Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 127

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)Three months ended March 31,Three months ended March 31,2024202520242025Forward foreign exchange contracts$16,449 $13,839 Revenue$391 $999 Interest rate swaps$2,838 $(1,397)Cost of revenue1,745 (5,350)Selling, general and administrative expenses508 (770)Interest expense316 (107)$19,287 $12,442 $2,960 $(5,228)There were no gains (losses) recognized in the statement of income on the ineffective portion of derivatives designated as cash flow hedges and excluded from effectiveness testing for the three months ended March 31, 2024 and 2025, respectively.Non-designated HedgesAmount of Gain (Loss) recognized in Statement of Income on DerivativesThree months ended March 31,Derivatives not designated as hedging instrumentsLocation of Gain (Loss)  recognized in Statement of Income on Derivatives20242025Forward foreign exchange contracts (Note a)Foreign exchange gains (losses), net$730 $4,630 $730 $4,630 

22

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

5. Derivative financial instruments (Continued)(a)These forward foreign exchange contracts were entered into to hedge fluctuations in foreign exchange rates for recognized balance sheet items such as receivables and intercompany borrowings and were not originally designated as hedges under FASB guidance on derivatives and hedging. Realized gains (losses) and changes in the fair value of these derivatives are recorded in foreign exchange gains, net in the consolidated statements of income.

6. Prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following: As of December 31, 2024As of March 31, 2025Advance income and non-income taxes$69,668 $57,002 Contract asset (Note 18)32,57238,136Prepaid expenses43,93652,659Derivative instruments (Note 5)17,27417,055Employee advances3,1863,161Deposits 3,8863,720Advances