Genpact LTD
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 3, 2025
G$43.07+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2022 | 2023 | 2024 | |
| Operating activities | |||
| Net income | $353,404 | $631,255 | $513,670 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 86,849 | 72,530 | 69,778 |
| Amortization of debt issuance costs (including loss on extinguishment of debt) | 2,376 | 1,967 | 2,412 |
| Amortization of acquired intangible assets | 42,667 | 31,463 | 26,476 |
| Write-down of intangible assets and property, plant and equipment | 1,377 | — | — |
| Impairment charge on assets classified as held for sale | 32,575 | — | — |
| Loss on sale of business classified as held for sale (refer to Note 8) | — | 802 | — |
| Allowance for credit losses | 1,583 | 3,979 | 13,806 |
| Unrealized loss/(gain) on revaluation of foreign currency asset/liability | 525 | (1,061) | (11,354) |
| Stock-based compensation expense | 77,373 | 88,576 | 66,383 |
| Deferred tax expense (benefit) | (29,151) | (157,932) | 36,610 |
| Write-down of operating right-of-use assets and other assets | 20,307 | — | — |
| Others, net | 863 | 1,477 | (2,179) |
| Change in operating assets and liabilities: | |||
| (Increase) in accounts receivable | (112,341) | (130,791) | (96,555) |
| (Increase) decrease in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets | 3,822 | (39,075) | (73,512) |
| Increase (decrease) in accounts payable | 14,185 | (8,215) | 8,733 |
| Increase (decrease) in accrued expenses, other current liabilities, operating lease liabilities and other liabilities | (54,329) | 1,862 | 63,340 |
| Increase (decrease) in income taxes payable | 1,585 | (6,025) | (2,184) |
| Net cash provided by operating activities | $443,670 | $490,812 | $615,424 |
| Investing activities | |||
| Purchase of property, plant and equipment | (50,614) | (55,421) | (82,766) |
| Payment for internally generated intangible assets (including intangibles under development) | (3,775) | (3,356) | (2,469) |
| Purchase of short term investments | — | — | (23,359) |
| Proceeds from sale of property, plant and equipment | 60 | 25 | 2,635 |
| Payment for business acquisitions, net of cash acquired | (33) | (682) | — |
| Proceeds from/(payment) for divestiture of business | 17,769 | (19,510) | — |
| Net cash used for investing activities | $(36,593) | $(78,944) | $(105,959) |
| Financing activities | |||
| Repayment of finance lease obligations | (12,810) | (12,165) | (11,358) |
| Payment of debt issuance and refinancing costs | (3,045) | — | (4,165) |
| Proceeds from long-term debt | 239,130 | — | 400,000 |
| Repayment of long-term debt | (620,130) | (19,875) | (433,125) |
| Proceeds from short-term borrowings | 261,000 | 148,000 | 50,000 |
| Repayment of short-term borrowings | (110,000) | (289,000) | (60,000) |
| Proceeds from issuance of common shares under stock-based compensation plans | 27,751 | 39,485 | 17,215 |
| Payment for net settlement of stock-based awards | (44,942) | (21,529) | (22,278) |
| Payment of earn-out consideration | (2,437) | (2,399) | — |
| Dividend paid | (91,837) | (100,014) | (108,466) |
| Payment for stock repurchased and retired (including expenses related to stock repurchased) | (214,082) | (225,499) | (252,671) |
| Net cash used for financing activities | $(571,402) | $(482,996) | $(424,848) |
| Effect of exchange rate changes | (88,368) | 8,033 | (20,041) |
| Net increase (decrease) in cash and cash equivalents | (164,325) | (71,128) | 84,617 |
| Cash and cash equivalents at the beginning of the period | 899,458 | 646,765 | 583,670 |
| Cash and cash equivalents at the end of the period | $646,765 | $583,670 | $648,246 |
| Supplementary information | |||
| Cash paid during the period for interest (including interest rate swaps) | $51,147 | $47,989 | $68,913 |
| Cash paid during the period for income taxes, net of refunds | $145,979 | $156,733 | $113,629 |
| Property, plant and equipment acquired under finance lease obligations | $7,078 | $2,459 | $11,483 |
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