Company: G
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001398659-25-000035
Chunk: 108

Company: Genpact LTD
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 108
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its and Financial Statement Schedules.” 

We expect that for the next twelve months and for the foreseeable future, our cash from operations, cash reserves and debt capacity will be sufficient to finance our operations, our growth and expansion plans, dividend payments and additional share repurchases we may make under our share repurchase program. In addition, we may raise additional funds through public or private debt or equity financing. Our working capital needs are primarily to finance our payroll and other administrative and information technology expenses in advance of the receipt of accounts receivable. Our primary capital requirements include opening new delivery centers, expanding existing operations to support our growth, financing acquisitions and enhancing capabilities, including building certain digital solutions.

Cash flows from operating, investing and financing activities, as reflected in our consolidated statements of cash flows, are summarized in the following table:

Year ended December 31,Percentagechange20232024(dollars in millions)Net cash provided by (used for)Operating activities$490.8 $615.4 25.4 %Investing activities(78.9)(106.0)34.3 %Financing activities(483.0)(424.8)12.0 %Net increase (decrease) in cash and cash equivalents$(71.1)$84.6 219.0 %

Cash flows from operating activities.    Net cash provided by operating activities was $615.4 million in 2024, up from $490.8 million in 2023. This increase in cash provided by operating activities was primarily driven by (i) a $160.1 million increase in non-cash expense, primarily due to an increase in deferred tax expense and an increase in allowances for credit losses, partially offset by lower stock-based compensation expense, a decrease in depreciation and amortization  expense and a higher unrealized gain on the revaluation of foreign currency assets/liabilities in 2024 compared to 2023,  and (ii) an $82.1 million decrease in operating assets and liabilities, which was primarily driven by lower tax payments, lower investment in accounts receivable and higher refunds of Indian Goods and Services Tax payments, partially offset by higher vendor advances for employee related payments in 2024 compared to 2023. This increase was partially offset by a $117.6 million decrease in net income in 2024 compared to 2023.

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Cash flows used for investing activities.   Our net cash used for investing activities was $106.0 million in