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CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Operating activities    
Net income $ 573.3 $ 461.3
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 157.5 150.4
Stock-based compensation 39.9 51.1
Deferred income tax expense (benefit) (37.2) 1.7
Income from unconsolidated operations (56.0) (37.7)
Trade accounts receivable (72.2) (22.9)
Inventories (108.9) 139.7
Trade accounts payable 112.3 (90.4)
Other assets and liabilities (202.1) (43.6)
Dividends from unconsolidated affiliates 56.6 50.5
Net cash flow provided by operating activities 463.2 660.1
Investing activities    
Capital expenditures (including software) (189.3) (187.2)
Other investing activities 0.2 2.4
Net cash flow used in investing activities (189.1) (184.8)
Financing activities    
Short-term borrowings, net 908.6 (850.0)
Long-term debt borrowings 0.0 496.4
Payment of debt issuance costs 0.0 (1.1)
Long-term debt repayments (752.8) (12.7)
Proceeds from exercised stock options 12.8 15.9
Taxes withheld and paid on employee stock awards (8.9) (10.8)
Common stock acquired by purchase (29.0) (26.7)
Dividends paid (338.3) (313.8)
Other financing activities 1.7 1.6
Net cash flow used in financing activities (205.9) (701.2)
Effect of exchange rate changes on cash and cash equivalents (34.0) 46.6
Increase (decrease) in cash and cash equivalents 34.2 (179.3)
Cash and cash equivalents at beginning of period 166.6 334.0
Cash and cash equivalents at end of period $ 200.8 $ 154.7