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 consideration1,594,905 
Non-cash equity consideration for conversion of PK equity awards (5)
15,725 
Total consideration transferred1,610,630 
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 receivable86,955 
Property and equipment11,198 
Operating lease right-of-use assets12,288 
Identifiable intangible assets469,300 
Goodwill1,126,111 
Other assets11,954 
Total assets acquired$1,747,459 
Liabilities assumed and non-controlling interest:
Accounts payable and accrued liabilities68,438 
Operating lease liabilities12,288 
Deferred tax liabilities54,103 
Non-controlling interest2,000 
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 AmountWeighted-Average Useful Life
Customer relationships$398,600 15 years
Technology63,500 5 years
Trade name5,000 3 years
Non-compete agreements2,200 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 EndedSix Months Ended
May 31, 2022May 31, 2022
Revenue$123,963 $207,159 
Income before income taxes2,773 2,980 
The supplemental pro forma financial information for the periods presented is as follows:

Three Months EndedSix Months Ended
May 31,May 31,
2022202120222021
Revenue$1,568,101 $1,479,640 $3,137,114 $2,928,392 
Net income 113,438 81,618 219,789 165,853