Financial Performance - For the fiscal year ended November 30, 2024, the company reported revenue of 58,452,436thousand[284].−Totalrevenueforfiscalyear2024was58,452,436, a 1.56% increase from 57,555,416in2023[291].−Grossprofitforfiscalyear2024was3,981,306, slightly up from 3,956,829in2023[291].−Netincomeforfiscalyear2024increasedto689,091, representing a 9.87% rise compared to 626,911in2023[291].−Basicearningspershareforfiscalyear2024was7.99, up from 6.72in2023,reflectinga18.871,194,211, up 10.77% from 1,078,032in2023[424].−Thecompanyreportedacomprehensiveincomeof551,222 for fiscal year 2024, down from 839,373in2023[293].AssetsandLiabilities−Totalcurrentassetsroseto21,324,696 in 2024, compared to 20,084,436in2023,markinga6.1822,239,045 in 2024, up from 21,229,632in2023,indicatinga4.768,035,434 in 2024 from 8,183,182in2023,adeclineof1.8130,274,479 in 2024 from 29,412,814in2023,reflectingagrowthof2.931.22 billion in 2024, compared to 1.41billionin2023,reflectingadecreaseof16.3193.8 million in 2024, compared to 156.4millionin2023,representinganincreaseof23.91.06 billion, up from 1.03billionattheendof2023[299].−Thecompanyincurredinterestpaidonborrowingsof358.8 million in 2024, compared to 318.2millionin2023,reflectinganincreaseof12.81.3 billion of outstanding term loan debt subject to variable interest rates[263]. - The company had 3.2billioninobligationsunderSupplierFinanceProgramsasofNovember30,2024,upfrom2.7 billion in 2023[423]. - The TD SYNNEX Term Loan had 581.3millionoutstandingasofNovember30,2024,downfrom1.4 billion in 2023[412]. - The weighted average interest rate on other short-term borrowings was 7.91% as of November 30, 2024, compared to 7.52% in 2023[419]. Taxation - The company reported a total tax provision of 176,944for2024,comparedto162,597 in 2023[432]. - The effective income tax rate for the Company was 20.4% for fiscal year 2024, a slight decrease from 20.6% in 2023 and 21.3% in 2022[436]. - The gross unrecognized tax benefits at the end of fiscal year 2024 were 16.8million,downfrom18.9 million in 2023[442]. Shareholder Returns - The company declared cash dividends of 1.60persharein2024,upfrom1.40 per share in 2023[296]. - Dividends paid increased to 138.1millionin2024from130.4 million in 2023, marking a rise of 5.2%[299]. - The company authorized a new 2.0billionsharerepurchaseprograminMarch2024,supplementingtheremaining196.7 million from the previous program[378]. - The company repurchased a total of 5,547 thousand shares under the share repurchase program at a weighted-average price of 110.31pershare[381].RiskManagement−Theestimatedmaximumpotentialone−daylossinfairvalueduetoforeignexchangeratefluctuationsisapproximately5.4 million for November 30, 2024[261]. - The company is exposed to foreign currency risk and manages it using a combination of forward contracts for major currencies[260]. - The company’s interest rate risk management objective is to limit the impact of interest rate changes on earnings and cash flows[262]. - The fair value of foreign exchange forward contracts not designated as hedges increased to 1,962,852,000asofNovember30,2024,from1,456,110,000 in the previous year[397]. Internal Controls and Compliance - The company maintains effective internal control over financial reporting as of November 30, 2024, based on criteria established in the Internal Control - Integrated Framework[272]. - The company’s internal control over financial reporting was audited by KPMG LLP, confirming its effectiveness[273]. - The company was in compliance with all material covenants for its credit arrangements as of November 30, 2024[422]. Miscellaneous - The Company has not identified any goodwill impairment for the years presented[320]. - The Company has a contingent liability related to inventory financing agreements, but believes the likelihood of a material loss is remote[447]. - The Company successfully appealed a fine from the French Competition Authority, reducing it from €76.1 million to €24.9 million[448].
TD SYNNEX (SNX)2025-01-24 21:01