Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 60

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 (Note 4)57,11158,410Others5,3815,845$269,041 $290,107 

27

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

13. Employee benefit plans

 The Company has employee benefit plans in the form of certain statutory and other programs covering its employees. Defined benefit plansIn accordance with Indian law, the Company maintains a defined benefit retirement plan covering substantially all of its Indian employees. In accordance with Mexican law, the Company provides termination benefits to all of its Mexican employees. In addition, certain of the Company’s subsidiaries in the Philippines, Israel and Japan sponsor defined benefit retirement programs.Net defined benefit plan costs for the three months ended March 31, 2024 and 2025 include the following components: Three months ended March 31,20242025Service costs$4,303 $4,892 Interest costs2,0182,159 Amortization of actuarial loss 6274 Expected return on plan assets (1,362)(1,707)Net defined benefit plan costs$5,021 $5,418 Defined contribution plansDuring the three months ended March 31, 2024 and 2025, the Company contributed the following amounts to defined contribution plans in various jurisdictions: Three months ended March 31,20242025India$12,844 $14,342 U.S.6,0965,518 U.K.5,9354,583 China7,3407,398 Other Regions4,3945,093 Total$36,609 $36,934  Deferred compensation plan On July 1, 2018, Genpact LLC, a wholly-owned subsidiary of the Company, adopted an executive deferred compensation plan (the “Plan”). The Plan provides a select group of U.S.-based members of Company management with the opportunity to defer from 1% to 80% of their base salary and from 1% to 100% of their qualifying bonus compensation (or such other minimums or maximums as determined by the Plan administrator from time to time) pursuant to the terms of the Plan. Participant deferrals are 100% vested at all times. The Plan also allows for discretionary supplemental employer contributions by the Company, in its sole discretion, which will be subject to a two-year vesting schedule