Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 125

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 risks related to balance sheet items, such as receivables and intercompany borrowings, that are denominated in currencies other than the Company’s underlying functional currency.The fair value of the Company’s derivative instruments and their location in the Company’s financial statements are summarized in the table below: Cash flow hedgesNon-designatedAs of December 31, 2024As of March 31, 2025As of December 31, 2024As of March 31, 2025AssetsPrepaid expenses and other current assets$11,855 $10,559 $5,419 $6,496 Other assets$4,727 $5,746 $— $— LiabilitiesAccrued expenses and other current liabilities$24,436 $14,102 $12,990 $3,579 Other liabilities$21,273 $13,640 $— $—  Cash flow hedgesFor derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain (loss) on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction is recognized in the consolidated statements of income. Gains (losses) on the derivatives, representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness, are recognized in earnings as incurred.In March 2021, the Company executed a treasury rate lock agreement for $350,000 in connection with future interest payments to be made on its senior notes issued in March 2021 by Genpact Luxembourg S.à r.l. (“Genpact Luxembourg”) and Genpact USA, Inc. (“Genpact USA”), both wholly-owned subsidiaries of the Company, and the treasury rate lock was designated as a cash flow hedge. The treasury rate lock agreement was terminated on March 23, 2021 and a deferred gain was recorded in accumulated other comprehensive income. This gain is being amortized to interest expense over the life of the 2021 Senior Notes (as defined in Note 10 below). The remaining gain to be amortized related to the treasury rate lock agreement as of December 31, 2024 and March 31, 2025 was $206 and $166, respectively.In May 2024, the Company executed treasury rate lock agreements for $400,000 in connection with future interest payments to be made on its senior notes