Concentrix Corp
For the period ended Nov 30, 2024. Filed Jan 28, 2025.
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FY2024 · Filed Jan 28, 2025
CNXC$31.96+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows for
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Years Ended November 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income before non-controlling interest | $251,217 | $313,842 | $435,640 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 246,920 | 173,463 | 146,864 |
| Amortization | 458,925 | 214,832 | 162,673 |
| Non-cash share-based compensation | 96,057 | 62,113 | 47,142 |
| Provision for doubtful accounts | 7,057 | 10,236 | 3,329 |
| Deferred income taxes | (235,248) | (121,711) | (30,824) |
| Unrealized foreign exchange loss | — | — | 374 |
| Loss on call options | — | 14,629 | — |
| Amortization of debt discount and issuance costs | 25,276 | 6,089 | 1,771 |
| Pension and other post-retirement benefit costs | 16,097 | 11,328 | 9,437 |
| Pension and other post-retirement plan contributions | (4,442) | (12,143) | (12,776) |
| Change in acquisition contingent consideration | (29,268) | 15,681 | — |
| Other | 1,791 | 306 | 537 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (63,851) | (45,895) | (53,129) |
| Accounts payable | (25,819) | 9,341 | 14,626 |
| Other operating assets and liabilities | (77,220) | 25,897 | (124,944) |
| Net cash provided by operating activities | 667,492 | 678,008 | 600,720 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (238,762) | (180,532) | (140,018) |
| Premiums paid for call options | — | (14,629) | — |
| Acquisitions of business, net of cash and restricted cash acquired | (5,504) | (1,914,079) | (1,698,261) |
| Other investments | — | — | (1,000) |
| Net cash used in investing activities | (244,266) | (2,109,240) | (1,839,279) |
| Cash flows from financing activities: | |||
| Proceeds from the Restated Credit Facility - Term Loan | — | 294,702 | — |
| Repayments of the Restated Credit Facility - Term Loan | (450,000) | (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) |
| Proceeds from the Securitization Facility | 2,191,000 | 1,964,000 | 1,831,000 |
| Repayments of the Securitization Facility | (1,948,500) | (2,192,000) | (1,579,500) |
| Proceeds from the issuance of Senior Notes | — | 2,136,987 | — |
| Other debt proceeds | 6,369 | — | — |
| Other debt repayments | (7,558) | — | — |
| Cash paid for debt issuance costs | (600) | (30,519) | (9,331) |
| Purchase of non-controlling interest in subsidiary | — | — | (2,500) |
| Cash paid for acquired earnout liabilities | (22,737) | (13,309) | — |
| Proceeds from exercise of stock options | 5,030 | 7,201 | 9,588 |
| Repurchase of common stock for tax withholdings on equity awards | (13,385) | (17,231) | (12,474) |
| Repurchase of common stock | (136,096) | (63,958) | (120,819) |
| Dividends paid | (83,807) | (63,495) | (53,430) |
| Change in funds held for clients | (32,248) | — | — |
| Net cash provided by (used in) financing activities | (492,532) | 1,802,676 | 1,237,534 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (17,577) | (12,420) | (24,522) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (86,883) | 359,024 | (25,547) |
| Cash, cash equivalents and restricted cash at beginning of year | 516,487 | 157,463 | 183,010 |
| Cash, cash equivalents and restricted cash at end of year | $429,604 | $516,487 | $157,463 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Years Ended November 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosures of cash flow information: | |||
| Interest paid on borrowings | $282,270 | $142,598 | $67,601 |
| Income taxes paid | $298,445 | $217,252 | $143,865 |
| Supplemental disclosure of non-cash investing activities: | |||
| Accrued costs for property and equipment purchases | $24,856 | $26,374 | $12,675 |
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