Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 73

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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Accrued expenses and other current liabilities” and “Other liabilities” in the consolidated balance sheets. The revenues are recognized as (or when) the performance obligation is fulfilled pursuant to the contract with the customer.

39

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

18. Net revenues (Continued)The following table shows the details of the Company’s contract balances: As of December 31, 2024As of March 31, 2025Contract assets (Note a)$48,980 $59,029 Contract liabilities (Note b)Deferred transition revenue$106,769 $100,736 Advance from customers$45,420 $41,133 (a)Included in "prepaid expenses and other current assets" and "other assets" in the consolidated balance sheet.(b)Included in "accrued expenses and other current liabilities" and "other liabilities" in the consolidated balance sheet.Changes in the Company’s contract asset and liability balances during the three months ended March 31, 2024 and 2025 were a result of normal business activity and not materially impacted by any other factors.The amount of revenue recognized during the three months ended March 31, 2024 and 2025 that was included in the Company's contract liabilities balance at the beginning of each period was $51,569 and $52,493, respectively.The following table includes estimated revenue expected to be recognized in the future related to remaining performance obligations as of March 31, 2025:ParticularsTotalLess than 1 year1-3 years3-5 yearsAfter 5 yearsTransaction price allocated to remaining performance obligations$141,869 $95,180 $37,432 $8,600 $657 The following table provides details of the Company’s contract cost assets:Three months ended March 31,20242025ParticularsSales incentive programsTransition activitiesSales incentive programsTransition activitiesOpening balance$41,964 $160,579 $41,348 $159,552 Closing balance40,194164,72438,230162,199Amortization6,94517,3226,35819,374

40

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

19. Other operating (income)