Company: G
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001398659-25-000035
Chunk: 102

Company: Genpact LTD
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 102
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losses), net, (iv) restructuring (income) expense, (v) the operating loss from the business classified as held for sale, (vi) losses on the sale of businesses classified as held for sale, (vii) interest (income) expense, and (viii) income tax expense/(benefit), as we believe that our results after taking into account these adjustments more accurately reflect our ongoing operations. To calculate AOI margin, we divided AOI (as calculated above) by net revenue, excluding revenue from the business classified as held for sale. For additional information, see Note 23—“Segment reporting” to our consolidated financial statements under Part IV, Item 15—“Exhibits and Financial Statement Schedules.” 

During the second quarter of 2022, management approved a plan to divest a business (the "Business") that was part of our Consumer and Healthcare segment. The divestiture was completed in 2023. As a result, we classified the assets and liabilities of the Business as held for sale and recorded net revenues of $0.5 million and a loss of $1.2 million in 2023. Accordingly, there was no revenue or operating loss in 2024 from the Business. We also recorded a loss of $0.8 million in 2023 on the sale of the Business. For additional information, see Note 7—“Assets and liabilities held for sale” and Note 23—“Segment reporting” to our consolidated financial statements under Part IV, Item 15—“Exhibits and Financial Statement Schedules.”

The following table shows the reconciliation of AOI to the most directly comparable GAAP measure for the years ended December 31, 2023 and 2024: 

Year ended December 31,20232024(dollars in millions)Net income$631.3 $513.7 Foreign exchange (gains) losses, net$(4.3)$(2.9)Interest (income) expense, net$47.9 $47.2 Income tax expense/ (benefit)$(29.0)$163.2 Stock-based compensation expense$88.6 $66.4 Amortization and impairment of acquired intangible assets$31.3 $26.5 Restructuring expense (income)$(4.9)$— Operating loss on the sale of business classified as held for sale$1.2 $— Loss on the sale