Company: G
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001398659-25-000098
Chunk: 72

Company: Genpact LTD
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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GENPACT LIMITED AND ITS SUBSIDIARIESNotes to the Consolidated Financial Statements(Unaudited)(In thousands, except per share data and share count)

13. Other liabilities

 Other liabilities consist of the following: As of December 31, 2024As of June 30, 2025Accrued expenses $60,905 $90,932 Accrued employee cost 2,854 2,738 Retirement benefits 13,84318,172Compensated absences48,52754,496Derivative instruments (Note 6)21,27314,994Contract liabilities (Note 19)50,33653,074Finance leases liability8,81110,296Deferred compensation plan liability (Note 5)57,11164,595Others5,3816,006$269,041 $315,303 

14. Employee benefit plans

 The Company has employee benefit plans in the form of certain statutory and other programs covering its employees. Defined benefit plansIn accordance with Indian law, the Company maintains a defined benefit retirement plan covering substantially all of its Indian employees. In accordance with Mexican law, the Company provides termination benefits to all of its Mexican employees. In addition, certain of the Company’s subsidiaries in the Philippines, Israel and Japan sponsor defined benefit retirement plans.Net defined benefit plan costs for the three and six months ended June 30, 2024 and 2025 include the following components: Three months ended June 30,Six months ended June 30,2024202520242025Service costs$4,314 $4,659 $8,617 $9,551 Interest costs2,0162,194 4,034 4,353 Amortization of actuarial loss 6077 122 151 Expected return on plan assets (1,356)(1,743)(2,718)(3,450)Net defined benefit plan costs$5,034 $5,187 $10,055 $10,605 

31

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

14. Employee benefit plans (Continued)Defined contribution plansDuring the three and six months ended June 30, 2024 and 2025, the Company contributed the following amounts to defined contribution plans in various jurisdictions: Three months ended June