Company: G
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001398659-25-000098
Chunk: 175

Company: Genpact LTD
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 175
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 Digital Operations.In the following table, the Company’s revenue is disaggregated by the nature of solutions and services provided between Advanced Technology Solutions and Core Business Services:Three months ended June 30,Six months ended June 30,2024202520242025Advanced Technology Solutions$249,462 $292,655 $489,311 $570,282 Core Business Services926,750961,7631,818,1381,899,062Net revenues$1,176,212 $1,254,418 $2,307,449 $2,469,344 All three of the Company's segments include revenue from each of the service types included in the tables above. See Note 18 for additional information.Contract balancesContract assets represent the contract acquisition fees or other upfront fees paid to a customer. Such costs are amortized over the expected period of benefit and recorded as an adjustment to the transaction price and deducted from revenue. The Company’s assessment did not indicate any significant impairment losses on its contract assets for the periods presented.Contract liabilities include that portion of revenue for which payments have been received in advance from customers. The Company also defers revenues attributable to certain process transition activities for which costs have been capitalized by the Company as contract fulfillment costs. Consideration received from customers, if any, relating to such transition activities is also included as part of contract liabilities. The contract liabilities are included within “Accrued expenses and other current liabilities” and “Other liabilities” in the consolidated balance sheets. The revenues are recognized as (or when) the performance obligation is fulfilled pursuant to the contract with the customer.

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

19. Net revenues (Continued)The following table shows the details of the Company’s contract balances: As of December 31, 2024As of June 30, 2025Contract assets (Note a)$48,980 $71,094 Contract liabilities (Note b)Deferred transition revenue$106,769 $106,665 Advance from customers$45,420 $40,267 (a)Included in "prepaid expenses and other current assets" and "other assets" in the consolidated balance sheet.(b)Included in "accrued expenses and other current liabilities" and "other liabilities" in the consolidated balance sheet.Changes in the Company’s contract asset and liability balances during the