Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 44

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 paid to an individual jurisdiction when 5% or more of the total income taxes were paid to such jurisdiction. The amendments in this ASU are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is in the process of assessing the impact of this ASU on its disclosures.In November 2024, the FASB issued ASU No. 2024-03, " Income Statement—Reporting Comprehensive Income— Expense Disaggregation Disclosure (Topic 220-40)." This ASU improves financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. In January 2025, the FASB further issued ASU No 2025-01, which clarifies the effective date for adoption of the ASU No 2024-03. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of assessing the impact of this ASU on the presentation of its consolidated statements of income and disclosures.

15

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

3. Accounts receivable, net of allowance for credit losses

The following table provides details of the Company’s allowance for credit losses on accounts receivable: Year ended December 31, 2024Three months ended March 31, 2025Opening balance as of January 1$18,278 $12,094 Additions (net), charged to income statement7,582 8,742 Deductions/effect of exchange rate fluctuations(13,766)(1,089)Closing balance$12,094 $19,747  Accounts receivable were $1,210,700 and $1,211,841, and allowances for credit losses were $12,094 and $19,747, resulting in net accounts receivable balances of $1,198,606 and $1,192,094 as of December 31, 2024 and March 31, 2025, respectively.In addition, deferred billings were $130,253 and $167,838 and allowances for credit losses on deferred billings were $7,320 and $5,872, resulting in net deferred