v3.26.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Feb. 28, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS:
Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels:
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
The following table summarizes the valuation of the Company’s investments and financial instruments that are measured at fair value on a recurring basis:
As of February 28, 2026
As of November 30, 2025
Fair value measurement category
Fair value measurement category
Total
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Assets measured at fair value:
Cash and cash equivalents, including cash held for sale
$
234,003 
$
234,003 
$
— 
$
— 
$
329,404 
$
329,404 
$
— 
$
— 
Restricted cash, including restricted cash held for sale
181,509 
181,509 
— 
— 
191,723 
191,723 
— 
— 
Forward foreign currency exchange contracts
7,021 
— 
7,021 
— 
914 
— 
914 
— 
Cross-currency interest rate swaps
— 
— 
— 
— 
5,343 
— 
5,343 
— 
Liabilities measured at fair value:
Forward foreign currency exchange contracts
13,993 
— 
13,993 
— 
21,424 
— 
21,424 
— 
Cross-currency interest rate swaps
69,114 
— 
69,114 
— 
49,319 
— 
49,319 
— 
Interest rate swaps
5,065 
— 
5,065 
— 
3,357 
— 
3,357 
— 
Acquisition contingent consideration
6,513 
— 
— 
6,513 
7,866 
— 
— 
7,866 
Liabilities measured at other than fair value:
Long-term debt (senior notes)
Fair value
2,132,795 
— 
2,132,795 
— 
2,184,727 
— 
2,184,727 
— 
Carrying amount
2,136,739 
— 
— 
— 
2,139,537 
— 
— 
— 
The Company’s cash and cash equivalents, including cash held for sale, consist primarily of cash on hand, including bank deposits, money market fund securities, 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. Restricted cash balances, including restricted cash held for sale, relate primarily to funds held for clients. The carrying values of restricted cash balances approximate fair value since they are highly liquid and short-term in nature. The Company does not adjust the quoted market price for such financial instruments. The fair values of forward exchange contracts are measured based on the foreign currency spots, forward rates, and volatility. Fair values of long-term foreign currency exchange contracts are measured using valuations based upon quoted prices for similar assets and liabilities in active markets and are valued by reference to similar financial instruments, adjusted for terms specific to the contracts. The fair values of the cross-currency interest rate swaps are determined using a market approach that is based on observable inputs other than quoted market prices, including contract terms, interest rates, currency rates, and other market factors. The estimated fair value of the acquisition contingent consideration is determined using a Monte-Carlo simulation model. The inputs include the closing price of Concentrix common stock as of the reporting period end date, Concentrix-specific historical equity volatility, and the risk-free rate. The inputs for this liability are unobservable, and therefore, are classified within Level 3 of the fair value hierarchy. Changes in the fair value of this liability are recorded in other expense (income), net on the consolidated statement of operations.
The effect of nonperformance risk on the fair value of derivative instruments was not material as of February 28, 2026 and November 30, 2025.

The carrying values of 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 loans under the Company’s senior credit facility and the outstanding balance on the Company’s accounts receivable securitization facility (the “Securitization Facility”) approximate their fair values since they bear interest rates that are similar to existing market rates. The fair values of the 2026 Notes, 2028 Notes, 2029 Notes, and 2033 Notes (as defined in Note 8) are based on quoted prices in active markets and are classified within Level 2 of the fair value hierarchy. The Company does not adjust the quoted market prices for such financial instruments.
During the three months ended February 28, 2026 and 2025, there were no transfers between the fair value measurement category levels.