2024 Q1 Form 10-K Financial Statement

#000135201024000008 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.165B $1.157B $4.691B
YoY Change -3.76% -6.01% -2.78%
Cost Of Revenue $834.3M $797.6M $3.257B
YoY Change -2.52% -4.21% -0.92%
Gross Profit $331.1M $359.6M $1.434B
YoY Change -6.73% -9.77% -6.76%
Gross Profit Margin 28.41% 31.08% 30.57%
Selling, General & Admin $198.5M $214.0M $815.1M
YoY Change -6.34% 4.4% -6.61%
% of Gross Profit 59.93% 59.5% 56.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.15M $23.16M $68.20M
YoY Change -2.79% 0.05% -1.16%
% of Gross Profit 6.69% 6.44% 4.76%
Operating Expenses $198.5M $237.1M $815.1M
YoY Change -6.34% 3.96% -6.61%
Operating Profit $110.5M $122.5M $501.2M
YoY Change -8.17% -28.15% -12.52%
Interest Expense $13.12M $4.909M $35.35M
YoY Change 89.83% -84.0% -153.79%
% of Operating Profit 11.87% 4.01% 7.05%
Other Income/Expense, Net
YoY Change
Pretax Income $123.7M $127.4M $536.6M
YoY Change -2.85% -36.67% 5.78%
Income Tax $7.412M $29.85M $119.5M
% Of Pretax Income 5.99% 23.43% 22.27%
Net Earnings $116.2M $97.55M $417.1M
YoY Change 13.64% -37.08% -0.56%
Net Earnings / Revenue 9.97% 8.43% 8.89%
Basic Earnings Per Share $2.01 $7.21
Diluted Earnings Per Share $1.97 $1.66 $7.06
COMMON SHARES
Basic Shares Outstanding 57.83M shares 57.70M shares 57.83M shares
Diluted Shares Outstanding 58.93M shares 59.09M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.045B $2.097B $2.097B
YoY Change 13.02% 20.4% 20.4%
Cash & Equivalents $1.984B $2.036B $2.036B
Short-Term Investments $61.63M $60.74M $60.74M
Other Short-Term Assets $106.4M $97.36M $97.36M
YoY Change 22.64% 14.11% 14.11%
Inventory
Prepaid Expenses
Receivables $931.4M $897.0M $897.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.083B $3.091B $3.091B
YoY Change 8.91% 12.02% 12.02%
LONG-TERM ASSETS
Property, Plant & Equipment $222.2M $235.1M $370.0M
YoY Change -16.78% -14.01% -12.36%
Goodwill $595.2M $562.5M
YoY Change 11.52% 6.31%
Intangibles $80.76M $71.12M
YoY Change 10.45% -8.41%
Long-Term Investments
YoY Change
Other Assets $59.98M $59.58M $257.5M
YoY Change 14.95% 24.43% 16.68%
Total Long-Term Assets $1.291B $1.261B $1.261B
YoY Change 4.1% 0.92% 0.92%
TOTAL ASSETS
Total Short-Term Assets $3.083B $3.091B $3.091B
Total Long-Term Assets $1.291B $1.261B $1.261B
Total Assets $4.375B $4.352B $4.352B
YoY Change 7.45% 8.56% 8.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.25M $31.99M $31.99M
YoY Change -5.58% 3.7% 3.7%
Accrued Expenses $562.9M $574.1M $574.1M
YoY Change -3.1% -9.11% -6.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $658.5M $644.9M $644.9M
YoY Change -3.56% -13.72% -13.72%
LONG-TERM LIABILITIES
Long-Term Debt $25.79M $26.13M $26.13M
YoY Change -8.73% -5.66% -5.66%
Other Long-Term Liabilities $104.2M $100.6M $209.8M
YoY Change -6.86% -7.43% -9.15%
Total Long-Term Liabilities $130.0M $126.7M $236.0M
YoY Change -7.23% -7.07% -8.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $658.5M $644.9M $644.9M
Total Long-Term Liabilities $130.0M $126.7M $236.0M
Total Liabilities $898.9M $880.9M $881.5M
YoY Change -4.46% -12.45% -12.52%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $58.00K $58.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.475B $3.471B $3.471B
YoY Change
Total Liabilities & Shareholders Equity $4.375B $4.352B $4.352B
YoY Change 7.45% 8.56% 8.56%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $116.2M $97.55M $417.1M
YoY Change 13.64% -37.08% -0.56%
Depreciation, Depletion And Amortization $22.15M $23.16M $68.20M
YoY Change -2.79% 0.05% -1.16%
Cash From Operating Activities $129.9M $171.3M $562.6M
YoY Change 48.76% -7.92% 21.23%
INVESTING ACTIVITIES
Capital Expenditures $6.749M $10.02M $28.42M
YoY Change -14.71% -53.41% -65.19%
Acquisitions $44.14M $24.82M
YoY Change 133.15%
Other Investing Activities -$1.005M -$10.65M $7.767M
YoY Change -112.72% 10.46% -73.24%
Cash From Investing Activities -$50.99M -$20.67M -$66.77M
YoY Change 187.8% -33.63% -63.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $164.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$112.1M -22.37M -$165.8M
YoY Change 631.69% -378.1% 8102.52%
NET CHANGE
Cash From Operating Activities $129.9M 171.3M $562.6M
Cash From Investing Activities -$50.99M -20.67M -$66.77M
Cash From Financing Activities -$112.1M -22.37M -$165.8M
Net Change In Cash -$52.71M 128.3M $359.5M
YoY Change -177.1% -21.28% 53.43%
FREE CASH FLOW
Cash From Operating Activities $129.9M $171.3M $562.6M
Capital Expenditures $6.749M $10.02M $28.42M
Free Cash Flow $123.2M $161.3M $534.2M
YoY Change 55.09% -1.98% 39.67%

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<div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> — The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions. These estimates and assumptions affect reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as revenues and expenses during the reporting period. The Company bases its estimates and judgments on historical experience, knowledge of current conditions and its beliefs of what could occur in the future, given available information. Actual results could differ from those estimates, and such differences may be material to the financial statements.</span></div>
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3772000 usd
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167095000 usd
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235053000 usd
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273348000 usd
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39852000 usd
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36036000 usd
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9650000 usd
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52862000 usd
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AccruedLiabilitiesAndOtherLiabilities
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66582000 usd
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67436000 usd
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54344000 usd
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18063000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
35048000 usd
CY2023 epam Rightof Use Asset Modified Operating Lease
RightofUseAssetModifiedOperatingLease
7595000 usd
CY2022 epam Rightof Use Asset Modified Operating Lease
RightofUseAssetModifiedOperatingLease
-2934000 usd
CY2023 epam Operating Lease Liability Modification
OperatingLeaseLiabilityModification
9198000 usd
CY2022 epam Operating Lease Liability Modification
OperatingLeaseLiabilityModification
-4254000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
41495000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
34529000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
28579000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
19173000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
16477000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
19732000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
159985000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14166000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
145819000 usd
CY2023Q4 us-gaap Other Commitment
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9900000 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
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31400000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
29000000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
21300000 usd
CY2023 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
9400000 usd
CY2022 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
8300000 usd
CY2021 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
5500000 usd
CY2023Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
15910000 usd
CY2022Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
10625000 usd
CY2022Q4 us-gaap Restructuring Reserve
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0 usd
CY2023 us-gaap Restructuring Charges
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28990000 usd
CY2023 us-gaap Payments For Restructuring
PaymentsForRestructuring
22024000 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
6966000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
CY2023 us-gaap Restructuring Charges
RestructuringCharges
28990000 usd
CY2023 us-gaap Payments For Restructuring
PaymentsForRestructuring
22024000 usd
CY2023Q4 us-gaap Restructuring Reserve
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6966000 usd
CY2023Q4 us-gaap Restructuring And Related Cost Expected Cost Remaining1
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2300000 usd
CY2023 epam Number Of Geographic Markets
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4 business
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4690540000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4824698000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3758144000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4690540000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4824698000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3758144000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4690540000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4824698000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3758144000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4690540000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4824698000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3758144000 usd
CY2023 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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5800000 usd
CY2022 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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7500000 usd
CY2021 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
18700000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
30600000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
35400000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
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147730000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
99909000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
111655000 usd
CY2012Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.502
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.467
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.353
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M23D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M26D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M26D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.036
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.026
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.012
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q4 us-gaap Share Price
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248.23
CY2022Q4 us-gaap Share Price
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315.60
CY2021Q4 us-gaap Share Price
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659.65
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
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500000000 usd
CY2023Q1 us-gaap Stock Repurchase Program Period In Force1
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P24M
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
686000 shares
CY2023 us-gaap Treasury Stock Value Acquired Cost Method
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164900000 usd
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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335100000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
210875000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
78564000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
128498000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
325710000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
428694000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
404894000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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536585000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
507258000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
533392000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
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54763000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
20044000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
22742000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
15922000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
10116000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6735000 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
86012000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
99847000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
69162000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-20519000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-11470000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
119502000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
87842000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51740000 usd
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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1563000000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
112690000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
106514000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
112016000 usd
CY2023 epam Income Tax Reconciliation Gilt Iand Beatus Taxes
IncomeTaxReconciliationGILTIandBEATUSTaxes
391000 usd
CY2022 epam Income Tax Reconciliation Gilt Iand Beatus Taxes
IncomeTaxReconciliationGILTIandBEATUSTaxes
355000 usd
CY2021 epam Income Tax Reconciliation Gilt Iand Beatus Taxes
IncomeTaxReconciliationGILTIandBEATUSTaxes
229000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-19829000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-35119000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-71628000 usd
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
5208000 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
4902000 usd
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-206000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
4210000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
7812000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
4756000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
12347000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
9323000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
9192000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
5869000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
3869000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1102000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1824000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2876000 usd
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
4100000 usd
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
2549000 usd
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
1326000 usd
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
379000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
119502000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
87842000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51740000 usd
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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0.223
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.173
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.097
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
2400000 usd
CY2023 epam Effective Income Tax Rate Reconciliation Foreign Losses
EffectiveIncomeTaxRateReconciliationForeignLosses
3200000 usd
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
19800000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
35100000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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71600000 usd
CY2023Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
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13359000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
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11587000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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77757000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
87816000 usd
CY2023Q4 epam Deferred Tax Assets Accrued Sales Discounts
DeferredTaxAssetsAccruedSalesDiscounts
11148000 usd
CY2022Q4 epam Deferred Tax Assets Accrued Sales Discounts
DeferredTaxAssetsAccruedSalesDiscounts
9185000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
36488000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
33078000 usd
CY2023Q4 epam Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
40549000 usd
CY2022Q4 epam Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
43662000 usd
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
77601000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
36915000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Contingencies
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
13762000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Contingencies
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
14030000 usd
CY2023Q4 epam Deferred Tax Asset Unrealized Currency Loss And Other Comprehensive Loss
DeferredTaxAssetUnrealizedCurrencyLossAndOtherComprehensiveLoss
2688000 usd
CY2022Q4 epam Deferred Tax Asset Unrealized Currency Loss And Other Comprehensive Loss
DeferredTaxAssetUnrealizedCurrencyLossAndOtherComprehensiveLoss
11284000 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
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27149000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
19955000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
300501000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
267512000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7622000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6728000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
292879000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
260784000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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13590000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
15324000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
27914000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
24523000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
39551000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
42211000 usd
CY2023Q4 epam Deferred Tax Liability Disregarded Foreign Subsidiaries
DeferredTaxLiabilityDisregardedForeignSubsidiaries
13955000 usd
CY2022Q4 epam Deferred Tax Liability Disregarded Foreign Subsidiaries
DeferredTaxLiabilityDisregardedForeignSubsidiaries
11465000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
8711000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
7232000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
103721000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
100755000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
189158000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
160029000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1500000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
700000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7865000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8155000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3317000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3307000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
4739000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
5310000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
393000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
716000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2447000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1350000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
47000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
6945000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
438000 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1121000 usd
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1298000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
68000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
197000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
524000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11471000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7865000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8155000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
417083000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
419416000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
481652000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
417083000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
417083000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
419416000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
419416000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
481652000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
481652000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57829000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57291000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56511000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1256000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1878000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2553000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59085000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59169000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59064000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.21
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.32
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.52
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.06
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.09
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.15
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
415000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
264000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32000 shares
CY2023Q4 us-gaap Purchase Obligation
PurchaseObligation
51400000 usd
CY2023Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
18300000 usd
CY2023Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
16600000 usd
CY2023Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
16500000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4690540000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4824698000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3758144000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
501239000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
572966000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
542316000 usd
CY2023 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
51124000 usd
CY2022 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
10025000 usd
CY2021 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-1727000 usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-15778000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-75733000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-7197000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
536585000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
507258000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
533392000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
235053000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
273348000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
236214000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4690540000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4824698000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3758144000 usd

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