Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 136

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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) or following a separation from service, in each case either in a lump sum or in annual installments over a term of up to 15 years. Participants can elect to change or re-defer their rights to receive the deferred compensation until the 10th anniversary following their separation from service, subject to fulfillment of certain conditions. Each Plan participant’s compensation deferrals are credited or debited with notional investment gains and losses equal to the performance of selected hypothetical investment funds offered under the Plan and elected by the participant.The Company has investments in funds held in Company-owned life insurance policies which are held in a Rabbi Trust that are classified as trading securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date.The liability for the deferred compensation plan was $60,924 and $61,196 as of December 31, 2024 and March 31, 2025, respectively, and is included in “accrued expenses and other current liabilities” and “other liabilities” in the consolidated balance sheets.  In connection with the administration of the Plan, the Company has purchased Company-owned life insurance policies insuring the lives of certain employees. The cash surrender value of these policies was $61,549 and $61,812 as of December 31, 2024 and March 31, 2025, respectively. The cash surrender value of these insurance policies is included in “other assets” in the consolidated balance sheets.During the three months ended March 31, 2024 and 2025, the change in the fair value of Plan assets was $3,208 and $(1,141), respectively, which is included in “other income (expense), net,” in the consolidated statements of income. During the three months ended March 31, 2024 and 2025, the change in the fair value of deferred compensation liabilities was $3,164 and $(1,132), respectively,  which is included in “selling, general and administrative expenses.”

29

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

14. Stock-based compensation

The Company has granted stock-based awards, including options, restricted share unit awards and performance share unit awards, under the Genpact Limited 2007 Omnibus Incentive Compensation Plan (the “2007 Omnibus Plan”) and the