Balance Sheet Components

9 Months Ended

Aug. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

NOTE 6—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, 2019		November 30, 2018
Cash and cash equivalents	$	262,279	$	454,694
Restricted cash included in other current assets		5,126		7,126
Restricted cash included in other assets		—		213
Cash, cash equivalents and restricted cash	$	267,405	$	462,033

Restricted cash balances relate primarily to temporary restrictions caused by the timing of lockbox collections under borrowing arrangements, the issuance of bank guarantees and a government grant.

Accounts receivable, net:

	As of
	August 31, 2019			November 30, 2018
				(As adjusted)
Accounts receivable	$	3,477,932		$	3,648,975
Less: Allowance for doubtful accounts		(24,956	)		(8,479	)
Accounts receivable, net	$	3,452,976		$	3,640,496

Receivables from vendors, net:

	As of
	August 31, 2019			November 30, 2018
				(As adjusted)
Receivables from vendors	$	341,760		$	357,930
Less: Allowance for doubtful accounts		(3,445	)		(6,186	)
Receivables from vendors, net	$	338,315		$	351,744

Property and equipment, net:

	As of
	August 31, 2019			November 30, 2018
Land	$	40,732		$	31,102
Equipment, computers and software		488,223			423,467
Furniture and fixtures		111,028			104,474
Buildings, building improvements and leasehold improvements		413,013			368,107
Construction-in-progress		8,191			29,021
Total property and equipment, gross	$	1,061,188			956,170
Less: Accumulated depreciation		(508,284	)		(384,844	)
Property and equipment, net	$	552,904		$	571,326

Depreciation expense was $39,124 and $123,242 for the three and nine months ended August 31, 2019, respectively, and $22,511 and $67,031 for the three and nine months ended August 31, 2018, respectively.

Goodwill:

	Technology Solutions			Concentrix		Total
Balance as of November 30, 2018	$	427,775		$	1,775,541	$	2,203,316
Additions/adjustments from acquisitions (See Note 4)		—			9,496		9,496
Foreign exchange translation		(2,125	)		3,429		1,304
Balance as of August 31, 2019	$	425,650		$	1,788,465	$	2,214,115

Intangible assets, net:

	As of August 31, 2019							As of November 30, 2018
	Gross Amounts		Accumulated Amortization			Net Amounts		Gross Amounts		Accumulated Amortization			Net Amounts
Customer relationships and lists	$	1,536,327	$	(470,927	)	$	1,065,400	$	1,552,322	$	(333,266	)	$	1,219,056
Vendor lists		178,524		(63,539	)		114,985		179,019		(53,318	)		125,701
Technology		14,707		(8,506	)		6,200		14,767		(7,064	)		7,704
Other intangible assets		35,266		(13,543	)		21,723		35,559		(10,715	)		24,844
	$	1,764,824	$	(556,515	)	$	1,208,308	$	1,781,667	$	(404,363	)	$	1,377,305

Amortization expense was $52,428 and $158,150, for the three and nine months ended August 31, 2019, respectively, and $26,197 and $79,183 for the three and nine months ended August 31, 2018, respectively.

Estimated future amortization expense of the Company's intangible assets is as follows:

Fiscal years ending November 30,
2019 (remaining three months)	$	41,946
2020		188,570
2021		173,532
2022		150,213
2023		131,762
Thereafter		522,286
Total	$	1,208,308

Accumulated other comprehensive income (loss):

The components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes, are as follows:

	Unrecognized gains (losses) on defined benefit plan, net of taxes			Unrealized gains (losses) on cash flow hedges, net of taxes			Foreign currency translation adjustment and other, net of taxes			Total
Balance as of November 30, 2018	$	(3,263	)	$	16,920		$	(139,945	)	$	(126,288	)
Opening balance adjustment for the adoption of new accounting guidance		—			—			(1,955	)		(1,955	)
Other comprehensive income (loss) before reclassification		307			(71,414	)		(26,334	)		(97,441	)
Reclassification of (gains) losses from Other comprehensive income (loss)		—			(9,387	)		—			(9,387	)
Balance as of August 31, 2019	$	(2,956	)	$	(63,881	)	$	(168,234	)	$	(235,070	)

Refer to Note 7 for the location of gains and losses reclassified from other comprehensive income (loss) to the Consolidated Statements of Operations.

Foreign currency translation adjustment and other, net of taxes, is comprised of foreign currency translation adjustment and unrealized gains and losses on available-for-sale debt securities. Substantially, all of the balance at both November 30, 2018 and August 31, 2019 represents foreign currency translation adjustment.