Company: G
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001398659-25-000098
Chunk: 108

Company: Genpact LTD
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 108
---
 net, (v) acquisition-related expenses and (vi) income tax expense, as we believe that our results after considering these adjustments more accurately reflect our ongoing operations. To calculate AOI margin, we divided AOI (as calculated above) by net revenue. For additional information, see Note 18—“Segment reporting” under Part I, Item 1—“Unaudited Consolidated Financial Statements” above.

59

The following table shows the reconciliation of AOI to net income, the most directly comparable GAAP measure, for the six months ended June 30, 2024 and 2025:

 Six months endedJune 30,20242025(dollars in millions)Net income$238.9 $263.6 Foreign exchange gains, net(3.3)(1.7)Interest (income) expense, net23.8 24.9 Income tax expense79.8 88.4 Stock-based compensation expense27.6 41.8 Amortization and impairment of acquired intangible assets13.5 8.6 Acquisition-related expenses— 1.3 Adjusted income from operations$380.3 $427.0 

The following table sets forth our AOI by segment for the six months ended June 30, 2024 and 2025: 

Six months endedJune 30,Percentage Change Increase/(Decrease)202420252025 vs. 2024(dollars in millions)Financial Services$100.1 $121.6 21.5 %Consumer and Healthcare137.5 146.4 6.4 %High Tech and Manufacturing143.6 170.1 18.4 %Total reportable segment$381.3 $438.1 14.9 %Unallocated corporate expenses(1.0)(11.1)NM*Adjusted income from operations$380.3 $427.0 12.3 %

*Not Meaningful

AOI of our Financial Services segment, Consumer and Healthcare segment, and High Tech and Manufacturing segment increased by 21.5%, 6.4% and 18.4%, respectively, in the first half of 2025 compared to the first half of 2024, primarily driven by higher revenues and operating efficiency.

AOI for “Unallocated corporate expenses” in the table above primarily represents the adjustment of allowances for credit losses and over- or under-absorption of corporate overhead