Company: G
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001140361-25-013031
Chunk: 30

Company: Genpact LTD
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 30
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 for hedging gains/losses in such period.

| (2) | Net revenues for 2023 include $0.5 million of revenue associated with a business classified as held for sale. |

(3)
New bookings, an operating measure, represents the total contract value of new contracts and certain renewals, extensions and changes to existing contracts. Regular renewals of contracts with no change in scope are not counted as new bookings. Prior to 2024, new bookings of contracts with longer than five-year terms were limited to the total contract value of the initial five-year term. In 2024, Genpact updated its definition of new bookings to eliminate the five-year limitation. New bookings as reported for the full year 2023 were $4.9 billion and would have been $5.0 billion in accordance with the new definition. New bookings for the full year 2024 as reported are $5.7 billion and would have been $5.4 billion in accordance with the prior definition. For a more detailed description of new bookings, see “Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations —New Bookings” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. (4)
Adjusted diluted earnings per share is a non-GAAP measure used by our management for reporting, budgeting and decision-making purposes. See Exhibit 1 to this Proxy Statement for a reconciliation of GAAP diluted earnings per share to adjusted diluted earnings per share. (5)
We completed an intercompany transfer of certain intellectual property rights from non-US to US wholly-owned subsidiaries in 2023, which resulted in a non-recurring tax benefit of $170 million. Net income and diluted earnings per share for 2023 included this benefit. This benefit was excluded from adjusted diluted earnings per share and adjusted income from operations for 2023. (6)
Adjusted income from operations margin is a non-GAAP financial measure used by our management for reporting, budgeting and decision-making purposes. See Exhibit 1 to this Proxy Statement for a reconciliation of GAAP income from operations margin and GAAP net income margin to adjusted income from operations margin. Despite continued macroeconomic uncertainty and geopolitical tensions affecting the markets in which we and our clients operate during 2024, our 2024 financial performance exceeded our expectations in several areas, including a 15% increase in new bookings on top of record new bookings in the prior year as well as strong net revenue and adjusted diluted