Company: G
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001398659-25-000109
Chunk: 187

Company: Genpact LTD
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 187
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 operating (income) expense, net$(22)$7,624 $(5,561)$7,468 

21. Interest income (expense), net

Three months ended September 30,Nine months ended September 30,2024202520242025Interest income$10,323 $5,140 $22,718 $15,929 Interest expense(22,710)(17,925)$(58,885)(53,645)Interest income (expense), net$(12,387)$(12,785)$(36,167)$(37,716)

22. Income taxes

The Company determines its tax provision for interim periods using an estimate of its annual effective tax rate adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company makes a cumulative adjustment.The Company’s effective tax rate (“ETR”) was 23.0% for the three months ended September 30, 2025, down from 24.3% for the three months ended September 30, 2024. The decrease in the Company’s ETR in the three months ended September 30, 2025 was primarily driven by the mix of the Company's pre-tax income and the impact of discrete items.The Company’s ETR was 24.4% for the nine months ended September 30, 2025, down from 24.8% for the nine months ended September 30, 2024. The decrease in the Company’s ETR in the nine months ended September 30, 2025 was primarily driven by the mix of the Company's pre-tax income and the impact of discrete items.

23. Commitments and contingencies

 Capital commitments As of December 31, 2024 and September 30, 2025, the Company has committed to spend $25,309 and $19,783, respectively, under agreements to purchase property, plant and equipment. This amount is net of capital advances paid in respect of these purchases.Bank guarantees The Company has outstanding bank guarantees and letters of credit amounting to $10,014 and $9,576 as of December 31, 2024 and September 30, 2025, respectively. Bank guarantees are generally provided to government agencies or for leases. These guarantees may be revoked if the beneficiary suffers any losses or damages through the breach of any of the