Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 14

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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.4 million in term deposits in the three months ended March 31, 2025 compared to no proceeds from investments in the three months ended March 31, 2024.  Cash used for payments (net of sales proceeds) for the purchase of property, plant and equipment and internally generated intangible assets in the three months ended March 31, 2025 was $2.1 million lower than in the three months ended March 31, 2024.

53

Cash flows used for financing activities. Our net cash used by financing activities was $125.5 million in the three months ended March 31, 2025 compared to $48.2 million in the three months ended March 31, 2024. This change was primarily due to (i) higher payments for stock repurchased and retired (including related expenses), amounting to $63.0 million in the three months ended March 31, 2025 compared to $30.0 million in the three months ended March 31, 2024, (ii) higher repayment of borrowings (net of proceeds), amounting to $6.6 million in the three months ended March 31, 2025 compared to proceeds from borrowings (net of repayment) of $26.8 million in the three months ended March 31, 2024, and (iii) higher payments for the net settlement of stock-based awards, amounting to $30.7 million in the three months ended March 31, 2025 compared to $20.8 million in the three months ended March 31, 2024.

Financing Arrangements

In December 2022, we entered into an amended and restated credit agreement (the "2022 Credit Agreement") with Genpact USA, Inc. (“Genpact USA”), Genpact Global Holdings (Bermuda) Limited (“GGH”) and Genpact Luxembourg S.à r.l. (“Genpact Luxembourg”, and together with Genpact USA and GGH, the “Borrowers”), as borrowers, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, swingline lender and issuing bank, and the lenders and other parties thereto, which consists of a $530.0 million term loan and a $650.0 million revolving credit facility. An additional third-party fee paid in connection with the 2022 Credit Agreement is being amortized over the duration of the term loan and revolving credit facility, which