0001803599-24-000011 | 10-K | XBRL Viewer

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SHARE-BASED COMPENSATION - Restricted Stock Awards Summary (Details) - $ / shares shares in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021	Dec. 01, 2020
Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested, beginning balance (in dollars per share)	$ 124.69	$ 109.92
Awards and units vested (in shares)	(513)	(283)	(504)
Awards and units vested (in dollars per share)	$ 122.76	$ 91.62	$ 61.95
Awards and units cancelled/forfeited (in shares)	(114)	(106)	(64)
Awards and units cancelled/forfeited (in dollars per share)	$ 138.88	$ 118.79	$ 84.20
Non-vested, ending balance (in dollars per share)	$ 92.80	$ 124.69	$ 109.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,673	1,395	980	827
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Awards and units granted (in dollars per share)	$ 135.01	$ 139.31	$ 134.65
Stock granted (in shares)	60	510	495
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Awards and units granted (in dollars per share)	$ 74.64	$ 130.98	$ 154.53
Stock granted (in shares)	1,828	294	226
Performance-based units in excess of target
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Awards and units granted (in dollars per share)	$ 159.97
Stock granted (in shares)	17

Organization, Consolidation and Presentation of Financial Statements (Policies)	12 Months Ended
	Nov. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications	Reclassifications Certain amounts in the consolidated financial statements related to the prior years have been reclassified to conform to the current year’s presentation.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Nov. 30, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. The Company evaluates these estimates on a regular basis and bases them on historical experience and on various assumptions that the Company believes are reasonable. Actual results could differ from the estimates.

Segment reporting

Concentrix operations are based on an integrated global delivery model whereby services under a client contract in one location may be provided from delivery centers located in one or more different countries, with a significant portion of the Company’s workforce located in the Philippines and India. Given the homogeneity of technology-infused CX services and the integrated delivery model, the Company operates in a single segment, based on how the chief operating decision maker (“CODM”) views and evaluates the Company’s operations in making operational

and strategic decisions and assessments of financial performance. The Company’s President and Chief Executive Officer has been identified as the CODM.

Cash equivalents

The Company considers all highly liquid debt instruments purchased with an original maturity or remaining maturity at the date of purchase of three months or less to be cash equivalents. Cash equivalents consist principally of money market deposit accounts that are stated at cost, which approximates fair value. The Company is exposed to credit risk in the event of default by financial institutions to the extent that cash balances with financial institutions are in excess of amounts that are insured.

Accounts receivable and allowance for doubtful accounts

Accounts receivable are comprised primarily of amounts owed to the Company by clients and are presented net of an allowance for doubtful accounts. The allowance for doubtful accounts is an estimate to cover the losses resulting from uncertainty regarding collections from customers to make payments for outstanding balances. In estimating the required allowance, the Company considers the overall quality and aging of the accounts receivable and credit evaluations of its clients’ financial condition. The Company also evaluates the collectability of accounts receivable based on specific client circumstances, current economic trends, historical experience with collections and the value and adequacy of any collateral received from clients.

Unbilled receivables

For the majority of service contracts, the Company performs the services prior to billing the client, and this amount is captured as an unbilled receivable included in accounts receivable, net on the consolidated balance sheet. Billing usually occurs in the month after the Company performs the services or in accordance with the specific contractual provisions.

Accounts receivable factoring

Following the combination with Webhelp (as further described in Note 3), the Company has continued Webhelp’s pre-existing factoring program with certain clients to sell accounts receivable under non-recourse agreements in exchange for cash proceeds.

Since the acquisition date through November 30, 2023, the Company sold $312,894 of receivables under these agreements. In some instances, the Company may continue to service the transferred receivables after factoring has occurred. However, any servicing of the trade receivable does not constitute significant continuing involvement and the Company does not carry any material servicing assets or liabilities.

Derivative financial instruments

The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value.

For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of “Accumulated other comprehensive income (loss),” in stockholders’ equity and reclassified into earnings in the same line associated with the forecasted transactions, in the same period or periods during which the hedged transaction affects earnings. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions.

For derivative instruments that are not designated as cash flow hedges, gains and losses on derivative instruments are reported in the consolidated statements of operations in the current period.

Software costs

The Company develops software platforms for internal use. The Company capitalizes costs incurred to develop software subsequent to the software product reaching the application development stage. The Company also capitalizes the costs incurred to extend the life of existing software, or the cost of significant enhancements that are added to the features of existing software. The capitalized development costs primarily comprise payroll costs and related software costs. Capitalized costs are amortized over the economic life of the software using the straight line method.

Property and equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight line method based upon the shorter of the estimated useful lives of the assets, or the lease term of the respective assets, if applicable. Maintenance and repairs are charged to expense as incurred, and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is reflected in operations in the period realized. The ranges of estimated useful lives for property and equipment categories are as follows:


Equipment and furniture			3 - 10 years
Software			3 - 7 years
Leasehold improvements			2 - 15 years
Buildings and building improvements			10 - 39 years

Leases

The Company enters into leases as a lessee for property and equipment in the ordinary course of business. When procuring services, or upon entering into a contract with its clients, the Company determines whether an arrangement contains a lease at its inception. As part of that evaluation, the Company considers whether there is an implicitly or explicitly identified asset in the arrangement and whether the Company, as the lessee, or the client, if the Company is the lessor, has the right to control the use of that asset. When the Company is the lessee, all leases with a term of more than 12 months are recognized as right-of-use (“ROU”) assets and associated lease liabilities in the consolidated balance sheet. Lease liabilities are measured at the lease commencement date and determined using the present value of the lease payments not yet paid, at the Company’s incremental borrowing rate, which approximates the rate at which the Company would borrow on a secured basis in the country where the lease was executed. The interest rate implicit in the lease is generally not determinable in the transactions where the Company is the lessee. The ROU asset equals the lease liability adjusted for any initial direct costs, prepaid rent and lease incentives. The Company’s variable lease payments generally relate to payments tied to various indexes, non-lease components and payments above a contractual minimum fixed amount.

Operating leases are included in other assets, net, other accrued liabilities and other long-term liabilities in the consolidated balance sheet. Substantially all of the Company’s leases are classified as operating leases. The Company recognizes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company made a policy election to not recognize leases with a lease term of 12 months or less in the consolidated balance sheet. Lease expenses are recorded within selling, general, and administrative expenses in the consolidated statements of operations. Operating lease payments are presented within “Cash flows from operating activities” in the consolidated statements of cash flows.

For all asset classes, the Company has elected the lessee practical expedient to combine lease and non-lease components (e.g., maintenance services) and account for the consolidated unit as a single lease component. Variable lease payments are recognized in the periods in which the obligations for those payments are incurred.

Business combinations

The purchase price of a business combination is allocated to the assets acquired, liabilities assumed, and non-controlling interests in the acquired entity generally based on their fair values at the acquisition date. The excess of the fair value of purchase consideration over the fair value of these assets acquired, liabilities assumed and non-controlling interests in the acquired entity is recorded as goodwill. The primary items that generate goodwill include the value of the synergies between the acquired entity and the Company and the value of the acquired assembled workforce, neither of which qualify for recognition as an intangible asset. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. The Company includes the results of operations of the acquired business in the consolidated financial statements prospectively from the date of acquisition. Acquisition-related charges are recognized separately from the business combination and are expensed as incurred. These charges primarily include direct third-party professional and legal fees and integration-related costs.

Goodwill and intangible assets

The Company tests goodwill for impairment annually at the reporting unit level in the fiscal fourth quarter or more frequently if events or changes in circumstances indicate that it may be impaired. For purposes of the goodwill impairment test, the Company can elect to perform a quantitative or qualitative analysis. If the qualitative analysis is elected, goodwill is tested for impairment at the reporting unit level by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. The factors that are considered in the qualitative analysis include: macroeconomic conditions; industry and market considerations; cost factors such as increases in labor, or other costs that would have a negative effect on earnings and cash flows; and other relevant entity-specific events and information.

If the Company elects to perform or is required to perform a quantitative analysis, then the reporting unit’s carrying value is compared to its fair value. As part of this analysis, the Company reconciles the fair value of its reporting unit to its market capitalization. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value and the excess is recognized as an impairment loss.

No goodwill impairment has been identified for any of the fiscal years presented in these consolidated financial statements.

The values assigned to intangible assets are based on estimates and judgment regarding expectations for the length of customer relationships and the success of the life cycle of technologies acquired in a business combination. Purchased intangible assets are amortized over the useful lives based on estimates of the use of the economic benefit of the asset or by using the straight line method.

Intangible assets consist of customer relationships, technology, trade names and non-compete agreements. Amortization is based on the pattern over which the economic benefits of the intangible assets will be consumed or, when the consumption pattern is not apparent, by using the straight line method over the following useful lives:


Customer relationships			10 - 15 years
Technology			5 years
Trade names			3 - 5 years
Non-compete agreements			3 years

Impairment of long-lived assets

The Company reviews the recoverability of its long-lived assets, such as intangible assets subject to amortization, property and equipment and certain other assets, including lease right-of-use assets, when events or changes in circumstances occur that indicate the carrying value of the asset or asset group may not be recoverable.

The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows, undiscounted and without interest charges, of the related operations. If these cash flows are less than the carrying value of such assets, an impairment loss is recognized for the difference between estimated fair value and carrying value.

Concentration of credit risk

Financial instruments that potentially subject the Company to significant concentration of credit risk consist principally of cash and cash equivalents, accounts receivable and derivative instruments.

The Company’s cash and cash equivalents and derivative instruments are transacted and maintained with financial institutions with high credit standing, and their compositions and maturities are regularly monitored by management. Through November 30, 2023, the Company has not experienced any credit losses on such deposits and derivative instruments.

Accounts receivable comprise amounts due from clients. The Company performs ongoing credit evaluations of its clients’ financial condition and limits the amount of credit extended when deemed necessary, but generally requires no collateral. The Company also maintains allowances for potential credit losses. In estimating the required allowances, the Company takes into consideration the overall quality and aging of its receivable portfolio and specifically identified client risks.

In fiscal years 2023 and 2022, no client accounted for more than 10% of the Company’s consolidated revenue. In fiscal year 2021, one client accounted for 11.9% of the Company’s consolidated revenue.

As of November 30, 2023, no client comprised more than 10% of the Company’s total accounts receivable balance. As of November 30, 2022, one client comprised 12.4% of the Company’s total accounts receivable balance.

Revenue recognition

The Company generates revenue primarily from the provision of CX solutions and technology to its clients. The Company recognizes revenue from services contracts over time as the promised services are delivered to clients for an amount that reflects the consideration to which the Company is entitled in exchange for those services. The Company recognizes revenue over time as the client simultaneously receives and consumes the benefits provided by the Company as the Company performs the services. The Company accounts for a contract with a client when it has written approval, the contract is committed, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is presented net of taxes collected from clients and remitted to government authorities. The Company generally invoices a client after performance of services, or in accordance with specific contractual provisions. Payments are due as per contract terms and do not contain a significant financing component.

The Company determines whether the services performed during the initial phases of an arrangement, such as setup activities, are distinct. In most cases, the arrangement is a single performance obligation comprised of a series of distinct services that are substantially the same and that have the same pattern of transfer (i.e., distinct days of service).

Service contracts are most significantly based on a fixed unit-price per transaction or other objective measure of output. Revenue on unit-price transactions is recognized over time using an objective measure of output such as staffing hours or the number of transactions processed by service advisors. Certain contracts may be based on a fixed price. Revenue on fixed price contracts is recognized over time using an input measure or on a straight-line basis over the term of the contract as the services are provided based on the nature of the contract. Client contract terms can range from less than one year to more than five years.

Certain client contracts include incentive payments from the client upon achieving certain agreed-upon service levels and performance metrics or service level agreements that could result in credits or refunds to the client.

Revenue relating to such arrangements is accounted for as variable consideration when the likely amount of revenue to be recognized can be estimated to the extent that it is probable that a significant reversal of any incremental revenue will not occur.

Cost of revenue

Recurring direct operating costs for services are recognized as incurred. Cost of services revenue consists primarily of personnel costs and transition and initial set up costs.

Selling, general and administrative expenses

Selling, general and administrative expenses are charged to income as incurred. Expenses of promoting and selling products and services are classified as selling expense and include such items as compensation, sales commissions and travel. General and administrative expenses include such items as compensation, cost of delivery centers, legal and professional costs, office supplies, non-income taxes, insurance and utility expenses. In addition, selling, general and administrative expenses include other operating items such as allowances for credit losses, depreciation and amortization of intangible assets.

Advertising

Costs related to advertising and service promotion expenditures are charged to “Selling, general and administrative expenses” as incurred. To date, net costs related to advertising and promotion expenditures have not been material.

Income taxes

The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements using enacted tax rates and laws that will be in effect when the difference is expected to reverse. Tax on global low-taxed intangible income is accounted for as a current expense in the period in which the income is includable in a tax return using the “period cost” method. Valuation allowances are provided against deferred tax assets that are not likely to be realized.

The Company recognizes tax benefits from uncertain tax positions only if that tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The Company recognizes interest and penalties related to unrecognized tax benefits in the provisions for income taxes.

Foreign currency translations

The functional currencies of the legal entities’ financial statements included in these consolidated financial statements are the local currencies of the legal entities and are translated into U.S. dollars for consolidation as follows: assets and liabilities at the exchange rate as of the balance sheet date, equity at the historical rates of exchange, and income and expense amounts at the average exchange rate for the month. Translation adjustments resulting from the translation of the legal entities’ accounts are included in “Accumulated other comprehensive income (loss).” Transactions denominated in currencies other than the applicable functional currency are converted to the functional currency at the exchange rate on the transaction date. At period end, monetary assets and liabilities are remeasured to the functional currency using exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are remeasured at historical exchange rates. Gains and losses resulting from foreign currency transactions are included within “Other expense (income), net.”

Other comprehensive income

The primary components of other comprehensive income for the Company include foreign currency translation adjustments arising from the Company’s foreign legal entities, unrealized gains and losses on qualifying hedges, and changes in unrecognized pension and post-retirement benefits.

Share-based compensation

Share-based compensation cost for stock options, restricted stock awards and restricted stock units is determined based on the fair value at the measurement date. The Company recognizes share-based compensation cost as expense for these awards ratably on a straight-line basis over the requisite service period. Share-based compensation for performance-based restricted stock units is measured based on fair value at the initial measurement date and is adjusted each reporting period, as necessary, to reflect changes in management’s assessment of the probability that performance conditions will be satisfied and, for certain awards, for changes in the trading price of the Company’s common stock. The Company recognizes share-based compensation cost associated with its performance-based restricted stock units over the requisite service period if it is probable that the performance conditions will be satisfied. The Company accounts for expense reductions that result from the forfeiture of unvested awards in the period that the forfeitures occur.

Pension and post-retirement benefits

The funded status of the Company’s pension and other post-retirement benefit plans is recognized in the consolidated balance sheets. The funded status is measured as the difference between the fair value of plan assets and the benefit obligation at November 30, the measurement date. For defined benefit pension plans, the benefit obligation is the projected benefit obligation (“PBO”) and, for the other post-retirement benefit plans, the benefit obligation is the accumulated post-retirement benefit obligation (“APBO”). The PBO represents the actuarial present value of benefits expected to be paid upon retirement. For active plans, the present value reflects estimated future compensation levels. The APBO represents the actuarial present value of post-retirement benefits attributed to employee services already rendered. The fair value of plan assets represents the current market value of assets held by an irrevocable trust fund for the sole benefit of participants. The measurement of the benefit obligation is based on the Company’s estimates and actuarial valuations. These valuations reflect the terms of the plans and use participant-specific information such as compensation, age and years of service, as well as certain key assumptions that require significant judgment, including, but not limited to, estimates of discount rates, expected return on plan assets, inflation, rate of compensation increases, interest crediting rates and mortality rates. The assumptions used are reviewed on an annual basis.

Earnings per common share

Basic and diluted earnings per common share are calculated using the two-class method. The two-class method is an earnings allocation proportional to the respective ownership among holders of common stock and participating securities. The Company’s restricted stock awards and, effective in the fourth quarter of fiscal year 2023, restricted stock units are considered participating securities. These restricted stock awards and units are considered participating securities because holders have a non-forfeitable right to receive dividends. Basic earnings per common share is computed by dividing net income attributable to the Company’s common stockholders by the weighted-average common shares outstanding during the period. Diluted earnings per common share also considers the dilutive effect of in-the-money stock options and non-participating securities, calculated using the treasury stock method.

Treasury stock

Repurchases of shares of common stock are accounted for at cost and are included as a component of stockholders’ equity in the consolidated balance sheets.

Accounting pronouncements recently adopted

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued new guidance that simplified the accounting for income taxes. The guidance was effective for annual reporting periods beginning after December 15, 2020, and interim periods within those reporting periods. This standard became effective for the Company in fiscal year 2022 and did not have a material impact on the consolidated financial statements.

In November 2023, the FASB issued accounting standards update (“ASU”) 2023-07, which enhances the disclosures required for reportable segments in annual and interim consolidated financial statements. ASU 2023-07 is effective for the Company for annual reporting periods beginning with the fiscal year ending November 30, 2025 and for interim reporting periods beginning in fiscal year 2026. Early adoption is permitted. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregated information related to income taxes paid. The amendments in ASU 2023-09 are effective for the fiscal year ending November 30, 2026. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements.

No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the consolidated financial statements.

ACQUISITIONS AND DIVESTITURES (Details) - SREV Intangible Assets - USD ($) $ in Thousands	Nov. 30, 2023	Jul. 20, 2022
Technology
Business Acquisition [Line Items]
Intangible assets useful life	5 years
ServiceSource International, Inc
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 40,200
ServiceSource International, Inc \| Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 31,370
Intangible assets useful life		15 years
ServiceSource International, Inc \| Technology
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 5,640
Intangible assets useful life		5 years
ServiceSource International, Inc \| Trade names
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 3,190
Intangible assets useful life		3 years

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Nov. 30, 2023	Jan. 17, 2024	May 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Nov. 30, 2023
Current Fiscal Year End Date	--11-30
Document Transition Report	false
Entity File Number	001-39494
Entity Registrant Name	CONCENTRIX CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1605762
Entity Address, Address Line One	39899 Balentine Drive
Entity Address, City or Town	Newark
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94560
City Area Code	800
Local Phone Number	747-0583
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CNXC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 4,534,950,512
Entity Common Stock, Shares Outstanding (in shares)		66,331,695
Documents Incorporated by Reference	Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K incorporate by reference portions of the Registrant’s definitive proxy statement relating to its 2024 Annual Meeting of Stockholders (the “2024 Proxy Statement”) where indicated. The 2024 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001803599
Entity Address, Address Line Two	Suite 235

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Leases [Abstract]
Operating lease cost	$ 216,774	$ 199,609	$ 203,508
Short-term lease cost	21,802	20,451	15,767
Variable lease cost	58,283	45,997	40,215
Sublease income	(5,394)	(3,226)	(1,738)
Total operating lease cost	$ 291,465	$ 262,831	$ 257,752

EARNINGS PER SHARE (Tables)

12 Months Ended

Nov. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	Fiscal Years Ended November 30,
	2023		2022		2021
Basic earnings per common share:
Net income	$	313,842	$	435,049	$	405,577
Less: net income allocated to participating securities(1)	(6,001)		(6,631)		(5,785)
Net income attributable to common stockholders	$	307,841	$	428,418	$	399,792

Weighted average common shares - basic	53,801		51,353		51,355

Basic earnings per common share	$	5.72	$	8.34	$	7.78

Diluted earnings per common share:
Net income	$	313,842	$	435,049	$	405,577
Less: net income allocated to participating securities(1)	(5,978)		(6,583)		(5,724)
Net income attributable to common stockholders	$	307,864	$	428,466	$	399,853

Weighted-average number of common shares - basic	53,801		51,353		51,355
Effect of dilutive securities:
Stock options and restricted stock units	209		387		559
Weighted-average number of common shares - diluted	54,010		51,740		51,914

Diluted earnings per common share	$	5.70	$	8.28	$	7.70

(1) Restricted stock awards granted to employees by the Company are considered participating securities. Effective in the fourth quarter of fiscal year 2023, restricted stock units granted are also considered participating securities.

ACQUISITIONS AND DIVESTITURES (Details) - SREV Purchase Price Allocation - USD ($) $ in Thousands	Jul. 20, 2022	Dec. 27, 2021	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Goodwill			$ 5,078,668	$ 2,904,402	$ 1,813,502
ServiceSource International, Inc
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 24,355
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	40,097
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	8,112
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use-Assets	29,487
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	40,200
Goodwill	34,910
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	32,701
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	19,649
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	229,511
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	32,865
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	29,487
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	62,352
Business Combination, Consideration Transferred	$ 167,159
PK
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 30,798
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		85,367
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		11,158
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use-Assets		12,288
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		469,300
Goodwill		1,119,068
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		26,449
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		1,754,428
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		78,092
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation		12,288
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		143,798
Business Combination, Consideration Transferred		1,610,630
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		$ 51,418

PENSION AND EMPLOYEE BENEFITS PLANS - Employee Benefit Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Change in Benefit Obligation:
Service costs	$ 6,937	$ 7,031	$ 8,148
Interest costs	10,306	6,828	6,284
Settlements	195	600	485
Change in Plan Assets:
Beginning balance	137,351
Ending balance	126,752	137,351
Pension Plan
Change in Benefit Obligation:
Beginning balance	209,166	266,620
Service costs	6,937	7,031
Interest costs	10,306	6,828
Actuarial gains (1)	(1,942)	(43,290)
Benefits paid	(13,761)	(16,899)
Acquisitions	12,499	0
Settlements	(14,771)	(4,676)
Foreign currency adjustments	131	(6,448)
Ending balance	208,565	209,166	266,620
Change in Plan Assets:
Beginning balance	137,351	161,931
Actual return on assets	2,358	(20,648)
Settlements	(14,771)	(5,195)
Employer contributions	12,143	12,776
Benefits paid	(10,119)	(10,754)
Foreign currency adjustments	(210)	(759)
Ending balance	126,752	137,351	$ 161,931
Funded Status of Plans:
Unfunded status	$ 81,813	$ 71,815

BALANCE SHEET COMPONENTS - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Cash and cash equivalents	$ 295,336	$ 145,382
Restricted cash included in other current assets	221,151	12,081
Cash, cash equivalents and restricted cash	516,487	157,463	$ 183,010	$ 156,351
Funds Held for Clients	$ 218,228	$ 9,679

INCOME TAXES (Tables)

12 Months Ended

Nov. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The sources of income before the provision for income taxes are as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
United States	$	(51,820)	$	7,883	$	66,274
Foreign	460,048		597,120		489,422
Total income before income taxes	$	408,228	$	605,003	$	555,696

Schedule of Components of Income Tax Expense (Benefit)

Provision for income taxes consists of the following:


	Fiscal Years Ended November 30,
	2023		2022		2021
Current tax provision (benefit):
Federal	$	78,961	$	65,423	$	54,809
State	11,064		5,151		8,058
Foreign	126,072		129,613		112,981
	$	216,097	$	200,187	$	175,848
Deferred tax provision (benefit):
Federal	$	(97,371)	$	(19,596)	$	(19,119)
State	(12,850)		(12,303)		(2,798)
Foreign	(11,490)		1,075		(3,812)
	(121,711)		(30,824)		(25,729)
Total income tax provision	$	94,386	$	169,363	$	150,119

Schedule of Deferred Tax Assets and Liabilities

The following presents the breakdown of net deferred tax liabilities after netting by taxing jurisdiction:


	As of November 30,
	2023		2022
Deferred tax assets	$	72,333	$	48,541
Deferred tax liabilities	414,246		105,458
Total net deferred tax liabilities	$	341,913	$	56,917

Net deferred tax liabilities consist of the following:


	As of November 30,
	2023		2022
Assets:
Net operating losses	$	138,930	$	143,593
Accruals and other reserves	55,528		41,119
Depreciation and amortization	73,234		13,319
U.S. interest limitation carry forward	33,318		4,026
Share-based compensation expense	7,867		7,505
Deferred revenue	5,429		4,335
Tax credits	5,082		8,415
Foreign tax credit	915		1,373
Operating lease liabilities	190,348		95,935
Intercompany loans payable	81,654		62,544
Other	37,713		17,616
Gross deferred tax assets	630,018		399,780
Valuation allowance	(117,679)		(103,169)
Total deferred tax assets	$	512,339	$	296,611
Liabilities:
Intangible assets	$	636,194	$	232,930
Unremitted non-US earnings	45,250		31,223
Operating lease right-of-use assets	172,808		89,375
Total deferred tax liabilities	854,252		353,528
Net deferred tax liabilities	$	341,913	$	56,917

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective income tax rate is as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal income tax benefit	(1.0)	%	(1.4)	%	0.6	%
International rate difference	(2.3)	%	(2.7)	%	(1.0)	%
Withholding taxes	2.5	%	1.1	%	0.4	%
Uncertain tax benefits	1.3	%	(0.3)	%	0.3	%
Changes in valuation allowance	1.7	%	1.3	%	(1.6)	%
Impact of inclusion of foreign income (1)	(4.7)	%	9.2	%	2.8	%
Other (2)	4.6	%	(0.2)	%	4.5	%
Effective income tax rate	23.1	%	28.0	%	27.0	%

(1) Represents Subpart F income, Base Erosion and Anti-Abuse Tax (BEAT), and Global Intangible Low-Taxed Income (GILTI) (less Section 250 deduction), net of associated foreign tax credits.

(2) Includes tax costs related to future legal entity restructuring for the fiscal year ended November 30, 2023. Includes additional tax gain on the sale of Concentrix Insurance Solutions for the fiscal year ended November 30, 2021.

Schedule of Unrecognized Tax Benefits Roll Forward

The aggregate changes in the balances of gross unrecognized tax benefits, excluding accrued interest and penalties, during fiscal years 2023, 2022, and 2021 were as follows:


Balance as of November 30, 2020	$	47,913
Additions based on tax positions related to the current year	3,602
Reductions for tax positions of prior years	(1,638)
Settlements	(2,108)
Lapse of statute of limitations	(426)
Changes due to translation of foreign currencies	104
Balance as of November 30, 2021	47,447
Additions based on tax positions related to the current year	42,749
Settlements	(4,882)
Lapse of statute of limitations	(14,351)
Balance as of November 30, 2022	70,963
Additions based on tax positions related to the current year	5,819
Additions based on tax positions related to the prior year / acquisition	6,071
Lapse of statute of limitations	(4,938)
Changes due to translation of foreign currencies	1,407
Balance as of November 30, 2023	$	79,322

BALANCE SHEET COMPONENTS - Allowance for Doubtful Trade Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 4,797	$ 5,421	$ 8,963
Net additions (reductions)	10,236	3,329	(202)
Accounts Receivable, Allowance for Credit Loss, Writeoff	(2,500)	(3,953)	(3,340)
Ending Balance	$ 12,533	$ 4,797	$ 5,421

SHARE-BASED COMPENSATION

12 Months Ended

Nov. 30, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION:

In November 2020, in connection with the spin-off, TD SYNNEX, as sole stockholder of Concentrix, approved the Concentrix Corporation 2020 Stock Incentive Plan (the “Concentrix Stock Incentive Plan”) and the Concentrix Corporation 2020 Employee Stock Purchase Plan (the “Concentrix ESPP”), each to be effective upon completion of the spin-off. 4,000 shares of Concentrix common stock were reserved for issuance under the Concentrix Stock Incentive Plan, and 1,000 shares of Concentrix common stock were authorized for issuance under the Concentrix ESPP. In December 2021 and 2022, respectively, 523 and 520 additional shares of Concentrix common stock were reserved for issuance under the Concentrix Stock Incentive Plan resulting from an automatic annual increase pursuant to the terms of the plan.

The Company recorded share-based compensation expense in the consolidated statements of operations for fiscal years 2023, 2022 and 2021 as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
Total share-based compensation	$	62,493	$	47,516	$	36,762
Tax benefit recorded in the provision for income taxes	(15,623)		(12,069)		(9,234)
Effect on net income	$	46,870	$	35,447	$	27,528

Share-based compensation expense is included in selling, general and administrative expenses in the consolidated statements of operations.

Employee Stock Options

The Company uses the Black-Scholes valuation model to estimate the fair value of stock options. The Black-Scholes option-pricing model was developed for use in estimating the fair value of short-lived exchange traded options that have no vesting restrictions and are fully transferable. In addition, option-pricing models require the input of subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The stock options have ten-year terms and vesting terms of five years.

A summary of the changes in the employee stock options during fiscal years 2021, 2022, and 2023 is presented below:


	Options Outstanding
	Number of shares (in thousands)	Weighted- average exercise price per share
Balance as of December 1, 2020 (converted from former parent stock options in connection with the spin-off) (1)	684	$	45.84
Options granted	26	119.72
Options exercised	(269)	43.34
Balance as of November 30, 2021	441	51.75
Options granted	—	—
Options issued in conversion of certain vested PK stock options (2)	119	45.81
Options exercised	(165)	46.38
Balance as of November 30, 2022	395	52.60
Options granted	—	—
Options exercised	(100)	45.50
Options cancelled	(1)	30.70
Balance as of November 30, 2023	294	$	54.45

(1)Amounts represent Concentrix awards, including those held by TD SYNNEX employees.

(2)Amounts represent the issuance of vested Concentrix stock options that were issued in conversion of certain vested PK stock options that were assumed by Concentrix pursuant to the merger agreement with PK.

As of November 30, 2023, 294 options were outstanding with a weighted-average life of 4.85 years and an aggregate pre-tax intrinsic value of $12,326. As of November 30, 2023, 262 options were vested and exercisable with a weighted-average life of 4.68 years, a weighted-average exercise price of $51.87 per share, and an aggregate pre-tax intrinsic value of $11,431.

As of November 30, 2023, the unamortized share-based compensation expense related to unvested stock options under the Concentrix Stock Incentive Plan was $538, which will be recognized over an estimated weighted-average amortization period of 1.54 years.

Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units

The fair value of restricted stock awards and restricted stock units granted under the Concentrix Stock Incentive Plan in fiscal year 2023 were determined based on the trading price of the Company’s common stock on the date of grant. The awards are expensed on a straight line basis over the vesting term, typically three or four years. The holders of restricted stock awards are entitled to the same voting, dividend and other rights as the Company’s common stockholders.

In fiscal years 2023 and 2022, the Company granted performance-based restricted stock units to the Company’s senior executive team. The performance-based restricted stock units will vest, if at all, upon the achievement of certain annual financial targets during the three-year periods ending November 30, 2025 and November 30, 2024, respectively.

The Company granted performance-based restricted stock units in fiscal year 2021. These performance-based restricted stock units vested during fiscal year 2023 upon achievement of certain annual financial targets during the three-year period ending November 30, 2023.

A summary of the changes in the non-vested restricted stock awards, restricted stock units, and performance-based stock units during fiscal years 2021, 2022, and 2023, including the conversion of former parent awards and stock units previously discussed, is presented below:


	Number of shares (in thousands)	Weighted-average, grant-date fair value per share
Balance as of December 1, 2020 (converted from former parent awards and units in connection with the spin-off) (1)	827	$	51.53
Awards granted	495	134.65
Units granted (2)	226	154.53
Awards and units vested	(504)	61.95
Awards and units cancelled/forfeited	(64)	84.20
Non-vested as of November 30, 2021	980	109.92
Awards granted	510	139.31
Units granted (2)	294	130.98
Awards and units vested	(283)	91.62
Awards and units cancelled/forfeited	(106)	118.79
Non-vested as of November 30, 2022	1,395	124.69
Awards granted	60	135.01
Units granted (2)	1,828	74.64
Performance-based units vested in excess of target (3)	17	159.97
Awards and units vested	(513)	122.76
Awards and units cancelled/forfeited	(114)	138.88
Non-vested as of November 30, 2023	2,673	$	92.80

(1)Amounts represent Concentrix awards, including those held by TD SYNNEX employees.

(2)For performance-based restricted stock units, the target number of shares that can be awarded upon full vesting of the grants is included.

(3)Amounts represent performance-based awards that vested in excess of the target number of shares for the fiscal year 2021 performance-based grants.

As of November 30, 2023, there was $211,603 of total unamortized share-based compensation expense related to non-vested restricted stock awards, restricted stock units and performance-based restricted stock units granted under the Concentrix Stock Incentive Plan. That cost is expected to be recognized over an estimated weighted-average amortization period of 2.65 years.

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets Future Amortization Expense (Details) - USD ($)	Nov. 30, 2023	Nov. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 462,969,000
2025	430,917,000
2026	383,247,000
2027	289,852,000
2028	245,713,000
Thereafter	992,267,000
Net amounts	$ 2,804,965,000	$ 985,572,000

DERIVATIVE INSTRUMENTS

12 Months Ended

Nov. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS:

In the ordinary course of business, the Company is exposed to foreign currency risk and credit risk. The Company enters into transactions, and owns monetary assets and liabilities, that are denominated in currencies other than the legal entity’s functional currency. The Company may enter into forward contracts, option contracts, or other derivative instruments to offset a portion of the risk on expected future cash flows, earnings, net investments in certain non-U.S. legal entities and certain existing assets and liabilities. However, the Company may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign currency exchange or interest rates. Generally, the Company does not use derivative instruments to cover equity risk and credit risk. The Company’s hedging program is not used for trading or speculative purposes.

All derivatives are recognized on the consolidated balance sheets at their fair values. Changes in the fair value of derivatives are recorded in the consolidated statements of operations, or as a component of AOCI in the consolidated balance sheets, as discussed below.

Cash Flow Hedges

To protect gross margins from fluctuations in foreign currency exchange rates, certain of the Company’s legal entities with functional currencies that are not U.S. dollars may hedge a portion of forecasted revenue or costs not denominated in the entities’ functional currencies. These instruments mature at various dates through November 2025. Gains and losses on cash flow hedges are recorded in AOCI until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of foreign currency revenue are recognized as a component of “Revenue” in the same period as the related revenue is recognized, and deferred gains and losses related to cash flow hedges of foreign currency costs are recognized as a component of “Cost of revenue” or “Selling, general and administrative expenses” in the same period as the related costs are recognized. Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent two-month time period. Deferred gains and losses in AOCI associated with such derivative instruments are reclassified into earnings in the period of de-designation. Any subsequent changes in fair value of such derivative instruments are recorded in earnings unless they are re-designated as hedges of other transactions.

Non-Designated Derivatives

The Company uses short-term forward contracts to offset the foreign exchange risk of assets and liabilities denominated in currencies other than the functional currencies of the Company’s legal entities that own the assets or liabilities. These contracts, which are not designated as hedging instruments, mature or settle within twelve months. Derivatives that are not designated as hedging instruments are adjusted to fair value through earnings in the financial statement line item to which the derivative relates.

During the second quarter of 2023, the Company entered into short-term foreign exchange forward call option contracts to offset the foreign exchange risk associated with the cash payment required to be made in euros upon the closing of the Webhelp Combination. These derivatives were not designated as hedging instruments and were adjusted to fair value through earnings and included in other expense (income), net in the consolidated statement of operations. These derivatives were settled subsequent to the Webhelp Combination.

Cross-currency interest rate swaps

In connection with the closing of the Webhelp Combination, the Company entered into cross-currency swap arrangements with certain financial institutions for a total notional amount of $500,000 of the Company’s senior notes. In addition to aligning the currency of a portion of the Company’s interest payments to the Company’s euro-denominated cash flows, the arrangements, together with intercompany loans and additional intercompany cross-currency interest rate swap arrangements described below, effectively converted $250,000 aggregate principal

amount of the Company’s 6.650% Senior Notes due 2026 and $250,000 aggregate principal amount of the Company’s 6.660% Senior Notes due 2028 into synthetic fixed euro-based debt at weighted average interest rates of 5.12% and 5.18%, respectively.

Concurrent with entering into the cross-currency interest rate swaps with certain financial institutions, Marnix SAS, a wholly owned subsidiary of Concentrix, entered into corresponding U.S. dollar denominated intercompany loan agreements with certain other subsidiaries of Concentrix with identical terms and notional amounts as the underlying $500,000 U.S. dollar denominated senior notes, with reciprocal cross currency interest rate swaps.

The cross-currency interest rate swaps are designated as fair value hedges.

Fair Values of Derivative Instruments in the Consolidated Balance Sheets

The fair values of the Company’s derivative instruments are disclosed in Note 8—Fair Value Measurements and summarized in the table below:


	Value as of
Balance Sheet Line Item	November 30, 2023		November 30, 2022
Derivative instruments not designated as hedging instruments:
Foreign exchange forward contracts (notional value)	$	2,173,330	$	1,465,853
Other current assets	16,078		22,839
Other accrued liabilities	20,856		14,934
Derivative instruments designated as fair value hedges:
Cross-currency interest rate swaps (notional value)	$	471,604	$	—
Other long-term liabilities	17,219		—
Derivative instruments designated as cash flow hedges:
Foreign exchange forward contracts (notional value)	$	996,667	$	963,844
Other current assets and other assets	14,330		6,389
Other accrued liabilities and other long-term liabilities	2,724		32,935

Volume of activity

The notional amounts of foreign exchange forward contracts represent the gross amounts of foreign currency, including, principally, the Philippine peso, the Indian rupee, the euro, the British pound, the Canadian dollar, the Japanese yen and the Australian dollar, that will be bought or sold at maturity. The notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the Company’s exposure to credit or market loss. The Company’s exposure to credit loss and market risk will vary over time as currency exchange rates change.

The Effect of Derivative Instruments on AOCI and the Consolidated Statements of Operations

The following table shows the gains and losses, before taxes, of the Company’s derivative instruments designated as cash flow hedges and not designated as hedging instruments in other comprehensive income (“OCI”), and the consolidated statements of operations for the periods presented:


		Fiscal Years Ended November 30,
	Location of gain (loss) in statement of operations	2023		2022		2021
Derivative instruments designated as cash flow and fair value hedges:
(Losses) gains recognized in OCI:
Foreign exchange forward contracts		$	19,199	$	(60,891)	$	(11,105)
Cross-currency interest rate swaps		(3,651)		—		—
		$	15,548	$	(60,891)	$	(11,105)

Gains (losses) reclassified from AOCI into income:
Foreign exchange forward contracts
Gain reclassified from AOCI into income	Revenue for services	$	222	$	—	$	—
(Loss) gain reclassified from AOCI into income	Cost of revenue for services	(13,864)		(28,108)		21,138
(Loss) gain reclassified from AOCI into income	Selling, general and administrative expenses	(4,745)		(8,121)		8,606
Total		$	(18,387)	$	(36,229)	$	29,744

Derivative instruments not designated as hedging instruments:
Loss recognized from foreign exchange forward contracts, net(1)	Other expense (income), net	$	(13,007)	$	(57,983)	$	(2,880)
Loss recognized from foreign exchange call options contracts, net	Other expense (income), net	(14,629)		—		—
Total		$	(27,636)	$	(57,983)	$	(2,880)

(1) The gains and losses largely offset the currency gains and losses that resulted from changes in the assets and liabilities denominated in nonfunctional currencies.

There were no material gain or loss amounts excluded from the assessment of effectiveness. Existing net gains in AOCI that are expected to be reclassified into earnings in the normal course of business within the next twelve months are $9,209.

Offsetting of Derivatives

In the consolidated balance sheets, the Company does not offset derivative assets against liabilities in master netting arrangements.

Credit exposure for derivative financial instruments is limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed the Company’s obligations to the counterparties. The Company manages the potential risk of credit losses through careful evaluation of counterparty credit standing and selection of counterparties from a limited group of financial institutions with high credit standing.

BACKGROUND AND BASIS OF PRESENTATION	12 Months Ended
BACKGROUND AND BASIS OF PRESENTATION	Nov. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	NOTE 1—BACKGROUND AND BASIS OF PRESENTATION: Background Concentrix Corporation (“Concentrix,” the “CX business” or the “Company”) is a leading global provider of Customer Experience (“CX”) solutions and technology that help iconic and disruptive brands drive deep understanding, full lifecycle engagement, and differentiated experiences for their end-customers around the world. The Company provides end-to-end capabilities, including CX process optimization, technology innovation and design engineering, front- and back-office automation, analytics and business transformation services to clients in five primary industry verticals. The Company’s primary verticals are technology and consumer electronics, retail, travel and e-commerce, communications and media, banking, financial services and insurance, and healthcare. On December 1, 2020, Concentrix and the CX business were separated from SYNNEX Corporation, now known as TD SYNNEX Corporation (“TD SYNNEX” or the “former parent”), through a tax-free distribution of all of the issued and outstanding shares of the Company’s common stock to TD SYNNEX stockholders (such separation and distribution, the “spin-off”). As a result of the spin-off, the Company became an independent public company and the Company’s common stock commenced trading on the Nasdaq Stock Market (“Nasdaq”) under the symbol “CNXC” on December 1, 2020. Basis of presentation (including principles of consolidation) The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, its majority-owned subsidiaries and entities over which the Company has control. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain amounts in the consolidated financial statements related to the prior years have been reclassified to conform to the current year’s presentation.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Nov. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: From time to time, the Company receives notices from third parties, including customers and suppliers, seeking indemnification, payment of money or other actions in connection with claims made against them. Also, from time to time, the Company has been involved in various bankruptcy preference actions where the Company was a supplier to the companies now in bankruptcy. In addition, the Company is subject to various other claims, both asserted and unasserted, that arise in the ordinary course of business. The Company evaluates these claims and records the related liabilities. It is possible that the liabilities ultimately incurred by the Company could differ from the amounts recorded. The Company does not believe that the above commitments and contingencies will have a material adverse effect on the Company’s results of operations, financial position or cash flows.

PENSION AND EMPLOYEE BENEFITS PLANS - Weighted-Average Rates (Details) - Pension Plan	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Interest crediting rate for cash balance plan	4.00%	4.00%
Interest crediting rate for cash balance plan	4.00%	4.00%
Minimum
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	3.60%	4.00%
Expected rate of future compensation growth	1.80%	1.80%
Discount rate	4.00%	1.20%
Expected return on plan assets	1.00%	1.00%
Expected rate of future compensation growth	1.80%	1.80%
Maximum
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	7.10%	7.50%
Expected rate of future compensation growth	8.00%	8.80%
Discount rate	7.50%	5.30%
Expected return on plan assets	7.00%	7.00%
Expected rate of future compensation growth	8.80%	10.00%

ACQUISITIONS AND DIVESTITURES (Details) - PK Narrative staff in Thousands	Dec. 27, 2021 staff
PK
Business Acquisition [Line Items]
Number of staff members acquired	5

Compensation Related Costs, Retirement Benefits (Tables)

12 Months Ended

Nov. 30, 2023

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures

Components of pension cost for the Company’s defined benefit plans are as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
Service costs	$	6,937	$	7,031	$	8,148
Interest costs on projected benefit obligation	10,306		6,828		6,284
Expected return on plan assets	(6,208)		(6,562)		(6,032)
Amortization and deferrals, net	98		1,540		4,542
Settlement charges	195		600		485
Total pension costs	$	11,328	$	9,437	$	13,427

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

The status of the Company’s defined benefit plans is summarized below:


	Fiscal Years Ended November 30,
	2023		2022
Change in Benefit Obligation:
Benefit obligation at beginning of year	$	209,166	$	266,620
Service costs	6,937		7,031
Interest costs	10,306		6,828
Actuarial gains (1)	(1,942)		(43,290)
Benefits paid	(13,761)		(16,899)
Acquisitions	12,499		—
Settlements	(14,771)		(4,676)
Foreign currency adjustments	131		(6,448)
Projected obligation at end of year	$	208,565	$	209,166

Change in Plan Assets:
Fair value of plan assets at beginning of year	$	137,351	$	161,931
Actual return on assets	2,358		(20,648)
Settlements	(14,771)		(5,195)
Employer contributions	12,143		12,776
Benefits paid	(10,119)		(10,754)
Foreign currency adjustments	(210)		(759)
Fair value of plan assets at end of year	$	126,752	$	137,351

Funded Status of Plans:
Unfunded status	$	81,813	$	71,815

(1)The actuarial gains in fiscal year 2022 were primarily due to an increase in the discount rate for the Company’s cash balance plan as of the November 30, 2022 measurement date.

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the consolidated balance sheet and recorded within other accrued liabilities and other long-term liabilities as of November 30, 2023 and 2022 consist of the following:


	As of November 30,
	2023		2022
Current liability	$	16,946	$	14,913
Non-current liability	64,867		56,902
Total	$	81,813	$	71,815

Schedule Of Defined Benefit Plan Weighted Average Rates Used In Determining Benefit Obligations And Pension Costs

The following weighted-average rates were used in determining the benefit obligations as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Discount rate	3.6% - 7.1%		4.0% - 7.5%
Interest crediting rate for cash balance plan	4.0	%	4.0	%
Expected rate of future compensation growth	1.8% - 8.0%		1.8% - 8.8%

The following weighted-average rates were used in determining the pension costs for the fiscal years ended November 30, 2023 and 2022:


	Fiscal Years Ended November 30,
	2023		2022
Discount rate	4.0% - 7.5%		1.2% - 5.3%
Interest crediting rate for cash balance plan	4.0	%	4.0	%
Expected return on plan assets	1.0% - 7.0%		1.0% - 7.0%
Expected rate of future compensation growth	1.8% - 8.8%		1.8% - 10.0%

Schedule of Allocation of Plan Assets

The following table sets forth by level within the fair value hierarchy, total plan assets at fair value as of November 30, 2023 and 2022, including the cash balance plan and other funded benefit plans:


Investments	As of November 30, 2023		As of Quoted Prices in Active Markets for Identical Assets (Level 1)		As of Significant Other Observable Inputs (Level 2)		As of Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	3,951	$	3,951	$	—	$	—
Common/collective trusts:
Fixed income	55,550		—		55,550		—
U.S. large cap	24,816		—		24,816		—
U.S. small cap	6,641		—		6,641		—
International equity	25,556		—		25,556		—
Governmental bonds	6,245		—		6,245		—
Corporate bonds	3,955		—		3,955		—
Investment funds	—		—		—		—
Limited partnership	38		—		—		38
Total investments	$	126,752	$	3,951	$	122,763	$	38


Investments	As of November 30, 2022		As of Quoted Prices in Active Markets for Identical Assets (Level 1)		As of Significant Other Observable Inputs (Level 2)		As of Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	4,034	$	4,034	$	—	$	—
Common/collective trusts:
Fixed income	47,439		—		47,439		—
U.S. large cap	31,352		—		31,352		—
U.S. small cap	8,567		—		8,567		—
International equity	36,773		—		36,773		—
Governmental bonds	6,073		—		6,073		—
Corporate bonds	2,998		—		2,998		—
Investment funds	—		—		—		—
Limited partnership	115		—		—		115
Total investments	$	137,351	$	4,034	$	133,202	$	115

Schedule of Expected Benefit Payments

The following table details expected benefit payments for the cash balance plan and other defined benefit plans:


Fiscal Years Ending November 30,
2024	$	31,972
2025	27,109
2026	24,723
2027	23,079
2028	21,847
Thereafter	95,187
Total	$	223,917

SHARE-BASED COMPENSATION - Stock Options Summary (Details) - $ / shares	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance (in shares)	395,000	441,000
Options granted (in shares)	0	0	26,000
Options issued in conversion of certain vested PK stock options (in shares)		119,000
Options exercised (in shares)	(100,000)	(165,000)	(269,000)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 30.70
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period	(1,000)
Ending balance (in shares)	294,000	395,000	441,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance (in dollars per share)	$ 52.60	$ 51.75
Options granted (in dollars per share)	0	0	$ 119.72
Options issued in conversion of certain vested PK stock options (in dollars per share)		45.81
Options exercised (in dollars per share)	45.50	46.38	43.34
Ending balance (in dollars per share)	$ 54.45	$ 52.60	$ 51.75

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Income Statement [Abstract]
Revenue	$ 7,114,706	$ 6,324,473	$ 5,587,015
Cost of revenue	4,536,771	4,067,210	3,617,527
Gross profit	2,577,935	2,257,263	1,969,488
Selling, general and administrative expenses	1,916,608	1,617,071	1,397,091
Operating income	661,327	640,192	572,397
Interest expense and finance charges, net	201,004	70,076	23,046
Other expense (income), net	52,095	(34,887)	(6,345)
Income before income taxes	408,228	605,003	555,696
Provision for income taxes	94,386	169,363	150,119
Net income before non-controlling interest	313,842	435,640	405,577
Less: Net income attributable to non-controlling interest	0	591	0
Net income attributable to Concentrix Corporation	$ 313,842	$ 435,049	$ 405,577
Earnings per common share:
Basic (in dollars per share)	$ 5.72	$ 8.34	$ 7.78
Diluted (in dollars per share)	$ 5.70	$ 8.28	$ 7.70
Weighted-average common shares outstanding:
Basic (in shares)	53,801	51,353	51,355
Diluted (in shares)	54,010	51,740	51,914

INCOME TAXES - Income Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
United States	$ (51,820)	$ 7,883	$ 66,274
Foreign	460,048	597,120	489,422
Total	$ 408,228	$ 605,003	$ 555,696

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

STOCKHOLDERS’ EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands										1 Months Ended	12 Months Ended
	Jan. 19, 2024	Sep. 27, 2023	Jun. 28, 2023	Mar. 29, 2023	Jan. 19, 2023	Sep. 28, 2022	Jun. 27, 2022	Mar. 29, 2022	Jan. 18, 2022	Dec. 31, 2023	Nov. 30, 2023	Nov. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Authorized repurchase amount													$ 500,000
Shares repurchased											709,000	842,000
Aggregate purchase price											$ 63,958	$ 120,819
Stock Repurchase Program, Remaining Authorized Repurchase Amount											$ 290,127
Common Stock, Dividends, Per Share, Cash Paid		$ 0.3025	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.25	$ 0.25	$ 0.25
Subsequent Event [Line Items]
Shares repurchased											709,000	842,000
Aggregate purchase price											$ 63,958	$ 120,819
Subsequent Event
Equity [Abstract]
Shares repurchased										66,000
Aggregate purchase price										$ 6,347
Subsequent Event [Line Items]
Declared quarterly dividend (in dollars per share)	$ 0.3025
Shares repurchased										66,000
Aggregate purchase price										$ 6,347

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Nov. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

The Company recorded share-based compensation expense in the consolidated statements of operations for fiscal years 2023, 2022 and 2021 as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
Total share-based compensation	$	62,493	$	47,516	$	36,762
Tax benefit recorded in the provision for income taxes	(15,623)		(12,069)		(9,234)
Effect on net income	$	46,870	$	35,447	$	27,528

Share-based Payment Arrangement, Option, Activity

A summary of the changes in the employee stock options during fiscal years 2021, 2022, and 2023 is presented below:


	Options Outstanding
	Number of shares (in thousands)	Weighted- average exercise price per share
Balance as of December 1, 2020 (converted from former parent stock options in connection with the spin-off) (1)	684	$	45.84
Options granted	26	119.72
Options exercised	(269)	43.34
Balance as of November 30, 2021	441	51.75
Options granted	—	—
Options issued in conversion of certain vested PK stock options (2)	119	45.81
Options exercised	(165)	46.38
Balance as of November 30, 2022	395	52.60
Options granted	—	—
Options exercised	(100)	45.50
Options cancelled	(1)	30.70
Balance as of November 30, 2023	294	$	54.45

(1)Amounts represent Concentrix awards, including those held by TD SYNNEX employees.

Schedule of Nonvested Restricted Stock Units Activity


	Number of shares (in thousands)	Weighted-average, grant-date fair value per share
Balance as of December 1, 2020 (converted from former parent awards and units in connection with the spin-off) (1)	827	$	51.53
Awards granted	495	134.65
Units granted (2)	226	154.53
Awards and units vested	(504)	61.95
Awards and units cancelled/forfeited	(64)	84.20
Non-vested as of November 30, 2021	980	109.92
Awards granted	510	139.31
Units granted (2)	294	130.98
Awards and units vested	(283)	91.62
Awards and units cancelled/forfeited	(106)	118.79
Non-vested as of November 30, 2022	1,395	124.69
Awards granted	60	135.01
Units granted (2)	1,828	74.64
Performance-based units vested in excess of target (3)	17	159.97
Awards and units vested	(513)	122.76
Awards and units cancelled/forfeited	(114)	138.88
Non-vested as of November 30, 2023	2,673	$	92.80

(1)Amounts represent Concentrix awards, including those held by TD SYNNEX employees.

(2)For performance-based restricted stock units, the target number of shares that can be awarded upon full vesting of the grants is included.

(3)Amounts represent performance-based awards that vested in excess of the target number of shares for the fiscal year 2021 performance-based grants.

INCOME TAXES - Deferred Tax Assets, Net (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022
Assets:
Net operating losses	$ 138,930	$ 143,593
Accruals and other reserves	55,528	41,119
Depreciation and amortization	73,234	13,319
U.S. interest limitation carry forward	33,318	4,026
Share-based compensation expense	7,867	7,505
Deferred revenue	5,429	4,335
Tax credits	5,082	8,415
Foreign tax credit	915	1,373
Operating lease liabilities	190,348	95,935
Intercompany loans payable	81,654	62,544
Other	37,713	17,616
Gross deferred tax assets	630,018	399,780
Valuation allowance	(117,679)	(103,169)
Total deferred tax assets	512,339	296,611
Liabilities:
Intangible assets	636,194	232,930
Unremitted non-US earnings	45,250	31,223
Operating lease right-of-use assets	172,808	89,375
Total deferred tax liabilities	854,252	353,528
Total net deferred tax liabilities	$ 341,913	$ 56,917

LEASES (Tables)

12 Months Ended

Nov. 30, 2023

Leases [Abstract]

Schedule of Lease Cost

The following table presents the various components of operating lease costs:


	Fiscal Years Ended November 30,
	2023		2022		2021
Operating lease cost	$	216,774	$	199,609	$	203,508
Short-term lease cost	21,802		20,451		15,767
Variable lease cost	58,283		45,997		40,215
Sublease income	(5,394)		(3,226)		(1,738)
Total operating lease cost	$	291,465	$	262,831	$	257,752

The weighted-average remaining lease term and discount rate as of November 30, 2023 and 2022, respectively, were as follows:


	As of November 30,
Operating lease term and discount rate	2023		2022
Weighted-average remaining lease term (years)	4.88		3.72
Weighted-average discount rate	6.41	%	5.24	%

Operating Lease Liability Maturity Schedule

The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of November 30, 2023:


Fiscal Years Ending November 30,
2024	$	277,969
2025	227,589
2026	161,175
2027	108,655
2028	74,024
Thereafter	151,430
Total payments	1,000,842
Less: imputed interest*	148,542
Total present value of lease payments	$	852,300

*Imputed interest represents the difference between undiscounted cash flows and discounted cash flows.

Schedule of Amounts Recorded In Consolidated Balance Sheet Related to Operating Leases

The following amounts were recorded in the consolidated balance sheet as of November 30, 2023 and 2022 related to the Company’s operating leases:


		As of November 30,
Operating leases	Balance sheet location	2023		2022
Operating lease ROU assets	Other assets, net	$	813,590	$	473,039
Current operating lease liabilities	Other accrued liabilities	229,010		158,801
Non-current operating lease liabilities	Other long-term liabilities	623,290		340,673

Schedule of Supplemental Cash Flow Information Related to Operating Leases

The following table presents supplemental cash flow information related to the Company’s operating leases. Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below:


	Fiscal Years Ended November 30,
Cash flow information	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	225,142	$	196,168	$	200,096
Non-cash ROU assets obtained in exchange for lease liabilities	152,071		191,055		156,406

LEASES - Operating Lease ROU Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Dec. 01, 2019
Leases [Abstract]
Operating lease ROU assets	$ 813,590	$ 473,039
Current operating lease liabilities	229,010	158,801
Non-current operating lease liabilities	$ 623,290	$ 340,673
Operating lease, right-of-use asset, statement of financial position	Other assets	Other assets	Other assets
Operating lease, liability, current, statement of financial position	Other accrued liabilities	Other accrued liabilities	Other accrued liabilities
Operating Lease, liability, noncurrent, statement of financial position	Other long-term liabilities	Other long-term liabilities	Other long-term liabilities

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022
Liabilities measured at fair value:
Long-Term Debt	$ 4,939,712	$ 2,224,288
Fair Value, Recurring
Assets measured at fair value:
Cash equivalents	52,847	89,932
Foreign government bond	1,853	1,529
Liabilities measured at fair value:
Long-Term Debt, Fair Value	2,146,554	0
Long-Term Debt	2,131,870	0
Fair Value, Recurring \| Foreign Exchange Forward
Assets measured at fair value:
Forward foreign currency exchange contracts	30,408	29,228
Liabilities measured at fair value:
Forward foreign currency exchange contracts	23,580	47,869
Fair Value, Recurring \| Cross Currency Interest Rate Contract
Liabilities measured at fair value:
Forward foreign currency exchange contracts	17,219	0
Fair Value, Recurring \| Contingent Consideration
Liabilities measured at fair value:
Forward foreign currency exchange contracts	48,600	0
Fair Value, Recurring \| Level 1
Assets measured at fair value:
Cash equivalents	52,847	89,932
Foreign government bond	1,853	1,529
Liabilities measured at fair value:
Long-Term Debt, Fair Value	0	0
Long-Term Debt	0	0
Fair Value, Recurring \| Level 1 \| Foreign Exchange Forward
Assets measured at fair value:
Forward foreign currency exchange contracts	0	0
Liabilities measured at fair value:
Forward foreign currency exchange contracts	0	0
Fair Value, Recurring \| Level 1 \| Cross Currency Interest Rate Contract
Liabilities measured at fair value:
Forward foreign currency exchange contracts	0	0
Fair Value, Recurring \| Level 1 \| Contingent Consideration
Liabilities measured at fair value:
Forward foreign currency exchange contracts	0	0
Fair Value, Recurring \| Level 2
Assets measured at fair value:
Cash equivalents	0	0
Foreign government bond	0	0
Liabilities measured at fair value:
Long-Term Debt, Fair Value	2,146,554	0
Long-Term Debt	0	0
Fair Value, Recurring \| Level 2 \| Foreign Exchange Forward
Assets measured at fair value:
Forward foreign currency exchange contracts	30,408	29,228
Liabilities measured at fair value:
Forward foreign currency exchange contracts	23,580	47,869
Fair Value, Recurring \| Level 2 \| Cross Currency Interest Rate Contract
Liabilities measured at fair value:
Forward foreign currency exchange contracts	17,219	0
Fair Value, Recurring \| Level 2 \| Contingent Consideration
Liabilities measured at fair value:
Forward foreign currency exchange contracts	48,600	0
Fair Value, Recurring \| Level 3
Assets measured at fair value:
Cash equivalents	0	0
Foreign government bond	0	0
Liabilities measured at fair value:
Long-Term Debt, Fair Value	0	0
Long-Term Debt	0	0
Fair Value, Recurring \| Level 3 \| Foreign Exchange Forward
Assets measured at fair value:
Forward foreign currency exchange contracts	0	0
Liabilities measured at fair value:
Forward foreign currency exchange contracts	0	0
Fair Value, Recurring \| Level 3 \| Cross Currency Interest Rate Contract
Liabilities measured at fair value:
Forward foreign currency exchange contracts	0	0
Fair Value, Recurring \| Level 3 \| Contingent Consideration
Liabilities measured at fair value:
Forward foreign currency exchange contracts	$ 0	$ 0

ACQUISITIONS AND DIVESTITURES - Webhelp Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 25, 2023	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 1,914,079	$ 1,698,261	$ 3,279
Webhelp
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 1,984,000
Payments to Acquire Businesses, Net of Cash Acquired	$ 3,752,398
Business Acquisition, Right to Receive Equity Interest Issued or Issuable, Number of Shares	750,000
Business Acquisition, Right to Receive Equity Interest Issued or Issuable, Minimum Share Price	$ 170.00
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures	80,000

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 214,832	$ 162,673	$ 136,939
Remaining amortization period	14 years

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Former parent company investment	Accumulated other comprehensive income (loss)	Noncontrolling Interest	Treasury Stock, Common
Beginning Balance at Nov. 30, 2020	$ 0
Beginning balance (in shares) at Nov. 30, 2020		0						0
Beginning Balance at Nov. 30, 2020	2,302,085	$ 0	$ 0	$ 0	$ 2,305,899	$ (3,814)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		459,000
Share-based compensation activity	49,873		49,873
Repurchase of common stock for tax withholdings on equity awards (in shares)								195,000
Less: Net income attributable to non-controlling interest	0
Other comprehensive income (loss)	(66,712)					(66,712)
Reclassification of net former parent investment in Concentrix	0		2,305,899		(2,305,899)
Issuance of common stock at separation and spin-off (in shares)		51,135,000
Issuance of common stock at separation and spin-off	0	$ 5	(5)
Repurchase of common stock for tax withholdings on equity awards	(32,390)							$ (32,390)
Repurchase of common stock (in shares)								138,000
Repurchase of common stock	(25,096)							$ (25,096)
Dividends	(13,082)			(13,082)
Net income before non-controlling interest	405,577			405,577
Ending Balance at Nov. 30, 2021	0
Ending balance (in shares) at Nov. 30, 2021		51,594,000						333,000
Ending Balance at Nov. 30, 2021	2,620,255	$ 5	2,355,767	392,495	0	(70,526)		$ (57,486)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		773,000
Share-based compensation activity	56,730		56,730
Equity awards issued as acquisition purchase consideration	15,725		15,725
Repurchase of common stock for tax withholdings on equity awards (in shares)								96,000
Acquisition of non-controlling interest in subsidiary	2,000
Less: Net income attributable to non-controlling interest	591
Purchase of non-controlling interest in subsidiary	91		91				$ (2,591)
Other comprehensive income (loss)	(245,223)					(245,223)
Repurchase of common stock for tax withholdings on equity awards	(12,474)							$ (12,474)
Repurchase of common stock (in shares)								842,000
Repurchase of common stock	(120,819)							$ (120,819)
Dividends	(53,430)			(53,430)
Net income before non-controlling interest	435,049			435,049
Ending Balance at Nov. 30, 2022	$ 0
Ending balance (in shares) at Nov. 30, 2022	51,096,000	52,367,000						1,271,000
Ending Balance at Nov. 30, 2022	$ 2,695,904	$ 5	2,428,313	774,114	0	(315,749)		$ (190,779)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		654,000
Share-based compensation activity	69,314		69,314
Equity awards issued as acquisition purchase consideration	1,084,896	$ 2	1,084,894
Repurchase of common stock for tax withholdings on equity awards (in shares)								169,000
Less: Net income attributable to non-controlling interest	0
Other comprehensive income (loss)	124,022					124,022
Stock Issued During Period, Shares, Acquisitions		14,862,000
Repurchase of common stock for tax withholdings on equity awards	(17,231)							$ (17,231)
Repurchase of common stock (in shares)								709,000
Repurchase of common stock	(63,958)							$ (63,958)
Dividends	(63,495)			(63,495)
Net income before non-controlling interest	313,842			313,842
Ending Balance at Nov. 30, 2023	$ 0
Ending balance (in shares) at Nov. 30, 2023	65,734,000	67,883,000						2,149,000
Ending Balance at Nov. 30, 2023	$ 4,143,294	$ 7	$ 3,582,521	$ 1,024,461	$ 0	$ (191,727)		$ (271,968)

ACQUISITIONS AND DIVESTITURES - PK Consideration (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 27, 2021	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Acquisitions		$ 71,336	$ 33,763	$ 825
Payments to Acquire Businesses, Net of Cash Acquired		$ 1,914,079	$ 1,698,261	$ 3,279
PK
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross, Cash Consideration for Stock	$ 1,177,342
Payments to Acquire Businesses, Gross, Cash Consideration for Vested Equity Awards	246,229
Payments to Acquire Businesses, Gross, Cash Consideration for Repayment of Debt, Including Accrued Interest	148,492
Acquisitions	22,842
Cash paid for acquisition	1,594,905
Business Combination, Consideration Transferred, Other	15,725
Business Combination, Consideration Transferred	1,610,630
Cash Acquired from Acquisition	37,310
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,573,320

BORROWINGS

12 Months Ended

Nov. 30, 2023

Debt Disclosure [Abstract]

BORROWINGS

BORROWINGS:

Borrowings consist of the following:


	As of November 30,
	2023		2022
Other loans	$	2,313	$	—
Current portion of long-term debt	$	2,313	$	—

6.650% Senior Notes due 2026	$	800,000	$	—
6.600% Senior Notes due 2028	800,000		—
6.850% Senior Notes due 2033	550,000		—
Credit Facility - Term Loan component	1,950,000		1,875,000
Securitization Facility	128,500		356,500
Sellers' Note	762,286		—
Other loans	5,301		—
Long-term debt, before unamortized debt discount and issuance costs	4,996,087		2,231,500
Less: unamortized debt discount and issuance costs	(56,375)		(7,212)
Long-term debt, net	$	4,939,712	$	2,224,288

Senior Notes

On August 2, 2023, the Company issued and sold (i) $800,000 aggregate principal amount of 6.650% Senior Notes due 2026 (the “2026 Notes”), (ii) $800,000 aggregate principal amount of 6.600% Senior Notes due 2028 (the “2028 Notes”) and (iii) $550,000 aggregate principal amount of 6.850% Senior Notes due 2033 (the “2033 Notes” and, together with the 2026 Notes and 2028 Notes, the “Senior Notes”). The Senior Notes were sold in a registered public offering pursuant to the Company’s Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated July 19, 2023, to a Prospectus dated July 17, 2023.

The Senior Notes were issued pursuant to, and are governed by, an indenture, dated as of August 2, 2023 (the “Base Indenture”), between Concentrix and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by a first supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2026 Notes, a second supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2028 Notes, and a third supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2033 Notes (such supplemental indentures, together with the Base Indenture, the “Indenture”). The Indenture contains customary covenants and restrictions, including covenants that limit Concentrix Corporation’s and certain of its subsidiaries’ ability to create or incur liens on shares

of stock of certain subsidiaries or on principal properties, engage in sale/leaseback transactions or, with respect to Concentrix Corporation, consolidate or merge with, or sell or lease substantially all its assets to, another person. The Indenture also provides for customary events of default.

The Company used the net proceeds of the offering and sale of the Senior Notes, together with approximately $294,702 of delayed draw borrowings under its $2,144,700 senior unsecured term loan facility and cash on hand, to pay the cash portion of the Webhelp Combination consideration, repay approximately $1,915,197 of existing indebtedness of Webhelp Parent and its subsidiaries, and pay related fees and expenses in connection with the Webhelp Combination. The remaining proceeds were used for general corporate purposes of the Company.

The Company incurred debt discount and issuance costs of approximately $19,300 associated with the Senior Notes during the fiscal year ended November 30, 2023, which are being amortized over the applicable maturity dates.

Bridge Facility and Restated Credit Facility

To provide the debt financing required by the Company to consummate the Webhelp Combination, the Company entered into a commitment letter dated March 29, 2023 (the “Bridge Commitment Letter,” and the commitments pursuant to the Bridge Commitment Letter, the “Bridge Facility”), under which certain financing institutions committed to provide a 364-day bridge loan facility in an aggregate principal amount of $5,290,000 consisting of (i) a $1,850,000 tranche of term bridge loans (the “Term Loan Amendment Tranche”), (ii) a $1,000,000 tranche of revolving commitments (the “Revolver Amendment Tranche”) and (iii) a $2,440,000 tranche of term bridge loans (the “Acquisition Tranche”), each subject to the satisfaction of certain customary closing conditions, including the consummation of the Webhelp Combination.

The incurrence of the acquisition-related indebtedness that would be funded by the Acquisition Tranche of the Bridge Facility (or permanent financing in lieu thereof) and by the Sellers’ Note was not permitted under the Prior Credit Facility. Therefore, on April 21, 2023, the Company entered into an Amendment and Restatement Agreement (the “Amendment Agreement”) with the lenders party thereto, JPMorgan Chase Bank, N.A. and Bank of America, N.A. to amend and restate the Prior Credit Facility (as amended and restated, the “Restated Credit Facility”). As a result of having entered into the Amendment Agreement, among other things, the Company obtained requisite lender consent to incur acquisition-related indebtedness, and pursuant to the terms of the Bridge Commitment Letter, the commitments with respect to the Term Loan Amendment Tranche and the Revolver Amendment Tranche of the Bridge Facility were each reduced to zero, and the Acquisition Tranche was reduced by approximately $294,702. On August 2, 2023, the remaining outstanding commitment of approximately $2,145,298 under the Bridge Commitment Letter was reduced to zero in connection with the issuance of the Senior Notes.

The Restated Credit Facility provides for the extension of a senior unsecured revolving credit facility not to exceed an aggregate principal amount of $1,042,500. The Restated Credit Facility also provides for a senior unsecured term loan facility in an aggregate principal amount not to exceed approximately $2,144,700 (the “Term Loan”), of which $1,850,000 was incurred upon the amendment and approximately $294,702 was drawn on a delayed draw basis on the Closing Date (the “Delayed Draw Term Loans”). Aggregate borrowing capacity under the Restated Credit Facility may be increased by up to an additional $500,000 by increasing the amount of the revolving credit facility or by incurring additional term loans, in each case subject to the satisfaction of certain conditions set forth in the Restated Credit Facility, including the receipt of additional commitments for such increase. During the fiscal year ended November 30, 2023, the Company voluntarily prepaid $194,702 of the principal balance on the Term Loan, without penalty, resulting in an outstanding balance at November 30, 2023 of approximately $1,950,000.

The maturity date of the Restated Credit Facility remains December 27, 2026, subject, in the case of the revolving credit facility, to two one-year extensions upon the Company’s prior notice to the lenders and the agreement of the lenders to extend such maturity date. Due to the voluntary prepayments previously described, no principal payment on the term loans is due until fiscal year 2026 with the remaining outstanding principal amount due in full on the maturity date.

Borrowings under the Restated Credit Facility bear interest, in the case of SOFR rate loans, at a per annum rate equal to the applicable SOFR rate (but not less than 0.0%), plus an applicable margin, which ranges from 1.125% to 2.000%, based on the credit ratings of the Company’s senior unsecured non-credit enhanced long-term indebtedness for borrowed money plus a credit spread adjustment to the SOFR rate of 0.10%. Borrowings under the Restated Credit Facility that are base rate loans bear interest at a per annum rate (but not less than 1.0%) equal to (i) the greatest of (A) the Prime Rate (as defined in the Restated Credit Facility) in effect on such day, (B) the NYFRB Rate (as defined in the Restated Credit Facility) in effect on such day plus ½ of 1.0%, and (C) the adjusted one-month term SOFR rate plus 1.0% per annum, plus (ii) an applicable margin, which ranges from 0.125% to 1.000%, based on the credit ratings of the Company’s senior unsecured non-credit enhanced long-term indebtedness for borrowed money.

The Restated Credit Facility contains certain loan covenants that are customary for credit facilities of this type and that restrict the ability of Concentrix Corporation and its subsidiaries to take certain actions, including the creation of liens, mergers or consolidations, changes to the nature of their business, and, solely with respect to subsidiaries of Concentrix Corporation, incurrence of indebtedness. In addition, the Restated Credit Facility contains financial covenants that require the Company to maintain at the end of each fiscal quarter, (i) a consolidated leverage ratio (as defined in the Restated Credit Facility) not to exceed 3.75 to 1.0 (or for certain periods following certain qualified acquisitions, including the Webhelp Combination, 4.25 to 1.0) and (ii) a consolidated interest coverage ratio (as defined in the Restated Credit Facility) equal to or greater than 3.00 to 1.0. The Restated Credit Facility also contains various customary events of default, including payment defaults, defaults under certain other indebtedness, and a change of control of Concentrix Corporation.

None of Concentrix’ subsidiaries guarantees the obligations under the Restated Credit Facility.

Prior to entering into the Amendment Agreement, obligations under the Company’s Prior Credit Facility were secured by substantially all of the assets of Concentrix Corporation and certain of its U.S. subsidiaries and were guaranteed by certain of its U.S. subsidiaries. Borrowings under the Prior Credit Facility bore interest, in the case of term or daily SOFR loans, at a per annum rate equal to the applicable SOFR rate (but not less than 0.0%), plus an adjustment of between 0.10% and 0.25% depending on the interest period of each SOFR loan, plus an applicable margin, which ranged from 1.25% to 2.00%, based on the Company’s consolidated leverage ratio. Borrowings under the Prior Credit Facility that were base rate loans bore interest at a per annum rate equal to (i) the greatest of (a) the Federal Funds Rate in effect on such day plus ½ of 1.00%, (b) the rate of interest last publicly announced by Bank of America as its “prime rate” and (c) the term SOFR rate plus 1.00%, plus (ii) an applicable margin, which ranged from 0.25% to 1.00%, based on the Company’s consolidated leverage ratio. From August 31, 2022 through the date of the Amendment Agreement, the outstanding principal of the term loans under the Prior Credit Facility was payable in quarterly installments of $26,250.

At November 30, 2023 and 2022, no amounts were outstanding under the Company’s revolving credit facility.

During the fiscal year ended November 30, 2023, the Company voluntarily prepaid $25,000 of the principal balance on the term loans under the Prior Credit Facility, without penalty.

The Company paid and expensed a total of $21,617 in Bridge Facility financing fees during the fiscal year ended November 30, 2023. During the fiscal year ended November 30, 2023, the Company paid $3,369 in debt amendment fees related to the Restated Credit Facility. The debt amendment fees that were capitalized are being amortized over the remaining life of the Restated Credit Facility.

Securitization Facility

On July 6, 2022, the Company entered into an amendment to the Securitization Facility, which was initially entered into on October 30, 2020, to (i) increase the commitment of the lenders to provide available borrowings from up to $350,000 to up to $500,000, (ii) extend the termination date of the Securitization Facility from October 28, 2022 to July 5, 2024, and (iii) replace LIBOR with SOFR as one of the reference rates used to calculate interest

on borrowings under the Securitization Facility. In addition, the interest rate margins were amended, such that borrowings under the Securitization Facility that are funded through the issuance of commercial paper bear interest at the applicable commercial paper rate plus a spread of 0.70% and, otherwise, at a per annum rate equal to the applicable SOFR rate (which includes a credit spread adjustment to the SOFR rate of 0.10%), plus a spread of 0.80%. Amounts drawn under this Securitization Facility have been classified as long-term debt within the consolidated balance sheet based on the Company’s ability and intent to refinance on a long-term basis as of November 30, 2023.

Under the Securitization Facility, Concentrix Corporation and certain of its subsidiaries (the “Originators”) sell or otherwise transfer all of their accounts receivable to a special purpose bankruptcy-remote subsidiary of the Company (the “Borrower”) that grants a security interest in the receivables to the lenders in exchange for available borrowings of up to $500,000. The amount received under the Securitization Facility is recorded as debt on the Company’s consolidated balance sheets. Borrowing availability under the Securitization Facility may be limited by the Company’s accounts receivable balances, changes in the credit ratings of the clients comprising the receivables, client concentration levels in the receivables, and certain characteristics of the accounts receivable being transferred (including factors tracking performance of the accounts receivable over time).

The Securitization Facility contains various affirmative and negative covenants, including a consolidated leverage ratio covenant that is consistent with the Restated Credit Facility and customary events of default, including payment defaults, defaults under certain other indebtedness, a change in control of Concentrix Corporation, and certain events negatively affecting the overall credit quality of the transferred accounts receivable.

The Borrower’s sole business consists of the purchase or acceptance through capital contributions of the receivables and related security from the Originators and the subsequent retransfer of or granting of a security interest in such receivables and related security to the administrative agent under the Securitization Facility for the benefit of the lenders. The Borrower is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of the Borrower’s assets prior to any assets or value in the Borrower becoming available to the Borrower’s equity holders, and the assets of the Borrower are not available to pay creditors of the Company and its subsidiaries.

Sellers’ Note

On September 25, 2023, as part of the consideration for the Webhelp Combination, Concentrix Corporation issued the Sellers’ Note in the aggregate principal amount of €700,000 to certain Sellers (the “Noteholders”). The stated rate of interest associated with the Sellers’ Note is two percent (2%) per annum, which is below the Company’s expected borrowing rate. As a result, the Company discounted the Sellers’ Note by €31,500 using an approximate 4.36% imputed annual interest rate. This discounting resulted in an initial value of €668,500 or $711,830. The discount value is being amortized into interest expense over the two-year term. All stated principal and accrued interest will be due and payable on September 25, 2025.

Covenant compliance

As of November 30, 2023, Concentrix was in compliance with all covenants for the above arrangements.

Future principal payments

As of November 30, 2023, future principal payments under the above loans for the subsequent fiscal years are as follows:


	Amount
Fiscal Years Ending November 30,
2024	$	130,813
2025	767,587
2026	819,768
2027	1,930,232
2028	800,000
Thereafter	550,000
Total	$	4,998,400

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Nov. 30, 2023	Nov. 30, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	67,883,000	52,367,000
Common stock, shares outstanding (in shares)	65,734,000	51,096,000
Treasury stock (in shares)	2,149,000	1,271,000
Cash and cash equivalents	$ 295,336,000	$ 145,382,000
Accounts receivable, net	1,888,890,000	1,390,474,000
Other current assets	674,423,000	218,476,000
Total current assets	2,858,649,000	1,754,332,000
Property and equipment, net	748,691,000	403,829,000
Goodwill	5,078,668,000	2,904,402,000
Net amounts	2,804,965,000	985,572,000
Deferred tax assets	72,333,000	48,541,000
Other assets	928,521,000	573,092,000
Assets	12,491,827,000	6,669,768,000
Accounts payable	243,565,000	161,190,000
Current portion of long-term debt	2,313,000	0
Accrued compensation and benefits	731,172,000	506,966,000
Other accrued liabilities	1,016,406,000	395,304,000
Income taxes payable	80,583,000	68,663,000
Liabilities, Current	2,074,039,000	1,132,123,000
Long-term debt, net	4,939,712,000	2,224,288,000
Other long-term liabilities	920,536,000	511,995,000
Deferred tax liabilities	414,246,000	105,458,000
Liabilities	8,348,533,000	3,973,864,000
Preferred stock, $0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of November 30, 2023 and 2022, respectively	0	0
Common stock, $0.0001 par value, 250,000 shares authorized; 67,883 and 52,367 shares issued as of November 30, 2023 and 2022, respectively, and 65,734 and 51,096 shares outstanding as of November 30, 2023 and 2022, respectively	7,000	5,000
Additional paid-in capital	3,582,521,000	2,428,313,000
Treasury stock, 2,149 and 1,271 shares as of November 30, 2023 and 2022, respectively	(271,968,000)	(190,779,000)
Retained earnings	1,024,461,000	774,114,000
Accumulated other comprehensive loss	(191,727,000)	(315,749,000)
Stockholders' Equity Attributable to Parent	4,143,294,000	2,695,904,000
Liabilities and Equity	$ 12,491,827,000	$ 6,669,768,000

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Nov. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair values of the Company’s derivative instruments are disclosed in Note 8—Fair Value Measurements and summarized in the table below:


	Value as of
Balance Sheet Line Item	November 30, 2023		November 30, 2022
Derivative instruments not designated as hedging instruments:
Foreign exchange forward contracts (notional value)	$	2,173,330	$	1,465,853
Other current assets	16,078		22,839
Other accrued liabilities	20,856		14,934
Derivative instruments designated as fair value hedges:
Cross-currency interest rate swaps (notional value)	$	471,604	$	—
Other long-term liabilities	17,219		—
Derivative instruments designated as cash flow hedges:
Foreign exchange forward contracts (notional value)	$	996,667	$	963,844
Other current assets and other assets	14,330		6,389
Other accrued liabilities and other long-term liabilities	2,724		32,935

Derivative Instruments, Gain (Loss)


		Fiscal Years Ended November 30,
	Location of gain (loss) in statement of operations	2023		2022		2021
Derivative instruments designated as cash flow and fair value hedges:
(Losses) gains recognized in OCI:
Foreign exchange forward contracts		$	19,199	$	(60,891)	$	(11,105)
Cross-currency interest rate swaps		(3,651)		—		—
		$	15,548	$	(60,891)	$	(11,105)

Gains (losses) reclassified from AOCI into income:
Foreign exchange forward contracts
Gain reclassified from AOCI into income	Revenue for services	$	222	$	—	$	—
(Loss) gain reclassified from AOCI into income	Cost of revenue for services	(13,864)		(28,108)		21,138
(Loss) gain reclassified from AOCI into income	Selling, general and administrative expenses	(4,745)		(8,121)		8,606
Total		$	(18,387)	$	(36,229)	$	29,744

Derivative instruments not designated as hedging instruments:
Loss recognized from foreign exchange forward contracts, net(1)	Other expense (income), net	$	(13,007)	$	(57,983)	$	(2,880)
Loss recognized from foreign exchange call options contracts, net	Other expense (income), net	(14,629)		—		—
Total		$	(27,636)	$	(57,983)	$	(2,880)

(1) The gains and losses largely offset the currency gains and losses that resulted from changes in the assets and liabilities denominated in nonfunctional currencies.

BALANCE SHEET COMPONENTS

12 Months Ended

Nov. 30, 2023

Balance Sheet Related Disclosures [Abstract]

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS:

Cash, cash equivalents and restricted cash:

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows:


	As of November 30,
	2023		2022
Cash and cash equivalents	$	295,336	$	145,382
Restricted cash included in other current assets	221,151		12,081
Cash, cash equivalents and restricted cash	$	516,487	$	157,463

Restricted cash balances relate primarily to funds held for clients, restrictions placed on cash deposits by banks as collateral for the issuance of bank guarantees and the terms of a government grant, and letters of credit for leases. The Company had a corresponding current liability recorded in other accrued liabilities on the consolidated balance sheet related to funds held for clients of approximately $218,228 and $9,679 as of November 30, 2023 and 2022, respectively.

Accounts receivable, net:

Accounts receivable, net is comprised of the following as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Billed accounts receivable	$	1,082,469	$	782,049
Unbilled accounts receivable	818,954		613,222
Less: Allowance for doubtful accounts	(12,533)		(4,797)
Accounts receivable, net	$	1,888,890	$	1,390,474

Allowance for doubtful trade receivables:

Presented below is a progression of the allowance for doubtful trade receivables:


	Fiscal Years Ended November 30,
	2023		2022		2021
Balance at beginning of period	$	4,797	$	5,421	$	8,963
Net additions (reductions)	10,236		3,329		(202)
Write-offs and reclassifications	(2,500)		(3,953)		(3,340)
Balance at end of period	$	12,533	$	4,797	$	5,421

Property and equipment, net:

The following table summarizes the carrying amounts and related accumulated depreciation for property and equipment as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Land	$	28,039	$	27,336
Equipment, computers and software	762,961		542,209
Furniture and fixtures	157,425		89,167
Buildings, building improvements and leasehold improvements	566,384		362,218
Construction-in-progress	35,175		14,975
Total property and equipment, gross	$	1,549,984	$	1,035,905
Less: Accumulated depreciation	(801,293)		(632,076)
Property and equipment, net	$	748,691	$	403,829

Shown below are the countries where 10% or more and other significant concentrations of the Company’s property and equipment, net are located as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Property and equipment, net:
United States	$	123,335	$	123,184
Philippines	75,943		76,361
France	65,599		284
India	51,248		42,698
Others	432,566		161,302
Total	$	748,691	$	403,829

Accumulated other comprehensive income (loss):

The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows:


	Unrecognized gains (losses) on defined benefit plan, net of taxes		Unrealized gains (losses) on hedges, net of taxes		Foreign currency translation adjustment and other, net of taxes		Total
Balance, November 30, 2021	$	(22,745)	$	(1,403)	$	(46,378)	$	(70,526)
Other comprehensive income (loss) before reclassification	14,274		(45,464)		(240,986)		(272,176)
Reclassification of (gains) losses from other comprehensive income (loss)	—		26,953		—		26,953
Balance, November 30, 2022	$	(8,471)	$	(19,914)	$	(287,364)	$	(315,749)
Other comprehensive income (loss) before reclassification	(2,800)		10,610		102,419		110,229
Reclassification of gains from other comprehensive income (loss)	—		13,793		—		13,793
Balance, November 30, 2023	$	(11,271)	$	4,489	$	(184,945)	$	(191,727)

Refer to Note 7—Derivative Instruments for the location of gains and losses on cash flow hedges reclassified from other comprehensive income (loss) to the consolidated statements of operations. Reclassifications of amortization of actuarial (gains) losses of defined benefit plans is recorded in “Other expense (income), net” in the consolidated statement of operations.

FAIR VALUE MEASUREMENTS

12 Months Ended

Nov. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS:

The Company’s fair value measurements are classified and disclosed in one of the following three categories:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

The following table summarizes the valuation of the Company’s investments and financial instruments that are measured at fair value on a recurring basis:


	As of November 30, 2023									As of November 30, 2022
			Fair value measurement category									Fair value measurement category
	Total			Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3
Assets measured at fair value:
Cash equivalents	$	52,847		$	52,847	$	—	$	—	$	89,932		$	89,932	$	—	$	—
Foreign government bond	1,853			1,853		—		—		1,529			1,529		—		—
Forward foreign currency exchange contracts	30,408			—		30,408		—		29,228			—		29,228		—
Liabilities measured at fair value:
Forward foreign currency exchange contracts	23,580			—		23,580		—		47,869			—		47,869		—
Cross-currency interest rate swaps	17,219			—		17,219		—		—			—		—		—
Acquisition contingent consideration	48,600			—		48,600		—		—			—		—		—
Liabilities measured at other than fair value:
Long term debt (senior notes)
Fair value	2,146,554			—		2,146,554		—		—			—		—		—
Carrying amount	2,131,870			—		—		—		—			—		—		—

The Company’s cash equivalents consist primarily of highly liquid investments in money market funds and term deposits with maturity periods of three months or less. The carrying values of cash equivalents approximate fair value since they are near their maturity. Investment in foreign government bond classified as an available-for-sale debt security is recorded at fair value based on quoted market prices. The fair values of forward exchange contracts are measured based on the foreign currency spot and forward rates. Fair values of long-term foreign currency exchange contracts are measured using valuations based upon quoted prices for similar assets and liabilities in active markets and are valued by reference to similar financial instruments, adjusted for terms specific to the contracts. The fair values of the cross-currency interest rate swaps are determined using a market approach that is based on observable inputs other than quoted market prices, including contract terms, interest rates, currency rates, and other market factors. The estimated fair value of the acquisition contingent consideration was determined using a Monte-Carlo simulation model. The inputs include the closing price of Concentrix common stock as of the reporting period end date, Concentrix-specific historical equity volatility, and the risk-free rate.

The effect of nonperformance risk on the fair value of derivative instruments was not material as of November 30, 2023 and 2022.

The carrying values of term deposits with maturities less than one year, accounts receivable and accounts payable approximate fair value due to their short maturities and interest rates that are variable in nature. The carrying values of the outstanding balance on the term loan under the Company’s senior credit facility and the outstanding balance on the Securitization Facility approximate their fair values since they bear interest rates that are similar to existing market rates. The fair values of the 2026 Notes, 2028 Notes, and 2033 Notes (as defined in Note 9) were based on quoted prices in active markets and are classified within Level 2 of the fair value hierarchy. The Company does not adjust the quoted market prices for such financial instruments.

During fiscal years 2023, 2022 and 2021, there were no transfers between the fair value measurement category levels.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Nov. 30, 2023

Accounting Policies [Abstract]

Property, Plant and Equipment Useful Life

The ranges of estimated useful lives for property and equipment categories are as follows:


Equipment and furniture			3 - 10 years
Software			3 - 7 years
Leasehold improvements			2 - 15 years
Buildings and building improvements			10 - 39 years

Property and equipment, net:

The following table summarizes the carrying amounts and related accumulated depreciation for property and equipment as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Land	$	28,039	$	27,336
Equipment, computers and software	762,961		542,209
Furniture and fixtures	157,425		89,167
Buildings, building improvements and leasehold improvements	566,384		362,218
Construction-in-progress	35,175		14,975
Total property and equipment, gross	$	1,549,984	$	1,035,905
Less: Accumulated depreciation	(801,293)		(632,076)
Property and equipment, net	$	748,691	$	403,829

Shown below are the countries where 10% or more and other significant concentrations of the Company’s property and equipment, net are located as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Property and equipment, net:
United States	$	123,335	$	123,184
Philippines	75,943		76,361
France	65,599		284
India	51,248		42,698
Others	432,566		161,302
Total	$	748,691	$	403,829

Schedule of Intangible Assets Useful Life


Customer relationships			10 - 15 years
Technology			5 years
Trade names			3 - 5 years
Non-compete agreements			3 years

As of November 30, 2023 and 2022, the Company’s other intangible assets consisted of the following:


	As of November 30, 2023						As of November 30, 2022
	Gross amounts		Accumulated amortization		Net amounts		Gross amounts		Accumulated amortization		Net amounts
Customer relationships	$	3,670,246	$	(1,011,201)	$	2,659,045	$	1,731,610	$	(811,727)	$	919,883
Technology	79,739		(36,174)		43,565		79,728		(21,820)		57,908
Trade names	118,823		(17,255)		101,568		14,552		(8,291)		6,261
Non-compete agreements	2,200		(1,413)		787		2,200		(680)		1,520
	$	3,871,008	$	(1,066,043)	$	2,804,965	$	1,828,090	$	(842,518)	$	985,572

BORROWINGS - Narrative (Details)							1 Months Ended	3 Months Ended	12 Months Ended
BORROWINGS - Narrative (Details)	Sep. 25, 2023 USD ($)	Sep. 25, 2023 EUR (€)	Apr. 21, 2023 USD ($)	Aug. 31, 2022 USD ($)	Jul. 06, 2022 USD ($)	Dec. 27, 2021	Sep. 30, 2023 USD ($)	Aug. 31, 2023 USD ($)	Nov. 30, 2023 USD ($)	Nov. 30, 2022 USD ($)	Nov. 30, 2021 USD ($)	Sep. 25, 2023 EUR (€)	Aug. 02, 2023 USD ($)	Mar. 29, 2023 USD ($)	Oct. 30, 2020 USD ($)
Debt Instrument [Line Items]
Cash paid for debt issuance costs									$ 30,519,000	$ 9,331,000	$ 0
Webhelp
Debt Instrument [Line Items]
Interest rate	2.00%											2.00%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt	$ 1,915,197,000
Business Acquisition, Note Payable Consideration \| €		€ 700,000,000
Business Acquisition, Note Payable Discount \| €												€ 31,500
Debt Instrument, Imputed Annual Interest Rate	4.36%											4.36%
Business Acquisition, Note Payable Discounted Value	$ 711,830											€ 668,500
Term Loan
Debt Instrument [Line Items]
Repayments of the Prior Credit Facility - Term Loan									25,000,000	225,000,000	$ 0
Bridge Facility
Debt Instrument [Line Items]
Cash paid for debt issuance costs									21,617,000
Bridge Facility \| Webhelp
Debt Instrument [Line Items]
Bridge Loan			$ 2,145,298,000										$ 0	$ 5,290,000,000
Bridge Facility - Term Loan Amendment Tranche \| Webhelp
Debt Instrument [Line Items]
Bridge Loan			0											1,850,000,000
Bridge Facility - Revolver Amendment Tranche \| Webhelp
Debt Instrument [Line Items]
Bridge Loan			0											1,000,000,000
Bridge Facility - Acquisition Tranche \| Webhelp
Debt Instrument [Line Items]
Bridge Loan														$ 2,440,000,000
Debt Instrument, Increase (Decrease), Net			$ 294,702,000
Restated Credit Facility
Debt Instrument [Line Items]
Cash paid for debt issuance costs								$ 3,369,000
Securitization Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity					$ 500,000,000
Credit Facility - Term Loan component									128,500,000	356,500,000
Securitization Facility \| Commercial Paper Rate
Debt Instrument [Line Items]
Basis spread on variable rate					0.70%
Securitization Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate					0.80%
Debt Instrument, Basis Spread on Variable Rate, Adjustment					0.10%
Prior Securitization Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity															$ 350,000,000
6.650% Senior Notes due 2026
Debt Instrument [Line Items]
Senior Notes									$ 800,000,000	0			$ 800,000,000
Interest rate	6.65%								6.65%			6.65%	6.65%
6.600% Senior Notes due 2028
Debt Instrument [Line Items]
Senior Notes									$ 800,000,000	0			$ 800,000,000
Interest rate	6.66%								6.60%			6.66%	6.60%
6.850% Senior Notes due 2033
Debt Instrument [Line Items]
Senior Notes									$ 550,000,000	0			$ 550,000,000
Interest rate									6.85%				6.85%
Senior Notes
Debt Instrument [Line Items]
Cash paid for debt issuance costs									$ 19,300,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Consolidated leverage ratio			3.75
Consolidated interest coverage ratio			3.00
Senior Secured Credit Facility \| Certain Period Following Certain Qualified Acquisition
Debt Instrument [Line Items]
Consolidated leverage ratio			4.25
Senior Secured Credit Facility \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			0.10%
Senior Secured Credit Facility \| Base Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Interest rate floor			1.00%
Senior Secured Credit Facility \| Revolver
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 1,042,500,000
Amount outstanding									0	0
Increase in credit facility			500,000,000
Senior Secured Credit Facility \| Term Loan
Debt Instrument [Line Items]
Quarterly installment payment				$ 26,250,000
Credit facility, maximum borrowing capacity			2,144,700,000
Proceeds from Lines of Credit	$ 294,702,000
Credit Facility - Term Loan component			$ 1,850,000,000				$ 1,950,000,000		1,950,000,000	$ 1,875,000,000
Repayments of Long-Term Debt							$ 194,702,000
Repayments of the Prior Credit Facility - Term Loan									$ 25,000,000
Senior Secured Credit Facility \| Minimum \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1.125%			1.25%
Senior Secured Credit Facility \| Minimum \| Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate						0.25%
Senior Secured Credit Facility \| Minimum \| Base Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			0.125%
Senior Secured Credit Facility \| Maximum \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			2.00%			2.00%
Senior Secured Credit Facility \| Maximum \| Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate						1.00%
Senior Secured Credit Facility \| Maximum \| Base Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Senior Secured Credit Facility \| Federal Funds Rate \| Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Senior Secured Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| SOFR Rate Loans
Debt Instrument [Line Items]
Interest rate floor			0.00%			0.00%
Senior Secured Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate						1.00%
Senior Secured Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Minimum \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate						0.10%
Senior Secured Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Maximum \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate						0.25%

STOCKHOLDERS’ EQUITY

12 Months Ended

Nov. 30, 2023

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 16—STOCKHOLDERS’ EQUITY:

Share repurchase program

In September 2021, the Company’s board of directors authorized the repurchase of up to $500,000 of the Company’s outstanding shares of common stock from time to time as market and business conditions warrant, including through open market purchases or Rule 10b5-1 trading plans. The repurchase program has no termination date and may be suspended or discontinued at any time. During the fiscal years ended November 30, 2023 and 2022, the Company repurchased 709 and 842 shares, respectively, of its common stock for an aggregate purchase price of $63,958 and $120,819, respectively. The share repurchases were made on the open market and the shares repurchased by the Company are held in treasury for general corporate purposes. At November 30, 2023, approximately $290,127 remained available for share repurchases under the existing authorization from the Company’s board of directors.

During December 2023, the Company repurchased 66 shares of its common stock for an aggregate purchase price of $6,347.

Dividends

During fiscal years 2023 and 2022, the Company paid the following dividends per share approved by the Company’s board of directors:


Announcement Date	Record Date	Per Share Dividend Amount	Payment Date
January 18, 2022	January 28, 2022	$0.25	February 8, 2022
March 29, 2022	April 29, 2022	$0.25	May 10, 2022
June 27, 2022	July 29, 2022	$0.25	August 9, 2022
September 28, 2022	October 28, 2022	$0.275	November 8, 2022
January 19, 2023	January 30, 2023	$0.275	February 10, 2023
March 29, 2023	April 28, 2023	$0.275	May 9, 2023
June 28, 2023	July 28, 2023	$0.275	August 8, 2023
September 27, 2023	October 27, 2023	$0.3025	November 7, 2023

On January 24, 2024, the Company announced a cash dividend of $0.3025 per share to stockholders of record as of February 5, 2024, payable on February 15, 2024.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 14
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
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-Paragraph 6
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 13
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

PENSION AND EMPLOYEE BENEFITS PLANS - Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Total investments	$ 126,752	$ 137,351
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	3,951	4,034
Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	122,763	133,202
Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	38	115
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total investments	3,951	4,034
Cash and cash equivalents \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	3,951	4,034
Cash and cash equivalents \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Cash and cash equivalents \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total investments	55,550	47,439
Fixed income \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Fixed income \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	55,550	47,439
Fixed income \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
U.S. large cap
Defined Benefit Plan Disclosure [Line Items]
Total investments	24,816	31,352
U.S. large cap \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
U.S. large cap \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	24,816	31,352
U.S. large cap \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
U.S. small cap
Defined Benefit Plan Disclosure [Line Items]
Total investments	6,641	8,567
U.S. small cap \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
U.S. small cap \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	6,641	8,567
U.S. small cap \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
International equity
Defined Benefit Plan Disclosure [Line Items]
Total investments	25,556	36,773
International equity \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
International equity \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	25,556	36,773
International equity \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Governmental bonds
Defined Benefit Plan Disclosure [Line Items]
Total investments	6,245	6,073
Governmental bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Governmental bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	6,245	6,073
Governmental bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Total investments	3,955	2,998
Corporate bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Corporate bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	3,955	2,998
Corporate bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Investment funds
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Investment funds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Investment funds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Investment funds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Limited partnership
Defined Benefit Plan Disclosure [Line Items]
Total investments	38	115
Limited partnership \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Limited partnership \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Limited partnership \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Total investments	$ 38	$ 115

ACQUISITIONS AND DIVESTITURES (Details) - Webhelp Pro Forma - Webhelp - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	$ 9,485,600	$ 8,919,195
Business Acquisition, Pro Forma Net Income (Loss)	$ 177,611	$ 238,242

Equity (Tables)

12 Months Ended

Nov. 30, 2023

Equity [Abstract]

Dividends Declared

During fiscal years 2023 and 2022, the Company paid the following dividends per share approved by the Company’s board of directors:


Announcement Date	Record Date	Per Share Dividend Amount	Payment Date
January 18, 2022	January 28, 2022	$0.25	February 8, 2022
March 29, 2022	April 29, 2022	$0.25	May 10, 2022
June 27, 2022	July 29, 2022	$0.25	August 9, 2022
September 28, 2022	October 28, 2022	$0.275	November 8, 2022
January 19, 2023	January 30, 2023	$0.275	February 10, 2023
March 29, 2023	April 28, 2023	$0.275	May 9, 2023
June 28, 2023	July 28, 2023	$0.275	August 8, 2023
September 27, 2023	October 27, 2023	$0.3025	November 7, 2023

On January 24, 2024, the Company announced a cash dividend of $0.3025 per share to stockholders of record as of February 5, 2024, payable on February 15, 2024.

BORROWINGS (Tables)

12 Months Ended

Nov. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

orrowings consist of the following:


	As of November 30,
	2023		2022
Other loans	$	2,313	$	—
Current portion of long-term debt	$	2,313	$	—

6.650% Senior Notes due 2026	$	800,000	$	—
6.600% Senior Notes due 2028	800,000		—
6.850% Senior Notes due 2033	550,000		—
Credit Facility - Term Loan component	1,950,000		1,875,000
Securitization Facility	128,500		356,500
Sellers' Note	762,286		—
Other loans	5,301		—
Long-term debt, before unamortized debt discount and issuance costs	4,996,087		2,231,500
Less: unamortized debt discount and issuance costs	(56,375)		(7,212)
Long-term debt, net	$	4,939,712	$	2,224,288

Schedule of Maturities of Long-term Debt

As of November 30, 2023, future principal payments under the above loans for the subsequent fiscal years are as follows:


	Amount
Fiscal Years Ending November 30,
2024	$	130,813
2025	767,587
2026	819,768
2027	1,930,232
2028	800,000
Thereafter	550,000
Total	$	4,998,400

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Current tax provision (benefit):
Federal	$ 78,961	$ 65,423	$ 54,809
State	11,064	5,151	8,058
Foreign	126,072	129,613	112,981
Current tax provision (benefit)	216,097	200,187	175,848
Deferred tax provision (benefit):
Federal	(97,371)	(19,596)	(19,119)
State	(12,850)	(12,303)	(2,798)
Foreign	(11,490)	1,075	(3,812)
Deferred tax provision (benefit)	(121,711)	(30,824)	(25,729)
Total income tax provision	$ 94,386	$ 169,363	$ 150,119

ACQUISITIONS AND DIVESTITURES - Webhelp Intangible Assets (Details) - Webhelp $ in Thousands	Sep. 25, 2023 USD ($)
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 1,984,000
Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 1,882,000
Intangible assets useful life	15 years
Trade names
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 102,000
Intangible assets useful life	3 years

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Pay vs Performance Disclosure
Net income before non-controlling interest	$ 313,842	$ 435,049	$ 405,577

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

BORROWINGS - Long Term Debt Maturity (Details) $ in Thousands	Nov. 30, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 130,813
2025	767,587
2026	819,768
2027	1,930,232
2027	800,000
Long-Term Debt, Maturity, after Year Five	550,000
Total	$ 4,998,400

ACQUISITIONS AND DIVESTITURES - Webhelp Consideration (Details) $ / shares in Units, $ in Thousands, € in Millions			12 Months Ended
	Sep. 25, 2023 USD ($) $ / shares shares	Sep. 25, 2023 EUR (€)	Nov. 30, 2023 USD ($) $ / shares shares	Nov. 30, 2022 USD ($) $ / shares shares	Nov. 30, 2021 USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 1,914,079	$ 1,698,261	$ 3,279
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001	$ 0.0001
Common stock, shares issued (in shares) \| shares	14,862,000		67,883,000	52,367,000
Webhelp
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross, Cash Consideration for Stock	$ 529,160	€ 500.0
Payments to Acquire Businesses, Gross, Cash Consideration for Repayment of Debt, Including Accrued Interest	1,915,197
Cash paid for acquisition	2,444,357
Business Combination, Consideration Transferred, Other	1,084,894
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	32,919
Business Combination, Consideration Transferred, Liabilities Incurred	711,830	€ 700.0
Business Combination, Consideration Transferred	4,274,000
Cash Acquired from Acquisition	521,602
Payments to Acquire Businesses, Net of Cash Acquired	$ 3,752,398
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001

Label	Element	Value
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	$ 45.84
Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	$ 51.53

BORROWINGS - Schedule of Debt (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Sep. 30, 2023	Sep. 25, 2023	Aug. 02, 2023	Apr. 21, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Other Loans Payable, Current	$ 2,313					$ 0
Notes Payable	762,286					0
Other Loans Payable	5,301					0
Total	4,996,087					2,231,500
Less: unamortized debt discount and issuance costs	(56,375)					(7,212)
Long-term debt, net	4,939,712					2,224,288
Securitization Facility
Debt Instrument [Line Items]
Credit Facility - Term Loan component	$ 128,500					356,500
6.650% Senior Notes due 2026
Debt Instrument [Line Items]
Interest rate	6.65%		6.65%	6.65%
Senior Notes	$ 800,000			$ 800,000		0
6.600% Senior Notes due 2028
Debt Instrument [Line Items]
Interest rate	6.60%		6.66%	6.60%
Senior Notes	$ 800,000			$ 800,000		0
6.850% Senior Notes due 2033
Debt Instrument [Line Items]
Interest rate	6.85%			6.85%
Senior Notes	$ 550,000			$ 550,000		0
Senior Secured Credit Facility \| Term Loan
Debt Instrument [Line Items]
Credit Facility - Term Loan component	$ 1,950,000	$ 1,950,000			$ 1,850,000	$ 1,875,000

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 70,963	$ 47,447	$ 47,913
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	5,819	42,749	3,602
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	6,071
Reductions for tax positions of prior years			(1,638)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities		(4,882)	(2,108)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	(4,938)	(14,351)	(426)
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation	1,407		104
Ending balance	$ 79,322	$ 70,963	$ 47,447

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Nov. 30, 2023
Accounting Policies [Abstract]
Basis of presentation (including principles of consolidation)	Basis of presentation (including principles of consolidation) The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, its majority-owned subsidiaries and entities over which the Company has control. All intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain amounts in the consolidated financial statements related to the prior years have been reclassified to conform to the current year’s presentation.
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. The Company evaluates these estimates on a regular basis and bases them on historical experience and on various assumptions that the Company believes are reasonable. Actual results could differ from the estimates.
Segment reporting	Segment reporting Concentrix operations are based on an integrated global delivery model whereby services under a client contract in one location may be provided from delivery centers located in one or more different countries, with a significant portion of the Company’s workforce located in the Philippines and India. Given the homogeneity of technology-infused CX services and the integrated delivery model, the Company operates in a single segment, based on how the chief operating decision maker (“CODM”) views and evaluates the Company’s operations in making operational and strategic decisions and assessments of financial performance. The Company’s President and Chief Executive Officer has been identified as the CODM.
Cash equivalents	Cash equivalents The Company considers all highly liquid debt instruments purchased with an original maturity or remaining maturity at the date of purchase of three months or less to be cash equivalents. Cash equivalents consist principally of money market deposit accounts that are stated at cost, which approximates fair value. The Company is exposed to credit risk in the event of default by financial institutions to the extent that cash balances with financial institutions are in excess of amounts that are insured.
Accounts receivable and allowance for doubtful accounts	Accounts receivable and allowance for doubtful accounts Accounts receivable are comprised primarily of amounts owed to the Company by clients and are presented net of an allowance for doubtful accounts. The allowance for doubtful accounts is an estimate to cover the losses resulting from uncertainty regarding collections from customers to make payments for outstanding balances. In estimating the required allowance, the Company considers the overall quality and aging of the accounts receivable and credit evaluations of its clients’ financial condition. The Company also evaluates the collectability of accounts receivable based on specific client circumstances, current economic trends, historical experience with collections and the value and adequacy of any collateral received from clients.
Unbilled receivables	Unbilled receivables For the majority of service contracts, the Company performs the services prior to billing the client, and this amount is captured as an unbilled receivable included in accounts receivable, net on the consolidated balance sheet. Billing usually occurs in the month after the Company performs the services or in accordance with the specific contractual provisions.
Accounts Receivable Factoring	Accounts receivable factoring Following the combination with Webhelp (as further described in Note 3), the Company has continued Webhelp’s pre-existing factoring program with certain clients to sell accounts receivable under non-recourse agreements in exchange for cash proceeds. Since the acquisition date through November 30, 2023, the Company sold $312,894 of receivables under these agreements. In some instances, the Company may continue to service the transferred receivables after factoring has occurred. However, any servicing of the trade receivable does not constitute significant continuing involvement and the Company does not carry any material servicing assets or liabilities.
Derivative financial instruments	Derivative financial instruments The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value. For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of “Accumulated other comprehensive income (loss),” in stockholders’ equity and reclassified into earnings in the same line associated with the forecasted transactions, in the same period or periods during which the hedged transaction affects earnings. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. For derivative instruments that are not designated as cash flow hedges, gains and losses on derivative instruments are reported in the consolidated statements of operations in the current period.
Software costs	Software costs The Company develops software platforms for internal use. The Company capitalizes costs incurred to develop software subsequent to the software product reaching the application development stage. The Company also capitalizes the costs incurred to extend the life of existing software, or the cost of significant enhancements that are added to the features of existing software. The capitalized development costs primarily comprise payroll costs and related software costs. Capitalized costs are amortized over the economic life of the software using the straight line method.
Property and equipment	Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight line method based upon the shorter of the estimated useful lives of the assets, or the lease term of the respective assets, if applicable. Maintenance and repairs are charged to expense as incurred, and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is reflected in operations in the period realized.
Leases	Leases The Company enters into leases as a lessee for property and equipment in the ordinary course of business. When procuring services, or upon entering into a contract with its clients, the Company determines whether an arrangement contains a lease at its inception. As part of that evaluation, the Company considers whether there is an implicitly or explicitly identified asset in the arrangement and whether the Company, as the lessee, or the client, if the Company is the lessor, has the right to control the use of that asset. When the Company is the lessee, all leases with a term of more than 12 months are recognized as right-of-use (“ROU”) assets and associated lease liabilities in the consolidated balance sheet. Lease liabilities are measured at the lease commencement date and determined using the present value of the lease payments not yet paid, at the Company’s incremental borrowing rate, which approximates the rate at which the Company would borrow on a secured basis in the country where the lease was executed. The interest rate implicit in the lease is generally not determinable in the transactions where the Company is the lessee. The ROU asset equals the lease liability adjusted for any initial direct costs, prepaid rent and lease incentives. The Company’s variable lease payments generally relate to payments tied to various indexes, non-lease components and payments above a contractual minimum fixed amount. Operating leases are included in other assets, net, other accrued liabilities and other long-term liabilities in the consolidated balance sheet. Substantially all of the Company’s leases are classified as operating leases. The Company recognizes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company made a policy election to not recognize leases with a lease term of 12 months or less in the consolidated balance sheet. Lease expenses are recorded within selling, general, and administrative expenses in the consolidated statements of operations. Operating lease payments are presented within “Cash flows from operating activities” in the consolidated statements of cash flows. For all asset classes, the Company has elected the lessee practical expedient to combine lease and non-lease components (e.g., maintenance services) and account for the consolidated unit as a single lease component. Variable lease payments are recognized in the periods in which the obligations for those payments are incurred.
Business combinations	Business combinations The purchase price of a business combination is allocated to the assets acquired, liabilities assumed, and non-controlling interests in the acquired entity generally based on their fair values at the acquisition date. The excess of the fair value of purchase consideration over the fair value of these assets acquired, liabilities assumed and non-controlling interests in the acquired entity is recorded as goodwill. The primary items that generate goodwill include the value of the synergies between the acquired entity and the Company and the value of the acquired assembled workforce, neither of which qualify for recognition as an intangible asset. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. The Company includes the results of operations of the acquired business in the consolidated financial statements prospectively from the date of acquisition. Acquisition-related charges are recognized separately from the business combination and are expensed as incurred. These charges primarily include direct third-party professional and legal fees and integration-related costs.
Goodwill and intangible assets	Goodwill and intangible assets The Company tests goodwill for impairment annually at the reporting unit level in the fiscal fourth quarter or more frequently if events or changes in circumstances indicate that it may be impaired. For purposes of the goodwill impairment test, the Company can elect to perform a quantitative or qualitative analysis. If the qualitative analysis is elected, goodwill is tested for impairment at the reporting unit level by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. The factors that are considered in the qualitative analysis include: macroeconomic conditions; industry and market considerations; cost factors such as increases in labor, or other costs that would have a negative effect on earnings and cash flows; and other relevant entity-specific events and information. If the Company elects to perform or is required to perform a quantitative analysis, then the reporting unit’s carrying value is compared to its fair value. As part of this analysis, the Company reconciles the fair value of its reporting unit to its market capitalization. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value and the excess is recognized as an impairment loss. No goodwill impairment has been identified for any of the fiscal years presented in these consolidated financial statements. The values assigned to intangible assets are based on estimates and judgment regarding expectations for the length of customer relationships and the success of the life cycle of technologies acquired in a business combination. Purchased intangible assets are amortized over the useful lives based on estimates of the use of the economic benefit of the asset or by using the straight line method. Intangible assets consist of customer relationships, technology, trade names and non-compete agreements. Amortization is based on the pattern over which the economic benefits of the intangible assets will be consumed or, when the consumption pattern is not apparent, by using the straight line method over the following useful lives:
Impairment of long-lived assets	Impairment of long-lived assets The Company reviews the recoverability of its long-lived assets, such as intangible assets subject to amortization, property and equipment and certain other assets, including lease right-of-use assets, when events or changes in circumstances occur that indicate the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows, undiscounted and without interest charges, of the related operations. If these cash flows are less than the carrying value of such assets, an impairment loss is recognized for the difference between estimated fair value and carrying value.
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially subject the Company to significant concentration of credit risk consist principally of cash and cash equivalents, accounts receivable and derivative instruments. The Company’s cash and cash equivalents and derivative instruments are transacted and maintained with financial institutions with high credit standing, and their compositions and maturities are regularly monitored by management. Through November 30, 2023, the Company has not experienced any credit losses on such deposits and derivative instruments. Accounts receivable comprise amounts due from clients. The Company performs ongoing credit evaluations of its clients’ financial condition and limits the amount of credit extended when deemed necessary, but generally requires no collateral. The Company also maintains allowances for potential credit losses. In estimating the required allowances, the Company takes into consideration the overall quality and aging of its receivable portfolio and specifically identified client risks. In fiscal years 2023 and 2022, no client accounted for more than 10% of the Company’s consolidated revenue. In fiscal year 2021, one client accounted for 11.9% of the Company’s consolidated revenue. As of November 30, 2023, no client comprised more than 10% of the Company’s total accounts receivable balance. As of November 30, 2022, one client comprised 12.4% of the Company’s total accounts receivable balance.
Revenue recognition	Revenue recognition The Company generates revenue primarily from the provision of CX solutions and technology to its clients. The Company recognizes revenue from services contracts over time as the promised services are delivered to clients for an amount that reflects the consideration to which the Company is entitled in exchange for those services. The Company recognizes revenue over time as the client simultaneously receives and consumes the benefits provided by the Company as the Company performs the services. The Company accounts for a contract with a client when it has written approval, the contract is committed, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is presented net of taxes collected from clients and remitted to government authorities. The Company generally invoices a client after performance of services, or in accordance with specific contractual provisions. Payments are due as per contract terms and do not contain a significant financing component. The Company determines whether the services performed during the initial phases of an arrangement, such as setup activities, are distinct. In most cases, the arrangement is a single performance obligation comprised of a series of distinct services that are substantially the same and that have the same pattern of transfer (i.e., distinct days of service). Service contracts are most significantly based on a fixed unit-price per transaction or other objective measure of output. Revenue on unit-price transactions is recognized over time using an objective measure of output such as staffing hours or the number of transactions processed by service advisors. Certain contracts may be based on a fixed price. Revenue on fixed price contracts is recognized over time using an input measure or on a straight-line basis over the term of the contract as the services are provided based on the nature of the contract. Client contract terms can range from less than one year to more than five years. Certain client contracts include incentive payments from the client upon achieving certain agreed-upon service levels and performance metrics or service level agreements that could result in credits or refunds to the client. Revenue relating to such arrangements is accounted for as variable consideration when the likely amount of revenue to be recognized can be estimated to the extent that it is probable that a significant reversal of any incremental revenue will not occur.
Cost of revenue	Cost of revenue Recurring direct operating costs for services are recognized as incurred. Cost of services revenue consists primarily of personnel costs and transition and initial set up costs.
Selling, general and administrative expenses	Selling, general and administrative expenses Selling, general and administrative expenses are charged to income as incurred. Expenses of promoting and selling products and services are classified as selling expense and include such items as compensation, sales commissions and travel. General and administrative expenses include such items as compensation, cost of delivery centers, legal and professional costs, office supplies, non-income taxes, insurance and utility expenses. In addition, selling, general and administrative expenses include other operating items such as allowances for credit losses, depreciation and amortization of intangible assets.
Advertising	Advertising Costs related to advertising and service promotion expenditures are charged to “Selling, general and administrative expenses” as incurred. To date, net costs related to advertising and promotion expenditures have not been material.
Income taxes	Income taxes The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements using enacted tax rates and laws that will be in effect when the difference is expected to reverse. Tax on global low-taxed intangible income is accounted for as a current expense in the period in which the income is includable in a tax return using the “period cost” method. Valuation allowances are provided against deferred tax assets that are not likely to be realized. The Company recognizes tax benefits from uncertain tax positions only if that tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The Company recognizes interest and penalties related to unrecognized tax benefits in the provisions for income taxes.
Foreign currency translations	Foreign currency translations The functional currencies of the legal entities’ financial statements included in these consolidated financial statements are the local currencies of the legal entities and are translated into U.S. dollars for consolidation as follows: assets and liabilities at the exchange rate as of the balance sheet date, equity at the historical rates of exchange, and income and expense amounts at the average exchange rate for the month. Translation adjustments resulting from the translation of the legal entities’ accounts are included in “Accumulated other comprehensive income (loss).” Transactions denominated in currencies other than the applicable functional currency are converted to the functional currency at the exchange rate on the transaction date. At period end, monetary assets and liabilities are remeasured to the functional currency using exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are remeasured at historical exchange rates. Gains and losses resulting from foreign currency transactions are included within “Other expense (income), net.”
Other comprehensive income	Other comprehensive income The primary components of other comprehensive income for the Company include foreign currency translation adjustments arising from the Company’s foreign legal entities, unrealized gains and losses on qualifying hedges, and changes in unrecognized pension and post-retirement benefits.
Share-based compensation	Share-based compensation Share-based compensation cost for stock options, restricted stock awards and restricted stock units is determined based on the fair value at the measurement date. The Company recognizes share-based compensation cost as expense for these awards ratably on a straight-line basis over the requisite service period. Share-based compensation for performance-based restricted stock units is measured based on fair value at the initial measurement date and is adjusted each reporting period, as necessary, to reflect changes in management’s assessment of the probability that performance conditions will be satisfied and, for certain awards, for changes in the trading price of the Company’s common stock. The Company recognizes share-based compensation cost associated with its performance-based restricted stock units over the requisite service period if it is probable that the performance conditions will be satisfied. The Company accounts for expense reductions that result from the forfeiture of unvested awards in the period that the forfeitures occur.
Pension and post-retirement benefits	Pension and post-retirement benefits The funded status of the Company’s pension and other post-retirement benefit plans is recognized in the consolidated balance sheets. The funded status is measured as the difference between the fair value of plan assets and the benefit obligation at November 30, the measurement date. For defined benefit pension plans, the benefit obligation is the projected benefit obligation (“PBO”) and, for the other post-retirement benefit plans, the benefit obligation is the accumulated post-retirement benefit obligation (“APBO”). The PBO represents the actuarial present value of benefits expected to be paid upon retirement. For active plans, the present value reflects estimated future compensation levels. The APBO represents the actuarial present value of post-retirement benefits attributed to employee services already rendered. The fair value of plan assets represents the current market value of assets held by an irrevocable trust fund for the sole benefit of participants. The measurement of the benefit obligation is based on the Company’s estimates and actuarial valuations. These valuations reflect the terms of the plans and use participant-specific information such as compensation, age and years of service, as well as certain key assumptions that require significant judgment, including, but not limited to, estimates of discount rates, expected return on plan assets, inflation, rate of compensation increases, interest crediting rates and mortality rates. The assumptions used are reviewed on an annual basis.
Earnings per common share	Earnings per common share Basic and diluted earnings per common share are calculated using the two-class method. The two-class method is an earnings allocation proportional to the respective ownership among holders of common stock and participating securities. The Company’s restricted stock awards and, effective in the fourth quarter of fiscal year 2023, restricted stock units are considered participating securities. These restricted stock awards and units are considered participating securities because holders have a non-forfeitable right to receive dividends. Basic earnings per common share is computed by dividing net income attributable to the Company’s common stockholders by the weighted-average common shares outstanding during the period. Diluted earnings per common share also considers the dilutive effect of in-the-money stock options and non-participating securities, calculated using the treasury stock method.
Treasury stock	Treasury stock Repurchases of shares of common stock are accounted for at cost and are included as a component of stockholders’ equity in the consolidated balance sheets.
Accounting pronouncements adopted and recently issued accounting pronouncements not yet adopted	Accounting pronouncements recently adopted In December 2019, the Financial Accounting Standards Board (the “FASB”) issued new guidance that simplified the accounting for income taxes. The guidance was effective for annual reporting periods beginning after December 15, 2020, and interim periods within those reporting periods. This standard became effective for the Company in fiscal year 2022 and did not have a material impact on the consolidated financial statements. In November 2023, the FASB issued accounting standards update (“ASU”) 2023-07, which enhances the disclosures required for reportable segments in annual and interim consolidated financial statements. ASU 2023-07 is effective for the Company for annual reporting periods beginning with the fiscal year ending November 30, 2025 and for interim reporting periods beginning in fiscal year 2026. Early adoption is permitted. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregated information related to income taxes paid. The amendments in ASU 2023-09 are effective for the fiscal year ending November 30, 2026. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements. No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the consolidated financial statements.

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Share-Based Payment Arrangement [Abstract]
Total share-based compensation	$ 62,493	$ 47,516	$ 36,762
Tax benefit recorded in the provision for income taxes	(15,623)	(12,069)	(9,234)
Effect on net income	$ 46,870	$ 35,447	$ 27,528

PENSION AND EMPLOYEE BENEFITS PLANS - Defined Benefit Plan Liability (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation	$ 188,058	$ 200,198
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Current liability	16,946	14,913
Non-current liability	64,867	56,902
Total	$ 81,813	$ 71,815

PENSION AND EMPLOYEE BENEFITS PLANS - Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Retirement Benefits [Abstract]
Service costs	$ 6,937	$ 7,031	$ 8,148
Interest costs	$ 10,306	$ 6,828	$ 6,284
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Expected return on plan assets	$ (6,208)	$ (6,562)	$ (6,032)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Amortization and deferrals, net	$ 98	$ 1,540	$ 4,542
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Settlements	$ 195	$ 600	$ 485
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Total pension costs	$ 11,328	$ 9,437	$ 13,427

PENSION AND EMPLOYEE BENEFITS PLANS - Expected Benefit Payments (Details) $ in Thousands	Nov. 30, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 31,972
2025	27,109
2026	24,723
2027	23,079
2028	21,847
Thereafter	95,187
Total	$ 223,917

BALANCE SHEET COMPONENTS (Tables)

12 Months Ended

Nov. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Schedule of Cash and Cash Equivalents


	As of November 30,
	2023		2022
Cash and cash equivalents	$	295,336	$	145,382
Restricted cash included in other current assets	221,151		12,081
Cash, cash equivalents and restricted cash	$	516,487	$	157,463

Schedule of Restricted Cash and Cash Equivalents


	As of November 30,
	2023		2022
Cash and cash equivalents	$	295,336	$	145,382
Restricted cash included in other current assets	221,151		12,081
Cash, cash equivalents and restricted cash	$	516,487	$	157,463

Schedule of Accounts Receivable

Accounts receivable, net:

Accounts receivable, net is comprised of the following as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Billed accounts receivable	$	1,082,469	$	782,049
Unbilled accounts receivable	818,954		613,222
Less: Allowance for doubtful accounts	(12,533)		(4,797)
Accounts receivable, net	$	1,888,890	$	1,390,474

Schedule of Allowance for Doubtful Trade Receivables

Allowance for doubtful trade receivables:

Presented below is a progression of the allowance for doubtful trade receivables:


	Fiscal Years Ended November 30,
	2023		2022		2021
Balance at beginning of period	$	4,797	$	5,421	$	8,963
Net additions (reductions)	10,236		3,329		(202)
Write-offs and reclassifications	(2,500)		(3,953)		(3,340)
Balance at end of period	$	12,533	$	4,797	$	5,421

Property, Plant and Equipment

The ranges of estimated useful lives for property and equipment categories are as follows:


Equipment and furniture			3 - 10 years
Software			3 - 7 years
Leasehold improvements			2 - 15 years
Buildings and building improvements			10 - 39 years

Property and equipment, net:

The following table summarizes the carrying amounts and related accumulated depreciation for property and equipment as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Land	$	28,039	$	27,336
Equipment, computers and software	762,961		542,209
Furniture and fixtures	157,425		89,167
Buildings, building improvements and leasehold improvements	566,384		362,218
Construction-in-progress	35,175		14,975
Total property and equipment, gross	$	1,549,984	$	1,035,905
Less: Accumulated depreciation	(801,293)		(632,076)
Property and equipment, net	$	748,691	$	403,829

Shown below are the countries where 10% or more and other significant concentrations of the Company’s property and equipment, net are located as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Property and equipment, net:
United States	$	123,335	$	123,184
Philippines	75,943		76,361
France	65,599		284
India	51,248		42,698
Others	432,566		161,302
Total	$	748,691	$	403,829

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows:


	Unrecognized gains (losses) on defined benefit plan, net of taxes		Unrealized gains (losses) on hedges, net of taxes		Foreign currency translation adjustment and other, net of taxes		Total
Balance, November 30, 2021	$	(22,745)	$	(1,403)	$	(46,378)	$	(70,526)
Other comprehensive income (loss) before reclassification	14,274		(45,464)		(240,986)		(272,176)
Reclassification of (gains) losses from other comprehensive income (loss)	—		26,953		—		26,953
Balance, November 30, 2022	$	(8,471)	$	(19,914)	$	(287,364)	$	(315,749)
Other comprehensive income (loss) before reclassification	(2,800)		10,610		102,419		110,229
Reclassification of gains from other comprehensive income (loss)	—		13,793		—		13,793
Balance, November 30, 2023	$	(11,271)	$	4,489	$	(184,945)	$	(191,727)

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Nov. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

INCOME TAXES

12 Months Ended

Nov. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES:

The sources of income before the provision for income taxes are as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
United States	$	(51,820)	$	7,883	$	66,274
Foreign	460,048		597,120		489,422
Total income before income taxes	$	408,228	$	605,003	$	555,696

Provision for income taxes consists of the following:


	Fiscal Years Ended November 30,
	2023		2022		2021
Current tax provision (benefit):
Federal	$	78,961	$	65,423	$	54,809
State	11,064		5,151		8,058
Foreign	126,072		129,613		112,981
	$	216,097	$	200,187	$	175,848
Deferred tax provision (benefit):
Federal	$	(97,371)	$	(19,596)	$	(19,119)
State	(12,850)		(12,303)		(2,798)
Foreign	(11,490)		1,075		(3,812)
	(121,711)		(30,824)		(25,729)
Total income tax provision	$	94,386	$	169,363	$	150,119

The following presents the breakdown of net deferred tax liabilities after netting by taxing jurisdiction:


	As of November 30,
	2023		2022
Deferred tax assets	$	72,333	$	48,541
Deferred tax liabilities	414,246		105,458
Total net deferred tax liabilities	$	341,913	$	56,917

Net deferred tax liabilities consist of the following:


	As of November 30,
	2023		2022
Assets:
Net operating losses	$	138,930	$	143,593
Accruals and other reserves	55,528		41,119
Depreciation and amortization	73,234		13,319
U.S. interest limitation carry forward	33,318		4,026
Share-based compensation expense	7,867		7,505
Deferred revenue	5,429		4,335
Tax credits	5,082		8,415
Foreign tax credit	915		1,373
Operating lease liabilities	190,348		95,935
Intercompany loans payable	81,654		62,544
Other	37,713		17,616
Gross deferred tax assets	630,018		399,780
Valuation allowance	(117,679)		(103,169)
Total deferred tax assets	$	512,339	$	296,611
Liabilities:
Intangible assets	$	636,194	$	232,930
Unremitted non-US earnings	45,250		31,223
Operating lease right-of-use assets	172,808		89,375
Total deferred tax liabilities	854,252		353,528
Net deferred tax liabilities	$	341,913	$	56,917

The valuation allowance relates primarily to certain state and foreign net operating loss carry forwards, foreign deferred items and state credits. The Company’s assessment is that it is not more likely than not that these deferred tax assets will be realized.

A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective income tax rate is as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal income tax benefit	(1.0)	%	(1.4)	%	0.6	%
International rate difference	(2.3)	%	(2.7)	%	(1.0)	%
Withholding taxes	2.5	%	1.1	%	0.4	%
Uncertain tax benefits	1.3	%	(0.3)	%	0.3	%
Changes in valuation allowance	1.7	%	1.3	%	(1.6)	%
Impact of inclusion of foreign income (1)	(4.7)	%	9.2	%	2.8	%
Other (2)	4.6	%	(0.2)	%	4.5	%
Effective income tax rate	23.1	%	28.0	%	27.0	%

(1) Represents Subpart F income, Base Erosion and Anti-Abuse Tax (BEAT), and Global Intangible Low-Taxed Income (GILTI) (less Section 250 deduction), net of associated foreign tax credits.

The Company’s U.S. business has sufficient cash flow and liquidity to fund its operating requirements and the Company expects and intends that profits earned outside the United States will be fully utilized and reinvested outside of the United States with the exception of earnings of certain acquired non-U.S. entities. The Company has recorded deferred tax liabilities related to non-U.S. withholding taxes on the earnings of its non-U.S. subsidiaries likely to be repatriated in the future.

As of November 30, 2023, the Company had approximately $2,078,260 of undistributed earnings of its non-U.S. subsidiaries for which it has not provided for non-U.S. withholding taxes and state taxes because such earnings are intended to be reinvested indefinitely in international operations. It is not practicable to determine the amount of applicable taxes that would be due if such earnings were distributed. Accordingly, the Company has not provisioned U.S. state taxes and non-U.S. withholding taxes on the non-U.S. legal entities for which the earnings are permanently reinvested.

As of November 30, 2023, the Company had net operating loss carry forwards of approximately $310,536 and $40,792 for federal and state purposes, respectively. The federal net operating loss carry forward and the state net operating loss carry forwards will begin to expire in the fiscal year ending November 30, 2024. The Company also had approximately $179,929 of foreign net operating loss carry forwards that will also begin to expire in fiscal year ending November 30, 2024 if not used. In addition, the Company has approximately $6,384 of various federal and state income tax credit carry forwards that, if not used, will begin to expire in the fiscal year ending November 30, 2024. Utilization of the acquired loss carry forwards may be limited pursuant to Section 382 of the Internal Revenue Code of 1986.

The Company enjoys tax holidays in certain jurisdictions, primarily Algeria, China, Colombia, Costa Rica, Dominican Republic, El Salvador, Estonia, Guatemala, Honduras, India, Jordan, Latvia, Madagascar, Nicaragua, the Philippines and Turkey. The tax holidays provide for lower or zero rates of taxation and require various thresholds of investment and business activities in those jurisdictions. The estimated tax benefits from the above tax holidays for fiscal years 2023, 2022, and 2021 were approximately $7,961, $10,315, and $9,160, respectively.

The aggregate changes in the balances of gross unrecognized tax benefits, excluding accrued interest and penalties, during fiscal years 2023, 2022, and 2021 were as follows:


Balance as of November 30, 2020	$	47,913
Additions based on tax positions related to the current year	3,602
Reductions for tax positions of prior years	(1,638)
Settlements	(2,108)
Lapse of statute of limitations	(426)
Changes due to translation of foreign currencies	104
Balance as of November 30, 2021	47,447
Additions based on tax positions related to the current year	42,749
Settlements	(4,882)
Lapse of statute of limitations	(14,351)
Balance as of November 30, 2022	70,963
Additions based on tax positions related to the current year	5,819
Additions based on tax positions related to the prior year / acquisition	6,071
Lapse of statute of limitations	(4,938)
Changes due to translation of foreign currencies	1,407
Balance as of November 30, 2023	$	79,322

The Company conducts business globally and files income tax returns in various U.S. and non-U.S. jurisdictions. The Company is subject to continuous examination and audits by various tax authorities. Significant audits are underway in the United States and India. The Company is not aware of any material exposures arising from these tax audits or in other jurisdictions not already provided for.

Although timing of the resolution of audits and/or appeals is highly uncertain, the Company believes it is reasonably possible that the total amount of unrecognized tax benefits as of November 30, 2023 could decrease between $34,854 and $37,817 in the next twelve months. The Company is no longer subject to U.S. federal income tax audit for returns covering years through fiscal year 2017. The Company is no longer subject to non-U.S. or U.S. state income tax audits for returns covering years through fiscal year 2012 and fiscal year 2014, respectively.

The liability for unrecognized tax benefits was $87,939 and $78,501 at November 30, 2023 and November 30, 2022, respectively, and is included in other long-term liabilities in the consolidated balance sheets. As of November 30, 2023 and 2022, $52,779 and $40,793 of the total unrecognized tax benefits, net of federal benefit, would affect the effective tax rate, if realized. The Company’s policy is to include interest and penalties related to income taxes, including unrecognized tax benefits, within the provision for income taxes. As of November 30, 2023 and 2022, the Company had accrued $8,617 and $7,538, respectively, in income taxes payable related to accrued interest and penalties.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 72,333	$ 48,541
Deferred tax liabilities	414,246	105,458
Total net deferred tax liabilities	$ 341,913	$ 56,917

REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 7,114,706	$ 6,324,473	$ 5,587,015
Philippines
Disaggregation of Revenue [Line Items]
Revenue	1,585,878	1,476,706	1,335,326
United States
Disaggregation of Revenue [Line Items]
Revenue	1,304,797	1,388,514	884,777
India
Disaggregation of Revenue [Line Items]
Revenue	898,250	811,492	723,495
Canada
Disaggregation of Revenue [Line Items]
Revenue	317,410	326,162	338,255
Germany
Disaggregation of Revenue [Line Items]
Revenue	232,729	232,282	233,001
Great Britain
Disaggregation of Revenue [Line Items]
Revenue	205,437	211,219	307,109
Others
Disaggregation of Revenue [Line Items]
Revenue	2,570,205	1,878,098	1,765,052
Technology and consumer electronics
Disaggregation of Revenue [Line Items]
Revenue	2,205,834	1,980,666	1,759,203
Retail, travel and ecommerce
Disaggregation of Revenue [Line Items]
Revenue	1,448,666	1,184,086	985,550
Communications and media
Disaggregation of Revenue [Line Items]
Revenue	1,117,694	1,076,289	1,005,283
Banking, financial services and insurance
Disaggregation of Revenue [Line Items]
Revenue	1,091,853	967,810	862,033
Other
Disaggregation of Revenue [Line Items]
Revenue	554,393	507,453	485,091
Healthcare
Disaggregation of Revenue [Line Items]
Revenue	$ 696,266	$ 608,169	$ 489,855

LEASES - Operating Lease Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 225,142	$ 196,168	$ 200,096
Non-cash ROU assets obtained in exchange for lease liabilities	$ 152,071	$ 191,055	$ 156,406

PENSION AND EMPLOYEE BENEFITS PLANS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Contributed amount	$ 89,767	$ 83,792	$ 72,561
Net benefit costs	11,328	$ 9,437	$ 13,427
Employer contributions	$ 4,522
Defined Benefit Plan, Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Investment plan asset category percentage	49.00%	49.00%
Targeted allocation percentage	50.00%	50.00%
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Investment plan asset category percentage	51.00%	51.00%
Targeted allocation percentage	50.00%	50.00%
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation percentage	39.00%	28.00%

EARNINGS PER SHARE

12 Months Ended

Nov. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE:

Basic and diluted earnings per common share (“EPS”) are computed using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security.


	Fiscal Years Ended November 30,
	2023		2022		2021
Basic earnings per common share:
Net income	$	313,842	$	435,049	$	405,577
Less: net income allocated to participating securities(1)	(6,001)		(6,631)		(5,785)
Net income attributable to common stockholders	$	307,841	$	428,418	$	399,792

Weighted average common shares - basic	53,801		51,353		51,355

Basic earnings per common share	$	5.72	$	8.34	$	7.78

Diluted earnings per common share:
Net income	$	313,842	$	435,049	$	405,577
Less: net income allocated to participating securities(1)	(5,978)		(6,583)		(5,724)
Net income attributable to common stockholders	$	307,864	$	428,466	$	399,853

Weighted-average number of common shares - basic	53,801		51,353		51,355
Effect of dilutive securities:
Stock options and restricted stock units	209		387		559
Weighted-average number of common shares - diluted	54,010		51,740		51,914

Diluted earnings per common share	$	5.70	$	8.28	$	7.70

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 313,842	$ 435,640	$ 405,577
Other comprehensive income (loss):
Unrealized gains (losses) of defined benefit plans, net of taxes of $(894), $(4,329), and $(2,761) for fiscal years ended November 30, 2023, 2022 and 2021, respectively	(2,800)	14,274	15,839
Unrealized gains (losses) on hedges during the period, net of taxes of $(4,938), $15,427, and $2,709 for fiscal years ended November 30, 2023, 2022 and 2021, respectively	10,610	(45,464)	(8,396)
Reclassification of net (gains) losses on hedges to net income, net of taxes of $(4,594), $(9,276), and $7,498 for fiscal years ended November 30, 2023, 2022 and 2021, respectively	13,793	26,953	(22,246)
Total change in unrealized gains (losses) on hedges, net of taxes	24,403	(18,511)	(30,642)
Foreign currency translation adjustments, net of taxes of $0 for fiscal years ended November 30, 2023, 2022 and 2021, respectively	102,419	(240,986)	(51,909)
Other comprehensive income (loss)	124,022	(245,223)	(66,712)
Comprehensive income	437,864	190,417	338,865
Less: Comprehensive income attributable to non-controlling interest	0	591	0
Comprehensive income attributable to Concentrix Corporation	$ 437,864	$ 189,826	$ 338,865

BALANCE SHEET COMPONENTS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,549,984	$ 1,035,905
Less: Accumulated depreciation	(801,293)	(632,076)
Property and equipment, net	748,691	403,829
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	123,335	123,184
Philippines
Property, Plant and Equipment [Line Items]
Property and equipment, net	75,943	76,361
India
Property, Plant and Equipment [Line Items]
Property and equipment, net	51,248	42,698
Others
Property, Plant and Equipment [Line Items]
Property and equipment, net	432,566	161,302
FRANCE
Property, Plant and Equipment [Line Items]
Property and equipment, net	65,599	284
Land
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	28,039	27,336
Equipment, computers and software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	762,961	542,209
Equipment and furniture
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	157,425	89,167
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	566,384	362,218
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 35,175	$ 14,975

CONSOLIDATED BALANCE SHEETS - USD ($)	Nov. 30, 2023	Nov. 30, 2022
Current assets:
Cash and cash equivalents	$ 295,336,000	$ 145,382,000
Accounts receivable, net	1,888,890,000	1,390,474,000
Other current assets	674,423,000	218,476,000
Total current assets	2,858,649,000	1,754,332,000
Property and equipment, net	748,691,000	403,829,000
Goodwill	5,078,668,000	2,904,402,000
Intangible assets, net	2,804,965,000	985,572,000
Deferred tax assets	72,333,000	48,541,000
Other assets	928,521,000	573,092,000
Total assets	12,491,827,000	6,669,768,000
Current liabilities:
Accounts payable	243,565,000	161,190,000
Current portion of long-term debt	2,313,000	0
Accrued compensation and benefits	731,172,000	506,966,000
Other accrued liabilities	1,016,406,000	395,304,000
Income taxes payable	80,583,000	68,663,000
Total current liabilities	2,074,039,000	1,132,123,000
Long-term debt, net	4,939,712,000	2,224,288,000
Other long-term liabilities	920,536,000	511,995,000
Deferred tax liabilities	414,246,000	105,458,000
Total liabilities	8,348,533,000	3,973,864,000
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of November 30, 2023 and 2022, respectively	0	0
Common stock, $0.0001 par value, 250,000 shares authorized; 67,883 and 52,367 shares issued as of November 30, 2023 and 2022, respectively, and 65,734 and 51,096 shares outstanding as of November 30, 2023 and 2022, respectively	7,000	5,000
Additional paid-in capital	3,582,521,000	2,428,313,000
Treasury stock, 2,149 and 1,271 shares as of November 30, 2023 and 2022, respectively	(271,968,000)	(190,779,000)
Retained earnings	1,024,461,000	774,114,000
Accumulated other comprehensive loss	(191,727,000)	(315,749,000)
Total stockholders’ equity	4,143,294,000	2,695,904,000
Total liabilities and stockholders’ equity	$ 12,491,827,000	$ 6,669,768,000

REVENUE

12 Months Ended

Nov. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE:

Disaggregated revenue

In the following tables, the Company’s revenue is disaggregated by primary industry verticals and geographic locations:


	Fiscal Years Ended November 30,
	2023		2022		2021
Industry vertical:
Technology and consumer electronics	$	2,205,834	$	1,980,666	$	1,759,203
Retail, travel and ecommerce	1,448,666		1,184,086		985,550
Communications and media	1,117,694		1,076,289		1,005,283
Banking, financial services and insurance	1,091,853		967,810		862,033
Healthcare	696,266		608,169		489,855
Other	554,393		507,453		485,091
Total	$	7,114,706	$	6,324,473	$	5,587,015

The following table presents revenue by geographical locations where the Company’s services are delivered. Shown below are the countries that account for the Company’s revenue for the periods presented:


	Fiscal Years Ended November 30,
	2023		2022		2021
Revenue by geography:
Philippines	$	1,585,878	$	1,476,706	$	1,335,326
United States	1,304,797		1,388,514		884,777
India	898,250		811,492		723,495
Canada	317,410		326,162		338,255
Germany	232,729		232,282		233,001
Great Britain	205,437		211,219		307,109
Others	2,570,205		1,878,098		1,765,052
Total	$	7,114,706	$	6,324,473	$	5,587,015

Deferred revenue contract liabilities and deferred costs to obtain or fulfill a contract are not material.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

LEASES - Operating Lease Liability Maturity (Details) $ in Thousands	Nov. 30, 2023 USD ($)
Leases [Abstract]
2024	$ 277,969
2025	227,589
2026	161,175
2027	108,655
2028	74,024
Thereafter	151,430
Total payments	1,000,842
Less: imputed interest	148,542
Total present value of lease payments	$ 852,300

EARNINGS PER SHARE - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Basic earnings per common share:
Net income before non-controlling interest	$ 313,842	$ 435,049	$ 405,577
Less: net income allocated to participating securities	(6,001)	(6,631)	(5,785)
Net income attributable to common stockholders	$ 307,841	$ 428,418	$ 399,792
Weighted-average number of common shares - basic (in shares)	53,801	51,353	51,355
Basic earnings per common share (in dollars per share)	$ 5.72	$ 8.34	$ 7.78
Diluted earnings per common share:
Net income before non-controlling interest	$ 313,842	$ 435,049	$ 405,577
Less: net income allocated to participating securities	(5,978)	(6,583)	(5,724)
Net income attributable to common stockholders	$ 307,864	$ 428,466	$ 399,853
Weighted-average number of common shares - basic (in shares)	53,801	51,353	51,355
Effect of dilutive securities:
Stock options and restricted stock units (in shares)	209	387	559
Weighted-average number of common shares - diluted (in shares)	54,010	51,740	51,914
Diluted earnings per common share (in dollars per share)	$ 5.70	$ 8.28	$ 7.70

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Nov. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS:

Goodwill

The Company tests goodwill for impairment annually as of the fourth quarter of its fiscal year and at other times if events have occurred or circumstances exist that indicate the carrying value of goodwill may no longer be recoverable. Goodwill impairment testing is performed at the reporting unit level. Based on the current year assessment, the Company concluded that no impairment charges were necessary for the Company’s reporting unit. The Company has not recorded any impairment charges related to goodwill during the three-year period ended November 30, 2023.

Below is a progression of goodwill for fiscal years 2023 and 2022:


	Fiscal Years Ended November 30,
	2023		2022
Balance, beginning of year	$	2,904,402	$	1,813,502
Acquisitions	2,085,344		1,165,072
Acquisition measurement period adjustments	(10,592)		—
Foreign currency translation	99,514		(74,172)
Balance, end of year	$	5,078,668	$	2,904,402

Other Intangible Assets

The Company’s other intangible assets, primarily acquired through business combinations, are subject to amortization and are evaluated periodically if events or circumstances indicate a possible inability to recover their carrying amounts. No impairment charges were recognized in any period presented. As of November 30, 2023 and 2022, the Company’s other intangible assets consisted of the following:


	As of November 30, 2023						As of November 30, 2022
	Gross amounts		Accumulated amortization		Net amounts		Gross amounts		Accumulated amortization		Net amounts
Customer relationships	$	3,670,246	$	(1,011,201)	$	2,659,045	$	1,731,610	$	(811,727)	$	919,883
Technology	79,739		(36,174)		43,565		79,728		(21,820)		57,908
Trade names	118,823		(17,255)		101,568		14,552		(8,291)		6,261
Non-compete agreements	2,200		(1,413)		787		2,200		(680)		1,520
	$	3,871,008	$	(1,066,043)	$	2,804,965	$	1,828,090	$	(842,518)	$	985,572

Amortization expense for intangible assets was $214,832, $162,673, and $136,939 for the fiscal years ended November 30, 2023, 2022 and 2021, respectively, and the related estimated expense for the five subsequent fiscal years and thereafter is as follows:


Fiscal Years Ending November 30,	Amortization Expense
2024	$	462,969
2025	430,917
2026	383,247
2027	289,852
2028	245,713
Thereafter	992,267
Total	$	2,804,965

The remaining weighted average amortization period for customer relationships and other intangible assets is approximately 14 years.

Audit Information	12 Months Ended
Audit Information	Nov. 30, 2023
Auditor Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Cincinnati, Ohio
Auditor Firm ID	185

GOODWILL AND INTANGIBLE ASSETS - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Goodwill [Roll Forward]
Balance, beginning of year	$ 2,904,402	$ 1,813,502
Acquisitions	2,085,344	1,165,072
Foreign currency translation	99,514	(74,172)
Balance, end of year	5,078,668	2,904,402
Goodwill, Purchase Accounting Adjustments	$ (10,592)	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

ACQUISITIONS AND DIVESTITURES - Webhelp Assets Acquired and Liabilities Assumed (Details) - USD ($)	Sep. 25, 2023	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Goodwill		$ 5,078,668,000	$ 2,904,402,000	$ 1,813,502,000
Webhelp
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 332,749,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	457,264,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	454,906,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	325,753,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	1,984,000,000
Goodwill	2,085,344,000
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	17,680,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	408,884,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	6,066,580,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	68,132,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accrued Compensation and Benefits	268,213,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	563,738,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Income Taxes Payable	72,052,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-Term Debt	8,589,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	410,918,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	400,938,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	1,792,580,000
Business Combination, Consideration Transferred	4,274,000,000
Restricted Cash	$ 188,853,000

ACQUISITIONS AND DIVESTITURES (Details) - PK Purchase Price Allocation - USD ($) $ in Thousands	Dec. 27, 2021	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Goodwill		$ 5,078,668	$ 2,904,402	$ 1,813,502
PK
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 30,798
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	85,367
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	11,158
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use-Assets	12,288
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	469,300
Goodwill	1,119,068
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	26,449
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	1,754,428
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	78,092
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	12,288
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	51,418
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	2,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	143,798
Business Combination, Consideration Transferred	$ 1,610,630

DERIVATIVE INSTRUMENTS - Effect of Derivative Instruments on AOCI and Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Designated as Hedging Instrument
Derivative [Line Items]
(Losses) gains recognized in OCI	$ 15,548	$ (60,891)	$ (11,105)
Not Designated as Hedging Instrument
Derivative [Line Items]
(Loss) gain recognized from foreign exchange forward contracts, net	(27,636)	(57,983)	(2,880)
Foreign Exchange Forward \| Designated as Hedging Instrument
Derivative [Line Items]
(Losses) gains recognized in OCI	19,199	(60,891)	(11,105)
Gains reclassified from AOCI into income	(18,387)	(36,229)	29,744
Foreign Exchange Forward \| Revenue for services \| Designated as Hedging Instrument
Derivative [Line Items]
Gains reclassified from AOCI into income	222	0	0
Foreign Exchange Forward \| Cost of revenue for services \| Designated as Hedging Instrument
Derivative [Line Items]
Gains reclassified from AOCI into income	(13,864)	(28,108)	21,138
Foreign Exchange Forward \| Selling, general and administrative expenses \| Designated as Hedging Instrument
Derivative [Line Items]
Gains reclassified from AOCI into income	(4,745)	(8,121)	8,606
Foreign Exchange Forward \| Other expense (income), net \| Not Designated as Hedging Instrument
Derivative [Line Items]
(Loss) gain recognized from foreign exchange forward contracts, net	(13,007)	(57,983)	(2,880)
Cross Currency Interest Rate Contract \| Designated as Hedging Instrument
Derivative [Line Items]
(Losses) gains recognized in OCI	(3,651)	0	0
Foreign Exchange Option \| Other expense (income), net \| Not Designated as Hedging Instrument
Derivative [Line Items]
(Loss) gain recognized from foreign exchange forward contracts, net	$ (14,629)	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets Useful Life (Details)	Nov. 30, 2023
Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	5 years
Non-compete Covenants
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	3 years
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	10 years
Minimum \| Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	3 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	15 years
Maximum \| Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	5 years

ACQUISITIONS AND DIVESTITURES

12 Months Ended

Nov. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combination Disclosure

ACQUISITIONS AND DIVESTITURES:

Webhelp Combination

Background

On September 25, 2023, the Company completed its acquisition (the “Webhelp Combination”) of all of the issued and outstanding capital stock (the “Shares”) of Marnix Lux SA, a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg (“Webhelp Parent”) and the parent company of the Webhelp business (“Webhelp”), from the holders thereof (the “Sellers”). The Webhelp Combination was completed pursuant to the terms and conditions of the Share Purchase and Contribution Agreement, dated as of June 12, 2023, as amended by the First Amendment to the Share Purchase and Contribution Agreement, dated as of July 14, 2023 (the “SPA”), by and among Concentrix, OSYRIS S.à r.l., a private limited liability company (société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg and a direct wholly owned subsidiary of Concentrix Corporation, Webhelp Parent, the Sellers, and certain representatives of the Sellers.

Webhelp is a leading provider of CX solutions, including sales, marketing, and payment services, with significant operations and client relationships in Europe, Latin America, and Africa. Since the closing of the Webhelp Combination, the Company has operated under the trade name “Concentrix + Webhelp” while it transitions Webhelp operations and branding to the Concentrix name.

Preliminary purchase price consideration

The total preliminary purchase price consideration, net of cash and restricted cash acquired, for the acquisition of Webhelp was $3,752.4 million, which was funded by proceeds from the Company’s August 2023 offering and sale of senior notes, term loan borrowings under the Company’s senior credit facility, and cash on hand. See Note 9—Borrowings for a further discussion of the Company’s senior notes, term loan, and senior credit facility.

The preliminary purchase price consideration to acquire Webhelp consisted of the following:


Cash consideration for Shares (1)	$	529,160
Cash consideration for repayment of Webhelp debt and shareholder loan (2)	1,915,197
Total cash consideration	2,444,357
Equity consideration (3)	1,084,894
Earnout shares contingent consideration (4)	32,919
Sellers’ note consideration (5)	711,830
Total consideration transferred	4,274,000
Less: Cash and restricted cash acquired (6)	521,602
Total purchase price consideration	$	3,752,398

(1) Represents the cash consideration paid, and to be paid, in the aggregate amount of €500,000, as adjusted in accordance with the SPA.

(2) Represents the cash consideration paid to repay Webhelp’s outstanding senior loan debt and shareholder loan.

(3) Represents the issuance of 14,862 shares of common stock, par value $0.0001 per share, of Concentrix Corporation (the “Concentrix common stock”).

(4) Represents the contingent right for the Sellers to earn additional shares of Concentrix common stock (the “Earnout Shares”). The estimated fair value of this contingent consideration was determined using a Monte-Carlo simulation model. The inputs include the closing price of Concentrix common stock as of the Closing Date, Concentrix-specific historical equity volatility, and the risk-free rate. See further details below.

(5) Represents a promissory note issued by Concentrix Corporation in the aggregate principal amount of €700,000 to certain Sellers. See Note 9—Borrowings for a further discussion of this promissory note.

(6) Represents the Webhelp cash and restricted cash balance acquired at the Closing Date.

The Company granted Sellers the contingent right to earn an additional 750 shares of Concentrix common stock if certain conditions set forth in the SPA occur, including the share price of Concentrix common stock reaching $170.00 per share within seven years from the closing of the Webhelp Combination (the “Closing Date”) (based on daily volume weighted average prices measured over a specified period). Prior to the Closing Date, Concentrix and certain Sellers entered into stock restriction agreements (the “Stock Restriction Agreements”), pursuant to which such Sellers (the “Restricted Stock Participants”) agreed to contribute in kind to the Company, and the Company agreed to receive, certain of the Restricted Stock Participants’ Shares in exchange for the issuance of shares of Concentrix common stock with certain restrictions thereon (the “Restricted Shares”) in lieu of such Sellers’ right to a portion of the Earnout Shares. On the Closing Date, the Company issued approximately 80 Restricted Shares in exchange for certain of the Restricted Stock Participants’ Shares. The Restricted Shares are non-transferable and non-assignable and are not entitled to any dividends or distributions unless and until the restrictions lapse, as set forth in the Stock Restriction Agreements. The Restricted Shares will be automatically cancelled by the Company for no consideration in the event that the restrictions on the Restricted Shares do not lapse. The Restricted Stock Participants have waived any and all rights as a holder of Restricted Shares to vote on any matter submitted to the holders of Concentrix common stock.

Preliminary purchase price allocation

The acquisition was accounted for as a business combination in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations. The purchase price was allocated to the assets acquired and liabilities assumed based on management’s estimate of the respective fair values at the date of acquisition. Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The factors contributing to the recognition of goodwill were the assembled workforce, comprehensive service portfolio delivery capabilities and strategic benefits that are expected to be realized from the acquisition. None of the goodwill is expected to be deductible for income tax purposes.

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date:


	As of
	September 25, 2023
Assets acquired:
Cash and cash equivalents	$	332,749
Accounts receivable	457,264
Other current assets (1)	454,906
Property and equipment	325,753
Identifiable intangible assets	1,984,000
Goodwill	2,085,344
Deferred tax assets	17,680
Other assets	408,884
	6,066,580

Liabilities assumed:
Accounts payable	68,132
Accrued compensation and benefits	268,213
Other accrued liabilities	563,738
Income taxes payable	72,052
Debt (current portion and long-term)	8,589
Deferred tax liabilities	410,918
Other long-term liabilities	400,938
Total liabilities assumed	1,792,580

Total consideration transferred	$	4,274,000

(1) Includes restricted cash acquired of $188,853.

As of November 30, 2023, the purchase price allocation is preliminary. The preliminary purchase price allocation was based upon a preliminary valuation, and the Company’s estimates and assumptions are subject to change within the measurement period (not to exceed twelve months following the acquisition date). The primary areas of the preliminary purchase price allocation that are not yet finalized relate to the valuation of identifiable intangible assets acquired, the fair value of certain tangible assets acquired and liabilities assumed, and deferred income taxes. The Company expects to continue to obtain information for the purpose of determining the fair value

of the assets acquired and liabilities assumed on the acquisition date throughout the remainder of the measurement period.

The preliminary purchase price allocation includes $1,984,000 of acquired identifiable intangible assets, all of which have finite lives. The fair value of the identifiable intangible assets has been estimated by using the income approach through a discounted cash flow analysis of certain cash flow projections. The cash flow projections are based on forecasts used by the Company to price the Webhelp Combination, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. The intangible assets are being amortized over their estimated useful lives on either a straight-line basis or an accelerated method that reflects the economic benefit of the asset. The determination of the useful lives is based upon various industry studies, historical acquisition experience, economic factors, and future forecasted cash flows of the Company following the acquisition of Webhelp.

The preliminary amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Amortization Method

Customer relationships

1,882,000

15 years

Accelerated

Trade name

102,000

3 years

Straight-line

Total

1,984,000

Supplemental Pro Forma Information (unaudited)

The supplemental pro forma financial information presented below is for illustrative purposes only, does not include the pro forma adjustments that would be required under Regulation S-X for pro forma financial information, is not necessarily indicative of the financial position or results of operations that would have been realized if the combination with Webhelp had been completed on December 1, 2021, does not reflect synergies that might have been achieved, nor is it indicative of future operating results or financial position. The pro forma adjustments are based upon currently available information and certain assumptions that the Company believes are reasonable under the circumstances.

The supplemental pro forma financial information reflects pro forma adjustments to present the combined pro forma results of operations as if the combination with Webhelp had occurred on December 1, 2021 to give effect to certain events that the Company believes to be directly attributable to the acquisition. These pro forma adjustments primarily include:

•A net increase in amortization expense that would have been recognized due to acquired identifiable intangible assets.

•A net increase to interest expense to reflect the additional borrowings of Concentrix incurred in connection with the combination as previously described and the repayment of Webhelp’s historical debt in conjunction with the combination.

•The related income tax effects of the adjustments noted above.

The supplemental pro forma financial information for the prior fiscal years ended November 30, 2023 and 2022 is as follows:


	Fiscal Years Ended November 30,
	2023		2022
Revenue	$	9,485,600	$	8,919,195
Net income	177,611		238,242

Results of acquired operations

The results of the acquired operations of Webhelp have been included in the consolidated financial statements since the acquisition date. The following table provides the results of acquired operations included in the consolidated statement of operations from the acquisition date through November 30, 2023:


	Fiscal Year Ended
	November 30, 2023
Revenue	$	574,351
Income before income taxes	1,302

PK Acquisition

Background

On December 27, 2021, the Company completed its acquisition of PK, a leading CX design engineering company with more than 5,000 staff in four countries. PK creates pioneering experiences that accelerate digital outcomes for their clients’ customers, partners and staff. The acquisition of PK expanded the Company’s scale in the digital IT services market and supported the Company’s growth strategy of investing in digital transformation to deliver exceptional customer experiences. The addition of the PK staff and technology to the Company’s team further strengthened its capabilities in CX design and development, artificial intelligence (“AI”), intelligent automation, and customer loyalty.

Purchase price consideration

The total purchase price consideration, net of cash and restricted cash acquired, for the acquisition of PK was $1,573.3 million, which was funded by proceeds from the Company’s term loan under its prior credit agreement dated as of October 16, 2020 (the “Prior Credit Facility”) and additional borrowings under its accounts receivable securitization facility (the “Securitization Facility”). See Note 9—Borrowings for a further discussion of the Company’s term loan, senior credit facility and the Securitization Facility.

The purchase price consideration to acquire PK consisted of the following:


Cash consideration for PK stock (1)	$	1,177,342
Cash consideration for PK vested equity awards (2)	246,229
Cash consideration for repayment of PK debt, including accrued interest (3)	148,492
Cash consideration for transaction expenses of PK (4)	22,842
Total cash consideration	1,594,905
Non-cash equity consideration for conversion of PK equity awards (5)	15,725
Total consideration transferred	1,610,630
Less: Cash and restricted cash acquired (6)	37,310
Total purchase price consideration	$	1,573,320

(1) Represents the cash consideration paid for the outstanding shares of PK common stock, which includes the final settlement of the merger consideration adjustment paid pursuant to the merger agreement.

(2) Represents the cash consideration paid for certain vested PK stock option awards and restricted stock unit awards.

(3) Represents the cash consideration paid to retire PK’s outstanding third-party debt, including accrued interest.

(4) Represents the cash consideration paid for expenses incurred by PK in connection with the merger and paid by Concentrix pursuant to the merger agreement. These expenses primarily related to third-party consulting services.

(5) Represents the issuance of vested Concentrix stock options that were issued in conversion of certain vested PK stock options that were assumed by Concentrix pursuant to the merger agreement.

(6) Represents the PK cash and restricted cash balance acquired at the acquisition.

Purchase price allocation

The acquisition was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations. The purchase price was allocated to the assets acquired, liabilities assumed and non-controlling interest based on management’s estimate of the respective fair values at the date of acquisition. Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The factors contributing to the recognition of goodwill were the assembled workforce, comprehensive service portfolio delivery capabilities and strategic benefits that are expected to be realized from the acquisition. None of the goodwill is deductible for income tax purposes.

The following table summarizes the final fair values of the assets acquired, liabilities assumed and non-controlling interest as of the acquisition date:


	As of
	December 27, 2021
Assets acquired:
Cash and cash equivalents	$	30,798
Accounts receivable	85,367
Property and equipment	11,158
Operating lease right-of-use assets	12,288
Identifiable intangible assets	469,300
Goodwill	1,119,068
Other assets	26,449
Total assets acquired	1,754,428

Liabilities assumed and non-controlling interest:
Accounts payable and accrued liabilities	78,092
Operating lease liabilities	12,288
Deferred tax liabilities	51,418
Non-controlling interest	2,000
Total liabilities assumed and non-controlling interest	143,798

Total consideration transferred	$	1,610,630

The purchase price allocation includes $469,300 of acquired identifiable intangible assets, all of which have finite lives. The fair value of the identifiable intangible assets has been estimated by using the income approach through a discounted cash flow analysis of certain cash flow projections. The cash flow projections are based on forecasts used by the Company to price the PK acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. The intangible assets are being amortized over their estimated useful lives on either a straight-line basis or an accelerated method that reflects the economic benefit of the asset. The determination of the useful lives is based upon various industry studies, historical acquisition experience, economic factors, and future forecasted cash flows of the Company following the acquisition of PK.

The amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Acceleration Method

Customer relationships

398,600

15 years

Accelerated

Technology

63,500

5 years

Straight-line

Trade name

5,000

3 years

Straight-line

Non-compete agreements

2,200

3 years

Straight-line

Total

469,300

ServiceSource Acquisition

Background

On July 20, 2022, the Company completed its acquisition of ServiceSource International, Inc. (“ServiceSource”), a global outsourced go-to-market services provider, delivering business-to-business (“B2B”) digital sales and customer success solutions that complemented Concentrix’ offerings in this area.

Purchase price consideration

The total purchase price consideration, net of cash acquired, for the acquisition of ServiceSource was $141.5 million, which was primarily funded by cash on the Company’s balance sheet, as well as borrowings under the Company’s Securitization Facility.

The purchase price consideration to acquire ServiceSource consisted of the following:


Cash consideration for ServiceSource stock (1)	$	150,392
Cash consideration for ServiceSource vested and unvested equity awards (2)	6,704
Cash consideration for repayment of ServiceSource debt, including accrued interest (3)	10,063
Total consideration transferred	167,159
Less: Cash and restricted cash acquired (4)	25,652
Total purchase price consideration	$	141,507

(1) Represents the cash consideration paid for the outstanding shares of ServiceSource common stock.

(2) Represents the cash consideration paid or to be paid for vested and unvested ServiceSource stock option awards, restricted stock units and performance stock units.

(3) Represents the cash consideration paid to retire ServiceSource’s outstanding third-party debt, including accrued interest.

(4) Represents the ServiceSource cash and restricted cash balance acquired at the acquisition.

Purchase price allocation

The purchase price was allocated to the assets acquired and liabilities assumed based on management’s estimate of the respective fair values at the date of acquisition. Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The factors contributing to the recognition of goodwill were the assembled workforce, high-value service delivery capabilities and strategic benefits that are expected to be realized from the acquisition. None of the goodwill is deductible for income tax purposes.

The following table summarizes the final fair values of the assets acquired and liabilities assumed as of the acquisition date:


	As of
	July 20, 2022
Assets acquired:
Cash and cash equivalents	$	24,355
Accounts receivable	40,097
Property and equipment	8,112
Operating lease right-of-use assets	29,487
Identifiable intangible assets	40,200
Goodwill	34,910
Net deferred tax assets	32,701
Other assets	19,649
Total assets acquired	229,511

Liabilities assumed:
Accounts payable and accrued liabilities	32,865
Operating lease liabilities	29,487
Total liabilities assumed	62,352

Total consideration transferred	$	167,159

The purchase price allocation includes $40,200 of acquired identifiable intangible assets, all of which have finite lives. The fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis of certain cash flow projections. The intangible assets are being amortized over their estimated useful lives on either a straight-line basis or an accelerated method that reflects the economic benefit of the asset. The determination of the useful lives is based upon various industry studies, historical acquisition experience, economic factors, and future forecasted cash flows of the Company following the acquisition of ServiceSource. During the measurement period included in the fiscal year ended November 30, 2023, measurement period adjustments were recorded to finalize net deferred tax assets at the acquired value as disclosed in the table above, resulting in a corresponding decrease to goodwill. The purchase price allocation is now final.

The amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Acceleration Method

Customer relationships

31,370

15 years

Accelerated

Technology

5,640

5 years

Straight-line

Trade name

3,190

3 years

Straight-line

Total

40,200

Acquisition-related and integration expenses

In connection with the acquisitions of PK and ServiceSource and the Webhelp Combination, the Company incurred $71,336, $33,763, and $825 of acquisition-related and integration expenses for the fiscal years ended 2023, 2022 and 2021, respectively. These expenses primarily include legal and professional services, cash-settled awards, severance and retention payments and costs associated with lease terminations to integrate the businesses. These

acquisition-related and integration expenses were recorded within selling, general and administrative expenses in the consolidated statement of operations.

Divestitures

In July 2021, the Company completed the sales of its insurance third-party administration operations and software platform, Concentrix Insurance Solutions (“CIS”), and another non-CX solutions business in separate transactions for total cash consideration of approximately $73,708. The divestitures generated a pre-tax gain of approximately $13,197, net of related transaction costs. The gain on divestitures and related transaction costs were included in selling, general and administrative expenses in the consolidated statements of operations for the fiscal year ended November 30, 2021.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Cash flows from operating activities:
Net income before non-controlling interest	$ 313,842	$ 435,640	$ 405,577
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	173,463	146,864	140,236
Amortization	214,832	162,673	136,939
Non-cash share-based compensation	62,113	47,142	36,176
Provision for doubtful accounts	10,236	3,329	(202)
Deferred income taxes	(121,711)	(30,824)	(25,729)
Unrealized foreign exchange loss (gain)	0	374	(305)
Loss on call options	14,629	0	0
Amortization of debt issuance costs	6,089	1,771	1,653
Pension and other post-retirement benefit costs	11,328	9,437	13,427
Pension and other post-retirement plan contributions	(12,143)	(12,776)	(14,563)
Gain on divestitures and related transaction costs	0	0	(13,197)
Change in acquisition contingent consideration	15,681	0	0
Other	306	537	140
Changes in operating assets and liabilities:
Accounts receivable, net	(45,895)	(53,129)	(139,104)
Payable to former parent	0	0	(22,825)
Accounts payable	9,341	14,626	(4,546)
Other operating assets and liabilities	25,897	(124,944)	501
Net cash provided by operating activities	678,008	600,720	514,178
Cash flows from investing activities:
Purchases of property and equipment	(180,532)	(140,018)	(149,079)
Premiums paid for call options	(14,629)	0	0
Acquisitions of business, net of cash and restricted cash acquired	(1,914,079)	(1,698,261)	(3,279)
Proceeds from divestitures, net of cash sold	0	0	73,708
Other investments	0	(1,000)	0
Net cash used in investing activities	(2,109,240)	(1,839,279)	(78,650)
Cash flows from financing activities:
Proceeds from the Securitization Facility	1,964,000	1,831,000	1,316,000
Repayments of the Securitization Facility	(2,192,000)	(1,579,500)	(1,461,000)
Proceeds from the issuance of Senior Notes	2,136,987	0	0
Cash paid for debt issuance costs	(30,519)	(9,331)	0
Purchase of non-controlling interest in subsidiary	0	(2,500)	0
Cash paid for acquired earnout liabilities	(13,309)	0	0
Proceeds from exercise of stock options	7,201	9,588	13,697
Repurchase of common stock for tax withholdings on equity awards	(17,231)	(12,474)	(32,390)
Repurchase of common stock	(63,958)	(120,819)	(25,096)
Dividends paid	(63,495)	(53,430)	(13,082)
Net cash provided by (used in) financing activities	1,802,676	1,237,534	(401,871)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(12,420)	(24,522)	(6,998)
Net increase (decrease) in cash, cash equivalents and restricted cash	359,024	(25,547)	26,659
Cash, cash equivalents and restricted cash at beginning of year	157,463	183,010	156,351
Cash, cash equivalents and restricted cash at end of year	516,487	157,463	183,010
Supplemental disclosures of cash flow information:
Interest paid on borrowings	142,598	67,601	20,775
Income taxes paid	217,252	143,865	159,826
Supplemental disclosure of non-cash investing activities:
Accrued costs for property and equipment purchases	26,374	12,675	16,251
Restated Term Loan
Cash flows from financing activities:
Proceeds from the Prior Credit Facility - Term Loan	294,702	0	0
Repayments of the Prior Credit Facility - Term Loan	(194,702)	0	0
Term Loan
Cash flows from financing activities:
Proceeds from the Prior Credit Facility - Term Loan	0	2,100,000	0
Repayments of the Prior Credit Facility - Term Loan	(25,000)	(225,000)	0
Prior Term Loan
Cash flows from financing activities:
Repayments of the Prior Credit Facility - Term Loan	$ 0	$ (700,000)	$ (200,000)

DERIVATIVE INSTRUMENTS - Fair Value of Derivative Instruments in Balance Sheets (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Sep. 25, 2023	Nov. 30, 2022
Foreign Exchange Forward \| Not Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	$ 2,173,330		$ 1,465,853
Derivative instruments designated as cash flow hedges:
Notional value	2,173,330		1,465,853
Foreign Exchange Forward \| Not Designated as Hedging Instrument \| Other current assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	16,078		22,839
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	16,078		22,839
Foreign Exchange Forward \| Not Designated as Hedging Instrument \| Other accrued liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	20,856		14,934
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	20,856		14,934
Foreign Exchange Forward \| Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	996,667		963,844
Derivative instruments designated as cash flow hedges:
Notional value	996,667		963,844
Foreign Exchange Forward \| Designated as Hedging Instrument \| Other current assets and other assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	14,330		6,389
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	14,330		6,389
Foreign Exchange Forward \| Designated as Hedging Instrument \| Other accrued liabilities and other long-term liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	2,724		32,935
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	2,724		32,935
Cross Currency Interest Rate Contract \| Not Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	471,604	$ 500,000	0
Derivative instruments designated as cash flow hedges:
Notional value	471,604	500,000	0
Cross Currency Interest Rate Contract \| Not Designated as Hedging Instrument \| Other long-term liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	17,219		0
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	$ 17,219		$ 0
Cross Currency Interest Rate Contract \| Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value		500
Derivative instruments designated as cash flow hedges:
Notional value		$ 500

LEASES

12 Months Ended

Nov. 30, 2023

Leases [Abstract]

LEASES

LEASES:

The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2037. The Company’s finance leases are not material.

The following table presents the various components of operating lease costs:


	Fiscal Years Ended November 30,
	2023		2022		2021
Operating lease cost	$	216,774	$	199,609	$	203,508
Short-term lease cost	21,802		20,451		15,767
Variable lease cost	58,283		45,997		40,215
Sublease income	(5,394)		(3,226)		(1,738)
Total operating lease cost	$	291,465	$	262,831	$	257,752

The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of November 30, 2023:


Fiscal Years Ending November 30,
2024	$	277,969
2025	227,589
2026	161,175
2027	108,655
2028	74,024
Thereafter	151,430
Total payments	1,000,842
Less: imputed interest*	148,542
Total present value of lease payments	$	852,300

*Imputed interest represents the difference between undiscounted cash flows and discounted cash flows.

The following amounts were recorded in the consolidated balance sheet as of November 30, 2023 and 2022 related to the Company’s operating leases:


		As of November 30,
Operating leases	Balance sheet location	2023		2022
Operating lease ROU assets	Other assets, net	$	813,590	$	473,039
Current operating lease liabilities	Other accrued liabilities	229,010		158,801
Non-current operating lease liabilities	Other long-term liabilities	623,290		340,673


	Fiscal Years Ended November 30,
Cash flow information	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	225,142	$	196,168	$	200,096
Non-cash ROU assets obtained in exchange for lease liabilities	152,071		191,055		156,406

The weighted-average remaining lease term and discount rate as of November 30, 2023 and 2022, respectively, were as follows:


	As of November 30,
Operating lease term and discount rate	2023		2022
Weighted-average remaining lease term (years)	4.88		3.72
Weighted-average discount rate	6.41	%	5.24	%

BACKGROUND AND BASIS OF PRESENTATION (Details)	Nov. 30, 2023 market
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Primary industry verticals	5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2023
Concentration Risk [Line Items]
Operating lease ROU assets	$ 473,039		$ 813,590
Operating lease liabilities			852,300
Accounts Receivable Factoring, Amount Sold			$ 312,894
Revenue \| Customer Concentration Risk \| One Client
Concentration Risk [Line Items]
Concentration risk percentage		11.90%
Accounts Receivable \| Customer Concentration Risk \| One Client
Concentration Risk [Line Items]
Concentration risk percentage	12.40%

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($)	Nov. 30, 2023	Nov. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Gross amounts	$ 3,871,008,000	$ 1,828,090,000
Accumulated amortization	(1,066,043,000)	(842,518,000)
Net amounts	2,804,965,000	985,572,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross amounts	3,670,246,000	1,731,610,000
Accumulated amortization	(1,011,201,000)	(811,727,000)
Net amounts	2,659,045,000	919,883,000
Technology
Finite-Lived Intangible Assets [Line Items]
Gross amounts	79,739,000	79,728,000
Accumulated amortization	(36,174,000)	(21,820,000)
Net amounts	43,565,000	57,908,000
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross amounts	118,823,000	14,552,000
Accumulated amortization	(17,255,000)	(8,291,000)
Net amounts	101,568,000	6,261,000
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross amounts	2,200,000	2,200,000
Accumulated amortization	(1,413,000)	(680,000)
Net amounts	$ 787,000	$ 1,520,000

LEASES - Operating Lease Weighted Average Remaining Lease Term and Discount Rate (Details)	Nov. 30, 2023	Nov. 30, 2022
Leases [Abstract]
Weighted-average remaining lease term (years)	4 years 10 months 17 days	3 years 8 months 19 days
Weighted-average discount rate	6.41%	5.24%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Statement of Comprehensive Income [Abstract]
Unrealized gains (losses) of defined benefit plans, net of taxes of $(894), $(4,329), and $(2,761) for fiscal years ended November 30, 2023, 2022 and 2021, respectively	$ (894)	$ (4,329)	$ (2,761)
Unrealized gains (losses) on cash flow hedges during the period, net of taxes of $_____, $(11,478), $(5,197) for fiscal years ended November 30, 2021, 2020, and 2019, respectively	(4,938)	15,427	2,709
Reclassification of net (gains) losses on hedges to net income, net of taxes of $(4,594), $(9,276), and $7,498 for fiscal years ended November 30, 2023, 2022 and 2021, respectively	(4,594)	(9,276)	7,498
Foreign currency translation adjustments, net of taxes of $0 for fiscal years ended November 30, 2023, 2022 and 2021, respectively	$ 0	$ 0	$ 0

INCOME TAXES - Income Tax Rate Reconciliation (Details)	12 Months Ended
INCOME TAXES - Income Tax Rate Reconciliation (Details)	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%
State taxes, net of federal income tax benefit	(1.00%)	(1.40%)	0.60%
International rate difference	(2.30%)	(2.70%)	(1.00%)
Withholding taxes	2.50%	1.10%	0.40%
Uncertain tax benefits	1.30%	(0.30%)	0.30%
Changes in valuation allowance	1.70%	1.30%	(1.60%)
Impact of inclusion of foreign income (1)	(4.70%)	9.20%	2.80%
Other	4.60%	(0.20%)	4.50%
Effective income tax rate	23.10%	28.00%	27.00%

ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Nov. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

The preliminary purchase price consideration to acquire Webhelp consisted of the following:


Cash consideration for Shares (1)	$	529,160
Cash consideration for repayment of Webhelp debt and shareholder loan (2)	1,915,197
Total cash consideration	2,444,357
Equity consideration (3)	1,084,894
Earnout shares contingent consideration (4)	32,919
Sellers’ note consideration (5)	711,830
Total consideration transferred	4,274,000
Less: Cash and restricted cash acquired (6)	521,602
Total purchase price consideration	$	3,752,398

(1) Represents the cash consideration paid, and to be paid, in the aggregate amount of €500,000, as adjusted in accordance with the SPA.

(2) Represents the cash consideration paid to repay Webhelp’s outstanding senior loan debt and shareholder loan.

(3) Represents the issuance of 14,862 shares of common stock, par value $0.0001 per share, of Concentrix Corporation (the “Concentrix common stock”).

(6) Represents the Webhelp cash and restricted cash balance acquired at the Closing Date.

The purchase price consideration to acquire PK consisted of the following:


Cash consideration for PK stock (1)	$	1,177,342
Cash consideration for PK vested equity awards (2)	246,229
Cash consideration for repayment of PK debt, including accrued interest (3)	148,492
Cash consideration for transaction expenses of PK (4)	22,842
Total cash consideration	1,594,905
Non-cash equity consideration for conversion of PK equity awards (5)	15,725
Total consideration transferred	1,610,630
Less: Cash and restricted cash acquired (6)	37,310
Total purchase price consideration	$	1,573,320

(2) Represents the cash consideration paid for certain vested PK stock option awards and restricted stock unit awards.

(3) Represents the cash consideration paid to retire PK’s outstanding third-party debt, including accrued interest.

(5) Represents the issuance of vested Concentrix stock options that were issued in conversion of certain vested PK stock options that were assumed by Concentrix pursuant to the merger agreement.

(6) Represents the PK cash and restricted cash balance acquired at the acquisition.

The purchase price consideration to acquire ServiceSource consisted of the following:


Cash consideration for ServiceSource stock (1)	$	150,392
Cash consideration for ServiceSource vested and unvested equity awards (2)	6,704
Cash consideration for repayment of ServiceSource debt, including accrued interest (3)	10,063
Total consideration transferred	167,159
Less: Cash and restricted cash acquired (4)	25,652
Total purchase price consideration	$	141,507

(1) Represents the cash consideration paid for the outstanding shares of ServiceSource common stock.

(2) Represents the cash consideration paid or to be paid for vested and unvested ServiceSource stock option awards, restricted stock units and performance stock units.

(3) Represents the cash consideration paid to retire ServiceSource’s outstanding third-party debt, including accrued interest.

(4) Represents the ServiceSource cash and restricted cash balance acquired at the acquisition.

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date:


	As of
	September 25, 2023
Assets acquired:
Cash and cash equivalents	$	332,749
Accounts receivable	457,264
Other current assets (1)	454,906
Property and equipment	325,753
Identifiable intangible assets	1,984,000
Goodwill	2,085,344
Deferred tax assets	17,680
Other assets	408,884
	6,066,580

Liabilities assumed:
Accounts payable	68,132
Accrued compensation and benefits	268,213
Other accrued liabilities	563,738
Income taxes payable	72,052
Debt (current portion and long-term)	8,589
Deferred tax liabilities	410,918
Other long-term liabilities	400,938
Total liabilities assumed	1,792,580

Total consideration transferred	$	4,274,000

(1) Includes restricted cash acquired of $188,853.

The following table summarizes the final fair values of the assets acquired, liabilities assumed and non-controlling interest as of the acquisition date:


	As of
	December 27, 2021
Assets acquired:
Cash and cash equivalents	$	30,798
Accounts receivable	85,367
Property and equipment	11,158
Operating lease right-of-use assets	12,288
Identifiable intangible assets	469,300
Goodwill	1,119,068
Other assets	26,449
Total assets acquired	1,754,428

Liabilities assumed and non-controlling interest:
Accounts payable and accrued liabilities	78,092
Operating lease liabilities	12,288
Deferred tax liabilities	51,418
Non-controlling interest	2,000
Total liabilities assumed and non-controlling interest	143,798

Total consideration transferred	$	1,610,630

The following table summarizes the final fair values of the assets acquired and liabilities assumed as of the acquisition date:


	As of
	July 20, 2022
Assets acquired:
Cash and cash equivalents	$	24,355
Accounts receivable	40,097
Property and equipment	8,112
Operating lease right-of-use assets	29,487
Identifiable intangible assets	40,200
Goodwill	34,910
Net deferred tax assets	32,701
Other assets	19,649
Total assets acquired	229,511

Liabilities assumed:
Accounts payable and accrued liabilities	32,865
Operating lease liabilities	29,487
Total liabilities assumed	62,352

Total consideration transferred	$	167,159

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The preliminary amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Amortization Method

Customer relationships

1,882,000

15 years

Accelerated

Trade name

102,000

3 years

Straight-line

Total

1,984,000

The amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Acceleration Method

Customer relationships

398,600

15 years

Accelerated

Technology

63,500

5 years

Straight-line

Trade name

5,000

3 years

Straight-line

Non-compete agreements

2,200

3 years

Straight-line

Total

469,300

The amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Acceleration Method

Customer relationships

31,370

15 years

Accelerated

Technology

5,640

5 years

Straight-line

Trade name

3,190

3 years

Straight-line

Total

40,200

Business Acquisition, Pro Forma Information

The supplemental pro forma financial information for the prior fiscal years ended November 30, 2023 and 2022 is as follows:


	Fiscal Years Ended November 30,
	2023		2022
Revenue	$	9,485,600	$	8,919,195
Net income	177,611		238,242

Results of acquired operations


	Fiscal Year Ended
	November 30, 2023
Revenue	$	574,351
Income before income taxes	1,302

ACQUISITIONS AND DIVESTITURES - Divestitures (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2021	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Proceeds from divestitures, net of cash sold		$ 0	$ 0	$ 73,708
Held for sale \| CIS
Business Acquisition [Line Items]
Proceeds from divestitures, net of cash sold	$ 73,708
Pre-tax gain	$ 13,197

EARNINGS PER SHARE - Narrative (Details) - shares	Nov. 30, 2023	Sep. 25, 2023	Nov. 30, 2022
Earnings Per Share [Abstract]
Common stock, shares issued (in shares)	67,883,000	14,862,000	52,367,000

ACQUISITIONS AND DIVESTITURES (Details) - SREV Consideration - USD ($) $ in Thousands			12 Months Ended
	Jul. 20, 2022	Dec. 27, 2021	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 1,914,079	$ 1,698,261	$ 3,279
ServiceSource International, Inc
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 141,507
Payments to Acquire Businesses, Gross, Cash Consideration for Stock	150,392
Payments to Acquire Businesses, Gross, Cash Consideration for Vested and Unvested Equity Awards	6,704
Payments to Acquire Businesses, Gross, Cash Consideration for Repayment of Debt, Including Accrued Interest	10,063
Business Combination, Consideration Transferred	167,159
Cash Acquired from Acquisition	$ 25,652
PK
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 1,573,320
Payments to Acquire Businesses, Gross, Cash Consideration for Stock		1,177,342
Payments to Acquire Businesses, Gross, Cash Consideration for Repayment of Debt, Including Accrued Interest		148,492
Business Combination, Consideration Transferred		1,610,630
Cash Acquired from Acquisition		$ 37,310

PENSION AND EMPLOYEE BENEFITS PLANS

12 Months Ended

Nov. 30, 2023

Retirement Benefits [Abstract]

PENSION AND EMPLOYEE BENEFITS PLANS

PENSION AND EMPLOYEE BENEFITS PLANS:

The Company has a 401(k) plan in the United States under which eligible employees may contribute up to the maximum amount as provided by law. Employees become eligible to participate in the 401(k) plan on the first day of the month after their employment date. The Company may make discretionary contributions under the plan. Employees in most of the Company’s non-U.S. legal entities are covered by government mandated defined contribution plans. During fiscal years 2023, 2022 and 2021, the Company contributed $89,767, $83,792 and $72,561, respectively, to defined contribution plans.

Defined Benefit Plans

For eligible employees in the United States, the Company maintains a frozen defined benefit pension plan (“the cash balance plan”), which includes both a qualified and non-qualified portion. The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund.

The Company maintains funded or unfunded defined benefit pension or retirement plans for certain eligible employees in the Philippines, Malaysia, India, and France. Benefits under these plans are primarily based on years of service and compensation during the years immediately preceding retirement or termination of participation in the plans.

The Company’s measurement date for all defined benefit plans and other post-retirement benefits is November 30. The plan assumptions for both the U.S. and non-U.S. defined benefit pension plans are evaluated annually and are updated as deemed necessary. Net benefit costs related to defined benefit plans were $11,328, $9,437 and $13,427, during fiscal years 2023, 2022 and 2021, respectively.

Components of pension cost for the Company’s defined benefit plans are as follows:


	Fiscal Years Ended November 30,
	2023		2022		2021
Service costs	$	6,937	$	7,031	$	8,148
Interest costs on projected benefit obligation	10,306		6,828		6,284
Expected return on plan assets	(6,208)		(6,562)		(6,032)
Amortization and deferrals, net	98		1,540		4,542
Settlement charges	195		600		485
Total pension costs	$	11,328	$	9,437	$	13,427

Service costs are recorded in cost of services and selling, general and administrative expenses while the remaining components of total pension costs are recorded within other expense (income), net in the consolidated statements of operations.

The status of the Company’s defined benefit plans is summarized below:


	Fiscal Years Ended November 30,
	2023		2022
Change in Benefit Obligation:
Benefit obligation at beginning of year	$	209,166	$	266,620
Service costs	6,937		7,031
Interest costs	10,306		6,828
Actuarial gains (1)	(1,942)		(43,290)
Benefits paid	(13,761)		(16,899)
Acquisitions	12,499		—
Settlements	(14,771)		(4,676)
Foreign currency adjustments	131		(6,448)
Projected obligation at end of year	$	208,565	$	209,166

Change in Plan Assets:
Fair value of plan assets at beginning of year	$	137,351	$	161,931
Actual return on assets	2,358		(20,648)
Settlements	(14,771)		(5,195)
Employer contributions	12,143		12,776
Benefits paid	(10,119)		(10,754)
Foreign currency adjustments	(210)		(759)
Fair value of plan assets at end of year	$	126,752	$	137,351

Funded Status of Plans:
Unfunded status	$	81,813	$	71,815

(1)The actuarial gains in fiscal year 2022 were primarily due to an increase in the discount rate for the Company’s cash balance plan as of the November 30, 2022 measurement date.

Amounts recognized in the consolidated balance sheet and recorded within other accrued liabilities and other long-term liabilities as of November 30, 2023 and 2022 consist of the following:


	As of November 30,
	2023		2022
Current liability	$	16,946	$	14,913
Non-current liability	64,867		56,902
Total	$	81,813	$	71,815

The accumulated benefit obligation for all defined benefit pension plans was $188,058 and $200,198 at November 30, 2023 and 2022, respectively.

The following weighted-average rates were used in determining the benefit obligations as of November 30, 2023 and 2022:


	As of November 30,
	2023		2022
Discount rate	3.6% - 7.1%		4.0% - 7.5%
Interest crediting rate for cash balance plan	4.0	%	4.0	%
Expected rate of future compensation growth	1.8% - 8.0%		1.8% - 8.8%

The following weighted-average rates were used in determining the pension costs for the fiscal years ended November 30, 2023 and 2022:


	Fiscal Years Ended November 30,
	2023		2022
Discount rate	4.0% - 7.5%		1.2% - 5.3%
Interest crediting rate for cash balance plan	4.0	%	4.0	%
Expected return on plan assets	1.0% - 7.0%		1.0% - 7.0%
Expected rate of future compensation growth	1.8% - 8.8%		1.8% - 10.0%

For the cash balance plan, the discount rate reflects the rate at which benefits could effectively be settled and is based on current investment yields of high-quality corporate bonds. The Company uses an actuarially-developed yield curve approach to match the timing of cash flows of expected future benefit payments by applying specific spot rates along the yield curve to determine the assumed discount rate.

The range of discount rates utilized in determining the pension cost and projected benefit obligation of the Company’s defined benefit plans reflects a lower prevalent rate applicable to the frozen cash balance plan for eligible employees in U.S. and a higher applicable rate for the unfunded defined benefit plan for certain eligible employees in the Philippines, France and Malaysia. The plans outside the U.S. represented approximately 39% and 28% of the Company’s total projected benefit obligation for all defined benefit plans as of November 30, 2023 and 2022, respectively.

Plan Assets

As of November 30, 2023 and 2022, plan assets for the cash balance plan consisted of common/collective trusts (of which approximately 49% are invested in equity backed funds and approximately 51% are invested in funds in fixed income instruments) and a private equity fund. The Company’s targeted allocation was 50% equity and 50% fixed income. The investment objectives for the plan assets are to generate returns that will enable the plan to meet its future obligations. The Company’s expected long-term rate of return was determined based on the asset mix of the plan, projected returns, past performance and other factors. The following table sets forth by level within the fair value hierarchy, total plan assets at fair value as of November 30, 2023 and 2022, including the cash balance plan and other funded benefit plans:


Investments	As of November 30, 2023		As of Quoted Prices in Active Markets for Identical Assets (Level 1)		As of Significant Other Observable Inputs (Level 2)		As of Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	3,951	$	3,951	$	—	$	—
Common/collective trusts:
Fixed income	55,550		—		55,550		—
U.S. large cap	24,816		—		24,816		—
U.S. small cap	6,641		—		6,641		—
International equity	25,556		—		25,556		—
Governmental bonds	6,245		—		6,245		—
Corporate bonds	3,955		—		3,955		—
Investment funds	—		—		—		—
Limited partnership	38		—		—		38
Total investments	$	126,752	$	3,951	$	122,763	$	38


Investments	As of November 30, 2022		As of Quoted Prices in Active Markets for Identical Assets (Level 1)		As of Significant Other Observable Inputs (Level 2)		As of Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	4,034	$	4,034	$	—	$	—
Common/collective trusts:
Fixed income	47,439		—		47,439		—
U.S. large cap	31,352		—		31,352		—
U.S. small cap	8,567		—		8,567		—
International equity	36,773		—		36,773		—
Governmental bonds	6,073		—		6,073		—
Corporate bonds	2,998		—		2,998		—
Investment funds	—		—		—		—
Limited partnership	115		—		—		115
Total investments	$	137,351	$	4,034	$	133,202	$	115

The Company’s cash balance plan holds level 2 investments in common/collective trust funds that are public investment vehicles valued using a net asset value (“NAV”) provided by the manager of each fund. The NAV is based on the underlying net assets owned by the fund, divided by the number of shares outstanding. The NAV’s unit price is quoted on a private market that may not be active. However, the NAV is based on the fair value of the underlying securities within the fund, which are traded on an active market, and valued at the closing price reported on the active market on which those individual securities are traded. The significant investment strategies of the funds are as described in the financial statements provided by each fund. There are no restrictions on redemptions from these funds. Level 3 investments are equity based funds that primarily invest in domestic early stage capital funds.

Benefit Payments

The following table details expected benefit payments for the cash balance plan and other defined benefit plans:


Fiscal Years Ending November 30,
2024	$	31,972
2025	27,109
2026	24,723
2027	23,079
2028	21,847
Thereafter	95,187
Total	$	223,917

The Company expects to make approximately $4,522 in contributions during fiscal year 2024.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
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-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

ACQUISITIONS AND DIVESTITURES (Details) - PK Intangible Assets - USD ($)
$ in Thousands

12 Months Ended

Nov. 30, 2023

Dec. 27, 2021

Business Acquisition [Line Items]

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The preliminary amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Amortization Method

Customer relationships

1,882,000

15 years

Accelerated

Trade name

102,000

3 years

Straight-line

Total

1,984,000

The amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Acceleration Method

Customer relationships

398,600

15 years

Accelerated

Technology

63,500

5 years

Straight-line

Trade name

5,000

3 years

Straight-line

Non-compete agreements

2,200

3 years

Straight-line

Total

469,300

The amounts allocated to intangible assets are as follows:

Gross Carrying Amount

Weighted-Average Useful Life

Acceleration Method

Customer relationships

31,370

15 years

Accelerated

Technology

5,640

5 years

Straight-line

Trade name

3,190

3 years

Straight-line

Total

40,200

Technology

Business Acquisition [Line Items]

Intangible assets useful life

5 years

Non-compete Covenants

Business Acquisition [Line Items]

Intangible assets useful life

3 years

Business Acquisition [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

$ 469,300

PK | Customer relationships

Business Acquisition [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

$ 398,600

Intangible assets useful life

15 years

PK | Technology

Business Acquisition [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

$ 63,500

Intangible assets useful life

5 years

PK | Trade names

Business Acquisition [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

$ 5,000

Intangible assets useful life

3 years

PK | Non-compete Covenants

Business Acquisition [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

$ 2,200

Intangible assets useful life

3 years

REVENUE (Tables)

12 Months Ended

Nov. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

In the following tables, the Company’s revenue is disaggregated by primary industry verticals and geographic locations:


	Fiscal Years Ended November 30,
	2023		2022		2021
Industry vertical:
Technology and consumer electronics	$	2,205,834	$	1,980,666	$	1,759,203
Retail, travel and ecommerce	1,448,666		1,184,086		985,550
Communications and media	1,117,694		1,076,289		1,005,283
Banking, financial services and insurance	1,091,853		967,810		862,033
Healthcare	696,266		608,169		489,855
Other	554,393		507,453		485,091
Total	$	7,114,706	$	6,324,473	$	5,587,015


	Fiscal Years Ended November 30,
	2023		2022		2021
Revenue by geography:
Philippines	$	1,585,878	$	1,476,706	$	1,335,326
United States	1,304,797		1,388,514		884,777
India	898,250		811,492		723,495
Canada	317,410		326,162		338,255
Germany	232,729		232,282		233,001
Great Britain	205,437		211,219		307,109
Others	2,570,205		1,878,098		1,765,052
Total	$	7,114,706	$	6,324,473	$	5,587,015

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2023	Dec. 31, 2022	Nov. 30, 2022	Dec. 31, 2021	Nov. 30, 2021	Dec. 01, 2020	Nov. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)		520,000		523,000			4,000,000
Options outstanding (in shares)	294,000		395,000		441,000	684,000
Weighted average life	4 years 10 months 6 days
Aggregate pre-tax intrinsic value	$ 12,326
Options vested and exercisable (in shares)	262,000
Weighted average life	4 years 8 months 4 days
Weighted-average exercise price (in dollars per share)	$ 51.87
Aggregate pre-tax intrinsic value	$ 11,431
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance (in shares)							1,000,000
Term period	10 years
Vesting period	5 years
Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized share-based compensation expense	$ 211,603
Estimated weighted-average amortization period	2 years 7 months 24 days
Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized share-based compensation expense	$ 538
Estimated weighted-average amortization period	1 year 6 months 14 days

BALANCE SHEET COMPONENTS - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for doubtful accounts	$ (12,533)	$ (4,797)	$ (5,421)	$ (8,963)
Accounts receivable, net	1,888,890	1,390,474
Billed accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	1,082,469	782,049
Unbilled accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 818,954	$ 613,222

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Nov. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes the valuation of the Company’s investments and financial instruments that are measured at fair value on a recurring basis:


	As of November 30, 2023									As of November 30, 2022
			Fair value measurement category									Fair value measurement category
	Total			Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3
Assets measured at fair value:
Cash equivalents	$	52,847		$	52,847	$	—	$	—	$	89,932		$	89,932	$	—	$	—
Foreign government bond	1,853			1,853		—		—		1,529			1,529		—		—
Forward foreign currency exchange contracts	30,408			—		30,408		—		29,228			—		29,228		—
Liabilities measured at fair value:
Forward foreign currency exchange contracts	23,580			—		23,580		—		47,869			—		47,869		—
Cross-currency interest rate swaps	17,219			—		17,219		—		—			—		—		—
Acquisition contingent consideration	48,600			—		48,600		—		—			—		—		—
Liabilities measured at other than fair value:
Long term debt (senior notes)
Fair value	2,146,554			—		2,146,554		—		—			—		—		—
Carrying amount	2,131,870			—		—		—		—			—		—		—

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2020
Investments, Owned, Federal Income Tax Note [Line Items]
Current tax provision (benefit)	$ 216,097	$ 200,187	$ 175,848
Deferred income taxes	(121,711)	(30,824)	(25,729)
Undistributed earnings of non-U.S. subsidiaries	2,078,260
Credit carry forwards	6,384
Estimated tax benefits from tax holidays	7,961	10,315	9,160
Unrecognized tax benefits	79,322	70,963	$ 47,447	$ 47,913
Unrecognized tax benefits that would affect income tax expense if recognized	52,779	40,793
Income taxes payable related to accrued interest and penalties	8,617	7,538
Other long-term liabilities
Investments, Owned, Federal Income Tax Note [Line Items]
Unrecognized tax benefits	87,939	$ 78,501
Minimum
Investments, Owned, Federal Income Tax Note [Line Items]
Unrecognized tax benefits, possible decrease amount	34,854
Maximum
Investments, Owned, Federal Income Tax Note [Line Items]
Unrecognized tax benefits, possible decrease amount	37,817
Domestic Tax Authority
Investments, Owned, Federal Income Tax Note [Line Items]
Operating loss carry forwards	310,536
State and Local Jurisdiction
Investments, Owned, Federal Income Tax Note [Line Items]
Operating loss carry forwards	40,792
Foreign Tax Authority
Investments, Owned, Federal Income Tax Note [Line Items]
Operating loss carry forwards	$ 179,929

BALANCE SHEET COMPONENTS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 2,695,904	$ 2,620,255
Other comprehensive income (loss) before reclassification	110,229	(272,176)
Reclassification of (gains) losses from other comprehensive income (loss)	13,793	(26,953)
Ending Balance	4,143,294	2,695,904
Accumulated other comprehensive income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(315,749)	(70,526)
Ending Balance	(191,727)	(315,749)
Unrecognized gains (losses) on defined benefit plan, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(8,471)	(22,745)
Other comprehensive income (loss) before reclassification	(2,800)	14,274
Reclassification of (gains) losses from other comprehensive income (loss)	0	0
Ending Balance	(11,271)	(8,471)
Unrealized gains (losses) on hedges, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(19,914)	(1,403)
Other comprehensive income (loss) before reclassification	10,610	(45,464)
Reclassification of (gains) losses from other comprehensive income (loss)	13,793	(26,953)
Ending Balance	4,489	(19,914)
Foreign currency translation adjustment and other, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(287,364)	(46,378)
Other comprehensive income (loss) before reclassification	102,419	(240,986)
Reclassification of (gains) losses from other comprehensive income (loss)	0	0
Ending Balance	$ (184,945)	$ (287,364)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

DERIVATIVE INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 25, 2023	Nov. 30, 2023	Aug. 02, 2023	Nov. 30, 2022
Derivative [Line Items]
Existing net losses expected to be reclassified		$ 9,209
6.650% Senior Notes due 2026
Derivative [Line Items]
Converted debt	$ 250,000
Interest rate	6.65%	6.65%	6.65%
Weighted average interest rate	5.12%
6.600% Senior Notes due 2028
Derivative [Line Items]
Converted debt	$ 250
Interest rate	6.66%	6.60%	6.60%
Weighted average interest rate	5.18%
Cross Currency Interest Rate Contract \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional value	$ 500,000	$ 471,604		$ 0
Cross Currency Interest Rate Contract \| Designated as Hedging Instrument
Derivative [Line Items]
Notional value	$ 500

ACQUISITIONS AND DIVESTITURES (Details) - Results of Operations - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Revenue	$ 7,114,706	$ 6,324,473	$ 5,587,015
Total	408,228	$ 605,003	$ 555,696
Webhelp
Business Acquisition [Line Items]
Revenue	574,351
Total	$ 1,302

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Nov. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Below is a progression of goodwill for fiscal years 2023 and 2022:


	Fiscal Years Ended November 30,
	2023		2022
Balance, beginning of year	$	2,904,402	$	1,813,502
Acquisitions	2,085,344		1,165,072
Acquisition measurement period adjustments	(10,592)		—
Foreign currency translation	99,514		(74,172)
Balance, end of year	$	5,078,668	$	2,904,402

Schedule of Intangible Assets


Customer relationships			10 - 15 years
Technology			5 years
Trade names			3 - 5 years
Non-compete agreements			3 years

As of November 30, 2023 and 2022, the Company’s other intangible assets consisted of the following:


	As of November 30, 2023						As of November 30, 2022
	Gross amounts		Accumulated amortization		Net amounts		Gross amounts		Accumulated amortization		Net amounts
Customer relationships	$	3,670,246	$	(1,011,201)	$	2,659,045	$	1,731,610	$	(811,727)	$	919,883
Technology	79,739		(36,174)		43,565		79,728		(21,820)		57,908
Trade names	118,823		(17,255)		101,568		14,552		(8,291)		6,261
Non-compete agreements	2,200		(1,413)		787		2,200		(680)		1,520
	$	3,871,008	$	(1,066,043)	$	2,804,965	$	1,828,090	$	(842,518)	$	985,572

Schedule of Intangible Assets, Future Amortization Expense


Fiscal Years Ending November 30,	Amortization Expense
2024	$	462,969
2025	430,917
2026	383,247
2027	289,852
2028	245,713
Thereafter	992,267
Total	$	2,804,965

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment Useful Life (Details)	Nov. 30, 2023
Equipment and furniture \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Equipment and furniture \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Software \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	7 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	2 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	15 years
Buildings, building improvements and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Buildings, building improvements and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	39 years