Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 126

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 issued in June 2024 by Genpact Luxembourg and Genpact USA, and the treasury rate locks were designated as cash flow hedges. These treasury rate lock agreements were terminated on May 30, 2024 and a deferred loss was recorded in accumulated other comprehensive income. This loss is being amortized to interest expense over the life of the 2024 Senior Notes (as defined in Note 10 below). The remaining loss to be amortized related to the treasury rate lock agreements as of December 31, 2024 and March 31, 2025 was $351  and $331, respectively.

21

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)In connection with cash flow hedges, the gains (losses) recorded as a component of other comprehensive income (loss) (“OCI”), and the related tax effects are summarized below: Three months ended March 31,20242025Before taxAmountTax (Expense) or BenefitNet of taxAmountBefore taxAmountTax (Expense)or BenefitNet of taxAmountOpening balance$805 $146 $951 $(29,271)$6,809 $(22,462)Net gains (losses) reclassified into statement of income on completion of hedged transactions2,960 (758)2,202 (5,228)1,234 (3,994)Changes in fair value of effective portion of outstanding derivatives, net19,287 (5,674)13,613 12,442 (2,609)9,833 Gain (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)