Concentrix (CNXC) 10-Q 8 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	May 31, 2022	Jun. 30, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2022
Document Transition Report	false
Entity File Number	001-39494
Entity Registrant Name	CONCENTRIX CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1605762
Entity Address, Address Line One	39899 Balentine Drive
Entity Address, City or Town	Newark
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94560
City Area Code	800
Local Phone Number	747-0583
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CNXC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		52,044,544
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001803599
Current Fiscal Year End Date	--11-30

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Current assets:
Cash and cash equivalents	$ 163,364	$ 182,038
Accounts receivable, net	1,311,715	1,207,953
Other current assets	153,904	153,074
Total current assets	1,628,983	1,543,065
Property and equipment, net	401,716	407,144
Goodwill	2,925,679	1,813,502
Intangible assets, net	1,037,987	655,528
Deferred tax assets	53,104	48,413
Other assets	565,183	578,715
Total assets	6,612,652	5,046,367
Current liabilities:
Accounts payable	110,931	129,359
Current portion of long-term debt	105,000	0
Accrued compensation and benefits	437,516	453,434
Other accrued liabilities	346,204	351,642
Income taxes payable	23,371	33,779
Total current liabilities	1,023,022	968,214
Long-term debt, net	2,197,876	802,017
Other long-term liabilities	501,579	546,410
Deferred tax liabilities	164,073	109,471
Total liabilities	3,886,550	2,426,112
Commitments and contingencies (Note 14)
Redeemable non-controlling interest	2,157	0
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of May 31, 2022 and November 30, 2021, respectively	0	0
Common stock, $0.0001 par value, 250,000 shares authorized; 52,058 and 51,927 shares issued as of May 31, 2022 and November 30, 2021, respectively, and 51,342 and 51,594 shares outstanding as of May 31, 2022 and November 30, 2021, respectively	5	5
Additional paid-in capital	2,404,281	2,355,767
Treasury stock, 716 and 333 shares as of May 31, 2022 and November 30, 2021, respectively	(118,248)	(57,486)
Retained earnings	589,740	392,495
Accumulated other comprehensive loss	(151,833)	(70,526)
Total stockholders’ equity	2,723,945	2,620,255
Total liabilities, redeemable non-controlling interest, and stockholders’ equity	$ 6,612,652	$ 5,046,367

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 31, 2022	Nov. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	52,058,000	51,927,000
Common stock, shares outstanding (in shares)	51,342,000	51,594,000
Treasury stock (in shares)	716,000	333,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Statement [Abstract]
Revenue	$ 1,568,101	$ 1,369,878	$ 3,104,153	$ 2,723,156
Cost of revenue	1,009,185	887,149	2,007,103	1,754,377
Gross profit	558,916	482,729	1,097,050	968,779
Selling, general and administrative expenses	402,004	354,505	792,393	705,666
Operating income	156,912	128,224	304,657	263,113
Interest expense and finance charges, net	12,973	6,745	21,743	14,448
Other expense (income), net	(2,545)	(3,546)	(10,161)	257
Income before income taxes	146,484	125,025	293,075	248,408
Provision for income taxes	33,451	42,121	69,503	76,693
Net income before non-controlling interest	113,033	82,904	223,572	171,715
Less: Net income (loss) attributable to non-controlling interest	(109)	0	157	0
Net income attributable to Concentrix Corporation	$ 113,142	$ 82,904	$ 223,415	$ 171,715
Earnings per common share:
Basic (in dollars per share)	$ 2.16	$ 1.59	$ 4.27	$ 3.31
Diluted (in dollars per share)	$ 2.14	$ 1.57	$ 4.23	$ 3.26
Weighted-average common shares outstanding
Basic (in shares)	51,564	51,275	51,596	51,215
Diluted (in shares)	51,990	52,005	51,995	51,928

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 113,033	$ 82,904	$ 223,572	$ 171,715
Other comprehensive income (loss):
#REF!	(7)	(72)	766	(448)
#REF!	(12,944)	17,669	(15,704)	10,599
#REF!	3,138	(7,355)	2,465	(16,526)
Total change in unrealized gains (losses) on cash flow hedges, net of taxes	(9,806)	10,314	(13,239)	(5,927)
Foreign currency translation, net of taxes of $0 for the three and six months ended May 31, 2022 and 2021, respectively	(54,995)	35,433	(68,834)	41,739
Other comprehensive income (loss)	(64,808)	45,675	(81,307)	35,364
Comprehensive income	48,225	128,579	142,265	207,079
Less: Comprehensive income (loss) attributable to non-controlling interest	(109)	0	157	0
Comprehensive income attributable to Concentrix Corporation	$ 48,334	$ 128,579	$ 142,108	$ 207,079

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Statement of Comprehensive Income [Abstract]
Change in unrealized losses of defined benefit plans, tax	$ 0	$ 0	$ 0	$ 98
Unrealized gains (losses) on cash flow hedges, tax	(4,440)	6,048	5,387	(3,793)
Reclassification of net loss on cash flow hedges to net income, tax	(1,078)	2,518	(846)	5,540
Foreign currency translation gain (loss), tax	$ 0	$ 0	$ 0	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive loss	Former parent company investment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		0		0
Beginning Balance at Nov. 30, 2020	$ 2,302,085	$ 0	$ 0	$ 0	$ 0	$ (3,814)	$ 2,305,899
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	35,364					35,364
Less: Net income (loss) attributable to non-controlling interest	0
Share-based compensation activity (in shares)		161,000
Share-based compensation activity	21,131		21,131
Repurchase of common stock for tax withholdings on equity awards (in shares)				4,000
Repurchase of common stock for tax withholdings on equity awards	(527)			$ (527)
Reclassification of net former parent investment in Concentrix	0		2,305,899				(2,305,899)
Issuance of common stock at separation and spin-off (in shares)		51,135,000
Issuance of common stock at separation and spin-off	0	$ 5	(5)
Net income attributable to Concentrix Corporation	171,715				171,715
Ending Balance at May. 31, 2021	2,529,768	$ 5	2,327,025	$ (527)	171,715	31,550	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		51,214,000		4,000
Beginning Balance at Feb. 28, 2021	2,389,278	$ 5	2,314,996	$ (409)	88,811	(14,125)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	45,675					45,675
Less: Net income (loss) attributable to non-controlling interest	0
Share-based compensation activity (in shares)		82,000
Share-based compensation activity	12,029		12,029
Repurchase of common stock for tax withholdings on equity awards	(118)			(118)
Net income attributable to Concentrix Corporation	82,904				82,904
Ending Balance at May. 31, 2021	2,529,768	$ 5	2,327,025	$ (527)	171,715	31,550	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding (in shares)		51,296,000		4,000
Redeemable non-controlling interest	$ 0
Common stock, shares outstanding (in shares)	51,594,000	51,594,000		333,000
Beginning Balance at Nov. 30, 2021	$ 2,620,255	$ 5	2,355,767	$ (57,486)	392,495	(70,526)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(81,307)					(81,307)
Less: Net income (loss) attributable to non-controlling interest	157
Equity awards issued as acquisition purchase consideration	15,725		15,725
Acquisition of non-controlling interest in subsidiary	2,000
Share-based compensation activity (in shares)		(252,000)
Share-based compensation activity	32,789		32,789
Repurchase of common stock for tax withholdings on equity awards (in shares)				16,000
Repurchase of common stock for tax withholdings on equity awards	(2,912)			$ (2,912)
Repurchase of common stock (in shares)				367,000
Repurchase of common stock for tax withholdings on equity awards	(57,850)			$ (57,850)
Dividends	(26,170)				(26,170)
Net income attributable to Concentrix Corporation	223,415				223,415
Ending Balance at May. 31, 2022	2,723,945	$ 5	2,404,281	$ (118,248)	589,740	(151,833)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redeemable non-controlling interest	2,266
Common stock, shares outstanding (in shares)		51,664,000		348,000
Beginning Balance at Feb. 28, 2022	2,731,999	$ 5	2,389,403	$ (60,040)	489,656	(87,025)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(64,808)					(64,808)
Less: Net income (loss) attributable to non-controlling interest	(109)
Share-based compensation activity (in shares)		(322,000)
Share-based compensation activity	14,878		14,878
Repurchase of common stock for tax withholdings on equity awards (in shares)				1,000
Repurchase of common stock for tax withholdings on equity awards	(358)			$ (358)
Repurchase of common stock (in shares)				367,000
Repurchase of common stock for tax withholdings on equity awards	(57,850)			$ (57,850)
Dividends	(13,058)				(13,058)
Net income attributable to Concentrix Corporation	113,142				113,142
Ending Balance at May. 31, 2022	2,723,945	$ 5	$ 2,404,281	$ (118,248)	$ 589,740	$ (151,833)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redeemable non-controlling interest	$ 2,157
Common stock, shares outstanding (in shares)	51,342,000	51,342,000		716,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	May 31, 2022	May 31, 2021
Cash flows from operating activities:
Net income before non-controlling interest	$ 223,572	$ 171,715
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	73,174	72,225
Amortization	79,525	69,199
Non-cash share-based compensation expense	27,590	15,690
Provision for doubtful accounts	4,422	(2,132)
Deferred income taxes	963	(4,764)
Unrealized foreign exchange loss	470	3,240
Other	(107)	142
Changes in operating assets and liabilities:
Accounts receivable, net	(17,039)	(10,896)
Payable to former parent	0	(22,825)
Accounts payable	(17,777)	(15,033)
Other operating assets and liabilities	(162,309)	(37,446)
Net cash provided by operating activities	212,484	239,115
Cash flows from investing activities:
Purchases of property and equipment	(71,166)	(70,758)
Acquisitions of business, net of cash acquired	(1,565,252)	(3,015)
Other investments	(1,000)	0
Net cash used in investing activities	(1,637,418)	(73,773)
Cash flows from financing activities:
Proceeds from the Credit Facility - Term Loan	2,100,000	(200,000)
Repayments of the Credit Facility - Prior Term Loan	(700,000)	0
Proceeds from the Securitization Facility	848,500	768,500
Repayments of the Securitization Facility	(742,500)	(756,000)
Cash paid for debt issuance costs	(8,863)	0
Proceeds from exercise of stock options	5,200	5,441
Repurchase of common stock for tax withholdings on equity awards	(2,912)	(527)
Repurchase of common stock	(57,850)	0
Dividends paid	(26,170)	0
Net cash provided by (used in) financing activities	1,415,405	(182,586)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(9,382)	(6,626)
Net decrease in cash, cash equivalents and restricted cash	(18,911)	(23,870)
Cash, cash equivalents and restricted cash at beginning of year	183,010	156,351
Cash, cash equivalents and restricted cash at end of period	164,099	132,481
Supplemental disclosure of non-cash investing activities:
Accrued costs for property and equipment purchases	$ 4,907	$ 6,037

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	6 Months Ended
	May 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	BACKGROUND AND BASIS OF PRESENTATION: Background Concentrix Corporation (“Concentrix,” the “CX business” or the “Company”) is a leading global provider of Customer Experience (“CX”) solutions and technology that help iconic and disruptive brands drive deep understanding, full lifecycle engagement, and differentiated experiences for their end-customers around the world. The Company provides end-to-end capabilities, including CX process optimization, technology innovation and design engineering, front- and back-office automation, analytics and business transformation services to clients in five primary industry verticals. The Company’s primary verticals are technology and consumer electronics, communications and media, retail, travel and e-commerce, banking, financial services and insurance, and healthcare. On December 1, 2020, the separation of the CX business (the “separation”) from SYNNEX Corporation, now known as TD SYNNEX Corporation (“TD SYNNEX” or the “former parent”) was completed through a tax-free distribution of all of the issued and outstanding shares of the Company’s common stock to TD SYNNEX stockholders (the “distribution” and, together with the separation, the “spin-off”). TD SYNNEX stockholders received one share of the Company’s common stock for each share of TD SYNNEX common stock held as of the close of business on November 17, 2020. As a result of the spin-off, the Company became an independent public company and the Company’s common stock commenced trading on the Nasdaq Stock Market (“Nasdaq”) under the symbol “CNXC” on December 1, 2020. Basis of presentation The accompanying interim unaudited consolidated financial statements have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The amounts as of November 30, 2021 have been derived from the Company’s annual audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. These interim consolidated financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. All intercompany balances and transactions have been eliminated in consolidation. Risks and uncertainties related to the COVID-19 pandemic The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains and labor force participation, and created significant volatility and disruption of financial markets. The Company successfully transitioned a significant portion of its workforce to a remote working environment throughout the second quarter of 2020 and implemented a number of safety and social distancing measures in the Company’s sites to protect the health and safety of the team. During the three and six months ended May 31, 2022, almost all of the Company’s workforce was productive, but the Company experienced the continued effects of the COVID-19 pandemic, as variants caused new waves of COVID-19 cases around the globe. The extent of the continued impact of the COVID-19 pandemic on the Company’s operational and financial performance, including its ability to execute business strategies and initiatives in the expected time frame, will depend on future developments, including the duration, spread and severity of the pandemic, the evolution of the

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	May 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: For a discussion of the Company’s significant accounting policies, refer to the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. Accounting pronouncements adopted during the six months ended May 31, 2022 are discussed below. Concentration of credit risk For the three and six months ended May 31, 2022, no client accounted for more than 10% of the Company’s consolidated revenue. For the three and six months ended May 31, 2021, one client accounted for 11.2% and 11.5%, respectively, of the Company’s consolidated revenue. As of May 31, 2022 and November 30, 2021, one client comprised 10.4% and 15.3%, respectively, of the Company’s total accounts receivable balance. Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued new guidance that simplifies the accounting for income taxes. The guidance is effective for annual reporting periods beginning after December 15, 2020, and interim periods within those reporting periods. This standard became effective for the Company in fiscal year 2022 and did not have a material impact on the consolidated financial statements. Recently issued accounting pronouncements

ACQUISITION

ACQUISITION	6 Months Ended
	May 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITION	ACQUISITIONS: PK Acquisition Background On December 27, 2021, the Company completed its acquisition of PK, a leading CX design engineering company with more than 5,000 staff in four countries. PK creates pioneering experiences that accelerate digital outcomes for their clients’ customers, partners and staff. The acquisition of PK expanded the Company’s scale in the digital IT services market and supported the Company’s growth strategy of investing in digital transformation to deliver exceptional customer experiences. The addition of the PK staff and technology to the Company’s team further strengthened its capabilities in CX design and development, artificial intelligence (“AI”), intelligent automation, and customer loyalty. Purchase price consideration The total purchase price consideration, net of cash acquired, was $1,581.0 million, which was funded by proceeds from the Company’s new term loan (the “Term Loan”) under its amended senior secured credit facility (the “Credit Facility”) and additional borrowings under its accounts receivable securitization facility (the “Securitization Facility”). See Note 8 — Borrowings for a further discussion of the Term Loan, the Credit Facility and the Securitization Facility. The preliminary purchase price consideration to acquire PK consisted of the following: Cash consideration for PK stock (1) $ 1,177,342 Cash consideration for PK vested equity awards (2) 246,229 Cash consideration for repayment of PK debt, including accrued interest (3) 148,492 Cash consideration for transaction expenses of PK (4) 22,842 Total cash consideration 1,594,905 Non-cash equity consideration for conversion of PK equity awards (5) 15,725 Total consideration transferred 1,610,630 Less: Cash acquired (6) 29,653 Total purchase price consideration $ 1,580,977 (1) Represents the cash consideration paid for the outstanding shares of PK’s common stock, which includes the final settlement of the merger consideration adjustment paid pursuant to the merger agreement. (2) Represents the cash consideration paid for vested PK stock option awards and restricted stock awards. (3) Represents the cash consideration paid to retire PK’s outstanding third-party debt, including accrued interest. (4) Represents the cash consideration paid for expenses incurred by PK in connection with the merger and paid by Concentrix pursuant to the merger agreement. These expenses primarily related to third-party consulting services. (5) Represents the issuance of vested Concentrix stock options that were issued in conversion of certain vested PK stock options that were assumed by Concentrix pursuant to the merger agreement. (6) Represents the PK cash balance acquired at acquisition. Preliminary purchase price allocation The acquisition was accounted for as a business combination in accordance with Accounting Standards Codification Topic 805, Business Combinations . The purchase price was allocated to the assets acquired, liabilities assumed and non-controlling interest based on management’s estimate of the respective fair values at the date of acquisition. Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The factors contributing to the recognition of goodwill were the assembled workforce, comprehensive service portfolio delivery capabilities and strategic benefits that are expected to be realized from the acquisition. None of the goodwill is expected to be deductible for income tax purposes. The following table summarizes the preliminary estimates of fair values of the assets acquired, liabilities assumed and non-controlling interest as of the acquisition date: As of December 27, 2021 Assets acquired: Cash and cash equivalents $ 29,653 Accounts receivable 86,955 Property and equipment 11,198 Operating lease right-of-use assets 12,288 Identifiable intangible assets 469,300 Goodwill 1,126,111 Other assets 11,954 Total assets acquired $ 1,747,459 Liabilities assumed and non-controlling interest: Accounts payable and accrued liabilities 68,438 Operating lease liabilities 12,288 Deferred tax liabilities 54,103 Non-controlling interest 2,000 Total liabilities assumed and non-controlling interest $ 136,829 Total consideration transferred $ 1,610,630 As of May 31, 2022, the purchase price allocation is preliminary. The preliminary purchase price allocation was based upon a preliminary valuation, and the Company’s estimates and assumptions are subject to change within the measurement period (not to exceed twelve months following the acquisition date). The primary areas of the preliminary purchase price allocation that are not yet finalized relate to the valuation of identifiable intangible assets acquired, the fair value of certain tangible assets acquired and liabilities assumed, and deferred income taxes. The Company expects to continue to obtain information for the purpose of determining the fair value of the assets acquired and liabilities assumed on the acquisition date throughout the remainder of the measurement period. The Company made immaterial measurement period adjustments during the second quarter of fiscal year 2022. The preliminary purchase price allocation includes $469.3 million of acquired identifiable intangible assets, all of which have finite lives. The preliminary fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis of certain cash flow projections. The cash flow projections are based on forecasts used by the Company to price the PK acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. The intangible assets are being amortized over their estimated useful lives on either a straight-line basis or an accelerated method that reflects the economic benefit of the asset. The determination of the useful lives is based upon various industry studies, historical acquisition experience, economic factors, and future forecasted cash flows of the Company following the acquisition of PK. The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 398,600 15 years Technology 63,500 5 years Trade name 5,000 3 years Non-compete agreements 2,200 3 years Total $ 469,300 Impact on results of operations The results of the PK operations have been included in the consolidated financial statements since December 27, 2021. The following table provides the results of operations for PK included in the consolidated statement of operations from the acquisition date through May 31, 2022: Three Months Ended Six Months Ended May 31, 2022 May 31, 2022 Revenue $ 123,963 $ 207,159 Income before income taxes 2,773 2,980 In connection with the acquisition of PK, the Company incurred a total of $1.7 million and $2.6 million of acquisition-related and integration expenses for the three and six months ended May 31, 2022, respectively. These expenses primarily include legal and professional services, and severance and retention payments to integrate the business. These acquisition-related and integration expenses were recorded within selling, general and administrative expenses in the consolidated statement of operations. Supplemental Pro Forma Information The supplemental pro forma financial information presented below is for illustrative purposes only, does not include the pro forma adjustments that would be required under Regulation S-X for pro forma financial information, is not necessarily indicative of the financial position or results of operations that would have been realized if the PK acquisition had been completed on the date indicated, does not reflect synergies that might have been achieved, nor is it indicative of future operating results or financial position. The pro forma adjustments are based upon currently available information and certain assumptions that we believe are reasonable under the circumstances. The supplemental pro forma financial information reflects pro forma adjustments to present the combined pro forma results of operations as if the PK acquisition had occurred on December 1, 2020 to give effect to certain events that the Company believes to be directly attributable to the PK acquisition. These pro forma adjustments primarily include: • An increase in amortization expense that would have been recognized due to acquired identifiable intangible assets. • An adjustment to interest expense to reflect the additional borrowings of Concentrix on the amended credit facility and the repayment of PK’s historical debt in conjunction with the acquisition. • The related income tax effects of the adjustments noted above. The supplemental pro forma financial information for the periods presented is as follows: Three Months Ended Six Months Ended May 31, May 31, 2022 2021 2022 2021 Revenue $ 1,568,101 $ 1,479,640 $ 3,137,114 $ 2,928,392 Net income 113,438 81,618 219,789 165,853 ServiceSource Pending Acquisition In May 2022, the Company announced a definitive agreement to acquire ServiceSource International, Inc. (“ServiceSource”), a global market leader in B2B digital sales, for $1.50 per share in an all-cash transaction valued at approximately $131 million, inclusive of ServiceSource’s net cash. ServiceSource is a global outsourced go-to-market services provider, delivering B2B digital sales and customer success solutions that are expected to complement the Company’s existing offerings in this area. The transaction is expected to close in the second half of fiscal year 2022, subject to customary closing conditions, including approval by ServiceSource’s stockholders and regulatory requirements. ServiceSource has established a special meeting date of July 20, 2022 for its stockholders to consider approval of the transaction.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	May 31, 2022
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION: In November 2020, in connection with the spin-off, TD SYNNEX, as sole stockholder of Concentrix, approved the Concentrix Corporation 2020 Stock Incentive Plan (the “Concentrix Stock Incentive Plan”) and the Concentrix Corporation 2020 Employee Stock Purchase Plan (the “Concentrix ESPP”), each to be effective upon completion of the spin-off. 4,000 shares of Concentrix common stock were reserved for issuance under the Concentrix Stock Incentive Plan, and 1,000 shares of Concentrix common stock were authorized for issuance under the Concentrix ESPP. In December 2021, 523 additional shares of Concentrix common stock were reserved for issuance under the Concentrix Stock Incentive Plan resulting from an automatic annual increase pursuant to the terms of the plan. In January 2022, the Company granted 137 restricted stock awards and restricted stock units and 129 performance-based restricted stock units under the Concentrix Stock Incentive Plan, which included annual awards to the Company’s senior executive team and retention and new hire awards to staff who joined the Company as part of the PK acquisition. The restricted stock awards and restricted stock units awards had a weighted average grant date fair value of $181.09 per share and vest over a service period of four years. The performance-based restricted stock units will vest, if at all, upon the achievement of certain annual financial targets during the three-year period ending November 30, 2024. The performance-based restricted stock units had a grant date weighted average fair value of $178.58 per share. The Company recorded share-based compensation expense in the consolidated statements of operations for the three and six months ended May 31, 2022 and 2021 as follows: Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Total share-based compensation $ 12,647 $ 9,283 $ 27,816 $ 16,401 Tax benefit recorded in the provision for income taxes (3,212) (2,320) (7,064) (4,100) Effect on net income $ 9,435 $ 6,963 $ 20,752 $ 12,301

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS	6 Months Ended
	May 31, 2022
Balance Sheet Related Disclosures [Abstract]
BALANCE SHEET COMPONENTS	BALANCE SHEET COMPONENTS: Cash, cash equivalents and restricted cash: The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows: As of May 31, 2022 November 30, 2021 Cash and cash equivalents $ 163,364 $ 182,038 Restricted cash included in other current assets 735 972 Cash, cash equivalents and restricted cash $ 164,099 $ 183,010 Restricted cash balances relate primarily to restrictions placed on cash deposits by banks as collateral for the issuance of bank guarantees and the terms of government grants. Accounts receivable, net: Accounts receivable, net is comprised of the following as of May 31, 2022 and November 30, 2021: As of May 31, 2022 November 30, 2021 Billed accounts receivable $ 772,084 $ 714,032 Unbilled accounts receivable 546,625 499,342 Less: Allowance for doubtful accounts (6,994) (5,421) Accounts receivable, net $ 1,311,715 $ 1,207,953 Allowance for doubtful trade receivables: Presented below is a progression of the allowance for doubtful trade receivables: Three Months Ended Six Months Ended May 31, May 31, 2022 2021 2022 2021 Balance at beginning of period $ 6,904 $ 6,239 $ 5,421 $ 8,963 Net additions (reductions) 2,474 422 4,422 (2,132) Write-offs and reclassifications (2,384) (1,148) (2,849) (1,318) Balance at end of period $ 6,994 $ 5,513 $ 6,994 $ 5,513 Property and equipment, net: The following tables summarize the carrying amounts and related accumulated depreciation for property and equipment as of May 31, 2022 and November 30, 2021: As of May 31, 2022 November 30, 2021 Land $ 27,529 $ 27,677 Equipment, computers and software 516,033 488,270 Furniture and fixtures 90,122 90,442 Buildings, building improvements and leasehold improvements 369,519 364,166 Construction-in-progress 12,751 10,741 Total property and equipment, gross $ 1,015,954 $ 981,296 Less: Accumulated depreciation (614,238) (574,152) Property and equipment, net $ 401,716 $ 407,144 Shown below are the countries where 10% or more of the Company’s property and equipment, net are located as of May 31, 2022 and November 30, 2021: As of May 31, 2022 November 30, 2021 Property and equipment, net: United States $ 111,923 $ 101,333 Philippines 79,406 87,548 India 44,454 46,167 Others 165,933 172,096 Total $ 401,716 $ 407,144 Goodwill: The following table summarizes the changes in the Company’s goodwill for the six months ended May 31, 2022: Balance as of November 30, 2021 $ 1,813,502 Acquisition 1,126,111 Foreign exchange translation (13,934) Balance as of May 31, 2022 $ 2,925,679 Intangible assets, net: The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of May 31, 2022 and November 30, 2021: As of May 31, 2022 As of November 30, 2021 Gross amounts Accumulated amortization Net amounts Gross amounts Accumulated amortization Net amounts Customer relationships $ 1,727,681 $ (755,432) $ 972,249 $ 1,347,961 $ (694,701) $ 653,260 Technology 74,282 (14,802) 59,480 10,835 (8,900) 1,935 Trade names 11,667 (7,295) 4,372 6,724 (6,391) 333 Non-compete agreements 2,200 (314) 1,886 — — — $ 1,815,830 $ (777,843) $ 1,037,987 $ 1,365,520 $ (709,992) $ 655,528 Estimated future amortization expense of the Company’s intangible assets is as follows: Fiscal years ending November 30, 2022 (remaining six months) $ 82,532 2023 153,699 2024 139,964 2025 128,441 2026 112,922 Thereafter 420,429 Total $ 1,037,987 Accumulated other comprehensive income (loss): The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows: Three Months Ended May 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, February 28, 2021 $ (38,960) $ 12,998 $ 11,837 $ (14,125) Other comprehensive income (loss) before reclassification (72) 17,669 35,433 53,030 Reclassification of gains from other comprehensive income (loss) — (7,355) — (7,355) Balances at May 31, 2021 $ (39,032) $ 23,312 $ 47,270 $ 31,550 Balance, February 28, 2022 $ (21,972) $ (4,836) $ (60,217) $ (87,025) Other comprehensive income (loss) before reclassification (7) (12,944) (54,995) (67,946) Reclassification of gains from other comprehensive income (loss) — 3,138 — 3,138 Balances at May 31, 2022 $ (21,979) $ (14,642) $ (115,212) $ (151,833) Six Months Ended May 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, November 30, 2020 $ (38,584) $ 29,239 $ 5,531 $ (3,814) Other comprehensive income (loss) before reclassification (448) 10,599 41,739 51,890 Reclassification of gains from other comprehensive income (loss) — (16,526) — (16,526) Balances at May 31, 2021 $ (39,032) $ 23,312 $ 47,270 $ 31,550 Balance, November 30, 2021 $ (22,745) $ (1,403) $ (46,378) $ (70,526) Other comprehensive income (loss) before reclassification 766 (15,704) (68,834) (83,772) Reclassification of gains from other comprehensive income (loss) — 2,465 — 2,465 Balances at May 31, 2022 $ (21,979) $ (14,642) $ (115,212) $ (151,833)

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS: In the ordinary course of business, the Company is exposed to foreign currency risk and credit risk. The Company enters into transactions, and owns monetary assets and liabilities, that are denominated in currencies other than the legal entity’s functional currency. The Company may enter into forward contracts, option contracts, or other derivative instruments to offset a portion of the risk on expected future cash flows, earnings, net investments in certain non-U.S. legal entities and certain existing assets and liabilities. However, the Company may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the 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 consolidated balance sheets at their fair values. Changes in the fair value of derivatives are recorded in the consolidated statements of operations, or as a component of AOCI in the consolidated balance sheets, as discussed below. Cash Flow Hedges To mitigate the risk of fluctuations in foreign currency exchange rates on gross margins, certain of the Company’s legal entities with functional currencies that are not U.S. dollars may hedge a portion of forecasted revenue or costs not denominated in the entities’ functional currencies. These instruments mature at various dates through May 2024. Gains and losses on cash flow hedges are recorded in AOCI until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of foreign currency revenue are recognized as a component of “Revenue” in the same period as the related revenue is recognized, and deferred gains and losses related to cash flow hedges of foreign currency costs are recognized as a component of “Cost of revenue” or “Selling, general and administrative expenses” in the same period as the related costs are recognized. Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent two-month time period. Deferred gains and losses in AOCI associated with such derivative instruments are reclassified into earnings in the period of de-designation. Any subsequent changes in fair value of such derivative instruments are recorded in earnings unless they are re-designated as hedges of other transactions. Non-Designated Derivatives The Company uses short-term forward contracts to offset the foreign exchange risk of assets and liabilities denominated in currencies other than the functional currency of the Company’s legal entities that own the asset or liability. These contracts, which are not designated as hedging instruments, mature or settle within twelve months. Derivatives that are not designated as hedging instruments are adjusted to fair value through earnings in the financial statement line item to which the derivative relates. Fair Values of Derivative Instruments in the Consolidated Balance Sheets The fair values of the Company’s derivative instruments are disclosed in Note 7 and summarized in the table below: Value as of Balance Sheet Line Item May 31, 2022 November 30, 2021 Derivative instruments not designated as hedging instruments: Foreign exchange forward contracts (notional value) $ 1,405,674 $ 1,415,447 Other current assets 11,376 10,058 Other accrued liabilities 11,930 12,542 Derivative instruments designated as cash flow hedges: Foreign exchange forward contracts (notional value) $ 907,910 $ 918,097 Other current assets and other assets 1,252 7,851 Other accrued liabilities and other long-term liabilities 20,916 9,736 Volume of activity The notional amounts of foreign exchange forward contracts represent the gross amounts of foreign currency, including, principally, the Philippine peso, the Indian rupee, the 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 exchange rates change. The Effect of Derivative Instruments on AOCI and the Consolidated Statements of Operations The following table shows the gains and losses, before taxes, of the Company’s derivative instruments designated as cash flow hedges and not designated as hedging instruments in other comprehensive income (“OCI”), and the consolidated statements of operations for the periods presented: Three Months Ended Six Months Ended Locations of gain (loss) in statement of operations May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Derivative instruments designated as cash flow hedges (Loss) / Gain recognized in OCI: Foreign exchange forward contracts $ (17,384) $ 23,718 $ (21,091) $ 14,393 Gains reclassified from AOCI into income: Foreign exchange forward contracts (Loss) / Gain reclassified from AOCI into income Cost of revenue for services $ (3,426) $ 7,127 $ (3,011) $ 15,962 (Loss) / Gain reclassified from AOCI into income Selling, general and administrative expenses (790) 2,746 (300) 6,104 Total $ (4,216) $ 9,873 $ (3,311) $ 22,066 Derivative instruments not designated as hedging instruments: (Loss) / Gain recognized from foreign exchange forward contracts, net (1) Other expense (income), net $ (16,148) $ 20,808 $ (17,160) $ 18,041 (1) The gains and losses largely offset the currency gains and losses that resulted from changes in the assets and liabilities denominated in nonfunctional currencies. There were no material gain or loss amounts excluded from the assessment of effectiveness. Existing net losses in AOCI that are expected to be reclassified into earnings in the normal course of business within the next twelve months are $16,697. Offsetting of Derivatives In the consolidated balance sheets, the Company does not offset derivative assets against liabilities in master netting arrangements. Credit exposure for derivative financial instruments is limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed the Company’s obligations to the counterparties. The

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	May 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS: The Company’s fair value measurements are classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The following table summarizes the valuation of the Company’s investments and financial instruments that are measured at fair value on a recurring basis: As of May 31, 2022 As of November 30, 2021 Fair value measurement category Fair value measurement category Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 90,511 $ 90,511 $ — $ — $ 77,332 $ 77,332 $ — $ — Foreign government bond 1,667 1,667 — — 1,446 1,446 — — Forward foreign currency exchange contracts 12,628 — 12,628 — 17,909 — 17,909 — Liabilities: Forward foreign currency exchange contracts $ 32,846 $ — $ 32,846 $ — $ 22,278 $ — $ 22,278 $ — The Company’s cash equivalents consist primarily of highly liquid investments in money market funds and term deposits with maturity periods of three months or less. The carrying values of cash equivalents approximate fair value since they are near their maturity. Investment in foreign government bond classified as an available-for-sale debt security is recorded at fair value based on quoted market prices. The fair values of forward exchange contracts are measured based on the foreign currency spot and forward rates quoted by banks or foreign currency dealers. Fair values of long-term foreign currency exchange contracts are measured using valuations based upon quoted prices for similar assets and liabilities in active markets and are valued by reference to similar financial instruments, adjusted for terms specific to the contracts. The effect of nonperformance risk on the fair value of derivative instruments was not material as of May 31, 2022 and November 30, 2021. The carrying values of term deposits with maturities less than one year, accounts receivable and accounts payable approximate fair value due to their short maturities and interest rates that are variable in nature. The carrying values of the outstanding balance on the Term Loan under the Company’s Credit Facility and the outstanding balance on the Securitization Facility approximate their fair values since they bear interest rates that are similar to existing market rates.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	May 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE: Basic and diluted earnings per common share ( “ EPS ” ) are computed using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security. The Company’s restricted stock awards are considered participating securities because they are legally issued at the grant date and holders have a non-forfeitable right to receive dividends. Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Basic earnings per common share: Net income $ 113,142 $ 82,904 $ 223,415 $ 171,715 Less: net income allocated to participating securities (1) (1,714) (1,272) (3,267) (2,346) Net income attributable to common stockholders $ 111,428 $ 81,632 $ 220,148 $ 169,369 Weighted-average number of common shares - basic 51,564 51,275 51,596 51,215 Basic earnings per common share $ 2.16 $ 1.59 $ 4.27 $ 3.31 Diluted earnings per common share: Net income $ 113,142 $ 82,904 $ 223,415 $ 171,715 Less: net income allocated to participating securities (1) (1,700) (1,254) (3,243) (2,314) Net income attributable to common stockholders $ 111,442 $ 81,650 $ 220,172 $ 169,401 Weighted-average number of common shares - basic 51,564 51,275 51,596 51,215 Effect of dilutive securities: Stock options and restricted stock units 426 730 399 713 Weighted-average number of common shares - diluted 51,990 52,005 51,995 51,928 Diluted earnings per common share $ 2.14 $ 1.57 $ 4.23 $ 3.26 (1) Restricted stock awards granted to employees by the Company are considered participating securities.

REVENUE

REVENUE	6 Months Ended
	May 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE: Disaggregated revenue In the following table, the Company’s revenue is disaggregated by primary industry verticals: Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Industry vertical: Technology and consumer electronics $ 466,754 $ 417,277 $ 936,953 $ 830,095 Retail, travel and ecommerce 295,025 231,966 579,942 470,967 Communications and media 273,817 254,860 534,460 503,650 Banking, financial services and insurance 255,583 228,816 498,829 437,900 Healthcare 148,252 115,418 298,388 240,642 Other 128,670 121,541 255,581 239,902 Total $ 1,568,101 $ 1,369,878 $ 3,104,153 $ 2,723,156

PENSION AND EMPLOYEE BENEFITS P

PENSION AND EMPLOYEE BENEFITS PLANS	6 Months Ended
	May 31, 2022
Retirement Benefits [Abstract]
PENSION AND EMPLOYEE BENEFITS PLANS	PENSION AND EMPLOYEE BENEFITS PLANS: The Company has a 401(k) plan in the United States under which eligible employees may contribute up to the maximum amount as provided by law. Employees become eligible to participate in the 401(k) plan on the first day of the month after their employment date. The Company may make discretionary contributions under the plan. Employees in most of the Company’s non-U.S. legal entities are covered by government mandated defined contribution plans. During the three and six months ended May 31, 2022, the Company contributed $26,855 and $48,667, respectively, to defined contribution plans. During the three and six months ended May 31, 2021, the Company contributed $18,967 and $39,141, respectively, to defined contribution plans. Defined Benefit Plans The Company has defined benefit pension and retirement plans for eligible employees of certain non-U.S. legal entities. For eligible employees in the U.S., the Company maintains a frozen defined benefit pension plan (“the cash balance plan”), which includes both a qualified and non-qualified portion. The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund. The Company maintains funded or unfunded defined benefit pension or retirement plans for certain eligible employees in the Philippines, Malaysia, India, and France. Benefits under these plans are primarily based on years of service and compensation during the years immediately preceding retirement or termination of participation in the plans.

INCOME TAXES

INCOME TAXES	6 Months Ended
	May 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES: Income taxes consist of current and deferred tax expense resulting from income earned in domestic and international jurisdictions. The effective tax rates for the three and six months ended May 31, 2022 and 2021 were impacted by the geographic mix of worldwide income and certain discrete items, which included an additional expense of $9,247 in the second quarter of 2021 related to the change in the Company’s indefinite reinvestment assertion for Concentrix Insurance Solutions due to the then-pending sale, which closed in the third quarter of 2021.The liability for unrecognized tax benefits was $54,302 and $56,308 at May 31, 2022 and November 30, 2021, respectively, and is included in other long-term liabilities in the consolidated balance sheets. As of May 31, 2022 and November 30, 2021, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $46,449 and $48,438, respectively. This amount includes net interest and penalties of $8,604 and $8,861 for the respective periods. The net interest and penalties balance for November 30, 2021 includes an immaterial prior period disclosure adjustment to properly present the amount. This disclosure adjustment resulted in no impact to the Company’s consolidated balance sheets or consolidated statement of operations for any period presented. The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits could decrease between approximately $5,348 and $12,108 in the next twelve months; however, actual developments in this area could differ from those currently expected.

LEASES

LEASES	6 Months Ended
	May 31, 2022
Leases [Abstract]
LEASES	LEASES: The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2035. The Company’s finance leases are not material. The following table presents the various components of operating lease costs: Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Operating lease cost $ 49,738 $ 51,122 $ 100,540 $ 102,563 Short-term lease cost 5,186 3,819 9,523 7,527 Variable lease cost 11,234 10,014 23,218 20,134 Sublease income (692) (419) (1,427) (891) Total operating lease cost $ 65,466 $ 64,536 $ 131,854 $ 129,333 The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of May 31, 2022: Fiscal Years Ending November 30, 2022 (remaining six months) $ 95,246 2023 165,178 2024 127,513 2025 81,987 2026 36,444 Thereafter 25,434 Total payments 531,802 Less: imputed interest* 53,261 Total present value of lease payments $ 478,541 *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 May 31, 2022 November 30, 2021 Operating lease ROU assets Other assets, net $ 461,760 $ 489,171 Current operating lease liabilities Other accrued liabilities 152,418 153,329 Non-current operating lease liabilities Other long-term liabilities 326,123 354,471 The following table presents supplemental cash flow information related to the Company’s operating leases. Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below: Six Months Ended May 31, 2022 May 31, 2021 Cash paid for amounts included in the measurement of lease liabilities $ 100,857 $ 107,926 Non-cash ROU assets obtained in exchange for lease liabilities 68,238 76,374 The weighted-average remaining lease term and discount rate as of May 31, 2022 and November 30, 2021 were as follows: As of May 31, 2022 November 30, 2021 Weighted-average remaining lease term (years) 3.63 3.81 Weighted-average discount rate 5.38 % 5.82 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	May 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: From time to time, the Company receives notices from third parties, including customers and suppliers, seeking indemnification, payment of money or other actions in connection with claims made against them. Also, from time to time, the Company has been involved in various bankruptcy preference actions where the Company was a supplier to the companies now in bankruptcy. In addition, the Company is subject to various other claims, both asserted and unasserted, that arise in the ordinary course of business. The Company evaluates these claims and records the related liabilities. It is possible that the liabilities ultimately incurred by the Company could differ from the amounts recorded. Under the separation and distribution agreement with TD SYNNEX, the Company agreed to indemnify TD SYNNEX, each of its subsidiaries and each of their respective directors, officers and employees from and against all liabilities allocated to Concentrix under the separation and distribution agreement, which are generally those liabilities that relate to the CX business and the Company’s business activities, whether incurred prior to or after the spin-off. Under the tax matters agreement with TD SYNNEX, if the spin-off fails to qualify for tax-free treatment, the Company is generally required to indemnify TD SYNNEX for any taxes resulting from the spin-off (and related costs and other damages) to the extent such amounts result from (1) an acquisition of all or a portion of the Company’s equity securities or assets by any means, (2) any action or failure to act by the Company after the distribution affecting the voting rights of the Company’s stock, (3) other actions or failures to act by the Company, or (4) certain breaches of the Company’s agreements and representations in the tax matters agreement. The Company’s indemnification obligations to TD SYNNEX and its subsidiaries, officers, directors and employees are not limited by any maximum amount.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	May 31, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY: Share repurchase program In September 2021, the Company’s board of directors authorized the Company to purchase up to $500,000 of the Company’s outstanding shares of common stock from time to time as market and business conditions warrant, including through open market purchases or Rule 10b5-1 trading plans. The repurchase program has no termination date and may be suspended or discontinued at any time. During the three and six months ended May 31, 2022, the Company repurchased 367 aggregate shares of its common stock for an aggregate purchase price of $57,850. The share repurchases were made on the open market and the shares repurchased by the Company are held in treasury for general corporate purposes. At May 31, 2022, approximately $417,055 remained available for share repurchases under the existing authorization from the Company’s board of directors. During June 2022, the Company repurchased 92 aggregate shares of its common stock for an aggregate purchase price of $13,764. Dividends During fiscal years 2022 and 2021, the Company has paid the following dividends per share approved by the Company’s board of directors: Announcement Date Record Date Per Share Dividend Amount Payment Date September 27, 2021 October 22, 2021 $0.25 November 2, 2021 January 18, 2022 January 28, 2022 $0.25 February 8, 2022 March 29, 2022 April 29, 2022 $0.25 May 10, 2022 On June 27, 2022, the Company announced a cash dividend of $0.25 per share to stockholders of record as of July 29, 2022, payable on August 9, 2022.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	May 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying interim unaudited consolidated financial statements have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The amounts as of November 30, 2021 have been derived from the Company’s annual audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. These interim consolidated financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021. All intercompany balances and transactions have been eliminated in consolidation.
Risks and uncertainties related to the COVID-19 pandemic	Risks and uncertainties related to the COVID-19 pandemic The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains and labor force participation, and created significant volatility and disruption of financial markets. The Company successfully transitioned a significant portion of its workforce to a remote working environment throughout the second quarter of 2020 and implemented a number of safety and social distancing measures in the Company’s sites to protect the health and safety of the team. During the three and six months ended May 31, 2022, almost all of the Company’s workforce was productive, but the Company experienced the continued effects of the COVID-19 pandemic, as variants caused new waves of COVID-19 cases around the globe. The extent of the continued impact of the COVID-19 pandemic on the Company’s operational and financial performance, including its ability to execute business strategies and initiatives in the expected time frame, will depend on future developments, including the duration, spread and severity of the pandemic, the evolution of the
Concentration of credit risk	Concentration of credit risk For the three and six months ended May 31, 2022, no client accounted for more than 10% of the Company’s consolidated revenue. For the three and six months ended May 31, 2021, one client accounted for 11.2% and 11.5%, respectively, of the Company’s consolidated revenue.
Recently adopted accounting pronouncements and Recently issued accounting pronouncements	Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued new guidance that simplifies the accounting for income taxes. The guidance is effective for annual reporting periods beginning after December 15, 2020, and interim periods within those reporting periods. This standard became effective for the Company in fiscal year 2022 and did not have a material impact on the consolidated financial statements. Recently issued accounting pronouncements

ACQUISITION (Tables)

ACQUISITION (Tables)	6 Months Ended
	May 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	The preliminary purchase price consideration to acquire PK consisted of the following: Cash consideration for PK stock (1) $ 1,177,342 Cash consideration for PK vested equity awards (2) 246,229 Cash consideration for repayment of PK debt, including accrued interest (3) 148,492 Cash consideration for transaction expenses of PK (4) 22,842 Total cash consideration 1,594,905 Non-cash equity consideration for conversion of PK equity awards (5) 15,725 Total consideration transferred 1,610,630 Less: Cash acquired (6) 29,653 Total purchase price consideration $ 1,580,977 (1) Represents the cash consideration paid for the outstanding shares of PK’s common stock, which includes the final settlement of the merger consideration adjustment paid pursuant to the merger agreement. (2) Represents the cash consideration paid for vested PK stock option awards and restricted stock awards. (3) Represents the cash consideration paid to retire PK’s outstanding third-party debt, including accrued interest. (4) Represents the cash consideration paid for expenses incurred by PK in connection with the merger and paid by Concentrix pursuant to the merger agreement. These expenses primarily related to third-party consulting services. (5) Represents the issuance of vested Concentrix stock options that were issued in conversion of certain vested PK stock options that were assumed by Concentrix pursuant to the merger agreement. (6) Represents the PK cash balance acquired at acquisition.
Schedule of Business Acquisitions	The following table summarizes the preliminary estimates of fair values of the assets acquired, liabilities assumed and non-controlling interest as of the acquisition date: As of December 27, 2021 Assets acquired: Cash and cash equivalents $ 29,653 Accounts receivable 86,955 Property and equipment 11,198 Operating lease right-of-use assets 12,288 Identifiable intangible assets 469,300 Goodwill 1,126,111 Other assets 11,954 Total assets acquired $ 1,747,459 Liabilities assumed and non-controlling interest: Accounts payable and accrued liabilities 68,438 Operating lease liabilities 12,288 Deferred tax liabilities 54,103 Non-controlling interest 2,000 Total liabilities assumed and non-controlling interest $ 136,829 Total consideration transferred $ 1,610,630
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The preliminary amounts allocated to intangible assets are as follows: Gross Carrying Amount Weighted-Average Useful Life Customer relationships $ 398,600 15 years Technology 63,500 5 years Trade name 5,000 3 years Non-compete agreements 2,200 3 years Total $ 469,300
Business Acquisition, Pro Forma Information	The following table provides the results of operations for PK included in the consolidated statement of operations from the acquisition date through May 31, 2022: Three Months Ended Six Months Ended May 31, 2022 May 31, 2022 Revenue $ 123,963 $ 207,159 Income before income taxes 2,773 2,980 The supplemental pro forma financial information for the periods presented is as follows: Three Months Ended Six Months Ended May 31, May 31, 2022 2021 2022 2021 Revenue $ 1,568,101 $ 1,479,640 $ 3,137,114 $ 2,928,392 Net income 113,438 81,618 219,789 165,853

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	May 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The Company recorded share-based compensation expense in the consolidated statements of operations for the three and six months ended May 31, 2022 and 2021 as follows: Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Total share-based compensation $ 12,647 $ 9,283 $ 27,816 $ 16,401 Tax benefit recorded in the provision for income taxes (3,212) (2,320) (7,064) (4,100) Effect on net income $ 9,435 $ 6,963 $ 20,752 $ 12,301

BALANCE SHEET COMPONENTS (Table

BALANCE SHEET COMPONENTS (Tables)	6 Months Ended
	May 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows: As of May 31, 2022 November 30, 2021 Cash and cash equivalents $ 163,364 $ 182,038 Restricted cash included in other current assets 735 972 Cash, cash equivalents and restricted cash $ 164,099 $ 183,010
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows: As of May 31, 2022 November 30, 2021 Cash and cash equivalents $ 163,364 $ 182,038 Restricted cash included in other current assets 735 972 Cash, cash equivalents and restricted cash $ 164,099 $ 183,010
Schedule of Accounts Receivable	Accounts receivable, net is comprised of the following as of May 31, 2022 and November 30, 2021: As of May 31, 2022 November 30, 2021 Billed accounts receivable $ 772,084 $ 714,032 Unbilled accounts receivable 546,625 499,342 Less: Allowance for doubtful accounts (6,994) (5,421) Accounts receivable, net $ 1,311,715 $ 1,207,953
Schedule of Allowance for Doubtful Trade Receivables	Presented below is a progression of the allowance for doubtful trade receivables: Three Months Ended Six Months Ended May 31, May 31, 2022 2021 2022 2021 Balance at beginning of period $ 6,904 $ 6,239 $ 5,421 $ 8,963 Net additions (reductions) 2,474 422 4,422 (2,132) Write-offs and reclassifications (2,384) (1,148) (2,849) (1,318) Balance at end of period $ 6,994 $ 5,513 $ 6,994 $ 5,513
Property, Plant and Equipment	The following tables summarize the carrying amounts and related accumulated depreciation for property and equipment as of May 31, 2022 and November 30, 2021: As of May 31, 2022 November 30, 2021 Land $ 27,529 $ 27,677 Equipment, computers and software 516,033 488,270 Furniture and fixtures 90,122 90,442 Buildings, building improvements and leasehold improvements 369,519 364,166 Construction-in-progress 12,751 10,741 Total property and equipment, gross $ 1,015,954 $ 981,296 Less: Accumulated depreciation (614,238) (574,152) Property and equipment, net $ 401,716 $ 407,144 Shown below are the countries where 10% or more of the Company’s property and equipment, net are located as of May 31, 2022 and November 30, 2021: As of May 31, 2022 November 30, 2021 Property and equipment, net: United States $ 111,923 $ 101,333 Philippines 79,406 87,548 India 44,454 46,167 Others 165,933 172,096 Total $ 401,716 $ 407,144
Schedule of Goodwill	The following table summarizes the changes in the Company’s goodwill for the six months ended May 31, 2022: Balance as of November 30, 2021 $ 1,813,502 Acquisition 1,126,111 Foreign exchange translation (13,934) Balance as of May 31, 2022 $ 2,925,679
Schedule of Intangible Assets	The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of May 31, 2022 and November 30, 2021: As of May 31, 2022 As of November 30, 2021 Gross amounts Accumulated amortization Net amounts Gross amounts Accumulated amortization Net amounts Customer relationships $ 1,727,681 $ (755,432) $ 972,249 $ 1,347,961 $ (694,701) $ 653,260 Technology 74,282 (14,802) 59,480 10,835 (8,900) 1,935 Trade names 11,667 (7,295) 4,372 6,724 (6,391) 333 Non-compete agreements 2,200 (314) 1,886 — — — $ 1,815,830 $ (777,843) $ 1,037,987 $ 1,365,520 $ (709,992) $ 655,528
Schedule of Intangible Assets, Future Amortization Expense	Estimated future amortization expense of the Company’s intangible assets is as follows: Fiscal years ending November 30, 2022 (remaining six months) $ 82,532 2023 153,699 2024 139,964 2025 128,441 2026 112,922 Thereafter 420,429 Total $ 1,037,987
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows: Three Months Ended May 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, February 28, 2021 $ (38,960) $ 12,998 $ 11,837 $ (14,125) Other comprehensive income (loss) before reclassification (72) 17,669 35,433 53,030 Reclassification of gains from other comprehensive income (loss) — (7,355) — (7,355) Balances at May 31, 2021 $ (39,032) $ 23,312 $ 47,270 $ 31,550 Balance, February 28, 2022 $ (21,972) $ (4,836) $ (60,217) $ (87,025) Other comprehensive income (loss) before reclassification (7) (12,944) (54,995) (67,946) Reclassification of gains from other comprehensive income (loss) — 3,138 — 3,138 Balances at May 31, 2022 $ (21,979) $ (14,642) $ (115,212) $ (151,833) Six Months Ended May 31, 2022 and 2021 Unrecognized gains (losses) on defined benefit plan, net of taxes Unrealized gains (losses) on cash flow hedges, net of taxes Foreign currency translation adjustments, net of taxes Total Balance, November 30, 2020 $ (38,584) $ 29,239 $ 5,531 $ (3,814) Other comprehensive income (loss) before reclassification (448) 10,599 41,739 51,890 Reclassification of gains from other comprehensive income (loss) — (16,526) — (16,526) Balances at May 31, 2021 $ (39,032) $ 23,312 $ 47,270 $ 31,550 Balance, November 30, 2021 $ (22,745) $ (1,403) $ (46,378) $ (70,526) Other comprehensive income (loss) before reclassification 766 (15,704) (68,834) (83,772) Reclassification of gains from other comprehensive income (loss) — 2,465 — 2,465 Balances at May 31, 2022 $ (21,979) $ (14,642) $ (115,212) $ (151,833)

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of the Company’s derivative instruments are disclosed in Note 7 and summarized in the table below: Value as of Balance Sheet Line Item May 31, 2022 November 30, 2021 Derivative instruments not designated as hedging instruments: Foreign exchange forward contracts (notional value) $ 1,405,674 $ 1,415,447 Other current assets 11,376 10,058 Other accrued liabilities 11,930 12,542 Derivative instruments designated as cash flow hedges: Foreign exchange forward contracts (notional value) $ 907,910 $ 918,097 Other current assets and other assets 1,252 7,851 Other accrued liabilities and other long-term liabilities 20,916 9,736
Derivative Instruments, Gain (Loss)	The following table shows the gains and losses, before taxes, of the Company’s derivative instruments designated as cash flow hedges and not designated as hedging instruments in other comprehensive income (“OCI”), and the consolidated statements of operations for the periods presented: Three Months Ended Six Months Ended Locations of gain (loss) in statement of operations May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Derivative instruments designated as cash flow hedges (Loss) / Gain recognized in OCI: Foreign exchange forward contracts $ (17,384) $ 23,718 $ (21,091) $ 14,393 Gains reclassified from AOCI into income: Foreign exchange forward contracts (Loss) / Gain reclassified from AOCI into income Cost of revenue for services $ (3,426) $ 7,127 $ (3,011) $ 15,962 (Loss) / Gain reclassified from AOCI into income Selling, general and administrative expenses (790) 2,746 (300) 6,104 Total $ (4,216) $ 9,873 $ (3,311) $ 22,066 Derivative instruments not designated as hedging instruments: (Loss) / Gain recognized from foreign exchange forward contracts, net (1) Other expense (income), net $ (16,148) $ 20,808 $ (17,160) $ 18,041

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	May 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the valuation of the Company’s investments and financial instruments that are measured at fair value on a recurring basis: As of May 31, 2022 As of November 30, 2021 Fair value measurement category Fair value measurement category Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 90,511 $ 90,511 $ — $ — $ 77,332 $ 77,332 $ — $ — Foreign government bond 1,667 1,667 — — 1,446 1,446 — — Forward foreign currency exchange contracts 12,628 — 12,628 — 17,909 — 17,909 — Liabilities: Forward foreign currency exchange contracts $ 32,846 $ — $ 32,846 $ — $ 22,278 $ — $ 22,278 $ —

BORROWINGS (Tables)

BORROWINGS (Tables)	6 Months Ended
	May 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings consist of the following: As of May 31, 2022 November 30, 2021 Credit Facility - current portion of Term Loan component $ 105,000 $ — Current portion of long term debt $ 105,000 $ — Credit Facility - Term Loan component $ 1,995,000 $ — Credit Facility - Prior Term Loan component — 700,000 Securitization Facility 211,000 105,000 Long-term debt, before unamortized debt discount and issuance costs 2,206,000 805,000 Less: unamortized debt discount and issuance costs (8,124) (2,983) Long-term debt, net $ 2,197,876 $ 802,017

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	May 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Basic earnings per common share: Net income $ 113,142 $ 82,904 $ 223,415 $ 171,715 Less: net income allocated to participating securities (1) (1,714) (1,272) (3,267) (2,346) Net income attributable to common stockholders $ 111,428 $ 81,632 $ 220,148 $ 169,369 Weighted-average number of common shares - basic 51,564 51,275 51,596 51,215 Basic earnings per common share $ 2.16 $ 1.59 $ 4.27 $ 3.31 Diluted earnings per common share: Net income $ 113,142 $ 82,904 $ 223,415 $ 171,715 Less: net income allocated to participating securities (1) (1,700) (1,254) (3,243) (2,314) Net income attributable to common stockholders $ 111,442 $ 81,650 $ 220,172 $ 169,401 Weighted-average number of common shares - basic 51,564 51,275 51,596 51,215 Effect of dilutive securities: Stock options and restricted stock units 426 730 399 713 Weighted-average number of common shares - diluted 51,990 52,005 51,995 51,928 Diluted earnings per common share $ 2.14 $ 1.57 $ 4.23 $ 3.26 (1) Restricted stock awards granted to employees by the Company are considered participating securities.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	May 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	In the following table, the Company’s revenue is disaggregated by primary industry verticals: Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Industry vertical: Technology and consumer electronics $ 466,754 $ 417,277 $ 936,953 $ 830,095 Retail, travel and ecommerce 295,025 231,966 579,942 470,967 Communications and media 273,817 254,860 534,460 503,650 Banking, financial services and insurance 255,583 228,816 498,829 437,900 Healthcare 148,252 115,418 298,388 240,642 Other 128,670 121,541 255,581 239,902 Total $ 1,568,101 $ 1,369,878 $ 3,104,153 $ 2,723,156

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	May 31, 2022
Leases [Abstract]
Schedule of Lease Cost	The following table presents the various components of operating lease costs: Three Months Ended Six Months Ended May 31, 2022 May 31, 2021 May 31, 2022 May 31, 2021 Operating lease cost $ 49,738 $ 51,122 $ 100,540 $ 102,563 Short-term lease cost 5,186 3,819 9,523 7,527 Variable lease cost 11,234 10,014 23,218 20,134 Sublease income (692) (419) (1,427) (891) Total operating lease cost $ 65,466 $ 64,536 $ 131,854 $ 129,333 The weighted-average remaining lease term and discount rate as of May 31, 2022 and November 30, 2021 were as follows: As of May 31, 2022 November 30, 2021 Weighted-average remaining lease term (years) 3.63 3.81 Weighted-average discount rate 5.38 % 5.82 %
Operating Lease Liability Maturity Schedule	The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of May 31, 2022: Fiscal Years Ending November 30, 2022 (remaining six months) $ 95,246 2023 165,178 2024 127,513 2025 81,987 2026 36,444 Thereafter 25,434 Total payments 531,802 Less: imputed interest* 53,261 Total present value of lease payments $ 478,541
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 May 31, 2022 November 30, 2021 Operating lease ROU assets Other assets, net $ 461,760 $ 489,171 Current operating lease liabilities Other accrued liabilities 152,418 153,329 Non-current operating lease liabilities Other long-term liabilities 326,123 354,471
Schedule of Supplemental Cash Flow Information Related to Operating Leases	The following table presents supplemental cash flow information related to the Company’s operating leases. Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below: Six Months Ended May 31, 2022 May 31, 2021 Cash paid for amounts included in the measurement of lease liabilities $ 100,857 $ 107,926 Non-cash ROU assets obtained in exchange for lease liabilities 68,238 76,374

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	May 31, 2022
Equity [Abstract]
Dividends Declared	During fiscal years 2022 and 2021, the Company has paid the following dividends per share approved by the Company’s board of directors: Announcement Date Record Date Per Share Dividend Amount Payment Date September 27, 2021 October 22, 2021 $0.25 November 2, 2021 January 18, 2022 January 28, 2022 $0.25 February 8, 2022 March 29, 2022 April 29, 2022 $0.25 May 10, 2022

BACKGROUND AND BASIS OF PRESE_2

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

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Customer Concentration Risk - One Client	3 Months Ended	6 Months Ended		12 Months Ended
	May 31, 2021	May 31, 2022	May 31, 2021	Nov. 30, 2021
Revenue
Concentration Risk [Line Items]
Concentration risk percentage	11.20%		11.50%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage		10.40%		15.30%

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 27, 2021 USD ($) market	May 31, 2022 USD ($) $ / shares	May 31, 2022 USD ($) $ / shares	May 31, 2022 USD ($) $ / shares	May 31, 2021 USD ($)
Business Acquisition [Line Items]
Acquisitions of business, net of cash acquired				$ 1,565,252	$ 3,015
PK
Business Acquisition [Line Items]
Number of staff members acquired | market	5,000
Acquisitions of business, net of cash acquired	$ 1,580,977
Gross Carrying Amount	469,300
Acquisition-related and integration expenses	22,842		$ 1,700	$ 2,600
Cash paid for acquisition	$ 1,594,905
ServiceSource International, Inc
Business Acquisition [Line Items]
Cash paid for acquisition		$ 131,000
Business Acquisition, Share Price | $ / shares		$ 1.50	$ 1.50	$ 1.50

ACQUISITIONS - Consideration (D

ACQUISITIONS - Consideration (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Dec. 27, 2021	May 31, 2022	May 31, 2022	May 31, 2021
Business Acquisition [Line Items]
Acquisitions of business, net of cash acquired			$ 1,565,252	$ 3,015
PK
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross, Cash Consideration for Stock	$ 1,177,342
Payments to Acquire Businesses, Gross, Cash Consideration for Vested Equity Awards	246,229
Payments to Acquire Businesses, Gross, Cash Consideration for Repayment of Debt, Including Accrued Interest	148,492
Acquisition-related and integration expenses	22,842	$ 1,700	$ 2,600
Cash paid for acquisition	1,594,905
Business Combination, Consideration Transferred, Other	15,725
Purchase price	1,610,630
Cash Acquired from Acquisition	29,653
Acquisitions of business, net of cash acquired	$ 1,580,977

ACQUISITIONS - Purchase Price (

ACQUISITIONS - Purchase Price (Details) - USD ($) $ in Thousands	Dec. 27, 2021	May 31, 2022	Nov. 30, 2021
Business Acquisition [Line Items]
Goodwill		$ 2,925,679	$ 1,813,502
PK
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 29,653
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	86,955
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	11,198
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use-Assets	12,288
Gross Carrying Amount	469,300
Goodwill	1,126,111
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	11,954
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	1,747,459
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	68,438
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	12,288
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	54,103
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	2,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	136,829
Purchase price	$ 1,610,630

ACQUISITIONS - Intangible Asset

ACQUISITIONS - Intangible Assets (Details) - PK $ in Thousands	Dec. 27, 2021 USD ($)
Business Acquisition [Line Items]
Gross Carrying Amount	$ 469,300
Customer relationships
Business Acquisition [Line Items]
Gross Carrying Amount	$ 398,600
Weighted-Average Useful Life	15 years
Technology
Business Acquisition [Line Items]
Gross Carrying Amount	$ 63,500
Weighted-Average Useful Life	5 years
Trade names
Business Acquisition [Line Items]
Gross Carrying Amount	$ 5,000
Weighted-Average Useful Life	3 years
Non-compete agreements
Business Acquisition [Line Items]
Gross Carrying Amount	$ 2,200
Weighted-Average Useful Life	3 years

ACQUISITIONS - Pro Forma (Detai

ACQUISITIONS - Pro Forma (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Business Acquisition [Line Items]
Revenue	$ 1,568,101	$ 1,369,878	$ 3,104,153	$ 2,723,156
Income before income taxes	146,484	125,025	293,075	248,408
PK
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	1,568,101	1,479,640	3,137,114	2,928,392
Business Acquisition, Pro Forma Net Income (Loss)	113,438	$ 81,618	219,789	$ 165,853
Revenue	123,963		207,159
Income before income taxes	$ 2,773		$ 2,980

SHARE-BASED COMPENSATION - Narr

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

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Share-based Payment Arrangement [Abstract]
Total share-based compensation	$ 12,647	$ 9,283	$ 27,816	$ 16,401
Tax benefit recorded in the provision for income taxes	(3,212)	(2,320)	(7,064)	(4,100)
Effect on net income	$ 9,435	$ 6,963	$ 20,752	$ 12,301

BALANCE SHEET COMPONENTS - Cash

BALANCE SHEET COMPONENTS - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021	May 31, 2021	Nov. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Cash and cash equivalents	$ 163,364	$ 182,038
Restricted cash included in other current assets	735	972
Cash, cash equivalents and restricted cash	$ 164,099	$ 183,010	$ 132,481	$ 156,351

BALANCE SHEET COMPONENTS - Acco

BALANCE SHEET COMPONENTS - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for doubtful accounts	$ (6,994)	$ (6,904)	$ (5,421)	$ (5,513)	$ (6,239)	$ (8,963)
Accounts receivable, net	1,311,715		1,207,953
Billed accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	772,084		714,032
Unbilled accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 546,625		$ 499,342

BALANCE SHEET COMPONENTS - Allo

BALANCE SHEET COMPONENTS - Allowance for Doubtful Trade Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Feb. 28, 2022	Nov. 30, 2021	Feb. 28, 2021	Nov. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts Receivable, Allowance for Credit Loss, Current	$ 6,994	$ 5,513	$ 6,994	$ 5,513	$ 6,904	$ 5,421	$ 6,239	$ 8,963
Write-offs and reclassifications	(2,384)	(1,148)	(2,849)	(1,318)
Provision for doubtful accounts	$ 2,474	$ 422	$ 4,422	$ (2,132)

BALANCE SHEET COMPONENTS - Prop

BALANCE SHEET COMPONENTS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,015,954	$ 981,296
Less: Accumulated depreciation	(614,238)	(574,152)
Property and equipment, net	401,716	407,144
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	111,923	101,333
Philippines
Property, Plant and Equipment [Line Items]
Property and equipment, net	79,406	87,548
India
Property, Plant and Equipment [Line Items]
Property and equipment, net	44,454	46,167
Other
Property, Plant and Equipment [Line Items]
Property and equipment, net	165,933	172,096
Land
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	27,529	27,677
Equipment, computers and software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	516,033	488,270
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	90,122	90,442
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	369,519	364,166
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 12,751	$ 10,741

BALANCE SHEET COMPONENTS - Good

BALANCE SHEET COMPONENTS - Goodwill (Details) $ in Thousands	6 Months Ended
	May 31, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 1,813,502
Acquisition	1,126,111
Foreign exchange translation	(13,934)
Goodwill, Ending Balance	$ 2,925,679

BALANCE SHEET COMPONENTS - Inta

BALANCE SHEET COMPONENTS - Intangible Assets, Net (Details) - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross amounts	$ 1,815,830	$ 1,365,520
Accumulated amortization	(777,843)	(709,992)
Total	1,037,987	655,528
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross amounts	1,727,681	1,347,961
Accumulated amortization	(755,432)	(694,701)
Total	972,249	653,260
Technology
Finite-Lived Intangible Assets [Line Items]
Gross amounts	74,282	10,835
Accumulated amortization	(14,802)	(8,900)
Total	59,480	1,935
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross amounts	11,667	6,724
Accumulated amortization	(7,295)	(6,391)
Total	4,372	333
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross amounts	2,200	0
Accumulated amortization	(314)	0
Total	$ 1,886	$ 0

BALANCE SHEET COMPONENTS - Esti

BALANCE SHEET COMPONENTS - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Balance Sheet Related Disclosures [Abstract]
2021 (remaining three months)	$ 82,532
2023	153,699
2024	139,964
2025	128,441
2026	112,922
Thereafter	420,429
Total	$ 1,037,987	$ 655,528

BALANCE SHEET COMPONENTS - Accu

BALANCE SHEET COMPONENTS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Feb. 28, 2022	Nov. 30, 2021	Feb. 28, 2021	Nov. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 3,138	$ (7,355)	$ 2,465	$ (16,526)
Total stockholders’ equity	2,723,945	2,529,768	2,723,945	2,529,768	$ 2,731,999	$ 2,620,255	$ 2,389,278	$ 2,302,085
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(67,946)	53,030	(83,772)	51,890
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Total stockholders’ equity	(115,212)	47,270	(115,212)	47,270	(60,217)	(46,378)	11,837	5,531
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(54,995)	35,433	(68,834)	41,739
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	3,138	(7,355)	2,465	(16,526)
Total stockholders’ equity	(14,642)	23,312	(14,642)	23,312	(4,836)	(1,403)	12,998	29,239
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(12,944)	17,669	(15,704)	10,599
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Total stockholders’ equity	(21,979)	(39,032)	(21,979)	(39,032)	(21,972)	(22,745)	(38,960)	(38,584)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(7)	(72)	766	(448)
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholders’ equity	$ (151,833)	$ 31,550	$ (151,833)	$ 31,550	$ (87,025)	$ (70,526)	$ (14,125)	$ (3,814)

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Value of Derivative Instruments in Balance Sheets (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Not Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	$ 1,405,674	$ 1,415,447
Derivative instruments designated as cash flow hedges:
Notional value	1,405,674	1,415,447
Not Designated as Hedging Instrument | Other current assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	11,376	10,058
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	11,376	10,058
Not Designated as Hedging Instrument | Other accrued liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	11,930	12,542
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	11,930	12,542
Designated as Hedging Instrument
Derivative instruments not designated as hedging instruments:
Notional value	907,910	918,097
Derivative instruments designated as cash flow hedges:
Notional value	907,910	918,097
Designated as Hedging Instrument | Other current assets and other assets
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	1,252	7,851
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	1,252	7,851
Designated as Hedging Instrument | Other accrued liabilities and other long-term liabilities
Derivative instruments not designated as hedging instruments:
Forward foreign currency exchange contracts	20,916	9,736
Derivative instruments designated as cash flow hedges:
Forward foreign currency exchange contracts	$ 20,916	$ 9,736

DERIVATIVE INSTRUMENTS - Effect

DERIVATIVE INSTRUMENTS - Effect of Derivative Instruments on AOCI and Statements of Operations (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Designated as Hedging Instrument
Derivative [Line Items]
(Loss) / Gain reclassified from AOCI into income	$ (4,216)	$ 9,873	$ (3,311)	$ 22,066
(Losses) gains recognized in OCI	(17,384)	23,718	(21,091)	14,393
Other expense (income), net | Not Designated as Hedging Instrument
Derivative [Line Items]
(Loss) gain recognized from foreign exchange forward contracts, net	(16,148)	20,808	(17,160)	18,041
Selling, general and administrative expenses | Designated as Hedging Instrument
Derivative [Line Items]
(Loss) / Gain reclassified from AOCI into income	(790)	2,746	(300)	6,104
Cost of revenue for services | Designated as Hedging Instrument
Derivative [Line Items]
(Loss) / Gain reclassified from AOCI into income	$ (3,426)	$ 7,127	$ (3,011)	$ 15,962

DERIVATIVE INSTRUMENTS - Narrat

DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Thousands	6 Months Ended
	May 31, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Existing gains expected to be reclassified	$ 16,697

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Recurring - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Assets:
Cash equivalents	$ 90,511	$ 77,332
Foreign government bond	1,667	1,446
Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	12,628	17,909
Liabilities:
Forward foreign currency exchange contracts	32,846	22,278
Level 1
Assets:
Cash equivalents	90,511	77,332
Foreign government bond	1,667	1,446
Level 1 | Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	0	0
Liabilities:
Forward foreign currency exchange contracts	0	0
Level 2
Assets:
Cash equivalents	0	0
Foreign government bond	0	0
Level 2 | Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	12,628	17,909
Liabilities:
Forward foreign currency exchange contracts	32,846	22,278
Level 3
Assets:
Cash equivalents	0	0
Foreign government bond	0	0
Level 3 | Foreign Exchange Forward
Assets:
Forward foreign currency exchange contracts	0	0
Liabilities:
Forward foreign currency exchange contracts	$ 0	$ 0

BORROWINGS - Schedule of Debt (

BORROWINGS - Schedule of Debt (Details) - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Debt Instrument [Line Items]
Credit Facility - current portion of Term Loan component	$ 105,000	$ 0
Long-term debt, before unamortized debt discount and issuance costs	2,206,000	805,000
Less: unamortized debt discount and issuance costs	(8,124)	(2,983)
Long-term debt, net	2,197,876	802,017
Securitization Facility
Debt Instrument [Line Items]
Credit Facility - Term Loan component	211,000	105,000
Senior Secured Credit Facility | Term Loan
Debt Instrument [Line Items]
Credit Facility - current portion of Term Loan component	105,000	0
Credit Facility - Term Loan component	$ 1,995,000	$ 700,000

BORROWINGS - Narrative (Details

BORROWINGS - Narrative (Details)					6 Months Ended			12 Months Ended	52 Months Ended
	Jul. 06, 2022 USD ($)	Dec. 27, 2021 USD ($)	Oct. 30, 2020 USD ($)	Oct. 16, 2020 USD ($)	May 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	May 31, 2021 USD ($)	Nov. 30, 2021 USD ($)	Dec. 27, 2026 USD ($)	Nov. 30, 2020 USD ($)
Debt Instrument [Line Items]
Principal payments					$ 700,000,000		$ 0
Securitization Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 350,000,000
Amount outstanding						$ 250,000,000		$ 250,000,000
Securitization Facility | Subsequent Event
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 500,000
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 | LIBOR | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	80%
Securitization Facility | Commercial Paper Rate
Debt Instrument [Line Items]
Basis spread on variable rate			1.05%
Securitization Facility | Commercial Paper Rate | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	70%
Securitization Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	10%
Senior Secured Credit Facility
Debt Instrument [Line Items]
Increase in credit facility		$ 450,000,000
Pro forma first lien leverage ratio		3
Consolidated leverage ratio		3.75
Consolidated interest coverage ratio		3
Senior Secured Credit Facility | Revolver
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 1,000,000,000		$ 600,000,000
Amount outstanding					$ 0	0		0
Senior Secured Credit Facility | Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$ 900,000,000
Amount outstanding										$ 900,000,000
Quarterly installment amounts						$ 11,250,000
Principal payments								200,000,000
Debt Instrument, Periodic Prepayment								$ 166,250,000
Senior Secured Credit Facility | New Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 2,100,000,000
Senior Secured Credit Facility | New Term Loan | Forecast
Debt Instrument [Line Items]
Quarterly installment amounts									$ 26,250,000
Senior Secured Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percent of unused portion		0.225%
Senior Secured Credit Facility | Minimum | SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
Senior Secured Credit Facility | Minimum | Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%
Senior Secured Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percent of unused portion		0.30%
Senior Secured Credit Facility | Maximum | SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		2%
Senior Secured Credit Facility | Maximum | Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Senior Secured Credit Facility | Federal Funds Rate | Not LIBOR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
Senior Secured Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | SOFR Rate Loans
Debt Instrument [Line Items]
Interest rate floor		0%
Senior Secured Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Not SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Senior Secured Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		0.10%
Senior Secured Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | SOFR Rate Loans
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	May 31, 2022	Nov. 30, 2021
Earnings Per Share [Abstract]
Common stock, shares issued (in shares)	52,058,000	51,927,000

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Basic earnings per common share:
Net income attributable to Concentrix Corporation	$ 113,142	$ 82,904	$ 223,415	$ 171,715
Less: net income allocated to participating securities	(1,714)	(1,272)	(3,267)	(2,346)
Net income attributable to common stockholders	$ 111,428	$ 81,632	$ 220,148	$ 169,369
Weighted-average number of common shares - basic (in shares)	51,564	51,275	51,596	51,215
Basic earnings per common share (in dollars per share)	$ 2.16	$ 1.59	$ 4.27	$ 3.31
Diluted earnings per common share:
Net income attributable to Concentrix Corporation	$ 113,142	$ 82,904	$ 223,415	$ 171,715
Less: net income allocated to participating securities	(1,700)	(1,254)	(3,243)	(2,314)
Net income attributable to common stockholders	$ 111,442	$ 81,650	$ 220,172	$ 169,401
Weighted-average number of common shares - basic (in shares)	51,564	51,275	51,596	51,215
Effect of dilutive securities:
Stock options and restricted stock units	426	730	399	713
Weighted-average number of common shares - diluted (in shares)	51,990	52,005	51,995	51,928
Diluted earnings per common share (in dollars per share)	$ 2.14	$ 1.57	$ 4.23	$ 3.26

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,568,101	$ 1,369,878	$ 3,104,153	$ 2,723,156
Technology and consumer electronics
Disaggregation of Revenue [Line Items]
Revenue	466,754	417,277	936,953	830,095
Communications and media
Disaggregation of Revenue [Line Items]
Revenue	273,817	254,860	534,460	503,650
Retail, travel and ecommerce
Disaggregation of Revenue [Line Items]
Revenue	295,025	231,966	579,942	470,967
Banking, financial services and insurance
Disaggregation of Revenue [Line Items]
Revenue	255,583	228,816	498,829	437,900
Healthcare
Disaggregation of Revenue [Line Items]
Revenue	148,252	115,418	298,388	240,642
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 128,670	$ 121,541	$ 255,581	$ 239,902

PENSION AND EMPLOYEE BENEFITS_2

PENSION AND EMPLOYEE BENEFITS PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Nov. 30, 2021
Retirement Benefits [Abstract]
Contributed amount	$ 26,855	$ 18,967	$ 48,667	$ 39,141
Net benefit costs	2,353	$ 3,372	5,628	$ 6,683
Plan underfunded amount	$ 96,016		$ 96,016		$ 104,689

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2021	May 31, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits		$ 54,302	$ 56,308
Unrecognized tax benefits that would affect income tax expense if recognized		46,449	48,438
Interest and penalties accrued on unrecognized tax benefits		8,604	8,861
Unrecognized tax benefits decrease amount		$ 5,348	$ 12,108
Additional expense related to indefinite investment assertion reversal	$ 9,247

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Leases [Abstract]
Operating lease cost	$ 49,738	$ 51,122	$ 100,540	$ 102,563
Short-term lease cost	5,186	3,819	9,523	7,527
Variable lease cost	11,234	10,014	23,218	20,134
Sublease income	(692)	(419)	(1,427)	(891)
Total operating lease cost	$ 65,466	$ 64,536	$ 131,854	$ 129,333

LEASES - Operating Lease Liabil

LEASES - Operating Lease Liability Maturity (Details) $ in Thousands	May 31, 2022 USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	$ 95,246
2023	165,178
2024	127,513
2025	81,987
2026	36,444
Thereafter	25,434
Total payments	531,802
Less: imputed interest	53,261
Total present value of lease payments	$ 478,541

LEASES - Operating Lease ROU As

LEASES - Operating Lease ROU Assets and Liabilities (Details) - USD ($) $ in Thousands	May 31, 2022	Nov. 30, 2021
Leases [Abstract]
Operating lease ROU assets	$ 461,760	$ 489,171
Current operating lease liabilities	152,418	153,329
Non-current operating lease liabilities	$ 326,123	$ 354,471
Operating lease, right-of-use asset, statement of financial position	Other assets	Other assets
Operating lease, liability, current, statement of financial position	Other accrued liabilities	Other accrued liabilities
Operating Lease, liability, noncurrent, statement of financial position	Other long-term liabilities	Other long-term liabilities

LEASES - Operating Lease Supple

LEASES - Operating Lease Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	May 31, 2022	May 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 100,857	$ 107,926
Non-cash ROU assets obtained in exchange for lease liabilities	$ 68,238	$ 76,374

LEASES - Operating Lease Weight

LEASES - Operating Lease Weighted Average Remaining Lease Term and Discount Rate (Details)	May 31, 2022	Nov. 30, 2021
Leases [Abstract]
Weighted-average remaining lease term (years)	3 years 7 months 17 days	3 years 9 months 21 days
Weighted-average discount rate	5.38%	5.82%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	6 Months Ended
	Jun. 29, 2022	Mar. 29, 2022	Jan. 18, 2022	Sep. 27, 2021	Jun. 30, 2022	May 31, 2022	Sep. 30, 2021
Equity [Abstract]
Stock Repurchase Program, Authorized Amount							$ 500,000
Common Stock, Dividends, Per Share, Cash Paid		$ 0.25	$ 0.25	$ 0.25
Stock Repurchase Program, Remaining Authorized Repurchase Amount						$ 417,055
Stock Repurchased During Period, Value						$ 57,850
Subsequent Event [Line Items]
Stock Repurchased During Period, Shares						367,000
Stock Repurchased During Period, Value						$ 57,850
Subsequent Event
Equity [Abstract]
Stock Repurchased During Period, Value					$ 13,764
Subsequent Event [Line Items]
Common stock quarterly dividend declared (in dollars per share)	$ 0.25
Stock Repurchased During Period, Shares					92,000
Stock Repurchased During Period, Value					$ 13,764