Concentrix (CNXC) 10-Q7 Oct 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Aug. 31, 2022	Sep. 30, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2022
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		51,669,410
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001803599
Current Fiscal Year End Date	--11-30

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Current assets:
Cash and cash equivalents	$ 176,082	$ 182,038
Accounts receivable, net	1,355,065	1,207,953
Other current assets	186,256	153,074
Total current assets	1,717,403	1,543,065
Property and equipment, net	390,343	407,144
Goodwill	2,971,820	1,813,502
Intangible assets, net	1,025,776	655,528
Deferred tax assets	59,685	48,413
Other assets	584,847	578,715
Total assets	6,749,874	5,046,367
Current liabilities:
Accounts payable	114,128	129,359
Current portion of long-term debt	6,250	0
Accrued compensation and benefits	465,137	453,434
Other accrued liabilities	397,226	351,642
Income taxes payable	45,472	33,779
Total current liabilities	1,028,213	968,214
Long-term debt, net	2,401,099	802,017
Other long-term liabilities	515,237	546,410
Deferred tax liabilities	158,698	109,471
Total liabilities	4,103,247	2,426,112
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 August 31, 2022 and November 30, 2021, respectively	0	0
Common stock, $0.0001 par value, 250,000 shares authorized; 52,058 and 51,927 shares issued as of May 31, 2022 and November 30, 2021, respectively, and 51,342 and 51,594 shares outstanding as of May 31, 2022 and November 30, 2021, respectively	5	5
Additional paid-in capital	2,415,868	2,355,767
Treasury stock, 716 and 333 shares as of May 31, 2022 and November 30, 2021, respectively	(167,420)	(57,486)
Retained earnings	683,466	392,495
Accumulated other comprehensive loss	(285,292)	(70,526)
Total stockholders’ equity	2,646,627	2,620,255
Total liabilities and stockholders’ equity	$ 6,749,874	$ 5,046,367

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 31, 2022	Nov. 30, 2021
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 issued (in shares)	0	0
Preferred stock, shares outstanding (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)	52,093,000	51,927,000
Common stock, shares outstanding (in shares)	51,016,000	51,594,000
Treasury stock (in shares)	1,077,000	333,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Income Statement [Abstract]
Revenue	$ 1,579,602	$ 1,397,251	$ 4,683,755	$ 4,120,407
Cost of revenue	1,012,754	915,910	3,019,857	2,670,287
Gross profit	566,848	481,341	1,663,898	1,450,120
Selling, general and administrative expenses	409,303	329,962	1,201,696	1,035,628
Operating income	157,545	151,379	462,202	414,492
Interest expense and finance charges, net	20,272	4,868	42,015	19,316
Other expense (income), net	(12,086)	(5,858)	(22,247)	(5,601)
Income before income taxes	149,359	152,369	442,434	400,777
Provision for income taxes	42,235	42,615	111,738	119,308
Net income before non-controlling interest	107,124	109,754	330,696	281,469
Less: Net income attributable to non-controlling interest	434	0	591	0
Net income attributable to Concentrix Corporation	$ 106,690	$ 109,754	$ 330,105	$ 281,469
Earnings per common share:
Basic (in dollars per share)	$ 2.05	$ 2.10	$ 6.32	$ 5.41
Diluted (in dollars per share)	$ 2.04	$ 2.08	$ 6.28	$ 5.35
Weighted-average common shares outstanding
Basic (in shares)	51,193	51,432	51,461	51,288
Diluted (in shares)	51,549	52,061	51,834	51,914

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 107,124	$ 109,754	$ 330,696	$ 281,469
Other comprehensive income (loss):
Unrealized gains (losses) of defined benefit plans, net of taxes of $(51) for the three and nine months ended August 31, 2022, respectively, and $0 and $98 for the three and nine months ended August 31, 2021, respectively	951	2	1,717	(446)
Unrealized gains (losses) on cash flow hedges during the period, net of taxes of $10,392 and $15,779 for the three and nine months ended August 31, 2022, respectively, and $3,840 and $47 for the three and nine months ended August 31, 2021, respectively	(30,299)	(11,219)	(46,003)	(620)
Reclassification of net (gains) losses on cash flow hedges to net income, net of taxes of $(3,344) and $(4,190) for the three and nine months ended August 31, 2022, respectively, and $1,400 and $6,940 for the three and nine months ended August 31, 2021, respectively	9,752	(4,091)	12,217	(20,617)
Total change in unrealized gains (losses) on cash flow hedges, net of taxes	(20,547)	(15,310)	(33,786)	(21,237)
Foreign currency translation, net of taxes of $0 for the three and nine months ended August 31, 2022 and 2021, respectively	(113,863)	(56,105)	(182,697)	(14,366)
Other comprehensive income (loss)	(133,459)	(71,413)	(214,766)	(36,049)
Comprehensive income (loss)	(26,335)	38,341	115,930	245,420
Less: Comprehensive income (loss) attributable to non-controlling interest	434	0	591	0
Comprehensive income (loss) attributable to Concentrix Corporation	$ (26,769)	$ 38,341	$ 115,339	$ 245,420

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Statement of Comprehensive Income [Abstract]
Change in unrealized losses of defined benefit plans, tax		$ 0	$ (51)	$ 98
Unrealized gains (losses) on cash flow hedges, tax	$ (10,392)	(3,840)	15,779	47
Reclassification of net loss on cash flow hedges to net income, tax	(3,344)	1,400	(4,190)	6,940
Foreign currency translation gain (loss), tax	$ 0	$ 0	$ 0	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive loss	Former parent company investment	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		0		0
Beginning Balance at Nov. 30, 2020	$ 2,302,085	$ 0	$ 0	$ 0	$ 0	$ (3,814)	$ 2,305,899
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(36,049)					(36,049)
Less: Net income attributable to non-controlling interest	0
Share-based compensation activity (in shares)		313,000
Share-based compensation activity	32,214		32,214
Repurchase of common stock for tax withholdings on equity awards (in shares)				93,000
Repurchase of common stock for tax withholdings on equity awards	(13,964)			$ (13,964)
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)
Net income attributable to Concentrix Corporation	281,469				281,469
Ending Balance at Aug. 31, 2021	2,565,755	$ 5	2,338,108	$ (13,964)	281,469	(39,863)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		51,296,000		4,000
Beginning Balance at May. 31, 2021	2,529,768	$ 5	2,327,025	$ (527)	171,715	31,550	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(71,413)					(71,413)
Less: Net income attributable to non-controlling interest	0
Share-based compensation activity (in shares)		152,000
Share-based compensation activity	11,083		11,083
Repurchase of common stock for tax withholdings on equity awards (in shares)				89,000
Repurchase of common stock for tax withholdings on equity awards	(13,437)			$ (13,437)
Net income attributable to Concentrix Corporation	109,754				109,754
Ending Balance at Aug. 31, 2021	$ 2,565,755	$ 5	2,338,108	$ (13,964)	281,469	(39,863)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		51,448,000		93,000
Common stock, shares outstanding (in shares)	51,594,000	51,594,000		333,000
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests	$ 0
Beginning Balance at Nov. 30, 2021	2,620,255	$ 5	2,355,767	$ (57,486)	392,495	(70,526)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(214,766)					(214,766)
Less: Net income attributable to non-controlling interest	591
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	91		91					$ (2,591)
Equity awards issued as acquisition purchase consideration	15,725		15,725
Acquisition of non-controlling interest in subsidiary	2,000
Share-based compensation activity (in shares)		(578,000)
Share-based compensation activity	44,285		44,285
Repurchase of common stock for tax withholdings on equity awards (in shares)				18,000
Repurchase of common stock for tax withholdings on equity awards	(3,098)			$ (3,098)
Repurchase of common stock (in shares)				726,000
Repurchase of common stock for tax withholdings on equity awards	(106,836)			$ (106,836)
Dividends	(39,134)				(39,134)
Net income attributable to Concentrix Corporation	330,105				330,105
Ending Balance at Aug. 31, 2022	2,646,627	$ 5	2,415,868	$ (167,420)	683,466	(285,292)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		51,342,000		716,000
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests	2,157
Beginning Balance at May. 31, 2022	2,723,945	$ 5	2,404,281	$ (118,248)	589,740	(151,833)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(133,459)					(133,459)
Less: Net income attributable to non-controlling interest	434
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	91		91					$ (2,591)
Share-based compensation activity (in shares)		(326,000)
Share-based compensation activity	11,496		11,496
Repurchase of common stock for tax withholdings on equity awards (in shares)				2,000
Repurchase of common stock for tax withholdings on equity awards	(186)			$ (186)
Repurchase of common stock (in shares)				359,000
Repurchase of common stock for tax withholdings on equity awards	(48,986)			$ (48,986)
Dividends	(12,964)				(12,964)
Net income attributable to Concentrix Corporation	106,690				106,690
Ending Balance at Aug. 31, 2022	$ 2,646,627	$ 5	$ 2,415,868	$ (167,420)	$ 683,466	$ (285,292)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)	51,016,000	51,016,000		1,077,000
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
Cash flows from operating activities:
Net income before non-controlling interest	$ 330,696	$ 281,469
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	110,108	105,371
Amortization	121,025	103,194
Non-cash share-based compensation expense	37,404	25,344
Provision for doubtful accounts	3,389	(763)
Deferred income taxes	(4,374)	(21,270)
Unrealized foreign exchange loss	914	(446)
Other	325	66
Changes in operating assets and liabilities:
Accounts receivable, net	(23,546)	(58,584)
Payable to former parent	0	(22,825)
Accounts payable	(23,463)	(42,290)
Other operating assets and liabilities	(187,437)	(23,944)
Net cash provided by operating activities	365,041	332,125
Cash flows from investing activities:
Purchases of property and equipment	(97,276)	(112,869)
Acquisitions of business, net of cash acquired	(1,705,447)	(3,279)
Other investments	(1,000)	0
Net cash used in investing activities	(1,803,723)	(42,440)
Cash flows from financing activities:
Proceeds from the Credit Facility - Term Loan	2,100,000	0
Proceeds from the Securitization Facility	1,451,000	1,042,000
Repayments of the Securitization Facility	(1,116,000)	(1,123,000)
Cash paid for debt issuance costs	(9,331)	0
Payments for Repurchase of Redeemable Noncontrolling Interest	(2,500)	0
Proceeds from exercise of stock options	6,881	6,870
Repurchase of common stock for tax withholdings on equity awards	(3,098)	(13,964)
Repurchase of common stock	(106,836)	0
Dividends paid	(39,134)	0
Net cash provided by (used in) financing activities	1,455,982	(288,094)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(21,809)	(2,348)
Net decrease in cash, cash equivalents and restricted cash	(4,509)	(757)
Cash, cash equivalents and restricted cash at beginning of year	183,010	156,351
Cash, cash equivalents and restricted cash at end of period	178,501	155,594
Supplemental disclosure of non-cash investing activities:
Accrued costs for property and equipment purchases	6,348	1,846
Gain (Loss) on Disposition of Business	0	(13,197)
Proceeds from divestitures, net of cash sold	0	73,708
Term Loan
Cash flows from financing activities:
Repayments of the Credit Facility - Prior Term Loan	(700,000)	(200,000)
Repayments of the Credit Facility - Prior Term Loan	700,000	200,000
New Term Loan
Cash flows from financing activities:
Repayments of the Credit Facility - Prior Term Loan	(125,000)	0
Repayments of the Credit Facility - Prior Term Loan	$ 125,000	$ 0

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	9 Months Ended
BACKGROUND AND BASIS OF PRESENTATION	Aug. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	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, communications and media, retail, travel and e-commerce, banking, financial services and insurance, and healthcare. On December 1, 2020, the separation of the CX business (the “separation”) from SYNNEX Corporation, now known as TD SYNNEX Corporation (“TD SYNNEX” or the “former parent”), was completed through a tax-free distribution of all of the issued and outstanding shares of the Company’s common stock to TD SYNNEX stockholders (the “distribution” and, together with the separation, the “spin-off”). TD SYNNEX stockholders received one share of the Company’s common stock for each share of TD SYNNEX common stock held as of the close of business on November 17, 2020. 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 The accompanying interim unaudited consolidated financial statements have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The amounts as of November 30, 2021 have been derived from the Company’s annual audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. These interim consolidated financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. All intercompany balances and transactions have been eliminated in consolidation. Risks and uncertainties related to the COVID-19 pandemic The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains and labor force participation, and created significant volatility and disruption of financial markets. The Company successfully transitioned a significant portion of its workforce to a remote working environment throughout the second quarter of 2020 and implemented a number of safety and social distancing measures in the Company’s sites to protect the health and safety of the team. During the three and nine months ended August 31, 2022, almost all of the Company’s workforce was productive, but the Company experienced the continued effects of the COVID-19 pandemic, as variants caused new waves of COVID-19 cases around the globe. The extent of the continued impact of the COVID-19 pandemic on the Company’s operational and financial performance, including its ability to execute business strategies and initiatives in the expected time frame, will depend on future developments, including the duration, spread and severity of the pandemic, the evolution of the

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Aug. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: For a discussion of the Company’s significant accounting policies, refer to the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. Accounting pronouncements adopted during the nine months ended August 31, 2022 are discussed below. Concentration of credit risk For the three and nine months ended August 31, 2022, no client accounted for more than 10% of the Company’s consolidated revenue. For the three and nine months ended August 31, 2021, one client accounted for 11.9% and 11.7%, respectively, of the Company’s consolidated revenue. As of August 31, 2022 and November 30, 2021, one client comprised 10.8% and 15.3%, respectively, of the Company’s total accounts receivable balance. Recently adopted accounting pronouncements

ACQUISITION

ACQUISITION	9 Months Ended
ACQUISITION	Aug. 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITION	ACQUISITIONS AND DIVESTITURES: 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 acquired, was $1,581.0 million, which was funded by proceeds from the Company’s new term loan (the “Term Loan”) under its amended senior secured credit facility (the “Credit Facility”) and additional borrowings under its accounts receivable securitization facility (the “Securitization Facility”). See Note 8 — Borrowings for a further discussion of the Term Loan, the Credit Facility and the Securitization Facility. The preliminary 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 acquired (6) 29,653 Total purchase price consideration $ 1,580,977 (1) Represents the cash consideration paid for the outstanding shares of PK’s 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 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 balance acquired at acquisition. Preliminary purchase price allocation The acquisition was accounted for as a business combination in accordance with Accounting Standards Codification 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 expected to be deductible for income tax purposes. The following table summarizes the preliminary estimates of 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 $ 29,653 Accounts receivable 86,955 Property and equipment 11,198 Operating lease right-of-use assets 12,288 Identifiable intangible assets 469,300 Goodwill 1,125,267 Other assets 11,954 Total assets acquired $ 1,746,615 Liabilities assumed and non-controlling interest: Accounts payable and accrued liabilities 67,594 Operating lease liabilities 12,288 Deferred tax liabilities 54,103 Non-controlling interest 2,000 Total liabilities assumed and non-controlling interest 135,985 Total consideration transferred $ 1,610,630 As of August 31, 2022, 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 Company made immaterial measurement period adjustments during the three months ended August 31, 2022. The preliminary purchase price allocation includes $469,300 of acquired identifiable intangible assets, all of which have finite lives. The preliminary 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 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 preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 398,600 15 years Technology 63,500 5 years Trade name 5,000 3 years Non-compete agreements 2,200 3 years Total $ 469,300 Supplemental Pro Forma Information 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 PK acquisition had been completed on the date indicated, 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 we believe 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 PK acquisition had occurred on December 1, 2020 to give effect to certain events that the Company believes to be directly attributable to the PK acquisition. These pro forma adjustments primarily include: • An increase in amortization expense that would have been recognized due to acquired identifiable intangible assets. • An adjustment to interest expense to reflect the additional borrowings of Concentrix on the amended credit facility and the repayment of PK’s historical debt in conjunction with the acquisition. • The related income tax effects of the adjustments noted above. The supplemental pro forma financial information for the periods presented is as follows: Three Months Ended Nine Months Ended August 31, August 31, 2022 2021 2022 2021 Revenue $ 1,579,602 $ 1,510,681 $ 4,716,716 $ 4,439,073 Net income 107,912 115,236 327,701 281,089 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 B2B digital sales and customer success solutions. The acquisition of ServiceSource is expected to complement Concentrix’ offerings in this area. Purchase price consideration The total purchase price consideration, net of cash acquired, was $142.8 million, which was primarily funded by cash on the Company’s balance sheet, as well as borrowings under the Company’s Securitization Facility. The preliminary 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 acquired (4) 24,355 Total purchase price consideration $ 142,804 (1) Represents the cash consideration paid for the outstanding shares of ServiceSource’s 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 balance acquired at acquisition. Preliminary 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 expected to be deductible for income tax purposes. The following table summarizes the preliminary estimates of 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 6,951 Operating lease right-of-use assets 29,487 Identifiable intangible assets 40,200 Goodwill 69,387 Other assets 20,120 Total assets acquired $ 230,597 Liabilities assumed: Accounts payable and accrued liabilities 33,951 Operating lease liabilities 29,487 Total liabilities assumed 63,438 Total consideration transferred $ 167,159 As of August 31, 2022, 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 $40,200 of acquired identifiable intangible assets, all of which have finite lives. The preliminary 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. The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 31,370 15 years Technology 5,640 5 years Trade name 3,190 3 years Total $ 40,200 Acquisitions impact on results of operations The results of the acquired operations have been included in the consolidated financial statements since the acquisition dates. The following table provides the results of acquired operations included in the consolidated statement of operations from the acquisition dates through August 31, 2022: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2022 Revenue $ 142,525 $ 349,684 Income before income taxes (1,413) 1,567 In connection with the acquisitions, the Company incurred $12,565 and $15,213 of acquisition-related and integration expenses for the three and nine months ended August 31, 2022, respectively. These expenses primarily include legal and professional services, cash-settled awards, severance and retention payments 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.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
SHARE-BASED COMPENSATION	Aug. 31, 2022
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, 523 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. In January 2022, the Company granted 137 restricted stock awards and restricted stock units and 129 performance-based restricted stock units under the Concentrix Stock Incentive Plan, which included annual awards to the Company’s senior executive team and retention and new hire awards to staff who joined the Company as part of the PK acquisition. The restricted stock awards and restricted stock units awards had a weighted average grant date fair value of $181.09 per share and vest over a service period of four years. The performance-based restricted stock units will vest, if at all, upon the achievement of certain annual financial targets during the three-year period ending November 30, 2024. The performance-based restricted stock units had a grant date weighted average fair value of $178.58 per share. The Company recorded share-based compensation expense in the consolidated statements of operations for the three and nine months ended August 31, 2022 and 2021 as follows: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Total share-based compensation $ 9,862 $ 9,457 $ 37,678 $ 25,858 Tax benefit recorded in the provision for income taxes (2,505) (2,364) (9,569) (6,464) Effect on net income $ 7,357 $ 7,093 $ 28,109 $ 19,394

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS	9 Months Ended
BALANCE SHEET COMPONENTS	Aug. 31, 2022
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 and 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 August 31, 2022 November 30, 2021 Cash and cash equivalents $ 176,082 $ 182,038 Restricted cash included in other current assets 2,419 972 Cash, cash equivalents and restricted cash $ 178,501 $ 183,010 Restricted cash balances relate primarily to restrictions placed on cash deposits by banks as collateral for the issuance of bank guarantees and letters of credit for leases and the terms of government grants. Accounts receivable, net: Accounts receivable, net is comprised of the following as of August 31, 2022 and November 30, 2021: As of August 31, 2022 November 30, 2021 Billed accounts receivable $ 784,473 $ 714,032 Unbilled accounts receivable 575,728 499,342 Less: Allowance for doubtful accounts (5,136) (5,421) Accounts receivable, net $ 1,355,065 $ 1,207,953 Allowance for doubtful trade receivables: Presented below is a progression of the allowance for doubtful trade receivables: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Balance at beginning of period $ 6,994 $ 5,513 $ 5,421 $ 8,963 Net additions (reductions) (1,033) 1,369 3,389 (763) Write-offs and reclassifications (825) (931) (3,674) (2,249) Balance at end of period $ 5,136 $ 5,951 $ 5,136 $ 5,951 Property and equipment, net: The following tables summarize the carrying amounts and related accumulated depreciation for property and equipment as of August 31, 2022 and November 30, 2021: As of August 31, 2022 November 30, 2021 Land $ 27,297 $ 27,677 Equipment, computers and software 513,683 488,270 Furniture and fixtures 88,993 90,442 Buildings, building improvements and leasehold improvements 355,897 364,166 Construction-in-progress 15,810 10,741 Total property and equipment, gross $ 1,001,680 $ 981,296 Less: Accumulated depreciation (611,337) (574,152) Property and equipment, net $ 390,343 $ 407,144 Shown below are the countries where 10% or more of the Company’s property and equipment, net are located as of August 31, 2022 and November 30, 2021: As of August 31, 2022 November 30, 2021 Property and equipment, net: United States $ 118,455 $ 101,333 Philippines 72,152 87,548 India 41,689 46,167 Others 158,047 172,096 Total $ 390,343 $ 407,144 Goodwill: The following table summarizes the changes in the Company’s goodwill for the nine months ended August 31, 2022: Balance as of November 30, 2021 $ 1,813,502 Acquisitions 1,195,039 Foreign exchange translation (36,721) Balance as of August 31, 2022 $ 2,971,820 Intangible assets, net: The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of August 31, 2022 and November 30, 2021: As of August 31, 2022 As of November 30, 2021 Gross amounts Accumulated amortization Net amounts Gross amounts Accumulated amortization Net amounts Customer relationships $ 1,728,680 $ (773,084) $ 955,596 $ 1,347,961 $ (694,701) $ 653,260 Technology 79,746 (18,213) 61,533 10,835 (8,900) 1,935 Trade names 14,653 (7,709) 6,944 6,724 (6,391) 333 Non-compete agreements 2,200 (497) 1,703 — — — $ 1,825,279 $ (799,503) $ 1,025,776 $ 1,365,520 $ (709,992) $ 655,528 Estimated future amortization expense of the Company’s intangible assets is as follows: Fiscal years ending November 30, 2022 (remaining three months) $ 41,826 2023 156,440 2024 145,594 2025 133,563 2026 117,080 Thereafter 431,273 Total $ 1,025,776 Accumulated other comprehensive income (loss): The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows: Three Months Ended August 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, May 31, 2021 $ (39,032) $ 23,312 $ 47,270 $ 31,550 Other comprehensive income (loss) before reclassification 2 (11,219) (56,105) (67,322) Reclassification of gains from other comprehensive income (loss) — (4,091) — (4,091) Balances at August 31, 2021 $ (39,030) $ 8,002 $ (8,835) $ (39,863) Balance, May 31, 2022 $ (21,979) $ (14,642) $ (115,212) $ (151,833) Other comprehensive income (loss) before reclassification 951 (30,299) (113,863) (143,211) Reclassification of gains from other comprehensive income (loss) — 9,752 — 9,752 Balances at August 31, 2022 $ (21,028) $ (35,189) $ (229,075) $ (285,292) Nine Months Ended August 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, November 30, 2020 $ (38,584) $ 29,239 $ 5,531 $ (3,814) Other comprehensive income (loss) before reclassification (446) (620) (14,366) (15,432) Reclassification of gains from other comprehensive income (loss) — (20,617) — (20,617) Balances at August 31, 2021 $ (39,030) $ 8,002 $ (8,835) $ (39,863) Balance, November 30, 2021 $ (22,745) $ (1,403) $ (46,378) $ (70,526) Other comprehensive income (loss) before reclassification 1,717 $ (46,003) (182,697) (226,983) Reclassification of gains from other comprehensive income (loss) — 12,217 — 12,217 Balances at August 31, 2022 $ (21,028) $ (35,189) $ (229,075) $ (285,292)

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
DERIVATIVE INSTRUMENTS	Aug. 31, 2022
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 mitigate the risk of fluctuations in foreign currency exchange rates on gross margins, 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 August 2024. 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 currency of the Company’s legal entities that own the asset or liability. 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. Fair Values of Derivative Instruments in the Consolidated Balance Sheets The fair values of the Company’s derivative instruments are disclosed in Note 7 and summarized in the table below: Value as of Balance Sheet Line Item August 31, 2022 November 30, 2021 Derivative instruments not designated as hedging instruments: Foreign exchange forward contracts (notional value) $ 1,375,458 $ 1,415,447 Other current assets 11,744 10,058 Other accrued liabilities 31,313 12,542 Derivative instruments designated as cash flow hedges: Foreign exchange forward contracts (notional value) $ 946,939 $ 918,097 Other current assets and other assets 509 7,851 Other accrued liabilities and other long-term liabilities 47,768 9,736 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 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: Three Months Ended Nine Months Ended Locations of gain (loss) in statement of operations August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Derivative instruments designated as cash flow hedges (Loss) / Gain recognized in OCI: Foreign exchange forward contracts $ (40,691) $ (15,059) $ (61,782) $ (666) (Losses) / Gains reclassified from AOCI into income: Foreign exchange forward contracts (Loss) / Gain reclassified from AOCI into income Cost of revenue for services $ (9,909) $ 3,839 $ (12,920) $ 19,801 (Loss) / Gain reclassified from AOCI into income Selling, general and administrative expenses (3,187) 1,652 (3,487) 7,756 Total $ (13,096) $ 5,491 $ (16,407) $ 27,557 Derivative instruments not designated as hedging instruments: (Loss) / Gain recognized from foreign exchange forward contracts, net (1) Other expense (income), net $ (39,367) $ (13,388) $ (56,527) $ 4,653 (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 losses in AOCI that are expected to be reclassified into earnings in the normal course of business within the next twelve months are $39,657. 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

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Aug. 31, 2022
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 that 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 August 31, 2022 As of November 30, 2021 Fair value measurement category Fair value measurement category Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 93,485 $ 93,485 $ — $ — $ 77,332 $ 77,332 $ — $ — Foreign government bond 1,539 1,539 — — 1,446 1,446 — — Forward foreign currency exchange contracts 12,253 — 12,253 — 17,909 — 17,909 — Liabilities: Forward foreign currency exchange contracts $ 79,081 $ — $ 79,081 $ — $ 22,278 $ — $ 22,278 $ — 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 quoted by banks or foreign currency dealers. 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 effect of nonperformance risk on the fair value of derivative instruments was not material as of August 31, 2022 and November 30, 2021. 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 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.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Aug. 31, 2022
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. The Company’s restricted stock awards are considered participating securities because they are legally issued at the grant date and holders have a non-forfeitable right to receive dividends. Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Basic earnings per common share: Net income $ 106,690 $ 109,754 $ 330,105 $ 281,469 Less: net income allocated to participating securities (1) (1,582) (1,669) (4,850) (3,992) Net income attributable to common stockholders $ 105,108 $ 108,085 $ 325,255 $ 277,477 Weighted-average number of common shares - basic 51,193 51,432 51,461 51,288 Basic earnings per common share $ 2.05 $ 2.10 $ 6.32 $ 5.41 Diluted earnings per common share: Net income $ 106,690 $ 109,754 $ 330,105 $ 281,469 Less: net income allocated to participating securities (1) (1,571) (1,649) (4,816) (3,945) Net income attributable to common stockholders $ 105,119 $ 108,105 $ 325,289 $ 277,524 Weighted-average number of common shares - basic 51,193 51,432 51,461 51,288 Effect of dilutive securities: Stock options and restricted stock units 356 629 373 626 Weighted-average number of common shares - diluted 51,549 52,061 51,834 51,914 Diluted earnings per common share $ 2.04 $ 2.08 $ 6.28 $ 5.35 (1) Restricted stock awards granted to employees by the Company are considered participating securities.

REVENUE

REVENUE	9 Months Ended
REVENUE	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE: Disaggregated revenue In the following table, the Company’s revenue is disaggregated by primary industry verticals: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Industry vertical: Technology and consumer electronics $ 500,595 $ 448,104 $ 1,437,548 $ 1,278,199 Retail, travel and ecommerce 299,595 241,662 879,537 712,629 Communications and media 274,424 256,461 808,884 760,111 Banking, financial services and insurance 234,844 210,730 733,673 648,630 Healthcare 143,085 113,749 441,473 354,391 Other 127,059 126,545 382,640 366,447 Total $ 1,579,602 $ 1,397,251 $ 4,683,755 $ 4,120,407

PENSION AND EMPLOYEE BENEFITS P

PENSION AND EMPLOYEE BENEFITS PLANS	9 Months Ended
PENSION AND EMPLOYEE BENEFITS PLANS	Aug. 31, 2022
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 the three and nine months ended August 31, 2022, the Company contributed $20,211 and $62,726, respectively, to defined contribution plans. During the three and nine months ended August 31, 2021, the Company contributed $27,503 and $66,644, respectively, to defined contribution plans. Defined Benefit Plans The Company has defined benefit pension and retirement plans for eligible employees of certain non-U.S. legal entities. For eligible employees in the U.S., 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.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Aug. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES: Income taxes consist of current and deferred tax expense resulting from income earned in domestic and international jurisdictions. The effective tax rates for the three and nine months ended August 31, 2022 and 2021 were impacted by the geographic mix of worldwide income and certain discrete items, which included an expense related to the sale of CIS of $3,745 and $12,991 for the three and nine months ended August 31, 2021.The liability for unrecognized tax benefits was $51,194 and $56,308 at August 31, 2022 and November 30, 2021, respectively, and is included in other long-term liabilities in the consolidated balance sheets. As of August 31, 2022 and November 30, 2021, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $46,150 and $48,438, respectively. This amount includes net interest and penalties of $9,668 and $8,861 for the respective periods. The net interest and penalties balance for November 30, 2021 includes an immaterial prior period disclosure adjustment to properly present the amount. This disclosure adjustment resulted in no impact to the Company’s consolidated balance sheets or consolidated statement of operations for any period presented. The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits could decrease between approximately $5,340 and $12,771 in the next twelve months; however, actual developments in this area could differ from those currently expected.

LEASES

LEASES	9 Months Ended
LEASES	Aug. 31, 2022
Leases [Abstract]
LEASES	LEASES: The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2035. The Company’s finance leases are not material. The following table presents the various components of operating lease costs: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Operating lease cost $ 49,627 $ 50,340 $ 150,167 $ 152,903 Short-term lease cost 4,743 4,205 14,266 11,732 Variable lease cost 11,929 9,774 35,147 29,908 Sublease income (709) (368) (2,136) (1,259) Total operating lease cost $ 65,590 $ 63,951 $ 197,444 $ 193,284 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 August 31, 2022: Fiscal Years Ending November 30, 2022 (remaining three months) $ 47,970 2023 177,650 2024 141,787 2025 93,751 2026 48,465 Thereafter 46,620 Total payments 556,243 Less: imputed interest* 53,419 Total present value of lease payments $ 502,824 *Imputed interest represents the difference between undiscounted cash flows and discounted cash flows. The following amounts were recorded in the consolidated balance sheets related to the Company’s operating leases: As of August 31, 2022 November 30, 2021 Operating lease ROU assets Other assets, net $ 483,905 $ 489,171 Current operating lease liabilities Other accrued liabilities 156,182 153,329 Non-current operating lease liabilities Other long-term liabilities 346,642 354,471 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: Nine Months Ended August 31, 2022 August 31, 2021 Cash paid for amounts included in the measurement of lease liabilities $ 147,579 $ 157,920 Non-cash ROU assets obtained in exchange for lease liabilities 150,492 116,085 The weighted-average remaining lease term and discount rate as of August 31, 2022 and November 30, 2021 were as follows: As of August 31, 2022 November 30, 2021 Weighted-average remaining lease term (years) 3.80 3.81 Weighted-average discount rate 5.16 % 5.82 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Aug. 31, 2022
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. Under the separation and distribution agreement with TD SYNNEX, the Company agreed to indemnify TD SYNNEX, each of its subsidiaries and each of their respective directors, officers and employees from and against all liabilities allocated to Concentrix under the separation and distribution agreement, which are generally those liabilities that relate to the CX business and the Company’s business activities, whether incurred prior to or after the spin-off. Under the tax matters agreement with TD SYNNEX, if the spin-off fails to qualify for tax-free treatment, the Company is generally required to indemnify TD SYNNEX for any taxes resulting from the spin-off (and related costs and other damages) to the extent such amounts result from (1) an acquisition of all or a portion of the Company’s equity securities or assets by any means, (2) any action or failure to act by the Company after the distribution affecting the voting rights of the Company’s stock, (3) other actions or failures to act by the Company, or (4) certain breaches of the Company’s agreements and representations in the tax matters agreement. The Company’s indemnification obligations to TD SYNNEX and its subsidiaries, officers, directors and employees are not limited by any maximum amount.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Aug. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying interim unaudited consolidated financial statements have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The amounts as of November 30, 2021 have been derived from the Company’s annual audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. These interim consolidated financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. All intercompany balances and transactions have been eliminated in consolidation.
Risks and uncertainties related to the COVID-19 pandemic	Risks and uncertainties related to the COVID-19 pandemic The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains and labor force participation, and created significant volatility and disruption of financial markets. The Company successfully transitioned a significant portion of its workforce to a remote working environment throughout the second quarter of 2020 and implemented a number of safety and social distancing measures in the Company’s sites to protect the health and safety of the team. During the three and nine months ended August 31, 2022, almost all of the Company’s workforce was productive, but the Company experienced the continued effects of the COVID-19 pandemic, as variants caused new waves of COVID-19 cases around the globe. The extent of the continued impact of the COVID-19 pandemic on the Company’s operational and financial performance, including its ability to execute business strategies and initiatives in the expected time frame, will depend on future developments, including the duration, spread and severity of the pandemic, the evolution of the
Concentration of credit risk	Concentration of credit risk For the three and nine months ended August 31, 2022, no client accounted for more than 10% of the Company’s consolidated revenue. For the three and nine months ended August 31, 2021, one client accounted for 11.9% and 11.7%, respectively, of the Company’s consolidated revenue.
Recently adopted accounting pronouncements and Recently issued accounting pronouncements	Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued new guidance that simplifies the accounting for income taxes. The guidance is 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.

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
ACQUISITION (Tables)	Aug. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	The preliminary 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 acquired (6) 29,653 Total purchase price consideration $ 1,580,977 (1) Represents the cash consideration paid for the outstanding shares of PK’s 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 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 balance acquired at acquisition. The preliminary 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 acquired (4) 24,355 Total purchase price consideration $ 142,804 (1) Represents the cash consideration paid for the outstanding shares of ServiceSource’s 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 balance acquired at acquisition.
Schedule of Business Acquisitions	The following table summarizes the preliminary estimates of 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 $ 29,653 Accounts receivable 86,955 Property and equipment 11,198 Operating lease right-of-use assets 12,288 Identifiable intangible assets 469,300 Goodwill 1,125,267 Other assets 11,954 Total assets acquired $ 1,746,615 Liabilities assumed and non-controlling interest: Accounts payable and accrued liabilities 67,594 Operating lease liabilities 12,288 Deferred tax liabilities 54,103 Non-controlling interest 2,000 Total liabilities assumed and non-controlling interest 135,985 Total consideration transferred $ 1,610,630 The following table summarizes the preliminary estimates of 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 6,951 Operating lease right-of-use assets 29,487 Identifiable intangible assets 40,200 Goodwill 69,387 Other assets 20,120 Total assets acquired $ 230,597 Liabilities assumed: Accounts payable and accrued liabilities 33,951 Operating lease liabilities 29,487 Total liabilities assumed 63,438 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 Customer relationships $ 398,600 15 years Technology 63,500 5 years Trade name 5,000 3 years Non-compete agreements 2,200 3 years Total $ 469,300 The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 31,370 15 years Technology 5,640 5 years Trade name 3,190 3 years Total $ 40,200
Business Acquisition, Pro Forma Information	The supplemental pro forma financial information for the periods presented is as follows: Three Months Ended Nine Months Ended August 31, August 31, 2022 2021 2022 2021 Revenue $ 1,579,602 $ 1,510,681 $ 4,716,716 $ 4,439,073 Net income 107,912 115,236 327,701 281,089 Three Months Ended Nine Months Ended August 31, 2022 August 31, 2022 Revenue $ 142,525 $ 349,684 Income before income taxes (1,413) 1,567

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
SHARE-BASED COMPENSATION (Tables)	Aug. 31, 2022
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 the three and nine months ended August 31, 2022 and 2021 as follows: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Total share-based compensation $ 9,862 $ 9,457 $ 37,678 $ 25,858 Tax benefit recorded in the provision for income taxes (2,505) (2,364) (9,569) (6,464) Effect on net income $ 7,357 $ 7,093 $ 28,109 $ 19,394

BALANCE SHEET COMPONENTS (Table

BALANCE SHEET COMPONENTS (Tables)	9 Months Ended
BALANCE SHEET COMPONENTS (Tables)	Aug. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and 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 August 31, 2022 November 30, 2021 Cash and cash equivalents $ 176,082 $ 182,038 Restricted cash included in other current assets 2,419 972 Cash, cash equivalents and restricted cash $ 178,501 $ 183,010
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash and 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 August 31, 2022 November 30, 2021 Cash and cash equivalents $ 176,082 $ 182,038 Restricted cash included in other current assets 2,419 972 Cash, cash equivalents and restricted cash $ 178,501 $ 183,010
Schedule of Accounts Receivable	Accounts receivable, net is comprised of the following as of August 31, 2022 and November 30, 2021: As of August 31, 2022 November 30, 2021 Billed accounts receivable $ 784,473 $ 714,032 Unbilled accounts receivable 575,728 499,342 Less: Allowance for doubtful accounts (5,136) (5,421) Accounts receivable, net $ 1,355,065 $ 1,207,953
Schedule of Allowance for Doubtful Trade Receivables	Presented below is a progression of the allowance for doubtful trade receivables: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Balance at beginning of period $ 6,994 $ 5,513 $ 5,421 $ 8,963 Net additions (reductions) (1,033) 1,369 3,389 (763) Write-offs and reclassifications (825) (931) (3,674) (2,249) Balance at end of period $ 5,136 $ 5,951 $ 5,136 $ 5,951
Property, Plant and Equipment	The following tables summarize the carrying amounts and related accumulated depreciation for property and equipment as of August 31, 2022 and November 30, 2021: As of August 31, 2022 November 30, 2021 Land $ 27,297 $ 27,677 Equipment, computers and software 513,683 488,270 Furniture and fixtures 88,993 90,442 Buildings, building improvements and leasehold improvements 355,897 364,166 Construction-in-progress 15,810 10,741 Total property and equipment, gross $ 1,001,680 $ 981,296 Less: Accumulated depreciation (611,337) (574,152) Property and equipment, net $ 390,343 $ 407,144 Shown below are the countries where 10% or more of the Company’s property and equipment, net are located as of August 31, 2022 and November 30, 2021: As of August 31, 2022 November 30, 2021 Property and equipment, net: United States $ 118,455 $ 101,333 Philippines 72,152 87,548 India 41,689 46,167 Others 158,047 172,096 Total $ 390,343 $ 407,144
Schedule of Goodwill	The following table summarizes the changes in the Company’s goodwill for the nine months ended August 31, 2022: Balance as of November 30, 2021 $ 1,813,502 Acquisitions 1,195,039 Foreign exchange translation (36,721) Balance as of August 31, 2022 $ 2,971,820
Schedule of Intangible Assets	The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of August 31, 2022 and November 30, 2021: As of August 31, 2022 As of November 30, 2021 Gross amounts Accumulated amortization Net amounts Gross amounts Accumulated amortization Net amounts Customer relationships $ 1,728,680 $ (773,084) $ 955,596 $ 1,347,961 $ (694,701) $ 653,260 Technology 79,746 (18,213) 61,533 10,835 (8,900) 1,935 Trade names 14,653 (7,709) 6,944 6,724 (6,391) 333 Non-compete agreements 2,200 (497) 1,703 — — — $ 1,825,279 $ (799,503) $ 1,025,776 $ 1,365,520 $ (709,992) $ 655,528
Schedule of Intangible Assets, Future Amortization Expense	Estimated future amortization expense of the Company’s intangible assets is as follows: Fiscal years ending November 30, 2022 (remaining three months) $ 41,826 2023 156,440 2024 145,594 2025 133,563 2026 117,080 Thereafter 431,273 Total $ 1,025,776
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows: Three Months Ended August 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, May 31, 2021 $ (39,032) $ 23,312 $ 47,270 $ 31,550 Other comprehensive income (loss) before reclassification 2 (11,219) (56,105) (67,322) Reclassification of gains from other comprehensive income (loss) — (4,091) — (4,091) Balances at August 31, 2021 $ (39,030) $ 8,002 $ (8,835) $ (39,863) Balance, May 31, 2022 $ (21,979) $ (14,642) $ (115,212) $ (151,833) Other comprehensive income (loss) before reclassification 951 (30,299) (113,863) (143,211) Reclassification of gains from other comprehensive income (loss) — 9,752 — 9,752 Balances at August 31, 2022 $ (21,028) $ (35,189) $ (229,075) $ (285,292) Nine Months Ended August 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, November 30, 2020 $ (38,584) $ 29,239 $ 5,531 $ (3,814) Other comprehensive income (loss) before reclassification (446) (620) (14,366) (15,432) Reclassification of gains from other comprehensive income (loss) — (20,617) — (20,617) Balances at August 31, 2021 $ (39,030) $ 8,002 $ (8,835) $ (39,863) Balance, November 30, 2021 $ (22,745) $ (1,403) $ (46,378) $ (70,526) Other comprehensive income (loss) before reclassification 1,717 $ (46,003) (182,697) (226,983) Reclassification of gains from other comprehensive income (loss) — 12,217 — 12,217 Balances at August 31, 2022 $ (21,028) $ (35,189) $ (229,075) $ (285,292)

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
DERIVATIVE INSTRUMENTS (Tables)	Aug. 31, 2022
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 7 and summarized in the table below: Value as of Balance Sheet Line Item August 31, 2022 November 30, 2021 Derivative instruments not designated as hedging instruments: Foreign exchange forward contracts (notional value) $ 1,375,458 $ 1,415,447 Other current assets 11,744 10,058 Other accrued liabilities 31,313 12,542 Derivative instruments designated as cash flow hedges: Foreign exchange forward contracts (notional value) $ 946,939 $ 918,097 Other current assets and other assets 509 7,851 Other accrued liabilities and other long-term liabilities 47,768 9,736
Derivative Instruments, Gain (Loss)	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: Three Months Ended Nine Months Ended Locations of gain (loss) in statement of operations August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Derivative instruments designated as cash flow hedges (Loss) / Gain recognized in OCI: Foreign exchange forward contracts $ (40,691) $ (15,059) $ (61,782) $ (666) (Losses) / Gains reclassified from AOCI into income: Foreign exchange forward contracts (Loss) / Gain reclassified from AOCI into income Cost of revenue for services $ (9,909) $ 3,839 $ (12,920) $ 19,801 (Loss) / Gain reclassified from AOCI into income Selling, general and administrative expenses (3,187) 1,652 (3,487) 7,756 Total $ (13,096) $ 5,491 $ (16,407) $ 27,557 Derivative instruments not designated as hedging instruments: (Loss) / Gain recognized from foreign exchange forward contracts, net (1) Other expense (income), net $ (39,367) $ (13,388) $ (56,527) $ 4,653

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Aug. 31, 2022
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 August 31, 2022 As of November 30, 2021 Fair value measurement category Fair value measurement category Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 93,485 $ 93,485 $ — $ — $ 77,332 $ 77,332 $ — $ — Foreign government bond 1,539 1,539 — — 1,446 1,446 — — Forward foreign currency exchange contracts 12,253 — 12,253 — 17,909 — 17,909 — Liabilities: Forward foreign currency exchange contracts $ 79,081 $ — $ 79,081 $ — $ 22,278 $ — $ 22,278 $ —

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
BORROWINGS (Tables)	Aug. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings consist of the following: As of August 31, 2022 November 30, 2021 Credit Facility - current portion of Term Loan component $ 6,250 $ — Current portion of long term debt $ 6,250 $ — Credit Facility - Term Loan component $ 1,968,750 $ — Credit Facility - Prior Term Loan component — 700,000 Securitization Facility 440,000 105,000 Long-term debt, before unamortized debt discount and issuance costs 2,408,750 805,000 Less: unamortized debt discount and issuance costs (7,651) (2,983) Long-term debt, net $ 2,401,099 $ 802,017

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Aug. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Basic earnings per common share: Net income $ 106,690 $ 109,754 $ 330,105 $ 281,469 Less: net income allocated to participating securities (1) (1,582) (1,669) (4,850) (3,992) Net income attributable to common stockholders $ 105,108 $ 108,085 $ 325,255 $ 277,477 Weighted-average number of common shares - basic 51,193 51,432 51,461 51,288 Basic earnings per common share $ 2.05 $ 2.10 $ 6.32 $ 5.41 Diluted earnings per common share: Net income $ 106,690 $ 109,754 $ 330,105 $ 281,469 Less: net income allocated to participating securities (1) (1,571) (1,649) (4,816) (3,945) Net income attributable to common stockholders $ 105,119 $ 108,105 $ 325,289 $ 277,524 Weighted-average number of common shares - basic 51,193 51,432 51,461 51,288 Effect of dilutive securities: Stock options and restricted stock units 356 629 373 626 Weighted-average number of common shares - diluted 51,549 52,061 51,834 51,914 Diluted earnings per common share $ 2.04 $ 2.08 $ 6.28 $ 5.35 (1) Restricted stock awards granted to employees by the Company are considered participating securities.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
REVENUE (Tables)	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	In the following table, the Company’s revenue is disaggregated by primary industry verticals: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Industry vertical: Technology and consumer electronics $ 500,595 $ 448,104 $ 1,437,548 $ 1,278,199 Retail, travel and ecommerce 299,595 241,662 879,537 712,629 Communications and media 274,424 256,461 808,884 760,111 Banking, financial services and insurance 234,844 210,730 733,673 648,630 Healthcare 143,085 113,749 441,473 354,391 Other 127,059 126,545 382,640 366,447 Total $ 1,579,602 $ 1,397,251 $ 4,683,755 $ 4,120,407

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Aug. 31, 2022
Leases [Abstract]
Schedule of Lease Cost	The following table presents the various components of operating lease costs: Three Months Ended Nine Months Ended August 31, 2022 August 31, 2021 August 31, 2022 August 31, 2021 Operating lease cost $ 49,627 $ 50,340 $ 150,167 $ 152,903 Short-term lease cost 4,743 4,205 14,266 11,732 Variable lease cost 11,929 9,774 35,147 29,908 Sublease income (709) (368) (2,136) (1,259) Total operating lease cost $ 65,590 $ 63,951 $ 197,444 $ 193,284 The weighted-average remaining lease term and discount rate as of August 31, 2022 and November 30, 2021 were as follows: As of August 31, 2022 November 30, 2021 Weighted-average remaining lease term (years) 3.80 3.81 Weighted-average discount rate 5.16 % 5.82 %
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 August 31, 2022: Fiscal Years Ending November 30, 2022 (remaining three months) $ 47,970 2023 177,650 2024 141,787 2025 93,751 2026 48,465 Thereafter 46,620 Total payments 556,243 Less: imputed interest* 53,419 Total present value of lease payments $ 502,824
Schedule of Amounts Recorded In Consolidated Balance Sheet Related to Operating Leases	The following amounts were recorded in the consolidated balance sheets related to the Company’s operating leases: As of August 31, 2022 November 30, 2021 Operating lease ROU assets Other assets, net $ 483,905 $ 489,171 Current operating lease liabilities Other accrued liabilities 156,182 153,329 Non-current operating lease liabilities Other long-term liabilities 346,642 354,471
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: Nine Months Ended August 31, 2022 August 31, 2021 Cash paid for amounts included in the measurement of lease liabilities $ 147,579 $ 157,920 Non-cash ROU assets obtained in exchange for lease liabilities 150,492 116,085

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Aug. 31, 2022
Equity [Abstract]
Dividends Declared	During fiscal years 2022 and 2021, the Company has paid the following dividends per share approved by the Company’s board of directors: Announcement Date Record Date Per Share Dividend Amount Payment Date September 27, 2021 October 22, 2021 $0.25 November 2, 2021 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 On September 28, 2022, the Company announced a cash dividend of $0.275 per share to stockholders of record as of October 28, 2022, payable on November 8, 2022.

BACKGROUND AND BASIS OF PRESE_2

BACKGROUND AND BASIS OF PRESENTATION (Details)	Dec. 01, 2020	Aug. 31, 2022 market
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Primary industry verticals		5
Share ratio, received from distribution	1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Customer Concentration Risk - One Client	3 Months Ended	9 Months Ended		12 Months Ended
	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021	Nov. 30, 2021
Revenue
Concentration Risk [Line Items]
Concentration risk percentage	11.90%		11.70%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage		10.80%		15.30%

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Thousands			3 Months Ended	9 Months Ended
ACQUISITIONS - Narrative (Details) $ in Thousands	Jul. 20, 2022 USD ($)	Dec. 27, 2021 USD ($) market	Aug. 31, 2022 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Business Acquisition [Line Items]
Acquisitions of business, net of cash acquired				$ 1,705,447	$ 3,279
Acquisition-related and integration expenses			$ 12,565	$ 15,213
PK
Business Acquisition [Line Items]
Number of staff members acquired \| market		5,000
Acquisitions of business, net of cash acquired		$ 1,580,977
Gross Carrying Amount		469,300
Acquisition-related and integration expenses		22,842
Cash paid for acquisition		1,594,905
ServiceSource International, Inc
Business Acquisition [Line Items]
Acquisitions of business, net of cash acquired	$ 142,804
Gross Carrying Amount	$ 40,200	$ 40,200

ACQUISITIONS - Consideration (D

ACQUISITIONS - Consideration (Details) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended
	Jul. 20, 2022	Dec. 27, 2021	Aug. 31, 2022	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Acquisition-related and integration expenses			$ 12,565	$ 15,213
Acquisitions of business, net of cash acquired				$ 1,705,447	$ 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
Acquisition-related and integration expenses		22,842
Cash paid for acquisition		1,594,905
Business Combination, Consideration Transferred, Other		15,725
Purchase price		1,610,630
Cash Acquired from Acquisition		29,653
Acquisitions of business, net of cash acquired		1,580,977
ServiceSource International, Inc
Business Acquisition [Line Items]
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
Purchase price	167,159
Cash Acquired from Acquisition		$ 24,355
Acquisitions of business, net of cash acquired	$ 142,804

ACQUISITIONS - Purchase Price (

ACQUISITIONS - Purchase Price (Details) - USD ($) $ in Thousands			9 Months Ended
	Jul. 20, 2022	Dec. 27, 2021	Aug. 31, 2022	Aug. 31, 2021	Nov. 30, 2021
Business Acquisition [Line Items]
Goodwill			$ 2,971,820		$ 1,813,502
Acquisitions of business, net of cash acquired			$ 1,705,447	$ 3,279
PK
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 29,653
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		86,955
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		11,198
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use-Assets		12,288
Gross Carrying Amount		469,300
Goodwill		1,125,267
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		11,954
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		1,746,615
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		67,594
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		54,103
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value		2,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		135,985
Purchase price		1,610,630
Acquisitions of business, net of cash acquired		1,580,977
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	6,951
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use-Assets	29,487
Gross Carrying Amount	40,200	$ 40,200
Goodwill	69,387
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	20,120
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	230,597
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	33,951
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	29,487
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	63,438
Purchase price	167,159
Acquisitions of business, net of cash acquired	$ 142,804

ACQUISITIONS - Intangible Asset

ACQUISITIONS - Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 20, 2022	Dec. 27, 2021
PK
Business Acquisition [Line Items]
Gross Carrying Amount		$ 469,300
PK \| Customer relationships
Business Acquisition [Line Items]
Gross Carrying Amount		$ 398,600
Weighted-Average Useful Life		15 years
PK \| Technology
Business Acquisition [Line Items]
Gross Carrying Amount		$ 63,500
Weighted-Average Useful Life		5 years
PK \| Trade names
Business Acquisition [Line Items]
Gross Carrying Amount		$ 5,000
Weighted-Average Useful Life		3 years
PK \| Non-compete agreements
Business Acquisition [Line Items]
Gross Carrying Amount		$ 2,200
Weighted-Average Useful Life		3 years
ServiceSource International, Inc
Business Acquisition [Line Items]
Gross Carrying Amount	$ 40,200	$ 40,200
ServiceSource International, Inc \| Customer relationships
Business Acquisition [Line Items]
Gross Carrying Amount	$ 31,370
Weighted-Average Useful Life	15 years
ServiceSource International, Inc \| Technology
Business Acquisition [Line Items]
Gross Carrying Amount	$ 5,640
Weighted-Average Useful Life	5 years
ServiceSource International, Inc \| Trade names
Business Acquisition [Line Items]
Gross Carrying Amount	$ 3,190
Weighted-Average Useful Life	3 years

ACQUISITIONS - Pro Forma (Detai

ACQUISITIONS - Pro Forma (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
ACQUISITIONS - Pro Forma (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Revenue	$ 1,579,602	$ 1,397,251	$ 4,683,755	$ 4,120,407
Income before income taxes	149,359	152,369	442,434	400,777
PK
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	1,579,602	1,510,681	4,716,716	4,439,073
Business Acquisition, Pro Forma Net Income (Loss)	107,912	$ 115,236	327,701	$ 281,089
PK & ServiceSource International, Inc
Business Acquisition [Line Items]
Revenue	142,525		349,684
Income before income taxes	$ (1,413)		$ 1,567

ACQUISITIONS - Divestitures (De

ACQUISITIONS - Divestitures (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jul. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Proceeds from divestitures, net of cash sold		$ 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

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - $ / shares	1 Months Ended
SHARE-BASED COMPENSATION - Narrative (Details) - $ / shares	Jan. 31, 2022	Dec. 01, 2021	Nov. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)			4,000,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)		523,000
Common stock authorized for issuance (in shares)			1,000,000
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	137,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 181.09
Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	129,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 178.58
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

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Share-based Payment Arrangement [Abstract]
Total share-based compensation	$ 9,862	$ 9,457	$ 37,678	$ 25,858
Tax benefit recorded in the provision for income taxes	(2,505)	(2,364)	(9,569)	(6,464)
Effect on net income	$ 7,357	$ 7,093	$ 28,109	$ 19,394

BALANCE SHEET COMPONENTS - Cash

BALANCE SHEET COMPONENTS - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	Nov. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Cash and cash equivalents	$ 176,082	$ 182,038
Restricted cash included in other current assets	2,419	972
Cash, cash equivalents and restricted cash	$ 178,501	$ 183,010	$ 155,594	$ 156,351

BALANCE SHEET COMPONENTS - Acco

BALANCE SHEET COMPONENTS - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Aug. 31, 2022	May 31, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Nov. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for doubtful accounts	$ (5,136)	$ (6,994)	$ (5,421)	$ (5,951)	$ (5,513)	$ (8,963)
Accounts receivable, net	1,355,065		1,207,953
Billed accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	784,473		714,032
Unbilled accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 575,728		$ 499,342

BALANCE SHEET COMPONENTS - Allo

BALANCE SHEET COMPONENTS - Allowance for Doubtful Trade Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021	May 31, 2022	Nov. 30, 2021	May 31, 2021	Nov. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts Receivable, Allowance for Credit Loss, Current	$ 5,136	$ 5,951	$ 5,136	$ 5,951	$ 6,994	$ 5,421	$ 5,513	$ 8,963
Write-offs and reclassifications	(825)	(931)	(3,674)	(2,249)
Provision for doubtful accounts	$ (1,033)	$ 1,369	$ 3,389	$ (763)

BALANCE SHEET COMPONENTS - Prop

BALANCE SHEET COMPONENTS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,001,680	$ 981,296
Less: Accumulated depreciation	(611,337)	(574,152)
Property and equipment, net	390,343	407,144
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	118,455	101,333
Philippines
Property, Plant and Equipment [Line Items]
Property and equipment, net	72,152	87,548
India
Property, Plant and Equipment [Line Items]
Property and equipment, net	41,689	46,167
Other
Property, Plant and Equipment [Line Items]
Property and equipment, net	158,047	172,096
Land
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	27,297	27,677
Equipment, computers and software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	513,683	488,270
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	88,993	90,442
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	355,897	364,166
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 15,810	$ 10,741

BALANCE SHEET COMPONENTS - Good

BALANCE SHEET COMPONENTS - Goodwill (Details) $ in Thousands	9 Months Ended
	Aug. 31, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 1,813,502
Acquisitions	1,195,039
Foreign exchange translation	(36,721)
Goodwill, Ending Balance	$ 2,971,820

BALANCE SHEET COMPONENTS - Inta

BALANCE SHEET COMPONENTS - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross amounts	$ 1,825,279	$ 1,365,520
Accumulated amortization	(799,503)	(709,992)
Total	1,025,776	655,528
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross amounts	1,728,680	1,347,961
Accumulated amortization	(773,084)	(694,701)
Total	955,596	653,260
Technology
Finite-Lived Intangible Assets [Line Items]
Gross amounts	79,746	10,835
Accumulated amortization	(18,213)	(8,900)
Total	61,533	1,935
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross amounts	14,653	6,724
Accumulated amortization	(7,709)	(6,391)
Total	6,944	333
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross amounts	2,200	0
Accumulated amortization	(497)	0
Total	$ 1,703	$ 0

BALANCE SHEET COMPONENTS - Esti

BALANCE SHEET COMPONENTS - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Balance Sheet Related Disclosures [Abstract]
2021 (remaining three months)	$ 41,826
2023	156,440
2024	145,594
2025	133,563
2026	117,080
Thereafter	431,273
Total	$ 1,025,776	$ 655,528

BALANCE SHEET COMPONENTS - Accu

BALANCE SHEET COMPONENTS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021	May 31, 2022	Nov. 30, 2021	May 31, 2021	Nov. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 9,752	$ (4,091)	$ 12,217	$ (20,617)
Total stockholders’ equity	2,646,627	2,565,755	2,646,627	2,565,755	$ 2,723,945	$ 2,620,255	$ 2,529,768	$ 2,302,085
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(143,211)	(67,322)	(226,983)	(15,432)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Total stockholders’ equity	(229,075)	(8,835)	(229,075)	(8,835)	(115,212)	(46,378)	47,270	5,531
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(113,863)	(56,105)	(182,697)	(14,366)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	9,752	(4,091)	12,217	(20,617)
Total stockholders’ equity	(35,189)	8,002	(35,189)	8,002	(14,642)	(1,403)	23,312	29,239
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(30,299)	(11,219)	(46,003)	(620)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Total stockholders’ equity	(21,028)	(39,030)	(21,028)	(39,030)	(21,979)	(22,745)	(39,032)	(38,584)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	951	2	1,717	(446)
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholders’ equity	$ (285,292)	$ (39,863)	$ (285,292)	$ (39,863)	$ (151,833)	$ (70,526)	$ 31,550	$ (3,814)

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Value of Derivative Instruments in Balance Sheets (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Not Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	$ 1,375,458	$ 1,415,447
Derivative instruments designated as cash flow hedges:
Notional value	1,375,458	1,415,447
Not Designated as Hedging Instrument \| Other current assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	11,744	10,058
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	11,744	10,058
Not Designated as Hedging Instrument \| Other accrued liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	31,313	12,542
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	31,313	12,542
Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	946,939	918,097
Derivative instruments designated as cash flow hedges:
Notional value	946,939	918,097
Designated as Hedging Instrument \| Other current assets and other assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	509	7,851
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	509	7,851
Designated as Hedging Instrument \| Other accrued liabilities and other long-term liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	47,768	9,736
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	$ 47,768	$ 9,736

DERIVATIVE INSTRUMENTS - Effect

DERIVATIVE INSTRUMENTS - Effect of Derivative Instruments on AOCI and Statements of Operations (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Designated as Hedging Instrument
Derivative [Line Items]
(Loss) / Gain reclassified from AOCI into income	$ (13,096)	$ 5,491	$ (16,407)	$ 27,557
(Losses) gains recognized in OCI	(40,691)	(15,059)	(61,782)	(666)
Other expense (income), net \| Not Designated as Hedging Instrument
Derivative [Line Items]
(Loss) gain recognized from foreign exchange forward contracts, net	(39,367)	(13,388)	(56,527)	4,653
Selling, general and administrative expenses \| Designated as Hedging Instrument
Derivative [Line Items]
(Loss) / Gain reclassified from AOCI into income	(3,187)	1,652	(3,487)	7,756
Cost of revenue for services \| Designated as Hedging Instrument
Derivative [Line Items]
(Loss) / Gain reclassified from AOCI into income	$ (9,909)	$ 3,839	$ (12,920)	$ 19,801

DERIVATIVE INSTRUMENTS - Narrat

DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Thousands	9 Months Ended
DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Thousands	Aug. 31, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Existing gains expected to be reclassified	$ 39,657

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Assets:
Cash equivalents	$ 93,485	$ 77,332
Foreign government bond	1,539	1,446
Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	12,253	17,909
Liabilities:
Forward foreign currency exchange contracts	79,081	22,278
Level 1
Assets:
Cash equivalents	93,485	77,332
Foreign government bond	1,539	1,446
Level 1 \| Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	0	0
Liabilities:
Forward foreign currency exchange contracts	0	0
Level 2
Assets:
Cash equivalents	0	0
Foreign government bond	0	0
Level 2 \| Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	12,253	17,909
Liabilities:
Forward foreign currency exchange contracts	79,081	22,278
Level 3
Assets:
Cash equivalents	0	0
Foreign government bond	0	0
Level 3 \| Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	0	0
Liabilities:
Forward foreign currency exchange contracts	$ 0	$ 0

BORROWINGS - Schedule of Debt (

BORROWINGS - Schedule of Debt (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Debt Instrument [Line Items]
Credit Facility - current portion of Term Loan component	$ 6,250	$ 0
Long-term debt, before unamortized debt discount and issuance costs	2,408,750	805,000
Less: unamortized debt discount and issuance costs	(7,651)	(2,983)
Long-term debt, net	2,401,099	802,017
Securitization Facility
Debt Instrument [Line Items]
Credit Facility - Term Loan component	440,000	105,000
Senior Secured Credit Facility \| Term Loan
Debt Instrument [Line Items]
Credit Facility - current portion of Term Loan component	6,250	0
Credit Facility - Term Loan component	0	700,000
Senior Secured Credit Facility \| New Term Loan
Debt Instrument [Line Items]
Credit Facility - Term Loan component	$ 1,968,750	$ 0

BORROWINGS - Narrative (Details

BORROWINGS - Narrative (Details)					6 Months Ended	9 Months Ended		12 Months Ended
BORROWINGS - Narrative (Details)	Aug. 31, 2022 USD ($)	Jul. 06, 2022 USD ($)	Dec. 27, 2021 USD ($)	Oct. 16, 2020 USD ($)	Nov. 30, 2021 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Nov. 30, 2021 USD ($)	Nov. 30, 2020 USD ($)	Oct. 30, 2020 USD ($)
Term Loan
Debt Instrument [Line Items]
Principal payments						$ 700,000,000	$ 200,000,000
New Term Loan
Debt Instrument [Line Items]
Principal payments						125,000,000	$ 0
Securitization Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 500,000,000
Securitization Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.10%
Securitization Facility \| Commercial Paper Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.70%
Securitization Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		0.80%
Prior Securitization Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity										$ 350,000,000
Amount outstanding					$ 250,000,000			$ 250,000,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Increase in credit facility			$ 450,000,000
Pro forma first lien leverage ratio			3
Consolidated leverage ratio			3.75
Consolidated interest coverage ratio			3
Senior Secured Credit Facility \| Revolver
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 1,000,000,000	$ 600,000,000
Amount outstanding	$ 0				0	$ 0		0
Senior Secured Credit Facility \| Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$ 900,000,000
Amount outstanding									$ 900,000,000
Quarterly installment amounts					$ 11,250,000
Principal payments								200,000,000
Debt Instrument, Periodic Prepayment								166,250,000
Senior Secured Credit Facility \| New Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 2,100,000,000
Principal payments								125,000,000
Debt Instrument, Periodic Prepayment								$ 98,750,000
Quarterly installment amounts	$ 26,250,000
Senior Secured Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percent of unused portion			0.225%
Senior Secured Credit Facility \| Minimum \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			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 \| Maximum
Debt Instrument [Line Items]
Commitment fee percent of unused portion			0.30%
Senior Secured Credit Facility \| Maximum \| SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			2%
Senior Secured Credit Facility \| Maximum \| Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1%
Senior Secured Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| SOFR Rate Loans
Debt Instrument [Line Items]
Interest rate floor			0%
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%
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%
Senior Secured Credit Facility \| Federal Funds Rate \| Not LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	Aug. 31, 2022	Nov. 30, 2021
Earnings Per Share [Abstract]
Common stock, shares issued (in shares)	52,093,000	51,927,000

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Basic earnings per common share:
Net income attributable to Concentrix Corporation	$ 106,690	$ 109,754	$ 330,105	$ 281,469
Less: net income allocated to participating securities	(1,582)	(1,669)	(4,850)	(3,992)
Net income attributable to common stockholders	$ 105,108	$ 108,085	$ 325,255	$ 277,477
Weighted-average number of common shares - basic (in shares)	51,193	51,432	51,461	51,288
Basic earnings per common share (in dollars per share)	$ 2.05	$ 2.10	$ 6.32	$ 5.41
Diluted earnings per common share:
Net income attributable to Concentrix Corporation	$ 106,690	$ 109,754	$ 330,105	$ 281,469
Less: net income allocated to participating securities	(1,571)	(1,649)	(4,816)	(3,945)
Net income attributable to common stockholders	$ 105,119	$ 108,105	$ 325,289	$ 277,524
Weighted-average number of common shares - basic (in shares)	51,193	51,432	51,461	51,288
Effect of dilutive securities:
Stock options and restricted stock units	356	629	373	626
Weighted-average number of common shares - diluted (in shares)	51,549	52,061	51,834	51,914
Diluted earnings per common share (in dollars per share)	$ 2.04	$ 2.08	$ 6.28	$ 5.35

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,579,602	$ 1,397,251	$ 4,683,755	$ 4,120,407
Technology and consumer electronics
Disaggregation of Revenue [Line Items]
Revenue	500,595	448,104	1,437,548	1,278,199
Communications and media
Disaggregation of Revenue [Line Items]
Revenue	274,424	256,461	808,884	760,111
Retail, travel and ecommerce
Disaggregation of Revenue [Line Items]
Revenue	299,595	241,662	879,537	712,629
Banking, financial services and insurance
Disaggregation of Revenue [Line Items]
Revenue	234,844	210,730	733,673	648,630
Healthcare
Disaggregation of Revenue [Line Items]
Revenue	143,085	113,749	441,473	354,391
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 127,059	$ 126,545	$ 382,640	$ 366,447

PENSION AND EMPLOYEE BENEFITS_2

PENSION AND EMPLOYEE BENEFITS PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021	Nov. 30, 2021
Retirement Benefits [Abstract]
Contributed amount	$ 20,211	$ 27,503	$ 62,726	$ 66,644
Net benefit costs	2,350	$ 6,288	7,978	$ 12,971
Plan underfunded amount	$ 90,858		$ 90,858		$ 104,689

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2021	Aug. 31, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits			$ 51,194	$ 56,308
Unrecognized tax benefits that would affect income tax expense if recognized			46,150	48,438
Interest and penalties accrued on unrecognized tax benefits			9,668	$ 8,861
Additional expense related to indefinite investment assertion reversal	$ 3,745	$ 12,991
Minimum
Income Tax Contingency [Line Items]
Unrecognized tax benefits decrease amount			5,340
Maximum
Income Tax Contingency [Line Items]
Unrecognized tax benefits decrease amount			$ 12,771

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Leases [Abstract]
Operating lease cost	$ 49,627	$ 50,340	$ 150,167	$ 152,903
Short-term lease cost	4,743	4,205	14,266	11,732
Variable lease cost	11,929	9,774	35,147	29,908
Sublease income	(709)	(368)	(2,136)	(1,259)
Total operating lease cost	$ 65,590	$ 63,951	$ 197,444	$ 193,284

LEASES - Operating Lease Liabil

LEASES - Operating Lease Liability Maturity (Details) $ in Thousands	Aug. 31, 2022 USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	$ 47,970
2023	177,650
2024	141,787
2025	93,751
2026	48,465
Thereafter	46,620
Total payments	556,243
Less: imputed interest	53,419
Total present value of lease payments	$ 502,824

LEASES - Operating Lease ROU As

LEASES - Operating Lease ROU Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Nov. 30, 2021
Leases [Abstract]
Operating lease ROU assets	$ 483,905	$ 489,171
Current operating lease liabilities	156,182	153,329
Non-current operating lease liabilities	$ 346,642	$ 354,471
Operating lease, right-of-use asset, statement of financial position	Other assets	Other assets
Operating lease, liability, current, statement of financial position	Other accrued liabilities	Other accrued liabilities
Operating Lease, liability, noncurrent, statement of financial position	Other long-term liabilities	Other long-term liabilities

LEASES - Operating Lease Supple

LEASES - Operating Lease Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 147,579	$ 157,920
Non-cash ROU assets obtained in exchange for lease liabilities	$ 150,492	$ 116,085

LEASES - Operating Lease Weight

LEASES - Operating Lease Weighted Average Remaining Lease Term and Discount Rate (Details)	Aug. 31, 2022	Nov. 30, 2021
Leases [Abstract]
Weighted-average remaining lease term (years)	3 years 9 months 18 days	3 years 9 months 21 days
Weighted-average discount rate	5.16%	5.82%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands						1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 28, 2022	Jun. 27, 2022	Mar. 29, 2022	Jan. 18, 2022	Sep. 27, 2021	Sep. 30, 2022	Aug. 31, 2022	Aug. 31, 2022	Sep. 30, 2021
Equity [Abstract]
Stock Repurchase Program, Authorized Amount									$ 500,000
Common Stock, Dividends, Per Share, Cash Paid		$ 0.25	$ 0.25	$ 0.25	$ 0.25
Stock Repurchase Program, Remaining Authorized Repurchase Amount							$ 368,068	$ 368,068
Stock Repurchased During Period, Value							$ 48,986	$ 106,836
Stock Repurchased During Period, Shares							359,000	726,000
Subsequent Event [Line Items]
Stock Repurchased During Period, Shares							359,000	726,000
Stock Repurchased During Period, Value							$ 48,986	$ 106,836
Subsequent Event
Equity [Abstract]
Stock Repurchased During Period, Value						$ 12,860
Stock Repurchased During Period, Shares						106,000
Common stock quarterly dividend declared (in dollars per share)	$ 0.275
Subsequent Event [Line Items]
Common stock quarterly dividend declared (in dollars per share)	$ 0.275
Stock Repurchased During Period, Shares						106,000
Stock Repurchased During Period, Value						$ 12,860