Concentrix Corp
For the period ended Nov 30, 2023. Filed Jan 29, 2024.
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FY2023 · Filed Jan 29, 2024
CNXC$31.96+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Years Ended November 30, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income before non-controlling interest | $313,842 | $435,640 | $405,577 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 173,463 | 146,864 | 140,236 |
| Amortization | 214,832 | 162,673 | 136,939 |
| Non-cash share-based compensation | 62,113 | 47,142 | 36,176 |
| Provision for doubtful accounts | 10,236 | 3,329 | (202) |
| Deferred income taxes | (121,711) | (30,824) | (25,729) |
| Unrealized foreign exchange loss (gain) | — | 374 | (305) |
| Loss on call options | 14,629 | — | — |
| Amortization of debt issuance costs | 6,089 | 1,771 | 1,653 |
| Pension and other post-retirement benefit costs | 11,328 | 9,437 | 13,427 |
| Pension and other post-retirement plan contributions | (12,143) | (12,776) | (14,563) |
| Gain on divestitures and related transaction costs | — | — | (13,197) |
| Change in acquisition contingent consideration | 15,681 | — | — |
| Other | 306 | 537 | 140 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (45,895) | (53,129) | (139,104) |
| Payable to former parent | — | — | (22,825) |
| Accounts payable | 9,341 | 14,626 | (4,546) |
| Other operating assets and liabilities | 25,897 | (124,944) | 501 |
| Net cash provided by operating activities | 678,008 | 600,720 | 514,178 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (180,532) | (140,018) | (149,079) |
| Premiums paid for call options | (14,629) | — | — |
| Acquisitions of business, net of cash and restricted cash acquired | (1,914,079) | (1,698,261) | (3,279) |
| Proceeds from divestitures, net of cash sold | — | — | 73,708 |
| Other investments | — | (1,000) | — |
| Net cash used in investing activities | (2,109,240) | (1,839,279) | (78,650) |
| Cash flows from financing activities: | |||
| Proceeds from the Restated Credit Facility - Term Loan | 294,702 | — | — |
| Repayments of the Restated Credit Facility - Term Loan | (194,702) | — | — |
| Proceeds from the Prior Credit Facility - Term Loan | — | 2,100,000 | — |
| Repayments of the Prior Credit Facility - Term Loan | (25,000) | (225,000) | — |
| Repayments of the original credit facility - original term loan | — | (700,000) | (200,000) |
| Proceeds from the Securitization Facility | 1,964,000 | 1,831,000 | 1,316,000 |
| Repayments of the Securitization Facility | (2,192,000) | (1,579,500) | (1,461,000) |
| Proceeds from the issuance of Senior Notes | 2,136,987 | — | — |
| Cash paid for debt issuance costs | (30,519) | (9,331) | — |
| Purchase of non-controlling interest in subsidiary | — | (2,500) | — |
| Cash paid for acquired earnout liabilities | (13,309) | — | — |
| Proceeds from exercise of stock options | 7,201 | 9,588 | 13,697 |
| Repurchase of common stock for tax withholdings on equity awards | (17,231) | (12,474) | (32,390) |
| Repurchase of common stock | (63,958) | (120,819) | (25,096) |
| Dividends paid | (63,495) | (53,430) | (13,082) |
| Net cash provided by (used in) financing activities | 1,802,676 | 1,237,534 | (401,871) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (12,420) | (24,522) | (6,998) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 359,024 | (25,547) | 26,659 |
| Cash, cash equivalents and restricted cash at beginning of year | 157,463 | 183,010 | 156,351 |
| Cash, cash equivalents and restricted cash at end of year | $516,487 | $157,463 | $183,010 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Years Ended November 30, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosures of cash flow information: | |||
| Interest paid on borrowings | $142,598 | $67,601 | $20,775 |
| Income taxes paid | $217,252 | $143,865 | $159,826 |
| Supplemental disclosure of non-cash investing activities: | |||
| Accrued costs for property and equipment purchases | $26,374 | $12,675 | $16,251 |
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