v3.25.2
BALANCE SHEET COMPONENTS
 9 Months Ended
Aug. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
BALANCE SHEET COMPONENTS BALANCE SHEET COMPONENTS:
Cash, cash equivalents and restricted cash:

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows:
As of
August 31, 2025November 30, 2024
Cash and cash equivalents$350,259 $240,571 
Restricted cash included in other current assets188,227 189,033 
Cash, cash equivalents and restricted cash$538,486 $429,604 
Restricted cash balances relate primarily to funds held for clients, restrictions placed on cash deposits by banks as collateral for the issuance of bank guarantees and the terms of a government grant, and letters of credit for leases. Of the restricted cash balance, $178,558 and $179,949 related to funds held for clients as of August 31, 2025 and November 30, 2024, respectively. As of August 31, 2025 and November 30, 2024, the Company has a corresponding current liability recorded in other accrued liabilities on the consolidated balance sheet related to these funds.
Accounts receivable, net:
Accounts receivable, net is comprised of the following as of August 31, 2025 and November 30, 2024:
As of
August 31, 2025November 30, 2024
Billed accounts receivable$1,142,873 $1,080,778 
Unbilled accounts receivable928,433 860,266 
Less: Allowance for doubtful trade receivables
(19,386)(14,307)
Accounts receivable, net
$2,051,920 $1,926,737 
Allowance for doubtful trade receivables:
Presented below is a progression of the allowance for doubtful trade receivables:
Three Months EndedNine Months Ended
August 31, 2025August 31, 2024August 31, 2025August 31, 2024
Balance at beginning of period$19,561 $13,043 $14,307 $12,533 
Net additions
549 2,237 5,467 5,927 
Write-offs and reclassifications(724)(1,625)(388)(4,805)
Balance at end of period$19,386 $13,655 $19,386 $13,655 

Property and equipment, net:
The following table summarizes the carrying amounts and related accumulated depreciation for property and equipment as of August 31, 2025 and November 30, 2024:
As of
August 31, 2025November 30, 2024
Land$28,524 $28,235 
Equipment, computers, and software
971,045 853,558 
Furniture and fixtures169,498 151,477 
Buildings, building improvements, and leasehold improvements
688,257 617,880 
Construction-in-progress49,999 44,566 
Total property and equipment, gross$1,907,323 $1,695,716 
Less: Accumulated depreciation(1,174,017)(981,199)
Property and equipment, net
$733,306 $714,517 
Shown below are the countries where significant concentrations of the Company’s property and equipment, net are located as of August 31, 2025 and November 30, 2024:
As of
August 31, 2025November 30, 2024
Property and equipment, net:
United States$97,438 $118,732 
Philippines98,143 82,864 
France
58,425 59,645 
India53,506 49,339 
Others425,794 403,937 
Total$733,306 $714,517 
Goodwill:
The following table summarizes the changes in the Company’s goodwill for the nine months ended August 31, 2025 and August 31, 2024:
Nine Months Ended
August 31, 2025August 31, 2024
Balance at beginning of period$4,986,967 $5,078,668 
Acquisition
2,353 — 
Acquisition measurement period adjustments
— 31,641 
Foreign exchange translation202,245 (26,280)
Balance at end of period
$5,191,565 $5,084,029 
Intangible assets, net:
The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of August 31, 2025 and November 30, 2024:
As of August 31, 2025As of November 30, 2024
Gross amountsAccumulated amortizationNet amountsGross amountsAccumulated amortizationNet amounts
Customer relationships$3,758,923 $(1,738,596)$2,020,327 $3,594,694 $(1,399,588)$2,195,106 
Technology79,661 (60,642)19,019 79,645 (50,119)29,526 
Trade names124,415 (84,483)39,932 113,758 (51,503)62,255 
Non-compete agreements2,200 (2,200)— 2,200 (2,147)53 
$3,965,199 $(1,885,921)$2,079,278 $3,790,297 $(1,503,357)$2,286,940 
Estimated future amortization expense of the Company’s intangible assets is as follows:
Fiscal years ending November 30,
2025 (remaining three months)$107,898 
2026395,769 
2027298,791 
2028253,273 
2029210,803 
Thereafter812,744 
Total$2,079,278 
Accumulated other comprehensive income (loss):
The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, were as follows:
Three Months Ended August 31, 2025 and 2024
Unrecognized gains (losses) on
 defined benefit plan, net of taxes
Unrealized gains (losses) on
 hedges, net of taxes
Foreign currency translation
adjustments, net of taxes
Total
Balances at May 31, 2024$(9,997)$(20,390)$(279,708)$(310,095)
Other comprehensive income (loss) before reclassification
633 23,647 75,602 99,882 
Reclassification of losses from other comprehensive income (loss)
— 2,323 — 2,323 
Balances at August 31, 2024
$(9,364)$5,580 $(204,106)$(207,890)
Balances at May 31, 2025$(4,166)$5,740 $(224,606)$(223,032)
Other comprehensive income (loss) before reclassification
(14)(13,074)27,548 14,460 
Reclassification of gains from other comprehensive income (loss)
— (545)— (545)
Balances at August 31, 2025
$(4,180)$(7,879)$(197,058)$(209,117)
Nine Months Ended August 31, 2025 and 2024
Unrecognized gains (losses) on
 defined benefit plan, net of taxes
Unrealized gains (losses) on
 hedges, net of taxes
Foreign currency translation
adjustments, net of taxes
Total
Balances at November 30, 2023$(11,271)$4,489 $(184,945)$(191,727)
Other comprehensive income (loss) before reclassification
1,907 (1,300)(19,161)(18,554)
Reclassification of losses from other comprehensive income (loss)
— 2,391 — 2,391 
Balances at August 31, 2024
$(9,364)$5,580 $(204,106)$(207,890)
Balances at November 30, 2024$(5,283)$(25,881)$(383,149)$(414,313)
Other comprehensive income (loss) before reclassification
1,103 14,375 186,091 201,569 
Reclassification of gains from other comprehensive income (loss)
— 3,627— 3,627 
Balances at August 31, 2025
$(4,180)$(7,879)$(197,058)$(209,117)
Refer to Note 5—Derivative Instruments for the location of gains and losses on cash flow hedges reclassified from other comprehensive income (loss) to the consolidated statements of operations. Reclassifications of amortization of actuarial (gains) losses of defined benefit plans is recorded in “Other expense (income), net” in the consolidated statement of operations.