Concentrix (CNXC) 10-Q 9 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Feb. 28, 2021	Mar. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 28, 2021
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	44111 Nobel Drive
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94538
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	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		52,052,880
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001803599
Current Fiscal Year End Date	--11-30

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Current assets:
Cash and cash equivalents	$ 117,576	$ 152,656
Accounts receivable, net	1,129,008	1,081,481
Other current assets	160,720	189,239
Total current assets	1,407,304	1,423,376
Property and equipment, net	445,286	451,649
Goodwill	1,837,921	1,836,050
Intangible assets, net	769,149	798,959
Deferred tax assets	49,480	47,423
Other assets	611,709	620,099
Total assets	5,120,849	5,177,556
Current liabilities:
Accounts payable	101,215	140,575
Current portion of long-term debt	0	33,750
Payable to former parent	0	22,825
Accrued compensation and benefits	365,272	419,715
Other accrued liabilities	373,180	371,072
Income taxes payable	37,909	20,725
Total current liabilities	877,576	1,008,662
Long-term debt, net	1,113,218	1,111,362
Other long-term liabilities	598,314	601,887
Deferred tax liabilities	142,463	153,560
Total liabilities	2,731,571	2,875,471
Stockholders' equity:
Preferred stock, $0.0001 par value, 10,000 shares authorized as of February 28, 2021; no shares issued and outstanding as of February 28, 2021	0	0
Common stock, $0.0001 par value, 250,000 shares authorized as of February 28, 2021; 51,214 shares issued and outstanding as of February 28, 2021	5	0
Additional paid-in capital	2,314,996	0
Treasury stock, 4 shares as of February 28, 2021	(409)
Retained earnings	88,811	0
Former parent company investment	0	2,305,899
Accumulated other comprehensive loss	(14,125)	(3,814)
Total stockholders' equity	2,389,278	2,302,085
Total liabilities and stockholders' equity	$ 5,120,849	$ 5,177,556

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical)	Feb. 28, 2021$ / sharesshares
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000
Common stock, shares issued (in shares)	51,214,000
Common stock, shares outstanding (in shares)	51,214,000
Treasury stock (in shares)	4,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Income Statement [Abstract]
Revenue	$ 1,353,278	$ 1,188,619
Cost of revenue	867,228	743,429
Gross profit	486,050	445,190
Selling, general and administrative expenses	(351,161)	(356,979)
Operating income	134,889	88,211
Interest expense and finance charges, net	(7,703)	(17,585)
Other (expense) income, net	(3,803)	3,235
Income before income taxes	123,383	73,861
Provision for income taxes	(34,572)	(21,544)
Net income	$ 88,811	$ 52,317
Earnings per common share:
Basic (in dollars per share)	$ 1.72	$ 1.01
Diluted (in dollars per share)	$ 1.69	$ 1.01
Weighted-average common shares outstanding
Basic (in shares)	51,155	51,602
Diluted (in shares)	51,805	51,602

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 88,811	$ 52,317
Other comprehensive (loss) income:
Unrealized (loss) gain of defined benefit plans, net of taxes of $98 and $0 for the three months ended February 28, 2021 and February 29, 2020, respectively	(376)	18
Unrealized loss on cash flow hedges during the period, net of taxes of $2,255 and $587 for the three months ended February 28, 2021 and February 29, 2020, respectively	(7,070)	(1,763)
Reclassification of net loss on cash flow hedges to net income, net of taxes of $3,022 and $1,654 for the three months ended February 28, 2021 and February 29, 2020, respectively	(9,171)	(4,972)
Total change in unrealized losses on cash flow hedges, net of taxes	(16,241)	(6,735)
Foreign currency translation gain (loss), net of taxes of $0 for the three months ended February 28, 2021 and February 29, 2020	6,306	(12,263)
Other comprehensive loss	(10,311)	(18,980)
Comprehensive income	$ 78,500	$ 33,337

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Former parent company investment	Accumulated other comprehensive loss
Beginning Balance at Nov. 30, 2019	$ 1,469,841	$ 0	$ 0	$ 0	$ 0	$ 1,519,923	$ (50,082)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity	4,191					4,191
Other comprehensive loss	(18,980)						(18,980)
Hypothetical current tax expense recorded for separate return basis presentation	1,753					1,753
Net income	52,317					52,317
Ending Balance at Feb. 29, 2020	1,509,122	0	0	0	0	1,578,184	(69,062)
Beginning Balance at Nov. 30, 2020	2,302,085	0	0	0	0	2,305,899	(3,814)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity	9,102		9,102
Other comprehensive loss	(10,311)						(10,311)
Reclassification of net former parent investment in Concentrix			2,305,899			(2,305,899)
Issuance of common stock at separation and spin-off	0	5	(5)
Repurchase of common stock for tax withholdings on equity awards	(409)			(409)
Net income	88,811				88,811
Ending Balance at Feb. 28, 2021	$ 2,389,278	$ 5	$ 2,314,996	$ (409)	$ 88,811	$ 0	$ (14,125)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Cash flows from operating activities:
Net income	$ 88,811	$ 52,317
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	35,999	31,816
Amortization	34,601	36,978
Non-cash share-based compensation expense	6,811	4,191
Provision for doubtful accounts	(2,554)	1,501
Deferred income taxes	(8,276)	(7,036)
Hypothetical current tax expense recorded for separate return basis presentation	0	1,753
Unrealized foreign exchange gains	6,305	(3,180)
Other	133	786
Changes in operating assets and liabilities:
Accounts receivable, net	(48,099)	(44,747)
Payable to former parent	(22,825)	306
Accounts payable	(27,766)	4,629
Other operating assets and liabilities	(27,256)	(24,428)
Net cash provided by operating activities	35,884	54,886
Cash flows from investing activities:
Repayments of loan to non-Concentrix subsidiary of former parent as part of its centralized treasury operations	0	9,219
Purchases of property and equipment	(41,950)	(43,888)
Net cash used in investing activities	(41,950)	(34,669)
Cash flows from financing activities:
Repayments of the Credit Facility - Term Loan	(50,000)	0
Proceeds from the Securitization Facility	399,500	0
Repayments of the Securitization Facility	(382,000)	0
Repayments of borrowings from former parent	0	(17,238)
Proceeds from exercise of stock options	2,291	0
Repurchase of common stock for tax withholdings on equity awards	(409)	0
Net cash used in financing activities	(30,618)	(17,238)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(471)	346
Net (decrease) increase in cash, cash equivalents and restricted cash	(37,155)	3,325
Cash, cash equivalents and restricted cash at beginning of year	156,351	83,514
Cash, cash equivalents and restricted cash at end of period	119,196	86,839
Supplemental disclosure of non-cash investing activities:
Accrued costs for property and equipment purchases	$ 6,768	$ 5,929

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Statement of Comprehensive Income [Abstract]
Change in unrealized losses of defined benefit plans, tax	$ 98	$ 0
Unrealized gains (losses) on cash flow hedges, tax	2,255	587
Reclassification of net loss on cash flow hedges to net income, tax	3,022	1,654
Foreign currency translation gain (loss), tax	$ 0	$ 0

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	3 Months Ended
	Feb. 28, 2021
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 technology-infused Customer Experience (“CX”) solutions 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, front- and back-office automation analytics and business transformation services to clients in five primary industry verticals. On December 1, 2020, the separation of the CX business (the “separation”) from SYNNEX Corporation (“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 SYNNEX stockholders (the “distribution” and, together with the separation, the “spin-off”). SYNNEX stockholders received one share of the Company’s common stock for each share of 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. In connection with the spin-off, on November 30, 2020, the Company entered into a separation and distribution agreement, an employee matters agreement, a tax matters agreement and a commercial agreement with SYNNEX to set forth the principal actions to be taken in connection with the spin-off and define the Company’s ongoing relationship with SYNNEX after the spin-off. 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, 2020 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, 2020. 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, 2020. Prior to the spin-off on December 1, 2020 Prior to the spin-off, the CX business was held entirely within certain wholly-owned subsidiaries of SYNNEX dedicated to the CX business. As the separate legal entities that made up the CX business were not historically held by a single legal entity, the financial statements of the Company were prepared in connection with the expected separation and were derived from the SYNNEX consolidated financial statements and accounting records as if the Company had been operated on a stand-alone basis during the periods presented. Accordingly, for periods prior to December 1, 2020, the Company’s financial statements are presented on a combined basis and for the periods subsequent to December 1, 2020, they are presented on a consolidated basis (all periods hereinafter are referred to as “consolidated financial statements”). All direct revenue and expenses attributable to the CX business, including certain allocations of former parent costs and expenses, were separately maintained in a separate ledger in the legal entities that made up the CX business. As the separate legal entities that made up the CX business were not historically held by a single legal entity, former parent company investment was shown in lieu of stockholders’ equity in the prior period. All significant intercompany balances and transactions between the legal entities that comprised the CX business were eliminated. Management of the Company and the former parent considered allocations of former parent costs to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Company. The allocations may not, however, have reflected the expense the Company would have incurred as a stand-alone company for those periods presented. Actual costs that may have been incurred if the Company had been a stand-alone company would depend on a number of factors, including the chosen organizational structure, what functions were outsourced or performed by employees and other strategic decisions. Prior to the spin-off, certain Concentrix legal entities in the United States jointly and severally guaranteed certain of SYNNEX’ borrowing arrangements and substantially all of the assets of these Concentrix legal entities secured SYNNEX' obligations under the borrowing arrangements. Historically, Concentrix received or provided funding for acquisitions or ongoing operations as part of SYNNEX’ centralized treasury program. Accordingly, only cash amounts specifically recorded in the separate Concentrix ledger were reflected in the balance sheets. The Company reflected transfers of the cash from the former parent’s cash management system as loans or other accounts payable to the former parent or a reduction of accounts or loans receivable in the balance sheets based on the purpose for which the cash was provided by the former parent. Similarly, cash transfers to the former parent were reflected as reductions of loans or other accounts payable to the former parent or as loans receivable from the former parent. The cash payments and receipts were recorded in the statements of cash flows as operating or financing activities based on the nature of the transactions for which the funds were transferred between the Company and the former parent. Prior to the spin-off, operations of Concentrix were included in the consolidated U.S. federal, and certain state and local income tax returns filed by SYNNEX, where applicable. Concentrix also filed certain separate state, local and foreign tax returns. Income tax expense and other income tax related information contained in the financial statements prior to the spin-off were presented on a separate return basis, which required the Company to estimate tax expense as if the Company filed a separate return apart from SYNNEX. The income taxes of Concentrix as presented in the financial statements for these periods may not be indicative of the income taxes that Concentrix has incurred or will incur following the spin-off. Reclassifications Certain amounts in the consolidated financial statements related to prior period have been reclassified to conform to the current period's presentation. Risks and uncertainties related to the COVID-19 pandemic In December 2019, there was an outbreak of a new strain of coronavirus (“COVID-19”). In March 2020, the World Health Organization declared the COVID-19 outbreak a 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 our sites to protect the health and safety of employees. During the first quarter of 2021, almost all of the Company's workforce was productive. The Company incurred incremental costs of approximately $10 million associated with COVID-19 during the first quarter of 2021. The Company is unable to predict how long the pandemic conditions will persist in the regions in which the Company operates, what additional measures may be introduced by governments or the Company’s clients and the effect of any such additional measures on the Company’s business. As a result, many of the estimates and assumptions used in preparation of these consolidated financial statements required increased judgment and carry a

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Feb. 28, 2021
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, 2020. Accounting pronouncements adopted during the three months ended February 28, 2021 are discussed below. Concentration of credit risk For the three months ended February 28, 2021, one client accounted for 11.9% of the Company’s consolidated revenue. For the three months ended February 29, 2020, no client accounted for more than 10% of the Company's consolidated revenue. As of February 28, 2021 and November 30, 2020, one client comprised 13.9% and 16.2%, respectively, of the Company's total accounts receivable balance. Recently adopted accounting pronouncements In June 2016, the Financial Accounting Standards Board (the “FASB”) issued a new credit loss standard that replaces the current incurred loss impairment model with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. This standard became effective for the Company's fiscal year beginning December 1, 2020. The adoption did not have a material impact on the consolidated financial statements. Recently issued accounting pronouncements In March 2020, the FASB issued optional guidance for a limited time to ease the potential burden in accounting for or recognizing the effects of reference rate reform, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”) on financial reporting. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments are elective and are effective upon issuance for all entities through December 31, 2022. The Company is currently evaluating the impact of the new guidance. In December 2019, 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. Certain amendments should be applied prospectively, while other amendments should be applied retrospectively to all periods presented. The Company is currently evaluating the impact of the new guidance.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Feb. 28, 2021
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS: Convergys Acquisition On October 5, 2018, SYNNEX acquired 100% of Convergys Corporation (“Convergys”), an Ohio corporation, for a purchase price of $2,269,527, pursuant to a merger agreement dated June 28, 2018. The acquisition of this customer experience outsourcing company was related to the CX business and added scale, diversified the revenue base, expanded the Company's service delivery footprint and strengthened the Company’s leadership position as a top global provider of CX services. Acquisition-related and integration expenses related to the Convergys acquisition were $15,352 during the three months ended February 29, 2020. The following table presents the activity related to liability for restructuring charges related to the Convergys acquisition through February 28, 2021 and February 29, 2020: Restructuring costs Severance and benefits Facility and exit costs Total Accrued balance as of November 30, 2019 $ 2,828 $ 14,164 $ 16,992 Additional (release of) accrual during the period 436 (11,734) (11,298) Cash payments (1,511) (1,309) (2,820) Accrued balance as of February 29, 2020 $ 1,753 $ 1,121 $ 2,874 Accrued balance as of November 30, 2020 $ — $ 17,810 $ 17,810 Cash payments — (2,004) (2,004) Accrued balance as of February 28, 2021 $ — $ 15,806 $ 15,806

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Feb. 28, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION: In November 2020, in connection with the spin-off, 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. Prior to the spin-off, certain of the Company’s employees participated in a long-term incentive plan sponsored by SYNNEX. In connection with the completion of the spin-off and pursuant to the employee matters agreement with SYNNEX, each outstanding SYNNEX share-based award as of the distribution date was converted into either (a) SYNNEX and Concentrix share-based awards, each with the same number of shares as the original SYNNEX award, or (b) a share-based award of only SYNNEX common stock or only Concentrix common stock, with an adjustment to the number of shares to preserve the value of the award. As a result of the conversion of awards, on December 1, 2020, 827 restricted stock awards and restricted stock units and 684 stock options were issued under the Concentrix Stock Incentive Plan. Following the conversion, it was determined that the share-based awards were modified in accordance with the applicable accounting guidance. As a result, the fair values of the share-based awards immediately before and after the modification were assessed in order to determine if the modification resulted in any incremental compensation cost related to the awards. Based on the analysis performed, including consideration of the anti-dilution feature contained in the SYNNEX stock incentive plan, it was determined that the conversion resulted in an immaterial amount of incremental compensation cost for the outstanding awards. On January 20, 2021, the Company granted 431 restricted stock awards and restricted stock units and 26 stock options under the Concentrix Stock Incentive Plan, representing annual employee stock awards for fiscal year 2020 and pro-rated non-employee director stock awards for the 2020-2021 service year. The employee grants were delayed from October 2020 to January 2021 due to the previously pending spin-off. The Company recognizes share-based compensation expense for all share-based awards made to employees, including employee stock options, restricted stock awards, restricted stock units, performance-based restricted stock units and employee stock purchases, based on estimated fair values. The Company recorded share-based compensation expense in the consolidated statements of operations for the three months ended February 28, 2021 and February 29, 2020 as follows: Three Months Ended February 28, 2021 February 29, 2020 Total share-based compensation $ 7,118 $ 4,262 Tax benefit recorded in the provision for income taxes (1,780) (1,066) Effect on net income $ 5,338 $ 3,196

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS	3 Months Ended
	Feb. 28, 2021
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 February 28, 2021 November 30, 2020 Cash and cash equivalents $ 117,576 $ 152,656 Restricted cash included in other current assets 1,620 3,695 Cash, cash equivalents and restricted cash $ 119,196 $ 156,351 Restricted cash balances relate primarily to restrictions placed by banks on cash collateral for the issuance of bank guarantees and the terms of a government grant. Accounts receivable, net: Accounts receivable, net is comprised of the following: As of February 28, 2021 November 30, 2020 Billed accounts receivable $ 695,824 $ 644,789 Unbilled accounts receivable 439,423 445,655 Less: Allowance for doubtful accounts (6,239) (8,963) Accounts receivable, net $ 1,129,008 $ 1,081,481 Allowance for doubtful trade receivables: Presented below is a progression of the allowance for doubtful trade receivables: Balances at November 30, 2019 $ 6,055 Net additions 1,501 Write-offs and reclassifications (603) Balances at February 29, 2020 $ 6,953 Balances at November 30, 2020 $ 8,963 Net reductions (2,554) Write-offs and reclassifications (170) Balances at February 28, 2021 $ 6,239 Property and equipment, net: The following tables summarize the carrying amounts and related accumulated depreciation for property and equipment as of February 28, 2021 and November 30, 2020: As of February 28, 2021 November 30, 2020 Land $ 28,705 $ 29,000 Equipment, computers and software 493,725 476,243 Furniture and fixtures 91,484 90,944 Buildings, building improvements and leasehold improvements 350,071 336,194 Construction-in-progress 4,408 10,115 Total property and equipment, gross $ 968,393 $ 942,496 Less: Accumulated depreciation (523,107) (490,847) Property and equipment, net $ 445,286 $ 451,649 Shown below are countries where 10% or more of the Company’s property and equipment, net are located: As of February 28, 2021 November 30, 2020 Property and equipment, net: United States $ 143,857 $ 149,903 Philippines 90,402 87,686 India 45,042 46,642 Others 165,985 167,418 Total $ 445,286 $ 451,649 Goodwill: The following table summarizes the changes in the Company’s goodwill for the period ended February 28, 2021: Balance as of November 30, 2020 $ 1,836,050 Foreign exchange translation 1,871 Balance as of February 28, 2021 $ 1,837,921 Intangible assets, net: The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of February 28, 2021 and November 30, 2020: As of February 28, 2021 As of November 30, 2020 Gross Accumulated amortization Net amounts Gross Accumulated amortization Net amounts Customer relationships $ 1,399,728 $ (634,652) $ 765,076 $ 1,389,341 $ (595,024) $ 794,317 Technology 14,886 (11,578) 3,308 14,830 (11,045) 3,785 Trade names 6,974 (6,209) 765 6,846 (5,989) 857 $ 1,421,588 $ (652,439) $ 769,149 $ 1,411,017 $ (612,058) $ 798,959 Estimated future amortization expense of the Company’s intangible assets is as follows: Fiscal years ending November 30, 2021 (remaining 9 months) $ 103,241 2022 117,329 2023 102,876 2024 85,061 2025 74,969 Thereafter 285,673 Total $ 769,149 Accumulated other comprehensive income (loss): The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows: Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balances at November 30, 2019 $ (29,940) $ 17,523 $ (37,665) $ (50,082) Other comprehensive income (loss) before reclassification 18 (1,763) (12,263) (14,008) Reclassification of (gains) losses from other comprehensive income (loss) — (4,972) — (4,972) Balances at February 29, 2020 $ (29,922) $ 10,788 $ (49,928) $ (69,062) Balances at November 30, 2020 $ (38,584) $ 29,239 $ 5,531 $ (3,814) Other comprehensive income (loss) before reclassification (376) (7,070) 6,306 (1,140) Reclassification of (gains) losses from other comprehensive income (loss) — (9,171) — (9,171) Balances at February 28, 2021 $ (38,960) $ 12,998 $ 11,837 $ (14,125)

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Feb. 28, 2021
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 prohibitive 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 balance sheet at their fair value. Changes in the fair value of derivatives are recorded in the consolidated statements of operations, or as a component of AOCI in the consolidated balance sheets, as discussed below. Cash Flow Hedges To protect gross margins from fluctuations in foreign currency exchange rates, certain of the Company’s legal entities with functional currencies that are not U.S. dollars may hedge a portion of forecasted revenue or costs not denominated in the entities’ functional currencies. These instruments mature at various dates through February 2023. 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 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 respective entities. 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: As of Balance Sheet Line Item February 28, 2021 November 30, 2020 Derivative instruments not designated as hedging instruments: Foreign exchange forward contracts (notional value) $ 1,300,604 $ 1,153,352 Other current assets 5,726 15,666 Other accrued liabilities 14,493 6,215 Derivative instruments designated as cash flow hedges: Foreign exchange forward contracts (notional value) $ 790,537 $ 814,731 Other current assets and other assets 20,797 38,212 Other accrued liabilities and other long-term liabilities 3,561 309 Volume of activity The notional amounts of foreign exchange forward contracts represent the gross amounts of foreign currency, including, principally, the Philippine Peso, the Indian Rupee, the Euro, the British Pound, the Canadian Dollar and the Japanese Yen, 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 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: Locations of gain (loss) in income For the three months ended February 28, 2021 February 29, 2020 Derivative instruments designated as cash flow hedges Losses recognized in OCI: Foreign exchange forward contracts $ (9,325) $ (2,350) Gains reclassified from AOCI into income: Foreign exchange forward contracts Gain reclassified from AOCI into income Cost of revenue for services $ 8,835 $ 4,606 Gain reclassified from AOCI into income Selling, general and administrative expenses 3,358 2,019 Total $ 12,193 $ 6,625 Derivative instruments not designated as hedging instruments: Loss recognized from foreign exchange forward contracts, net (1) $ (2,767) $ (224) (1) The gains and losses largely offset the currency gains and losses that resulted from changes in the assets and liabilities denominated in nonfunctional currencies. There were no material gain or loss amounts excluded from the assessment of effectiveness. Existing net gains in AOCI that are expected to be reclassified into earnings in the normal course of business within the next twelve months are $17,768. Offsetting of Derivatives In the consolidated balance sheets, the Company does not offset derivative assets against liabilities in master netting arrangements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Feb. 28, 2021
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 February 28, 2021 As of November 30, 2020 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 $ 58,650 58,650 — — $ 60,242 60,242 — — Foreign government bond $ 1,577 1,577 — — $ 1,355 1,355 — — Forward foreign currency exchange contracts $ 26,523 — 26,523 — $ 53,878 — 53,878 — Liabilities: Forward foreign currency exchange contracts $ 18,055 — 18,055 — $ 6,524 — 6,524 — 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 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 the 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 February 28, 2021 and November 30, 2020.

BORROWINGS

BORROWINGS	3 Months Ended
	Feb. 28, 2021
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS: Borrowings consist of the following: As of February 28, 2021 November 30, 2020 Credit Facility - current portion of Term Loan component $ — $ 33,750 Borrowings, current $ — $ 33,750 Credit Facility - Term Loan component $ 850,000 $ 866,250 Securitization Facility 267,500 250,000 Long-term debt, before unamortized debt discount and issuance costs 1,117,500 1,116,250 Less: unamortized debt discount and issuance costs (4,282) (4,888) Long-term debt, net $ 1,113,218 $ 1,111,362 Credit Facility On October 16, 2020, Concentrix entered into a new senior secured credit facility, which provides for the extension of revolving loans of up to $600,000 (the “Revolver”) and term loan borrowings of up to $900,000 (the “Term Loan” and, together with the Revolver, the “Credit Facility”). On November 30, 2020, in connection with the spin-off, the Company incurred $900,000 of initial Term Loan borrowings under the Credit Facility. Substantially all of the proceeds from such indebtedness, net of debt issuance costs, were transferred to SYNNEX on November 30, 2020 to eliminate debt owed by Concentrix to SYNNEX and in exchange for the contribution of certain Concentrix trademarks from SYNNEX to Concentrix. The Credit Facility matures on November 30, 2025. The outstanding principal amount of the Term Loan is payable in quarterly installments of $11,250 commencing on May 31, 2021, with the unpaid balance due in full on the maturity date. Concentrix may prepay the loans under the Credit Facility at any time without penalty, other than breakage fees. During the three months ended February 28, 2021, the Company made $50,000 of early principal payments on the Term Loan. The Company made additional early principal payments of $50,000 on March 31, 2021. Concentrix may request, subject to obtaining commitments from any participating lenders and certain other conditions, incremental commitments to increase the amount of the Revolver or the Term Loan available under the Credit Facility in an aggregate principal amount equal to $450,000, plus an additional amount, so long as after giving effect to the incurrence of such additional amount, the Company's pro forma first lien leverage ratio (as defined in the Credit Facility) would not exceed 3.00 to 1.00. Obligations under the Credit Facility are secured by substantially all of the assets of Concentrix and certain of its U.S. subsidiaries and are guaranteed by certain of its U.S. subsidiaries. Borrowings under the Revolver and the Term Loan bear interest, in the case of LIBOR rate loans, at a per annum rate equal to the applicable LIBOR rate (but not less than 0.25%), plus an applicable margin, which ranges from 1.25% to 2.25%, based on Concentrix’ consolidated leverage ratio. Borrowings under the Credit Facility that are not LIBOR rate loans bear interest at a per annum rate equal to (i) the greatest of (a) the Federal Funds Rate in effect on such day plus 1/2 of 1.0%, (b) the rate of interest last publicly announced by Bank of America as its “prime rate” and (c) the LIBOR rate plus 1.0%, plus (ii) an applicable margin, which ranges from 0.25% to 1.25%, based on Concentrix’ consolidated leverage ratio. Commitments under the Revolver are subject to a commitment fee on the unused portion of the Revolver, which fee ranges from 25 to 45 basis points, based on Concentrix’ consolidated leverage ratio. The Credit Facility contains various loan covenants that restrict the ability of Concentrix and its subsidiaries to take certain actions, including, incurrence of indebtedness, creation of liens, mergers or consolidations, dispositions of assets, repurchase or redemption of capital stock, making certain investments, entering into certain transactions with affiliates or changing the nature of their business. In addition, the Credit Facility contains financial covenants that require Concentrix to maintain at the end of each fiscal quarter commencing with the quarter ended February 28, 2021, (i) a consolidated leverage ratio (as defined in the Credit Facility) not to exceed 3.75 to 1.0 and (ii) a consolidated interest coverage ratio (as defined in the Credit Facility) equal to or greater than 3.00 to 1.0. The Credit Facility also contains various customary events of default, including payment defaults, defaults under certain other indebtedness, and a change of control of Concentrix. At February 28, 2021 and November 30, 2020, no amounts were outstanding under the Revolver. Securitization Facility On October 30, 2020, Concentrix entered into a new $350,000 accounts receivable securitization facility (the “Securitization Facility”) pursuant to certain agreements, including a Receivables Financing Agreement and a Receivables Purchase Agreement. On November 30, 2020, in connection with the spin-off, the Company incurred $250,000 of borrowings under the Securitization Facility. Substantially all of the proceeds from such indebtedness were transferred to SYNNEX on November 30, 2020 to eliminate debt owed by Concentrix to SYNNEX and in exchange for the contribution of certain Concentrix trademarks from SYNNEX to Concentrix. Under the Securitization Facility, Concentrix and certain of its subsidiaries sell or otherwise transfer all of their accounts receivable to a special purpose bankruptcy-remote subsidiary of Concentrix (the “Borrower”) that grants a security interest in the receivables to the lenders in exchange for available borrowings of up to $350,000. The amount received under the Securitization Facility is recorded as debt on the Company’s consolidated balance sheets. Borrowing availability under the Securitization Facility may be limited by our accounts receivables balances, changes in the credit ratings of the clients comprising the receivables, client concentration levels in the receivables, and certain characteristics of the accounts receivable being transferred (including factors tracking performance of the accounts receivable over time). The Securitization Facility has an initial termination date of October 28, 2022. Borrowings under the Securitization Facility bear interest with respect to loans that are funded through the issuance of commercial paper at the applicable commercial paper rate plus a spread of 1.05% and, otherwise, at a per annum rate equal to the applicable LIBOR rate plus a spread of 1.15%. Concentrix is also obligated to pay a monthly undrawn fee that ranges from 30 to 37.5 basis points based on the portion of the Securitization Facility that is undrawn. The Securitization Facility contains various affirmative and negative covenants, including a consolidated leverage ratio covenant that is consistent with the Credit Facility and customary events of default, including payment defaults, defaults under certain other indebtedness, a change in control of Concentrix, and certain events negatively affecting the overall credit quality of the transferred accounts receivable. The Borrower’s sole business consists of the purchase or acceptance through capital contributions of the receivables and related security from Concentrix and its subsidiaries and the subsequent retransfer of or granting of a security interest in such receivables and related security to the administrative agent under the Securitization Facility for the benefit of the lenders. The Borrower is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of the Borrower’s assets prior to any assets or value in the Borrower becoming available to the Borrower’s equity holders, and the assets of the Borrower are not available to pay creditors of Concentrix and its subsidiaries. Covenant compliance As of February 28, 2021, Concentrix was in compliance with all covenants for the above arrangements.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Feb. 28, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE: Basic and diluted earnings per 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 securities, according to dividends declared and participation rights in undistributed earnings. The Company's restricted stock awards are considered participating securities because they are legally issued at the grant date and holders are entitled to a non-forfeitable right to receive dividends. Basic EPS is generally computed by dividing net income attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted earnings per share is generally computed by dividing net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potential dilutive shares of common stock been issued. The dilutive effect of restricted stock units and stock options are reflected in diluted net income per share by applying the treasury stock method. There were no Concentrix Corporation equity awards outstanding prior to the spin-off, thus the computation of basic and diluted earnings per common share for all prior periods disclosed is calculated using the shares issued in connection with the spin-off of 51.6 million shares. Three Months Ended February 28, 2021 February 29, 2020 Basic earnings per common share: Net income $ 88,811 $ 52,317 Less: net income allocated to participating securities (1) (1,060) — Net income attributable to common stockholders $ 87,751 $ 52,317 Weighted-average number of common shares - basic 51,155 51,602 Basic earnings per share $ 1.72 $ 1.01 Diluted earnings per common share: Net income $ 88,811 $ 52,317 Less: net income allocated to participating securities (1) (1,047) — Net income attributable to common stockholders $ 87,764 $ 52,317 Weighted-average number of common shares - basic 51,155 51,602 Effect of dilutive securities: Stock options and restricted stock units 650 — Weighted-average number of common shares - diluted 51,805 51,602 Diluted earnings per common share $ 1.69 $ 1.01 (1) Restricted stock awards granted to employees by the Company are considered participating securities.

REVENUE

REVENUE	3 Months Ended
	Feb. 28, 2021
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 February 28, 2021 February 29, 2020 Industry vertical: Technology and consumer electronics $ 412,818 $ 323,913 Communications and media 248,790 263,564 Retail, travel and ecommerce 239,001 198,914 Banking, financial services and insurance 209,084 192,703 Healthcare 125,224 97,325 Other 118,361 112,201 Total $ 1,353,278 $ 1,188,619

TRANSACTIONS WITH FORMER PARENT

TRANSACTIONS WITH FORMER PARENT	3 Months Ended
	Feb. 28, 2021
Related Party Transactions [Abstract]
TRANSACTIONS WITH FORMER PARENT	TRANSACTIONS WITH FORMER PARENT: The Company provides certain services related to its core business to SYNNEX, its former parent. Revenue from customer experience services to former parent is included within revenue in the statements of operations. The cost associated with such services is reported as cost of revenue in the statements of operations. The Company purchases certain products from SYNNEX and, through November 30, 2020, recorded compensation expense for share-based awards granted by SYNNEX to Concentrix employees. Prior to November 30, 2020, the Company received allocations of corporate expenses by way of a monthly management fee and received financing for acquisition and operations under the terms of intra-SYNNEX group borrowing arrangements. Prior to December 1, 2020, the Company consisted of the CX business of SYNNEX and thus, transactions with SYNNEX were considered related party transactions. On December 1, 2020, in connection with the spin-off, the Company became an independent publicly-traded company. The following table presents the Company's related party transactions with SYNNEX for the three months ended February 29, 2020: Three months ended February 29, 2020 Revenue from customer experience services to former parent $ 5,446 Interest expense on borrowings from former parent 18,363 Interest income on borrowings made to former parent 599 Corporate allocations 394 Share-based compensation 4,262 As of November 30, 2020, the payable to former parent and its non-Concentrix subsidiaries was primarily trade in nature. Prior to the spin-off, SYNNEX had issued guarantees to certain of the Company’s clients to guarantee the performance obligations of the Company’s legal entities. These SYNNEX guarantees were released or replaced by Concentrix guarantees on or prior to the spin-off. In connection with the spin-off, on November 30, 2020, the Company entered into a separation and distribution agreement, an employee matters agreement, a tax matters agreement and a commercial agreement with SYNNEX to

PENSION AND EMPLOYEE BENEFITS P

PENSION AND EMPLOYEE BENEFITS PLANS	3 Months Ended
	Feb. 28, 2021
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 months ended February 28, 2021 and February 29, 2020, the Company contributed $20,174 and $15,476, respectively, to defined contribution plans. Defined Benefit Plans The Company has defined benefit pension or retirement plans for eligible employees in certain non-U.S. legal entities. 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. In addition, the Company has a frozen defined benefit pension plan, which includes both a qualified and non-qualified portion, for all eligible employees in the U.S. (“the cash balance plan”) and unfunded defined benefit plans for certain eligible employees in the Philippines, Malaysia and France. 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 plan assumptions are evaluated annually and are updated as deemed necessary. Net benefit costs related to defined benefit plans were $3,311 and $3,276, during the three months ended February 28, 2021 and February 29, 2020, respectively. On an aggregate basis, the plans were underfunded by $126,968 and $134,399 at February 28, 2021 and November 30, 2020, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Feb. 28, 2021
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. For the first quarter of 2020, although the Company was included in the consolidated tax returns of SYNNEX in certain jurisdictions, the Company's tax provision was recorded as if Concentrix had filed its taxes on a stand-alone basis. As a result, the Company calculated a hypothetical tax expense as part of the SYNNEX consolidated group, which resulted in an expense adjustment to increase the income tax provision by $1,753 during for the first quarter of 2020. The offset to the hypothetical tax expense was reflected in parent company investment, a component of equity in the consolidated balance sheet prior to the spin-off. The effective tax rates for the first quarter of 2021 and first quarter of 2020 were impacted by the geographic mix of worldwide income and certain discrete items. The liability for unrecognized tax benefits was $63,664 and $62,315 at February 28, 2021 and November 30, 2020, respectively, and is included in other long-term liabilities in the consolidated balance sheets. As of February 28, 2021 and November 30, 2020, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $56,222 and $54,910, respectively. This amount includes net interest and penalties of $13,558 and $14,402 for the respective periods. It is reasonably possible that the total amount of unrecognized tax benefits will decrease between approximately $11,000 and $28,000 in the next twelve months; however, actual developments in this area could differ from those currently expected.

LEASES

LEASES	3 Months Ended
	Feb. 28, 2021
Leases [Abstract]
LEASES	LEASES: The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2034. The Company’s finance leases are not material. The following table presents the various components of lease costs: Three Months Ended February 28, 2021 February 29, 2020 Operating lease cost $ 51,441 $ 60,238 Short-term least cost 3,708 3,281 Variable lease cost 10,120 12,504 Sublease income (472) (46) Total operating lease cost $ 64,797 $ 75,977 The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five years and thereafter as of February 28, 2021: Fiscal Years Ending November 30, 2021 (remaining nine months) $ 142,700 2022 160,550 2023 118,381 2024 84,892 2025 52,289 Thereafter 30,881 Total payments 589,693 Less: imputed interest* 57,345 Total present value of lease payments $ 532,348 *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 February 28, 2021 November 30, 2020 Operating lease ROU assets Other assets, net $ 501,902 $ 506,368 Current operating lease liabilities Other accrued liabilities 160,197 163,052 Non-current operating lease liabilities Other long-term liabilities 372,151 373,644 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: Three Months Ended February 28, 2021 February 29, 2020 Cash paid for amounts included in the measurement of lease liabilities $ 54,004 $ 50,512 Non-cash ROU assets obtained in exchange for lease liabilities 14,873 29,135 The weighted-average remaining lease term and discount rate as of February 28, 2021 and November 30, 2020 were as follows: As of February 28, 2021 November 30, 2020 Weighted-average remaining lease term (years) 3.86 3.97 Weighted-average discount rate 6.14 % 6.97 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Feb. 28, 2021
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 ultimate liabilities could differ from the amounts recorded. Under the separation and distribution agreement with SYNNEX, the Company agreed to indemnify 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 SYNNEX, if the spin-off fails to qualify for tax-free treatment, the Company is generally required to indemnify 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 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)	3 Months Ended
	Feb. 28, 2021
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, 2020 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, 2020. 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, 2020. Prior to the spin-off on December 1, 2020 Prior to the spin-off, the CX business was held entirely within certain wholly-owned subsidiaries of SYNNEX dedicated to the CX business. As the separate legal entities that made up the CX business were not historically held by a single legal entity, the financial statements of the Company were prepared in connection with the expected separation and were derived from the SYNNEX consolidated financial statements and accounting records as if the Company had been operated on a stand-alone basis during the periods presented. Accordingly, for periods prior to December 1, 2020, the Company’s financial statements are presented on a combined basis and for the periods subsequent to December 1, 2020, they are presented on a consolidated basis (all periods hereinafter are referred to as “consolidated financial statements”). All direct revenue and expenses attributable to the CX business, including certain allocations of former parent costs and expenses, were separately maintained in a separate ledger in the legal entities that made up the CX business. As the separate legal entities that made up the CX business were not historically held by a single legal entity, former parent company investment was shown in lieu of stockholders’ equity in the prior period. All significant intercompany balances and transactions between the legal entities that comprised the CX business were eliminated. Management of the Company and the former parent considered allocations of former parent costs to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Company. The allocations may not, however, have reflected the expense the Company would have incurred as a stand-alone company for those periods presented. Actual costs that may have been incurred if the Company had been a stand-alone company would depend on a number of factors, including the chosen organizational structure, what functions were outsourced or performed by employees and other strategic decisions. Prior to the spin-off, certain Concentrix legal entities in the United States jointly and severally guaranteed certain of SYNNEX’ borrowing arrangements and substantially all of the assets of these Concentrix legal entities secured SYNNEX' obligations under the borrowing arrangements. Historically, Concentrix received or provided funding for acquisitions or ongoing operations as part of SYNNEX’ centralized treasury program. Accordingly, only cash amounts specifically recorded in the separate Concentrix ledger were reflected in the balance sheets. The Company reflected transfers of the cash from the former parent’s cash management system as loans or other accounts payable to the former parent or a reduction of accounts or loans receivable in the balance sheets based on the purpose for which the cash was provided by the former parent. Similarly, cash transfers to the former parent were reflected as reductions of loans or other accounts payable to the former parent or as loans receivable from the former parent. The cash payments and receipts were recorded in the statements of cash flows as operating or financing activities based on the nature of the transactions for which the funds were transferred between the Company and the former parent.
Reclassifications	Reclassifications Certain amounts in the consolidated financial statements related to prior period have been reclassified to conform to the current period's presentation.
Risks and uncertainties related to the COVID-19 pandemic	Risks and uncertainties related to the COVID-19 pandemic In December 2019, there was an outbreak of a new strain of coronavirus (“COVID-19”). In March 2020, the World Health Organization declared the COVID-19 outbreak a 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 our sites to protect the health and safety of employees. During the first quarter of 2021, almost all of the Company's workforce was productive. The Company incurred incremental costs of approximately $10 million associated with COVID-19 during the first quarter of 2021. The Company is unable to predict how long the pandemic conditions will persist in the regions in which the Company operates, what additional measures may be introduced by governments or the Company’s clients and the effect of any such additional measures on the Company’s business. As a result, many of the estimates and assumptions used in preparation of these consolidated financial statements required increased judgment and carry a
Concentration of credit risk	Concentration of credit risk For the three months ended February 28, 2021, one client accounted for 11.9% of the Company’s consolidated revenue. For the three months ended February 29, 2020, no client accounted for more than 10% of the Company's consolidated revenue.
Recently adopted accounting pronouncements and Recently issued accounting pronouncements	Recently adopted accounting pronouncements In June 2016, the Financial Accounting Standards Board (the “FASB”) issued a new credit loss standard that replaces the current incurred loss impairment model with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. This standard became effective for the Company's fiscal year beginning December 1, 2020. The adoption did not have a material impact on the consolidated financial statements. Recently issued accounting pronouncements In March 2020, the FASB issued optional guidance for a limited time to ease the potential burden in accounting for or recognizing the effects of reference rate reform, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”) on financial reporting. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments are elective and are effective upon issuance for all entities through December 31, 2022. The Company is currently evaluating the impact of the new guidance. In December 2019, 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. Certain amendments should be applied prospectively, while other amendments should be applied retrospectively to all periods presented. The Company is currently evaluating the impact of the new guidance.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Feb. 28, 2021
Business Combinations [Abstract]
Liability for Restructuring Charges related to Acquisition	The following table presents the activity related to liability for restructuring charges related to the Convergys acquisition through February 28, 2021 and February 29, 2020: Restructuring costs Severance and benefits Facility and exit costs Total Accrued balance as of November 30, 2019 $ 2,828 $ 14,164 $ 16,992 Additional (release of) accrual during the period 436 (11,734) (11,298) Cash payments (1,511) (1,309) (2,820) Accrued balance as of February 29, 2020 $ 1,753 $ 1,121 $ 2,874 Accrued balance as of November 30, 2020 $ — $ 17,810 $ 17,810 Cash payments — (2,004) (2,004) Accrued balance as of February 28, 2021 $ — $ 15,806 $ 15,806

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Feb. 28, 2021
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 months ended February 28, 2021 and February 29, 2020 as follows: Three Months Ended February 28, 2021 February 29, 2020 Total share-based compensation $ 7,118 $ 4,262 Tax benefit recorded in the provision for income taxes (1,780) (1,066) Effect on net income $ 5,338 $ 3,196

BALANCE SHEET COMPONENTS (Table

BALANCE SHEET COMPONENTS (Tables)	3 Months Ended
	Feb. 28, 2021
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 February 28, 2021 November 30, 2020 Cash and cash equivalents $ 117,576 $ 152,656 Restricted cash included in other current assets 1,620 3,695 Cash, cash equivalents and restricted cash $ 119,196 $ 156,351
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 February 28, 2021 November 30, 2020 Cash and cash equivalents $ 117,576 $ 152,656 Restricted cash included in other current assets 1,620 3,695 Cash, cash equivalents and restricted cash $ 119,196 $ 156,351
Schedule of Accounts Receivable	Accounts receivable, net is comprised of the following: As of February 28, 2021 November 30, 2020 Billed accounts receivable $ 695,824 $ 644,789 Unbilled accounts receivable 439,423 445,655 Less: Allowance for doubtful accounts (6,239) (8,963) Accounts receivable, net $ 1,129,008 $ 1,081,481
Schedule of Allowance for Doubtful Trade Receivables	Presented below is a progression of the allowance for doubtful trade receivables: Balances at November 30, 2019 $ 6,055 Net additions 1,501 Write-offs and reclassifications (603) Balances at February 29, 2020 $ 6,953 Balances at November 30, 2020 $ 8,963 Net reductions (2,554) Write-offs and reclassifications (170) Balances at February 28, 2021 $ 6,239
Property, Plant and Equipment	The following tables summarize the carrying amounts and related accumulated depreciation for property and equipment as of February 28, 2021 and November 30, 2020: As of February 28, 2021 November 30, 2020 Land $ 28,705 $ 29,000 Equipment, computers and software 493,725 476,243 Furniture and fixtures 91,484 90,944 Buildings, building improvements and leasehold improvements 350,071 336,194 Construction-in-progress 4,408 10,115 Total property and equipment, gross $ 968,393 $ 942,496 Less: Accumulated depreciation (523,107) (490,847) Property and equipment, net $ 445,286 $ 451,649 Shown below are countries where 10% or more of the Company’s property and equipment, net are located: As of February 28, 2021 November 30, 2020 Property and equipment, net: United States $ 143,857 $ 149,903 Philippines 90,402 87,686 India 45,042 46,642 Others 165,985 167,418 Total $ 445,286 $ 451,649
Schedule of Goodwill	The following table summarizes the changes in the Company’s goodwill for the period ended February 28, 2021: Balance as of November 30, 2020 $ 1,836,050 Foreign exchange translation 1,871 Balance as of February 28, 2021 $ 1,837,921
Schedule of Intangible Assets	The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of February 28, 2021 and November 30, 2020: As of February 28, 2021 As of November 30, 2020 Gross Accumulated amortization Net amounts Gross Accumulated amortization Net amounts Customer relationships $ 1,399,728 $ (634,652) $ 765,076 $ 1,389,341 $ (595,024) $ 794,317 Technology 14,886 (11,578) 3,308 14,830 (11,045) 3,785 Trade names 6,974 (6,209) 765 6,846 (5,989) 857 $ 1,421,588 $ (652,439) $ 769,149 $ 1,411,017 $ (612,058) $ 798,959
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, 2021 (remaining 9 months) $ 103,241 2022 117,329 2023 102,876 2024 85,061 2025 74,969 Thereafter 285,673 Total $ 769,149
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows: Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balances at November 30, 2019 $ (29,940) $ 17,523 $ (37,665) $ (50,082) Other comprehensive income (loss) before reclassification 18 (1,763) (12,263) (14,008) Reclassification of (gains) losses from other comprehensive income (loss) — (4,972) — (4,972) Balances at February 29, 2020 $ (29,922) $ 10,788 $ (49,928) $ (69,062) Balances at November 30, 2020 $ (38,584) $ 29,239 $ 5,531 $ (3,814) Other comprehensive income (loss) before reclassification (376) (7,070) 6,306 (1,140) Reclassification of (gains) losses from other comprehensive income (loss) — (9,171) — (9,171) Balances at February 28, 2021 $ (38,960) $ 12,998 $ 11,837 $ (14,125)

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Feb. 28, 2021
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: As of Balance Sheet Line Item February 28, 2021 November 30, 2020 Derivative instruments not designated as hedging instruments: Foreign exchange forward contracts (notional value) $ 1,300,604 $ 1,153,352 Other current assets 5,726 15,666 Other accrued liabilities 14,493 6,215 Derivative instruments designated as cash flow hedges: Foreign exchange forward contracts (notional value) $ 790,537 $ 814,731 Other current assets and other assets 20,797 38,212 Other accrued liabilities and other long-term liabilities 3,561 309
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: Locations of gain (loss) in income For the three months ended February 28, 2021 February 29, 2020 Derivative instruments designated as cash flow hedges Losses recognized in OCI: Foreign exchange forward contracts $ (9,325) $ (2,350) Gains reclassified from AOCI into income: Foreign exchange forward contracts Gain reclassified from AOCI into income Cost of revenue for services $ 8,835 $ 4,606 Gain reclassified from AOCI into income Selling, general and administrative expenses 3,358 2,019 Total $ 12,193 $ 6,625 Derivative instruments not designated as hedging instruments: Loss recognized from foreign exchange forward contracts, net (1) $ (2,767) $ (224)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Feb. 28, 2021
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 February 28, 2021 As of November 30, 2020 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 $ 58,650 58,650 — — $ 60,242 60,242 — — Foreign government bond $ 1,577 1,577 — — $ 1,355 1,355 — — Forward foreign currency exchange contracts $ 26,523 — 26,523 — $ 53,878 — 53,878 — Liabilities: Forward foreign currency exchange contracts $ 18,055 — 18,055 — $ 6,524 — 6,524 —

BORROWINGS (Tables)

BORROWINGS (Tables)	3 Months Ended
	Feb. 28, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings consist of the following: As of February 28, 2021 November 30, 2020 Credit Facility - current portion of Term Loan component $ — $ 33,750 Borrowings, current $ — $ 33,750 Credit Facility - Term Loan component $ 850,000 $ 866,250 Securitization Facility 267,500 250,000 Long-term debt, before unamortized debt discount and issuance costs 1,117,500 1,116,250 Less: unamortized debt discount and issuance costs (4,282) (4,888) Long-term debt, net $ 1,113,218 $ 1,111,362

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Feb. 28, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended February 28, 2021 February 29, 2020 Basic earnings per common share: Net income $ 88,811 $ 52,317 Less: net income allocated to participating securities (1) (1,060) — Net income attributable to common stockholders $ 87,751 $ 52,317 Weighted-average number of common shares - basic 51,155 51,602 Basic earnings per share $ 1.72 $ 1.01 Diluted earnings per common share: Net income $ 88,811 $ 52,317 Less: net income allocated to participating securities (1) (1,047) — Net income attributable to common stockholders $ 87,764 $ 52,317 Weighted-average number of common shares - basic 51,155 51,602 Effect of dilutive securities: Stock options and restricted stock units 650 — Weighted-average number of common shares - diluted 51,805 51,602 Diluted earnings per common share $ 1.69 $ 1.01 (1) Restricted stock awards granted to employees by the Company are considered participating securities.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Feb. 28, 2021
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 February 28, 2021 February 29, 2020 Industry vertical: Technology and consumer electronics $ 412,818 $ 323,913 Communications and media 248,790 263,564 Retail, travel and ecommerce 239,001 198,914 Banking, financial services and insurance 209,084 192,703 Healthcare 125,224 97,325 Other 118,361 112,201 Total $ 1,353,278 $ 1,188,619

TRANSACTIONS WITH FORMER PARE_2

TRANSACTIONS WITH FORMER PARENT (Tables)	3 Months Ended
	Feb. 28, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents the Company's related party transactions with SYNNEX for the three months ended February 29, 2020: Three months ended February 29, 2020 Revenue from customer experience services to former parent $ 5,446 Interest expense on borrowings from former parent 18,363 Interest income on borrowings made to former parent 599 Corporate allocations 394 Share-based compensation 4,262

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Feb. 28, 2021
Leases [Abstract]
Schedule of Lease Cost	The following table presents the various components of lease costs: Three Months Ended February 28, 2021 February 29, 2020 Operating lease cost $ 51,441 $ 60,238 Short-term least cost 3,708 3,281 Variable lease cost 10,120 12,504 Sublease income (472) (46) Total operating lease cost $ 64,797 $ 75,977 The weighted-average remaining lease term and discount rate as of February 28, 2021 and November 30, 2020 were as follows: As of February 28, 2021 November 30, 2020 Weighted-average remaining lease term (years) 3.86 3.97 Weighted-average discount rate 6.14 % 6.97 %
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 years and thereafter as of February 28, 2021: Fiscal Years Ending November 30, 2021 (remaining nine months) $ 142,700 2022 160,550 2023 118,381 2024 84,892 2025 52,289 Thereafter 30,881 Total payments 589,693 Less: imputed interest* 57,345 Total present value of lease payments $ 532,348
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 February 28, 2021 November 30, 2020 Operating lease ROU assets Other assets, net $ 501,902 $ 506,368 Current operating lease liabilities Other accrued liabilities 160,197 163,052 Non-current operating lease liabilities Other long-term liabilities 372,151 373,644
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: Three Months Ended February 28, 2021 February 29, 2020 Cash paid for amounts included in the measurement of lease liabilities $ 54,004 $ 50,512 Non-cash ROU assets obtained in exchange for lease liabilities 14,873 29,135

BACKGROUND AND BASIS OF PRESE_2

BACKGROUND AND BASIS OF PRESENTATION (Details) $ in Millions	Dec. 01, 2020	Feb. 28, 2021USD ($)market
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Primary industry verticals | market		5
Share ratio, received from distribution	1
Costs associated with COVID-19 | $		$ 10

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Customer Concentration Risk - One Client	3 Months Ended	12 Months Ended
	Feb. 28, 2021	Nov. 30, 2020
Revenue
Concentration Risk [Line Items]
Concentration risk percentage	11.90%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	13.90%	16.20%

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - Convergys - USD ($) $ in Thousands	Oct. 05, 2018	Feb. 29, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Percentage of business acquired	100.00%
Purchase price	$ 2,269,527
Acquisition-related and integration expenses		$ 15,352

ACQUISITIONS - Liability for Re

ACQUISITIONS - Liability for Restructuring Charges (Details) - Convergys - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Restructuring Reserve [Roll Forward]
Beginning balance	$ 17,810	$ 16,992
Additional (release of) accrual during the period		(11,298)
Cash payments	(2,004)	(2,820)
Ending balance	15,806	2,874
Employee Severance
Restructuring Reserve [Roll Forward]
Beginning balance	0	2,828
Additional (release of) accrual during the period		436
Cash payments	0	(1,511)
Ending balance	0	1,753
Facility Closing
Restructuring Reserve [Roll Forward]
Beginning balance	17,810	14,164
Additional (release of) accrual during the period		(11,734)
Cash payments	(2,004)	(1,309)
Ending balance	$ 15,806	$ 1,121

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - shares	Jan. 20, 2021	Dec. 01, 2020	Nov. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)			4,000,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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 issued (in shares)		827,000
Stock granted (in shares)	431,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued (in shares)		684,000
Stock granted (in shares)	26,000

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Share-based Payment Arrangement [Abstract]
Total share-based compensation	$ 7,118	$ 4,262
Tax benefit recorded in the provision for income taxes	(1,780)	(1,066)
Effect on net income	$ 5,338	$ 3,196

BALANCE SHEET COMPONENTS - Cash

BALANCE SHEET COMPONENTS - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020	Feb. 29, 2020	Nov. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Cash and cash equivalents	$ 117,576	$ 152,656
Restricted cash included in other current assets	1,620	3,695
Cash, cash equivalents and restricted cash	$ 119,196	$ 156,351	$ 86,839	$ 83,514

BALANCE SHEET COMPONENTS - Acco

BALANCE SHEET COMPONENTS - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020	Feb. 29, 2020	Nov. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for doubtful accounts	$ (6,239)	$ (8,963)	$ (6,953)	$ (6,055)
Accounts receivable, net	1,129,008	1,081,481
Billed accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	695,824	644,789
Unbilled accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 439,423	$ 445,655

BALANCE SHEET COMPONENTS - Allo

BALANCE SHEET COMPONENTS - Allowance for Doubtful Trade Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Balance Sheet Related Disclosures [Abstract]
Beginning Balance	$ 8,963	$ 6,055
Net additions (reductions)	(2,554)	1,501
Write-offs and reclassifications	(170)	(603)
Ending Balance	$ 6,239	$ 6,953

BALANCE SHEET COMPONENTS - Prop

BALANCE SHEET COMPONENTS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 968,393	$ 942,496
Less: Accumulated depreciation	(523,107)	(490,847)
Property and equipment, net	445,286	451,649
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	143,857	149,903
Philippines
Property, Plant and Equipment [Line Items]
Property and equipment, net	90,402	87,686
India
Property, Plant and Equipment [Line Items]
Property and equipment, net	45,042	46,642
Other
Property, Plant and Equipment [Line Items]
Property and equipment, net	165,985	167,418
Land
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	28,705	29,000
Equipment, computers and software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	493,725	476,243
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	91,484	90,944
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	350,071	336,194
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 4,408	$ 10,115

BALANCE SHEET COMPONENTS - Good

BALANCE SHEET COMPONENTS - Goodwill (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 1,836,050
Foreign exchange translation	1,871
Goodwill, Ending Balance	$ 1,837,921

BALANCE SHEET COMPONENTS - Inta

BALANCE SHEET COMPONENTS - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Gross amounts	$ 1,421,588	$ 1,411,017
Accumulated amortization	(652,439)	(612,058)
Total	769,149	798,959
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross amounts	1,399,728	1,389,341
Accumulated amortization	(634,652)	(595,024)
Total	765,076	794,317
Technology
Finite-Lived Intangible Assets [Line Items]
Gross amounts	14,886	14,830
Accumulated amortization	(11,578)	(11,045)
Total	3,308	3,785
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross amounts	6,974	6,846
Accumulated amortization	(6,209)	(5,989)
Total	$ 765	$ 857

BALANCE SHEET COMPONENTS - Esti

BALANCE SHEET COMPONENTS - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Balance Sheet Related Disclosures [Abstract]
2021, remainder of year	$ 103,241
2022	117,329
2023	102,876
2024	85,061
2025	74,969
Thereafter	285,673
Total	$ 769,149	$ 798,959

BALANCE SHEET COMPONENTS - Accu

BALANCE SHEET COMPONENTS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 2,302,085	$ 1,469,841
Other comprehensive income (loss) before reclassification	(1,140)	(14,008)
Reclassification of (gains) losses from other comprehensive income (loss)	(9,171)	(4,972)
Ending Balance	2,389,278	1,509,122
Unrecognized gains (losses) on defined benefit plan, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(38,584)	(29,940)
Other comprehensive income (loss) before reclassification	(376)	18
Reclassification of (gains) losses from other comprehensive income (loss)	0	0
Ending Balance	(38,960)	(29,922)
Unrealized gains (losses) on cash flow hedges, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	29,239	17,523
Other comprehensive income (loss) before reclassification	(7,070)	(1,763)
Reclassification of (gains) losses from other comprehensive income (loss)	(9,171)	(4,972)
Ending Balance	12,998	10,788
Foreign currency translation adjustments, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	5,531	(37,665)
Other comprehensive income (loss) before reclassification	6,306	(12,263)
Reclassification of (gains) losses from other comprehensive income (loss)	0	0
Ending Balance	11,837	(49,928)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(3,814)	(50,082)
Ending Balance	$ (14,125)	$ (69,062)

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Value of Derivative Instruments in the Consolidated Balance Sheets (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Not Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	$ 1,300,604	$ 1,153,352
Derivative instruments designated as cash flow hedges:
Notional value	1,300,604	1,153,352
Not Designated as Hedging Instrument | Other current assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	5,726	15,666
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	5,726	15,666
Not Designated as Hedging Instrument | Other accrued liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	14,493	6,215
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	14,493	6,215
Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	790,537	814,731
Derivative instruments designated as cash flow hedges:
Notional value	790,537	814,731
Designated as Hedging Instrument | Other current assets and other assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	20,797	38,212
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	20,797	38,212
Designated as Hedging Instrument | Other accrued liabilities and other long-term liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	3,561	309
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	$ 3,561	$ 309

DERIVATIVE INSTRUMENTS - Effect

DERIVATIVE INSTRUMENTS - Effect of Derivative Instruments on AOCI and the Consolidated Statements of Operations (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Designated as Hedging Instrument
Derivative [Line Items]
Gains (losses) recognized in OCI	$ (9,325)	$ (2,350)
Gains (losses) reclassified from AOCI into income	12,193	6,625
Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (loss) recognized from foreign exchange forward contracts, net	(2,767)	(224)
Cost of Sales | Designated as Hedging Instrument
Derivative [Line Items]
Gains (losses) reclassified from AOCI into income	8,835	4,606
Selling, General and Administrative Expenses | Designated as Hedging Instrument
Derivative [Line Items]
Gains (losses) reclassified from AOCI into income	$ 3,358	$ 2,019

DERIVATIVE INSTRUMENTS - Narrat

DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2021USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Existing gains expected to be reclassified	$ 17,768

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Assets:
Cash equivalents	$ 58,650	$ 60,242
Foreign government bond	1,577	1,355
Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	26,523	53,878
Liabilities:
Forward foreign currency exchange contracts	18,055	6,524
Level 1
Assets:
Cash equivalents	58,650	60,242
Foreign government bond	1,577	1,355
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	26,523	53,878
Liabilities:
Forward foreign currency exchange contracts	18,055	6,524
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	Feb. 28, 2021	Nov. 30, 2020
Debt Instrument [Line Items]
Borrowings, current	$ 0	$ 33,750
Long-term debt, before unamortized debt discount and issuance costs	1,117,500	1,116,250
Less: unamortized debt discount and issuance costs	(4,282)	(4,888)
Long-term debt, net	1,113,218	1,111,362
Securitization Facility
Debt Instrument [Line Items]
Credit Facility - Term Loan component	267,500	250,000
Senior Secured Credit Facility | Term Loan
Debt Instrument [Line Items]
Credit Facility - current portion of Term Loan component	0	33,750
Credit Facility - Term Loan component	$ 850,000	$ 866,250

BORROWINGS - Narrative (Details

BORROWINGS - Narrative (Details)	Mar. 31, 2021USD ($)	Oct. 30, 2020USD ($)	Oct. 16, 2020USD ($)	Feb. 28, 2021USD ($)	Feb. 29, 2020USD ($)	Nov. 30, 2020USD ($)
Debt Instrument [Line Items]
Principal payments				$ 50,000,000	$ 0
Securitization Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 350,000,000
Amount outstanding						$ 250,000,000
Securitization Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percent of unused portion				0.30%
Securitization Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percent of unused portion				0.375%
Securitization Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.15%
Securitization Facility | Commercial Paper Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.05%
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			$ 600,000,000
Amount outstanding				$ 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				$ 50,000,000
Senior Secured Credit Facility | Subsequent Event | Term Loan
Debt Instrument [Line Items]
Principal payments	$ 50,000,000
Senior Secured Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percent of unused portion				0.25%
Senior Secured Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percent of unused portion				0.45%
Senior Secured Credit Facility | LIBOR | LIBOR Rate Loans
Debt Instrument [Line Items]
Interest rate floor			0.25%
Senior Secured Credit Facility | LIBOR | Not LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Senior Secured Credit Facility | LIBOR | Minimum | LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1.25%
Senior Secured Credit Facility | LIBOR | Minimum | Not LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			0.25%
Senior Secured Credit Facility | LIBOR | Maximum | LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			2.25%
Senior Secured Credit Facility | LIBOR | Maximum | Not LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate			1.25%
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	Feb. 28, 2021	Dec. 01, 2020	Nov. 30, 2020
Earnings Per Share [Abstract]
Common stock, shares issued (in shares)	51,214,000	51,600,000	0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Basic earnings per common share:
Net income	$ 88,811	$ 52,317
Less: net income allocated to participating securities	(1,060)	0
Net income attributable to common stockholders	$ 87,751	$ 52,317
Weighted-average number of common shares - basic (in shares)	51,155	51,602
Basic earnings per share (in dollars per share)	$ 1.72	$ 1.01
Diluted earnings per common share:
Net income	$ 88,811	$ 52,317
Less: net income allocated to participating securities	(1,047)	0
Net income attributable to common stockholders	$ 87,764	$ 52,317
Weighted-average number of common shares - basic (in shares)	51,155	51,602
Effect of dilutive securities:
Stock options and restricted stock units	650	0
Weighted-average number of common shares - diluted (in shares)	51,805	51,602
Diluted earnings per common share (in dollars per share)	$ 1.69	$ 1.01

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 1,353,278	$ 1,188,619
Technology and consumer electronics
Disaggregation of Revenue [Line Items]
Revenue	412,818	323,913
Communications and media
Disaggregation of Revenue [Line Items]
Revenue	248,790	263,564
Retail, travel and ecommerce
Disaggregation of Revenue [Line Items]
Revenue	239,001	198,914
Banking, financial services and insurance
Disaggregation of Revenue [Line Items]
Revenue	209,084	192,703
Healthcare
Disaggregation of Revenue [Line Items]
Revenue	125,224	97,325
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 118,361	$ 112,201

TRANSACTIONS WITH FORMER PARE_3

TRANSACTIONS WITH FORMER PARENT (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Related Party Transaction [Line Items]
Revenue	$ 1,353,278	$ 1,188,619
Share-based compensation	$ 7,118	4,262
Former Parent
Related Party Transaction [Line Items]
Revenue		5,446
Interest expense on borrowings from former parent		18,363
Interest income on borrowings made to former parent		599
Corporate allocations		394
Share-based compensation		$ 4,262

PENSION AND EMPLOYEE BENEFITS_2

PENSION AND EMPLOYEE BENEFITS PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020	Nov. 30, 2020
Retirement Benefits [Abstract]
Contributed amount	$ 20,174	$ 15,476
Net benefit costs	3,311	$ 3,276
Plan underfunded amount	$ (126,968)		$ (134,399)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020	Nov. 30, 2020
Income Tax Contingency [Line Items]
Hypothetical current tax expense recorded for separate return basis presentation	$ 0	$ 1,753
Unrecognized tax benefits	63,664		$ 62,315
Unrecognized tax benefits that would affect income tax expense if recognized	56,222		54,910
Interest and penalties accrued on unrecognized tax benefits	13,558		$ 14,402
Minimum
Income Tax Contingency [Line Items]
Unrecognized tax benefits decrease amount	11,000
Maximum
Income Tax Contingency [Line Items]
Unrecognized tax benefits decrease amount	$ 28,000

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Leases [Abstract]
Operating lease cost	$ 51,441	$ 60,238
Short-term least cost	3,708	3,281
Variable lease cost	10,120	12,504
Sublease income	(472)	(46)
Total operating lease cost	$ 64,797	$ 75,977

LEASES - Operating Lease Liabil

LEASES - Operating Lease Liability Maturity (Details) $ in Thousands	Feb. 28, 2021USD ($)
Leases [Abstract]
2021 (remaining nine months)	$ 142,700
2022	160,550
2023	118,381
2024	84,892
2025	52,289
Thereafter	30,881
Total payments	589,693
Less: imputed interest	57,345
Total present value of lease payments	$ 532,348

LEASES - Operating Lease ROU As

LEASES - Operating Lease ROU Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Nov. 30, 2020
Leases [Abstract]
Operating lease ROU assets	$ 501,902	$ 506,368
Current operating lease liabilities	160,197	163,052
Non-current operating lease liabilities	$ 372,151	$ 373,644
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities

LEASES - Operating Lease Supple

LEASES - Operating Lease Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 54,004	$ 50,512
Non-cash ROU assets obtained in exchange for lease liabilities	$ 14,873	$ 29,135

LEASES - Operating Lease Weight

LEASES - Operating Lease Weighted Average Remaining Lease Term and Discount Rate (Details)	Feb. 28, 2021	Nov. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (years)	3 years 10 months 9 days	3 years 11 months 19 days
Weighted-average discount rate	6.14%	6.97%