2014 Q4 Form 10-K Financial Statement

#000119312516480871 Filed on February 26, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $601.5M $588.1M $561.6M
YoY Change 7.71% 9.95% 5.01%
Cost Of Revenue $359.2M $354.5M $340.1M
YoY Change 3.88% 7.65% 2.23%
Gross Profit $242.3M $233.6M $221.5M
YoY Change 13.98% 13.64% 9.6%
Gross Profit Margin 40.29% 39.73% 39.44%
Selling, General & Admin $165.0M $153.1M $142.7M
YoY Change 23.04% 30.89% 20.53%
% of Gross Profit 68.09% 65.55% 64.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.20M $20.80M $19.30M
YoY Change 14.59% 10.05% -2.53%
% of Gross Profit 8.75% 8.9% 8.71%
Operating Expenses $176.1M $153.1M $142.7M
YoY Change 24.63% 30.89% 20.53%
Operating Profit $70.87M $72.87M $73.05M
YoY Change -1.07% -15.23% -6.33%
Interest Expense -$13.70M -$12.00M -$10.80M
YoY Change 34.31% -269.01% -221.35%
% of Operating Profit -19.33% -16.47% -14.78%
Other Income/Expense, Net $0.00 -$6.439M -$6.505M
YoY Change -100.0% 86.42% -38.28%
Pretax Income $62.79M $61.79M $62.75M
YoY Change 0.35% -33.81% -25.86%
Income Tax $12.20M $15.12M $13.85M
% Of Pretax Income 19.43% 24.48% 22.07%
Net Earnings $45.75M $46.65M $48.98M
YoY Change -6.33% -33.6% -23.31%
Net Earnings / Revenue 7.61% 7.93% 8.72%
Basic Earnings Per Share $0.20 $0.22 $0.23
Diluted Earnings Per Share $0.21 $0.21 $0.22
COMMON SHARES
Basic Shares Outstanding 217.3M shares 216.5M shares 217.5M shares
Diluted Shares Outstanding 221.4M shares 220.5M shares 221.5M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $461.8M $424.2M $376.8M
YoY Change -19.17% -14.99% -29.69%
Cash & Equivalents $461.8M $399.2M $376.8M
Short-Term Investments $130.6M $118.8M $78.80M
Other Short-Term Assets $7.772M $10.83M $233.2M
YoY Change 50.85% -95.51% 0.56%
Inventory
Prepaid Expenses $12.95M
Receivables $525.8M $533.8M $531.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.189B $1.206B $1.141B
YoY Change -6.87% -0.91% -8.17%
LONG-TERM ASSETS
Property, Plant & Equipment $175.9M $176.2M $176.3M
YoY Change 1.58% 4.63% -2.39%
Goodwill $1.057B $1.056B $1.072B
YoY Change 10.84% 11.11% 11.33%
Intangibles
YoY Change
Long-Term Investments $500.0K $500.0K $500.0K
YoY Change 25.0% 66.67% 66.67%
Other Assets $146.7M $123.8M $110.1M
YoY Change 50.68% 26.3% 3.96%
Total Long-Term Assets $1.554B $1.533B $1.547B
YoY Change 9.96% 7.45% 6.13%
TOTAL ASSETS
Total Short-Term Assets $1.189B $1.206B $1.141B
Total Long-Term Assets $1.554B $1.533B $1.547B
Total Assets $2.743B $2.739B $2.688B
YoY Change 1.98% 3.6% -0.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.54M $17.22M $17.49M
YoY Change -15.58% 12.66% 25.69%
Accrued Expenses $114.8M $107.3M $340.8M
YoY Change 15.94% -63.09% 16.55%
Deferred Revenue
YoY Change
Short-Term Debt $135.0M $165.0M $175.0M
YoY Change 52.17%
Long-Term Debt Due $4.288M $4.281M $4.275M
YoY Change 0.59% 0.59% 0.59%
Total Short-Term Liabilities $622.1M $671.5M $640.2M
YoY Change 34.75% 39.4% 13.92%
LONG-TERM LIABILITIES
Long-Term Debt $649.3M $650.4M $651.5M
YoY Change -0.66% -0.65% -0.65%
Other Long-Term Liabilities $179.3M $161.3M $182.3M
YoY Change -26.18% -45.86% -34.24%
Total Long-Term Liabilities $828.6M $811.7M $833.7M
YoY Change -7.57% -14.79% -10.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $622.1M $671.5M $640.2M
Total Long-Term Liabilities $828.6M $811.7M $833.7M
Total Liabilities $1.457B $1.491B $1.482B
YoY Change 6.75% 3.34% -1.42%
SHAREHOLDERS EQUITY
Retained Earnings $398.7M $353.0M $306.3M
YoY Change -22.08% -23.74% -21.98%
Common Stock $1.299B $2.162M $2.160M
YoY Change 56130.04% -6.0% -5.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.285B $1.249B $1.206B
YoY Change
Total Liabilities & Shareholders Equity $2.743B $2.739B $2.688B
YoY Change 1.98% 3.6% -0.45%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $45.75M $46.65M $48.98M
YoY Change -6.33% -33.6% -23.31%
Depreciation, Depletion And Amortization $21.20M $20.80M $19.30M
YoY Change 14.59% 10.05% -2.53%
Cash From Operating Activities $93.00M $85.70M $78.90M
YoY Change 18.62% -31.71% 3.54%
INVESTING ACTIVITIES
Capital Expenditures -$14.40M -$18.50M -$15.20M
YoY Change 22.03% 60.87% 38.18%
Acquisitions
YoY Change
Other Investing Activities $18.00M -$24.60M -$123.7M
YoY Change -14.29% 564.86% -123800.0%
Cash From Investing Activities $3.500M -$43.10M -$138.8M
YoY Change -62.37% 183.55% 1185.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $302.6M $302.6M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.80M -10.80M -136.7M
YoY Change -616.67% -90.33% 5843.48%
NET CHANGE
Cash From Operating Activities 93.00M 85.70M 78.90M
Cash From Investing Activities 3.500M -43.10M -138.8M
Cash From Financing Activities -24.80M -10.80M -136.7M
Net Change In Cash 71.70M 31.80M -196.6M
YoY Change -22.49% -2371.43% -411.57%
FREE CASH FLOW
Cash From Operating Activities $93.00M $85.70M $78.90M
Capital Expenditures -$14.40M -$18.50M -$15.20M
Free Cash Flow $107.4M $104.2M $94.10M
YoY Change 19.07% -23.94% 7.91%

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2543000
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10-K
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G
CY2015 dei Entity Voluntary Filers
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No
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170000 shares
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0001398659
CY2015 dei Document Period End Date
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2015-12-31
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CY2015 us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><i>(t) Reclassification</i></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Certain reclassifications have been made in the consolidated financial statements of prior periods to conform to the classification used in the current period. The impact of such reclassifications on the consolidated financial statements is not material.</font></p> </div>
CY2015 dei Entity Filer Category
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Large Accelerated Filer
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P0M
CY2015 us-gaap Common Stock Voting Rights
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2821000 shares
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125000 shares
CY2015 dei Current Fiscal Year End Date
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--12-31
CY2015 dei Document Fiscal Period Focus
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FY
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22.77
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0.0199 pure
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9867873 shares
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327441000
CY2015 dei Entity Current Reporting Status
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Yes
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1.11
CY2015 dei Amendment Flag
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false
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P60M
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Quarterly
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19.35
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9.49
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9.15
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2020-06-30
CY2015 dei Entity Registrant Name
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GENPACT LTD
CY2015 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>(b) Use of estimates</i></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant items subject to such estimates and assumptions include the useful lives of property, plant and equipment, intangibles and goodwill, revenue recognition, reserves for doubtful receivables, valuation allowances for deferred tax assets, the valuation of derivative financial instruments, measurements of stock-based compensation, assets and obligations related to employee benefits, and income tax uncertainties and other contingencies. Management believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Although these estimates are based upon management&#x2019;s best knowledge of current events and actions, actual results could differ from these estimates. Any changes in estimates are adjusted prospectively in the Company&#x2019;s consolidated financial statements.</font></p> </div>
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P5Y9M18D
CY2015 dei Document Fiscal Year Focus
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2015
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>1. Organization</b></font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><i>(a) Nature of Operations</i></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px;"> <font style="font-family:Times New Roman" size="2">The Company is a provider of digitally-powered business process outsourcing and services. The architect of the Lean Digital</font><font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">SM</sup></font> <font style="font-family:Times New Roman" size="2">enterprise, the Company uses its patented Smart Enterprise Processes (SEP</font><font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">SM</sup></font><font style="font-family:Times New Roman" size="2">) framework to reimagine its clients&#x2019; operating models end-to-end, including their middle and back offices. This creates Intelligent Operations</font><font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">SM</sup></font> <font style="font-family:Times New Roman" size="2">that the Company helps to design, transform, and run. Today, the Company generates impact for a few hundred strategic clients, including approximately one fifth of the Fortune Global 500, and has grown to over 70,000 people in 25 countries.</font></p> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><i>(b) Organization</i></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Prior to December&#xA0;30, 2004, the business of the Company was conducted through various entities and divisions of GE. On December&#xA0;30, 2004, in a series of transactions referred to as the &#x201C;2004 Reorganization,&#x201D; GE transferred such operations to the Company. In August 2007, the Company completed an initial public offering of its common shares. On October&#xA0;25, 2012, Glory Investments A Limited, formerly known as South Asia Private Investments, an affiliate of Bain Capital Investors, LLC (&#x201C;Bain Capital&#x201D;), became the Company&#x2019;s largest shareholder when, together with its affiliated assignees and two additional co-investors, it purchased 67,750,678 common shares of the Company from the Company&#x2019;s initial private equity investors.</font></p> </div>
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Yes
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