Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 52

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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loss) on cash flow hedging derivatives, net16,327 (4,916)11,411 17,670 (3,843)13,827 Closing balance$17,132 $(4,770)$12,362 $(11,601)$2,966 $(8,635)The gains or losses recognized in other comprehensive income (loss) and their effects on financial performance are                              summarized below: Derivatives in Cash Flow Hedging RelationshipsAmount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)Location of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)Three months ended March 31,Three months ended March 31,2024202520242025Forward foreign exchange contracts$16,449 $13,839 Revenue$391 $999 Interest rate swaps$2,838 $(1,397)Cost of revenue1,745 (5,350)Selling, general and administrative expenses508 (770)Interest expense316 (107)$19,287 $12,442 $2,960 $(5,228)There were no gains (losses) recognized in the statement of income on the ineffective portion of derivatives designated as cash flow hedges and excluded from effectiveness testing for the three months ended March 31, 2024 and 2025, respectively.Non-designated HedgesAmount of Gain (Loss) recognized in Statement of Income on DerivativesThree months ended March 31,Derivatives not designated as hedging instrumentsLocation of Gain (Loss)  recognized in Statement of Income on Derivatives20242025Forward foreign exchange contracts (Note a)Foreign exchange gains (losses), net$730 $4,630 $730 $4,630 

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GENPACT LIMITED AND ITS SUBSIDIARIESNotes to the Consolidated Financial Statements(Unaudited)(In thousands, except per share data and share count)

5. Derivative financial instruments (Continued)(a)These forward foreign exchange contracts were entered into to hedge fluctuations in foreign exchange rates for recognized balance sheet items such as receivables and intercompany borrowings and were not originally designated as hedges under FASB guidance