XML 16 R5.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
May 31, 2026
May 31, 2025
Operating activities    
Net income $ 1,182.5 $ 339.4
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 136.5 110.9
Stock-based compensation 29.3 29.6
Amortization of inventory fair value adjustments associated with acquisition 15.0 0.0
Deferred income tax benefit (11.3) (12.1)
Income from unconsolidated operations (22.7) (39.2)
Gain on remeasurement of previously held equity interest (866.8) 0.0
Trade accounts receivable 129.4 23.2
Inventories (6.3) (19.1)
Trade accounts payable 30.2 (74.5)
Other assets and liabilities (199.6) (219.4)
Dividends from unconsolidated affiliates 14.5 22.6
Net cash flow provided by operating activities 430.7 161.4
Investing activities    
Acquisition of business, net of cash acquired (729.9) (19.8)
Capital expenditures (including software) (75.2) (85.4)
Net cash flow used in investing activities (805.1) (105.2)
Financing activities    
Short-term borrowings, net 945.2 116.0
Long-term debt borrowings (net of debt issuance costs of $1.1) 497.7 0.9
Debt financing fees paid (51.0) 0.0
Long-term debt repayments (504.4) (13.6)
Proceeds from exercised stock options 13.6 13.3
Taxes withheld and paid on employee stock awards (11.9) (12.6)
Common stock acquired by purchase (10.9) (26.5)
Dividends paid (257.9) (241.5)
Dividends paid to joint venture partner (8.4) 0.0
Other financing activities (9.3) 21.1
Net cash flow provided by (used in) financing activities 602.7 (142.9)
Effect of exchange rate changes on cash and cash equivalents 7.0 24.7
Increase (decrease) in cash and cash equivalents 235.3 (62.0)
Cash and cash equivalents at beginning of period 95.9 186.1
Cash and cash equivalents at end of period $ 331.2 $ 124.1