Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 45

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 billings balances of $122,933 and $161,966 as of December 31, 2024 and March 31, 2025, respectively. During the three months ended March 31, 2024 and 2025, the Company recorded a charge of $3,078 and a release  of $1,448, respectively, to the income statement on account of credit losses on deferred billings. Deferred billings, net of related allowances for credit losses, are included under “Other assets” in the Company’s consolidated balance sheet as of December 31, 2024 and March 31, 2025.    

16

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

3. Accounts receivable, net of allowance for credit losses (Continued)The Company has a revolving accounts receivable-based facility of $60,000 as of December 31, 2024 and March 31, 2025 permitting it to sell accounts receivable to banks on a non-recourse basis in the ordinary course of business. The aggregate maximum capacity utilized by the Company at any time during the year ended December 31, 2024 and the three months ended March 31, 2025 was $55,870 and $52,946, respectively. The principal amount outstanding against this facility as of December 31, 2024 and March 31, 2025 was $26,583 and $52,921, respectively. The cost of factoring such accounts receivable during the three months ended March 31, 2024 and 2025 was $706 and $678, respectively. Gains or losses on the sales are recorded at the time of transfer of the accounts receivable and are included under "interest income (expense), net" in the Company’s consolidated statements of income.The Company also has arrangements with financial institutions that manage the accounts payable program for certain of the Company's large clients. The Company sells certain accounts receivable pertaining to such clients to these financial institutions on a non-recourse basis. There is no cap on the value of accounts receivable that can be sold under these arrangements. The Company used these arrangements to sell accounts receivable amounting to $270,211 during the year ended December 31, 2024 and $69,797 during the three months ended March 31, 2025, which also represents the maximum capacity utilized under