Company: G
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001398659-25-000109
Chunk: 206

Company: Genpact LTD
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 206
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 $1.5 million from $36.2 million in the nine months ended September 30, 2024. Our interest income decreased from $22.7 million in the nine months ended September 30, 2024 to $15.9 million in the nine months ended September 30, 2025, due to lower interest rates and lower cash balances in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The decrease in interest expense was largely due to (i) the absence of interest expense in the nine months ended September 30, 2025 on our senior notes issued in 2019, which were repaid in December 2024, and (ii) lower interest expense on our revolving credit facility and term loan due to a lower SOFR and lower volume, partially offset by incremental interest expense on our senior notes issued in June 2024 in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The weighted average rate of interest on our debt, including the net impact of interest rate swaps, increased from 4.4% in the nine months ended September 30, 2024 to 4.8% in the nine months ended September 30, 2025. See the section titled “Liquidity and Capital Resources—Financial Condition” for further discussion.

Other income (expense), net. Our other income (net of expense) was $18.9 million in the nine months ended September 30, 2025, compared to $14.1 million in the nine months ended September 30, 2024, primarily due to a $2.4 million gain on a one-time sale of certain IT assets and a greater gain on the fair value of deferred compensation plan assets in the nine months ended September 30, 2025. 

Income tax expense. Our income tax expense was $131.9 million in the nine months ended September 30, 2025, up from $122.5 million in the nine months ended September 30, 2024, due to higher pre-tax income, representing an effective tax rate (“ETR”) of 24.4% in the nine months ended September 30, 2025, down from 24.8% in the nine months ended September 30, 2024. The decrease in our ETR in the nine months ended September 30, 2025