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Consolidated Cash Flow Statement - USD ($)
$ in Millions
12 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2023
Operating activities      
Net income $ 789.4 $ 788.5 $ 680.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 231.3 208.8 199.3
Stock-based compensation 46.2 47.4 63.4
Loss on the sale of a business 0.0 0.0 1.2
(Gain) loss on sale of assets 0.0 (2.1) 0.2
Deferred income tax benefit (6.5) (30.3) (5.4)
Income from unconsolidated operations (72.2) (74.2) (56.4)
Changes in operating assets and liabilities (net of effect of businesses acquired and disposed)      
Trade accounts receivable (14.7) (20.5) 3.4
Inventories 23.9 (125.0) 225.0
Trade accounts payable 1.2 135.1 (68.1)
Other assets and liabilities (94.2) (72.6) 109.0
Dividends received from unconsolidated affiliates 57.8 66.8 85.1
Net cash flow provided by operating activities 962.2 921.9 1,237.3
Investing activities      
Acquisition of business (34.1) 0.0 0.0
Proceeds from sale of business 0.0 0.0 1.0
Capital expenditures (including software) (221.8) (274.9) (263.9)
Other investing activities 0.7 5.9 2.4
Net cash flow used in investing activities (255.2) (269.0) (260.5)
Financing activities      
Short-term borrowings (repayments), net (101.4) 211.1 (964.6)
Long-term debt borrowings 2.7 495.5 496.4
Payment of debt issuance costs 0.0 (1.0) (1.1)
Long-term debt repayments (267.9) (801.1) (268.1)
Proceeds from exercised stock options 20.9 17.5 16.6
Taxes withheld and paid on employee stock awards (13.2) (9.0) (10.8)
Common stock acquired by purchase (34.8) (53.1) (35.7)
Dividends paid (483.0) (451.0) (418.5)
Other financing activities 35.8 8.0 1.6
Net cash flow used in financing activities (840.9) (583.1) (1,184.2)
Effect of exchange rate changes on cash and cash equivalents 43.7 (50.3) 40.0
Increase (decrease) in cash and cash equivalents (90.2) 19.5 (167.4)
Cash and cash equivalents at beginning of year 186.1 166.6 334.0
Cash and cash equivalents at end of year $ 95.9 $ 186.1 $ 166.6