 423.6
Cash and cash equivalents at end of period $ 338.4 $ 256.1