Company: G
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001398659-25-000035
Chunk: 113

Company: Genpact LTD
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 113
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 arrears on June 4 and December 4 of each year ending on the maturity dates of April 10, 2026 and June 4, 2029, respectively. We paid interest on the 2019 Senior Notes semi-annually in arrears on June 1 and December 1 of each year through December 1, 2024, when they matured and were fully repaid. 

For additional information, see Notes 13—“Long-term debt” and 14—“Short-term borrowings” to our consolidated financial statements under Part IV, Item 15—“Exhibits and Financial Statement Schedules.” 

We use a revolving accounts receivable-based facility for managing our cash flows. As part of this arrangement, accounts receivable sold under this facility are de-recognized upon sale along with the related allowances, if any. As of December 31, 2023 and 2024, we have a revolving accounts receivable-based facility of $75.0 million and $60.0 million, respectively, permitting us to sell accounts receivable to banks on a non-recourse basis in the ordinary course of business. The aggregate maximum capacity utilized at any time during the period ended December 31, 2023 and 2024 was $51.4 million and $55.9 million, respectively. The principal amount outstanding against this facility as of December 31, 2023 and 2024 was $51.3 million and $26.6 million, respectively. The cost of factoring accounts receivable sold under this facility during the years ended December 31, 2023 and 2024 was $2.0 million and $2.3 million, respectively.

We also have arrangements with financial institutions that manage the accounts payable program for certain of our large clients. We sell certain accounts receivable pertaining to such clients to these financial institutions on a non-recourse basis. There is no cap on the value of accounts receivable that can be sold under these arrangements. We used these arrangements to sell accounts receivable amounting to $324.4 million and $270.2 million during the years ended December 31, 2023 and December 31, 2024, respectively, which also represents the maximum utilization under these arrangements in each such year. The cost of factoring such accounts receivable during the years ended December 31, 2022 and 2023 was $7.9 million and $6.0 million, respectively.

For